Can YOU make money as a trader?

It is becoming obvious that all the posters here are advocating their own trading methods as the only important ones. The point is that there successful traders using many different methods.
For instance, One poster here maintained that NU was going to fall based on his analysis. Someone else may reach the same conclusion based on a different analysis. E.G. right now NU appears to be forming a Wolfe Wave on the H1 chart, or Stochastics indicate an overbought condition, or it is hitting the 62% fib, (sorry can"t see a S&D situation). It is nice to advocate your own method or system in your own thread, but please keep your mind open to the fact that there are many ways of trading profitably, and a trader must find the one which works for him. Also the trader must accept the fact that none of the above may play out the way he expects in all situations.

Agreed.... therefore I shall stop sharing the way I trade here.

Cheers

there are volume indicators on NT8 (noshit mt4) , which can make trading very easy, with good moneymanagement. good levels set, but grat only for full time traders. for mě it is usable aslo, but must be more clever in 55 tick TF.

You are right there cableguy. I strongly believe the same. I trade the minute chart and very succesful with it. I call every trade i take within 10 seconds of taking them and post in journal . I trade the naked chart .Nothing else

As i say, people just like to complicate the matter;

you are looking on "supply' and "demand" zones on 15 second chart (or equivalent tick chart)?

You are joking, right?

Sure - 'joking', 'laughing'.... whatever you want to call it really.

You "forgot" show spread for that instrument. And you "forgot" to explain where on those "supply" and "demand" zones supposed to be entry and exits.

That is reality check for "full time trader"

This is not the thread for you. Try here.....

ok, let me put my 2 cents on this subject. First people that argue are not of my interest (anymore).

My opinion is simple. As someone who have studied and tried and read almost everything out there, system wise, psychology wise let me put why I believe will make you a sucessful trader.

Imo it comes down and it's all about having the right knowledge, no more no less. Only knowledge will give you that ultimate feeling that you dont gamble. Or at least, having very high odds in your favour.

good example is this, if you got the right knowledge at the beggining in your journey, (of course if you have it anyway) than your path would be much easier, and there wouldn't be as many scars left later on.

I always believed that diversification is key in having an edge over majority of traders. No matter your situation in life, no matter your personality, no matter how smart you are, in the end it's all about having the right knowledge. Knowledge how markets operate, why price moves and how.

What striked me also, when I finally received the right knowledge 2 years ago I was simply shocked at one thing. We all look at the same chart, we all see different things of course but, if someone doesn't tell you what to look for, you might never see certain things on the same chart you were looking for years.

So knowledge is key in trading. How to get it? Imo nr. 1 reason people don't have the right knowledge is ego. That proves my point why woman are better traders than man, because they don't have testosterone hormone. You may heave heard about that a lot, and it's scientifically proven, that's why bigger firms hire woman in money/risk management department. Of course your intelligence also helps by being more open to new things but imo, it also comes down how emotional intelligent you are also.

So the reason is ego, on your path of learning you simply have to ask questions, not just being hungry, but objectively the more people you talk to and ask questions, and suck their knowledge from, the more chance you will have to find not just knowledge, but the right knowledge that suits your personality. And guess what, majority of people DON'T ask questions. They will talk on and on what they know, despite that that knowledge doesn't make them money anyway.

Further so, problem is getting the knowledge from traders you never know how successful they really are. So later down the road, I managed to sense if a trader is profitable or not, and let me tell you, once you understand that and learn only from traders that do make money, that becomes key in your learning curve.

I am not saying you have to have ultimate knowledge, some simply make money with MA's crossovers, but reality is, they are usually in this business for a long time and fact is they would be far more successful to have more knowledge after they got out of psychology barriers in our business.

So why most people fail in trading and never got the right knowledge? Yep, ego.

...

Check in dictionary what word "forum" means. Oxford is good enough for you, or too low?

"A meeting or medium where ideas and views on a particular issue can be exchanged."

https://en.oxforddictionaries.com/definition/forum

I feel compelled to answer. Things in written form can easily be minsconstrued and have different meanings as to what was intended, but i take it that the last sentence was a derogatory remark.

I have learnt enough about myself, however, that i always suspect the worst, when reality is often different. It's not a great characteristic to have, but hey ho, life shaped me that way.

The chart is of the NQ (Nasdaq). It is the futures market. There is no spread (other than the auction itself, prices go from the buy side to the sell side within the same tick).

The movement of 40 points is 160 ticks (this makes it the equivalent to the Dow's moves per point). So, regardless of the time element, you are seeing buys and sells that are moving it the equivalent of 160 odd points on the Dow.

I mentioned before, to find an instrument that moves. Really moves. You can trade for an hour and cover the same distance that an FX pair takes days to cover.

So, you tell me... Mr Wiseguy, why do you want to wait?

Regarding entries and exits. Generally the entry will be the candlebody of the starting pinbar, but it will vary. In the end, it comes down to experience.

I'm not sure that i have the time or inclination to explain it all, but you have to find your favourite set-ups;

Here's an example of the reaction at the prior pinbar at the start of the move;





On a much smaller scale the pinbar itself, spread out over several candles will usually look like a 123.

Here's an example;

a set-up on the 30 minute chart shows the reaction off of the pinbar, but on a faster tick scale, it shows that it is the point 2 of the initial 123 that is retested. In EW terms, that is a retest of the Subwave (i) of the prior cycle;

30min;



Same set-up but on tick chart;



Using EW we can see that the pullback was in 3 waves (ABC) with wave C = exactly 123.6% of wave A (common).

Even if you missed taking the trade there, you can scale in as it is fractal and we see the same again, but on a smaller scale;

Here again, we see an ABC corrective move with wave C = exactly 200% of wave A, but we need to let it react first, cos we can only see it in hindsight. Most people think that it is too late by then, buy why?



PA breaks out of it's channel, so we then look to sell the retest of the starting pinbar. The thinking of the pullback being corrective means that the target is a fresh low.

I see now that you were indeed trying to be a wiseguy, so that's the end of any interaction from me. Sorts like yourself are everywhere. Go and play your little games with someone else...