Now that we dont really have any major trades to discuss i thought of writing this down after a question i received from a fellow trader.
Can I leave my job once i trade well.
Ok now to answer this. Forex trading is a simple yet complicated business. I personally know a lot successful traders and most of them have full time jobs.
If you ask me yes i have a job, of course as a consultant but still i have a salary coming in every month. I also know a couple of young beginners who leave their jobs thinking they have found the gold mine which will make them rich.
Honestly they are highly mistaken. Infact this business demands more from you. Its like you are either in the game or you are out.
If you ask my suggestion, devote a lot of time to getting your trading discipline in place and focus on your trades with utmost concentration. Get your heart and mind in sync with each other. I am telling you this is because just like many of you I have learnt it the hard way as well. And today i feel what i did couple of years back was absolutely wrong. Why did i waste so much money. Dont get urself into such a situation.
You dont have to leave your full time job, if you have learnt the trick of the trade , teach someone else in your family who can trade for you.
Dont try to get rich, try to get a secure future thats what matters. And yes this is one industry where there is no recession, you are rewarded everytime you think right.
Now that we dont really have any major trades to discuss i thought of writing this down after a question i received from a fellow trader.
Can I leave my job once i trade well.
Ok now to answer this. Forex trading is a simple yet complicated business. I personally know a lot successful traders and most of them have full time jobs.
If you ask me yes i have a job, of course as a consultant but still i have a salary coming in every month. I also know a couple of young beginners who leave their jobs thinking they have found the gold mine which...
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That is a great advice. Believe me I have been doing this for more than 25 years and I still have a fulltime job.I just spend few minutes in the evening looking at charts and put my trades. Belive me there are very few traders who have made it big in this business.
I just enjoy trading. It is like an Adrenaline rush especially when trade goes my way.
I added index dash board based on the new indi.. no longer need to switch profiles to see overall index.. if this helps I will upload the template..
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leekaq thanks for Dashboard, it helps to view all pairs in one go. What is the % arrow delay after new candle open. Lawgirl forum it was 30% time pass.
Is it possible to add MACD(Arrow) and Price above Moving Average14(Arrow) option in it. I mean some kind of arrows up/dn to show above two values.
leekaq thanks for Dashboard, it helps to view all pairs in one go. What is the % arrow delay after new candle open. Lawgirl forum it was 30% time pass.
Is it possible to add MACD(Arrow) and Price above Moving Average14(Arrow) option in it. I mean some kind of arrows up/dn to show above two values.
Just a couple of questions about this if someone can shed light on it
particualrly leekaq please
Ok what i understand 1,2,3,4,
It is 5a i am not clear on - entre when price is above filter line for a sell - is this correct is it not unlikley that in a sell the price will be above the filter for a sell when macd has crossed below the 0 line.
Also just to be sure the entries are off the 4hr chart when you made your 1,000 pips
hope someone can help
CICR Rules: 1. We will be tracking individual currency index and doing all our analysis on the index using RSI, MACD system. 2. TF used: a. D1 – check for candle pattern, MACD level b. H4 - use H4 to determine entry, MACD level 3. Look for currency indexes where all the RSI arrows are pointing down/up from H1 to MN timeframe. RSI3 should pointing down and coming down from above 70 or going up from below 30. Minimum setup is with all 3 RS1 for D1, W1 and MN. 4. Once we know an index’s trend and entry signal, open the related currency profile which consists of all related pairs. 5. Trade only the currency pairs : a. with RSI reading where all timeframes are in the same direction and ensure prices start trading above the filter line (sell) b. MACD start to cross up/down ZERO level. Note: If an individual index gives reading where the daily and weekly rsi is in the same direction but the monthly is not, go ahead and check the profile for that currency to see if any currency pair is showing a reading where daily weekly and monthly are in the same direction.
Just a couple of questions about this if someone can shed light on it
particualrly leekaq please
Ok what i understand 1,2,3,4,
It is 5a i am not clear on - entre when price is above filter line for a sell - is this correct is it not unlikley that in a sell the price will be above the filter for a sell when macd has crossed below the 0 line.
Also just to be sure the entries are off the 4hr chart when you made your 1,000 pips
hey bro,,please refer to capito revised post on post#1. Let's hear all yr questions/input based on a single source. I'm revising my notes based on his latest post as well.
Just a couple of questions about this if someone can shed light on it
particualrly leekaq please
Ok what i understand 1,2,3,4,
It is 5a i am not clear on - entre when price is above filter line for a sell - is this correct is it not unlikley that in a sell the price will be above the filter for a sell when macd has crossed below the 0 line.
Also just to be sure the entries are off the 4hr chart when you made your 1,000 pips
hey capito, i have many trades today using thies intraday method. 10/11 of my pairs are in green zone.. what will be yr recommended SL and TP for this method?
CICR system (Currency index cross referencing)
but has anybody find ways to scalp using this method?
