Hi everyone, I’m a new trader based out of Ontario, Canada. I’ve read literature on trading in the past, and just finished the School of Pipsology!
After reading another book on trading I watched the markets and demo traded for a few months before losing consistency. My trading journal wasn’t accurately calculating my risk:reward and had a few losing trades, so I felt confused and alone.
Outside FX trading, I like to movement, movement My goal is to create a revenue stream that requires only a fraction of my week (because being underpaid for 40 hours a week sucks) so that I have the time and capital so my days are based around exploring movement, and encouraging others to explore movement (when was the last time you did a summer sault). Also, I like word play (aka puns), prepare to groan and shake your heads!
Edit: Trading style will be swing trading, playing with reading PA and confirming using indicators to create a discretionary approach that works for me. As well, I intend to see if I can get an EA to do this for me.
I look forward to being an active member in this community now that I’ve found it - there’s so much to learn and so many supportive/knowledgeable people here!
Welcome!! I’m new too and wish you loads of success!
Loving the whole ‘movement’ thing? What’s that all about? I dance in my spare time although I don’t often do somersaults we do, do walkovers and flips though haha x
Welcome to you too! And may the discipline (and the pips) be with you.
Generally it’s anything that reminds us adults that play is important - we spend so much time using our brains that most of us are disconnected from our bodies. And when we do move, it’s in very specific, regimented ways, which continues the disconnection; we don’t “feel” how our body moves when we’re so focused on making it move a certain way. Structure has its place, but I’ve noticed a lack of understanding of how people move within their own bodies, even in highly trained individuals. Personally, I do all kinds - rock climbing, slackline, acro yoga, animal flow, tricking, rope dart.
Dance is amazing! It holds a special place in my heart. Everyone should dance <3
If time constraints and life preferences mean you can’t day-trade multiple hours a day, you’ll have a good possibility to learn trading and stick around. Although I’m not working these days, I never open or close trades live during the trading day and never watch intra-day charts, no need, not productive. Good luck to you pipsqueak.
Thanks for the vote of confidence tommor!
Indeed a swing trading style looks most attractive to me. If you don’t mind sharing, what trading plan has been most successful for you?
Following trends off the dailies. I used to exclusively swing trade but discovered the obvious lesson - the swing trades that do best are the ones that turn into trends and that you have the nerve to run with as long as poss. Now I just look for medium-term trends and get on board, then set pyramid orders 2 or 3 at a time ahead of price so that the winning positions get bigger and bigger. Takes a strong stomach against the draw-downs early in the campaign (and a thick skin against all the traders who say trend trading is dead and by the time you get in the trend is already dead and moving averages are too slow and blah blah blah.
What I’ve seen done is using Stochastic (14,3,3) as confirmation of trend reversal. RSI (9) as well, and can also be used to confirm a trending market using the 50 line.
I’m not an expert as of yet, and am starting to play with these so I can’t speak from too much experience just yet. Pipcrawler uses price action in his analysis, and the Cowabanga trading system uses both Stochastic and RSI
The RSI seems interesting… I wonder how much it lags the action… I try to trade off daily charts, so it might just work for me… what frequency do you use?
Only one way to find out! I tend to lean more towards Stochastic when I look at charts myself, but I know the Cowabanga system uses the two together - stochastic as the oscillator and RSI to confirm the direction of the trend. I remember having the thought that RSI (9) lagged behind Stochastic.
I’m not sure what you mean by frequency
Hello @danimated. You seem to have your foundation set. I’m still going through the School of Pipsology. I tried jumping right into it and luckily I used a demo account because I kept losing. So out of all the resources I’ve read, I finally came to the conclusion that Babypips is THE BEST resource to learn the fundamentals. Glad to have you aboard!
I like to movement, movement 
My goal is to create a revenue stream that requires only a fraction of my week (because being underpaid for 40 hours a week sucks) so that I have the time and capital so my days are based around exploring movement, and encouraging others to explore movement (when was the last time you did a summer sault). Also, I like word play (aka puns), prepare to groan and shake your heads!
I’m already loving your vibe.
Haha. I don’t move a lot, but I hope to change that. 
