Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

How Hard Was Your Forex Beginning? Share to Encourage others 3 replies

Trading Options... What I've learned (the hard way) 45 replies

forex ain't hard 17 replies

New trading system hard to completely follow... anyone ever have this problem? 0 replies

Attachments: Trading Forex is Hard
Exit Attachments

Trading Forex is Hard

Just spent time on this intriguing thread, would like to ask what of the world Fx trading time widows are the best?, or at least the worst?
I am in the oceanic window. our SX opens at about 0830 AEST.
USFx opens about 11 PM, GBFx about 7PM.

Any suggestions I can try out?, I do not have a problem with overnight hours anyway.
I see that our AEST hours from 08 to 10 are very low ATR slope usually.

KenS
Quoting venividivici
I wanted to reiterate the important message by Jens on post #342 again, about the advantages and importance of watching the charts together, Although the chart windows are quite small for this explanation, I took a live example on how analysing and watching the charts together will get you further ahead in the game and give you better results than just looking at one chart. {image}{image}
Quoting JensG
Regarding screens/charts: Veni's way of archiving that market overview is interesting. Personally, I prefer windows stacked from top to bottom so I have all current action on the same vertical axis. Well, whatever you prefer, let's look at the main benefit of being able to watch it all together instead of zapping charts like the impertinence they call free-tv ;-) I see mainly two reasons: We're trading short-term with fast decision making but usually by taking the bigger picture into account. Switching charts is logically counterproductive in such...
This thread is the gold standard for scalping. Thank you so much. Eye opening to say the least. The most simple things are automatically ignored by traders (including me).

Many bad bets can be avoided just by knowing which currency is dominating it seems.
No tree, it is said, can grow to heaven unless its roots reach down to hell
UC
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 19 KB
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 89 KB
Thanks to everyone for participating and taking interest in something that isn't easy and isn't based on indicators

Thank you to Jens for always providing the most laser sharp technical answers to a T (The pioneer to the strategy), all the old school participators like MichaelSch, and also to the dedication of Jaymantos and phoenix777 and others who are getting very close to how its supposed to be.

I hope you all achieve what you're looking for in 2022, It gets a little busy for me during this time of the year so I want to wish you all a Merry Christmas and a Happy New Year.

Attached Image (click to enlarge)
Click to Enlarge Name: 1473092877400.png Size: 1.8 MB

Keep your dreams alive and never give up.
Quoting venividivici
Thanks to everyone for participating and taking interest in something that isn't easy and isn't based on indicators Thank you to Jens for always providing the most laser sharp technical answers to a T (The pioneer to the strategy), all the old school participators like MichaelSch, and also to the dedication of Jaymantos and phoenix777 and others who are getting very close to how its supposed to be. I hope you all achieve what you're looking for in 2022, It gets a little busy for me during this time of the year so I want to wish you all a...
Thanks Veni, Merry Christmas and Happy New Year in advance. Be well and see you in 2022!
No tree, it is said, can grow to heaven unless its roots reach down to hell
Many thanks. I wish you merry christmas, silent days and a good start in the new year. Keep care.

Greets Michael
Market is more simple as you think.
Quoting KenS
Just spent time on this intriguing thread, would like to ask what of the world Fx trading time widows are the best?, or at least the worst? I am in the oceanic window. our SX opens at about 0830 AEST. USFx opens about 11 PM, GBFx about 7PM. Any suggestions I can try out?, I do not have a problem with overnight hours anyway. I see that our AEST hours from 08 to 10 are very low ATR slope usually. KenS
Neither the worst nor the best timezone. You can consider yourself relatively lucky. Personally, I like the European morning the best on most days, on other days, nice action is moving further into NY open. As a rule of thumb: If the whole day was trend-heavy, the next day, especially the European morning though will usually provide ample range-based opportunities. If the morning is trend-heavy, I'd check back around NY open or even 2 hours before that. I live in Malta most time of the year, so I'm one hour later than the UK/Portugal or the same as Germany, France, Spain and so on and usually start my day around 8 am (used to be earlier, but that's what I'm doing for a while now).

I wish you all a Merry Christmas, too.

https://www.youtube.com/watch?v=j9jbdgZidu8
Quoting venividivici
Thanks to everyone for participating and taking interest in something that isn't easy and isn't based on indicators Thank you to Jens for always providing the most laser sharp technical answers to a T (The pioneer to the strategy), all the old school participators like MichaelSch, and also to the dedication of Jaymantos and phoenix777 and others who are getting very close to how its supposed to be. I hope you all achieve what you're looking for in 2022, It gets a little busy for me during this time of the year so I want to wish you all a...
Thank you for everything, Merry Christmas and Happy New Year
JensG it's a very pleasure to read your posts, i'd spend hours reading your insights and explanations of the markets/strategy.
Thanks very much to you and Veni for sharing all your knowledge

Sorry if it seems i don't participate much to the thread but i never been much of a poster in forums (in fact my total number of messages is quite low) but i keep checking the thread almost every day.

I wish a Merry Christmas and happy new Year to you all.

Cheers.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_1.jpg Size: 474 KB

It's always moving in little waves (or legs), no matter how small the last one was...the key is to adapt to the continuous changes.
Hi guys, after long time.... I'm back. Well, this is best way of trading. Risk 2 pips to get 10,20,40 etc... It's possible. I'm still working hardly but I need notebook to be ready to trade fully.

So, continue good work guys, I'll be right back when everything will be ready.

Also, please try to use tick charts guys. It will help you like nothing else. I'll post about that later.

Happy new year 2022!!

SF
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20220106-155117.png Size: 271 KB
Quoting SilentFather
Hi guys, after long time.... I'm back. Well, this is best way of trading. Risk 2 pips to get 10,20,40 etc... It's possible. I'm still working hardly but I need notebook to be ready to trade fully. So, continue good work guys, I'll be right back when everything will be ready. Also, please try to use tick charts guys. It will help you like nothing else. I'll post about that later. Happy new year 2022!! SF {image}
yeah please post what you know about tick charts, they're quite interesting!

regards.
Hey Veni; Jens,

I wanted to ask... are there situations where you'll look at a chart and really can't make sense of what's going on and find it's better to just not trade that pair right now? (Probably... why the hell am I asking that)

I'm asking that because there are days I'm doing well following channels and/or ranges while other days it seems all blurry and I end up not really knowing what's going on but have the thought in the back of my head that something is going on nonetheless and I end up taking bets I should'nt take. On those days I end up losing a lot and it pisses me off and I end up making even more dumb shit. Does it make sense what I'm asking? Have you been through that or is it just me who has no self-control? Deep inside I know I need to make this as emotionless as possible, in the sense that it just needs to become routine and boring (the exact opposite of why 99% of people start trading in the first place).

I often come back to post #268 of your thread and post #66 of mine to gauge myself with the trend and how it should look. I'm not sure whether those are simply examples or any chart can technically be traded even when it appears to just be one big mess; i.e.: I just need to find the underlying trend which is probably (but not necessarily) a bigger range/channel and approach it differently/adapt.

I think I know I should just focus on clear ranges/channels on the m1 and forget what I have trouble making sense of... So I'm kind of answering my question...

My "problem" really is of psychological nature. I know it's the core of the issue, damn it! It's like a self-fulfilling prophecy from hell.

Do you just walk away when nothing seems to be playing out; do you come back later? Do you keep staring at your charts for let's say 3 hours and stop trading or trade for 10 hours; do you put alerts, etc.? It actually just feel like I'm addicted and unable to see what's right in front of me and walk the fuck away...

When I said everything in trading seems diffuse (although it was probably not exactly the right choice of word (sorry Jens)) that's kind of what I meant: getting denied every step of the way be it by having the wrong big picture idea and/or failing to recognize the micro levels once the trade is engaged, etc. but not really being able to make sense of it and finally have something that works, but not knowing what place it really has in the probabilistic scheme of things (was it just luck this time? What was different? Should I "analyse" my winners or just my losers?).

When I check my trades in hindsight, it all make sense to me, I see the trends and so on. But live it is a totally different ball game, as you are 110% aware.

I don't know exactly where I'm going with this, it probably reflects the inner conflict that is going on inside of me at the moment and where I lay on the road to resolve it. But also to be honest about it. Sorry to litter the thread with a long scattered post lol.
No tree, it is said, can grow to heaven unless its roots reach down to hell
Quoting Jaymantos
Hey Veni; Jens, I wanted to ask... are there situations where you'll look at a chart and really can't make sense of what's going on and find it's better to just not trade that pair right now? (Probably... why the hell am I asking that) I'm asking that because there are days I'm doing well following channels and/or ranges while other days it seems all blurry and I end up not really knowing what's going on but have the thought in the back of my head that something is going on nonetheless and I end up taking bets I should'nt take. On those days I end...
Ofcourse not every day is a good trading day, sometimes its bad in the london session and good in the new york session and other times its the other way around. Not long ago Jens was telling me he had not seen a decent trading day in a few days, trade what looks good to you and dont force it...if you get in a trade and it starts to look choppy and rubbish just close the trade.
This is exactly why I always say that strategy is only a small part of success. A strategy only works as long as the market and the strategy are compatible with each
other, you could also say as long as they are in sync. You can recognise an experienced trader by (at least) two related qualifications:

 

  1. He recognises early on when this is no longer the case. Not necessarily before the first loss, but definitely, before the losses have reached a critical level.
    He does not start sabotaging himself.
  2. Especially days that offer little in terms of our strategy, perhaps even strategies if one is running two different ones, are days when self-discipline is most important. What you can nail to the back of your head, in any case, is the following realisation: good days come again. No dull period lasts forever. The currency market is extremely mean-reverting, you can rely on that even in these times, so you don't have to worry about the continuity of your source of income.

What remains is the question of how to survive the boredom in front of the screen? Years ago I asked a question about this here in the forum, but unfortunately, nothing came of it except pointless answers. So here's my answer: If there's nothing on, you can look at it again in a few hours, but during the work itself you can find help from very shallow entertainment. For me, that's sailing videos on YouTube. I rarely spend more than 3 hours in front of the screen. Only the months before the Brexit referendum were so extreme that I used the catering service of a neighbouring kitchen to not have to leave the computer.

Hi Jaymantos, I'm facing the same problems.When there is an understanding that something is wrong, a "reboot" is needed. It helps me: a break of 10-20 minutes. Just observing the price, without making decisions. Try to change the angle of view (usually simplify the picture) It is necessary to evoke a "positively calm" state of consciousness (it should be interesting to trade and monitor the price).
When I started studying forex, I laughed at the chapters about psychology in books, was wrong. I hope it helped a little, even though it's banal. English is not native, sorry if it is not clear.
"I used the catering service of a neighbouring kitchen to not have to leave the computer"



About light entertainment:

I used to watch a channel from a Canadian guy who built a log cabin in the woods. (In case you don't like clicking url on the net, channel name is My self reliance, the guy's name is Shawn James).

https://www.youtube.com/channel/UCIM...XXCeq2UJePJEog

I always feel guilty watching other stuff on the side when not much is going on; like I'm not being focussed 100% and probably missing stuff... I guess it was not a bad idea after all! lol
No tree, it is said, can grow to heaven unless its roots reach down to hell
Quoting Jaymantos
I always feel guilty watching other stuff on the side when not much is going on; like I'm not being focussed 100% and probably missing stuff... I guess it was not a bad idea after all! lol
No, it certainly wasn't a bad idea as long as you still notice what's happening on the screen. I think we're all way too obsessed with concentrated work but in trading, at least for the sort of trading we're doing here, what do we really need to concentrate on? I mean, what we do transitions quite quickly into, let's call it intuition, and none of us determines whether the markets will deliver many or few opportunities today and neither do we know in advance in how many hours this action gets squeezed into. I at least had never managed to hack Trump's Twitter account to send markets into turmoil right between lunchtime and a west end musical ;-) For that reason alone, I would consider anything that makes us more comfortable holding out for another hour to be helpful, regardless of whether it's going to cost a few percentage points of concentration or not. To be fair, this may not be the best solution for absolute beginners, but I guess for them, the markets alone could still be interesting enough.

Oh, and of course, podcasts work well, too. Preferably stuff that's easy to follow, for me that's economics, foreign policy and the like.
Quoting JensG
{quote} No, it certainly wasn't a bad idea as long as you still notice what's happening on the screen. I think we're all way too obsessed with concentrated work but in trading, at least for the sort of trading we're doing here, what do we really need to concentrate on? I mean, what we do transitions quite quickly into, let's call it intuition, and none of us determines whether the markets will deliver many or few opportunities today and neither do we know in advance in how many hours this action gets squeezed into. I at least had never managed to...
When you said sailing videos I thought you meant boat stuff lol. I realize just now it might be an expression to say you were watching them one after the other? Anyway...

There was a time I watched professionals at their craft with not too much talking in the videos. For example, a kind of contractor guy doing 1001 things like buying and repairing heavy machinery then using it, etc., a mechanic, a farmer growing very neat vegetables with bio-intensive methods, another farmer butchering and showing how to cut a cow from A to Z, a black-smithing guy who forged ancient weapons (lol)... Also the guy with his log cabin (I must say it evolved quite a bit since the beginning). Oh and forgot this cook guy who shown me how to cook a very neat chicken breast lol. I would be curious to know what podcasts on economics/foreign policy you listen to? I sometimes watch videos from a guy named Kraut and another Jake Tran, who have somewhat well explained takes on different foreign relation/economic situations.

I enjoy podcasts on neuroscience, performance, etc. I typically listen to one-on-ones with scientists, athletes, as I have posted a couple in my thread before...
No tree, it is said, can grow to heaven unless its roots reach down to hell
Quoting DaniKash
Hi Jaymantos, I'm facing the same problems.When there is an understanding that something is wrong, a "reboot" is needed. It helps me: a break of 10-20 minutes. Just observing the price, without making decisions. Try to change the angle of view (usually simplify the picture) It is necessary to evoke a "positively calm" state of consciousness (it should be interesting to trade and monitor the price). When I started studying forex, I laughed at the chapters about psychology in books, was wrong. I hope it helped a little, even though it's banal. English...
Hey DaniKash, I just saw your comment for some reason... Don't worry about your english it was clear and thanks for sharing your thought. I recently got back to reading Mark Douglas' Trading in the zone. I have experienced this state of mind where I know I can trade and I just trust myself and the process, doing very simple stuff in regards to analysis; I trust that the market will eventually straighten itself out. When I'm not careful, I let myself slip again, I make mistakes, and I forget why it was working in the first place so I fall back into the old patterns of trying to "understand" the market through better analysis (the 4 fears he talks about). I guess it's all a big process and we need to always remind ourselves of that and come back as soon as we catch ourselves falling prey to those, until we fully integrate it on a emotional level as necessary for success. This carefree state is really important in accepting whatever is going on and moving on, and seeing the probabilities for what they are.
No tree, it is said, can grow to heaven unless its roots reach down to hell
0 traders viewing now