Man it is tough being a noob… I imagine the die hard home-based traders having 9 screens up, and here I am with my silly noob question noobilating the whole board with my newbieness…
and yet I’m totally sincere. Does anyone know if I will be able to monitor the market effectively on wifi using a Galaxy note for example? Is it impractical altogether to try and do this with a one-screen system?
I have a VPS computers at AWSamazon that I can access through my tablet using logmein. Further more I have FXCM and Metatrader4 on my phone and tablet. This is actually all I need.
These are awesomely helpful responses! I’m so glad for this forum.
I wonder how you folks trading via mobile devices perform versus those with home computer systems via towers and more gear. So since no one really can know that, let me just ask how you feel you’re performing with your stuff on your mobile devices or remote access? Would you say you are poster children of pip-making success? Do you find yourself wishing you could do it on a tower at home instead? I don’t really know how to ask this so I humbly ask for your indulgence of the question with all its warts. I don’t have my tablet yet so there’ll be some getting used to anyway. But I do expect to use something like Opera mini so I can have multiple windows up at once. You guys/gals all are working with multiple windows up at once, right? I imagine some of this inquiry will begin to take care of itself as I actually start playing with a broker’s software program. I just hope that there will be no snags or "impossible"s when I, say, go to lay on several indicators at once on a chart so I can read whether to jump in or not from multiple tools. I guess you guys have no problems using several analytical tools at once on your tablets/mobiles, right?
Depends on the screen space you need, trade interceptor ans oanda is all I use, if oanda allowed custom fibs I’d only use that, s and r lines Asian lines and vert time markers (all these lines are just horizontal and vertical lines not indicators as such) with ict OTE fibs i see a swing set up, everything else is widerview holisitic market analysis… if I wanted to be sat behind a desktop all day I’d have stayed in coding… anyway the way I see it is its like playing a guitar learn and hone on acoustic once mastered and get tricky on electric…Wahhhaaaayy whaaa and reverb don’t cover poor playing… What I’m trying to say if you get used to reading basic candles and naked charts youll be better sooner, watch ICT’s stuff, indicators to me and 9 screens is information overload. You will one, need the patience to wait until all indicators line up and you’ll miss good trades or you’ll choose to ignore an indicator and enter a trade the ignored indicator will then it’ll eat away at your confidence in the trade and you’ll close at a low lose or arou.d breakeven… That’s what I found anyway, so I dropped all the indicators, it took me a while to employ fibs, but since dropping the clutter and watching ict’s stuff my pips are rolling in, up 150+pips last week only 3 losing trades equaling 30pips total, I just closed a 90 pip sell trade I opened on the 19 of dec, 90 pips to me 90 rocks my world peace pips and happy Christmas, pips in the new year one more tip for what’s its worth… Find a way to predict a bull or bearish market trend and only trade in that direction, do that and you’ll be on a good seat. Knowing wheather the market is bull or bearish is the only key you need
kaya75, thanks so much. If you’re still reading this, I hope you’ll reply:
when you said, "I just closed a 90 pip sell trade"
Does this mean
you had lots in a currency pair
you spotted a downward motion so you bought the opposite currency (not more of the base currency) and closed what lots you had on the base currency to minimize loss, and
you let the fall continue until 90 pips and then sold the opposite currency for a profit of 90 pips?
Every time I see the words “short” and “sell”(as in trade) I just think of stopping losses.
Or do you mean you bought low and sold high? I’m sorry for the newbieness of my question. I’m studying all the materials pretty diligently I’m just still struggling with the notion that people make money on downtrends.
And I just did a google search for “ict’s stuff”. Do you mean a blog on this page?
Hey no worries, my other half trades stocks and she finds the downward / short / sell trades a tough notion too, I did at the start. With fx you buy or sell the base currency against the other that’s why we trade pairs. It’s easy to see if we buy the GBP at a low price and we sell when its worth more bang, we made a profit… the question is why is it worth more?? Fiat money that’s paper money, bills, coins, data bytes, whatevers not gold I guess. Fiat money is worth nothing, its just ink and paper its only value is what you can acquire with it, so to trade currency aka fiat money we need to pair it with something, pairing it with fish would be silly so we pair it with another currency. Both currencies are valued at a price by traders the big boys like the bank of England, the fed reserve, citi group, Barclays etc are known as the market makers these have the biggest effect on market price due to the volumes they trade, us me and you are retail traders the wee little fish but all traders are effected by fiscal conditions. So we decide to sell or short the GBP/USD. The price is 1.650 so for every one of our GBP we get or effectivly buy 1.650 USD the GBP weakens or the dollar strengths either way and the prices drops because the pound can buy less dollars. Say the price drops to 1.500 when we close the trade we effectively only have to give / sell back 1.500 USD for every GBP sold, we get to keep the (1.650 - 1.500) .150 difference. It’s a bit odd at first but we olny every trade in opposing pairs…
That’s how I see.it anyway, but I’m pretty new too… any corrections welcome
ICT (inner circle trader)and Pips school… ill try to post a link, or search YouTube for inner circle trader (ict) “what every aspiring trader needs to know”