10 months in this game ready for the next step
Jul 16, 2012 at 07:29
Vues 1,061
7 Replies
Jul 16, 2012 at 07:29
Hello my name is Mark. I've been watching the markets for 10-12 months (daily) now ever since the U.S. was downgraded and I have found I am pretty good at guessing the market. It really took me almost a year to get it down though but I figure if I watch one year it will be similar next year as far as Europe and US goes. I've watch the entire eur/usd pair go from 1.44 to as low as 1.22 (currently) and all of the volatility in between. I am enrolled in school now to learn more, mostly because of I've overloaded with teaching myself in a short period of time but I want to get into using/making/tweaking an EA since most of the action in the USD is while I'm in school. For now I want to have something simple like a scalping EA but I definitely want to get an EA going on the macro side. Hopefully I can work with some traders out there who put in as much time as I do learning about this stuff.
Membre depuis Jan 14, 2010
posts 556
Jul 16, 2012 at 08:23
javelin posted:
Hello my name is Mark. I've been watching the markets for 10-12 months (daily) now ever since the U.S. was downgraded and I have found I am pretty good at guessing the market. It really took me almost a year to get it down though but I figure if I watch one year it will be similar next year as far as Europe and US goes. I've watch the entire eur/usd pair go from 1.44 to as low as 1.22 (currently) and all of the volatility in between. I am enrolled in school now to learn more, mostly because of I've overloaded with teaching myself in a short period of time but I want to get into using/making/tweaking an EA since most of the action in the USD is while I'm in school. For now I want to have something simple like a scalping EA but I definitely want to get an EA going on the macro side. Hopefully I can work with some traders out there who put in as much time as I do learning about this stuff.
Hi Mark!
Sounds like you're on your way to success! 😄
So what type of trading system do you use? How do you find time to trade with school?
Jul 17, 2012 at 06:28
Thanks Bond I am trying to learn everything right now but I don't really have a system as far as charts or indicators, haven't taken the time to learn those yet but I can usually find action during the beginning Europe session, I will go to bed maybe 2-3pm (pst) and have atleast 6 hours of sleep before I have to go to school, somedays I will wake up early for the major data. Nowadays I am more confident in my trades to have them sit overnight. I got burned big last time when I started around October and all of the headlines coming out during the US sessions. Lately its only been early US data or Fed minutes causing volatility and I will just stay away during those meetings. Other than that I'll read a few articles a day to stay up on everything.
What type of deal do you got going on?
What type of deal do you got going on?
Membre depuis Jan 14, 2010
posts 556
Jul 30, 2012 at 10:51
javelin posted:
Thanks Bond I am trying to learn everything right now but I don't really have a system as far as charts or indicators, haven't taken the time to learn those yet but I can usually find action during the beginning Europe session, I will go to bed maybe 2-3pm (pst) and have atleast 6 hours of sleep before I have to go to school, somedays I will wake up early for the major data. Nowadays I am more confident in my trades to have them sit overnight. I got burned big last time when I started around October and all of the headlines coming out during the US sessions. Lately its only been early US data or Fed minutes causing volatility and I will just stay away during those meetings. Other than that I'll read a few articles a day to stay up on everything.
What type of deal do you got going on?
Always have a stop loss, and if things aren't going your way, stop and think (a)if you're doing everything according to place and (b) if your trading system works.
I for one stopped using indicators and trade with simple support resistance lines. If you look long enough at the screen, you'll definitely see some tradable patterns. 😄
In your case, it is hard to trade and go to school at the same time as both are distractions for the other.
forex_trader_43716
Membre depuis Aug 06, 2011
posts 345
Nov 02, 2012 at 20:06
Hello Mark. I use a simple moving average to identify trend, TD Lines for nearest support and resistance, Williams % Range to confirm breakouts, and Larry Williams False Break Buy-Sell Pattern to link my money management plan. Money management is 50% of the trading equation!
Membre depuis Nov 09, 2012
posts 76
Nov 09, 2012 at 10:08
@javelin If you are pretty good in guessing, you maybe should learn about analysis and sum up that in your own EA. For your schedule VPS is the best variant also..
If you want to end up with a nonaverage net worth, a “learn from someone else” attitude is paramount. Putting your ego aside and admitting that you don’t know it all isn’t easy, but it is the mindset of true winner ----Paul Tudor Jones.
Membre depuis Oct 27, 2011
posts 86
Nov 16, 2012 at 09:55
I recommend you get yourself a practice account and start actually trading the market. It's one thing to guess direction, but using money management and trade management on deciding on stop levels and profit targets to be consistently profitable is the real challenge.
It's easy to look at a chart and say 'yeah, it's going to go short' But to actually make money from that prediction is what you are ultimately trying to do.
Good luck!
It's easy to look at a chart and say 'yeah, it's going to go short' But to actually make money from that prediction is what you are ultimately trying to do.
Good luck!
Find your passion and work hard
Dec 09, 2012 at 11:22
javelin posted:
Hello my name is Mark. I've been watching the markets for 10-12 months (daily) now ever since the U.S. was downgraded and I have found I am pretty good at guessing the market. It really took me almost a year to get it down though but I figure if I watch one year it will be similar next year as far as Europe and US goes. I've watch the entire eur/usd pair go from 1.44 to as low as 1.22 (currently) and all of the volatility in between. I am enrolled in school now to learn more, mostly because of I've overloaded with teaching myself in a short period of time but I want to get into using/making/tweaking an EA since most of the action in the USD is while I'm in school. For now I want to have something simple like a scalping EA but I definitely want to get an EA going on the macro side. Hopefully I can work with some traders out there who put in as much time as I do learning about this stuff.
here is my suggestion to you javelin,
if you have limited time to commit to the market, trade on the DAILY chart.
reason 1 you only need to process your plan and make the trade based on ONE daily candle
reason 2 if you read news lot as you described above, its suggested you combo news with daily chart and net some pips in the long term.
trading daily chart is quit profitable, but the key is to WAIT for the right moment and risk management, set your stop.
why not grab a demo account and start to work on your candle recognition skills? the earlier you get your handon experience the faster you get use to the market.
EA is designed to take out the emotion out of your trades, but if you can learn handle your emotion well, why not trade the market manually like all the pros do? =)
good luck!
js
Don't allow yesterday's success to lull you into today's complacency, for this is the great foundation of failure.
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