To be a trader

thread: To be a trader

  1. #1
    Junior Member yuste07's Avatar
    18

    To be a trader

    The fantasy of many individuals here would be to be a trader.
    Someone realize this fantasy, many just fail...

    With the beginning of the 2018, I will try.
    I old and took account, little balance, 300 Euros. If I am able to make with this little balance, it could be the very first step to be a trader.

  2. #2
    Junior Member yuste07's Avatar
    18
    Here some analysis on long term that I love to perform. If a transaction timeframes, it's extremely important to bear in mind that an idea of the big picture.

    Appears like the EURUSD is at a really interesting area for decisions. We had last major shirt at 1.2092 in September. Therefore it might form a top. A Daily close under 1.2000 should be good for the bears that have some area to try around 1.1650 first, and 1.14xx maybe after, this may occurs next couple of days/weeks.

    On longer term, monthly, there is a nice technical area in which bulls would love to get, around 1.26xx before the end of 2018. That region is where the bears would really like to sell out of.


    This day FOMC Meeting Minutes provides us a first idea of the direction, but on Friday there is the NFP. As always, best way for me seems to stay out through the news, let the market choises the direction and, when the situation is clear, get a trade.

  3. #3
    Junior Member yuste07's Avatar
    18
    The first thing that I learned previously is: newbies have a tendency to focus too much about the egy (meaning the trading system) as the use of the technical analysis.

    That's not completly good, becouse the problem is to forget about the money and risk management. When you start to exchange, you just think to see money at the moment that you close a winning transaction. Get trades can happens. Reduce the trades and the hard part would be to develop into consistent.

    Once you get more experience you comprehend the in trading there are lots of things more important of the trading system. To get exemply using be patient and stop loss. They are both a part of the base.

    I know that there is lots of folks trading without loss, and they're consistent also. It is becouse that they use some kind of stop loss, tracking alwasy the transaction and shutting it if the price action is going bad. In my opinion, I prefer to use stop loss for 2 reasons:
    1. I can not monitoring price action constantly (I must be able to make other things, leave the PC, rather than stay to observe the market tick by tick, or candle by candle for long time. It's also about the stress);
    2. If I get a trade I've a reason, there is an level. If price action violates that level my reason in not valid anymore, so I prefer to be from the transaction rather than be below water and hoping that the price goes straight back. If the price gets back and conditions are still valid I can get in again. Stop hunting happens, is a part of this game, but I do not need to risk a big percent of my account only becouse it could be perhaps and stop hunting the price could come back in my direction.
    Thus, I don't say that do not using stop loss isn't right. I just say that it can not do the job for me. Trading is like each person's personality, it could be subjective.

    To be patient. We do not need to chase the price, that's a losing game. We find a loion where the price action could be intriguing. Place an alarm and wait there to your own PA.. The price comes there and we exchange. We win we lose. The price doesn't arrive there and we have no trade for your day.

    That is my view of this game...

  4. #4
    Junior Member yuste07's Avatar
    18
    Expecting today to sell EURUSD and receive the area 1.1960 for profit.

  5. #5
    Junior Member yuste07's Avatar
    18
    On GBPUSD the supply is not enough at the moment. Thus, waiting to obtain a fantastic amount, around 1.3540 or even better 1.3560, then sell. Maybe news in another hour can help to get there quickly. Target for the brief 1.3460 very first, and 1.3430 perhaps.

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