There is a wallstreet saying “If you can sleep overnight there is probably something wrong.” In part it must be true.
Well, in that case if you cannot runaway from your tasks maybe you should consider swing or position trading. Swing can be exhausting too.
Position trading it is very easy, just find a trend and follow it until it ends, you can have a risk reward of 1:n. Normally a position trader seeks for no less than 500 pips and the position can be open for months. You can have maybe upto 5 loses before having a great entry and the closing can be if you are lucky 10 times the risk level.
The bad news is you must trail stop propperly and restrain yourself of closing too early and be patient. In other words you must do the opposite as newbies, leave the position open but in the positive side and letting the profits run infinitely.
Regards.
ah yes after starting forex i cannot sleep any longer throughout the night, maybe on the weekends when the market is closed but not during the week i never get alot of sleep anymore like i used to
Well, if you use propper money and risk management you should sleep a little better.
i cannot i want to get rich quick it is impossible to get rich quickly using proper risk and money management, i have to lose sleep to get richer quicker
You can read, you are not blind, entry point is not so important, we as newbies we are so worried of making money that we seek for any trading opportunity and as the years goes by we fool ouselves that we are analising the market but we realy are looking for any excuse for pulling the trigger.
Your priority must be this:
- Analise youserl before anything.
- Having an exit strategy, under what conditions you will get out, having a fixed risk reward ratio works.
- Analise the market how you see not how you wanna see it, this one takes years to develop, so if you are losing and losing but following your system, don’t worry, the situation will change eventually, whet it changes just don’t ruin it, don’t get too confident.
- Once done all mentioned just pull the trigger and wait for the exit conditions to show up, pulling the trigger is just one simple act that has nothing to do with the analisis, is just your vote of confidense, nothing more. You must analise the oportunities first and decide to trade second.
Just that easy.
Regards.
You are done, sorry.
that is true my big trades that i have lost were because i entered the market just to be in position because of boredom or no patience to wait for right entry
good way is to wait for the right moment even if it takes days don’t make something that is not there because that is how i lost all my bad trades.
never get into a trade that is not ready for make the money.
Got to agree forex trading is about patience i have learnt alot especially not to trade when tired
Or in the right state of mind, i just watch the charts and do researxh instead 
We all want to be rich but a few pips at a time, once ur good u can scale uo the trading but not before!!!
Follow mr gones advice! I have and my accuracy has improved alot as well as makong me think of alot of other things.
Pardon my poor grammerand spelling really tired and typing on iphone time for bed!!
Know ur limits and strengths and only play to ur strengths! Thats what i do!
My typing sucks even when i am not about to sleep. :30:
When I started trading my nights became sleepless. Right now I use predominantly scalping technique because there is no long opened orders in it. So I can sleep.Sometimes:20:
Interesting, for me scalping and hourly trades are good, im not yoo fond of trades running overnight, i could not sleep properly an i dont think it would do my health too good in the long term, day trading is for me if i get time lol
Traders sleep like babies, they wake up every hour and cry. :56:
Lol does sound me when i was experimenting with over night trading. No sleep and irritated when it bad equals less sleep!!
Was in demo so not too bad but still irritating!
Hi, Regarding the issue, I would like to suggest the study of a very interesting field of Finance called [U]Behavioral Finance[/U]. In general BF describes some heuristics that are employed when making judgments under uncertainty.
Some of the top heuristics are: representativeness, availability, anchoring and adjustment, affect, Availability, Similarity.
The understanding of human psychology would help us to better handling of some of our weaknesses.
Just saying.
Never heard of that, i’ll check about it. Thanks.
Yes all what you have said just relates to one thing and that is the Human Nature.
Before i even analise market i do a self analisis and befrore that i do a little meditation. ANyway sometimes we are ok and sometimes we think we are ok. It is hard to know the difference. Anyway, one simple thing helps me to know about it but obviously it is not the only thing to watch for; when i write down on my diary, if my writing looks good i might be ok, but when it does not look good it means my musces are tense and i cannot focus. Just that easy, obviously i must do an overall analisys on myself but that is a start.
The logic behind it is i use a fontain pen to write and it is much easier to write with that because i don’t have to push agains the paper and my hand does not aches as when i write with a rollerpen and if i cannot write with a fontain pen it means something is not OK.
Little things like this helps you to avoid a disaster.
Regards.
In any activity if you want money you have to go out and seek for it. Here not. You must not do that, money will come alone an unwanted. That is the irony of trading.
We’ve been told that we must have an objective, a realistic one non money based. Earning a million might not be one, it is just a dream fro retailers, doubling the account in one year sounds better but still not good enough. Anyway i did not came up with a real objective, quiting my job is not a good objective neither, it cannot be on a negative feeling. Create e life for myself is a goodone but still a little subjective. So today i came across this idea, to create my own fund, i mean people trading for me with my money. Yeah, sounds imposible but sounds better than earning a million. However there are a lot of thing to do. For the moment i am making a list of things i need and i want, since put my room in order (wich is a mess), buying a new phone, add one more pair to my portfolio and so on. However i must put in order this objectives from the easiest one to the less easy one and try to match wich fits with who and how i will get it. Tomorrow i’ll bring you the results, anyway, putting my room in order can be done, buying a new cell phone well, that one it is a little harder and non trading related as increasing my trade account.
If you don’t have an objective you just will chasing trades hoping that enough practice will bring you some gains.
Regards.