4 trades today First one, lost 11 pips on EJ short, need to work more on when LO dose its thing and set the low or high, not good start for the day Then LO set the low on EJ and after news on Euro, went long with EJ, hesitated a bit and then pushed, TP hit +50 Took EA as long +24 Then divergence on EA, took a short on the pullback, closed for +37 pips Finally found the right pic,{image} {image}
{quote} Griffinssoul, I tried trading the daily/weekly once. I was going on vacation for 1-2 weeks once & I thought what the heck. So I put on a trade for 1 1/2 weeks and just left for vacation. I didn't check the market or even think about it. It ended up being a nice surprise. But it's more of a long term investment than actual trading. I'm more of a trader...
With 6-8 pairs (do not need more) you will have an average of let's say 2-3 good signals per day on H4, and maybe other 4-5 signals on H1 (which I don't like too much, only good if up-scaled to H4 in my opinion) ... THIS IS ALL YOU NEED. You can totally make an average of 50pips per day, it's not easy at first, but doable, and, let me tell you you can absolutely live off from trading with 20-30 pips a day, it is really possible! Just be patient and let your account grow slowly but surely, you don't want to double your account in one month!
Starting with $1000 for example, you will need a good year of warm-up (or maybe more!) and let it grow... then you will see you can make a living with 1-2 trades per day, avoid overtrading at all costs, it's deleterious in so many ways!
Those saying they don't trade for a living, they are just lying to themselves, because they are simply not making enough money, if they start making twice their current salary, I'm pretty sure 90% of them would give up with much pleasure their 8-5 commuting-to-work life. Not all, but most of people would!
I know it's hard, and believe me I know it well, like many of us, I blew up some accounts back in 2007-2008 ... I know how shitty you can feel when you get a SL, and so on and on and on and on ..... they only way to break this mental loop is forcing yourself to have NO EMOTIONS per every-trade, you have to take a difficul mental path to accept that markets do not change because of your micro-lot (or normal lot) account, you have no control on them. You place the order and you have to be TOTALLY OK with the amount you might lose with the SL. It will not effect your happiness/sadness.
You have to avoid the 'HOPE-TRADING' such as 'Let's hope it goes up ... ' because it will just not do what you hope for, as much as it will not listen to the other guy at the same moment saying 'Let's hope it goes down' because he's short on it. Your only concern it will not be if it gets to SL or TP, but to get accurate with entries, and filter out not-so-perfect entries ....LESS IS MORE!
You can release your emotions when, at the end of the week you will be satisfied with your trading and have your money withdrawn to your bank account so you can buy a nice dinner to you and your wife/husband/friend. As long as it's on the trading account, it's NOT money, it's just numbers. Money is only real at the ATM (and maybe not even ...ahah 
)
Green pips to you all folks, we all can make it!
catch you in the next days
{quote} Thanks so much for the encouragement. May I know which 8 pairs of currency do you keep an eye on?
lorbax One thing I can say about your post, its gonna be saved in my TMS folder, psychology folder, experience, call it whatever, its a golden post, from an experience trader Thanks for sharing your thoughts, and thanks for adding to TMS
Chiche, Pipsta, thank you for your nice words, too much
Hi fellow TMSers, how is your weekend going ? I just logged in to drop a few lines, to share with you something that I just 'condensed' in my mind in these days. ....LESS IS MORE! You can release your emotions when, at the end of the week you will be satisfied with your trading and have your money withdrawn to your bank account so you can buy a nice dinner to you and your wife/husband/friend. As long as it's on the trading account, it's NOT money, it's just numbers. Money is only real at the ATM (and maybe not even ...ahah
Hi fellow TMSers, how is your weekend going ? I just logged in to drop a few lines, to share with you something that I just 'condensed' in my mind in these days. I want to let the newbies and not-so-newbies know that forex is something doable, it's not only doable but also quite 'simple', it's not rocket-science, it's not brain surgery (quoting BigE) ...the only BIG thing to do is to stay focussed on what you have and not have to do to succeed. Financial websites, financial newspapers, financial tv (bloomberg, cnbc ...etc), financial reports, and...
great stuff lorbax - trading as most people do is foremost a visual beast - my primer analysis chart has three colors - green for clear long, red for clear short and blue for range or neutral - with one look I can avoid the most painful event to trade against the main trend. The simple technique of giving the chart a colour stopped me from thinking and overthinking about a possible trade and whether long or short - so this simple trique is easing my daily routine and let me concentrate on the important issue, which is to find a good setup and entry with the biggest tailwind, which is the power of upper timeframes and trend.
