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Forex daytrading:an honest attempt
- Thread starter TGpop
- Start date
Forex trading like any other occupation requires time to master.
Mikasa may be right regarding how long it can take for you but may be wrong.
It all depends upon you. I myself started trading Forex about 2 years ago and I can say I have reached professional level. Professional beginner level I would say. Then it is intermediate and then it is a master. Hopefully with the kind of progress I am making it is another year to get to another level.
But I have been trading and otherwise following the market 12-15 hours daily for the past 2 years.
I am posting my progress and my trades are all available to see for everyone on another blog and I have online journal. It has been very helpful for me.
Mikasa probably uses some kind of market efficiencies and he is right to keep it to himself, but I decided to always trade the basic price action and support/ resistance along with trend and momentum. It is what has existed always and nothing can change it.
I trade only when I see what I want to see and ignore the rest.
This is what I call my edge. Patience, plan and cutting my losses when I am wrong.
Mikasa may be right regarding how long it can take for you but may be wrong.
It all depends upon you. I myself started trading Forex about 2 years ago and I can say I have reached professional level. Professional beginner level I would say. Then it is intermediate and then it is a master. Hopefully with the kind of progress I am making it is another year to get to another level.
But I have been trading and otherwise following the market 12-15 hours daily for the past 2 years.
I am posting my progress and my trades are all available to see for everyone on another blog and I have online journal. It has been very helpful for me.
Mikasa probably uses some kind of market efficiencies and he is right to keep it to himself, but I decided to always trade the basic price action and support/ resistance along with trend and momentum. It is what has existed always and nothing can change it.
I trade only when I see what I want to see and ignore the rest.
This is what I call my edge. Patience, plan and cutting my losses when I am wrong.
Quote from shiko2000:
James16 is trading price action, not some kind of market inefficiency.
He us trading something that never changes.
It is when someone finds market efficiency it is not going to last.
Price action and S/R levels work always.
absolute bullsh!t.
never changes? which market are you trading?
S/R always , ALWAYS works?
why is it then that i've had great success by shorting support and buying resistance? what happens if , and this is probably unlikely, a huge IB realises that above pin bars people will put stops?
not trying to degrade price action as a method but nothing works forever in this market, maybe if you're making markets, but bar setups, things like that will erode away eventually....
imo
you read that price action always works, and believed it.
i should add that our methods seem similar, i am a trend trader, i don't use pullbacks to S/R in particular but just good pullbacks, i start small and pyramid , scale out and back in and adjust my stop , trading with the trend, for now imo, is one of the best ways to trade, but it's possible the forex goes into a 10 year chop, in which case i'd have to adapt.....
i'd like to have enough capital to swing trade and maybe day trade stocks one day, as i feel i have a few edges which more money could make accessible
i'd like to have enough capital to swing trade and maybe day trade stocks one day, as i feel i have a few edges which more money could make accessible
Quote from TGpop:
absolute bullsh!t.
never changes? which market are you trading?
S/R always , ALWAYS works?
why is it then that i've had great success by shorting support and buying resistance? what happens if , and this is probably unlikely, a huge IB realises that above pin bars people will put stops?
not trying to degrade price action as a method but nothing works forever in this market, maybe if you're making markets, but bar setups, things like that will erode away eventually....
imo
you read that price action always works, and believed it.
Keep "BS" and other "niceties" out of serious discussions.
Market changes and it is up to you to decide what you are doing with price action, whether to fade or go for breakout.
James16 will always make money despite other people using his pin bars and other set ups because he uses price action and set ups differently as market changes.
There is support and resistance and there is price action and it is you. You watch all these ingredients and decide what you are going to do with them. In one market condition you go for break out,, in another you fade, yet in another you stay flat.