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Trading For Those With a 9-5 Job

  • #4,821
  • Oct 4, 2014 12:35pm Oct 4, 2014 12:35pm
March Sugar

If the black line is taken out then a different dynamic is in play. If price turns back down then eventually price could go to 13.00. Crude is falling and the one supporting story for sugar - the ethanol factor will be collapsing too imho

Olu
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If you think you can or cannot do it you are correct
  • #4,822
  • Oct 4, 2014 12:57pm Oct 4, 2014 12:57pm
GbpCad
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If you think you can or cannot do it you are correct
  • #4,823
  • Oct 4, 2014 12:59pm Oct 4, 2014 12:59pm
Quoting Olu
{quote} Thanks for your comments. The charts are from http://www.insidefutures.com/ for the futures contracts and http://www.dailyfx.com/charts/forexpowerchart for the forex charts Olu
Thank you very much for sharing. Do you trade using these charts only?
A 1 pip gain is better than a 1 pip loss.
  • #4,824
  • Oct 4, 2014 1:16pm Oct 4, 2014 1:16pm
Quoting Olu
GbpCad {image}
After the drop in cable the last few days/weeks I don't understand why this hasn't followed - theres also a death cross

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  • #4,825
  • Oct 4, 2014 1:50pm Oct 4, 2014 1:50pm
Quoting aeternum
{quote} Thank you very much for sharing. Do you trade using these charts only?
The commodity charts are delayed for about 30 minutes but as most of my analysis is EOD it is no problem. The forex charts are live and when I get a signal generally not intraday I open the trade in the broker with the best spreads


Generally Yes. I have accounts with

EtxCapital and Intertrader ----> Indices and forex spreadbetting

Saxobank ----> Futures

Alpari via VPS ----> Forex EAs

Olu
If you think you can or cannot do it you are correct
  • #4,826
  • Oct 4, 2014 1:56pm Oct 4, 2014 1:56pm
Quoting stewrigh
{quote} After the drop in cable the last few days/weeks I don't understand why this hasn't followed - theres also a death cross {image}

Thanks S for the thumbs up. I think there are thoughts that Gbp will be raising rates like in the US. If we get one bad data you will see Gbp tank and tank big. That death cross will play out sooner or later. I want to be sooner

Olu
If you think you can or cannot do it you are correct
  • #4,827
  • Oct 5, 2014 11:20am Oct 5, 2014 11:20am
Quoting Olu
{quote} The commodity charts are delayed for about 30 minutes but as most of my analysis is EOD it is no problem. The forex charts are live and when I get a signal generally not intraday I open the trade in the broker with the best spreads Generally Yes. I have accounts with EtxCapital and Intertrader ----> Indices and forex spreadbetting Saxobank ----> Futures Alpari via VPS ----> Forex EAs Olu
That's a lot of accounts. Must get confusing sometimes
A 1 pip gain is better than a 1 pip loss.
  • #4,828
  • Oct 5, 2014 2:58pm Oct 5, 2014 2:58pm
Quoting aeternum
{quote} That's a lot of accounts. Must get confusing sometimes

No A. It is not so confusing. The proceeds of spread betting in the UK is tax free but they try to make money off us by widening the spreads. Hence my need to shop around. The VPS account is a testing platform at the moment. Profits from the saxobank is taxable in the uk and I only use it for true and pure futures trading

Olu
If you think you can or cannot do it you are correct
  • #4,829
  • Oct 5, 2014 11:13pm Oct 5, 2014 11:13pm
Quoting Olu
{quote} No A. It is not so confusing. The proceeds of spread betting in the UK is tax free but they try to make money off us by widening the spreads. Hence my need to shop around. The VPS account is a testing platform at the moment. Profits from the saxobank is taxable in the uk and I only use it for true and pure futures trading Olu
That is understandable. I'm not that experienced but I believe they try to do the same in Singapore. Maybe one day I could become good enough to make a living off trading and avoid tax completely.
A 1 pip gain is better than a 1 pip loss.
  • #4,830
  • Oct 5, 2014 11:35pm Oct 5, 2014 11:35pm
Olu, I admit I have not read this entire thread. It is 242 pages and too much to read. But I did read your first post about having to trade the higher timeframes due to the fact you have (or had) a 9 - 5 job. It is getting close to 4 years since you've started this thread. Have you still got a day job? Are you proficient enough in your trading to go full-time yet? (assuming you haven't yet turned into a full-time trader. I don't know if you have or not).
"Success is not a fantasy, it's a formula." - MTI
  • #4,831
  • Oct 6, 2014 8:46am Oct 6, 2014 8:46am
Quoting Topgun_1
Olu, I admit I have not read this entire thread. It is 242 pages and too much to read. But I did read your first post about having to trade the higher timeframes due to the fact you have (or had) a 9 - 5 job. It is getting close to 4 years since you've started this thread. Have you still got a day job? Are you proficient enough in your trading to go full-time yet? (assuming you haven't yet turned into a full-time trader. I don't know if you have or not).

Hi T

Great question.

Trading has been teaching me a lot of lessons. Both financially and psychologically. I have still got a day job and still working on consistent income replacement. Along the way though I got harder on myself and set the quit conditions to be 6 months earning 2 times my monthly income monthly before fully quitting. I have only done that once. So I am still in there slugging it out in a 9-5 (sometimes it is even 8am to 8pm!). But it is good for me because even when I quit I will still be trading higher (perhaps even higher) timeframes and following my other interests.

My trading has improved in leaps and bounds as I learn and improve my trading - especially in the last 2 years. God willing this thread might be reaching its target by March 2015 and then we'll have another thread titled 'Higher Timeframe Trading - Daily and Weekly' or something to that effect

So in the meantime please contribute all you can. Thanks to all the contributors and readers of this thread. Hope we all make our targets and aspirations in this business.

Olu
If you think you can or cannot do it you are correct
  • #4,832
  • Oct 6, 2014 9:48am Oct 6, 2014 9:48am
Quoting Olu
{quote} Hi T Great question. Trading has been teaching me a lot of lessons. Both financially and psychologically. I have still got a day job and still working on consistent income replacement. ......... God willing this thread might be reaching its target by March 2015 and then we'll have another thread titled 'Higher Timeframe Trading - Daily and Weekly' or something to that effect ................Olu
Way to go Olu. I know that you can do it, and I look forward to continuing with you on your journey on the higher TFs.

Best, AG
Do not dwell in the past, do not dream of the future, concentrate the mind.
  • #4,833
  • Oct 6, 2014 10:01am Oct 6, 2014 10:01am
Russell 2000

it is said that the SmallCaps are underperforming the SP500. It is true...
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If you think you can or cannot do it you are correct
  • #4,834
  • Oct 6, 2014 3:01pm Oct 6, 2014 3:01pm
Quoting AlbinaGrande
{quote} Way to go Olu. I know that you can do it, and I look forward to continuing with you on your journey on the higher TFs. Best, AG

Thanks AG

Olu
If you think you can or cannot do it you are correct
  • #4,835
  • Oct 6, 2014 6:12pm Oct 6, 2014 6:12pm
Quoting Olu
{quote} Hi T Great question. Trading has been teaching me a lot of lessons. Both financially and psychologically. I have still got a day job and still working on consistent income replacement. Along the way though I got harder on myself and set the quit conditions to be 6 months earning 2 times my monthly income monthly before fully quitting. I have only done that once. So I am still in there slugging it out in a 9-5 (sometimes it is even 8am to 8pm!). But it is good for me because even when I quit I will still be trading higher (perhaps even higher)...
Yeah GREAT Stuff.. GREAT thread.. very clear explanations.............................
  • #4,836
  • Oct 7, 2014 11:09am Oct 7, 2014 11:09am
Quoting Olu
{quote} Hi T Great question. Trading has been teaching me a lot of lessons. Both financially and psychologically. I have still got a day job and still working on consistent income replacement. Along the way though I got harder on myself and set the quit conditions to be 6 months earning 2 times my monthly income monthly before fully quitting. I have only done that once. So I am still in there slugging it out in a 9-5 (sometimes it is even 8am to 8pm!). But it is good for me because even when I quit I will still be trading higher (perhaps even higher)...
That is very ambitious and I really hope you achieve your goal much sooner.

That said, perhaps you could consider going into video analysis or some teaching videos should you have the spare time. I believe the educational materials will help most people including myself.
A 1 pip gain is better than a 1 pip loss.
  • #4,837
  • Oct 7, 2014 1:40pm Oct 7, 2014 1:40pm
Quoting aeternum
{quote} That is very ambitious and I really hope you achieve your goal much sooner. That said, perhaps you could consider going into video analysis or some teaching videos should you have the spare time. I believe the educational materials will help most people including myself.

Thanks A. I hope I achieve it sooner too. About teaching I will try at some point. It would even be better after I have met my goal. Then I would have more time on my hands to do it and also more credibility . There are a lot of teachers out there that are not making a dime.

Olu
If you think you can or cannot do it you are correct
  • #4,838
  • Oct 8, 2014 10:07am Oct 8, 2014 10:07am
Quoting Olu
{quote} Thanks A. I hope I achieve it sooner too. About teaching I will try at some point. It would even be better after I have met my goal. Then I would have more time on my hands to do it and also more credibility . There are a lot of teachers out there that are not making a dime. Olu
I have seen too many videos of people showing past charts and where they "would have taken the trade". Psychologically speaking, it is impossible to predict where you will be taking your trades unless you follow such a strict trading strategy. Thus it would be great if you could show yourself taking the trade. Yes I do mean after you have met your goal. Perhaps you could even allow people to pay to copy your trades.

On the trading front, Gold is rejected from 1220 so far. Daily close here seems quite bearish.
A 1 pip gain is better than a 1 pip loss.
  • #4,839
  • Oct 9, 2014 8:42am Oct 9, 2014 8:42am
NzdUsd

Looking for a downmove from here because of the following

Prior strong downmove
3 Wave retracement looks done
topping/reversal candles after this upmove
Attached Image
If you think you can or cannot do it you are correct
  • #4,840
  • Oct 9, 2014 7:08pm Oct 9, 2014 7:08pm
March Sugar - looking to sell for new lows
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If you think you can or cannot do it you are correct
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