DislikedDeep thought of the day: I'm just wondering how many offers this guy has gotten from "pros" offering to take some of this guys money for "mentoring"?Ignored
- #41
- Dec 22, 2008 6:46pm Dec 22, 2008 6:46pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
- #42
- Edited Dec 23, 2008 9:10am Dec 22, 2008 7:11pm | Edited Dec 23, 2008 9:10am
- | Membership Revoked | Joined Dec 2005 | 2,298 Posts
Same Whore .... Different Dress
See, things are looking better already !
If I don't chime in on this one, I'll kick myself later.
Time has a shape. Plot it on a chart, you'll see it's not really linear at all, time that is.
You've measured 6 years while x has happened. "X" as in, x-wife, x-money, x-everything.
Still, we'll just call it "x".
During the progression of time, you continued to search for "Y".
"Y" as in, "why can't I make money ?", "why did I do that...again?", "why won't she shut up ?"
Your XY coordinates are not in sync.
If you don't choose...
Merry Christmas to you all
Another thought.......
I have lost count of posts similar to these..... Some some needy (weather real or conjured) individual jerking your chains....... I really can't summon any sympathy for this type of post or poster any more.
As far as my philanthropy....... I do my part as I see need.
As for Gazman......... I see no sincerity.
Happy holidays and Merry Christmas to all.
Happy Holidays
- #45
- Dec 23, 2008 9:27am Dec 23, 2008 9:27am
- | Membership Revoked | Joined Dec 2005 | 2,298 Posts
BYE BYE.....
Same Whore .... Different Dress
Scalping on the 5m?
I'd seriously suggest taking the advice of others who suggested using some higher time frames.
I'd also suggest getting your hands on the calendar of economic announcements -- and keep an eye on things like the auto bailout which aren't on a schedule -- and keep yourself out of the market while these things are in the works.
While you might get a feel for in the moment price action from the 5m there is a lot more going on in the market which longer time frames can help you see. In particular, looking at multiple time frames can be instructive. Trading intelligently with respect to trends, support, resistance and so on will give you a lot of instruction -- at the very least you'll learn a lot of things not to do.
For you, if your story is true, the quick buck is the last thing you should be looking for.
Anyway, I too suspect the sincerity of your post, but in the event that beginners are reading the thread, a little advice can't hurt.
Happy Holidays!
I'd seriously suggest taking the advice of others who suggested using some higher time frames.
I'd also suggest getting your hands on the calendar of economic announcements -- and keep an eye on things like the auto bailout which aren't on a schedule -- and keep yourself out of the market while these things are in the works.
While you might get a feel for in the moment price action from the 5m there is a lot more going on in the market which longer time frames can help you see. In particular, looking at multiple time frames can be instructive. Trading intelligently with respect to trends, support, resistance and so on will give you a lot of instruction -- at the very least you'll learn a lot of things not to do.
For you, if your story is true, the quick buck is the last thing you should be looking for.
Anyway, I too suspect the sincerity of your post, but in the event that beginners are reading the thread, a little advice can't hurt.
Happy Holidays!
nav++
- #48
- Last Post: Dec 25, 2008 4:38pm Dec 25, 2008 4:38pm
- | Joined Jan 2007 | Status: Trader | 628 Posts
I think my mind is made up. I will look for another job but with the economy going the way it is I'm not too sure about that either. In regards to the young man that asked what system I am using..I have reverted back to one that works better than all others. Involves a 5 min chart and looking at MSH/MSL and also looking at divergence on the RSI.
Take trade on divergence and take 10 pips. That's it! Works great! Until you trade it live and emotion and revenge and all the other real stuff gets in your way. You look back at your diary and there are...
Sorry to hear about your personal situation. Ever heard that old saying "Scared money never wins" ? It's true.
You just answered your own question -- solved your own problem here.
You have not overcome the emotions, fear, and greed yet. When you do, and quit looking at trading as a way to take the place of a job you will do better.
I have found very few daytrading or scalping systems that are consistently profitable. The ones that work require waiting for the correct setups to occur, take only those trades, and then win or lose you are done for the day.
This requires great patience and tremendous self-dicipline. More than I may ever have (but I'm still working on it.)
Take the advice of these traders here. Work with H4 or Daily TFs and look at trading over the long term. For now, get back on your feet with a real job. No matter how hard that is, it will be better than continuing to lose more at the bucketshops.
Good luck to you.