Directions please? :what ive been doing -
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thread: Directions please? :what ive been doing

  1. #11
    Ive been using large -like 365 sma to determine what the big image is, however, its not been very beneficial.

    Ive got some reading to do afterward, any good sources for analyzing the nature of trends you guys can point me towards? --though inevitably ill probley come across some stuff by myself.
    I personally use 30, 50 and 100 SMA to get trend-analyzing, especially when they fall in order and moreless parallel to each other. Go plot them in your charts and scroll back in time looking for those conditions I explained.

  2. #12
    you understand ive been representing alot about my mistakes and one important thing stuck out: I got bored. As soon as I got tired of no set ups, and being out of the market I chose trades that were idiotic, or doubled my quantity on wining trades to get them undo on me personally and drain me.

    At its base forex does not need alot of energy, more patience.

    Recently im only reading through alot of trade journals, trying to observe how other people read charts to determine whether I can see what they see.

    --One thing im discovering is that even the most severe newb talks like a know it all here. Myself included? ... I mean understand crime possibly: generally its a warm and supportive environment here. Its becoming more and more challenging to contemplate the new info I learn: to inform who knows what they are talking about.
    Do you burden it by number of answers? Views? star rating? idk. Beginning to take everything everybody says worth a grain of salt, but every now and again. However it makes you wonder if you're learning properly. Wish they had like forex 101 course at my school id know my info comes from a source.
    Hello Joyful....

    I agree with much of what WTB said to you.

    Also, I think you learned quite a bit about investing from reading this post I am replying to.

    1. You took trades from boredom ( for the sake of trading )
    2. At this point you know that trading requires PATIENCE
    3. Many so called systems are worthless in an ever changing market, as I see it, it is because the system is static as well as the market isn't. The TRADER. . .that's you....must be elastic, or else you will always be seeking a method vs. trading.

    So that I would say you're pretty much ahead of the curve by just what you mentioned within this post.
    My view....if you keep reading journals and system posts....while some could be useful....you more than probably will confuse the Hell from your self.
    Once you get experience than you will be able to seperate the wheat from the chaf.

    Hope some of this helps
    Best of Luck

  3. #13
    5:27 PM Yesterday my Local Time. That is if this thread started. Less than 24 Hours ago and it's simple to understand that your mindset has changed.

    If you dont actually feel you understand what the OLD farts around here are saying, hear Ricardo. He seems to have a good handle on things.

  4. #14
    Bemac that was thanks ive found it helpful to write down the stuff ive been thinking: getting them makes it a little more objective if that makes any sense. Ive been able to sort out alot of my questions just by writing them down just like this glad I did. I can see why people do trading journals.

    FxJarhead: youve kinda pointed something out ive been confused about philosophically for a while. Two things I see anyplace within this forum: plan the trade and exchange the program.... And systems are worthless in a shing market. Are not these two statements?

    So to what degree should your trading be fluid? --always reacting to little the changes, trying to get ever more of an edge? -- should you take that too much you wind up leaping on every little move and overthinking everything.

    However, if you're more reliant on a crystalized/solid system your trading gets inactive and dried outside, possibly even pull down you to bankruptcy. You really do have to ch when things are/aren't functioning

    So to what degree if your FX thinking be crystal vs fluid?

  5. #15
    Thanks bemac, actually ive found it extremely valuable to write down the stuff ive been thinking: getting them out of my mind makes it a bit more goal if that makes any sense. Ive been able to sort out alot of my questions just by writing them down like this so glad I did. I can see why people do trading journals.

    : youve kinda pointed something out ive been confused about philosophically for some time. Two things I read anyplace in this forum: strategy the trade and exchange the plan.... And systems are unworthy in a continuously shing market. Are not these two little statements very contradictory?

    So to what degree should your trading be fluid? --always reacting to the constant changes, attempting to get more of a border? -- if you take that too much you wind up jumping on every move and overthinking every thing.

    But if you're more reliant on a crystalized/solid strategy that your trading becomes inactive and dried out, possibly even draw you down to bankruptcy. You truly do have to ch when matters are/aren't working

    So to what degree should your FX thinking be crystal vs fluid?
    Hello Joyful...

    Contradictory???? If I am one to answer that 13, I'm not really sure. While I did not look up the difference in significance, if any, between a strategy and a strategy....you may what to try to answer that in your learning procedure.

    Now, do I think the market in conflicting....YES. So there's the conundrum.

    I think in your 1st post you followed a system....and found that your results. If a system may work without any human interaction or idea, once put into motion....who'd need traders????

    I am a discretionary trader. I watch what the market is telling me, and I trade based on that. Oh, I have some indiors to assist for visual help....and I have learned to stick to the fundies ( that are longer duration )....though in the long run,, it is going to be yourself that decides the kind of trader you want to be....make sense. ? There is not any way nor way, it's what fits for the person.

    What banks, commercials, institutions, big funds, and the like do....will be vastly different than what you will do. I transaction will vary greatly from others and you.

    To what degree??? There is. I exchange the market and if need be I have learned to always be ready to change on a moments notice. I NEVER wed myself into some position...I just lightly date them

    Hope that's of any help to you

  6. #16
    I believe in your 1st article you followed a method....and discovered your outcomes. If a system could function without any human interaction or thought, once put into motion....who'd need traders????
    --you know on that note its always sounded like such a bad idea to use the robotic EAs to restrain your cash. Idealistic do your work for you, but Ive never seen.

    --fundies ( which are longer duration ) --not heard of the Ill read up on it if I could find anything

    I kind of hear : Its like instead of going on an extreme to the left or the right create your own route. --awful to be too mechanical or fluid .

  7. #17
    One Thought that ive been reflecting on: money management- largest thing that could have saved my demo account from going broke.

    Simple idea: 1c pips each 100$ in your account. It follows that 100 pips is 1$ (1% risk)

    --note that im pretty sure that means that the lots you are trading are really only 100$ each. So very logical eh? : if you've got 100$ only play 100$


    at the same time this is very exponential isn't it? Fantastic stuff (as long as you are profitable)

    -so if best case scenerio you can obtain your 100 pips each week, using 48 months per year youd be earning 50% profit every 100 you consume in.

  8. #18
    Two things I read everywhere within this forum: plan the trade and exchange the plan.... And systems are worthless at a shing market. Are not these two small announcements?

    So to what level should your trading be liquid? --constantly reacting to the constant changes, attempting to get more of the advantage? -- should you take that too far you end up overthinking every thing and jumping on each tiny move.

    However, if you're over reliant on a crystalized/solid system your trading becomes static and dried outside, perhaps even draw you down to bankruptcy. You truly do have to ch when things are/aren't functioning

    So to what level should your Foreign Exchange believing be crystal vs fluid?
    I believe the problem of not having the ability to accommodate a”system” into the market dynamics (therefore thinking that systems are useless ) is the normal outcome of not having approved yet that you can't predict the future. As soon as you realize that you don't understand what's likely to happen next, you're stop searching for”that perfect mechanic 100% accurate method” and you will go back to the basics and learn the best way to read the charts at the most basic level: candlestick patterns, support and resistance, tendencies, etc.. Now that you're not busy searching for that system, you'll stop going to the trading systems forum and you're going to start going into the beginners forums to read (again) those sticky posts about money management and plogy. I was so busy searching for a system that I forgot to learn about basic and vital things like what is leverage and how does it operate

    And when you learn all of that stuff, you will naturally understand what kind of trader you're, and that is what I'm personally hoping to do. If I can do all the things I said on this informative article then I really don't think I'll only have a system, I'll have a”trading plan”, a system is only 1 MA crossing another MA.

  9. #19
    --you know on that note its always sounded like such a bad idea to use the robotic EAs to restrain your cash. Idealistic to have a computer do your work for you, but Ive never found a ea that actually works to any degree.

    --fundies ( that are longer duration ) --never heard of this Ill read up on it if I can find anything

    I kind of hear ya: Its like rather than going on an extreme to the left or the best create your own route. --awful to be too mechanical or fluid .
    Have to concur with Jarhead. It's a place here, for example discretion.
    Say you need to walk from Point A to Point B and also the shortest way is to walk on the train paths (a strategy ). You call the ticket office and they say no train is coming now (validation). A friend provides you a printed schedule and it reads no train now (confirmation). So you start walking (execution). You're halfway between B and A and you hear a train whistle (new information). You find the smoke from the engine (validation). You find the headlight bearing down and believe the paths moving under your feet (confirmation).
    Your strategy was well thought out, validated and confirmed. But discretion (new information validation confirmation) will get you off the paths. There's no sin in reevaluating your strategy if new information calls for it.
    Sorry for the simplicity, but that is how my mind works.

    One of the brokers I use has a few great free webinars on trade setups with trendlines and fib levels. The teacher wants new traders to try trading for 6 weeks with fibs and only trendlines, nothing else. In the PM you sent me, I think that your grasp of trendlines likely meets or exceeds what they teach in those webinars. I'll PM you the advice. There are a few instances of pullbacks, retracements, etc. and also what is happening outside of your platform when you view them. A more in depth study on all elements of trends like WTB indicates is essential as far as I am concerned.

    All of the best
    Bill

  10. #20
    Ricardo

    Beautiful signature! Have not heard munsoned in a little while.

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