10 Things I Focus On As A Trader

10 Things I Focus On As A Trader

From newtraderu.com

One of the best things a trader can have is a filter that allows them to see what matters and what does not. Knowing where to focus our effort and time at to be a profitable trader is crucial. Some things will make us money and some things will cost us a lot of money and divert our attention from what does matter. Here are the 10 things I focus my time, energy, and attention to primarily: I focus on what the current price action in the markets may be telling me based on support, resistance, gaps, moving averages, and a few technical indicators. I study how price action played out on historical charts of the stock ... (full story)

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Post #1
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Apr 9, 2014 5:36pm Apr 9, 2014 5:36pm

Rtm
Joined Jan 2011 | Status: dump and pump | 913 Comments

Good for you pal, there is so much more to FX though than just yourself and what you do. There are other just as important varibles and factors too that should come first before even thinking about a trade such as fundamentals, carry trades, monetary policy, indices, commodities, etc. Risk/Reward and Moving average crap should have the least amount of time spent in comparison to developing your feel for the direction and mind of the market you wish to trade.

Post #2
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Apr 9, 2014 6:01pm Apr 9, 2014 6:01pm

jimmywong
| Joined Mar 2014 | Status: HERCULES IS BACK | 14 Comments

monetary policy cycle of particular countries that matters.

Post #3
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Apr 9, 2014 6:11pm Apr 9, 2014 6:11pm

posi2go
| Joined Oct 2013 | Status: Member | 5 Comments

In Forex, fundamentals don't matter. look at your charts. The chart is telling you the whole story.

Post #4
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Apr 9, 2014 6:17pm Apr 9, 2014 6:17pm

Rtm
Joined Jan 2011 | Status: dump and pump | 913 Comments

Quoting posi2go

Disliked

In Forex, fundamentals don't matter. look at your charts. The chart is telling you the whole story.

Ignored

Lol right. Keep telling yourself that.

Post #5
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Apr 9, 2014 7:35pm Apr 9, 2014 7:35pm

Jhig
Joined Oct 2008 | Status: Sentiment and Global Macro | 1 Comment

Quoting posi2go

Disliked

In Forex, fundamentals don't matter. look at your charts. The chart is telling you the whole story.

Ignored

Yeah, right! Cool story bro. Tell me more. XD

Charts should be the last thing on your mind. Monetary policy and market cycles are definitely on the top of a long list of things that matter.

Post #6
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Apr 10, 2014 1:03am Apr 10, 2014 1:03am

posi2go
| Joined Oct 2013 | Status: Member | 5 Comments

The chart is always telling a story. The chart is a representation of all aggregates affecting a particular security. If you can read a chart the same way an experienced doctor can read an x-ray, then you will understand the story that the chart is telling you. And you can position yourself accordingly.

Post #7
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Apr 10, 2014 10:39am Apr 10, 2014 10:39am

revival_fx
| Joined Nov 2013 | Status: People aren't random. Ergo Markets. | 1 Comment

Monetary policy is easy to find But where does one look to study market cycles? I understand the debt cycle and such, but market cycles.... I'm not exactly sure how to gauge that.

At this point all the majors are in varying stages of getting their economy out of the toilet. Some have been doing it longer than others. Some are just starting. Is this what you mean by market cycle?