What Every New & Or Aspiring Forex Trader... Still Wants To Know

Bones, chill. That wasn’t snappy at all. Don’t get so emotional. He was simply stating it was over excessive to have an indicator for everything. Even to draw a square that fit within lines that an indicator had already drawn out for you. There’s no point in overcrowding a chart with useless objects that a trader can’t see without it.

What AK said was perfectly justified and I agree with him. Some of these newer guys too, take everything for granted and ask for indicators on everything. There’s simply no reason to.

We are all definitely becoming a ‘family’. Lets just keep it cute because when we are all riding on raptors with bazookas riding on sharks, we may extinct ourselves lol. On the other forums I frequent the best response if you don’t agree is usually no response unless someone is handing out awful advice to others. This isnt even pointed at anyone in particular, but as many of us know threads can get way off topic and this thread is already 550+ pages haha.

I generally start my week of with this:
John Wooden, — 7 Suggestions to Follow.

  1. Be true to yourself
  2. Help others.
  3. Make each day your masterpiece.
  4. Drink deeply from good books, especially the Good Book.
  5. Make friendship a fine art.
  6. Build a shelter for a rainy day.
  7. Pray for guidance and count and give thanks for your blessings each day.

#6 is manifested in my Forex plan/habits:

  1. Assess the Market
  2. Identify the opportunities
  3. Move into the Trade
  4. Monitor the Position
  5. Move out of the Trade or take new position
  6. Evaluate the Trade
  7. Tweak your Trading Plan. Simplify, simplify and simplify.

no trade til Gu leaves the TT no mans land on both the weekly and monthly… if it does i’m looking for 5700 ote sweet spot on the hourly.


Anything you learned from the week?

There are four levels to aspire for as traders

  1. Learn how to build up a retirement account while working a current job - a some of us
  2. Learn to trade Full time as a Professional Trader - majority of us :22:
  3. Learn how to trade for others and build their portfolio – HUGE Responsibility - a few of us
  4. Become a MASTER Professional Hedge Fund Trader - Clarkfx…hehe :35:

You have to develop a Dogged Determination to follow through on your Dreams, Regardless of Circumstances, Obstacles, Criticism, or what other people say, think or do.

“The way to achieve inner peace is to finish off all the things you have started”.

"Successful traders have a game plan. They never quit. They never stop perfecting or learning their craft. They adapt to current market conditions and ride trends. Those who achieve incredibly great things experience plenty of setbacks and disappointments. They have simply decided to take renewed determination, instead of discouragement, from those disappointments

Seize this moment that you’re in, and fill it with purposeful, powerful action. Those willing to pay the price for success are very ordinary people who realize quite extraordinary levels of achievement.
Those attaining success in the FOREX market have to overcome massive obstacles during their journey. Any and all tidbits of info gathered along the way helping you become a better trader should be in your journal for future reference." FJ

Okay guys, I think I’m getting it now…

[B]Less[/B] like this:

and [B]More[/B] like this:

This weekend I began printing out charts to study on my free time. It’s a lot more sobering to the eyes than staring at the PC and, in my opinion, it gives you a clearer view of price action. I removed all indicators and simply drew vertical lines denoting session opens (and LC) and drew horizontal lines denoting the Asian session just prior to LO.

I will also be printing out higher time frame charts, primarily the 1-hr chart, and do a weekly analysis with paper and pencil.

I recall ICT mentioning a while back that he used to print charts in his early days as a trader and I’m beginning to realize the benefits in doing so.


Folks… relax… it was a request and a common one… as new folks gather in it might be viewed as confrontational… we are hosting a safehouse here… not a Roadhouse. :slight_smile:

Save the aggression for the victims on the other sides of your trades. :57:

All this fluff about automation and here this guy is damn-well printing out his charts and drawing on it with a bleedin’ pencil and ruler!

You sir, are the embodiment of every point I was trying to make. I am simply impressed… nothing more to add

sorry man didnt mean to hurt your feelings that time, just a suggestion like you give out

Atta boy! I went through 600-700 pages of charts when ICT first started sharing his ideas and I was backtesting. I had to replace two printers because of it, and new glasses. O.o

There’s no easy way out of putting in the work. If you have the motivation, you will achieve what you came looking for. Too many people now come and go, thinking this is their next get quick rich scheme, and they’ll be trading 6 figure accounts in a couple months. They claim they have grasped the their mindset, and psychology, but this is easier said than done. This just isn’t the case, I learned that the hard way. People need to understand that. Good job Slad.

PS. That’s a nifty pencil :stuck_out_tongue: I haven’t seen a wooden one in a while actually. :stuck_out_tongue:

If you keep this kinda study up I can only see success for you it seems visually appealing to see charts like that for some reason.

No hurt feelings here, if you could see me, I have the biggest smile on my face. I fully respect anyone with the cajones to speak their mind openly and honestly!

then good, we’re both have the same idea here …well time to move on before we get out of control here :56:

The real kicker is this…

someone DID actually make an indicator that hilights the No Man’s Land zone. It’s way way back in the thread though, easy to miss :wink:

Allow me to interject and point out that the 9th Day of ForeXmas has been posted:

9th Day of ForeXmas - Trade Sheet : Download Spreadsheet

Thank you, Michael.

Guys, quick question … I don’t have the ten, five and two year note overlays on my platform, and cannot seem to find one online which overlays them all three together. Anyone can post me a link of the one you use?

Thanks

ICT, I believe by mistake you left all cells of the Trade Sheet excel file protected and locked … so other users cannot input any data.

It’s not Christmas yes silly lol

Try video 3.1 from the front page of the thread."3.1) Interest Rate Overlays Tutorial"
Interest_Rate_Overlay.avi - YouTube

Oh ok … In that case I will refrain from brute forcing the password and wait for Christmas :stuck_out_tongue_winking_eye:

LOL…I tried

ict

sniper

patience

atm

and they all failed…

:slight_smile: