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The Trader's Academy - by Traders for Traders

  • #1,061
  • Jan 24, 2017 10:06am Jan 24, 2017 10:06am
Quoting Monokl
{quote} This is very useful advice. Thank you, Cat
You are welcome...it could save you years...literally!
  • #1,062
  • Jan 24, 2017 3:29pm Jan 24, 2017 3:29pm
Quoting cat
{quote} How wrong you are..we all trade our time for what we hope the market will give us in return.
Touche.
But we both knew the subject is what is on the chart.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,063
  • Jan 24, 2017 4:27pm Jan 24, 2017 4:27pm
Quoting TooSlow
{quote} Touche. But we both knew the subject is what is on the chart.
Do we? Our time is a precious resource, and those who manage it best are usually the ones who get ahead in this world, and no more so than with trading. Before we are able to make sense of what is on the chart, we have to make a big investment in time, which will never be returned to us, so best use it wisely
  • #1,064
  • Jan 31, 2017 10:14am Jan 31, 2017 10:14am
Quoting cat
Dollar basket looks to me to be putting in a top on the weekly, which wouldn't be a surprise as its very over extended. This will have implications right across the board, obviously bringing the $ and US/European stocks down, the euro.sterling up. Keep an eye on it, we could be a t a pivotal juncture in the markets. Time will tell. {image}
Never ignore technicals.

http://www.reuters.com/article/us-gl...-idUSKBN15F013
  • #1,065
  • Jan 31, 2017 12:05pm Jan 31, 2017 12:05pm
Interactive trading forums are okay for entertainment, if that's what you need when you're trading, but as a place to learn, forget it. Learning how to trade is done alone, in a quiet, darkened room, with your monitors and perhaps the cat for company. It is the only way.
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  • #1,066
  • Jan 31, 2017 12:59pm Jan 31, 2017 12:59pm
Interactive trading forums are a big contest of egos.

Attached Image
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,067
  • Jan 31, 2017 1:09pm Jan 31, 2017 1:09pm
Quoting TooSlow
Interactive trading forums are a big contest of egos. CalvinPeeing.jpg;2165584 {image}
" More the knowledge, lesser the ego,
Lesser the knowledge, more the ego " - Albert Einstein.
  • #1,068
  • Feb 1, 2017 3:24am Feb 1, 2017 3:24am
Quoting cat
Interactive trading forums are okay for entertainment, if that's what you need when you're trading, but as a place to learn, forget it. Learning how to trade is done alone, in a quiet, darkened room, with your monitors and perhaps the cat for company. It is the only way. {image}
Agree. Majority of traders do not have mentors, but learned to trade hard way, by themselves.

I have switched couple of jobs, and nobody ever helped me. I will always remember this anecdote, it was 20 years ago:
I just started to work in one daily newspaper, and my job was to scan material for the graphic layout team. It was some piece of shit 386 computer... With one eye I was looking at the other guys who did the layout in QuarkXPress, which at that time was no. 1 software (Adobe Ilustrator took over many years later). I was learning that way, and was carrying a English dictionary with me to work to understand some of the terms used in software. Gradually, I have learned enough, so bosses put me as help for layout also, I was doing easier pages... So, I asked the chief - grafical editor - what was he thinking about one page that I just finished, and he replied to me: "I charge for my time, If you want to learn"... I was like - WTF man, we are all working together, it will be beneficial for all of us, if I know more???... I will never forget that.

I learned the job myself. Five years later I become grafical editor of most popular women magazine in the country. One day I was in printing house, one of the biggest one, to oversee how will they print cover page and all... one guy aproached me and said: "CEO (of the printing hoouse) wants to talk to you". I didn't know why. So, I entered in his office, he offered me coffee and juice, and said: "Listen kid... I just want to say this. Here we print about 40 different magazines. We do not have any problems whatsoever with just two prepared materials. You are one of those two. We are confident that we don't need to do anything with your material, just print, and everything will come out awesome." I was proud. I did that on my own. I came back to the office and told that to my CEO. She only said - "Well that is your job, right?". That fukin cow. I was thinking - this is my peak here, I have reached my max in this job... Two months later, I have already making more from stock market in one week than whole month in the firm, so I quit.

The whole time I was thinking, how much time I spent learning all that alone. But that is the reality for most of the people. Invest in learning, invest time, there are no shortcuts. I am investing incredible amount of time to live of trading again, this time trading futures and options. It takes time. Plenty of time.
Hope is dangerous in this game.
  • #1,069
  • Feb 1, 2017 3:31am Feb 1, 2017 3:31am
Quoting cat
Interactive trading forums are okay for entertainment, if that's what you need when you're trading...
The same can be said of many of the forums; and for comic relief.

KP
Do your homework, follow the footprints of smart money
  • #1,070
  • Feb 1, 2017 4:07am Feb 1, 2017 4:07am
Quoting cat
Interactive trading forums are okay for entertainment, if that's what you need when you're trading, but as a place to learn, forget it. Learning how to trade is done alone, in a quiet, darkened room, with your monitors and perhaps the cat for company. It is the only way. {image}
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  • #1,071
  • Feb 1, 2017 7:51am Feb 1, 2017 7:51am
Hi

Urgent help, please!! Anybody.

I need some help to change a indi. Don't think it is a major change. See the attached pics. I give 2 examples.

The indi alerts when candle closes and I want it to alert sooner.

I tried to change it but messed up. Hehe

I also attach the indi.

Attached Image (click to enlarge)
Click to Enlarge Name: Double Trouble Change example 1.jpg Size: 93 KB

Attached Image (click to enlarge)
Click to Enlarge Name: Double Trouble Change example 2.jpg Size: 95 KB

Attached File(s)
File Type: mq4 Double_Trouble.mq4   4 KB | 402 downloads
  • #1,072
  • Feb 2, 2017 1:33am Feb 2, 2017 1:33am
When everybody was screaming parity back in November, I put my bottoming zone in. after climbing and dropping back again, it looked as if they may be right, but it only closed once below my lowest level. Now apparently, the dollar has had its worst January in 30 years, but I think this is nothing to what we will see this month, as the % index is technically set to come down hard.
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  • #1,073
  • Feb 2, 2017 9:48pm Feb 2, 2017 9:48pm
Quoting StrayDog
{quote} Hi cat. Very god post by unknown trader , with one of my favourite sayings by Ed Seykota: If you cant take a small loss, sooner or later you will take the mother of all losses. Moving SL to BE too soon is yet another version of fear of losing.
Nice one!
One of my favorites: If you can't handle stress, you can't handle success!
  • #1,074
  • Feb 3, 2017 6:46am Feb 3, 2017 6:46am
How focused are you when you are trading? My bet is that many people are not as focused as they need to be, and this will have a negative effect on their performance.

We retail traders have a great many potential distractions...ff, email, youtube, facebook, twitter....the list goes on. It is extremely easy to become distracted whilst sitting at the computer. How many of you missed good trading opportunities because you were distracted by something else, when in reality you are sitting there to trade, not to entertain yourself some place else.? I know I have, and more than one or two.

Focus and concentration is everything in trading, a trader has to be completely ' In the zone ', if performance is to be maximized, because trading is difficult enough without allowing your concentration to wander. The best traders all know this, and they will have at some point taken steps to ensure that when it matters, they are in that 'zone', and nowhere else.
  • #1,075
  • Feb 3, 2017 7:07am Feb 3, 2017 7:07am
I just noticed a typo in that post with the eu screenshot above. I say that the % index is looking like it'll come down hard this month, when I meant the US$ index.
  • #1,076
  • Feb 3, 2017 12:42pm Feb 3, 2017 12:42pm
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  • #1,077
  • Feb 3, 2017 1:08pm Feb 3, 2017 1:08pm
Quoting cat
How focused are you when you are trading? My bet is that many people are not as focused as they need to be, and this will have a negative effect on their performance. We retail traders have a great many potential distractions...ff, email, youtube, facebook, twitter....the list goes on. It is extremely easy to become distracted whilst sitting at the computer. How many of you missed good trading opportunities because you were distracted by something else, when in reality you are sitting there to trade, not to entertain...
Trading is too boring to be focused.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,078
  • Feb 11, 2017 8:37am Feb 11, 2017 8:37am
Inserted Video


Overcoming fear is without a doubt the single biggest psychological challenge we traders face along the journey to success. It is not everything, and it is not the first thing we must learn, but unless we overcome it, nothing else is going to work, no matter how many years we put into it or how good we may be as analysts. First we have to learn how to trade, and once we have done, we then have to put all that knowledge, hard work and experience into practice, and this means moving into a zone in which the fear factor does not exist, or if it does, is under control so as not to sabotage our trading performance.

I came across this short video, and I reckon it carries a pretty punchy message which applies to all areas of our lives, but as we are traders, it is particularly suitable.
  • #1,079
  • Feb 11, 2017 12:00pm Feb 11, 2017 12:00pm
Just heard about a new diamonds trading/investment platform from few friends at the ICE totally gaming conference. Anyone who can elaborate on that?
  • #1,080
  • Feb 13, 2017 2:45am Feb 13, 2017 2:45am
Quoting cat
How focused are you when you are trading? My bet is that many people are not as focused as they need to be, and this will have a negative effect on their performance. We retail traders have a great many potential distractions...ff, email, youtube, facebook, twitter....the list goes on. It is extremely easy to become distracted whilst sitting at the computer. How many of you missed good trading opportunities because you were distracted by something else, when in reality you are sitting there to trade, not to entertain yourself some place else.? I...
Whatever that helps you to keep focused and concentrate. Lately I've been painting these with charts going on and this
Inserted Video
on the background. I try not to do anything else when I'm in a trade. Anything with lyrics or sentimental melodies don't work. Sometimes I tend to wander off to youtube, ff and twitter but the combination of these two have kept me away from these distractions so far.

Trading for a full time (whether you make anything) requires a great deal of patience.
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