When will you guys EVER learn?? - page 2
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
sfxtrader,
dude, im sorry if my remarks hurt you, I'm in the same boat as you are, psycologically, any negative remark will boast you to do better
Man, currency trading is the most difficult thing ever I experienced, well..I changed 10 jobs to get in here..from mechanical engineering to software to call centre to freelance writing upto data entry yeah.. ....Internet makes you feel that you can do anything...easily..but the truth is everything is darn tough. if we ain't serious enough to "Go Deep", we are just in a rollar coaster ride.
10 years of not getting satisfied with any job....I finally settled for trading as I felt it would be soo easy to make money sitting at home, with all the advert. in the internet that make you feel like you can be a winner in couple of weeks..
Its all marketing I know now better...trading or currency trading..its no harder or better than a regular 9 to 5 job....I would now say...its a bit harder to play it all alone and earn money sitting at home.
The reason we get frustated with currency trading is that, we newbies are made to believe that trading is soo easy on the internet, what with one hundred thousand systems and its sellers and another million web site on trading. its all look soo easy....for a test..just google "hard tough trading" and "easy fast trading", I bet you will have more hits in the later than former words.
The real problem is here folks......I was made to believe that its all so easy to trade but when the reaility stuck ..It was hard to digest that trading can be so tough as was not made out to be initially and consequently we think of quick exit...thats what happens to all 90 percent of the newbies...they come with hopes and go frustated...my first couple of months were just to get in touch with the reality..thats its hard....I'm just beggining to realise that trading is a tough job.
90 percent of the people make money on the internet by fooling others. thats the turth i know. unless we put in that extra effort..we would be cheated.
10 years on I'm tired and no where to go, and truthfully so I put in a hell lot of hours in currency trading now....something like 14 hours a day..straight for two months....not because to prove a point...but because of my debt, no gf, no marriage, no own house
..nothing...Im broke folks.... 
I have lost a lot a lot in trading and now Im beggining to see some improvement in trading....thats probably the reason..my unconsious outbrust in seeing a post that made me think a few weeks back to pull out with the same mindset as you are in now...BUT then i realised, I have no where to go now....I being there done that..its the same everywhere....Its that little extra effort that is all is now required to get out of that feeling of all loss and no win...
dude...I can assure you...just stick in for couple of weeks more..put in a little more effort and you will come out of that feeling..of frustation and putting blame on the indicators and all stuff outside your mind...but..its the damm mind that's playing you....we got to tune our mind right to do anything good...
Its not the indicator that will make you a winner..but its your mindset....whoever said trading is psycology.. I bow down...he was ultimately right..."
My charger: There ain't any "HOLY GRAIL" outside, Its being all you ....Just find yourself and you find the "Holy Grail" .
Just my two cents worth...
Perhaps my goal is to usher inexperienced traders toward studying first the basics of price, S/R, and MM. Indicators should come in a long second, I think.
One of the best things I've seen in a longtime on these forums.
Newbies always ask the same two questions (I know I did).
The problem is that, once they start seeing all these "systems", EAs, and indicators, they never go back to question 1. The first thing newbies should do is get a good book on technical ANALYSIS. Most people skip the analysis part and contract NewFangledIndicatorITIS.
Before newbies ever put an indicator on a chart, they should have learned to be able to look at the chart and markup "price patterns", "S/R", and "Major Trendlines". They should be able to tell you what price "should/may" do next (from a macro perspective). It doesn't mean you'll always be right, but if you look at a chart (with no indicators) and all you see is a bunch of gobblygook, then you shouldn't be trading. After you can read a naked chart comfortably, then, if you want to learn about the various indicators, go for it. Get an education in Technical Analysis first, though. Indicator/system FOLLOWING isn't TA.
If you choose not to use pure TA as your "system", the education you will have gained will at least allow you to use TA as a solid filter for whatever "system" you choose to follow.
Just my 2 pips,
Keris
Here is another thought from an experienced programmer:
Imagine this scenario : MA 15 + 5 CROSS, macd is pointing down, stoch = down, asc + sputnik + brain + Tradestation indicators = down + new cpu + best commentators on currencies like ashraf leidi from fxstreet says - down ----------------> and price goes rocket high because the US Fed decided covertly to make Oil Corporations sell cad and buy $ because Canada is so big on oil and the Fed "knows" the outcome of the next news item..................No Indicators will tell you this, unless they work for the Feds.... !!!
To me the best Moving average is: 1 (Exp..)!
Use you head first, than harnace the Cpu as a Calculator, but not a predictor !!!
Good systems tend to violate normal human tendencies.
Trading Wisdom of William Eckhardt
It's much easier to learn what you should do in trading than to do it.
Good systems tend to violate normal human tendencies.
One common adage on this subject that is completely wrongheaded is: you can't go broke taking profits. That's precisely how many traders do go broke. While amateurs go broke by taking large losses, professionals go broke by taking small profits.
The problem in a nutshell is that human nature does not operate to maximize gain but rather to maximize the chance of gain.
The desire to maximize the number of winning trades (or minimize the number of losing trades) works against the trader. The success rate of trades is the least important performance statistic and may even be inversely related to performance."
If you're playing for emotional satisfaction, you're bound to lose, because what feels good is often the wrong thing to do.
Richard Dennis used to say, somewhat facetiously, "If it feels good, don't do it."
In fact, one rule we taught the Turtles was: When all the criteria are in balance, do the thing you least want to do.
You have to decide early on whether you're playing for the fun or for the success. Whether you measure it in money or in some other way, to win at trading you have to be playing for the success."
Don't think about what the market's going to do; you have absolutely no control over that.
Think about what you're going to do if it gets there.
In particular, you should spend no time at all thinking about those rosy scenarios in which the market goes your way, since in those situations, there's nothing more for you to do.
Focus instead on those things you want least to happen and on what your response will be.
If you don't think these principles are true, you haven't been trading very long.
To win at trading you have to be playing for the success.
I have now clocked 30 years of trading and enjoying every second.
if you guys think for 1 minute you can step up to the plate and win on the first 100 or so fastball pitches , you are sadly mistaken.
trading is 95% knowing yourself and 5% mechanical.
cheers,
Shopster
Lmfao,
Funny how you quote the turtles then finish with the quote 95% emotional and 5% mechanical.
Are you literate? Or were you just trying to sound smart talking about them?
I'm pretty sure, their system and entire methodology was based on everything being 100% mechanical and not emotional dipshit.
Go read a book.
Trading Wisdom of William Eckhardt
It's much easier to learn what you should do in trading than to do it.
Good systems tend to violate normal human tendencies.
One common adage on this subject that is completely wrongheaded is: you can't go broke taking profits. That's precisely how many traders do go broke. While amateurs go broke by taking large losses, professionals go broke by taking small profits.
The problem in a nutshell is that human nature does not operate to maximize gain but rather to maximize the chance of gain.
The desire to maximize the number of winning trades (or minimize the number of losing trades) works against the trader. The success rate of trades is the least important performance statistic and may even be inversely related to performance."
If you're playing for emotional satisfaction, you're bound to lose, because what feels good is often the wrong thing to do.
Richard Dennis used to say, somewhat facetiously, "If it feels good, don't do it."
In fact, one rule we taught the Turtles was: When all the criteria are in balance, do the thing you least want to do.
You have to decide early on whether you're playing for the fun or for the success. Whether you measure it in money or in some other way, to win at trading you have to be playing for the success."
Don't think about what the market's going to do; you have absolutely no control over that.
Think about what you're going to do if it gets there.
In particular, you should spend no time at all thinking about those rosy scenarios in which the market goes your way, since in those situations, there's nothing more for you to do.
Focus instead on those things you want least to happen and on what your response will be.
If you don't think these principles are true, you haven't been trading very long.
To win at trading you have to be playing for the success.
I have now clocked 30 years of trading and enjoying every second.
if you guys think for 1 minute you can step up to the plate and win on the first 100 or so fastball pitches , you are sadly mistaken.
trading is 95% knowing yourself and 5% mechanical.
cheers,
Shopsterwhat is the basic idea -- of price action ??
please explain the basic
Solution-Lets trade the news with simple indicators
There are many good indicators here at this forum that can make you a fortune if applied properly.Some who lack vision would say well these indicators repaint.I would say add two or more indicators to get a valid signal.Some would say only price action and S/R will make a dollar.I would say price action is a good method but eventually you will lose more than is worth for time/effort/profit ratio.With that much said I will enlighten you to a huge money making method using a simple indicator that repaints horribly.
Have you ever traded economic reports?There are many released daily but I would focus on medium and high priority reports (employment-retail sales-ppi-cpi-industrial pro-interest rates-so forth and so on) Easy dollars and Ill tell you how.Attach FXtrend v2 to your chart.Go to the economic calendar and find a report of medium or high priority.Be present 15ms before the report is released.Exactly 5ms before the report is released look at the fx trend indicator on the 5 m chart to determine the trend direction and guess what genius?Thats the direction market will go as the report is being released.Giving you advanced knowledge of major economic reports before the market reacts.Take conservative profit and youll never lose.That is one of a thousand ways to use one simple technical indicator.I will warn you use the indicator only when trading the news and not during regular trade as this is a news trade strategy using a simple indicator. Calendar links provided and indicator. That is all
Forex Trading Calendar | Currency Events Calendar
2)Forex Factory
what is the basic idea -- of price action ?? please explain the basic
It is something like that:
if (up_trend>0 && Close[2]=Close[1] && Open[2]>Close[2]
&& Close[1]==Open[1] && Close[1]-Low[1]>=Doji*Point && curr_ask<=Open[0]) // Doji Buy
Bongo