This will be a topic where we basically wait and anticipate for price to reach our levels.
Why? Because i noticed that 90% of the traders make use of high frequency trading. This includes on average 10+ trades a day for many in here.Without going into too much detail i personally think this has to do with that many of them have the urge of exposing their equity in the market. Their time spend watching their screen should pay off, otherwise it is a waste of time according to this group of traders.
I personally started with high frequency trading also, as do most traders in a way i guess. HF Scalping was the way to make quick money / quick compounding of capital. I am sure there are quite a few profitable scalpers out there that place alot of orders a day. I however was not able to find so many succesful setups intraday.
I like to have all triggers in place and cherrypick the best trades. How good this sounds this can actually be a real pain. It asks for a tremendous amount of patience and the temptation can be big to "cheat" your way out with a few extra trades that are not fitting the ideal criteria to enter.
Yet, it feels good to spot and trade rare opportunities, because they feel rather special, they are dealt with much more intense, in a correct way. Example, the earlier manual close of a trade will happen less often because you realize it can take tons of time for a new setup to develop.
What we will discuss & not discuss in here
We will not discuss (post-)results(as for TP's hit / $ gained) of trades; we will instead talk about the pre-phase of upcoming trades. This does not have to include price info whatsoever. I for one will not share my exact entries/tp's/sl's on public forums like this one. This will basically be a place where we support fellow traders that trade a similar way, cherrypicking the best and realizing waiting is the biggest chunk of time involved with forex. Waiting is good , the problem is that nowadays we kept being told that time is money, conditioning many traders in a completely wrong way.
Input can come in many ways. Giving your own opinion/experience about cherrypicking the best trades/dealing with patience for example, fundamental/TA analysis of your trades, or a simple "order hit! / order missed" is all fine.
Oh, by the way, personally i have 1-2 trades per week at most. Of the 10 orders placed, perhaps 2 will actually get hit.
Why? Because i noticed that 90% of the traders make use of high frequency trading. This includes on average 10+ trades a day for many in here.Without going into too much detail i personally think this has to do with that many of them have the urge of exposing their equity in the market. Their time spend watching their screen should pay off, otherwise it is a waste of time according to this group of traders.
I personally started with high frequency trading also, as do most traders in a way i guess. HF Scalping was the way to make quick money / quick compounding of capital. I am sure there are quite a few profitable scalpers out there that place alot of orders a day. I however was not able to find so many succesful setups intraday.
I like to have all triggers in place and cherrypick the best trades. How good this sounds this can actually be a real pain. It asks for a tremendous amount of patience and the temptation can be big to "cheat" your way out with a few extra trades that are not fitting the ideal criteria to enter.
Yet, it feels good to spot and trade rare opportunities, because they feel rather special, they are dealt with much more intense, in a correct way. Example, the earlier manual close of a trade will happen less often because you realize it can take tons of time for a new setup to develop.
What we will discuss & not discuss in here
We will not discuss (post-)results(as for TP's hit / $ gained) of trades; we will instead talk about the pre-phase of upcoming trades. This does not have to include price info whatsoever. I for one will not share my exact entries/tp's/sl's on public forums like this one. This will basically be a place where we support fellow traders that trade a similar way, cherrypicking the best and realizing waiting is the biggest chunk of time involved with forex. Waiting is good , the problem is that nowadays we kept being told that time is money, conditioning many traders in a completely wrong way.
Input can come in many ways. Giving your own opinion/experience about cherrypicking the best trades/dealing with patience for example, fundamental/TA analysis of your trades, or a simple "order hit! / order missed" is all fine.
Oh, by the way, personally i have 1-2 trades per week at most. Of the 10 orders placed, perhaps 2 will actually get hit.