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Professional growth of a trader

  • #1
  • First Post: Edited 8:41am Aug 24, 2006 8:28am | Edited 8:41am
Hi guys,
I'm a newbie in the forex but not in the stocks markets. I open this thread/diary to take note of my professional growht in the forex market. I hope to reach success in forex trading in a few months.I opened a demo account but I'm only watching the price movements for now.
I'm a trend follower so every day I take note of the weekly,daily and hourly trend.I use an excel sheet as shown in the following picture.Most used tf is 30m
http://img89.imageshack.us/img89/4846/trendswq7.gif
green=trend up
yellow=trend not clear
red=trend down

.......
  • #2
  • Aug 24, 2006 8:36am Aug 24, 2006 8:36am
..besides the trend situation I calculate the pivot points and the most important resistance and support levels.If trend down,only short.If trend up,only long positions. My arsenal has different entry signals,moving averages,ledges and congestions,+ the usage of the Vegas fib levels.
My beliefes:
Follow the trend
Use the stop loss and TP
Trade from 07:00 am GMT to 09:00 pm GMT
Don't open new posions before the release of macro data
Since now I'll post my trades and I want to reach a good professional level and participate in the European TOPTRADERCUP

Canados
  • #3
  • Edited 11:19am Aug 24, 2006 11:04am | Edited 11:19am
short USD/CHF @ 1,2382
SL 1,2393
TP 1,2363
1 lot
  • #4
  • Aug 24, 2006 11:28am Aug 24, 2006 11:28am
Quoting canados
short USD/CHF @ 1,2382
SL 1,2393
TP 1,2363
1 lot
stop loss moved to BE
  • #5
  • Aug 24, 2006 11:42am Aug 24, 2006 11:42am
Quoting canados
stop loss moved to BE
close @ BE
  • #6
  • Aug 24, 2006 12:26pm Aug 24, 2006 12:26pm
The level I shorted was a good level.My bands+vegas level+trend line+trend not clear...my bands are good during side ways movements.But this time the price turned back to fast so I closed the position.
Be patient and you'll see some good trades using that levels

Canados
  • #7
  • Aug 24, 2006 1:32pm Aug 24, 2006 1:32pm
Quoting canados

Be patient and you'll see some good trades using that levels

Canados
hello and welcome to FFF. Sorry to be so sceptical and critical right off the bat but...

I noticed you said you want to achieve success in a couple of months. I then noticed 2 words you used here. Be patient

Even if your good in the stock market many come from there and lose there a** in forex.

Not that it cann't be done but its very unlikely to dive right in forex and achieve success in just a few months.

I like the sound of that traders cup. This I will have to learn more about.

Best of luck to ya and I'll be waching with great intrest.

Dave
  • #8
  • Aug 24, 2006 1:41pm Aug 24, 2006 1:41pm
Dave,

Good points. I quite agree with you. Forex needs patience.


Quoting xxDavidxSxx
hello and welcome to FFF. Sorry to be so sceptical and critical right off the bat but...

I noticed you said you want to achieve success in a couple of months. I then noticed 2 words you used here. Be patient

Even if your good in the stock market many come from there and lose there a** in forex.

Not that it cann't be done but its very unlikely to dive right in forex and achieve success in just a few months.

I like the sound of that traders cup. This I will have to learn more about.

Best of luck to ya and I'll be waching with great intrest.

Dave
  • #9
  • Aug 24, 2006 5:50pm Aug 24, 2006 5:50pm
Quoting xxDavidxSxx
hello and welcome to FFF. Sorry to be so sceptical and critical right off the bat but...

I noticed you said you want to achieve success in a couple of months. I then noticed 2 words you used here. Be patient

Even if your good in the stock market many come from there and lose there a** in forex.

Not that it cann't be done but its very unlikely to dive right in forex and achieve success in just a few months.

I like the sound of that traders cup. This I will have to learn more about.

Best of luck to ya and I'll be waching with great intrest.

Dave
Hi guys,
you're Right,it's not easy to reach the success in a few months,in fact I'm not sure of the time I said. It's not a bat, but maybe I'm too optimistic. I know I'll become a successful forex trader but I don't know exactly when. I have discipline,I like what I do and others skills a trader must have.Thank you for writing in my thread.I opened it to show my learning curve.

p.s. how is my english?

Canados
  • #10
  • Edited 9:17am Aug 27, 2006 8:08am | Edited 9:17am
for coming week

WEEKLY PIVOTS

GBP/USD 1,9024-1,8840
EUR/USD 1,2845-1,2633
USD/CHF 1,2529-1,2290
USD/CAD 1,1174-1,1096
EUR/GBP 0,6793-0,6711

p.s.in the pic,gbp and not gbd
Attached Image
  • #11
  • Aug 27, 2006 9:20am Aug 27, 2006 9:20am
Quoting xxDavidxSxx

I like the sound of that traders cup. This I will have to learn more about.


Dave
www.toptradercup.com
  • #12
  • Edited Aug 28, 2006 3:20am Aug 27, 2006 11:14am | Edited Aug 28, 2006 3:20am
This is one of my favourites toptraders.His name is Birger Schafermeier and he's from Germany.He uses simple tools such as top and bottoms,Elliott and fibonacci.He hate the patterns.Unforntunately it's not easy to find documents or books in english written by him :-(..He's obsessed with exits and money management
www.nybt.de
http://www.lombardreport.it/lf/images/fr_birger.jpg
  • #13
  • Aug 28, 2006 6:58am Aug 28, 2006 6:58am
short EUR/GBP @ 0,6757
SL 0,6764
  • #14
  • Aug 28, 2006 8:54am Aug 28, 2006 8:54am
Quoting canados
short EUR/GBP @ 0,6757
SL 0,6764
It's going well but I'm in with 1 lot only..error
  • #15
  • Aug 28, 2006 9:08am Aug 28, 2006 9:08am
short GBP/USD @ 1,8984
SL 1,8997
TP 1,8961
  • #16
  • Edited 12:11pm Aug 28, 2006 10:46am | Edited 12:11pm
Quoting canados
short GBP/USD @ 1,8984
SL 1,8997
TP 1,8961
exitshort @1,8966
+18 pips
  • #17
  • Aug 28, 2006 12:10pm Aug 28, 2006 12:10pm
Quoting canados
short EUR/GBP @ 0,6757
SL 0,6764
exitshort @ 0,6743
+14 pips
Exit without signal because I have to go out :-(
  • #18
  • Edited 2:11am Oct 3, 2006 1:59am | Edited 2:11am
Hi traders,
I stopped my postes because during the last weeks I fixed more mechanic rules..So now I can restart. I restarted yesterday and I entered the following two positions
http://img223.imageshack.us/img223/7...nter034uf3.gif
  • #19
  • Edited 2:44am Oct 3, 2006 2:18am | Edited 2:44am
I should be short on EUR/GBP from 0.6760 but when the cross stroke that price I was sleeping :-(...I'm following that position virtually

I'm crying for missing that position
  • #20
  • Oct 3, 2006 4:33am Oct 3, 2006 4:33am
USD/JPY exitshort @ 117.76
+21 pips
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