[walterw]

Originally Posted by Reaver »

I am not a big fan of mentors/coaches, but that could be because I don't daytrade.

I may have a completely different outlook if I were a daytrader.

I stay in touch with a guy that has been trading for 30 years and bounce ideas and get advice, but nothing major.

Got me curious here Reaver.. Do you trade long term ? cheers Walter.

[Reaver]

Yeah, I guess long term is relative- but I trade for days up to weeks...but if I found something I liked, I'd go with it for months.

[walterw]

Interesting... How did this down move treated you ?

[Reaver]

If you're referring to the drop in the dow...I only trade forex right now but I am waiting for USD/JPY to get done retracing and maybe hop on board for a nice carry trade.

But other than that, I didn't have any issues, as I just happened to have closed out of a GBP/USD and CAD/JPY position a day or so before the fall. I was blissfully unaware of the impending down move though....Just rang the register based on profit/momentum slowdown.

[walterw]

Oh Ok... so you are a forex trader... thats nice, I am trying to figure a way on this markets... are you planning to share some of your methods here on TL ? would be interesting to learn something new here... cheers Walter.

[Reaver]

My method is very simple and very discretionary. Hard to share really.....

Probably too boring for most people. Let me get a little more solid with my knowledge and I will try to help anyone here as much as I can.

I believe the key to forex is longer term.

[walterw]

Originally Posted by Reaver »

My method is very simple and very discretionary. Hard to share really.....

Probably too boring for most people. Let me get a little more solid with my knowledge and I will try to help anyone here as much as I can.

I believe the key to forex is longer term.

No problem Reaver, if its boring normally is good... feel free whenever you feel confortable to open a thread about your method, it will be very nice to hear from... cheers Walter.

[Reaver]

Yeah no worries there Walter....I just don't want to seem like I am on a high horse by telling people how I trade.......I am very confident in my knowledge and what I do.....

But

I don't want anyone to assume the inherent risks in my method that I am comfortable assuming, as everyone has different tolerances. Being discretionary, it is hard to actually quantify what the set ups and exits are, as each trade is treated differently....Understand ing the method (which is simple) is merely one part of it....the most important part is understanding what I am willing to lose and making constant decisions as part of the total approach to trading.

I will help out as much as I can though.