Overtrading

[KENNETH LEE]

It sounds as most of you are like everyone else trying to learn and work fulltime. It is diffucult at best to do. If you are a morning person wake wide awake instantlly as I do. Get up at 1:30 am eastern. Trade the open of europe then go back to bed. or

Switch to a 4 hr strategy and do your technical anylsyis in the evening that is the end of a 4 hr candle anyway and all movement for the day is done. The same signals applly but they or more likelly to be right. Less Nussiance noise.

anyway you do it, still takes some screen time... Gread Trading..

[Avion]

Yeah i work fulltime, London open is at my time at 9 am, so i still trade short term, and i look charts from daily to 15 min, well i enter on 15min sometimes on 5min, but i always take a look at higher timeframes, just to have a bigger picture, well i basically trade just breakouts, and sometimes continuation trades, but with less risk, smaller position... Im taking this trading as newbie just for learnin, watchin for mistakes, analyzing them, and so on, and being disciplined.

[edacsac]

Originally Posted by Avion

I know, i just wanted to say, that you have the wrong approach, didn't mean anything bad,...

Sorry Avion, wasn't sure what you meant. When I reply at work, I sometimes don't read things quite completely.

I think for some of us who jump into forex without any prior trading background, our initial perception of how trading is going to be is quite different then what we learn it really is. So we unsuccessfully force the market to fit ourselves and our initial emotions. I think I'm making it to the next stage after watching and learning for a few weeks.

[Avion]

Originally Posted by edacsac

I think for some of us who jump into forex without any prior trading background, our initial perception of how trading is going to be is quite different then what we learn it really is.

Hmm, Babypips talk about that also at school, but few ppl takes it serious, you really have to try for yourself to bealive, many ppl believe: "if i can just get the system, then there isnt no obsticle for me"... nooo, i dont think so..But system is, if you ask me just like 20% max of all your trading. i think biggest things are MoneyManagment, Discipline, Psychology(big one, at least for me),...
If you went thru all babypips school, then you have all the ingridients, you just have to mix them right, and stil learn and learn and learn.. Well, just my opinion

[Avion]

Originally Posted by pipish

This is good stuff guys. It seems to me that if we start with a good foundation, all we have to do is weed out our faults and we might just make some pips!

thanks all.

Yep, noticin your own problems can get you far, if youre able to fix them

[IDR]

If I may suggest, read the following books:

Trading in the Zone, by Mark Douglas
Trade Your Way to Financial Freedom, by Van K. Tharp
Emotion Free Trading, by Larry Levin
Psycho-Cybernetics, by Dr. Maxwell Maltz

I've been through all your problems and these books help me to overcome them.

[Avion]

i also liked Johns Piper book, i thin it is: The way to trade