Hi Friends,
best wishes and greetings from the mountains in Switzerland. Life is wonderful, besides some occasional occurring rock/ice-falls.
Thank you all for participating in this thread over the last days. Very good work.
But as in the mountains with its rockfalls, situations in Forex trading can heat up, especially when decisions have to be taken fast. Some of the comments in the thread over the last days are a reflection of the tension.
I think, to be a good trader requires to be in balance with yourself and your environment. I named the progenitor of this thread Shangri-La for some good reason.
When I created this new thread, I called it "The Club" for the very same reason, namely to reflect, that the participants of the thread should build a sense of togetherness (teamspirit).
In this way we can achieve, that we all can learn from another and be supportive.
In achieving this we have to accept, that we all have our own ways of thinking and trading. Some traders trade on very small TF's for a few pips, others are more swing traders, and others are only looking for some very big swings. Each TF you trade has its own measures and anticipations and expectations.
Some traders here do only open occasionally a position, whereas others are very active (like Schickeria and Forexcube) with many many open positions at the same time. Management of many open positions, especially when taken in different pairs, are a high sophisticated art. Everyone who wants to learn and to understand how you can do such things may read several of Forexcubes fine threads, where he very nicely explains his methods of trading and money management. Some topics here are dealing with many smaller accounts instead of one big one, LOM, and many more.
Please, also keep in mind, that some traders here are even working with translators (and doing a fabulous job with it) which at some times can be a source of misunderstandings.
As much as I appreciate the contributions of Schickeria and Forexcube (as our top contributors in sense of calling trades), for example (there are many others here, which work I appreciate as well), I appreciate the work of Godim, who brings us the merits of Gann. For me it is very useful and I would miss it, if he would stop contributing. For some his charts may look like a picture of modern art, but for the people acquainted with Gann and Murrey Math they are a very good source of information.
Yes, it would be nice, if he would share with us how he trades. But I can fully accept it, when he offers only analysis. I have stated it over and over, that calling trades can badly influence your trading habits from a psychological point of view.
So as a reminder, the goals of this thread are (as can be found on the front page):
Purpose of this thread:
a) offer analysis
b) offer entry/exit in a timely manner - if not able to do in a timely manner (within minutes) abstain from publishing them in order to avoid
discussions and rantings
c) discussions regarding trading
The topics are not meant to be additive. It is fine if you only deliver one of them.
Be a community. Be tranquil. Be successful.
Stay healthy and enjoy the weekend,
yours,
Markus (back to climbing now)
best wishes and greetings from the mountains in Switzerland. Life is wonderful, besides some occasional occurring rock/ice-falls.
Thank you all for participating in this thread over the last days. Very good work.
But as in the mountains with its rockfalls, situations in Forex trading can heat up, especially when decisions have to be taken fast. Some of the comments in the thread over the last days are a reflection of the tension.
I think, to be a good trader requires to be in balance with yourself and your environment. I named the progenitor of this thread Shangri-La for some good reason.
When I created this new thread, I called it "The Club" for the very same reason, namely to reflect, that the participants of the thread should build a sense of togetherness (teamspirit).
In this way we can achieve, that we all can learn from another and be supportive.
In achieving this we have to accept, that we all have our own ways of thinking and trading. Some traders trade on very small TF's for a few pips, others are more swing traders, and others are only looking for some very big swings. Each TF you trade has its own measures and anticipations and expectations.
Some traders here do only open occasionally a position, whereas others are very active (like Schickeria and Forexcube) with many many open positions at the same time. Management of many open positions, especially when taken in different pairs, are a high sophisticated art. Everyone who wants to learn and to understand how you can do such things may read several of Forexcubes fine threads, where he very nicely explains his methods of trading and money management. Some topics here are dealing with many smaller accounts instead of one big one, LOM, and many more.
Please, also keep in mind, that some traders here are even working with translators (and doing a fabulous job with it) which at some times can be a source of misunderstandings.
As much as I appreciate the contributions of Schickeria and Forexcube (as our top contributors in sense of calling trades), for example (there are many others here, which work I appreciate as well), I appreciate the work of Godim, who brings us the merits of Gann. For me it is very useful and I would miss it, if he would stop contributing. For some his charts may look like a picture of modern art, but for the people acquainted with Gann and Murrey Math they are a very good source of information.
Yes, it would be nice, if he would share with us how he trades. But I can fully accept it, when he offers only analysis. I have stated it over and over, that calling trades can badly influence your trading habits from a psychological point of view.
So as a reminder, the goals of this thread are (as can be found on the front page):
Purpose of this thread:
a) offer analysis
b) offer entry/exit in a timely manner - if not able to do in a timely manner (within minutes) abstain from publishing them in order to avoid
discussions and rantings
c) discussions regarding trading
The topics are not meant to be additive. It is fine if you only deliver one of them.
Be a community. Be tranquil. Be successful.
Stay healthy and enjoy the weekend,
yours,
Markus (back to climbing now)