Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Recommended Posts

Hi,

 

The Day started, you sit and watch your stocks/indexes and wait for a trade to evolve, sometimes you need to wait for a while, do you have any plan what to do in this time?

 

In the past I used to sit in front of the screens all day long doing nothing waiting for the trade to evolve and watching price action most of the time getting frustrated as everything worked beside my stocks, everything look tradable to me and it won’t be a lie to say that I was drawn to many trades that I should never take,

 

Taking setups that are not yours or are not ready yet is a very common problem in the day trading world, to sit and do nothing ain’t easy I already talked about it more than once,

 

What I do? I like to check my stock list every 30 minutes I open the system at 10:00 checking what is working what not, I ask myself what I can trade and what not, what I would like to see before looking for a trigger, and then wait till 10:30, at this time I check again the list and see if I have anything I can trade build an entry trigger, if I do, I will build a trigger and wait for it, else will set specific points to each stocks, for example: XYZ should make new high before looking for entry trigger, I will place notification on the system for new high, and move on, after I done all the list I will hide system and will make some work,

 

What is work? I will check the graphs of y’day, I will read blogs, I will develop my trading ideas, work on algos, read a book, watch a recorded webinar, I will practice trading, there is a lot of things one can do while waiting, what will help: make the list of task the day before or at the weekend a list of task for the next week,

 

Don’t sit and watch, don’t be a passive trader fill your trading time with productive work so you won’t trade for the sake of trade NO, this will save you many bad trades, the ones that when you summarize your day/week/month you have no idea how you end up in them,

 

If you will fill your trading day with interesting productive work you will become a profitable and more professional trader.

 

Make the odds in your favor Day Trade

 

Eldad Nahmany

 

#tobecomeadaytrader

Share this post


Link to post
Share on other sites
In Forex you have to keep patience for earning money. Most of the time the market does not go the way you want or expected. And especially when your pair is at loss! All the more you have to wait!!

 

Yeah and 99% of newbies run out of steam grabbing pip by pip they want more and get it now. That's the main psychological drawback that hold them back from winning path. Thankfully I managed to cope with that weakness and now trade consistently in profit with Hotforex

Share this post


Link to post
Share on other sites

as long as you understand the parameters of waiting, imean you might be waiting for something that wont come, its the balance thats hard to find, but i say its always better to wait than rush it. and best of luck

Share this post


Link to post
Share on other sites

Wait? Wait for what? Look at the OP. He was not asking about whether to wait or not. He was exploring what’s best thing to do while waiting. Now we’ve waited two years to try to help him and anyone with similar issue through generalities and pablam?

 

Wait? You got to explore your own nature and answer that question for yourself. Are you someone who would thrive better waiting for fat pitches? Or are you someone who is better suited to swinging at anything that looks good - for a microsecond. No matter which - you better be playing to your strengths. If waiting is your game, then wait. If not waiting is your game, don’t wait.

 

Don’t know your self well enough to know what your game is yet? Well, that’s a good starting place. Fail forward as fast as possible. :) No - wait! :rofl:

 

OMG peeps. Waiting or not waiting is system dependent. So, imo, generalized yes or no answers to this question are stupid. For your system(s), you have to learn when to wait and when not to wait... “to everything, turn turn turn, there is a season...”

 

In trend trading you do wait often(er). You wait for trend change or resumption.

In acceleration trading (or in BO trading or even momentum trading) you better not frickn wait.

In channel trading you wait for excursions. Then you don’t wait.

Etc

Etc

Etc ...

 

If you’re a sensation and thinking based rules trader you wait more often. You wait for the rules crits to be met.

If you’re an intuitive trader, you never ‘wait’... no such thing as waiting or not waiting.

 

The voice of trading counsels beginners “its always better to wait than rush it.” I counsel the opposite.

Don’t wait ever!!!! Take small positions instead. You will learn what you need to learn much faster that way.

 

.... or - you can just wait ...:roll eyes: :wait" for more certainty...:rofl:

 

:missy: :doh: :helloooo: :rofl: :helloooo: :cool: :missy: :crap: :missy: :(;):rofl: :roll eyes: :helloooo: :missy: :doh:

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Similar Content

    • By jason.lee
      Does it mean that you are an expert just because you make a lot of profit? The amount of profit cannot be used to measure the value of a trader. Yes, you must be doing something right if you are making a frequent profit. However, that does not determine if you are an expert or not just by your profit. This is quite a common misunderstanding in the forex industry.
      Making a large profit is only one side of the forex market. Majority of forex traders tend to lose most of the time after they have experienced profit. But why?
      So many traders fall into a fantasy land where they make an endless amount of money at the beginning. Many beginner traders tend to gain profit at the start not knowing the importance of technical analysis of the market.
      The experts on the other hand who stayed became wealthy and stayed that way, continue gaining profit, are all knowledgeable when it comes to the basics. Experts have dialed many ways to control their minds to be set right to be a trader.
      Understanding of the market is a must know anyway. Expert traders wait patiently until the right opportunity comes. Opportunity comes to everyone.
      What differentiates the experts and the beginners is that experts know when the opportunity has come and knows to take advantage of it. Making profit by luck is possible, and yes luck is also very important. But can you profit with luck every time?
      How an expert trader is determined is not by how much the person gained, it’s about the precision and the frequency of results. Profit can’t be maintained by luck. It is maintained and is a result of precision and strategical execution. You shouldn’t worry because you’re not gaining any profit right now.
      You should be building your skill sets to be a better trader by experiencing many trading situations of losses and wins. If you invest in your time to improve, your results are guaranteed to increase more frequently and will become more stable.
  • Topics

  • Posts

    • TDUP ThredUp stock, watch for a top of range breakout above 2.94 at https://stockconsultant.com/?TDUP
    • TDUP ThredUp stock, watch for a top of range breakout above 2.94 at https://stockconsultant.com/?TDUP
    • NFLX Netflix stock watch, local support and resistance areas at 838.12 and 880.5 at https://stockconsultant.com/?NFLX
    • Date: 8th April 2025.   Markets Rebound Cautiously as US-China Tariff Tensions Deepen     Global markets staged a tentative recovery on Tuesday following a wave of volatility sparked by escalating trade tensions between the United States and China. The Asia-Pacific region showed signs of stability after a chaotic start to the week—though some pockets remained under pressure. Taiwan’s Taiex dropped 4.4%, dragged lower by losses in tech heavyweight TSMC. The world’s largest chipmaker fell another 4% on Tuesday and has now slumped 13.5% since April 2, when US President Donald Trump first unveiled what he called ‘Liberation Day’ tariffs.   However, broader sentiment across the region turned more positive, with several markets rebounding sharply after Monday’s dramatic sell-offs. Japan’s Nikkei 225 surged over 6% in early trading, rebounding from an 18-month low. South Korea’s Kospi rose marginally, and Australia’s ASX 200 gained 1.9%, driven by strength in mining stocks. Hong Kong’s Hang Seng rose 1.6%, though still far from recovering from Monday’s 13.2% crash—its worst day since the 1997 Asian financial crisis. China’s Shanghai Composite added 0.9%.   In Europe, DAX and FTSE 100 are up more than 1% in opening trade. EU Commission President von der Leyen repeated yesterday that the EU had offered reciprocal zero tariffs on manufactured goods previously and continues to stand by that offer. Others are also trying again to talk to Trump to get some sort of agreement that limits the impact.   Much of the rally appeared to be driven by dip-buying, as well as hopes that the intensifying trade war could still be defused through negotiations.   China Strikes Back: ‘We Will Fight to the End’   Tensions reached a boiling point after Trump threatened to impose an additional 50% tariff on all Chinese imports unless Beijing rolled back its retaliatory measures by April 8. ‘If China does not withdraw its 34% increase above their already long-term trading abuses by tomorrow... the United States will impose additional tariffs on China of 50%,’ Trump declared on social media.   If implemented, the new tariffs would bring total US duties on Chinese goods to a staggering 124%, factoring in the existing 20%, the 34% recently announced, and the proposed 50%.   In response, China’s Ministry of Commerce issued a stern warning, stating: ‘The US threat to escalate tariffs is a mistake on top of a mistake... If the US insists on its own way, China will fight to the end.’ The ministry also called for equal and respectful dialogue, though signs of compromise on either side remain scarce.   Beijing acted quickly to contain a market fallout. State funds intervened to support equities, and the People’s Bank of China set the yuan fixing at its weakest level since September 2023 to boost export competitiveness. Additionally, five-year interest rate swaps in China fell to their lowest levels since 2020, indicating potential for further monetary easing.   Trump Talks Tough on EU Too   Trump’s hardline approach extended beyond China. Speaking at a press conference, he rejected the European Union’s offer to eliminate tariffs on cars and industrial goods, accusing the bloc of ‘being very bad to us.’ He insisted that Europe would need to source its energy from the US, claiming the US could ‘knock off $350 billion in one week.’   The EU, meanwhile, backed away from a proposed 50% retaliatory tariff on American whiskey, opting instead for 25% duties on selected US goods in response to Trump’s steel and aluminium tariffs.     Volatile Wall Street Adds to the Drama   Wall Street experienced wild swings on Monday as investors processed the rapidly evolving trade conflict. The S&P 500 briefly fell 4.7% before rebounding 3.4%, nearly erasing its losses in what could have been its biggest one-day jump in years—if it had held. The Dow Jones Industrial Average sank by as much as 1,700 points early in the day but later climbed nearly 900 points before closing 349 points lower, down 0.9%. The Nasdaq ended up 0.1%.   The brief rally was fueled by a false rumour that Trump was considering a 90-day pause on tariffs—rumours that the White House quickly labelled ‘fake news.’ The market's sharp reaction underscored how desperate investors are for any sign that tensions might ease.   Oil Markets in Focus: Goldman Sachs Revises Forecasts   Crude prices also reflected the uncertainty, with US crude briefly dipping below $60 per barrel for the first time since 2021. As of early Tuesday, Brent crude was trading at $64.72, while WTI hovered around $61.26.   Goldman Sachs, in a note dated April 7, lowered its average price forecasts for Brent and WTI through 2025 and 2026, citing mounting recession risks and the potential for higher-than-expected supply from OPEC+.       Under a base-case scenario where the US avoids a recession and tariffs are reduced significantly before the April 9 implementation date, Goldman sees Brent at $62 per barrel and WTI at $58 by December 2025. These figures fall further to $55 and $51, respectively, by the end of 2026. This outlook also assumes moderate output increases from eight OPEC+ countries, with incremental boosts of 130,000–140,000 barrels per day in June and July.   However, should the US slip into a typical recession and OPEC production aligns with the bank’s baseline assumptions, Brent could retreat to $58 by the end of this year and to $50 by December 2026.   In a more bearish scenario involving a global GDP slowdown and no change to OPEC+ output levels, Brent prices might fall to $54 by year-end and $45 by late 2026. The most extreme projection—based on a simultaneous economic downturn and a full reversal of OPEC+ production cuts—would see Brent plunge to below $40 per barrel by the end of 2026.   Goldman noted that oil prices could outperform forecasts significantly if there was a dramatic shift in tariff policy and a surprise in global demand recovery.   Cautious Optimism, But Warnings Persist   With both Washington and Beijing showing no signs of backing down, markets are likely to remain volatile in the days ahead. Investors now turn their attention to upcoming trade meetings and policy decisions, hoping for clarity in what has become one of the most unpredictable trading environments in recent years.   Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Andria Pichidi HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • CVNA Carvana stock watch, rebound to 166.56 support area at https://stockconsultant.com/?CVNA
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.