No, not from Forex...but, from certain markets.
Example.
This last week.
On Monday, all the indicators I use showed that this would be a tough week using my methods. I couldn't get a definite direction for things, and everything looked like it was going to be up and down.
So I wrote to myself..."DON'T TRADE THIS WEEK!"
I put it on a sticky, stuck it on my computer...and just sat back. Proud of myself while I watched friends pull out their hair on intraday trading.
Monday came, and I watched the markets. Tuesday came and I watched the markets. Wednesday came and I watched the markets. Damn, I thought...I'm psychic. No way I shoulda been in there...and I wasn't.
Then came Thurdsay.
I made 12 intraday trades on Thursday. For a grand total of a -39 pips. The end of the day I'm thinking..."what the hell are you thinking, your damn lucky that's all you lost."
Then came Friday.
I made 3 trades...total -19 pips. Lucky again.
So today I'm walking around in a confused daze. I told myself not to trade this week...I wrote it down. I bragged to people that this week was gonna suck, and stay the hell out. In each of my daily reports (I write down my analysis every day before I start anything) it says..."DON'T TRADE TODAY!" Every day it says that, bolded and underlined!
I have a problem.
My problem is...I cannot NOT watch the markets. Even when I know I'm not gonna trade, I'll still watch them. And all a sudden, something just pops up, and I'm in. I'm actually proud of myself for watching the markets for 10 hours Mon-Wed and not pulling the trigger. But, I think 3 days is my limit
Which brings me to another question.
I know how to follow a trend. I can make pips in a trending market. Actually, I think most people can. It's those damn consolidating, up & down markets that I always lose at (u think I'm unique here?) And being a "trader"...it's like impossible to stay away from your job for days, or weeks at a time while the markets go through this faze.
So I'm gonna ask...has anyone developed any type of system that gets them pips consistenty in a sideways, consolidating, or up and down market?
Cuz the only way I've learned how to trade it...is NOT to trade it.
And apparently, that ain't workin'.
SF
Example.
This last week.
On Monday, all the indicators I use showed that this would be a tough week using my methods. I couldn't get a definite direction for things, and everything looked like it was going to be up and down.
So I wrote to myself..."DON'T TRADE THIS WEEK!"
I put it on a sticky, stuck it on my computer...and just sat back. Proud of myself while I watched friends pull out their hair on intraday trading.
Monday came, and I watched the markets. Tuesday came and I watched the markets. Wednesday came and I watched the markets. Damn, I thought...I'm psychic. No way I shoulda been in there...and I wasn't.
Then came Thurdsay.
I made 12 intraday trades on Thursday. For a grand total of a -39 pips. The end of the day I'm thinking..."what the hell are you thinking, your damn lucky that's all you lost."
Then came Friday.
I made 3 trades...total -19 pips. Lucky again.
So today I'm walking around in a confused daze. I told myself not to trade this week...I wrote it down. I bragged to people that this week was gonna suck, and stay the hell out. In each of my daily reports (I write down my analysis every day before I start anything) it says..."DON'T TRADE TODAY!" Every day it says that, bolded and underlined!
I have a problem.
My problem is...I cannot NOT watch the markets. Even when I know I'm not gonna trade, I'll still watch them. And all a sudden, something just pops up, and I'm in. I'm actually proud of myself for watching the markets for 10 hours Mon-Wed and not pulling the trigger. But, I think 3 days is my limit
Which brings me to another question.
I know how to follow a trend. I can make pips in a trending market. Actually, I think most people can. It's those damn consolidating, up & down markets that I always lose at (u think I'm unique here?) And being a "trader"...it's like impossible to stay away from your job for days, or weeks at a time while the markets go through this faze.
So I'm gonna ask...has anyone developed any type of system that gets them pips consistenty in a sideways, consolidating, or up and down market?
Cuz the only way I've learned how to trade it...is NOT to trade it.
And apparently, that ain't workin'.
SF