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Ever heard that saying 'Beating a drum in search of a fugitive'? I got that from Alan Watts. My interpretation of it is that you never find the thing you are pursuing by being proactive and determined. One of the most important personal abilities required of trading is patience. A book can tell...

If anyone here made money during the formation of the bar then you can flex. Interpreting meaning from one single bar is...

Thanks gents. Sorry for the ultra noob questions.

0.009917808% per day against what number? Per contract amount (GC = $10 per tick)? That comes to 0.001

Would you mind helping me out with the calculation? Long one contract on gold futures. Base currency = GBP. Benchmark rate = 3.5% USD rate = 2.2% How would I calculate the overnight interest fees on that?

Background: I have recently moved to higher timeframe trading and margins and interest rates are now an important consideration in my world. I trade using Prorealtime platform through Interactive Brokers. The question: If you trade a financial instrument quoted in a currency that you do not...

Thanks for the reply Robert. So what is the time between 4:30 p.m. and 6:00 p.m. classified as? That is an hour and a half of nothingness that everyone just ignores?

When you see reports of the daily percentage change on the S&P500 mini , what are the open and close times? My trading platform calculates from midnight to midnight GMT but that is obviously not in line with what the actual time settings are. The CME Globex website states: Sunday - Friday 6:00...

Not sure I can get it any simpler than what I said above. Books. Have ever read a book and found yourself going back and re-reading passages? You are seeing words and your eyes are going back and forth across a page but your mind is thinking something else completely. Music. You can listen to...

He talks about immersing yourself in music to practice the concentration muscles. This is very true. You can also do this with audiobooks. At first, you will find your mind wandering but after a time you can focus on the content for long periods of time. I'm currently listening to the drunkard’s...

Yeah and that's precisely what I'm talking about. I am a motivated individual but in a disorganised way, its kind of a general malaise with me. The random nature of trading coupled with a fear of failure is a highly motivational force. An opposing motivation is the desire to achieve financial...

I came across an interesting concept that never occurred to me in all of my own introspections and it has to do with fear and motivation. Before getting to the meat of it I need to frame the concept with an explanation of rat behaviour which can be directly mapped to humans. Rats love to play...

What the hell are you even doing looking at a chart today lol. Tomorrow there is a chance for volatility but Im going to be leaving it until next week.

I think Musk tried automating his car manufacturing and ended up regretting that decision (could be wrong but I seem to remember reading that ). When the government stops allowing migrants, they lose easy votes. You possibly could replace workers but robots dont vote. Angry people sitting...

Thats a bloody stupid suggestion. Companies are not doing it for a reason. I presume the article doesnt only relate to abattoirs like you see in the images. Mechanical engineers, plumbers, electricians...good luck trying to automate those skills.

It doesn't take years. It takes common sense to understand the Wyckoff methodology. It really is not as complicated as you are trying to make it sound. Its a distraction technique because you have no confidence in your trading. Anyone selling this will purposely populate the chart with lofty...

Why would anyone pay money to be given information that is already freely available? Wyckoff resources and information is so abundant you could busy yourself for months learning the method without having to cough up a single cent to one of those con courses.

Once you have endured duels with insanity and stood firm against the chaos that resides in solitude, will you have earned the right to call yourself a trader.

About 3 years. I was already damaged goods when I started trading and things only got worse. So it was more out of necessity to get away from my twisted imagination. Life was one continuous panic attack and deep breathing brought some relief. I dont do it every day but most days. Just start...

People talk a lot about meditation. Majority of what I read I find questionable. Here is what works for me: 1. First comes breathing. Breath deeply and exhale deeply. do this for 30 in/out breaths maintaining a constant rhythm. When you have completed 30 breaths, breathe in and hold your breath...