The Active Forex Traders Discussion

[Maxjohan]

The blue ovals are trades I should have taken today.

Funny. Kind of resembeles on the trades I should have taken. Which CarrieW mentioned.

Are you a manipulator? You know, those who suck energy out of people? Why else would you include "trades you should have taken"? Or just pissy insecure about my prediction still?

So is he finally gone? ha Can we actually talk about trading now? Cause I've been getting killed this past week.



Have you tried bigmiketrading.com?

I will not be gone as long as people are talking shit about me. Or trying to suck energy out of me. I stand up for myself.

 

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[CarrieW]

omg for real? please stop. the sentiment of the post is that you were/are aggravating people. just as I thought... sorry you misunderstood that for invitation to come back and start more shit. it really wasn't an invitation. I will start reporting you. I didn't want to have to go all I am gonna tell on you but I am so stop or I will.

back to the POINT OF THE THREAD I don't use the news in the sense of trading news. I just look to the overall outlooks on whats been announced and articles that are posted on currencies. I have systems for news trading but I am not trading like that right now.

what made you stop from placing the other trades you identified?

 

[MJ DeMarco]

I will not be gone as long as people are talking shit about me. Or trying to suck energy out of me. I stand up for myself.

You've been banned from the thread. The guy simply asked if you were gone, which he thought you were unofficially. I made it official.

And a note for the others, carry on but please refrain from mentioning the thread-banned user any further.

Thank you.

 

[CarrieW]

Thank you Mj!!! I didn't even have to report it!

 

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[TennisOrDie]

omg for real? please stop. the sentiment of the post is that you were/are aggravating people. just as I thought... sorry you misunderstood that for invitation to come back and start more shit. it really wasn't an invitation. I will start reporting you. I didn't want to have to go all I am gonna tell on you but I am so stop or I will.

back to the POINT OF THE THREAD I don't use the news in the sense of trading news. I just look to the overall outlooks on whats been announced and articles that are posted on currencies. I have systems for news trading but I am not trading like that right now.

what made you stop from placing the other trades you identified?

The first oval, I wasn't awake for. Gotta start waking up at 7 because most of the moves come in the morning.
The second one, I tried to trade as you can see, but I got stopped out and didn't re enter.
The last one, I missed because I decided to stop trading for the day after my horrible second trade. I had to write a paper and study for a final I have tomorrow.

Some days you win, some days you learn. Today I learned. ha

After tomorrow I will be on summer vacation so I'll be able to trade every day.

You should definitely check out bigmiketrading.com if you're looking to talk to traders. You want to surround yourself with people that are successful in whatever you want to become successful at. You want to pick at their brains. You want to know how they think and act.

 

[CarrieW]

I am still doing school with my kids and we are buying a house. (we have been under contract since march 8th its a hud house grrr) If I want to learn about something I usually do a google search and check out forums with threads on the topic. very rarely am I impressed with anything I find lol

I will check that forum out when I get some time I will let you know what I think. any threads you can recommend?

 

[TennisOrDie]

I am still doing school with my kids and we are buying a house. (we have been under contract since march 8th its a hud house grrr) If I want to learn about something I usually do a google search and check out forums with threads on the topic. very rarely am I impressed with anything I find lol

I will check that forum out when I get some time I will let you know what I think. any threads you can recommend?

Check out the psychology and money management section then look at the threads with the most views. You'll start to realize that successful trading has a lot less to do with your method and more to do with battling yourself. Most of the mistakes you'll make in trading will be because of your emotions. That's why it's extremely important to go over your trades and mark the trades you should have taken each day so you know exactly what you're doing right/wrong and what you need to be doing. Then by going over your journal you'll start to find common repeating errors that are unique to you that you must fix.

Like MJ talks about entrepreneurship, successful traders talk about trading. It's a journey of self development that is just looking through the lens of a business. If you want to be successful, start looking within and working on yourself instead of looking outside for answers.

 

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[CarrieW]

After we move and summer starts we will be on a new schedule. I am going to incorporate some daily study time. (beyond the current articles I read daily) I have been feeling the urge I just can't carve out the time!

 

[TennisOrDie]

After we move and summer starts we will be on a new schedule. I am going to incorporate some daily study time. (beyond the current articles I read daily) I have been feeling the urge I just can't carve out the time!

Have you tried using charting software like ThinkorSwim or Ninjatrader? It really does make a difference

 

[CarrieW]

Nope not a clue what they do lol. Fill me in

 

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[TennisOrDie]

Nope not a clue what they do lol. Fill me in

Well it just depicts price action much more clearly than any chart you'll find online. You can draw trend lines, channel lines, horizontal lines and add indicators. With ninjatrader I'm also able to use ATM strategies that basically put my stop loss and target orders in for me automatically so that all I have to do is manage the trade. I can also trade directly from my chart so I'm not fumbling with different screens and pressing a bunch of different buttons.

If you're really considering making a living from trading you definitely need some sort of charting software. Price does not lie. Price knows every bit of news in the world and exactly how important that news is.

Start by using thinkorswim. It's free if you just open an account with TD Ameritrade.

I attached a picture of Thinkorswim with trendlines and an indicator on the bottom.

 

[CarrieW]

They have spot forex?

 

[TennisOrDie]

They have spot forex?

I believe so. If not you can always start trading the futures contracts of the currencies.

 

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[CarrieW]

Idk if I could just switch that easily. I do want to check out a platform for commodities and stocks though

 

[CarrieW]

I think my trades are going to get worse before it gets better... Lol

 

[CarrieW]

And so it goes lol ouchie

 

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[obrian]

No currency pair is going to move 2000 pips in one direction each month. To get 2000 pips a day you would need to average 100 per trading day. A close to impossible goal. So it contradicts you original "long term approach" because to get this kind of return would mean multiple long/short entries per day across several pairs.

2000 pips for 15 minutes work ? that would equate to about $20,000 per month trading 1 standard lot ?

You obviously haven't looked at actual volatility in the FX market.

i remember i was trading the gpb/usd and i forgot to put in the stoploss and you know what happened in a minute that thing spiked up to over 2000 pips man i almost lost my account man it almost messed up my whole psychology man and i learned that you must always have a stop loss because you may never when those big guys are gonna jump in and take control.i was so shocked man i couldn't believe it things like those happens once every year or possibly every month i think but that was a major lesson.

 

[daivey]

[deleted, sorry i didn't see mjs repsonse.

 

[obrian]

i think the reason why most traders fail is because they take trading as this rich quick thing, trading is a journey like any other endeavour in life it's not a destination where you are going to make 100's of thousands of dollars a day and you are gonna buy that rolls royce and have that big house on the hill. i was apart of that also because when i started trading i was thinking about how much money i am going make and what i am going to do with it when i have it. which to my point of view is the wrong approach a person could take i am gradually learning and tweaking my system. because success is a journey, not a destination you fail today and win tommorow that's just how it is and alot of persons tend to over look this and when they fail they started to talk negative stuffs like,it's a scam and all sort of negative things to discourage other persons to even try.

 

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[daivey]

deleted saw mjs post after i posted!

 

[CarrieW]

When something moves 2000 pips in a minute your stop losses are likely not going to help lol. The brokers blow thru stops without triggering enough that your never truly safe. Sure you can appeal easier when they blow through it but you don't always win.

 

[willymo]

4 trades this week: 2 losses, 1 small 25 pip win, and this one that I still have open.

 

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[M&A]

i think the reason why most traders fail is because they take trading as this rich quick thing, trading is a journey like any other endeavour in life it's not a destination where you are going to make 100's of thousands of dollars a day and you are gonna buy that rolls royce and have that big house on the hill. i was apart of that also because when i started trading i was thinking about how much money i am going make and what i am going to do with it when i have it. which to my point of view is the wrong approach a person could take i am gradually learning and tweaking my system. because success is a journey, not a destination you fail today and win tommorow that's just how it is and alot of persons tend to over look this and when they fail they started to talk negative stuffs like,it's a scam and all sort of negative things to discourage other persons to even try.

The biggest reason people fail in trading is because they lack an edge, they chase trades with little probability and employ their "risk management" thinking all will be well.

 

[loop101]

These stories irritate me

http://news.forexlive.com/!/traders-pissed-off-as-coeure-ecb-speech-delivered-in-private-20150519

"A speech from ECB Governing Council member Benoit Coeure hit the newswires today and sent the euro more than 1.5% lower but an audience in London had them a day earlier."

 

[CarrieW]

What? That some people had info before everyone else?

 

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[RenEnergy]

These stories irritate me

http://news.forexlive.com/!/traders-pissed-off-as-coeure-ecb-speech-delivered-in-private-20150519

"A speech from ECB Governing Council member Benoit Coeure hit the newswires today and sent the euro more than 1.5% lower but an audience in London had them a day earlier."

Yes, this is true. Europe does not have the same INSIDERS trading laws that we do. But Forex and particularly Europe still looks strong for the coming week.

 

[loop101]

What? That some people had info before everyone else?

Yes.

 

[CarrieW]

It always happens. You just don't always get the following news report

 

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[CarrieW]

What a difference a week makes still negative but so much better than I was lol

 

[CarrieW]

Still dropping... Keep going guys! So glad I did not take the losses. Hopefully they go into profit soon!