I have studied forex for months and looked at charts for months and I’ve tried finding trend direction for months and I just never learn… I think I’m getting close to be able to start trading… but I will never be able to start because I can’t find the trend… It’s so hard and drives me crazy!
I draw fibs/s&r/trend lines… on 1h - 4h - daily… trying to find trend for day/swing trading.
But it always comes to this…
I see retracement and look for support… It hits support and reacts around it for a bit… maybe start heading up again with trend… so you might think retracement is over and time to go long again. Then it goes down again and goes past a second support and hits a third support that it reacts to… so lets try again… retracement over? Or is it beginning of reversal? Will it maybe rally up and create a lower low to start down trend? Or maybe this uptrend is just a retracement of a downtrend on weekly? Or is it entering consolidation?
Argh I give up!
Let’s go look what other people think… go to forum… blogs… articles… etc…
50% of everyone show analyze saying down… 50% say it’s up… great… like I wasn’t confused enough already.
I have been studying really long time and it just feels like I never make any progress understanding this
Please save me!
Oh, my friend, please do not give up! Your case was exactly like my self 5 years ago. Do you know how long it took my before I went to live account and be a profitable trader? 5 years with studying of 5-7 hours/day 6 days/week. You will be there, someday, I don’t know but you’ll there. I mean, somebody get there 6 months, 1 year, 2years. And for me 5 years of studying and demo for almost 20 months. I hope I can cheer you up.
Maybe you just need to find indicators that best fit your vision of forex. Being a trader is not easy, takes time and patience… don’t give up and continue to study, never abandon the commitment, be steadfast… you will see that positive results will come.
Good luck guy
Argh I give up!
Let’s go look what other people think… go to forum… blogs… articles… etc…
50% of everyone show analyze saying down… 50% say it’s up… great… like I wasn’t confused enough already.
That is what makes FOREX so unique, you have the bulls and the bears continualy wresteling with one another.
I agree with fedegmail. I personaly believe every person as a unique vision for the FX market, find the indicator/s that complement that vision and there is your winning strategy. How long will it take to develop this vision into a winning strategy?.. Well that depends on the trader like nevergiveupss has mentioned.
I am not a successfull trader as yet, and only now after 3 years plus am i starting to see things I didnt once see before. My attitude is “I will make this work for me no matter what” but then again I enjoy looking at colourfull candles going up & down making different patterns doing so :22:
If I had to start all over again I honestly dont think id do it. Trying to find what works and what doesnt work take time, and
too much time if you ask me.
What are countries concerns? Japan doesnt want a strong currency, it affects its exports ect ect
So at a certain PRICE, they have to do something about it. THEY dont care what the RSI, STOCH, MACD ect is at, ONLY
PRICE
You are not trading with the trend… you are looking for a top or bottom
check your own words in bold: “It hits support and reacts around it for a bit…” that “bit” is your profit, the only thing you have to do is pinpoint a level where price rebounds in a trend
study S/R, PA, volatility and trendlines… you need no more
I will be the first to say I don’t believe in trends, price moves to size. That movement between the distance that is 1 way is what people interpret as a trend. Now price being fractal every thing can be a trend, what trend are you looking at, what time frame. I am sure someone will be able to come up with a trend going in the opposite direction on a different time frame. Another point, don’t listen to anyone else. I personally am what people would consider a counter trend trader, i buy into breaks and sell into rallies. It works for me and I understand it conceptually. Trust me people thrash me on these forums and threads all the time because they are trend traders and that’s what works for them. Take all the tools you have learned about and try to construct a system that works for you. maybe that development and custom fitting will be what you need.
There are thousands of ways to make a pip, but if your not interested in it, you wont enjoy it, you’ll look at it as more of a task… We get bored with those types of things, we want interest. Right?
man, from the looks of it you are alomost there, don’t give up, its that thin red line that you have to cross and you are almost there I appreciate reading all the replies it gave me new ideas regarding trend lines, and hopefully it will also help my trading
Trading is a huge subject. Study as much as you can. InnerCircleTrader is a great trader who has studied trading for decades and talks about having a ‘toolbox’ of techniques. It’s also important to understand your psychological profile. Are you naturally a scalper, a day trader, swing trader? I started off as a day trader but later found that swing trading the 4 hr was much better for me.
As you’ve found out trend trading has a low win rate. It’s still very profitable because sooner or later you’ll catch a big one. A lot of trend traders use relatively tight stops because they want to ‘be right or be out.’
I’m so happy to hear that I am not the only one! Sometimes I feel like I should have 2 computers connected to 2 different brokers. As soon as I enter long, the price goes through the support line and shoots down. Then I could enter short on the other and make some pips. I sometimes seriously think that my paper trade account does not want me to start understand price.
I also feel better reading the reactions of the others here… so I guess there is just one way to go: Continue.
Isn’t even ranging markets trending as well if you go to a shorter time frame?
Price doesn’t always bounce between the channel lines… It often goes really random inside the channel too…
That’s what my problem is I guess… You never know when the trend stops… it can stop any moment…
And price doesn’t go in a straight line either… So I can’t just assume trend stopped as soon as I see a few red candles…
I might be trading against the trend for several trades before I realise it’s actually reversed.
I’m borderline on the same page as you… not believing in trends.
But at the same time I just don’t understand how you can make money trading against the price direction?
Is there any chance you can give more info on how you go about that?
Maybe a little look at what kind of entry method you use?
like the wise guys are sustaining, trading is not an exact science, it is an art , the art of interpretation with patience the history of the price. what wee see on the graphics are not the future, it is just the history of the price activity. for that wee can’t predict WHEN THE PRICE WELL CHANGE HIS DIRECTION!
we need to identify the THE TREND in different TIME FRAMES and know all the time in which time frame are we operating.
( TO OPERATE means even not to open positions, just observe the price. it is a decision TO NOT OPEN POSITIONS, because the setup are not complete…! )
also we need to understand the difference between TREND LIKE a TENDENCY, because the tendency is THE THEME of the price, and the trend IN A RANGING period ( ranging = indecision when PRO’S are waiting to manipulate the price…)
the theme is what THE PRO’S wants to do. ( as an example: THE THEME, we see it in weekly and daily tfr., and it is the best indicator to see in which direction is better to open positions, with the pro’s or against them!?
