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Fitting life around trading. Anyone change style to scalping?

  • #21
  • Dec 14, 2022 1:02pm Dec 14, 2022 1:02pm
Quoting Dagaco
{quote} I understand what you mean, your desires to achieve success in trading are so great and your availability is so limited that you feel frustrated, you believe, you know or you feel that you could do well, but you have the great problem of time. I have felt something similar for a long time. But hey! Remember, no success in life makes up for failure at home. The best thing is that if you are so passionate about it, try to find temporary spaces that are compatible with your family situation, such as the daily chart, relax and enjoy your family,...
thank you. Yes, you understand exactly!

there are more important things than money, so I am trying to stay relaxed about it. I am fortunate.

it only takes one or two trades a day to make this work so I’m going to try to figure out a faster paced strategy.
  • #22
  • Dec 15, 2022 2:22am Dec 15, 2022 2:22am
Quoting PippityPips
{quote} yeah close. I already run a successful business but this is from home. It only takes me an hour or two a day of work. This is my guaranteed income. My business is safe but it doesn’t scale well ( it’s not lambo money, more mondeo money). I realised the potential scaling opportunity with trading. Thanks for everyone who had a positive contribution. I’ve decided to give scalping the open a go. also lmao at the guy who said I’m a bot created by ff for traffic remove the tin foil hat. You better make sure you don’t set a stop loss…...
Most people work 8 hours just for perspective.
  • #23
  • Dec 15, 2022 5:08am Dec 15, 2022 5:08am
Quoting PippityPips
Hello good people of fx. I need help. right now I have a young family and it’s making it almost impossible to execute my style / strategy. It’s taken me years of refining (mostly refining the way I think) to get to this point. i have really only just started making good profits and of course understanding more the market. the big problem is my style involves me pretty much being glued to the screen for a solid 2-4hrs (a session) and because of family commitments, this isn’t possible. I am therefore asking if anyone has had similar issues and how...
I have had similar issues.
I think you need to create time for your trading.
Can you trade at work?
Can you go away from your family and get some privacy?
Can you trade when the kids are at school/kindergarden and you have the day off?
Im not totally honest with all the people i know about when i "work" and when i actually trade.
They dont know how important it is for me.
With theyr very limited ideas about it they come up with advice like "You shouldnt trade now that is going down."
Or "Oh great keep it up."

You got to get creative.
And realise you have got talent and you might need to make some priorities and take some risks.
Otherwise there is a big chance you will get bitter about it when you get a bit older and look back on your chance and how you squandered it.
You know as well that there are no guarantees.
And sucessfull traders knows that as well.
But would you rather become a bitter "Would have, should have, could have" kind of person?
My signature is: "Classified".
  • #24
  • Dec 15, 2022 9:41am Dec 15, 2022 9:41am
Quoting FocusWinReal
{quote} Most people work 8 hours just for perspective.
yes, but i am not most people

i wont list my life achievements but suffice to say i am well aware i am NOT like most people....THANK GOD!
  • #25
  • Dec 15, 2022 9:49am Dec 15, 2022 9:49am
Quoting yaed
{quote} I have had similar issues. I think you need to create time for your trading. Can you trade at work? Can you go away from your family and get some privacy? Can you trade when the kids are at school/kindergarden and you have the day off? Im not totally honest with all the people i know about when i "work" and when i actually trade. They dont know how important it is for me. With theyr very limited ideas about it they come up with advice like "You shouldnt trade now that is going down." Or "Oh great keep it up." You got to get creative. And...
great reply, thank you.

you are right. i think the next year or two could be very interesting if i have the focused time. For sure once they are in school it will be easier.

it funny how so many people responded negatively to this thread. I can only imagine these people have no idea what having a family is like (unless your one of those cold motherfuckers, and just don't give a fuck).

i will have to think of something.
  • #26
  • Dec 15, 2022 2:04pm Dec 15, 2022 2:04pm
Quoting PippityPips
{quote} great reply, thank you. you are right. i think the next year or two could be very interesting if i have the focused time. For sure once they are in school it will be easier. it funny how so many people responded negatively to this thread. I can only imagine these people have no idea what having a family is like (unless your one of those cold motherfuckers, and just don't give a fuck). i will have to think of something.
Most people have the mindset of most people.
So they have the thoughts and behaviour of most people.
So the live the life of most people.

And i guess thats fine for them.

But then there are other people who are actually willing to do the hard work, take some risks and forge another path.

I have a son and he means the world to me.
But hes mother wants to be like most people.
Live the life of most people.
I never wanted that.
So im not with her any more.
I go with other people instead.

I hope for your sake your family knows how important what you do is to you.

Took me 30 years before i discovered something that i can make a living on thats sort of conducive to who i am.
My signature is: "Classified".
  • #27
  • Dec 15, 2022 2:09pm Dec 15, 2022 2:09pm
Quoting PippityPips
{quote} it funny how so many people responded negatively to this thread.
Like you pointed out, some peoples ability to actually understand what you mean isnt even there.
Its like it doesnt much matter what you write.
Its like they dont even read the whole thing and try to understand it.
Some people just respond emotionally, automatically, negatively to some little thing and they go off.
Many people never leave theyr own heads.
Everything just goes round and round in there.
Its actually quite a horrible, undescribable psychotic nightmare they are constantly in.
But thats just the way it is.
My signature is: "Classified".
  • #28
  • Dec 15, 2022 2:15pm Dec 15, 2022 2:15pm
Quoting yaed
{quote} Like you pointed out, some peoples ability to actually understand what you mean isnt even there. Its like it doesnt much matter what you write. Its like they dont even read the whole thing and try to understand it. Some people just respond emotionally, automatically, negatively to some little thing and they go off. Many people never leave theyr own heads. Everything just goes round and round in there. Its actually quite a horrible, undescribable psychotic nightmare they are constantly in. But thats just the way it is.
they say ignorance is bliss...what tripe.

we are blessed my friend! good evening!
  • #29
  • Dec 15, 2022 2:20pm Dec 15, 2022 2:20pm
Quoting PippityPips
{quote} they say ignorance is bliss...what tripe. we are blessed my friend! good evening!
Ignorance seem like bliss to the ignorant? Because they dont dare leave the confines of theyr own heads.
Good evening to you as well!
My signature is: "Classified".
  • #30
  • Dec 15, 2022 3:11pm Dec 15, 2022 3:11pm
Quoting PippityPips
Hello good people of fx. I need help. right now I have a young family and it’s making it almost impossible to execute my style / strategy. It’s taken me years of refining (mostly refining the way I think) to get to this point. i have really only just started making good profits and of course understanding more the market. the big problem is my style involves me pretty much being glued to the screen for a solid 2-4hrs (a session) and because of family commitments, this isn’t possible. I am therefore asking if anyone has had similar issues and how...
Scalping takes more time then swing trading... If you want to scalp you are looking intraday and this means you are glued to monitor even more since there are so many opportunities plus it's much harder to trade.
One strategy to ease the time on your chart is if you trade breakouts, they work during around market openings like London open or NY open. So you basically spend around 4h per day, but as said problem is you need to see the consolidation and determine point of support and resistance, you can then set alert few pips under/above SR and once it triggers you go and back to monitor and check. Problem is breakouts move fast so by the time u hear alarm it could already broke the structure and fly away without you. One solution is you cna use stop orders, but then if market is not moving you can get order triggered and then it hits your SL. For this you need momentum and volume to push trade and break the structure and make some decent pips.

If you plan to be full time trader then you need to talk to your wife and decide together, because trading is bussiness same as 8h in the office and you need to treat it as such. It's not a hobby... If you plan to use it as hobby then stick to daily chart, check it 1-2x a day and trade those setups. Prepare to hold trades for days if not weeks, but this is the only solution if you have no time...
  • #31
  • Dec 15, 2022 11:15pm Dec 15, 2022 11:15pm
Quoting PippityPips
{quote} yes, but i am not most people i wont list my life achievements but suffice to say i am well aware i am NOT like most people....THANK GOD!
That be awesome then champ.
  • #32
  • Dec 16, 2022 1:35pm Dec 16, 2022 1:35pm
Quoting PippityPips
Hello good people of fx. I need help. right now I have a young family and it’s making it almost impossible to execute my style / strategy. It’s taken me years of refining (mostly refining the way I think) to get to this point. i have really only just started making good profits and of course understanding more the market. the big problem is my style involves me pretty much being glued to the screen for a solid 2-4hrs (a session) and because of family commitments, this isn’t possible. I am therefore asking if anyone has had similar issues and how...
I typically do very short term trading.

Today was a day that I’d like every day to be like. I hit the market with three 10-20 minute trading sessions.

this week I also took 2 days off and made more than last week trading every day

trade when volume is high and price movement looks good…
  • #33
  • Dec 16, 2022 9:31pm Dec 16, 2022 9:31pm
Quoting benaiah
{quote} I typically do very short term trading. Today was a day that I’d like every day to be like. I hit the market with three 10-20 minute trading sessions. this week I also took 2 days off and made more than last week trading every day trade when volume is high and price movement looks good…
Key point there. Not every day is a trading day.
  • #34
  • Dec 16, 2022 10:34pm Dec 16, 2022 10:34pm
Quoting PippityPips
Hello good people of fx. I need help. right now I have a young family and it’s making it almost impossible to execute my style / strategy. It’s taken me years of refining (mostly refining the way I think) to get to this point. i have really only just started making good profits and of course understanding more the market. the big problem is my style involves me pretty much being glued to the screen for a solid 2-4hrs (a session) and because of family commitments, this isn’t possible. I am therefore asking if anyone has had similar issues and...
I experienced quite the same thing!
To put it short, either you go to extreme scalping or you go intraday/swing.

I used to trade supply and demand with liquidity concept, entering on 1m TF or even 15s TF.
But life got in the way.. I got moved to a new division in my company and the workload is very demanding.
I live in Japan, so Asian open is right when my day job starts as well (meetings, briefings), London open is when my workload is the most demanding (deep work, more meetings, etc.), and NY open is at night, I am mostly exhausted and cannot think anymore.

Technically I could develop some kind of scalping system to execute during NY time, but I am married and need to balance out my life as well.
Also due to brain exhaustion, I need a system that doesn't require me to think, and just execute.

So now, I converted my trading style quite drastically:
First, I took inspirations from trading systems here in forexfactory and other places, and developed my own system that does not need any thought/second thought at all.

Second, I go up from minutes time frame to 4H time frame. At first I was not used to intraday/swing trading due to the trade being exposed to risk in a long time, but now I don't even have time to check charts that often anyway, so that kinda helped developing my "either SL or TP" mindset; given the premise that your system is profitable.

Also, this style only requires me to check the chart once every 4 hours, and only take several minutes every session. Not a big deal at all.

So, my tips for you is to:

  1. Either go full scalping during session open until 1-2 hour later, or go full intraday/swing
  2. Make sure that your system fits all time frame. You don't know at what point in your life you will need to change lifestyle again.
  3. Remember that some things are to be sacrificed. You feel that you need to go extreme scalping? Set aside some time per week to refine your system, set maximum amount of trades per day (the fact that you are overtrading, probably means that you are still not sure about which setup to execute).

I will remind you again that me too, changed my style drastically. It took years for me to refine that SnD system, only to brought me down again to the earth, to re-shape everything again.
Like those RPG/adventure games where the character feels that he/she is strong enough, only to repeat the process all over again in order to win the final boss.

It's a long journey because life is at play as well, but I believe it will be worth it in the end!

Let's do this together.

  • #35
  • Dec 17, 2022 1:23am Dec 17, 2022 1:23am
Quoting trading007
{quote} This right here is one of the main reasons people turn to automation. Start spending 60mins a day learning to automate, it will save you your life. I learnt to code MQL5 using this guy on YouTube. https://www.youtube.com/watch?v=T78Q...Ren%C3%A9Balke Legit just search on Youtube "MQL5 ...... " whatever it is you need. Took me about 2 weeks to gather mostly what I needed to start doing a simple grid system. But if learning to code is just not for you there are other options...
You have to be joking, almost no one makes money trading Algo's. The ones that do work at it about 12 hours a day writing code, testing EA's on a bank of 5-12 computers and spend hours a night reviewing results.

He / She doesn't need Algo building in there family's life.
Trading thin liquidity at the boundary of the charts
  • #36
  • Dec 17, 2022 1:26am Dec 17, 2022 1:26am
Quoting PippityPips
Hello good people of fx. I need help. right now I have a young family and it’s making it almost impossible to execute my style / strategy. It’s taken me years of refining (mostly refining the way I think) to get to this point. i have really only just started making good profits and of course understanding more the market. the big problem is my style involves me pretty much being glued to the screen for a solid 2-4hrs (a session) and because of family commitments, this isn’t possible. I am therefore asking if anyone has had similar issues and how...
If you scalp the New York open, about 45 minute a day max is all you need. Forget trading London open as it's been bad for the last few years.

Scalp the US indy's using the stock market open as Bias

Good Luck
Trading thin liquidity at the boundary of the charts
  • #37
  • Dec 17, 2022 1:35am Dec 17, 2022 1:35am
Quoting RickM
{quote} You have to be joking, almost no one makes money trading Algo's. The ones that do work at it about 12 hours a day writing code, testing EA's on a bank of 5-12 computers and spend hours a night reviewing results. He / She doesn't need Algo building in there family's life.
Hi RickM.

You are wrong.

I suggest doing some more research on Algo trading.

You could even look at the new thread I have created here.
https://www.forexfactory.com/thread/1195459-us500-daily-candle-bb-based-entries-fully-automated


Automation is life
  • #38
  • Dec 17, 2022 2:45am Dec 17, 2022 2:45am
Quoting trading007
{quote} Hi RickM. You are wrong. I suggest doing some more research on Algo trading. You could even look at the new thread I have created here. https://www.forexfactory.com/thread/1195459-us500-daily-candle-bb-based-entries-fully-automated Automation is life
Mate, I worked with a team of 25 experienced traders developing over 140 Algo's over a 5 year period.
I have traded 3 Algo's written and traded by a Two- time Algo world forex champion.

A good Futures trader or Day position trader results can destroy all those Algo's I have ever tested.

My experience also comes from working with two professional Algo traders from an Australian Propriety firm that runs a bank of 60 EA's for their clients, I have knowledge on how they set them up and their techniques they use to be profitable. Its not what you think it is.

I know what Algo's can do
Just waste hundreds of hours of your life just getting to a live chart and produce less money a week then a one lot scalp of the S&P for ten minutes.

So I know what I am talking about.
This OP wants an easy life - Algo trading is the worst approach to achieve that goal.
Trading thin liquidity at the boundary of the charts
  • #39
  • Dec 17, 2022 5:36am Dec 17, 2022 5:36am
Quoting RickM
{quote} Mate, I worked with a team of 25 experienced traders developing over 140 Algo's over a 5 year period. I have traded 3 Algo's written and traded by a Two- time Algo world forex champion. A good Futures trader or Day position trader results can destroy all those Algo's I have ever tested. My experience also comes from working with two professional Algo traders from an Australian Propriety firm that runs a bank of 60 EA's for their clients, I have knowledge on how they set them up and their techniques they use to be profitable. Its not what...

Everyone has a different perspective of trading.

Your experience clearly did not work out how you would have liked.

Sorry to hear this.
May the force be with you.
  • #40
  • Dec 18, 2022 1:29pm Dec 18, 2022 1:29pm
Congratulations, PP, on starting your first thread. Best wishes to you and your family. I hope the most important things come to fruition in your life.
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