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Why do indicators not work/work? Why is Forex not truly random? 129 replies

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Attachments: Work Vs Trade
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Work Vs Trade

No pro here, but if my 2 cents means anything, it's that the beauty of FX is that because of the world wide market when you get home, a market somewhere in the world is open(Except Weekends duhh...) - meaning you can TRADE practically anytime of the day!!!!

My theory is depending on the timezone your day job is, if you get home and the Sydney market is open, it being a lot slower you could try and catch smaller pips - I am testing a system at the moment that catches small pips in slow, quiet periods - wouldn't suit high volatility market such as US.

If you get home and you're in the middle of the London market, it having a bit more volatility you could find or develop a system to suit that time of trading.

I believe although the market is there 5 days a week, 24 hours a day, you don't have to try and be there in all your spare time. Find a time frame that suits you and a trading system to match

Travis
I dont think you have to choose between being a successful trader in the long term and having to work 9 to 17.
If you have very good strategy then you can become successful in the long run.

Bear in mind in today's 24hr market were you have access to your trades via mobile, tablets and more you could keep an eye on your trades at lunch time whilst at your work. Success can be subjective I suppose??
Rookie here. I can't say about nine to five job, but IT IS possible to trade if you have a job with flexible schedule, even if it's sometimes more than 8 hours long. At least in my case.

Besides, as it is said above and by other people - we are living in totally different world (tech wise) than it was even 5 years ago. We have drones, tablets for all size of hands, smartphones and smart watches. I won't be surprised if we end up as people in Wall-e, sitting in floating chairs and doing everything from the screen above us.

So, yes, it is possible, at least for flexible schedule work.
Don't stop your job until you find your system. This will take some time. I am also trading while working. I am looking for much longer charts and trade about 05 entries per work. But you need to monitor trades time to time.
I gotta agree with robertrfx on this one. It's a nice thing to live without work and spend your time trading, but without a fallback, you could have a hard time of it.
Good point, everyone...
But different world on me. IT from 9 to 6 is a legend to me. Almost impossible to trade, as my mind is always occupied with work. Yes, you have mobile platform and able to trade anytime, that's possible. But mobile platform itself can only do open close order, looking at charts, am I right? To do analysis is very....limited. London Time is a busy time for me, and New York time, is the time where I'm on the way home after work. So, I'm losing the chance always. That's why I'm looking a system without human interference... (literally).

And yes, good system is what I am looking for (well, before quitting my job).
I'm a lazy trader... please don't follow me for no reason...
Quoting jotekfinance
I gotta agree with robertrfx on this one. It's a nice thing to live without work and spend your time trading, but without a fallback, you could have a hard time of it.
That's why you should always have some plan b or second temp work, so if something happens to your primary source of income, you could always quickly find another one.
If you have the patience, hanging out on the daily chart can often be the most rewarding. So if your job pushes you in that direction, even better!
Broker: chartsio, Trading Frequency: 1-2 per day
I do have an 8-10 hour day job, and i still manage to trade, the good thing about forex its really up too you how much time you invest in trading.. scalpers have it hard on them i guess since it takes a lot of time on a daily basis, swings and position trading can be a good option..
Any time you are moving forward, it is ambitious my friend. Making the trading apps is a great goal. It will take your game to another level just by understanding the mechanics of the game better.
Yes, it is possible to become a profitable trader with a 9-5 job, but it requires a lot of discipline, a detailed plan and work - but it's doable.

Here is an article that will take you through a a few steps that will make life easier if you want to become a trader while working 9-5.

http://www.tradeciety.com/become-a-profitable-trader/
Learn from yesterday, live for today and hope for tomorrow.
Some do work and trade part time but trying to juggle a full time job and forex trading ain't that easy..
Quoting TraderRolf
Yes, it is possible to become a profitable trader with a 9-5 job, but it requires a lot of discipline, a detailed plan and work - but it's doable. Here is an article that will take you through a a few steps that will make life easier if you want to become a trader while working 9-5. http://www.tradeciety.com/become-a-profitable-trader/
Apparently, still 9-5 is not doable for me
But honestly, the article is very good, liked it. Infact, I'm doing all except Step 3.



Quoting jotekfinance
Any time you are moving forward, it is ambitious my friend. Making the trading apps is a great goal.
To me, it's not a great goal, it's not ambitious, I just want to remove the headache of reading charts, indicators, fundamentals, fibo, trendlines, I ain't got no time for that. It's just too much. I just want to back to basics, find a simple way, and automate it. I'm the same trader as you are, believe me. Not a trader born in last 2013, but old timer, been through a lot of losses in a lot of times as many traders are. Only my trading style is different than yours. Automated trading is impossible for most of traders, but for me it is just like doing my own IT work styles + trading. Bug fixes and errors will be there, losses will always be there, of course. No system in this world could make 100% profit all the time.

BUT, I'm not as ambitious as some of "manual traders", by getting a mammoth-like profit in a few shots, even "1000%-profit-per-month trading system" (though it is possible, by opening the bigger risks). So at this point, my definition of ambitious is definitely different than yours.

Quoting jotekfinance
It will take your game to another level just by understanding the mechanics of the game better.
Yes, we all doing that. Even those who are doing manual trading. Open charts, drag lines, find trendlines, fibo, more indicators, more indicators, open trades, close trades. We all indeed trying to understand the mechanics of an alien called "trading".


I can't answer how ambitious I am accomplishing automated trading, what I can say is, we'll see the result in the future. 2 years next, 3 years next? Of course, I'm waiting for that.

Quoting from the article above:
Quote
Although this point is true for all traders, it is worth pointing out here again. So called ‘system hopping’ is one of the main reasons why traders, even after years, still look like amateurs and cannot see any improvements in their trading performance. The saying “it’s not the trader, but the trading strategy that is responsible for becoming profitable” is very stale but has more value than traders can imagine. Choose one method, master it, stick to it and don’t change it! Every time you change your system, you start as a complete beginner from...

So I may want to stick to my strategy...
I'm a lazy trader... please don't follow me for no reason...
Honestly, I like your attitude and way of thinking, radityo.ardi. It will be great if you stick to what you have written, because you know, we all can write nice posts and how we will succeed in accomplishing set goals through strict and disciplined actions, but the reality usually is different. Nevertheless, all the best for you in sticking to your strategy.
Quoting TraderRolf
Yes, it is possible to become a profitable trader with a 9-5 job, but it requires a lot of discipline, a detailed plan and work - but it's doable. Here is an article that will take you through a a few steps that will make life easier if you want to become a trader while working 9-5. http://www.tradeciety.com/become-a-profitable-trader/

Nice psychological disposition. Actually I am not too much concerned about mental side of trading, stressing on skills, brokerage research, etc. Maybe the holy grail in psychological management is just leaving alone your emotions and working on MM and skills instead.. What do you think
Quoting radityo.ardi
{quote} Apparently, still 9-5 is not doable for me But honestly, the article is very good, liked it. Infact, I'm doing all except Step 3. {quote} To me, it's not a great goal, it's not ambitious, I just want to remove the headache of reading charts, indicators, fundamentals, fibo, trendlines, I ain't got no time for that. It's just too much. I just want to back to basics, find a simple way, and automate it. I'm the same trader as you are, believe me. Not a trader born in last 2013, but o.......I'm waiting for that. Quoting from the article...
Nicely said but just one quick question, are you using EA? Your own or something else?
this is the beauty of forex trading, the possibilities are limitless, and the flexibility is awesome. yes its doable.
Quoting Mingary
A day job is absolutely necessary because a real job separates reality from fantasy
Get over it
It's a game.
Quoting Vitez
{quote} Get over it
LOL, I know but for some reason Ming persists in staying put at FF..despite thinking it is all fantasy. Guess to each his own, huh..
It's absolutely possible, but one has to be very organized and disciplined to achieve any good results.
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