And my skills as a fundamental analyst SUCK.
Mike
- #25,601
- Aug 29, 2008 9:22am Aug 29, 2008 9:22am
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
- #25,603
- Aug 29, 2008 9:29am Aug 29, 2008 9:29am
since last 3 yrs in this crazy world and I can tell you one thing for sure.
Best trading days: TUESDAY & WEDNESDAY
Worst trading days: MONDAY & FRIDAY
Have'nt posted awhile on this thread been busy with another
have'nt traded EU for a bit (except testing a EA on another thread)
but you're right bk i've learnt that too with only 2 years trading
- #25,604
- Aug 29, 2008 9:34am Aug 29, 2008 9:34am
I was viewing some of the earlier posts regarding the discussion on trading vs investing..back when I first started trading, my mentor explained it to me in a way that made sense. He would say that to really be a profitable trader you want to have 2 styles of trades going on at all times. Income producing trades in which the holding time would be anywhere from minutes to hours; and Wealth building trades which could be anywhere from several days to even several weeks ( depending on market conditions ). By having both styles of trading working for you at all times, you are able to capture the longer term trends, while at the same time quickly moving in and out of the market on either direction in order to produce daily income. These two styles of trading also allows you to see both the Macro and Micro view of the market at all times and thus not become personally biased to your own views of what you think the market might do, but will rather allow you to simply react to what the market IS doing. Hope this helps...it did for me when I first began....and yes...Fridays are always a bit messy, especially before a big weekend.
- #25,605
- Aug 29, 2008 9:41am Aug 29, 2008 9:41am
- Joined Mar 2008 | Status: Still testing and trading | 1,454 Posts
- #25,606
- Aug 29, 2008 9:43am Aug 29, 2008 9:43am
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
I was viewing some of the earlier posts regarding the discussion on trading vs investing..back when I first started trading, my mentor explained it to me in a way that made sense. He would say that to really be a profitable trader you want to have 2 styles of trades going on at all times. Income producing trades in which the holding time would be anywhere from minutes to hours; and Wealth building trades which could be anywhere from several days to even several weeks ( depending on market conditions ). By having both styles of trading working for you at all times, you are able to capture the longer term trends, while at the same time quickly moving in and out of the market on either direction in order to produce daily income. These two styles of trading also allows you to see both the Macro and Micro view of the market at all times and thus not become personally biased to your own views of what you think the market might do, but will rather allow you to simply react to what the market IS doing. Hope this helps...it did for me when I first began....and yes...Fridays are always a bit messy, especially before a big weekend.
- #25,608
- Aug 29, 2008 9:44am Aug 29, 2008 9:44am
- | Commercial User | Joined Aug 2008 | 7,691 Posts
up we go.whose riding this with me.my buddies lets take a free ride.hurrayyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy
the boat is in this with you
- #25,611
- Aug 29, 2008 9:50am Aug 29, 2008 9:50am
- | Commercial User | Joined Aug 2008 | 7,691 Posts
whats your tp.i dont want to be greedy so i dont watch another profit turn to a loss.
i will trail it...
- #25,612
- Aug 29, 2008 9:52am Aug 29, 2008 9:52am
- | Joined Feb 2008 | Status: Live long and have fun :) | 1,386 Posts
Fridays don't always range, often anough they provide a good trend. Hell, look at 08.08.08 Eventually you trade what's in front of you..
Eventually you trade what's in front of you..
On the path to Enrichment.
- #25,614
- Aug 29, 2008 9:55am Aug 29, 2008 9:55am
up we go.whose riding this with me.my buddies lets take a free ride.hurrayyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy
to expect
{Promotion Removed}
- #25,617
- Aug 29, 2008 9:58am Aug 29, 2008 9:58am
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts