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  • #422,601
  • Apr 15, 2011 2:26pm Apr 15, 2011 2:26pm
Quoting w1nner
Hi, thanks for the advices. What is SR (point 2)? Do you really not use indicators? How can you filter out the trades then? Candlesticks?
read this full http://www.babypips.com/school/

SR = support and resistance

market always moving based on economical news releases and speeches related to interest rates etc..

use economical calendar http://www.forexfactory.com/calendar.php

use 4 hour chart, draw support and resistance line

i always draw average trend line

http://i.imgur.com/P2V5W.gif
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  • #422,602
  • Apr 15, 2011 2:30pm Apr 15, 2011 2:30pm
Quoting leandar
read this full http://www.babypips.com/school/

SR = support and resistance

market always moving based on economical news releases and speeches related to interest rates etc..

use economical calendar http://www.forexfactory.com/calendar.php

use 4 hour chart, draw support and resistance line

you will win.
You forgot the most important piece to becoming profitable. Time. Nothing can be substituted for it. Average time is 3 years, with a 2-5 standard deviation.

Usually if done in less than two years, you have had a trainer. Or you are fantastically brilliant.
  • #422,603
  • Apr 15, 2011 2:35pm Apr 15, 2011 2:35pm
Quoting pipnapper
What Indicators do you use? I also don't use any indicators.

I only use Pivots, Fibonacci, Trendlines and a few SMAs.
I sent a PM.
  • #422,604
  • Apr 15, 2011 2:47pm Apr 15, 2011 2:47pm
Quoting leandar
read this full http://www.babypips.com/school/

SR = support and resistance

market always moving based on economical news releases and speeches related to interest rates etc..

use economical calendar http://www.forexfactory.com/calendar.php

use 4 hour chart, draw support and resistance line

i always draw average trend line
I did not know that SR means Support and Resistance. Thanks for the help. I always use that calendar and I did not enter a trade before a news releasement. Or if I am already in a trade, I know what can happen. I know that site, I read most of that at the beginnings and it was very helpful. I have a lot of course (real ones not from swindlers) which helped a lot. These covers the very basic and advanced techniques, etc. These helped a lot but I do not use these systems, I am insist on my own method and my subjectivity and creativity. I want to do it on my own way.
  • #422,605
  • Apr 15, 2011 2:55pm Apr 15, 2011 2:55pm
Quoting Venice
You forgot the most important piece to becoming profitable. Time. Nothing can be substituted for it. Average time is 3 years, with a 2-5 standard deviation.

Usually if done in less than two years, you have had a trainer. Or you are fantastically brilliant.
3 years is perfect,

i started 1 year before still i am reading but now i have profit 40 to 80 pips a day no loss.

i open trades from strong S/R in 4h chart based on fundamental analysis.
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  • #422,606
  • Apr 15, 2011 3:00pm Apr 15, 2011 3:00pm
boring us equity close... now what... probably crickets...
  • #422,607
  • Apr 15, 2011 3:04pm Apr 15, 2011 3:04pm
Quoting fldash
boring us equity close... now what... probably crickets...
i am going to fap and sleep, have a nice weekend to you all

good night, cause its india.
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  • #422,608
  • Apr 15, 2011 3:07pm Apr 15, 2011 3:07pm
Quoting leandar
3 years is perfect,

i started 1 year before still i am reading but now i have profit 40 to 80 pips a day no loss.

i open trades from strong S/R in 4h chart based on fundamental analysis.
How do you do the fundamental analysis?
  • #422,609
  • Apr 15, 2011 3:10pm Apr 15, 2011 3:10pm
Quoting Venice
You forgot the most important piece to becoming profitable. Time. Nothing can be substituted for it. Average time is 3 years, with a 2-5 standard deviation.

Usually if done in less than two years, you have had a trainer. Or you are fantastically brilliant.
If you are trading for two years without turning a profit, you shouldn't be trading real cash. Why piss your money away if you don't know what you are doing. It's quite possible for someone to be smart, not brilliant, and to turn a profit in forex in days, weeks, or months. Everyone is different.
  • #422,610
  • Apr 15, 2011 3:21pm Apr 15, 2011 3:21pm
Quoting TheWalrus
If you are trading for two years without turning a profit, you shouldn't be trading real cash. Why piss your money away if you don't know what you are doing. It's quite possible for someone to be smart, not brilliant, and to turn a profit in forex in days, weeks, or months. Everyone is different.
Consistently profitable, is the key here.

From my experience, there is a level of psychology that needs to be addressed that can only be satisfied by trading actual cash.

As for pissing your money away if you don't know what you are doing, why do you think that only 2% of the people make it in this world? There is no quick success in this game. I've seen people get lucky, just to turn right around and give everything they made into a blown account.

There is just to much to learn in trading to get it down even within a year... Psychology, Money Management, Indicators (go through that phase, just to throw them out the window); Learning PA.

It's not something that happens over night, and if this is learned within a short time frame, it is because you had prior training in something else that laid the groundwork for success here. Say, for instance, professional gambling.

In reality, if you can learn from your mistakes and quickly, this is the fastest road.

I personally, had to blow a few accounts before I could get anything ingrained in my head. lol.

When starting out, I alloted myself 1,000$ a year to use in the markets. It's nice pushing money from my accounts back into my bank accounts these days.
  • #422,611
  • Apr 15, 2011 3:26pm Apr 15, 2011 3:26pm
Quoting Venice
Consistently profitable, is the key here.

From my experience, there is a level of psychology that needs to be addressed that can only be satisfied by trading actual cash.

As for pissing your money away if you don't know what you are doing, why do you think that only 2% of the people make it in this world? There is no quick success in this game. I've seen people get lucky, just to turn right around and give everything they made into a blown account.

There is just to much to learn in trading to get it down even within a year......
Fair enough, makes sense. I haven't blown an account but I started out losing. However I noticed I was accurate 80% of the time (as in, 80% of trades ended positive) yet I scalped profits too early while letting losses go too far. Leveraging 100:1 from the start wasn't a genius idea either. Doubling down on bad entries killed me the most. Overall, I knew what my weaknesses were pretty soon
  • #422,612
  • Apr 15, 2011 3:39pm Apr 15, 2011 3:39pm
hello, sorry to ask this, as it's only my 2nd post, and i am just learning to trade, so please forgive my questions for being a noob, but can i ask what indicators you use to get your trading levels/places?

i have been following this most of the day, and the last few weeks on and off - work commitments, kids, annoying wife

i noticed fldash has quoted a few times today, and from previous posts, i know you are fairly new to trading, so i guess this is more a question towards you?

any help you can give me would be most appreciated?

cheers, paul.
About as useful as a canoe with a handbrake going over a waterfall! DOH!
  • #422,613
  • Apr 15, 2011 3:49pm Apr 15, 2011 3:49pm
have a good weekend all... should be exciting monday
  • #422,614
  • Apr 15, 2011 3:50pm Apr 15, 2011 3:50pm
Quoting w1nner
How do you do the fundamental analysis?
For a proper fundamental analysis, you will require...

1. A set of hip waders
2. A spade Shovel
3. Bullshit to English Babbelfish
Attached Image
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #422,615
  • Apr 15, 2011 4:03pm Apr 15, 2011 4:03pm
I think everything is possible so I can be succesful from next Monday. I feel so something is changed. Good night and weekend to all.
  • #422,616
  • Apr 15, 2011 4:06pm Apr 15, 2011 4:06pm
Quoting TheWalrus
Fair enough, makes sense. I haven't blown an account but I started out losing. However I noticed I was accurate 80% of the time (as in, 80% of trades ended positive) yet I scalped profits too early while letting losses go too far. Leveraging 100:1 from the start wasn't a genius idea either. Doubling down on bad entries killed me the most. Overall, I knew what my weaknesses were pretty soon
Good stuff. It's all the better when you can catch yourself early.

I, personally, had no f'ing clue what I was doing... LOL
  • #422,617
  • Apr 15, 2011 4:09pm Apr 15, 2011 4:09pm
Ebb'in and flowin, baby!

Cheers, good weekend to all...

Now where did I put that Bourbon...
  • #422,618
  • Apr 15, 2011 4:21pm Apr 15, 2011 4:21pm
Quoting Venice
Ebb'in and flowin, baby!

Cheers, good weekend to all...

Now where did I put that Bourbon...

What you said about time it takes to be consistent is really true but I would also like to add that this time can be increased by reading articles and different ways of trading. Cause it might not fit your personality.

If you are to restless holding a larger position you have to look at a system in that direction. etc..

Enjoy your bourbon I just woke up with an headache after 4 beers, WTF is going on???
  • #422,619
  • Apr 15, 2011 4:34pm Apr 15, 2011 4:34pm
Quoting pipnapper
........ I also don't use any indicators.

I only use Pivots, Fibonacci, Trendlines and a few SMAs.
What do you think those are?

Anything that isn't price itself is an indicator.
  • #422,620
  • Apr 15, 2011 4:37pm Apr 15, 2011 4:37pm
Quoting dennis_ger
I am reading this thread for months now.
And ONE THING is obvious:

The posters here fall into several groups:
People who know what they are doing (e.g. cloggie, gator, t@rantula and a few more, sorry for not mentioning) and share their view. THANKS FOR THAT!

And then there is the group of members that step into this thread to piss the above mentioned off. After a few weeks they are gone again.

Sometimes it is entertaining and i really have to laugh. But i fear that those bastards cast out those i can learn from.

So.. F*ck off, bastards!
I'm just here to take the piss out of wooden shoe,so phuck you.
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