Yes indeed, a shorter time-frame chart will throw up more opportunities per week than a longer one. But getting a signal and getting a profit don't follow automatically. I still think the overall system dictates how you spend your day/week and what tools you use to make money.
beating the banks
- Thread starter cole_
- Start date
Yes indeed, a shorter time-frame chart will throw up more opportunities per week than a longer one. But getting a signal and getting a profit don't follow automatically. I still think the overall system dictates how you spend your day/week and what tools you use to make money.
there is absolutely no reason for you to be so fearful of the banks.
Banks are there so that they can earn money.
At the same time, they also give us the opportunity to earn money.
And this is something you have to learn how to profit from it.
Either you focus on fundamental, or technical or combination and profit from the market.
They are not like you.
They have an informational advantage, a better uderstanding of what they are doing, lower trading costs, better execution, more money, etc
Why are you already predisposed to trading off of 4 hour charts?
It would help if you personally knew someone trading the market you hope to trade.... or if you personally knew any trader making a living trading any market. Please reread this paragraph.
You sound sincere and I wish you the best.
There's a widespread misunderstanding that "the banks" move the fx markets. In fact, the banks -- even the heavyweights -- are very reluctant to warehouse risk. As soon as a buyside client puts a bank into a position, the bank is looking to exhaust it. Generally, banks hold positions for only a few seconds these days.
Here's a paradox, don't take random trading advice from random people on the internet, but here's my advice xD It took me over 10 yrs to get profitable. It would have been much quicker if I had the privilege of a mentor. The single piece of advice I can give you is this. Learn to code and back test trading systems. You will hear all sorts of "advice", magical indicators and "holy grail" systems. The internet is rife with it. The only way to sort out the gems from the garbage(usually 99.5%) is to be able to back-test the ideas you come across and refine the ideas that work. This will keep you safe money wise, from the trading "gurus", "advice", and the multitude of trading system books and forum trading "strategy" garbage that abound. That being said, the forums/internet are great for generating trading ideas which you can then test and refine/scrap as the case may be. Best of luck to you.
One to watch Bro - I think that even you would agree with this fine example of a trade set up---- Eurusd Pair Spot Price 1.2309 Support Level is allocated at 1.2150 as of this morning. High Mark & Close Bar is Expected at 1.3586 or thereabouts give or take a few pips of overbought value. - Rates looks Good to Go - At Buying into the Trend - Use below Low Bar & Support Level at 1.2150 as stoploss placement once the Price has Move On. - As Added Note: To Advanced Traders - There are 2 Resistance Levels to watch out for these are at 1.2552 & 1.3041. - This is A Breakout Trend High form the Current Low at 1..2150. So should prove to be A very simple Uptrend Phase without any complications. --- Market Commentary provided by A Market Theorist. - Please plot out the relevant Support Level or Resistance Levels as mentioned I think that you will find that this set-up will work for yer you have plenty of time.
Some help with timing the Market is provided above for you present attention : please make use of it to further you education within the Forex Market - You may find it pleasantibility interesting ?