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Part Time Trader

  • #21
  • Apr 13, 2018 6:34am Apr 13, 2018 6:34am
Quoting mlawson71
{quote} I am not too fond of them. I have a hard time trusting anyone who isn't me with my trading.
Thank your quick replay! I have very bad experience on couple of signal services; I see they are good at Photoshop.
  • #22
  • Apr 13, 2018 7:19am Apr 13, 2018 7:19am
Quoting GeorgeBaile
{quote} Thank your quick replay! I have very bad experience on couple of signal services; I see they are good at Photoshop.
Depends on where you get them. Most people who know what they are doing are not worried about sending signals out to people, unfortunately.

If you have someone that someone has been using for a long time and is consistent, or you can see their trade history and know (really know) how to analyze their traders and trader psychology, it may be worth it.

It's probably more worth your time trading off the daily, or some safer commodities, or stocks.
  • #23
  • Apr 13, 2018 9:45am Apr 13, 2018 9:45am
Quoting GeorgeBaile
{quote} Thank your quick replay! I have very bad experience on couple of signal services; I see they are good at Photoshop.
I am so sorry you've had such bad experiences. Most of my bad experiences have revolved around scammy brokers, but it always hurts to be lied to.
  • #24
  • Apr 13, 2018 11:14am Apr 13, 2018 11:14am
Quoting GeorgeBaile
{quote} Thank your quick replay! I have very bad experience on couple of signal services; I see they are good at Photoshop.

They don't need to be good at photoshop. You can post edit traders via MT4 manager, you can have 2 accounts and take buys on one and sells on the other. You can pretty much "prove" anything you want if you have access to broker level software.
  • #25
  • Apr 13, 2018 12:40pm Apr 13, 2018 12:40pm
Quoting GeorgeBaile
{quote} Thank your quick replay! I have very bad experience on couple of signal services; I see they are good at Photoshop.
often signal service like mql5, will show you result as % of balance when displayed....
sometimes looking a bit behind the numbers you will find that the signal showing a 10% gain for last month actually gained only 2%, or even lost -5% of equity...but yes, balance is up.
only the problem you can withdraw equity not balance.
there is always, always another trade!!
  • #26
  • Apr 13, 2018 2:23pm Apr 13, 2018 2:23pm
As a part time trader its really difficult to survive in here , full time traders are not completely successful from this trading place , so in order to me, there is a very few possibility to be a successful trader by a part timer in Fx trading .
  • #27
  • Apr 13, 2018 8:21pm Apr 13, 2018 8:21pm
Daily or or weekly. Especially if you work or go to school. You can spend extra time in analyzing trades and controlling your money management. The key to surviving and thriving in this market

-Ric
Be humble or get humbled
  • #28
  • Apr 18, 2018 2:05am Apr 18, 2018 2:05am
You could try with some automatically trading EA. So, in your free time, you just have to turn it on and turn it off
  • #29
  • Apr 18, 2018 6:26am Apr 18, 2018 6:26am
In my view long term trades on bigger frames would be most suitable for people with limited time for trading. As usual, I would not recommend signals and EA trading. Call me mistrustful if you wish, but I cannot put my money in the hands of something which is not under my full control .
  • #30
  • Apr 18, 2018 6:52am Apr 18, 2018 6:52am
Trade pairs with big interest rate differences like NZD/CHF GBP/NZD and so on. Go for a direction that generates positive swap this way you can treat your position as investment that generates dividends rather than speculation. Of course it is more complicated than that, you will have to create yourself money management strategy that will keep you in a game. System must prevent financial failure in case price moves against you for a long period of time and it must allow you to suck gains either from positive swap or from beneficial price movement.

P.S. Don't forget to hedge and don't put all eggs in one basket.
P.S.S. NO HUGE LOTS.
  • #31
  • Apr 18, 2018 9:23am Apr 18, 2018 9:23am
Quoting w00d1s
Trade pairs with big interest rate differences like NZD/CHF GBP/NZD and so on. Go for a direction that generates positive swap this way you can treat your position as investment that generates dividends rather than speculation. Of course it is more complicated than that, you will have to create yourself money management strategy that will keep you in a game. System must prevent financial failure in case price moves against you for a long period of time and it must allow you to suck gains either from positive swap or from beneficial price movement....
I agree, especially the part about the huge lots. I've made that mistake and I've paid for it, both literally and figuratively.
  • #32
  • Apr 18, 2018 9:42am Apr 18, 2018 9:42am
Quoting mlawson71
{quote} I agree, especially the part about the huge lots. I've made that mistake and I've paid for it, both literally and figuratively.
I think, it’s a very common mistake; no doubt I have also similar experience as like you.
  • #33
  • Apr 18, 2018 1:57pm Apr 18, 2018 1:57pm
The higher the time-frame the better and stronger the signal..Its will take 1minute to bullshit a signal generated using 1m chart also 5minutes to bullshit a signal generated in 5m chart the same way it will take 1day to bullshit a signal generated on 1D CHART...the bigger the better chance....
People like you are the reason we have middle fingers
  • #34
  • Apr 18, 2018 4:09pm Apr 18, 2018 4:09pm
Quoting TheCoderMT4
The higher the time-frame the better and stronger the signal..Its will take 1minute to bullshit a signal generated using 1m chart also 5minutes to bullshit a signal generated in 5m chart the same way it will take 1day to bullshit a signal generated on 1D CHART...the bigger the better chance....
or it is a lot easier to think of where you going to be 1 min from now, or 5 min from now, vs. thinking up with certainty where you will be 24 hours from now...

that M1 and M5 may come more accurate, but likely will get smaller chunks of profits.
however there is also power in numbers, and usually as a side effect likely a smoother equity curve.

of course, depend on the part-time idea, scalping 1 session may be not the part-time one like to input, ppl tend to think lazy, and dream of minimal time spend with maximum gains made. or just sip a cocktail on the beach while a magic EA ( downloaded for free of course!) making millions.
unfortunate, reality rarely match the dreams.
there is always, always another trade!!
  • #35
  • Apr 18, 2018 4:24pm Apr 18, 2018 4:24pm
Quoting TheCoderMT4
The higher the time-frame the better and stronger the signal..Its will take 1minute to bullshit a signal generated using 1m chart also 5minutes to bullshit a signal generated in 5m chart the same way it will take 1day to bullshit a signal generated on 1D CHART...the bigger the better chance....
No its not as complicated if you can not trade 1 hr. tf then its very difficult to do so... IMHO 20 pip is enough for the day...
Position size is the key ...
Trade fearless not careless...
Syed Mohsin Ali Profit This Month: -2,370
  • #36
  • Apr 19, 2018 9:36am Apr 19, 2018 9:36am
Quoting Majeeda
{quote} I think, it’s a very common mistake; no doubt I have also similar experience as like you.
I think most traders have similar experiences, especially at the beginning of their trading journey.
  • #37
  • Apr 25, 2018 6:51am Apr 25, 2018 6:51am
i have finished my basic level of Forex trading and willing to take this stock market as a part timer , there is anyone in this community who is a part timer and already successful from here. i need suggestion how can i start ? if there is anyone please suggest me something.
  • #38
  • Apr 25, 2018 10:13am Apr 25, 2018 10:13am
Quoting Catch-22
{quote} They don't need to be good at photoshop. You can post edit traders via MT4 manager, you can have 2 accounts and take buys on one and sells on the other. You can pretty much "prove" anything you want if you have access to broker level software.
I didn't even realize that was something that happened. Thank you for the heads up.
  • #39
  • Apr 26, 2018 4:49am Apr 26, 2018 4:49am
If any trader willing to get maximal profit from this stock exchange market first of all he or she has to ensure real trading knowledge and experience and I think as a part timer that’s very difficult. Because to be a skilled trader is a long term process which is much difficult for a part timer. so I don’t recommend anyone to choose Fx trading as a part timer. (Please don’t take it personally , it’s my opinion)
  • #40
  • Apr 26, 2018 6:52am Apr 26, 2018 6:52am
Quoting AdamCrist
If any trader willing to get maximal profit from this stock exchange market first of all he or she has to ensure real trading knowledge and experience and I think as a part timer that’s very difficult. Because to be a skilled trader is a long term process which is much difficult for a part timer. so I don’t recommend anyone to choose Fx trading as a part timer. (Please don’t take it personally , it’s my opinion)
So true, even I have noticed, a number of successful Forex traders are the full time trader; they spend long sessions here.
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