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Thread: Tips and Tricks from the full time traders??

  1. #1

    Tips and Tricks from the full time traders??

    Hello, As a frued trader, (been trading about a year and I have lost two accounts) I took a rest for about two months and I'm ready to return . I would sooooo love if some of the thriving full time traders would mind sharing some of their hints tips to success?

    I'm not asking for the Holy Grail, just perhaps the one thing that you did that flipped your trading around or some methods to help me move ahead and get to the point where you're at.
    OR, you're biggest mistakes that perhaps I can prevent.

    Hope that this isn't asking a lot of!!!
    Thank you,
    Jen

  2. #2
    Hi...


    Pipmaster....its just one of those days we are not likely to agree. .

    Obtaining the sign right is second loion to money management and trade direction....you can toss a coin and if your MM is good it's still possible to make money. . .your sign won't ever be 100 percent right. . .so a definition of directly differs for every trader.

    Anyway..dont want to take away the interest in the thread with us debating this...

  3. #3
    Quote Originally Posted by ;
    This is a very intriguing concept, very good information. I've never heard it explained like this! Think I have some changes to make....
    Also, I've been wanting to find out more about using Pivot Points, but how would they work with a 4H timeframe? Or are they employed with even less or 1H? I like to utilize the 4H because I can't exchange during the afternoon.
    Jen
    Hey Jen,

    Utilize weekly or monthly pivot points

  4. #4
    Quote Originally Posted by ;
    hi...


    Pipmaster....its just one of those days we are not going to agree. .

    Getting the sign right is next place to cash management and trade management....you can throw a coin and when your MM is great you can still make money. . .your sign will never be. . .so a definition of right is different for every trader.

    Anyway..dont wish to take away the interest from the thread with us debating this...
    By right I am profitable but obviously not 100%. I aim for that which I perceive to be elevated likelihood setups (with great risk to benefit ) so my entry is key and MM is only one more important element.

  5. #5
    Quote Originally Posted by ;
    Vasyan

    I know what you're saying but are you placing SL's relative to the closest support/resistance level. A two pip SL can be just as powerful as a 200 pip SL assuming you put it out of the volatility range.

    For those who don't already know, this only tip can save a lot of money - A support/resistance degree can act like a force field slowing, or even completely stopping prices from moving higher or lower so if you're not already doing this, be sure to put your SL supporting the protective support/resistance line. Why make your SL a free ranging goal. While nothing in Forex is 100% safe, this tip puts the odds in your favor.

    TrevA
    ]


    Nice TIP TrevA.

    Thank you.

    EG

  6. #6
    Wait for the confirmation of the moving average cross and candlestick patterns are also a great indiction of price! . . .try blending a momentum indior..for example I use stochastic and rsi and dont input till my rsi is above or below 50 depending on short or long and stochastic is pointing in the direction!

  7. #7
    Quote Originally Posted by ;
    Well basically, I have been only trading off the 4-hour chart, using a simple MA crossover system, and also I trade areas of S/R. I believe my main problem is watching price violation resistance or support, then input the market. Alot of times I'm right, but many times I make the incorrect choice.

    Additionally, on the crossovers, I make the mistake of entering if the MA's look like they're just prepared to cross, and then they end up not crossing at all. But then I stay in too long, wondering whether they're going to cross at the next candle...

    So I guess my main issue is poor conclusion. ?
    What does stop loss mean to you? I don't touch it, After I place my stop loss. For me personally it isn't only what I am ready to loose on a single trade but more importantly it tells me I had been wrong from the begining. In case price comes close enough to stop loss I believe reversing my trade. I use this to the chart. You do not have to be right each single time you take a trade provided that you have program what to do if it goes the incorrect way.

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