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  • #500,181
  • Jul 26, 2011 2:58pm Jul 26, 2011 2:58pm
Quoting cloggie
I took a break from trading my own account and went back to the City for a few years working for quants and HFT's, that was an eyeopener for me and made me realise that there was no way I would get what I really wanted out of the market without going intraday.




I took me over a year to get my head around it, and that was on the back of 20 years in the business. Noobies don't have it easy in this market and the glossy adds, coupled with all the BS on these forums just make it look way too easy.
Where can I turn in my trading station? very little hope for me then.
  • #500,182
  • Jul 26, 2011 3:01pm Jul 26, 2011 3:01pm
Cloggie, may I ask, when you say fun in the next 90 minutes do you mean eurusd going to 4550?
  • #500,183
  • Jul 26, 2011 3:01pm Jul 26, 2011 3:01pm
Quoting piptornado
Where can I turn in my trading station? very little hope for me then.

I did have to unlearn a lot of bad habits accrued over time, but don't underestimate the time and dedication needed to make it in this business consistently.
  • #500,184
  • Jul 26, 2011 3:01pm Jul 26, 2011 3:01pm
very sensible mate, was going to suggest cashing them in at Thomas Cooks or something,,,youth of today - if its not nailled down...

Quoting Wulfgar
When i bought those we were still using continentals...lol

http://upload.wikimedia.org/wikipedi...Feb-76_obv.jpg
If in doubt, hide behind the sofa....
  • #500,185
  • Jul 26, 2011 3:02pm Jul 26, 2011 3:02pm
Quoting cloggie
made me realise that there was no way I would get what I really wanted out of the market without going intraday.
ya my friend. That is really where I am in my career now...


Quoting cloggie
It took me over a year to get my head around it, and that was on the back of 20 years in the business. Noobies don't have it easy in this market and the glossy adds, coupled with all the BS on these forums just make it look way too easy.
too true... I def understand the scope of difficulty in this biz... not many do... it may well be one of the hardest, most specialized fields on earth. Especially spot FX.
  • #500,186
  • Jul 26, 2011 3:02pm Jul 26, 2011 3:02pm
Quoting timeandprice
Cloggie, may I ask, when you say fun in the next 90 minutes do you mean eurusd going to 4550?

24 is way too big for that at this moment.
  • #500,187
  • Jul 26, 2011 3:03pm Jul 26, 2011 3:03pm
Quoting cloggie
I did have to unlearn a lot of bad habits accrued over time, but don't underestimate the time and dedication needed to make it in this business consistently.
Been doing this 4 years, but no financial background, just googling and reading as much as I can.
  • #500,188
  • Jul 26, 2011 3:03pm Jul 26, 2011 3:03pm
Quoting redbeben
did the same thing.holding positions,still holding half of my trades for long time like months and I expect 1.72 on GU and 1.51 on EU but as they bring little pips I preffer to scalp on M1 and M5 and this brings some 400 pips a day or last week 2300 pips.only by this I have more than on long term trades.

the only thing that brakes my trades is the trending market as I need chaos to trade proficiently
Redbeben, what time do you find best time to scalp on M1 and M5. Thanks in advance
  • #500,189
  • Jul 26, 2011 3:03pm Jul 26, 2011 3:03pm
Ok thanks for the quick reply much appreciated
  • #500,190
  • Jul 26, 2011 3:03pm Jul 26, 2011 3:03pm
Quoting littlebighil
very sensible mate, was going to suggest cashing them in at Thomas Cooks or something,,,youth of today - if its not nailled down...


man i need to find cloggies smiley website

Ive just been reading back a few pages... those are outstanding
  • #500,191
  • Jul 26, 2011 3:04pm Jul 26, 2011 3:04pm
off to eat a late breakfast ( 1pm breakfast)... I gotta move to Europe...lol
  • #500,192
  • Jul 26, 2011 3:06pm Jul 26, 2011 3:06pm
Quoting piptornado
Been doing this 4 years, but no financial background, just googling and reading as much as I can.

I keep mentioning the 10,000 hours minimum and get laughed at most of the time. Everything worth learning in life takes a serious amount of time and dedication, it will all be worth it in the end. Too many here think they can figure this out overnight, or from a 2 week course somewhere, that is just not going to happen. It takes 10-15 years to be a surgeon, 6-8 to be a barrister, 8-10 to be a fighter pilot, what makes the average noob think they can master this in a few months is beyond me.

There are only a very select few novices that make it in this business with minimum exposure, most are lucky and some are genius, I am neither and guess what nor are most of the readers here.
  • #500,193
  • Jul 26, 2011 3:07pm Jul 26, 2011 3:07pm
Quoting cloggie
I took a break from trading my own account and went back to the City for a few years working for quants and HFT's, got suckered into it by a few friends, that was an eyeopener for me and made me realise that there was no way I would get what I really wanted out of the market without going intraday.




It took me over a year to get my head around it, and that was on the back of 20 years in the business. Noobies don't have it easy in this market and the glossy adds, coupled with all the BS on these forums just make it look way too easy.
Can you suggest a good Quant book like you did for technical analysis with Murphy's Technical Analysis of the Financial Markets?
I have a background in computer science, so it would be very helpful
  • #500,194
  • Jul 26, 2011 3:07pm Jul 26, 2011 3:07pm
Quoting piptornado
Been doing this 4 years, but no financial background, just googling and reading as much as I can.
screen time brother, these is no way around it....for intraday guys even more so...
Look Sharp/Trade Tight
  • #500,195
  • Jul 26, 2011 3:09pm Jul 26, 2011 3:09pm
Quoting cloggie
I keep mentioning the 10,000 hours minimum and get laughed at most of the time. Everything worth learning in life takes a serious amount of time and dedication, it will all be worth it in the end. Too many here think they can figure this out overnight, or from a 2 week course somewhere, that is just not going to happen. It takes 10-15 years to be a surgeon, 6-8 to be a barrister, 8-10 to be a fighter pilot, what makes the average noob think they can master this in a few months is beyond me.

There are only a very select few novices that make it...
This year marks my third year, and have just now started to become profitable, part of which I contribute to trading just the daily charts. My style on the daily very much reminds me of a hit and run though... I try and catch every wave to the best of my ability. I will only give back a certain amount before I am convinced of a possible reversal and i'm closed out waiting for the next move.

Moving to the lower time frames, I expect to be wrong more but with less exposure as it were. I'm still not sure I would take a liking to anything under 15m.
  • #500,196
  • Jul 26, 2011 3:10pm Jul 26, 2011 3:10pm
Quoting tonegawa
Can you suggest a good Quant book like you did for technical analysis with Murphy's Technical Analysis of the Financial Markets?

Have you read Murphy's yet? There are no good quant books in regular circulation, you need to spend a few years at Oxford/Cambridge or Imperial to get even close. I have tried, and still am, to get my head around the quant side of trading, not easy.
  • #500,197
  • Jul 26, 2011 3:10pm Jul 26, 2011 3:10pm
Quoting cloggie
I keep mentioning the 10,000 hours minimum and get laughed at most of the time. Everything worth learning in life takes a serious amount of time and dedication, it will all be worth it in the end. Too many here think they can figure this out overnight, or from a 2 week course somewhere, that is just not going to happen. It takes 10-15 years to be a surgeon, 6-8 to be a barrister, 8-10 to be a fighter pilot, what makes the average noob think they can master this in a few months is beyond me.

There are only a very select few novices that make it...
Very true Cloggie. I suppose some people will only learn the hard way.
You've got to be IN IT to WIN IT!
  • #500,198
  • Jul 26, 2011 3:10pm Jul 26, 2011 3:10pm
Quoting cloggie
I keep mentioning the 10,000 hours minimum and get laughed at most of the time. Everything worth learning in life takes a serious amount of time and dedication, it will all be worth it in the end. Too many here think they can figure this out overnight, or from a 2 week course somewhere, that is just not going to happen. It takes 10-15 years to be a surgeon, 6-8 to be a barrister, 8-10 to be a fighter pilot, what makes the average noob think they can master this in a few months is beyond me.

There are only a very select few novices that make it...
I keep trying. I know I will be good at this one day. I am a hundred times better than I was a couple of years ago, I just have to keep learning. This has been the best business I have ever been involved in, and that is without being good, so I have the prize in mind and that keeps me focused on learning and bettering myself.

Thanks for all your contributions, I really appreciate them and have learned a lot from them, specially dissecting your trades and trying to figure out what you saw that made you take them.
  • #500,199
  • Jul 26, 2011 3:12pm Jul 26, 2011 3:12pm
Quoting cloggie
Have you read Murphy's yet? There are no good quant books in regular circulation, you need to spend a few years at Oxford/Cambridge or Imperial to get even close. I have tried, and still am, to get my head around the quant side of trading, not easy.
I still have to read it.
I have a B.S. and M.S. in computer science so I thought that a good quant book would be helpful.
  • #500,200
  • Jul 26, 2011 3:13pm Jul 26, 2011 3:13pm
been tradng the euro fomr some time and formerly an indices man. Find the euro behaves herself better and gives out cleaner candles, but find the SPX an amazing lead for obvious reasons (hope nt to be patronising)

Notice very few of the experienced traders (post volume) use the SPX as a lead of any sort and dont know why..is this a no no from a pursit point of view - just - when the SPX, dollar index and the indices are all suggesting the same direction, easy to know when its "game on". Not the best trader but have learnt how to stay out of trouble this way...anything I should know or is ignorance bliss ?
If in doubt, hide behind the sofa....
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