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australiaian
Trying to become a full-time trader
in
General
Dec 26, 2012 at 04:24
Hi all, Thanks for all the great replies.I have been been very busy in the last two months outside of my trading, but have changed my views a lot in this time too. I have been focusing on (and realising the power of) understanding price action.I have also started a live account of which, over all, I have been slightly losing, but as @Geereg posted, you just have to learn how to swim. My plan for the year is to fund this account with 100AUD a week over the coming year and write this off as an educational expense.I've also changed my thinking as far as forex as an investment as well. Initia...
Trying to become a full-time trader
in
General
Oct 26, 2012 at 12:02
At the moment, I'm basically using demo accounts to learn about manual trading and to really get an idea for how the market moves. I'm looking to move to a real (but very small) account soon as I feel putting real money into the market makes you obviously think a lot different to if you are demo trading.I'm not very happy with my results so far, and I think this is mostly due not finding a system that really works for me. I'm using mostly weekly and daily pivot point lines on a MTF analysis and trying to spot opportunities using these. I don't believe too strongly in the p...
Manual Trading
in
Trading Systems
Oct 18, 2012 at 12:29
All my trades worked out pretty well yesterday, although while none of the trades I've done today have finished, I'm not happy at all with them. To be truthful with myself, I haven't seen one good opportunity today, and based on my good luck yesterday, I've gone 'searching' for opportunities which haven't really been there. I'm also quite tired tonight which means I'm not on the ball. In fact, I've placed 3 trades, two long and one short, all including USD as the traded currency meaning they're totally correlated. Not very smart. I've set the sto...
Manual Trading
in
Trading Systems
Oct 17, 2012 at 10:00
6) Learn to actively deal with the emotions of this beast! It appears that my 3 trades I've entered today are all going to come back winners (at the current time) and that fills me with hope that I'm actually getting somewhere in this Forex game. In an hours time, I may have lost two of these and be feeling terrible about losing another 1% on my 'imaginary' account. I really need to think more of Metatrader as a 'game' or poker machine and stop letting it affect my emotions. 7) Continue to focus solely on each trade as 1% risk to my account. I still don't understand...
Manual Trading
in
Trading Systems
Oct 17, 2012 at 09:57
At the moment, I'm basically using this account to learn about manual trading and to really get an idea for how the market moves. I'm looking to move to a real, but very small account soon as putting real money into the market makes you obviously think a lot different to if your demo trading.Not very happy with my results so far, and I think this is mostly due not finding a system that really works for me. I'm using mostly weekly and daily pivot point lines on a MTF analysis and trying to spot opportunities using these. I don't believe too strongly in the plethora of indicators...
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