if u have found sucess in forex, what do u give credit to your sucess story?
also, if u care to share part of your system feel free
also, if u care to share part of your system feel free
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Dislikedif u have found sucess in forex, what do u give credit to your sucess story?
also, if u care to share part of your system feel freeIgnored
DislikedHi,
... My apologies....I do not have a "system" to offer. I use 3 indicators, pivots, Fibs, and an occasional trendline...and I do not trade the news on speed dial. PROTECT your capital!! Admit to yourself when you made a mistake AND correct it! ....
Good LuckIgnored
DislikedHi,
Be capitalized, prepare to work hard, give your blood ,sweat and tears as you would to any biz. Hours of screen time, STUDY, do not fall for everything you read, listen to the market, get a feel for the pulse of each pair you trade, think long term. My apologies....I do not have a "system" to offer. I use 3 indicators, pivots, Fibs, and an occasional trendline...and I do not trade the news on speed dial. PROTECT your capital!! Admit to yourself when you made a mistake AND correct it! Always remember, you are a guppie amongst sharks....instead of putting yourself in their sights, get behind them and follow....keep them in YOUR sights! It is a bit easier to "draft" the big guys, than to be chased by them. I don't concern myself with winning the race, just finishing the race.
My hope is that this helps,
Good LuckIgnored
DislikedHi,
Be capitalized, prepare to work hard, give your blood ,sweat and tears as you would to any biz. Hours of screen time, STUDY, do not fall for everything you read, listen to the market, get a feel for the pulse of each pair you trade, think long term. My apologies....I do not have a "system" to offer. I use 3 indicators, pivots, Fibs, and an occasional trendline...and I do not trade the news on speed dial. PROTECT your capital!! Admit to yourself when you made a mistake AND correct it! Always remember, you are a guppie amongst sharks....instead of putting yourself in their sights, get behind them and follow....keep them in YOUR sights! It is a bit easier to "draft" the big guys, than to be chased by them. I don't concern myself with winning the race, just finishing the race.
My hope is that this helps,
Good LuckIgnored
DislikedHi,
Be capitalized, prepare to work hard, give your blood ,sweat and tears as you would to any biz. Hours of screen time, STUDY, do not fall for everything you read, listen to the market, get a feel for the pulse of each pair you trade, think long term. My apologies....I do not have a "system" to offer. I use 3 indicators, pivots, Fibs, and an occasional trendline...and I do not trade the news on speed dial. PROTECT your capital!! Admit to yourself when you made a mistake AND correct it! Always remember, you are a guppie amongst sharks....instead of putting yourself in their sights, get behind them and follow....keep them in YOUR sights! It is a bit easier to "draft" the big guys, than to be chased by them. I don't concern myself with winning the race, just finishing the race.
My hope is that this helps,
Good LuckIgnored
DislikedHello All,
First post here on the forum. I have been successful in stock & futures options for several years and have been able to cross over that success to forex for the last few years. Fxjarhead's advice caught my eye because it is right on! There is no holy grail, and whether you use indicators, Fibs, trend lines, price action or a combination, much of your ability to succeed boils down to yourself.
I am ultimately a technical trader who is mindful of the major news events, such as NFP tomorrow, as a point of reference. Successful trading requires you to accept that you cannot, nor can any economist, predict the future without a generous margin of error or a list of disclaimers, and you must live within the the mantra of taking what the market will give you, but only when the opportunity presents itself, and know that there is no guarantee that the "opportunity" is a sure thing. This holds true for 1-minute chart scalpers up through long-term position traders. The best thing you can do is seek high probability moves, take those entries and abide by the strictest of rules, and log the success or failure to keep yourself, and your "system" honest. Some of this eventually comes down to gut feel, but accuracy there does not come without the sacrifice and experience that Fxjarhead spoke of. It is ironic really, experience actually educates your gut to know what to look for over time. I would not let the "gut" rule anything until you can master a plan first.
Develop a precise trade plan and marry yourself to that plan and perfect that plan before you decide to judge the plan itself. It is important that you do not fool yourself into believing the plan is flawed vs. honestly evaluating whether you stuck to your own rules. I have been guilty of that in the past, and it still happens from time to time years later. If you have a well thought out plan and actual apply the necessary discipline, I think many of you out there would be suprised with the results. There is always room for improvement within one's self.
Hope that helps anybody and everybody.
Thanks!Ignored
Dislikedgreat posts every one. the mext thing is how do we go about finding our trading style that suits us?Ignored
DislikedHello All,
First post here on the forum. I have been successful in stock & futures options for several years and have been able to cross over that success to forex for the last few years. Fxjarhead's advice caught my eye because it is right on! There is no holy grail, and whether you use indicators, Fibs, trend lines, price action or a combination, much of your ability to succeed boils down to yourself.
I am ultimately a technical trader who is mindful of the major news events, such as NFP tomorrow, as a point of reference. Successful trading requires you to accept that you cannot, nor can any economist, predict the future without a generous margin of error or a list of disclaimers, and you must live within the the mantra of taking what the market will give you, but only when the opportunity presents itself, and know that there is no guarantee that the "opportunity" is a sure thing. This holds true for 1-minute chart scalpers up through long-term position traders. The best thing you can do is seek high probability moves, take those entries and abide by the strictest of rules, and log the success or failure to keep yourself, and your "system" honest. Some of this eventually comes down to gut feel, but accuracy there does not come without the sacrifice and experience that Fxjarhead spoke of. It is ironic really, experience actually educates your gut to know what to look for over time. I would not let the "gut" rule anything until you can master a plan first.
Develop a precise trade plan and marry yourself to that plan and perfect that plan before you decide to judge the plan itself. It is important that you do not fool yourself into believing the plan is flawed vs. honestly evaluating whether you stuck to your own rules. I have been guilty of that in the past, and it still happens from time to time years later. If you have a well thought out plan and actual apply the necessary discipline, I think many of you out there would be suprised with the results. There is always room for improvement within one's self.
Hope that helps anybody and everybody.
Thanks!Ignored
DislikedHi forexyo & welcome to FF ,
I spent a lot of time backtesting my daily method and therefore know the maximum drawdown I am likely to experience and then have tailored a money management method to suit. Backtesting manually also gives you confidence to just stick with it thorugh thick & thin, even when you start wondering when the next winning trade is coming your way. I had a string of 21 consecutive losses not long ago - if I hadn't backtested this, would I have stuck with it? I doubt it.
My journal for those of you that have read it has detailed each and every trade, good, bad & ugly since I started trading live and I am confident that I can succeed by sticking rigidly to my plan. As far as I'm concerned, the only way I will fail is if I don't adhere to my rules.
It's all about finding 'the edge' and then being persistent & consistent in what you do.
Just my two penneth....
Kind Regards
SteveIgnored
DislikedTime and experimenting. You wont find it overnight. the process gets rough but if you learn everything you can, youll find something that works for you and succeed with it.Ignored
DislikedHello forexyo,
PLEASE NOTE: I am not picking on DailyFX... ALL the other brokers are exactly the same....THEY DON"T KNOW WHERE THE MARKET IS GOING ... nobody knows where the market will be next week.
The point that I am trying to say is that you should do your own analyses and make your own decisions about trading.Ignored
DislikedWhat works for one trader, does not work for the other. For example, I prefer not to watch the market tick by tick when I'm in a trade. Therefore, I trade longer time frames, set my TP and SL and tune out. I set price alerts at the those levels and when the message comes, I check my account to insure the price has actually hit and the orders have been filled. In conclusion, I realized this mental block keeps me away from scalp trades.Ignored
Dislikedif u have found sucess in forex, what do u give credit to your sucess story?
also, if u care to share part of your system feel freeIgnored
Dislikedif u have found sucess in forex, what do u give credit to your sucess story?
also, if u care to share part of your system feel freeIgnored
Dislikedif u have found sucess in forex, what do u give credit to your sucess story?
also, if u care to share part of your system feel freeIgnored