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Everything posted by Fxtrader06

  1. Thats pretty impressive for just 6 months of live trading. What do you currently trade Warren?
  2. I am not too sure about Forex but I know a few traders who use Market Profile in trading currency futures. Perhaps you can look into currency futures instead?
  3. Professional trader doesnt sound too good. Maybe be more specific like "professional equities trader", Do traders qualify as financial advisors?
  4. You can use a combination of indicators or look for divergences.
  5. They are both a game of probabilities and discipline. In my opinion, a good poker player can transform himself into a good trader alot easier than a bad poker player. He has the basics done in terms of the mental aspect of the game.
  6. My favorite: "The battle is won before it is fought." Sun Tzu
  7. I personally trade use a 20, 100, and 200 moving average on a 5 minute chart. The best set is to use a shorter MA combined with a longer MA. If price is above both moving average's look for a long setup. If price is trading below both moving average's look for a short setup. Try experimenting with it first. You will find ones that you will like.
  8. Perhaps use a trading system? Plus you need to open up your views. By convincing yourself that the futures markets are hard and impossible to trade, you will never be able to trade successfully. Your beliefs limits your ability.
  9. The only information I look for in the RSI is divergence as well.
  10. I wanted to discuss an area where I am struggling psychologically. I consider myself to be fairly discipline when following my rules for my trading setups. However, I have a tendency to cut my winners a little too early. I identify key support and resistance levels prior the the open. When prices are test these areas, I have a tendency to exit my position. Sometimes this is the correct move, sometimes prices will break the line of support/resistance and I leave alot of money which I should of made. This is one rule I keep breaking over and over. Do you think it has something to do with my internal beliefs on money? Or is it a lack of discpline?
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