(binned per thread starter’s request) "Hobby Trading" vs "Trading

02/13: Super Bowl Sunday. Clarification of rules to post in this thread:

1. You must be a Hobby Trader (not casual about trading but very serious) or a trader who claims to trade for a living (professional trader).
2. If you claim to be a professional trader you must make a sincere effort to support your claim (no blathering).
3. All claims of profit must be supported with evidence. This includes individual trades. Show your chart/s at or very near trade entry and at the time of closing the trade.
4. Posting here must be about trading, not testimonials or endless fundamental psychobabble. You must post a brief explanation of your trading method, strategy or system.

Currently posting requires a high impact designation however if you have a lesser designation and are able to follow the rules of the thread and want to post here then do the following:
1. subscribe to me
2. message me and indicate you want to contribute and that you will follow the rules
3. I will then subscribe to you and you will then be able to post.

If you can't follow the rules I'll just unsubscribe from you and you'll need to message me again if you want to get back in. I'll then tell you why I unsubscribed from you and give you another opportunity to contribute according to the rules.

If you have a high impact designation and can't follow the rules then I'll just have to ignore you.


02/09/22: Original Thread Starting Post: This is a thread for Hobby Traders and traders who trade for a living are honest about such a claim. I fully expect the vast majority of traders to by Hobby traders. I also fully expect very few if any traders that really trade for a living and can show it. The rules for claims are below. Let me just say right now to those itching to say they are trading for a living but have all the usual excuses for why they can't back it up - DON'T BOTHER. You'll be ignored immediately. Please read the rules and follow them without exception. I want to keep my ignore list small. This thread is meant to be productive and to provide help to struggling traders. It's also meant for successful traders to essentially mentor others.


HOBBY TRADER - A trader who doesn't trade full time and doesn't need income from profits but takes trading very seriously. This trader may in fact be very profitable if not more so than some who claim to "trade for living".

1. Are you a "Hobby Trader" yet very serious about your trading?
2. Do you actually "trade for a living" and can provide supportive evidence?
3. Are you profitable and can show it?
4. Are you not profitable but yet want to participate in a friendly discussion with others who are profitable?
5. Are you sick of those claiming to "trade for a living" without supportive evidence?
6. Do you actually "trade for a living" and can give some kind of supportive evidence and answered YES to question 4?
7. Do you want to show what you got but are willing to help others who are trying and want to be inspired by successful traders with a humble attitude.
8. Are you proud of your method, strategy, system, etc. and just want to share whether profitable or not?

If you answer YES to any of the questions above then this thread is for you.

General rules of the thread:
1. Anyone can participate.
2. Profanity not tolerated. ZERO.
3. Ridiculing, bullying others not tolerated. ZERO.
4. Must post a brief discussion of your trading methodology/strategy with charts. This is so others can offer constructive criticism to those that are not profitable and seeking advice and so others can see what profitable traders are doing. If you're not willing to share then don't bother to post in this thread.

Rule for traders making claims of being profitable (this obviously includes those "trading for a living"
Claims of being profitable must be backed up with a profitable Trade Explorer (MyFxAccount is not permitted). If you can't prove your profitability with a TE then don't make the claim. Unsubstantiated claims will not be tolerated.

Rules for trade claims
1. Live and demo ok.
2. Claiming profitable trades after the fact without evidence not tolerated
3. Trade Explorer is a good way to support your claims.

For the time being I'll place a "medium impact" requirement for posters. This is because as you can see there is already one smart a_ _. However if you want access then please subscribe to me and let me know via message that you desire to contribute to the thread. Then I will subscribe to you making us buddies and then you will be able to contribute. Thanks.

I am a Hobby Trader.
I make no claims to profitability and will let my new, live, attached TE speak for itself.
I trade with the trend seen on the time frame I trade. In other words I don't use multi-time frame analysis.
I use HH, LH or LL, LH as a mainstay.
I enter trades on pullbacks in the trend using price action.

In the chart below price made a new high and is retracing. When PA appear I'll get long unless price goes below prior low. Profit target will be the last high in this case.

Haven't been to the EUR/USD thread in eons.

I too am but a hobby trader. I have a full-time job that I will soon be leaving (around Sep). At that time I will be free to see if I can "master" the trading monster.

I have two, longer term, prop evals going. Not much free time to trade them though.

These "traders" who claim to be full time making big bank yet only show a TE with micro lots are a joke.

My strategy is a hybrid thing. I use Ichimoku as a general trend + S/R. Can't really say if any of the things I have read about are valid as the original work has not been translated into any other language to my knowledge.

Supporting the Ichimoku is a Hull and the CCI along with volume (which is only valid with the broker you are trading through).

MM is based off ATR and a minimal percentage of my available account.

This "mess" is inspired by a youtuber - No Nonsense Forex.

Waiting for PA

Hobby Trading, a glass of cabernet...and the blues. Doesn't get any better than that. Oh yeah and a cigar. Padron or Oliva is good.



https://youtu.be/aKzqu24EOxo

Closed a bit early. Time to get some Zs

HOBBY TRADER - A trader who doesn't trade full time and doesn't need income from profits but takes trading very seriously. This trader may in fact be very profitable if not more so than some who claim to "trade for living".

Hi all! I am a full-time day trader and aim to make a living out of trading.

It was not an easy ride, I lost thousands in the process, lol. Trading on a laptop and switching from M15 to M5, back to M15 and then M1 proved to be a waste of time. I remember the time when I read Babypips and made me feel like I am on cloud nine, assuming that I finally have the skills, that I'll make millions, but it was clearly deceptive. Reading articles on the education page of your broker, Investopedia and Babypips is great but insufficient. It is a good start but it has to be complemented with reading books on trading and specifically currency trading.

To be successful as a day trader, one has to buy himself a 24-27 inch monitor, divide the screen into 4 and follow 4 TFs at the same time. I chose M15/H1/H4 and D1, because that's how I can keep track of what is happening on other timeframes without switching pages repeatedly. Multi-timeframe analysis is in my opinion essential to being truly successful because viewing all 4 TFs at the same time allows the trader to make decisions in line with technical factors adjunct to each TF separately.

Also, if anyone feels that they can grab many more opportunities from trading 3 or 4 instruments at the same time, then do not hesitate to invest in your home-tech, for example, buying a monitor for each pair you will be trading.

ps: don't trade M1 or M5, they are too misleading.

Hello RCtrader. I know your intentions of your post are noble however this thread was not meant for testimonials. Please go back and read the first page. I'll summarize for you and for others.

1. This thread has a main purpose which is to allow Hobby traders to show that they are no less competent than traders who claim to trade for a living.

2. Whether you are a Hobby Trader or a trader making claims to trade for a living you must provide evidence of your claims of profitability. Obviously if you trade for living then you must be profitable so you must show evidence of this claim. I hope this is clear.

3. Any claim of profitability must be backed up with evidence. A trade explorer is a good way to show this in the absence of anything else.

4. This thread is also for traders to share their methodologies, strategies, systems, etc. and as the first page states it is a requirement of posting in this thread to show some charts and provide a brief explanation of your methodology, strategy or system.

5. Lastly anyone can post here with a minimum requirement of providing a brief explanation of how they trade (method, strategy, etc, not equipment, screens or what have you) and charts to provide a visual.

6. If you are not profitable then fine. You are still welcome to post here. But if you make claims that you are then back it up . If you don't want to back it up then don't say you are profitable and don't say your are trading for living.

OK I hope things are more clear.

RCtrader you said that you are a "full-time day trader and aim to make a living out of trading". If you are a full time day trader then this means you are either making a living trading full time or you have enough reserves to be able to trade full time. In either case your testimonial by itself is not sufficient. It's a great testimonial and I would love to sit down and smoke a cigar and drink a beer with you and share testimonials but that is not the purpose of this thread.

I think I am among those who want to read the posts of successful traders who are profitable or just anyone who takes trading seriously. The post I made was an introductory post, it felt right to say a bit more than just 'Hi, I'm RCtrader'.

Very well. Now its time to follow the rules and post your method and some charts.

US released CPI last Thursday and caused lots of volatility in the markets. EURUSD tested January high but was meant with resistance from Bollinger Band upper band on the daily chart and 200SMA on weekly. The fundamentals were not there yet for the eurusd to start a steep bullish trend and the spike was faded. Or as traders say: "pump it and then dump it".
Target reached in 26 hours! (https://www.tradingview.com/chart/EURUSD/7hglR2d0-Bears-are-not-finished-on-EURUSD-H1-February-2022/)

My strategy is to profit from price movements on pairs like the eurusd, gbpusd or audusd. I am an intra-day trader and use indicators like Bollinger Bands and 200MAs. Usually, I can gain a few pips or go for as much as 100 based on market conditions. On average I open 10 trades a day.