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Professional trader

  • #1
  • First Post: Edited 2:22am Feb 25, 2010 2:07am | Edited 2:22am
1Fundamental analys= forexfactory/daily fx/Fxstreet
2Tecnical analysis=Meta trader
3Price action
4Order flow= IFRS/ or hotspot fxi
5Historical data=
6 Market structure
7 Emperical studies
Fill out this please, with more sources to get the information from, or more types of data to base your trade on, that i may obviously not know of.
  • #2
  • Feb 25, 2010 2:44am Feb 25, 2010 2:44am
Quoting woo
1Fundamental analys= forexfactory/daily fx/Fxstreet
2Tecnical analysis=Meta trader
3Price action
4Order flow= IFRS/ or hotspot fxi
5Historical data=
6 Market structure
7 Emperical studies
Fill out this please, with more sources to get the information from, or more types of data to base your trade on, that i may obviously not know of.
Pro Traders uses:
1) Reuters, Bloomberg, Interactive Data, Thompson, Proprietary Data (Protraders rely on solid, biased/unbiased global data)
2) Bloomberg Terminal, eSignal Terminal, Reuter Terminal, Broker Platform, Proprietary Custom Platform
3) Price Action, Moving Averages, MACD, S/R Levels, Word-of-Mouth
4) I'm not exactly sure what you are referring to.
5) Current/Future Outlooks. (Protraders done care about the past)
6) Empiricism and/or Mathematical Models (maybe, maybe not ... with most traders the answer is No.)
  • #3
  • Feb 25, 2010 3:54am Feb 25, 2010 3:54am
Obvious ones you're missing out on are COT reports and retail sentiment (Oanda/Dukas/FXCM) and the biggest of all - other traders / contacts. Information game and all that.

I'd hazard a guess that those running quant models don't usually combine it with other information sources, and that good fundamental analysis is on a longer timeframe, therefore the incessant chatter from any daily fundamental news service is pretty meaningless compared to quality longer-term analysis you find in the broadsheets.
  • #4
  • Feb 25, 2010 11:23am Feb 25, 2010 11:23am
[quote=Jhig;3497201]Pro Traders uses:
1) Reuters, Bloomberg, Interactive Data, Thompson, Proprietary Data (Protraders rely on solid, biased/unbiased global data)
2) Bloomberg Terminal, eSignal Terminal, Reuter Terminal, Broker Platform,

Of the ones you mentioned, which ones are for free? If not, are there any substitutes that are for free?` And to get some insight, what more information does the non substitutable bring to the table?

Though, i know that reuters and bloomberg is not for free and e signal, but ive never used them and do not know there advantages compared to free resoucres.

I would very much appreciate an answer for this, and i think other traders would as well.
  • #5
  • Mar 10, 2010 5:49am Mar 10, 2010 5:49am
What im personally using in my analysis:

1 Forexfactory fundamental calender
2 Order flow
3 Cot reports
4 Price action, volatility
5 value analysis on different time frames.
6 interest rate differential
7 trend lines, bollinger bands, technical levels.

This is fine for me.
  • #6
  • Mar 10, 2010 6:32am Mar 10, 2010 6:32am
Quoting Jhig
Pro Traders uses:
1) Reuters, Bloomberg, Interactive Data, Thompson, Proprietary Data (Protraders rely on solid, biased/unbiased global data)
2) Bloomberg Terminal, eSignal Terminal, Reuter Terminal, Broker Platform, Proprietary Custom Platform
3) Price Action, Moving Averages, MACD, S/R Levels, Word-of-Mouth
4) I'm not exactly sure what you are referring to.
5) Current/Future Outlooks. (Protraders done care about the past)
6) Empiricism and/or Mathematical Models (maybe, maybe not ... with most traders the answer is No.)
your number 3 contradicts your number 5 (...) statement.
  • #7
  • Mar 10, 2010 7:30am Mar 10, 2010 7:30am
I don't want to detract from all the previous statements as they are all important but in my opinion the most important facet of trading is practice.

Practice, Practice, Practice.

Ask yourself how did Tiger woods get where he is or how did Bill Gates get there, perseverance, blood sweat and tears. No matter what path you take in life if you want to be successful it will require a mammoth commitment and more screen time or practice than you ever imagined.

If you are really that serious about trading you will find success in the end but mark my words it will be a long and winding road.

When discussing trading with other traders one of the first things that comes to mind is have you ever heard of NLP (neuro-linguistic programming). This in its simplest form is an association technique where through repetition one can teach themselves to associate positive results with positive actions.

By focusing on these situations and through repetition we are able to recognize more readily which ones are high probability trades and which are not.

Believe me this is a widely used technique and if you are unfamiliar with the theory try reading some of Van Tharp's work or Trader Vic ( Victor Sperandeo). Anthony Robbins was another that applied these techniques but not directly at trading but still just as effective.

The principles are sound and simple, and if applied correctly the results can be excellent.

I suppose my point is its not all about the data and fundamentals and technicals etc but also about trading, the actions and the processes themselves.

Good luck and I hope you find your path.

Perryg
  • #8
  • Mar 10, 2010 7:48am Mar 10, 2010 7:48am
Quoting woo
1Fundamental analys= forexfactory/daily fx/Fxstreet
2Tecnical analysis=Meta trader
3Price action
4Order flow= IFRS/ or hotspot fxi
5Historical data=
6 Market structure
7 Emperical studies
Fill out this please, with more sources to get the information from, or more types of data to base your trade on, that i may obviously not know of.
!
  • #9
  • Mar 10, 2010 8:00am Mar 10, 2010 8:00am
Quoting Porkpie
your number 3 contradicts your number 5 (...) statement.
reason being?
  • #10
  • Mar 10, 2010 8:08am Mar 10, 2010 8:08am
Quoting Platypus
!
Look at my journal. im pro man. on that journal, i had 57 trades, with only 6 losses, where average win was bigger than average loser, so i ended up with a very nice return. Im still doing extensive research. How are you supposed to be a pro without putting in lots of hours, and do the hard work? I can imagne the people who start trading forex, are lazy people in general, who are not cut for forex, trying to get rich soon. And that people just hang out here, without trading.

Im reading researches,scientific researches,books,trading and contemplating trading all the time. I breath currencies. No one should laugh at anyone. Trading is already hard as it is.
  • #11
  • Apr 13, 2010 6:13am Apr 13, 2010 6:13am
In the majority of cases, professional traders don't use any indicators or advisos. they develop their trading strategy.
  • #12
  • Apr 13, 2010 6:28am Apr 13, 2010 6:28am
Quoting woo
Look at my journal. im pro man. on that journal, i had 57 trades, with only 6 losses, where average win was bigger than average loser, so i ended up with a very nice return. Im still doing extensive research. How are you supposed to be a pro without putting in lots of hours, and do the hard work? I can imagne the people who start trading forex, are lazy people in general, who are not cut for forex, trying to get rich soon. And that people just hang out here, without trading.

Im reading researches,scientific researches,books,trading and contemplating...
ok not be a jerk here, but just because you have 57 trades and 6 losses does not make you a pro and furthermore coming out on a forum such as ff claiming you are a pro only makes you look like a noob who is a wannabe, now maybe you are trying to convince yourself that you a pro and that you have selected the right path for yourself but really only your trading over a long period of time can truly accomplish that task.
  • #13
  • Apr 13, 2010 6:30am Apr 13, 2010 6:30am
Plain charts
Prime broker
Execution platform


regards
daytrading
Enter Signature
  • #14
  • Apr 13, 2010 6:33am Apr 13, 2010 6:33am
Quoting daytrading
Plain charts
Prime broker
Execution platform
From the horses mouth

(that's twice you've been called Horse this week DT!)
  • #15
  • Last Post: Apr 13, 2010 6:42am Apr 13, 2010 6:42am
Quoting AstonDan
From the horses mouth

(that's twice you've been called Horse this week DT!)
hmmm....might win the Grand National next year.

regards
daytrading
Enter Signature
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