To be successful... cut out the noise | Page 5 | Forex Factory

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To be successful... cut out the noise

  • #81
  • Dec 27, 2019 11:38am Dec 27, 2019 11:38am
Quoting oundar
I agree. I open live graphic and I don’t need any other instruments to see resistance levels, averages, market sentiment etc. It’s in front of you and you only need your eyes to see. I follow the news, enjoy the forums anyway as much as I have time from my daily job and life.
I agree with what you're saying. The forum here is to enjoy & learn of others. It's important to understand there is a limit to doing this. Don't let it take over your life. Enjoy it
J12
  • #82
  • Dec 27, 2019 11:40am Dec 27, 2019 11:40am
Quoting ChilledT
{quote} I think you've hit the nail on the head! Making a decision and then taking 100% responsibility for it, win or lose.
Yes I agree with you. You're responsible for what you do. You can't follow others then then blame them when something goes wrong. Same goes for indicators & eas, ultimately you're the one in the driving seat & making the decision.
J12
  • #83
  • Dec 27, 2019 11:44am Dec 27, 2019 11:44am
Quoting bs4
Hi j12, thanks for your wisdom. Do you recommend any books?
Hi friend, thank you for reading, I don't know if it's wisdom I'm passing on or just annoying to members. Just my experience over the years doing this.

I can't say I've read any books to be honest. As you can probably tell from some of my grammar reading & writing has never been my strong point.

I've written a post somewhere on a trading journal about my journey here, I don't know if that will help anyone, if so I can post it on here. But I don't want to bore anyone with repeat posts. But if interested I can post on this thread.

I do know everything you need is readily available on the Internet, for free, without spending a penny.

J
J12
  • #84
  • Dec 27, 2019 4:44pm Dec 27, 2019 4:44pm
Quoting j12
People follow people with no solid proof of what that actual person is saying. Why do people do this? I think it's because the follower is getting hope from the teacher? Worst thing is people actually try this with hard earned money... It's truly incredible.
BS. People want to be spoon fed. There is advise and direction and systems here that are successful. First ya want proof of the man's $$, then a day or two later ya add an indicator to his very successful system instead of putting some effort behind it. Most here need to be punching time clocks.

Take for example the Trading Made Simple system. It has the most replies for a few years now. Just read the 1st few pages. The deal works in it's simplest form. Traders love to cut themselves.
  • #85
  • Dec 28, 2019 12:49am Dec 28, 2019 12:49am
Quoting dforant1
{quote} BS. People want to be spoon fed. There is advise and direction and systems here that are successful. First ya want proof of the man's $$, then a day or two later ya add an indicator to his very successful system instead of putting some effort behind it. Most here need to be punching time clocks. Take for example the Trading Made Simple system. It has the most replies for a few years now. Just read the 1st few pages. The deal works in it's simplest form. Traders love to cut themselves.
Absolutely I agree with you, traders love to cut themselves. Any method that is to simple, is probably the method that works & it's when people start to add indicators etc that a simple method becomes over complicated.

And I did say earlier on no one ever needs to show $$ it's no one's business. I have clearly said if you're trying to teach someone something then it's good to demonstrate what you're teaching actually works. It's not asking for much.

It's so simple to add an explorer. Even spoon fed will not work for some people, depending on the type of person one is. This is my view.
Regards

J
J12
  • #86
  • Dec 28, 2019 3:45am Dec 28, 2019 3:45am
[quote=j12;12678641]{quote} Hi friend, thank you for reading, I don't know if it's wisdom I'm passing on or just annoying to members. Just my experience over the years doing this. I can't say I've read any books to be honest. As you can probably tell from some of my grammar reading & writing has never been my strong point. I've written a post somewhere on a trading journal about my journey here, I don't know if that will help anyone, if so I can post it on here. But I don't want to bore anyone with repeat posts. But if interested I can post on this thread. I do know everything you need is readily available on the Internet, for free, without spending a penny. J[/quote

I am trilled with your post. Again, not everyone will like it, but that shouldn't border you. As for whatever you think will be necessary for a read, please do not hesitate to post it here even if it is a repeat post.
  • #87
  • Dec 28, 2019 9:40am Dec 28, 2019 9:40am
Haha!

Is that a real set of traffic lights or a Christmas decoration?
  • #88
  • Dec 28, 2019 11:43am Dec 28, 2019 11:43am
I'm not saying to anyone they have to show their trade explorers. That's no one's business other then your own. It makes no difference to me what so ever.

What I was trying to say is that if anyone is preaching to someone else, then it's only fair if they can back up what they're saying.
J12
  • #89
  • Dec 28, 2019 4:38pm Dec 28, 2019 4:38pm
Quoting Destoma
Quoting j12
{quote} Hi friend, thank you for reading, I don't know if it's wisdom I'm passing on or just annoying to members. Just my experience over the years doing this. I can't say I've read any books to be honest. As you can probably tell from some of my grammar reading & writing has never been my strong point. I've written a post somewhere on a trading journal about my journey here, I don't know if that will help anyone, if so I can post it on here. But I don't want to bore anyone with repeat posts. But if interested I can post on this
...
Thank you, I'm just trying to be honest and say it how it is in my eyes. Some of the posts I read are so cringe worthy in the systems thread. Gurus posting & other people congratulating people on starting a thread. What's to congratulate? Anyone can start a thread no lol..

Then more gurus coming in to defend the posting guru, but non of the gurus have solid proof of what they are guruing about. Surprises me so much, and people latch into it like this is the golden ticket.

There is no golden ticket, you can follow 100 systems to a T, everyone's interpretation will be so different of the same system. The only golden ticket is time, you need to learn over time how this works. Not just follow people blind without any proof.

J
J12
  • #90
  • Dec 28, 2019 4:52pm Dec 28, 2019 4:52pm
If you don't mind asking what's your account size?
Also what's the ratio of your income? i.e. 50% forex 50% business income.

I was profitable consistently with live account($15k) for the past 18 months, gradually increasing my account size.
I do understand that with account size increase, the psychology changes as well.
Is there any advice that you want to share regarding this topic.
market is a device for transferring money from the impatient to the patient
  • #91
  • Dec 28, 2019 6:38pm Dec 28, 2019 6:38pm
Like mark douglas said if your next 20 trades doesn't produce profit, something is seriously wrong. Do you guys agree? I place only 1 or trades per week and I lost my opportunity to go long last week and it's been eating me alive. Dunno but it's more difficult to stomach it than a losing trade. Seems like I was down playing the holiday season and I kept thinking that irregular trading activities or volume that I was worried about. How you guys are handling the holiday season?
  • #92
  • Dec 29, 2019 12:59am Dec 29, 2019 12:59am
Quoting bs4
If you don't mind asking what's your account size? Also what's the ratio of your income? i.e. 50% forex 50% business income. I was profitable consistently with live account($15k) for the past 18 months, gradually increasing my account size. I do understand that with account size increase, the psychology changes as well. Is there any advice that you want to share regarding this topic.
Hi BS4 my account size is a personal question. But you are correct totally in saying with account size psychology changes. Trading a £100 account to trading a £10,000 account is totally different. £10k will mean a lot more to a person then £100 will.

As to what ratio of my income this is, I can gladly is 0% as I withdraw nothing. 100% if from my business. I don't class this as an income currently, I think of it as more of a savings account. If I put £500 in a ISA Account with my bank I'll get hardly anything in return. If I put £500 in my forex account I will probably get 30%+ return.

I'm not saying it'll always be like that, things can change. But I really enjoy doing my business. Do I really enjoy doing this? Not really, it's actually quite boring, boring because 90% of the time I'm actually doing nothing. If I did this as a day job I'll probably lose my mind.

J
J12
  • #93
  • Dec 29, 2019 1:11am Dec 29, 2019 1:11am
Quoting bs4
If you don't mind asking what's your account size? Also what's the ratio of your income? i.e. 50% forex 50% business income. I was profitable consistently with live account($15k) for the past 18 months, gradually increasing my account size. I do understand that with account size increase, the psychology changes as well. Is there any advice that you want to share regarding this topic.
Depending on the life style you want to live, you must be able to support that from forex. Think about it you need to support a family, then is this really a viable option. Is it seriously a steady form of income for you month in month out?

I've been in trades for well over 10 months which has stopped me from taking other opportunities, would your mind be prepared for that & would you be prepared to tell your partner & kids currently we have no income coming in.

It's not as simple just switching from a job & replacing it with FX. But it can happen, only with time. I understand people can do it though, so no need to think negative on what I'm saying, it's a personal opinion. I know all the people who I used to speak to 10 years ago have stopped fx, a few had actually left their jobs to do this full time.

Just take a realistic approach

J
J12
  • #94
  • Dec 29, 2019 1:16am Dec 29, 2019 1:16am
Quoting Togu
Like mark douglas said if your next 20 trades doesn't produce profit, something is seriously wrong. Do you guys agree? I place only 1 or trades per week and I lost my opportunity to go long last week and it's been eating me alive. Dunno but it's more difficult to stomach it than a losing trade. Seems like I was down playing the holiday season and I kept thinking that irregular trading activities or volume that I was worried about. How you guys are handling the holiday season?
Hi Togu, I've mentioned this earlier, you can't dwell on this. If you're sensible this market will keep on giving you opportunities. Time & time again. Look at my earlier posts in this thread, you'll see clearly some of the opportunities I've missed. During the holiday season the market is closed for a few days & it's probably moving less. If I can help it I would probably be out of trades. If not it's not a massive issue.

J
J12
  • #95
  • Dec 29, 2019 3:51am Dec 29, 2019 3:51am
Thanks J, for the updates..

Please share your way of looking at charts... or initiating a trade. What are the conditions you look for an entry... on your strategy to enter and exit. What are the factors you consider for initiating a trade. I could guess from your earlier posts that, you do not use a stoploss, which might be very different from how most people trade here. But certainly, there are many ways to skin a cat...
  • #96
  • Dec 29, 2019 8:01am Dec 29, 2019 8:01am
Quoting Togu
Like mark douglas said if your next 20 trades doesn't produce profit, something is seriously wrong. Do you guys agree? I place only 1 or trades per week and I lost my opportunity to go long last week and it's been eating me alive. Dunno but it's more difficult to stomach it than a losing trade. Seems like I was down playing the holiday season and I kept thinking that irregular trading activities or volume that I was worried about. How you guys are handling the holiday season?
I used to trade over the Christmas holidays but a few times it has spoilt my time with family so now I have a complete break from trading. I don't even allow myself to look at any charts! I won't be opening my trading terminal until next Sunday (5th Jan). It takes discipline but that's what works for me. I find the enforced break means I can think about other things for a couple of weeks and start 2020 fresh and with a clear head.

Each to his/her own, this is just what I do.
  • #97
  • Edited 7:24pm Dec 29, 2019 11:30am | Edited 7:24pm
Quoting ChilledT
{quote} I used to trade over the Christmas holidays but a few times it has spoilt my time with family so now I have a complete break from trading. I don't even allow myself to look at any charts! I won't be opening my trading terminal until next Sunday (5th Jan). It takes discipline but that's what works for me. I find the enforced break means I can think about other things for a couple of weeks and start 2020 fresh and with a clear head. Each to his/her own, this is just what I do.
The rest of us FX geeks are holding the fort down and monitoring every single aimless tick. so ya, go have fun. lol
To YYZ: I made money past week just having my platforms on, so not a loser but if saying everyone who trades fx during xmas is a loser helps you stay away, then you can say so.


ps, I don't agree with the op's opinion. There is a lot of potential in the noise trading. Some people see it, some don't. Just different styles. No need to make everything into black and white issues.
  • #98
  • Dec 29, 2019 12:28pm Dec 29, 2019 12:28pm
Quoting OutThere
{quote} if saying everyone who trades fx during xmas is a loser helps you stay away, then you can say so.
I'm sure there are a lot of traders who make money over the xmas period. I'm not saying that everyone who trades over xmas is a loser, it's just that any time I've tried, I've been a loser!
  • #99
  • Dec 29, 2019 12:42pm Dec 29, 2019 12:42pm
Quoting ChilledT
{quote} I'm sure there are a lot of traders who make money over the xmas period. I'm not saying that everyone who trades over xmas is a loser, it's just that any time I've tried, I've been a loser!
I don't think only losers trade over the Xmas period, probably doesn't make much difference tbh, to either win or lose you need movement in the market, during this period there will be less movement..
J12
  • #100
  • Dec 29, 2019 1:08pm Dec 29, 2019 1:08pm
Since Dec 20th:

AUD up 90 pips
NZD up 95 pips
JPY up and down around 50 pips a few times
Chf down 105 pips
CAD hi to lo 120 pips
GBP down 230 and up 120 pips
EUR moved some 120 pips

Of course a lot of up and down and zigzags in between, so who knows the cumulative pip count but they were real moves and money could have been made.

But if anyone doesn't want to trade during xmas, it is entirely up to them and no excuse needed.
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