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Is trading that simple?

  • #21
  • May 28, 2012 8:30am May 28, 2012 8:30am
Quoting leopard31
Is trading that simple? It seems in the first sight, but actually it's the hard work. sometimes to catch the trend very difficult and it takes a lot of time and powers
proper trading is simple and effortless. However finding a good system takes time and is sometimes difficult.

Your statement suggests that you don't have a system yet, so I would start searching for one.
  • #22
  • May 29, 2012 11:38pm May 29, 2012 11:38pm
Quoting Custos
proper trading is simple and effortless. However finding a good system takes time and is sometimes difficult.

Your statement suggests that you don't have a system yet, so I would start searching for one.
Yes, u are right. I'm in process of searching a good trading system for me
  • #23
  • May 29, 2012 11:39pm May 29, 2012 11:39pm
Custos, can u advise me smth?
  • #24
  • May 30, 2012 12:19am May 30, 2012 12:19am
Hi all,

My initiation into trading began demoing about a year ago. I quickly went live and was marginally successful (not losing any money and doubling my capital catching a silver bull rally). Luckily, I decided to go travelling, emigrate (like most of the people my age from my debt burdened country) and empty my trading account. I uploaded an uncanny amount of eBooks onto my reader - most notably a pdf of the J16 thread (which became and obsession on the un-countless 24hr+ bus rides around SE-Asia) and jumped out of the newbie trap of throwing capital into my account instead of demoing until I am comfortable with my strategy and consistent in reaching my target return per week/month.

I really think this inability to go near a trading account and reading J16 thread saved me from forgetting the rules for a newbie/rookie (to name a few - Researching strategies and understanding trading concepts. Getting to grips with technical analysis. Risk/money management and above all goal setting and planning (c'mon - your not going to become rich overnight!)).

Now after getting my head wrapped around the aforementioned and all, I am in a position where I have found a strategy that works well for me and have been demoing for the last 4 months. Fortunately, I came across a thread on the forex factory that was based on a similar strategy (the Gartley continuation) and I am now following this thread (if anyone is interested the thread was started by pt49 and is based on his trading journey of 2000 to 2,000,000).

Anyway, for all you newbs out there that are feeling overwhelmed: Start with the basics and get the concepts of TA down. Read the J16 thread (essential) and take a look at pt49's new thread (it's a winner of a thread and very informative) and above all - demo, demo, demo until you can reach your targets and goals consistently otherwise you will essentially piss your money down the drain. And remember above all - trading is about discipline, so be disciplined and spend the time to learn how to trade first. Discipline is key!

Cheers for listening to the rant,

Erol.
  • #25
  • May 30, 2012 12:48am May 30, 2012 12:48am
Trading is as simple as the method you use, when a price reaches a certain area on my chart, the question is simply "up or down from here?", and I wait for price action to confirm either a stall in price and the start of a reversal or continuation.
  • #26
  • May 30, 2012 12:57am May 30, 2012 12:57am
Quoting GDR3k
Trading is as simple as the method you use, when a price reaches a certain area on my chart, the question is simply "up or down from here?", and I wait for price action to confirm either a stall in price and the start of a reversal or continuation.
Hi GDR3K,

do you use fib lines to help you with your enty criteria?
  • #27
  • May 30, 2012 1:25am May 30, 2012 1:25am
Quoting Erol
Hi GDR3K,

do you use fib lines to help you with your enty criteria?
Very rarely to be honest, I've used them a few times after a large move just to confirm an area which I already believed would be solid S/R.
  • #28
  • Edited 3:55am May 31, 2012 3:29am | Edited 3:55am
Quoting Erol
Hi GDR3K,

do you use fib lines to help you with your enty criteria?
I've just entered a trade short on AUDUSD using fibs to confirm an area where I believed the price would change direction, using the 4hr chart and smaller timeframes, the 38% level lines up with todays daily pivot and a half number, the price stalled at this level. TP is just above the next whole number @ 0.9702. SL is now at break even,

Closed @ 0.9733, +20 pips

See below.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: fib1.jpg Size: 86 KB
Click to Enlarge Name: fib2.jpg Size: 133 KB
  • #29
  • Jun 7, 2012 7:00am Jun 7, 2012 7:00am
Quoting reynuevo
I found actual screen shots of EURUSD Trades. It is unbelievable! It made me wonder is Trading really that simple?

Do we really take into consideration this job, housing, import export data and all other million stuff then combine them with chart analyzing? May be this is all introduced as a charade to mask the simplicity of trading!
I think it is simple, but not for most people at first including myself. In the beginning, the tendency is to overcomplicate things and with psychological and money management issues on top that's what makes it hard, imo.
  • #30
  • Jun 7, 2012 7:55am Jun 7, 2012 7:55am
We don't want to feel pain. That itself is the main reason most traders fail.
Every neutral signal they are receiving from the market will be transformed into a possitive signal that will fit someones bias and expectations.

Expectations lead to a subjective bias and way of trading.
Trading on a neutral bias / staying objective the whole time is one, if not the most tough thing to achieve in trading.
  • #31
  • Jun 7, 2012 8:36am Jun 7, 2012 8:36am
Quoting Robertk

staying objective the whole time is one, if not the most tough thing to achieve in trading.
Excellent point, and an extremely tough adjustment to make as we're attempting to rewire some of our most basic conscious and subconscious instincts. Discipline alone doesn't compensate as some issues can't be forced, I believe it really is a state of mind we need to flip into and out of for trading and for living.
  • #32
  • Jun 7, 2012 8:50am Jun 7, 2012 8:50am
Quoting Robertk

Expectations lead to a subjective bias and way of trading.
Trading on a neutral bias / staying objective the whole time is one, if not the most tough thing to achieve in trading.
I believe the way to achieve this is through mindfulness. It's a Buddhist concept and I think Eckhart Tolle has done a great job showing how it can be achieved.
  • #33
  • Jun 7, 2012 10:05am Jun 7, 2012 10:05am
Trading is simple if you are a robot , if you are human than it's hard because of the emotions .
  • #34
  • Jun 7, 2012 10:39am Jun 7, 2012 10:39am
find a system that suits you...thats the most difficult part..i learnt a lot from the way marty shwartz built his...to compliment his personality as a fearful person who needed instant gratification.

Finding whats totally fits you and has a good statistical edge is the traders dream...when these come together you have your own holy grail.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #35
  • Jun 7, 2012 10:44am Jun 7, 2012 10:44am
Quoting LeanLowFx
Trading is simple if you are a robot , if you are human than it's hard because of the emotions .
It's really hard to remain objective, no matter whether the account is a micro or a standard. Controlling the emotions, trying not to be impulsive..the list just goes on.
  • #36
  • Jun 7, 2012 6:27pm Jun 7, 2012 6:27pm
Quoting LeanLowFx
Trading is simple if you are a robot
Then why isn't every EA profitable?
  • #37
  • Jun 7, 2012 7:26pm Jun 7, 2012 7:26pm
Quoting TotalLoser
Well, if it simple, then you will be rich and very fast.
Just because trading is "simple", doesn't make it easy.
  • #38
  • Jun 8, 2012 3:07am Jun 8, 2012 3:07am
Quoting reynuevo
I found actual screen shots of EURUSD Trades. It is unbelievable! It made me wonder is Trading really that simple?

Do we really take into consideration this job, housing, import export data and all other million stuff then combine them with chart analyzing? May be this is all introduced as a charade to mask the simplicity of trading!
For some it is this easy. For myself, I've found it more complex, and I do consider all those things you mentioned, plus more of course, and charts are the single biggest tool in my belt... but I find it's a lot more than this if one wants a very high degree of success.

But, some have success with basically just mechanical setups following a trend. This wasn't enough for me...but for some it is.

The trick is man to find what works...and then find what you need to make it work for you. The first part is difficult to find, and finding the second part makes finding the first part seem easy.

Good luck.

X
  • #39
  • Jun 8, 2012 3:08am Jun 8, 2012 3:08am
Quoting pemully
find a system that suits you...thats the most difficult part..i learnt a lot from the way marty shwartz built his...to compliment his personality as a fearful person who needed instant gratification.

Finding whats totally fits you and has a good statistical edge is the traders dream...when these come together you have your own holy grail.
Couldn't agree more with this man... absolutly 100% correct.

X
  • #40
  • Jun 20, 2012 10:49pm Jun 20, 2012 10:49pm
I think so.

What's not simple is training/convincing/teaching/learning your brain to implement those simple ideas in the sea of variable volatility and the fact that all you're looking at is a bunch of candles and price levels and formations and lines on a screen and constantly adapting to changing momentum.

Maybe i'm doing it wrong
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