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  • #81
  • Oct 16, 2011 3:51pm Oct 16, 2011 3:51pm
Quoting Halifax
Hard to trade the fundamentals when they are already priced in.
You have provided the half of the solution to the problem yourself.

Fundamentals are always priced in.

This where we start to think about how to profit from this phenomenon, and the opportunities would be endless.

Answer is you dont trade fundamentals, Trade expectations of fundamental outcomes, trade the emotions of HOPE and FEAR that result in those expectations.

I cant think of a simpler and profitable way of trading than this.
.
  • #82
  • Oct 16, 2011 3:54pm Oct 16, 2011 3:54pm
Quoting Troikaone1
You flat out cannot beat the FX market on a regular basis unless you do it full time. The attention to detail is enormous. You have to tend to it with the greatest care for countless hours.
When I was laid off, I traded FX very successfully, because I was able to watch it day and night w/o any interruptions. Once I started working again, I got crushed because I flat out could not watch what was going on. The optimum times to trade were during working hours, and you simply cannot watch the market and work at the same time.
Once I started...
BullSh1t, as the other guy said, YOU are only speak for yourself, a victim of your own belief system
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It takes a lot for me to IGNORE you, but you can try.
  • #83
  • Oct 16, 2011 5:19pm Oct 16, 2011 5:19pm
Quoting nasir.khan
You have provided the half of the solution to the problem yourself.

Fundamentals are always priced in.

This where we start to think about how to profit from this phenomenon, and the opportunities would be endless.

Answer is you dont trade fundamentals, Trade expectations of fundamental outcomes, trade the emotions of HOPE and FEAR that result in those expectations.

I cant think of a simpler and profitable way of trading than this.
.
Don't confuse him. Fundamentals are not the same as news announcements. Announcements create, at best, 2-3 day rallies or sell-offs. Fundamental drivers create months-long and years-long trends.
  • #84
  • Oct 16, 2011 5:25pm Oct 16, 2011 5:25pm
Quoting Erebus
BullSh1t, as the other guy said, YOU are only speak for yourself, a victim of your own belief system
Can you say DEMO ACCOUNT?......I cannot be fooled!!!! lol.....u r funny! By the way...if by some strange fluke it is a real account, you will be quickly humbled in the coming days due to your arrogance.
  • #85
  • Oct 16, 2011 5:48pm Oct 16, 2011 5:48pm
Quoting nasir.khan
trade the emotions of HOPE and FEAR that result in those expectations.
.
nasir kahin is right (IMHO)

And why corrupt/coerce a young mind into believing that mediocrity is the only salvation.

"Be daring, be different, be impractical; be anything that will assert integrity of purpose and imaginative vision against the play-it-safers, the creatures of the commonplace, the slaves of the ordinary." - Cecil Beaton
Are you better than you're thinking. YES ! U R !
  • #86
  • Oct 16, 2011 9:22pm Oct 16, 2011 9:22pm
Quoting Finoli
As I am studying, I can only check my trades a couple times every hour. Most systems seem to be based on the M5 timeframe, which does not suit me right now. Do you know any systems that are based on H1 to D1 tf?
Would be great.

Finoli
you can run any system on the daily chart if you wan't,
the difference between timeframes are just time,
if a system can only be traded on one particular timeframe
then it's a BS system in my opinion.
if you want to trade on higher timeframes that is
probably a good idea, it's a lot easyer to trade higher timeframes to.

there is nobody in their right mind that is going to give away a highly profitable trading system for free,
simply because they are priceless,
most of them you find on internet are junk systems,
you can make a few bucks but they arent going to make you a millionare,
they are not even going to sell a system like that to you, it will never happend,
not here not anywhere, so what can you do?
first learn Technical analysis, get your own unique ideas,
test them out by trial and error, be creative.
learn how to trade by the rules I wrote before.
that is going to take a lot of time,
but no one said it was easy.
then build your own system.
Bulls are stupid Animals!especially when Im short!
  • #87
  • Oct 17, 2011 12:38am Oct 17, 2011 12:38am
Quoting Finoli
That makes a lot of sense, but another guy said that trading on the daily tf doesnt take that much screening.
Quoting Troikaone1
I respect that person's opinion and I'm glad they figured out a way to trade that works best for them.
So, I figure out a way to trade that works best for me, and I'm arrogant? Well, you are entitled to your opinion, for me, it is confidence in my method.

Quoting Troikaone1
Can you say DEMO ACCOUNT?......I cannot be fooled!!!! lol.....u r funny! By the way...if by some strange fluke it is a real account, you will be quickly humbled in the coming days due to your arrogance.
Everywhere on FF, people recommend to use demo account to learn to trade; I use it for testing, comparison purposes, demonstration, etc, so sure, you got me there, so here is my REAL ACCOUNT, feel better, I fully expect that you can post yours in return to prove any point you have to make - without getting so emotional.

Now, sharp eyes will notice that not every trade is the same but most are, due to brokers, whatever, should be good enough to convince you.

Humbled? Hardly, I am always humble in the market, yes, but when I enter a trade, I only expect that "something will happen"

Talk of mythical risk reward of 1:1 or 2:1 is only wishful thinking; take what the market gives.

The purpose of showing a winning trading method in action was, indeed, not to "fool you" but rather to show the OP it is possible, although you seem to taking it rather personally by your remarks, perhaps you do not trade successfully yet?

Would you like a lesson on risk management and POSITION SIZING?

Anyway, what was this thread about?
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  • #88
  • Oct 17, 2011 12:48am Oct 17, 2011 12:48am
Quoting Erebus
So, I figure out a way to trade that works best for me, and I'm arrogant? Well, you are entitled to your opinion, for me, it is confidence in my method.



Everywhere on FF, people recommend to use demo account to learn to trade; I use it for testing, comparison purposes, demonstration, etc, so sure, you got me there, so here is my REAL ACCOUNT, feel better, I fully expect that you can post yours in return to prove any point you have to make - without getting so emotional.

Now, sharp eyes will notice...
You idiot and liar....I still don't believe you......why didn't you post your real account first.....why did you lead these poor people to believe that you posted a real account? I DON"T BELIEVE YOU. And yes, you will be humbled in due time...in the coming days.
  • #89
  • Oct 17, 2011 12:55am Oct 17, 2011 12:55am
Quoting Troikaone1
You idiot and liar....I still don't believe you......why didn't you post your real account first.....why did you lead these poor people to believe that you posted a real account? I DON"T BELIEVE YOU. And yes, you will be humbled in due time...in the coming days.
Why so hostile? I must go and read all 450+ of your posts to see which are worthy of 5 vouches, certainly must be better information than this one?

Demo, real was not the point, where did I ever claim to be real? Only in your mind. Time will tell, meanwhile some light reading for you

Membership Rules

Rule #1: Respect Thy Fellow Trader

As a Forex Factory member, you are expected to treat others with respect and kindness. Mean-spiritedness, fighting, hostility, racism, offensive comments, and slander are all subject to removal. Healthy debate is welcome.
It takes a lot for me to IGNORE you, but you can try.
  • #90
  • Oct 17, 2011 12:57am Oct 17, 2011 12:57am
Quoting Troikaone1
Can you say DEMO ACCOUNT?......I cannot be fooled!!!! lol.....u r funny! By the way...if by some strange fluke it is a real account, you will be quickly humbled in the coming days due to your arrogance.
???? So let's all listen to the guy that can't trade unless he's in front of a screen as an example of what is possible/not possible?

Why would you assume Erebus's results are demo? Just because they're good and outside of your limited beliefs?

I trade real money and consistently bank winning trades in the hundreds of pips without spending countless hours in front of the screen. I do work a full time job and typically only spend 1 to 2 hours a day max in front of the screen and most of that is working on my research and not babysitting trades shitting myself over 50-60 pips.

The idea is to show this kid what is possible and not only is it possible to make a living trading larger frames, for a lot of us, it's the preferred way to trade. While I don't trade for a living yet, I'm on track to be there within the next year.

This kid has a lot to learn but he's on the path and at least asking the question in what I consider a pretty honest manner. I was first exposed to trading at about the same age. Had the internet and forums been around back in my day I would have been all over it. All I had was the daily commodity charts I stole from the library and updated by hand until I ran out of space after a few months. Then off to the library to steal some more.

On the contrary, I do believe age does make a difference. Life experiences, emotional and mental maturity, etc. are all part of what goes in to making us who we are and how we handle decision making and events. But what a great age to learn those lessons in trading compared to being older with a family and other responsibilities competing for time and money.
  • #91
  • Oct 17, 2011 1:03am Oct 17, 2011 1:03am
Quoting Troikaone1
You idiot and liar....I still don't believe you......why didn't you post your real account first.....why did you lead these poor people to believe that you posted a real account? I DON"T BELIEVE YOU. And yes, you will be humbled in due time...in the coming days.
I don't care if it is a real account or not. It regardless proves that those results are possible, and that is certainly something I need to hear. His trading results evened out the balance in this thread. I think more than 25% of the posts in this thread are about how hard this business is, and sure, I need to understand that. But I also need to see that it's not impossible, and that he showed me.
  • #92
  • Oct 17, 2011 1:09am Oct 17, 2011 1:09am
Quoting Rob Mondave
Don't confuse him. Fundamentals are not the same as news announcements. Announcements create, at best, 2-3 day rallies or sell-offs. Fundamental drivers create months-long and years-long trends.
I dont get your point.

I am advising to learn the behavior of traders for what they expect of Fundamental outcomes (news announcements) and how act before and react after the outcomes.

This kind of trading is (as you said) is different from the actual fundamental trading and the trends consist of 2hrs to couple of weeks as opposed to month-year long cycles of fundies.

Profits are decent and quick. If you have done your homework right than you should never loose cause you are taking advantage of other people's foolies, their greed and pain thresholds, opposed to every thing else that is being taught out there, where after doing every thing right you will still only can hope that probabilities are on your side.

P.S: How can you ever think clearly If you'r never confused.
.
  • #93
  • Oct 17, 2011 1:12am Oct 17, 2011 1:12am
Quoting Erebus
Why so hostile? I must go and read all 450+ of your posts to see which are worthy of 5 vouches, certainly must be better information than this one?

Demo, real was not the point, where did I ever claim to be real? Only in your mind. Time will tell, meanwhile some light reading for you

Membership Rules

Rule #1: Respect Thy Fellow Trader

As a Forex Factory member, you are expected to treat others with respect and kindness. Mean-spiritedness, fighting, hostility, racism, offensive comments, and slander are all subject to...

Calling what I have to say "Bullsh1t" is not respect. I respect those who respect me. Not only are you a liar, but you are also a hypocrite.
  • #94
  • Oct 17, 2011 1:23am Oct 17, 2011 1:23am
Anyone who is posting this early in the morning is obviously following the market pretty intensely.......Neway, I'm going to bed......good luck to all those people who only check the market once/day......yeah right!!!!
  • #95
  • Oct 17, 2011 1:39am Oct 17, 2011 1:39am
Quoting Troikaone1
Anyone who is posting this early in the morning is obviously following the market pretty intensely.......
It's afternoon here I never get to see the US session sadly
"Don't Panic..."
  • #96
  • Oct 17, 2011 3:01am Oct 17, 2011 3:01am
There is no need to spend all day watching the market. if not doing this results in taking a huge loss then your risk management in not good enough, or your trading without a stop loss.

I would go further and say that watching the market, especially if you are trading daily charts is counter productive, all the retraces and what not will only lead to the trader bailing out of fear, if they were not looking at it it would not cause them any emotion at all and they would not be making trading errors.

Set TP and SL and let the market play out. if you need to move to BE or what not, set up some price alerts to tell you when you need to check your positions.
  • #97
  • Oct 17, 2011 5:20am Oct 17, 2011 5:20am
Quoting highlander2
All the retraces and what not will only lead to the trader bailing out of fear
That is why I'm reading Trading In the Zone

But yes, I've found myself closing trades several times, just because price retraces. It's hard to avoid thinking the retracement will become the new trend
I've noticed that psycology is the biggest part in trading. I am, to be honest, very often right when I open a trade, but several times I either get stopped out too soon or I close it manually because I either dont want to be greedy or I am to scared of the market.
  • #98
  • Oct 17, 2011 5:33am Oct 17, 2011 5:33am
Quoting Finoli
That is why I'm reading Trading In the Zone

But yes, I've found myself closing trades several times, just because price retraces. It's hard to avoid thinking the retracement will become the new trend
I've noticed that psycology is the biggest part in trading. I am, to be honest, very often right when I open a trade, but several times I either get stopped out too soon or I close it manually because I either dont want to be greedy or I am to scared of the market.
At the end of the book Mark suggests you trade in batches, i.e., take 20 trades, THEN review the results.

This is more in line with how an edge works, its over a series of trades, rather than the individual trade.

Also check this interview with mark which i posted a while ago.

http://www.forexfactory.com/showthre...17#post4378017
  • #99
  • Oct 17, 2011 5:35am Oct 17, 2011 5:35am
Quoting highlander2
This is more in line with how an edge works, its over a series of trades, rather than the individual trade.
That makes a lot of sense, although it may be hard not to get frustrated along the way. I mean, if you have 10 consecutive losses you may not trade the rest so well.
  • #100
  • Oct 17, 2011 5:42am Oct 17, 2011 5:42am
Quoting Finoli
That makes a lot of sense, although it may be hard not to get frustrated along the way. I mean, if you have 10 consecutive losses you may not trade the rest so well.
You have to try and put that aside, and i would suggest you know how much you are willing to lose if all the trades fail.

I would also say just risk the same sum of money on each trade.

For example $10 on each trade, so the most you will lose is $200 approx.

However it is unlikely that you will lose them all, even a coin toss should produce some winners, never the less it is possible. if $200 is too much reduce your risk. (or demo trade)

Being able to keep playing your edge even after a string of losers is a big part of what separates the winners from the losers

Depending on your risk reward you may only need to win 30% to be at BE.

Once you do the 20 trades review all the results. Keep detailed notes, screen shots and records.

Watch those videos i just posted, Mark talks about this in detail.
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