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News is crucial data everyone should be aware.But we're speaking beyond news.Originally Posted by ;
Once in profit move your sanity into BE and you should then let it ride but vaguely aware what price action is notifiion.
As example of my recent trades.I left in the ideal time.All the transactions were less then a week over 600 pips.Could you scalp that far in a week?
Anyhow you know yourself better what works for you
How much time does it take to become a professional eg. Doctor, lawyer, phd etc?
You said you want to create trading your career.
So means you're going to be a professional.
Trading is no different than being another professional. This is misconception almost every neebie has or needed, including me. That oh I am going to be a trader and couple clicks of mouse regular, porsche within my driveway. It requires some time just like everything, its a procedure and the money that you lose is your tution fee, simply dont pay for everyone in the class aka cut winners. And like university, some will fail ordinary and some will shine.
Keep at it and at time charts will begin talking to you. I'm newbie too however charts have begun to talk to me, not regular but atleast sometime today.
Well, you can review a number of the completely free online tools to find out more start with baby pips, but when it comes to using indiors, nobody in their right mind would utilize the whole darn lot just use a select few. I know it can be fruing if nothing seems to work but hey, even if fx was that easy, we'd all be. .
You are trying to profit from the movement of price. Study how your preferred market operates and where the buyers and sellers are that can move price at certain times of the day and in certain places (you are on to round numbers already).
Should you grab a excellent trade and its own in line with what is happening in the market ie; you short the Yen and BoJ admits QE, ride the fashion. Do not select a TP level straight away, but limit losses by going a stop to BE when you are comfortable.
Good post,
However, I feel as though I'm getting no where.
Attempting 50 systems. None of which are reliable enough for me to completely trust. .
Simple response. Don't give up. Don't trade with real money before it is possible to observe a system that works in back testing and forwards testing.
I just wish someone successful could help me via mentoring.
Not one of the crap gets me anywhere. Even price action fails 90% of the time.
Trade fundamentals then, eliminate your charts, form an opinion whether a currency pair schould appreciate or depreciate within the coming 3 months, hit buy or sell, unleveraged, no SL, wait and only hope for the best
will save you a ton of time, outcomes might be exactly the same though
Up to now from experience, I know a general idea about what I am best suited to:
Well I believe that if you have been constantly losing by trading this manner, then you should have a general idea what you aren't best suited to.
Lower TF and tight SL are a killer for all but the very experienced because of the effect of the spread.
This quote indies a big part of your problem. You're on the system to reliant. Bear in mind that all systems just work because of the exact same underlying price action principles. In the conclusion of the day, you're simply attempting to proceed with the majority, if it's just for a few pips at a time. Price action is observing the movements of the majority. The mass will always triumph. The mass can also be subject to habit. That is why price action works, since people are creatures of habit. Systems are nothing more than a way to quantify what the majority is doing. To put it differently, read and study all the information that you are given from so many people, on this thread and each the others you have seen, and start to digest it. Second, pick just 1 pair and focus on its behaviour. Select 1 system to place on that chart. Take your own winners and the losers and examine them. Better yet, select just 2 MAs and possibly 1 oscillator to place on the chart, then sit back. You may observe patterns. If you do not observe these patterns, it may be best to go a different route in terms of voion. Once you start to recognize these patterns, choose an appropriate currency management egy and start to trade. You may lose some, that is part of the sport. EVERY business owner has losses. Fortune 500 companies have losses. What makes you feel you will differ? Keep plugging along.
Jumping from program will not provide you exactly what you're looking for, it will only lead to fruion and a defeatist mindset, which is exactly what you have. This needs to be an emotionless game. From my 4 children, I'd recommend Forex to 1 of them, the others would be to emotional. That may be you also. Just take some time to actually learn 1 pair, 1 timeframe, 1 setup with your 2 MAs and 1 oscillator.
Until then, quit berating other peoples threads and systems and trying to prove them wrong, as you have done innumerable times. Hope this helps.
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