xkr1962

This is an age old argument but I would take TA on a monthly and weekly chart over any crap most fundy analysts come out with. Get the bias from those high time frames trade the m15 using that bias.

I used to use the time to watch the priceaction closely in order to learn how to up my game. I am happy where I am at now so place the trades, generally off a 15 minute chart and walk away. Waiting for the perfect set-ups is where the discipline is really required IMHO.

The open, high, low and close are critical to my trading strategy. It is about belief and backtesting. Don't close your mind to any of them is my advice.

don't rush or get anxious about finding trades, let them come to you. One of the truest yet hardest thing I had to learn.

Plenty of trend trades using support and resistance about on the currencies. It is a fallacy that the markets are untradeable in the holiday periods. Trends work on all timeframes therefore what looks like a sideways market on h4 h1 etc in fact has loads of tradeable opps on m5. Happy trading in 2012 folks

Forget reading IMHO, find a method you like and just keep trying to trade it using strict rules of entry, exit and stoploss until you can do it in your sleep. Train yourself to trade like a machine, no emotions.

Keep it simple and after 10 - 20k hours of screentime you will crack it no problems at all. Practice makes perfect.

Haha, I like it, very good.

Learning to trade is about conditioning your brain, IMHO it cannot be rushed. I have been helping fellow traders for years now and some still say they learn new stuff about my method even after all that time. If you find someone to help you be prepared to give it years not months to sink in. Once you find a method you like, if it is set and forget, i.e you enter the trade, fix a stop and a have a fixed target then learn to trade that method like a machine, do it on a demo account that mirrors the size of your eventual live account. I suggest 2 or 3K. When you can double that demo account with fewer and fewer mistakes then consider moving to live. This may take six months or three years only you will know when you stop taking trades outside of your strict rules, you will know when you are ready. I did this and transition from demo to live was painless.

Yup, there is no such thing as a sideways or ranging market, trends work on the every timeframe, even m1 , learn to trade them instead / as well.

UNPAID, I beg to differ, the mentor I paid was priceless, the friends I spent years trying to learn with were worthless by comparison. Ever heard the expression the blind leading the blind, it fits well.

Yep agreed the problem is that people try to learn it all ass backwards, human nature I guess, do the easy most obvious things first, I made all the same mistakes myself. All I try to do now is make people avoid the same expensive and time wasting mistakes I made. No need.

If it works for you and you are profitable keep doing it. For novices who are still struggling I would definately stand by my advice to drop all indis, they are just a crutch and quite possibly an unnecessary distraction.

Dump all the indis and concentrate on bars and candles and you will move your progress into overdrive, I promise you. The indis are a product of price, not the other way around.

Well done, 8 of 10 winners is what I aim for, it can be done just stop listening to all the nay sayers and people that overcomplicate things.

This is a 2b reversal Here is a recent daily 2b on AUD then an internal h4 2b that we can use to re-enter the daily pattern and use the daily target it is clearer on the h1 chart and you can also see we had an additional entry higher up, still targeting the level from the daily chart. patterns within patterns, teach yourself what to look for and then learn to trade them here is the same thing from a year ago daily chart below and h4 chart below Keep it simple

Tough to understand what the hell you were trying to say TBH with you but if by "perceptual slants and proclivities" you meant an element of discretionary trading yes of course we will always have that to deal with. But to me the fact that the lower timeframes work in exactly the same way as all the other timeframes we can therefore use the lower timeframes to judge when to get in and out of the trades on the higher timeframes. Trends withing trends or patterns within patterns. And rest assured I have looked hard enough and do know what I am talking about.

The thing is that I have done my 10,000 hours at this, Twice now in fact, and I have proved to myself and now plenty of other traders that without a shadow of doubt what I say is true. It is fact, patterns worked then and they still do now.

Not arguing at all, I am just saying you are wrong, we have decades of data to look back at, patterns that worked back then are still working now.

If you haven't found the perfect repeatable setup then you just haven't looked hard enough.

Agreed, the sooner you dump, trading rooms, other peoples trades calls, signal services etc the sooner you will be able to concentrate on finding what works for you.

I trade in a very similar way to you indeed, I take my lead from the monthly, weekly and daily and then play the intraday moves keeping DD to the absolute minimum. To the thread starter, people will tell you multiple "safe" intraday trades cannot be done, don't believe them, pick your setups with care and you will be amazed.

As others have said here, you have to build a plan and trade it. It is a fallacy that small accounts cannot be traded for a sensible weekly / monthly living, you just have to learn how to trade them properly, by that I mean strict money and trade management along with a high probability way to trade the lower timeframes. $3k can easily be doubled in a month, trebled or quadrupled even and that is without compounding. Trends work on the m5 charts just as well as d1, learn to trade m5 and 2-10% a day on a 3k account is possible. Consider risking 5 or 10% per trade, it is no different than risking 0.5 or 1% on a 30K account except you will grow your account far quicker once you master short term trading. Treat the 3k demo account like real money, when you double it, close it and start again (pretend you are withdrawing profits from your broker) Do this using strict mm until you can do it like a machine for 6 - 12 months then consider going live. good luck

Haha, TL is kindergarten for traders.

The trend is your friend plan your trade and trade your plan let your winners run and kill losing trades quick Follow the biggest money (trend) Don't overtrade. I live and trade by all the above sayings Have a great day folks