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Day Trading for a Living

  • #1,201
  • Aug 16, 2012 6:14am Aug 16, 2012 6:14am
Quoting GDR3k
None lol Ah well, you'll have to PM me your facebook or MSN info.



Good trade, missed that one as I've only just got up, whats your profit target? 1.2218 is looking a good one or 1.2185.

Still in that GU trade from tuesday, about time it got moving, I think I'll go away next august for a month long jolly.

edit - Just closed that GU trade at resistance turned to support, +46, it may bounce back up from here, if not I'll look to re enter short.
I hope to hold the trade until i see the reverse candle in day chart (or TP 2136). It seems the day candle is touching a demand level, if so, i may gain nothing what a crazy strategy.
Follow the smart money. Follow the probability.
  • #1,202
  • Aug 16, 2012 7:25am Aug 16, 2012 7:25am
It's actually getting slower still isn't it impressively.


Method is calling maybe 6 pip moves lol


Early uk open trades or nothing till next month
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,203
  • Aug 17, 2012 6:02am Aug 17, 2012 6:02am
Netted +31 on a GU short last night from 1.57371 -> 1.5706 that was hit sometime in the early morning, TP was just above a demand zone where I thought It'd bounce, and it did.

Re-entered on on a pullback to a supply area, got in short this morning @ 1.5714, TP is 1.5654.
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  • #1,204
  • Aug 17, 2012 9:59am Aug 17, 2012 9:59am
Quoting GDR3k
Netted +31 on a GU short last night from 1.57371 -> 1.5706 that was hit sometime in the early morning, TP was just above a demand zone where I thought It'd bounce, and it did.

Re-entered on on a pullback to a supply area, got in short this morning @ 1.5714, TP is 1.5654.
Hey mate

You don't look like you need company trading
  • #1,205
  • Aug 17, 2012 10:02am Aug 17, 2012 10:02am
Quoting FOURX
Hey mate

You don't look like you need company trading
Just someone to chat to for the boredom.

He called a EU short, so did I but he played it and his TP was hit nicely.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,206
  • Aug 17, 2012 10:06am Aug 17, 2012 10:06am
Quoting Turveyd
Just someone to chat to for the boredom.

He called a EU short, so did I but he played it and his TP was hit nicely.
It was a joke T, don't worry he'll get it, he lives up the road from me
  • #1,207
  • Aug 17, 2012 2:15pm Aug 17, 2012 2:15pm
Yeah that EU call went in my favour lol netted just over +40 pips on that one, my GU short from this morning got stopped at break even but I reckon it'll go onto hit my original profit target...

I felt EU should drop and with GU being the unpredictable of the two I never re entered short on that, I just want september to hurry up. about +150 for the week, happy days.

  • #1,208
  • Aug 17, 2012 2:33pm Aug 17, 2012 2:33pm
Quoting FOURX
Hey mate

You don't look like you need company trading
but it beats watching the UK's finest stock battle it out on jeremy kyle
  • #1,209
  • Aug 17, 2012 3:15pm Aug 17, 2012 3:15pm
Quoting GDR3k
Yeah that EU call went in my favour lol netted just over +40 pips on that one, my GU short from this morning got stopped at break even but I reckon it'll go onto hit my original profit target...

I felt EU should drop and with GU being the unpredictable of the two I never re entered short on that, I just want september to hurry up. about +150 for the week, happy days.

Regretting being a big wuss and not taking that trade, but hey!!

Role on September also.

Good weekends all, plan to spend most of mine sleeping to get over my current bug, what joy!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,210
  • Aug 17, 2012 5:52pm Aug 17, 2012 5:52pm
Quoting Turveyd
Regretting being a big wuss and not taking that trade, but hey!!

Role on September also.

Good weekends all, plan to spend most of mine sleeping to get over my current bug, what joy!!
Aye, you even said the same entry as me near enough, as I said go with your first instinct, from what I've found its almost always right.
  • #1,211
  • Aug 18, 2012 4:54am Aug 18, 2012 4:54am
Quoting GDR3k
Aye, you even said the same entry as me near enough, as I said go with your first instinct, from what I've found its almost always right.
My first instinct is always well pretty close to always right, then I wuss it, then I make a stupid trade as I just wussed a good trade and lose.

I have periods where I rarely lose, so I can do it but I need to focus on the market for a few hours before trading to kinda get into it.

Got to force myself to take trades as per new method then I'm golden and let the SL take care of the 40-50% of losers.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,212
  • Aug 18, 2012 5:48am Aug 18, 2012 5:48am
Quoting Turveyd
My first instinct is always well pretty close to always right, then I wuss it, then I make a stupid trade as I just wussed a good trade and lose.

I have periods where I rarely lose, so I can do it but I need to focus on the market for a few hours before trading to kinda get into it.

Got to force myself to take trades as per new method then I'm golden and let the SL take care of the 40-50% of losers.
if you're only right 50% of the time with a R:R of 1:2 then you'll make money, have an idea where you will enter a trade and wait for the price to hit it and let the PA then convince you to enter, however as that was your first instinct it'll normally come out a winner, as I said statistically my initial first instincts are usually right when doing this, but they say about that in all walks of life, go with your first instinct and don't try and second guess yourself, thats a sure fire way to lose/fail.

Like that EU trade we both called yesterday, overall on the bigger TF I had a feeling it would continue on down after pulling back to that area we both said or at the very least have another go at the low it made before the small pullback or breakthrough to at least the next major support or demand areas, once you start entering trades and winning, your confidence will go up (not saying you lack it), however I find I'm confident that when I enter a trade now I'll make money (it could be confused with arrogance) and I think nothing of losing trades, where when I first started in this game I felt each trade was like a gamble, red or black at the roulette wheel and was nervous as hell when I clicked buy or sell on a live account and was effectively scared of trading, or was I scared of risking money? what many people seem to forget is you have to risk money to make money.
  • #1,213
  • Aug 18, 2012 6:47am Aug 18, 2012 6:47am
When on the pc shortly I will put my chart up.


Trading is simple work out the direction, I need my ma's to see this but it's very accurate Ofcourse directions changes which keeps me out as I hate losses serious mental block.

Demo account I flip in and out and make loads.

Other issue is I see a trade wait for confirmation then it goes up and I don't want to chase it.

New method is market pulls to mainly 90ema H & L range has any kinda pause then I jump in trying to make it more mechanical.

I was watching gold it would drop to the daily pivot bounce back upto the 90ema repeated 6 times perfectly forn20-30 pips a go.

The few trades I have made recently have turned on me which doesn't help with the confidence side.

Need this cracked ASAP no work on, need day trading income sorted by the end of the month giving me 2 months before I need my first 1/2 wage so $ 1000 as should earn some next month.


I'm a just in time kinda guy so it will be cracked just in time and not a moment before.

Role on September.


P.s feel free to kick my ass!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,214
  • Aug 18, 2012 7:21am Aug 18, 2012 7:21am
There is the EU trade, with my setup.

Short around 1.2347 SL 57 - 63 initially. 10 - 16 pip loss max.

2 white lines are the most important, enter near on any visible buyers or sellers supporting the level.

direction didn't change and hey presto profits, hold until the direction changes, first sign being yellow dashes line 30ema, then it held strong till 1.2296 area for 50pips area profit.


just got to trust it, use it and not worry so much about it might lose, focus on it might / should profit instead.
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Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,215
  • Aug 18, 2012 8:02am Aug 18, 2012 8:02am
Loads of testing just, it works more than well enough, going to drop my lot size back to 50cents per pip for a bit, when I went to $1 it all started going wrong, hopefully not for long, plus it will reduce the account battering if live it's to hard to read.


Got Monday, Teusday and Wednesday to crack it, mornings are key as the yanks are on holiday.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,216
  • Aug 18, 2012 8:27am Aug 18, 2012 8:27am
Hi guys..
1st post here, been following ff threads for a couple of years but it takes steel balls to register an account here lol..

Anyway, just wanna ask whether is anyone here trades for a living? And how things going?

Regards
  • #1,217
  • Aug 18, 2012 11:45am Aug 18, 2012 11:45am
Quoting Madscientist
Hi guys..
1st post here, been following ff threads for a couple of years but it takes steel balls to register an account here lol..

Anyway, just wanna ask whether is anyone here trades for a living? And how things going?

Regards
GDR does and is doing very nicely. Only 1 i believe on the entire site sadly.



Ive got no work on next month so ask me again end of September.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,218
  • Aug 18, 2012 1:02pm Aug 18, 2012 1:02pm
Quoting Turveyd
GDR does and is doing very nicely. Only 1 i believe on the entire site sadly.



Ive got no work on next month so ask me again end of September.
Oh I see.. No offence but at some point I thinks that only like maybe 10pc from the guys in the site that really trades for a living.. Sometimes people do make fun of trades the others took without knowing that some people really trades for a living, and really frustrates me.. For me, I trade to live.. I'm an ACCA graduate, but I have no intention to work in a company.. Just finished it for the sake of my self-achievements..

I've been paying my bills and expenses including the papers' fees from the money I made in forex, but I'm single, so I don't know about the guys that trades for their family.. Just want to ask for opinion how do you set your mind when you trade for your wife and kids.. For me I want to be mentally prepared before I decided to build a family and trades to make money for them..

Regards
  • #1,219
  • Aug 18, 2012 2:53pm Aug 18, 2012 2:53pm
Once Profitable to a good level you merely have to increase the lot size to cover what ever you want family wise.

Getting there is tricky.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,220
  • Aug 18, 2012 5:21pm Aug 18, 2012 5:21pm
Quoting Madscientist
Oh I see.. No offence but at some point I thinks that only like maybe 10pc from the guys in the site that really trades for a living.. Sometimes people do make fun of trades the others took without knowing that some people really trades for a living, and really frustrates me.. For me, I trade to live.. I'm an ACCA graduate, but I have no intention to work in a company.. Just finished it for the sake of my self-achievements..

I've been paying my bills and expenses including the papers' fees from the money I made in forex, but I'm single,...
Atleast you have something to fall back on should it go tits up, me, I've got mediocre gcse grades from school, I believe I can spell fudge with mine, with two U's as well, did a few years at college and got an AVCE in IT but thats it, worked various jobs from warehouse to call center to driver but nothing concrete, never really worked in the IT field either but would of loved to have gone to uni to do some sort of degree related to that.

I've no wife or kids (that I know of), so its just me, the money is mine and mine alone until the tax man comes knocking next april, the fat prick! Que tax avoidance scheme 101.

That being said, if I could trade FX for a company I would, simply so I'm not risking my own money.
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