huh, CableTrader, If I could be sure of 3 pips every day.... I would be very happy! And I will, but It will need a 1000 hours more to spend on the charts. And european time zone is good for trading indeed!
3 pips a day, get real! There is so much money in this market it's obscene, all you have to do is trade it! 1000 hours doing what, playing with your putz? Just take the trades, win some, lose some, it's no big deal, keep it simple because trading is simple. Look at that now, you've got 80 pips on eur/usd and 60 on Cable while all the 'I need 1000 hours' traders were sitting on their hands. You've got your 3 pips a day for the next two and half months. You've got to be in it to win it, just do it, bollox to spending 1000 hours watching money floating by!
No idea, I'm flat, have been since after lunch. What do you mean what do I mean? Trading is simple, buy or sell based on whatever your criteria is, have a stop for when you're wrong, have more (or bigger) winners than losers, trade sensibly for account size to allow for a series of losses, how simple is that. Every day I read people saying how hard it is, how they have to spend a lot of time learning, watching charts, trading demo, reading books, it's a total waste of freakin time because after all those hours of watching, reading, trading demo, their trades have just as much chance of success as the next guy's, less sometimes because they have their heads full of crap, over-analyse the market, and get scared shitless in case they lose a few bucks.
This is not a way to win. This is a way to be flat in a longer period of time or on minus because of the spread. Or You are a stockmarket genius from the time You were born? You know W.D. Gann, don't You? He was playing few years on Wall Street in 20'-30' But no success. Then he made up his mind: to be a good doctor, painter, musician and so on, one must spend years. So he started a dilligent research, which lasted 15 years or so and during this time, he became rich. They say that he could have 240 trades a month of which 200 were profitable and starting with 100$ one month ended up with 30000. But he learned for a long time. And I'm sure - a genius is a genius because of about 20% of talent, 10% of luck and 70% because of hard work for a long time. If trading was so simple, everyone would be a millionaire.
lol, if I had a dime for every time I heard that one! So what's so complicated about trading? It's the perception of trading being so hard and requiring years of hard work that puts people off, they say exactly the same as you, if it were that easy then everyone would be doing it so they don't bother or they end up wasting years learning stuff they simply didn't need to know. I'll tell you how easy it is, you could take a total newbie who has never looked at a chart in his life and within a couple of weeks turn him into a profitable trader, the only thing is he would have to listen to everything he was told, that's the hard part. "This is not a way to win"? lol, if only you knew, maybe one day you will.
I think, that saying such a things You must already have these statistics - thousands of trades and profit more than 50% from initial capital. Or are You a newbie yourself? trading for half a Year, having made 100-200 trades and accidentally lucky? I agree - listening to others is hard, as I worked for several weeks in a day trading company and made losses. But it was a pip catching company and I was hypnotized (couldnt stop, when was loosing and awaited too big profit) by the charts so I was losing. Now I'm open to any clever suggestions, but watching the structure of the charts and playing demo seems to be the best way to learn the market for me. What is so bad to practicing demo???
There's a classic example of what I'm talking about! While you're fiddling and farting around saying 'will it, won't it' and how you need another 1000 hours of watching charts you could have taken the trade and made some money. No problem if you had been wrong, you've got a stop to protect your equity.
Nothing bad about trading demo for play money apart from it being a waste of time, your psychology will change beyond recognition once you go live and risk real hard cash. You guys make me laugh you really do, trading isn't rocket science or brain transplanting, it's buying or selling (a currency pair) for goodness sake, lol. To put it into perspective there was a gorilla picking out stocks by using numbers on bananas not that long ago, and he was profitable! I can almost guarantee he'd never even seen a chart let alone spent hundreds of hours watching one