DislikedUJ M15 +21 (avg. +4.2 @ 5 lots) Explanation on chart and may be more steam left in this up move but closed due to Friday and lots of position closing & profit taking prior to the week end....... {image}Ignored
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DislikedUJ M15 +21 (avg. +4.2 @ 5 lots) Explanation on chart and may be more steam left in this up move but closed due to Friday and lots of position closing & profit taking prior to the week end....... {image}Ignored
Disliked{quote} I was in the same situation as you when i first started learning how to scalp. I used to trade the 4hr and 1hr chart for a long time. Take them on a demo account. Trust me, i don't know how to explain it but when you actually take the trade, even if it's virtual money your brain get used to it and the emotional aspect will take care of itself. Watching a good trade go by and not take it will only make things worse. Take those trades and post them here win or loss and you will benefit either way. If you lose you'll get feedback to get better...Ignored
Disliked{quote} I truly appreciate you taking the time to share your experience. Honestly, I think trading demo was part of my problem. I demo traded short time-frames for a little over a year. I took trades with no hesitation and did very well on demo. I thought to myself "I've got this". I went live and had a large loss because I let the trade get away from me. This in return instilled fear into me that I've been trying to shake for over 6 months. In demo land it's so easy because it's not real. I would much rather trade micro 10 cent pips and have a...Ignored
Disliked{quote} I'm not a fan of demo trading unless used for testing purposes. IMO every trader should trade live no matter how small to get the feel of pulling the trigger with real $$$$.......as live requires totally different mind set..... Have a Great Week End All and Stay GREEN next week....Ignored
DislikedNew traders usually load their charts with lots of squiggly line indicators to start, thinking they will work as a "Security Blanket" helping with trading decisionsIgnored
Disliked{quote} I took trades with no hesitation and did very well on demo. I thought to myself "I've got this". I went live and had a large loss because I let the trade get away from me. This in return instilled fear into me that I've been trying to shake for over 6 months. In demo land it's so easy because it's not real. I would much rather trade micro 10 cent pips and have a...Ignored
Disliked{quote} I thought to myself "I've got this". I went live and had a large loss because I let the trade get away from me. This in return instilled fear into me that I've been trying to shake for over 6 months. In demo land it's so easy because it's not real. I would much rather trade micro 10 cent pips and have a little skin in the game solely for psychological reasons. I'm currently in the process of studying this thread and setting small goals for myself to overcome this. I WILL overcome this in due time. It's really ridiculous when I think about...Ignored
Disliked{quote} Seldom visit trading sites but a few months ago I discovered a few threads in this forum which are quite interesting and this is one of them that got my interests. Not that I scalp, but a lot of posters in this thread paint a picture that institutional MMs are evils/thieves who manipulate prices all the time and I used to trade in instiutions most of my life in both forex and equity space (both buy side as well as sell side) and I can't exactly be sure if I was ever evil or not This...Ignored
QuoteDislikedLearing to trade profitably and consistently takes a really long time. It took me quite some time to hone my skills and to learn from my from seniors when I first started my career, and I can imagine the level of difficulties that ordinary home/retail traders face when they have no formal training to rely on. Fear once got to me as well when I was relatively new as our trading size was large and I have to be responsible to the banks and clients about what I did, and I saw traders come and go throughout my whole career (I am now retired)...
QuoteDislikedtraders are falling for a "false sense of security" or "false sense of control", just like those resorting to trade with indicators. If you want to learn to trade profitably with the method in the thread or with any other methods and to know what MM's intentions are, try getting rid of anything that gives you this false sense of security/control and to focus only on learing the real factors about how the market really works and not any kinds of fancy indicators/chart formats etc. as they will lead you to nowhere.
QuoteDislikedAlso try to get any indicators out of the way as they are not helpful at all (see my above post to the OP). I also saw your other posts about using other kinds of candles/chart formats like ticks, Henki Ashi, range, etc. My advice is to get rid of those as well and to stick and master well with time-based charts. To be "in-sync" with the big institutional traders, you have to know at least roughly what tools they are using. I've read quite a number of posts in this thread a few months back and the main theme of this trading method...
QuoteDislikedI can't exactly be sure if I was ever evil or not This thread has some nice ideas on a scalping level and I agree with the OP (cigarguy) that indicators work only as a "Security Blanket" when indeed they are not really helpful at all and this is always true doesn't matter if the trading horizon is short term as in scalping or long term as in "investing".