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any full time traders here?

  • #1
  • First Post: Jul 17, 2009 8:49pm Jul 17, 2009 8:49pm
Hi, wonder if there is any full time traders here who are willing to share their journey to going pro? like how long they take, what are the challenges and any advice for the newbies like me? thank u very much
  • #2
  • Jul 17, 2009 9:00pm Jul 17, 2009 9:00pm
there would only be a few, I'd be interested in hearing also
Grabbing the bull by the horns!
  • #3
  • Jul 17, 2009 9:56pm Jul 17, 2009 9:56pm
Quoting whitegoodman
there would only be a few, I'd be interested in hearing also
Hi, why do u think there are only a few FTT (full time traders) here? I mean, isn't there people who are making gd pips with the system? or is it due to the lack of large enough funds to go pro?

anyway i happened to see ur blog. good goal! that's what I want to do also! ha. be a FTT by 25? wow how old are u now?
  • #4
  • Jul 18, 2009 12:29am Jul 18, 2009 12:29am
Quoting yuan83
Hi, why do u think there are only a few FTT (full time traders) here? I mean, isn't there people who are making gd pips with the system? or is it due to the lack of large enough funds to go pro?

anyway i happened to see ur blog. good goal! that's what I want to do also! ha. be a FTT by 25? wow how old are u now?
21, i think its very possible, im already playing with a relatively large pool of funds... lets see how he jounrey goes
Grabbing the bull by the horns!
  • #5
  • Jul 18, 2009 12:43am Jul 18, 2009 12:43am
Quoting whitegoodman
21, i think its very possible, im already playing with a relatively large pool of funds... lets see how he jounrey goes
wow tt's so so so young! when i'm ur age, i just finished compulsory military service. I supposed u worked for some time? 4 years, that's a big possibility
  • #6
  • Jul 18, 2009 2:42am Jul 18, 2009 2:42am
After 1.5 year of learning I think there many traders who consistently gain some profits, but mostly from teaching others how to trade
For me - I paid for two basic courses, which helped me at the beginning, but since that I'm not going to pay even one cent anymore. There tons of freely available materials in the internet about trading.

BTW, does anybody want to get a really brilliant, unique and very very simple strategy (which makes millions!) for only 25$? Please, contact me. Money back guarantee.
<<<=== Yes, this is how it works




Quoting yuan83
Hi, wonder if there is any full time traders here who are willing to share their journey to going pro? like how long they take, what are the challenges and any advice for the newbies like me? thank u very much
  • #7
  • Jul 18, 2009 3:09am Jul 18, 2009 3:09am
Quoting chief2000
After 1.5 year of learning I think there many traders who consistently gain some profits, but mostly from teaching others how to trade
For me - I paid for two basic courses, which helped me at the beginning, but since that I'm not going to pay even one cent anymore. There tons of freely available materials in the internet about trading.

BTW, does anybody want to get a really brilliant, unique and very very simple strategy (which makes millions!) for only 25$? Please, contact me. Money back guarantee.
<<<=== Yes, this is how it works...
haha true. well there are so many systems out there, but wad is more impt is the psychology, it is always the more difficult part, unless u have a profitable mechanical system that removes all psychology. unfortunately i m no programmer.


it definitely is easier to teach and more profitable than to trade urself ya
  • #8
  • Jul 18, 2009 7:21am Jul 18, 2009 7:21am
There some programs that allow to test simple strategies without any knowledge about programming. I remember a free movie of Markus Heitkoetter at fxstreet.com, where he showed a simple Example, using Genesis Navigator (this program is not free, I think, but maybe there other similar available for free?!). I mean to use it for testing ideas. If some idea will be so good, then it will not be difficult to find someone who will program it in MQL for MetaTrader, even for free.
But this way is not easier than solving personal psychological problems (in addition to a good strategy)



Quoting yuan83
haha true. well there are so many systems out there, but wad is more impt is the psychology, it is always the more difficult part, unless u have a profitable mechanical system that removes all psychology. unfortunately i m no programmer.


it definitely is easier to teach and more profitable than to trade urself ya
  • #9
  • Jul 18, 2009 10:00am Jul 18, 2009 10:00am
Quoting chief2000
There some programs that allow to test simple strategies without any knowledge...
hmm did i misunderstood but u say it's easier to solve psychological problem? I bet to differ! because with a mechanical system, u do not need to pull e trigger or the stop.

but even a mechanical system can be breached. if u decided to tamper it and TP or SL early or late. but then tt's psychological again!
  • #10
  • Jul 18, 2009 10:20am Jul 18, 2009 10:20am
Do you know any system that always works? In any market conditions? If "Yes", then mechanical will be fine and need simply follow the rules. But I don't know any of such strategies.
I spent several months on MQL programming, tried different approaches and achieved some really "not bad" results (testing) on 10 years history. Then I put it on Demo. During 2 months on live Demo my EA gained ~10% (I'm beginner, not expert), but when it started to constantly lose money I switched it off and returned to interactive way




Quoting yuan83
hmm did i misunderstood but u say it's easier to solve psychological problem? I bet to differ! because with a mechanical system, u do not need to pull e trigger or the stop.

but even a mechanical system can be breached. if u decided to tamper it and TP or SL early or late. but then tt's psychological again!
  • #11
  • Jul 18, 2009 10:43am Jul 18, 2009 10:43am
I have become a full time trader in a period of 6 months. I started with a small amount of money ($500) and have worked my way up to a sizeable amount. You just have to find trends and ride them. I started with a group that preaches finding trends, support and resistance, parallel and inverse anaylsis, and multiple timeframe analysis. It works and with a lot of practice, anyone can do it. It is hard but not as hard as everyone makes it out to be. It just takes a lot of practice to develop a sixth sense and to also follow the rules. If anyone wants the name of the group that I trade with, please let me know. It is inexpensive and they make you do the homework to understand everything. They also have an educational webinar every week where a lesson is taught and then an open Q and A. Now that I do this full time, I wouldn't trade it for the world. I used to work 8-5 every week as a sales manager and now I work several hours a day at my leisure with no boss and on my schedule. Everthing in life that is worth anything does not come easy, you must work at it but to me, the forex is well worth the wait.
  • #12
  • Jul 18, 2009 10:46am Jul 18, 2009 10:46am
Quoting brenzaj42
I have become a full time trader in a period of 6 months. I started with a small amount of money ($500) and have worked my way up to a sizeable amount. You just have to find trends and ride them. I started with a group that preaches finding trends, support and resistance, parallel and inverse anaylsis, and multiple timeframe analysis. It works and with a lot of practice, anyone can do it. It is hard but not as hard as everyone makes it out to be. It just takes a lot of practice to develop a sixth sense and to also follow the rules. If anyone wants...
"parallel and inverse anaylsis"

I haven't heard of this. Are you able to elaborate? In the meantime, it looks like I'll be surfing the net to quick study this.
  • #13
  • Jul 18, 2009 10:51am Jul 18, 2009 10:51am
That didn't take long. I found an article:
Spot Forex Trading Part 3: Parallel and Inverse Analysis


It is something that I already do. I didn't know it had a sophisticated name. That my "learn something new" for today.
  • #14
  • Jul 18, 2009 10:55am Jul 18, 2009 10:55am
Here is an example. Let's say GBP/USD has a established a good trend and I want to trade it. Parallel analysis would be to look at the EUR/USD, AUD/USD, and maybe NZD/USD to make sure those are trending in the same direction. Then, inverse analysis would be to look at maybe the USD/CHF and USD/CAD to make sure those are trending in the opposite direction. If they are, you have confirmation of a strong trend. I hope that helps. Feel free to ask anything else.
  • #15
  • Jul 18, 2009 11:14am Jul 18, 2009 11:14am
Quoting brenzaj42
Here is an example. Let's say GBP/USD has a established a good trend and I want to trade it. Parallel analysis would be to look at the EUR/USD, AUD/USD, and maybe NZD/USD to make sure those are trending in the same direction. Then, inverse analysis would be to look at maybe the USD/CHF and USD/CAD to make sure those are trending in the opposite direction. If they are, you have confirmation of a strong trend. I hope that helps. Feel free to ask anything else.
ooo that's really a new name for me. But ya it's about comparing the different pairs to find whether it's 1st pair stronger than the 2nd or the 2nd pair is weaker across the board.

What tf do you trade in? short or long term? what if the market is ranging?

and u say u started of with 500, but I suppose you increase ur funding instead of just using that 500 to go full time?

and mind to PM me that website if it's not convenient to share here. thanks
  • #16
  • Jul 18, 2009 11:16am Jul 18, 2009 11:16am
Quoting brenzaj42
I have become a full time trader in a period of 6 months. I started with a small amount of money ($500) and have worked my way up to a sizeable amount. You just have to find trends and ride them. I started with a group that preaches finding trends, support and resistance, parallel and inverse anaylsis, and multiple timeframe analysis. It works and with a lot of practice, anyone can do it. It is hard but not as hard as everyone makes it out to be. It just takes a lot of practice to develop a sixth sense and to also follow the rules. If anyone wants...

anyway u say it's worth the wait, but i suppose it's not any long wait for u huh
  • #17
  • Jul 18, 2009 11:32am Jul 18, 2009 11:32am
No worries, we are all full-time successful traders here at FF ! Buy low, sell high. Follow the trend. Dance with pride. Fibo's rule, use proper MM, don't over-leverage, hedge etc etc.
Measure twice, cut once
  • #18
  • Jul 18, 2009 12:10pm Jul 18, 2009 12:10pm
Yes, I have increased the amount that I trade with but still I do not need that much because I am always going to get into a trade right before it moves, right after it breaks resistance. I will usually set alarms(where the resistance points are) after my analysis in the afternoon and then go to bed at night. If the alarms hit at night, I get up and put in the trade and then go back to bed. I usually close out a trade when London goes home in the US sesssion. Thats a typical day.
  • #19
  • Jul 18, 2009 12:21pm Jul 18, 2009 12:21pm
This is what I'm doing, more or less
The biggest problem for me is how to define Take Profit.
- Could you, please, let us know what timeframes do you use for "long-term" trend analysis and timeframe for entries?
- What about Break Even?



Quoting brenzaj42
Yes, I have increased the amount that I trade with but still I do not need that much because I am always going to get into a trade right before it moves, right after it breaks resistance. I will usually set alarms(where the resistance points are) after my analysis in the afternoon and then go to bed at night. If the alarms hit at night, I get up and put in the trade and then go back to bed. I usually close out a trade when London goes home in the US sesssion. Thats a typical day.
  • #20
  • Jul 18, 2009 12:39pm Jul 18, 2009 12:39pm
As far as take profit goes, for me it is whatever the market gave me when London goes home. Let's say I have 4 lots open, I will close out 2 lots and let the other two run provided the trend still looks good. If not, I will close out all 4 and call it a day and then re-evaluate the market later that day. As far as long term trend, I make sure a weekly, daily, and 4 hour chart are all congruent and usually will find a resistance point off of a 4 hour chart or even daily. That is all I use for entries. It is a support and resistane market, usually when it breaks resistance, it will run.
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