GoodPunk6's Trading Journal

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Goodpunk - You put a lot of effort. I am sure you will become eventually a good trader. It might take a lot of time. However, from what I read, if you decide to trade full-time in the future, you might want to avoid this firm again. Trading LU is in my opinion a waste of time. Why trying to scalp for a penny, when you can have the trend working for you. Keep the positive attitude and do more research as far as prop firms.
 
Hey guys!

It's been a while so let me fill you in. I hate my job. There......that's it.

Ok, so I've decided to get my feet wet and swing trade while I'm working. I have finally decided that I'm not going to swing equities but rather I'll be swing trading forex. I just feel better being able to open an account with less money than other places.

Here's my dilemma......I don't have a strategy. I need help developing one. Should I concentrate on Gartley patterns? Or something else. Anybody got any clues?
 
GoodPunk,

Maybe you should reconsider trading Forex, there have been too many posts about Forex brokers running stops through faulty price feeds... unless you plan to use manual stops it might effect your strategy.

-Neo

Quote from GoodPunk6:

Hey guys!

It's been a while so let me fill you in. I hate my job. There......that's it.

Ok, so I've decided to get my feet wet and swing trade while I'm working. I have finally decided that I'm not going to swing equities but rather I'll be swing trading forex. I just feel better being able to open an account with less money than other places.

Here's my dilemma......I don't have a strategy. I need help developing one. Should I concentrate on Gartley patterns? Or something else. Anybody got any clues?
More...
 
Goodpunk,
I suggest you open an account with interactivebrokers.com

You can trade almost anything,

trade forex, equities, whatever you like :)

I personally prefer futures, more dependable, I love my pet NQ
:D
 
thanks for the good advice guys. But I was hoping someone could help me with a strategy. So for people who trade forex, what is it that gives you an edge?
 
Goodpunk,

To give you some information, I read a book on top traders on FOREX

most of the BIG boys were not trading using S/R basic resistance points etc. they were trading using economical inside knowledge where they call up desks and all kinds of people to get inside info.

but for small traders, I Think you can use the usual support/ resistance/ money management type thing.
 
Quote from GoodPunk6:

thanks for the good advice guys. But I was hoping someone could help me with a strategy. So for people who trade forex, what is it that gives you an edge?
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Realize that its like asking someone that runs a sucessful business to post how they make a living.. lol
 
Quote from Trend Fader:

Realize that its like asking someone that runs a sucessful business to post how they make a living.. lol
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True....but I was hoping someone like yourself would point me in the right direction.
 
Quote from GoodPunk6:

True....but I was hoping someone like yourself would point me in the right direction.
More...

Honestly... trading forex for a newbie is taking on a difficult challenge.

The advantage to currencies is that they tend to trend the best... so a longer term trend system might make sense. Means you might have to hold positions for months.


--MIKE
 
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