Time Determines Everything in Our Life!

The most valuable tool in trading determined by time. In other words Time - is the most valuable tool. Time determines our ability in work, in family, in business, in trading or success in every filed of our life...many traders following all possible systems to find the best one which can suite their style and still couldn't reach positive results. I do not claim that what I am saying very faithful, I just want to share my experience, which may help some traders to find the right path and answer for their trading life. I suffered for many years passionate to become a professional trader researching so many systems, software's, books, attending seminars and webinars and much more ...and one day, I just stopped looking around, I absolutely stopped doing what I was doing, no more reading educational books, systems, seminars, webinars, nothing...I even stopped trading for awhile, I just realized that ALL I have and ALL what I know - enough to make money. I closely watched the movement of charts, price action and followed systems and rules what I created for my self, for my trading style...and suddenly I began to see a clear picture, day by day, month by month... TIME or MY OWN EXPERIENCE - MOST VALUABLE TOOL in OUR LIFE - this is a REAL WISDOM and it's MY WISDOM, MY EXPERIENCE AND MY OWN LIFE!!!

There is a few reason why I stated above that Time - it's most valuable tool.. more time you spend watching charts and lets say particular chart or pair, the more feeling you will get...all you need just any good simple strategy. I know that the most difficult part it's to except that or to agree with this statement...its a psychological aspect ... I was searching and following lots of strategies here on forum, most of them very good ones, some of them very simple but still profitable... all what need for trader, just take one system or strategy and work on it, stick to it, master it, don't jump from one system to another, from one time frame to another, from London session to New York session... I will continue to post here some tips and ideas about trading style and strategies....

Yes please ... Time ... the most powerful tool and the biggest enemy ... Can you be more specific about the benefits in trading .. I'm all ears and have been since the first post.

I agree that time spent watching pairs is very important.
Some time ago, I've watched around 35 pairs. I've had my levels drawn and was just waiting for some PA around them. Wasnt really working, even though in theory it should, I thought.

Then I began watching and trading just the mayors and after a month or two I started to get a feeling for those pairs.
Certainly, Im still at the begining, but at least now I see that watching, remebering, anticipating the moves of those few pairs is crucial for having a higher success rate.

Yes, that's right... for example, I can trade any pair, but my focus is GBPUSD, I spent 1000s hours watching and following this pair and I master it ... I approached 80%-90% accuracy on this pair... ok, about specific: I am just trying to share my feelings and experience... I feel pain when I watch how beginners following 100s of systems jumping from one to another... you have to pick one strategy which feet your time... for example, I spent 10-15 minutes most a day. I have my comfortable zone with one pair making 300pips average on monthly bases, that's absolutely enough for me... to make more, I have to spend more time, more pairs, probably I will make more mistakes then...

The GBP/USD is definitely the easiest to trade pair out there for me. Love the price action in that pair... More often than not it's just perfect range trading!

The EUR/USD is great trading because when it gets moving it moves like a banshee! I don't really like any of the other pairs currently... The USD/JPY is real easy like a kiddie game but there isn't many pips to be had.

One of the things I like to do is watch three different pairs at a time to compare strength levels. EUR/USD, GBP/USD, and AUD/USD. You also get a feel for the flow of the entire market and where demand is going watching these three pairs at the same time. The other set I intermittently look at is the USDCHF, USDJPY, and USDCAD. The correlations are not as high, but you can still easily detect if there is something going on in one of the currencies vs the others.

Last night when the EUR/USD was selling hard out of the gate on the EU open and the GBP/USD was holding steady. What did that tell me? Two different things... The GBP/USD was stronger and the best bet for long trading. It didn't have as much range limiting upside a little but it's price strength was good so there was little downside risk.


Bottom line... Watch multiple currencies together. It will take your game to the next level. Your brain will start to pick up useful correlations and events... Like when the EUR/USD and AUD/USD are diving and the pound is just sitting compressing. What will happen when the EUR and AUD turn?

You will also see other interesting things like one currency leading the others... Or one currency having a confusing trading setup while the others have a clean and visible setup.

I never trade with established trends unless there is a news catalyst driving momentum... I always just try to time the turns or get into the first higher low or lower high.

"spekitox
Lucky Man"
let me tell you one of the good set ups my friend shared with me a few weeks ago, in few weeks I made 8 positive trades and 1 negative:
Daily chart 10 EMA... for "BUY - LONG" trade, 5 candles has to open and close clearly above EMA , after that you wait till it touch EMA, (I placed entry orders, just few pips above, cause I don't like to sit in front of the charts) same thing for "SHORT" trade...5 candles has to open and close below EMA.. this set up for Daily Charts ONLY... just take a look several charts and pay attention to this set up... the thing is, you still have to master it...for example: my friend tell me about it, but he was not able to place entry orders, just one, I took 9 trades in same period of time... this is why I states that TIME - DETERMINES EVERYTHING... after spending several days and weeks, you getting this feeling...

Thanks, that is what we need ... simple approaches .. trend following on the daily, what more do you need? Nothing really.

I hear many times that trading is simple. I would agree and disagree on that statement... I have friend of mine who is successful trader. Before he became successful he suffered for 4-5 years, he spent 12-14 hours in front of the charts. I spoke with him awhile ago on the phone. He told: "trading is easy and simple" and I disagree with him and tried to explain him that it's became simple and easy for you cause you see charts, set ups and the most important you prepared psychologically... also, we have to be very flexible in trading same as in our lives. If we make strict rules, I think we will fail, this is what I experienced...

Another very important point - Always be flexible to change your approach for short time of period...
This is what I mean by stating that: in last 12 months, I changed my style maybe 5-6 times, all depends on market behavior... there is time when I can take 50-120 pips per trade, but sometime I just change to scalping for month or two. I think psychologically it's NOT easy to do, but this is something that every trader has to learn.

""" Everything is relative and subject to constant reassessment even to the point of totally changing your opinion about the direction of the market. """
(Al Brooks)

Hello Everyone,

I opened a new LIVE account with $50,000 to linked here, you can follow up all my trades, feel free to post any comments or questions... thanks rugevo

Why is important to be a flexible in trading. I would say NOT only in trading, but it's important in our life. Its wrong to follow up our systems religiously, Its wrong to have always same rules.. it's my opinion.. life changing, our environment changing all the time, our tastes change time to time. Why then we think that trading environment stays same. It's a psychological game in trading community. It was my first step to success in Forex trading after I realized that...We need to have 5,6,7 different approaches and change them depends on market behavior... it will take time to get this feeling, when I have to take 10 pips or 100 pips or whatever I think is right... please share your experience...

Another very important point: this is ONE of the MOST IMPORTANT RULE for me:
I have to have at least 2 different confirmations to enter in to the market.
For example: I use RSI, MAs & Fib. Levels... I am very confident when all 3 match...

Timing is crucial in investment. Is just how much time required to achieve oneself objective. Trading stocks is 99% win, is just time issue. If trade A enter at wrong timing, he may take 10 years as example to break even his trade. Compare to trade B, he/she knows how to apply techniques and money management rules. He/she could shorten the time to withdraw the profit trade although it is 99% winning rate. 1% is other uncontrollable factors (Dead, end of world etc....).Lolx

I have traded for 10 months. The highest balance of my account had been almost double than my initial funding. But I find a important thing to me that it is a ceiling of my mentality. I have never broken out this ceiling yet. As far, I made so many wrong direction of trade.

SL!SL!SL!, MC!MC!MC!,it often happen to me. And now, My balance of account is almost 0$...........I m upset now.....

Hi Rugevo,

I trade Price Action Patterns near EMA in H1. to me TIME & FLEXIBILITY is really everything.

For example:
I have found that "Back Testing" really helps me in more confident on taking the setups. From my experience I have learnt that when I'm doing back testing I'm in the mood for trading so as trade setups show themselves in a very short time (because I'm back testing so the candles closes quickly) I make judgements very precisely BUT in the real account when because of the time between each candle is one hour and in real life there will be lots of things going on with me (My day is relatively busy) so I will NOT be mentally 100% ready & although my overall PnL is up till now BUT this hurts the performance rate.

One thing I have found to be helpful on this matter is that to have a complete detailed plan for all market conditions that show up before you start trading. this improves the result but not completely.

I will be open for your suggestions...

Regards,
Mohammad

respond to "ppleng'' There is nothing you can do ...it will take TIME... I trade for 8 Years, I never traded Demo accounts...I was loosing for 5+ years and most reason NOT the technical, but emotional & psychological.........................

To "khanderoo"
I use 2-3 different MAs set ups to fit different market conditions... for example: 50EMA on 30 Min. was very good last few weeks on EURUSD, but market changing all the time... this is why I mentioned earlier, that it's very important to have 2-3 different confirmations on same time. Few years ago, I was not able to recognize these changes, even today, I do mistakes, but after all, my accounts positively grow with money management and some guidelines that I developed for my self...
I like backtesting too...I did so much, 100s of hours, but after all, I realize that there is no System which will fit for ALL market conditions... this is why it's important to have 4-5 different approaches and knowledge when to apply it...

Another very important point what I realized from my experience. Learn to trade is a Personal Path, even if you read lots educational books and attend to seminars or webinars, nobody can teach another one how to curb their emotions... and all people are different: self discipline could be easy step for someone and for another very painful path...................

If anyone following my Live Trades here, just would like to let you know...I am not planning to open trades today, I think it will be smart to wait for another day to settle down after election...