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Trading Full Time...

  • #1
  • First Post: Jul 24, 2007 10:04am Jul 24, 2007 10:04am
Hello All:

I'm hoping I could get some feedback. My job that I work now allows me to work from home, so I have alot of time to sit by the computer and watch the Forex. With that being said for the pro's that are trading full time, what time frames are you using to trade and what type of indicators do you use that has been successful for you and your trading while trading on a full time basis. Also, do you trade only certain hours of the day or does it just depend on when the charts work out that way you want them to in order to get into a trade.

Any thoughts would be much appreciated.

Thanks..

Marc
  • #2
  • Jul 24, 2007 10:43am Jul 24, 2007 10:43am
Marc,

You'll get so many different opinions from traders all having success, that I'll have to recommend that you'll have to find what feels more comfortable by yourself.

Sorry for being so vague, however, I do think trading timeframes higher than 30 minutes is easier.

Good luck.
Pablo
  • #3
  • Jul 24, 2007 10:45am Jul 24, 2007 10:45am
Pablo is right.
Your question is so general that you can get 1000 different answers.
It all depends on the system you use.

There are traders here that use the 1M timeframe all the way up to the monthly.
Find what works best for you and is profitable and go with it.

Tom
  • #4
  • Jul 24, 2007 10:57am Jul 24, 2007 10:57am
Quoting marcf
Hello All:

I'm hoping I could get some feedback. ..

Thanks..

Marc
I don’t trade full time yet, even though I have access to markets from my PDA at anytime.
Trading off daily and weekly charts (longer term perspective) is more relaxing and turned out to be more profitable in my case. I ‘stepped’ into forex about 3.5 years ago and started with 10/15min charts; I used and studied almost every indicator you can think of in the beginning, but right now, I’m very happy with just PA and support/resistance levels. I use TLs and fib levels for visual reference sometimes, along with longer term emas. Add some fundies like cpi, int. rates direction to the mix and that’s basically all the tools for my trading. You have to find out yourself what suit your personality and style. Personally I would not go below 1hr.
  • #5
  • Jul 25, 2007 9:07pm Jul 25, 2007 9:07pm
Quoting raczekfx
I don’t trade full time yet, even though I have access to markets from my PDA at anytime.
Trading off daily and weekly charts (longer term perspective) is more relaxing and turned out to be more profitable in my case. I ‘stepped’ into forex about 3.5 years ago and started with 10/15min charts; I used and studied almost every indicator you can think of in the beginning, but right now, I’m very happy with just PA and support/resistance levels. I use TLs and fib levels for visual reference sometimes, along with longer term emas. Add some fundies like cpi, int. rates direction to the mix and that’s basically all the tools for my trading. You have to find out yourself what suit your personality and style. Personally I would not go below 1hr.
I agree 100% with this post. Except one small point, and I am sure the poster would agree with this:

It IS okay to go below the 1 hour chart, but mainly to make you entries a little better. If you can save yourself say.....8 pips, then why not.

But once you are in based on the hour chart, don't bother looking at the 15 or whatever.....it will only shake you out.
  • #6
  • Last Post: Jul 25, 2007 9:33pm Jul 25, 2007 9:33pm
Quoting marcf
Hello All:

I'm hoping I could get some feedback. My job that I work now allows me to work from home, so I have alot of time to sit by the computer and watch the Forex. With that being said for the pro's that are trading full time, what time frames are you using to trade and what type of indicators do you use that has been successful for you and your trading while trading on a full time basis. Also, do you trade only certain hours of the day or does it just depend on when the charts work out that way you want them to in order to get into a trade.

Any thoughts would be much appreciated.

Thanks..

Marc
My advice; take some time learn about fundamental and technical analysis. Do some paper trading, some demo trading, then open a small account to get started. Then think about trading for a living. You've got the cart before the horse. Trading is all about learning what works for YOU, not somebody else.
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