I don't watch prices when I trade | Forex Factory

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I don't watch prices when I trade

  • #1
  • First Post: Jan 15, 2009 2:23pm Jan 15, 2009 2:23pm
I only watch my signals. Whenever I watch the prices I tend to get out early or too late. Prices make me nervous. Signals and are much more calming.

Am I the only one who does this?
  • #2
  • Jan 15, 2009 2:51pm Jan 15, 2009 2:51pm
No. Once I'm in a position I usually hold it for 3-4 days.
I check my position 3 times a day for 10 minutes to evaluate how much
I will move my stop to lock in profit and still have potential to get even more.
Then I walk away. Good to black out emotions. Watching every tick makes you go mental.
It's the smart way to trade.
  • #3
  • Jan 15, 2009 4:06pm Jan 15, 2009 4:06pm
Depends on how focused you are when watching every tick =D

I trade watching every tick for a few hours at a time, particularly market opens, news, and other major events. My EAs can handle the downtime relatively well while I am off playing games.

To give you an idea of my trading, consider this:

  1. Joystick in my left hand
  2. Mouse in my right hand
  3. Lit switchboard above my head.
  4. 4 19" screens.

    1. Bloomberg
    2. EA Diagnostics performance and trading platform statistics (open trades, risk percent, current stoploss, etc)
    3. Chart #1
    4. Chart #2 / Forexfactory/idle browsing

  5. Headphones
  6. Microphone
  7. Phone with broker on speed dial

When I'm trading, I can hear my trading platform giving me warnings, I can hear the bloomberg commentary, and I can hear each tick up/tick down (each plays a different sound).

It's almost complete immersion, and I love it.

  • #4
  • Jan 15, 2009 4:11pm Jan 15, 2009 4:11pm
Quoting Tjpld
No. Once I'm in a position I usually hold it for 3-4 days.
I check my position 3 times a day for 10 minutes to evaluate how much
I will move my stop to lock in profit and still have potential to get even more.
Then I walk away. Good to black out emotions. Watching every tick makes you go mental.
It's the smart way to trade.
Exactly. The quickest way for me to sabotage a good setup is to watch the charts after I'm in.

Even intraday I have to walk away once I'm in. But I use a lot of cycle and timing methods, so it's just a matter of waiting for time to pass before I come back to the charts.
  • #5
  • Jan 15, 2009 4:37pm Jan 15, 2009 4:37pm
Haha that is sick mate. Nice work. Do you realise you will probably never have to go to work for someone else?!!



Quoting Ronald Raygun
Depends on how focused you are when watching every tick =D

I trade watching every tick for a few hours at a time, particularly market opens, news, and other major events. My EAs can handle the downtime relatively well while I am off playing games.

To give you an idea of my trading, consider this:[list][*]Joystick in my left hand[*]Mouse in my right hand[*]Lit switchboard above my head.[*]4 19" screens.[list][*]Bloomberg[*]EA Diagnostics performance and trading platform statistics (open trades, risk percent, current stoploss, etc)[*]Chart...
"If it bleeds ... we can kill it"
  • #6
  • Jan 15, 2009 4:40pm Jan 15, 2009 4:40pm
Quoting Ari Gold
Haha that is sick mate. Nice work. Do you realise you will probably never have to go to work for someone else?!!
I technically still have a boss. After all, I work for my money. I would rather my money working for me.
  • #7
  • Jan 15, 2009 8:12pm Jan 15, 2009 8:12pm
Quoting Ronald Raygun
I technically still have a boss. After all, I work for my money. I would rather my money working for me.

Thats the end goal isnt it mate. 10mio bucks earning me interest. Ohh yeahh.

The funny thing is... even when i do get to that stage, i will still be trading for fun...
"If it bleeds ... we can kill it"
  • #8
  • Jan 17, 2009 9:12am Jan 17, 2009 9:12am
Quoting Ronald Raygun
Depends on how focused you are when watching every tick =D

I trade watching every tick for a few hours at a time, particularly market opens, news, and other major events. My EAs can handle the downtime relatively well while I am off playing games.

To give you an idea of my trading, consider this:[list][*]Joystick in my left hand[*]Mouse in my right hand[*]Lit switchboard above my head.[*]4 19" screens.[list][*]Bloomberg[*]EA Diagnostics performance and trading platform statistics (open trades, risk percent, current stoploss, etc)[*]Chart...
This is what you need next ..

http://www.novelquest.com/emperor_specs.html
  • #9
  • Jan 17, 2009 9:31am Jan 17, 2009 9:31am
This is awesome. related Youtube vid says this costs 40K ... I don't see a drink holder though.
Quoting Wave Surfer
This is what you need next ..

http://www.novelquest.com/emperor_specs.html
In trading, there is no bullshit. You either make money or you don't.
  • #10
  • Last Post: Jan 18, 2009 4:40am Jan 18, 2009 4:40am
I just love watching the pips .. doesn't matter if I am in the market, have it go against me or not. I just love it. Anyhow, I only trade dailies and 4h charts, so I am not there all the time - when I am though I got my second "trading monitor" to permanently be able to see what prices are doing.
The Essentials of Trading: Emotions, Risk Mgt, Price.
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