Australian Forex Traders

This is a discussion on Australian Forex Traders within the Meetups forums, part of the Trading Career category; Hi T2W members, Just looking to meet and chat with Forex traders from Australia in the aim to share a ...

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Old Jan 17, 2011, 2:36am   #1
 
_JWG_'s Avatar
Joined Oct 2008
Australian Forex Traders

Hi T2W members,

Just looking to meet and chat with Forex traders from Australia in the aim to share a few experiences and stories.

More interested in topics like working from home, trading discipline, recommended books, family/work life balances, lessons learned, etc.

Everyone has a certain way they trade and their own opinions on the currency market and whats happening around the world. But what I'm more interested in discussing is how we are all affected by the people around us, our routines and what we are really trying to archive.

I am a business owner and part time trader. I have had a keen interest in the markets since 2006. I live in Melbourne and work out of my office at home. What really appeals to me about the FX market is the fact it reflects the way of the world. I really truly enjoy knowing the ins and outs of how economies are running and how it affects the worth of the countries currency. I believe there has to me more that money attracting you to this trading game. For me I can only relate my feeling towards the market to the passion a child has for deciphering a puzzle and watching the pieces fall into place.

Would love to hear so feedback from Australian Traders.

Cheers

JWG
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Old Jan 17, 2011, 6:22am   #2
Joined Jan 2011
Re: Australian Forex Traders

Hi ,
I'm a part-time unemployed fx trader from Newcastle NSW .
Lived in Melbourne 10 years ago in the diamond valley .
I've found that long-term positions suit me better and i use a hedge instead of a stop
when my position goes the wrong way .
I go to the gym 6 days a week and i might do a tafe course soon which all works together well .
Happy Trading
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Old Jan 17, 2011, 11:50pm   #3
 
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Joined Dec 2010
Re: Australian Forex Traders

I would really love to live in Australia

I finks dem kangaroo is wonderful & dem aussie chick real sexy

unfortunately I cna't get dem visa as my country not yet recognize

May be I can find aussie chick bride

All helps much appreciated


Fredo

Quote:
Originally Posted by _JWG_ View Post
Hi T2W members,

Just looking to meet and chat with Forex traders from Australia in the aim to share a few experiences and stories.

More interested in topics like working from home, trading discipline, recommended books, family/work life balances, lessons learned, etc.

Everyone has a certain way they trade and their own opinions on the currency market and whats happening around the world. But what I'm more interested in discussing is how we are all affected by the people around us, our routines and what we are really trying to archive.

I am a business owner and part time trader. I have had a keen interest in the markets since 2006. I live in Melbourne and work out of my office at home. What really appeals to me about the FX market is the fact it reflects the way of the world. I really truly enjoy knowing the ins and outs of how economies are running and how it affects the worth of the countries currency. I believe there has to me more that money attracting you to this trading game. For me I can only relate my feeling towards the market to the passion a child has for deciphering a puzzle and watching the pieces fall into place.

Would love to hear so feedback from Australian Traders.

Cheers

JWG
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Old Jan 18, 2011, 2:42am   #4
 
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Joined Oct 2005
Re: Australian Forex Traders

Quote:
Originally Posted by Tantalos View Post
I would really love to live in Australia
You gotta be pretty to live in Australia, so post a pic and we'll see if you can get in


JWG
As a part time trader / business owner, where do you get the time to study the ins and outs of world economies?
Based in Perth, my big juggle is the late night hours.
Working from home has it's own social drawbacks, so it's important to not be a hermit and get out there as often as.

My one trading lesson learned is: Have a plan.
My trading edge is: Stick with the trend.

Have fun
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Old Jan 29, 2011, 3:49pm   #5
 
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Joined May 2010
Re: Australian Forex Traders

Aussie Aussie Aussie.....Great idea to have a get together of Aussie traders.

I live on the Central Coast in NSW. I am 25, have two kids girl 9yrs old and boy five yrs old tomorrow wait....actually today! Wow is that the time, Happy Birthday Son!

Anyway I got into the game of Forex when i was 19 shortly after i was diagnosed with MS. So for a number of years i was doing as most do working a 9 to 5 actually it was a 9:30pm to 6:00am job in a freezer while refusing treatments from Doctors living in denial and burying my head in the sand and not dealing with the fact i had MS and trying to learn how to play the game of Forex and at the same time driving my health into the ground. In the Summer of 2007-2008 the MS started to get pretty bad which under doctors orders had caused me to stop working. While this was probably the hardest time to date in my life there was a bright side to the situation....I had a **** load of more time to get my trading right.

Forex has been one hell of a frustrating ride! The trail and error processes has be incredibly frustrating. But each time my hypothesis on a way of trading failed it just made me more determined to work harder... **** look at the time i will continue my story sometime after all the Birthday festivities are over tomorrow....need sleep.Good night OZ
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Old Jan 30, 2011, 12:13pm   #6
 
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Joined May 2010
Re: Australian Forex Traders

Okay where was i.....Determined to work harder. I have tried so many different combinations of indicators over every time frame, and yes i even tried the weekly charts for a very short time, let me tell you its worse then watching paint dry. I used all the mainstream indicators, hundreds of custom indicators, i have tried so so many systems created by others, i tried complicating things, I tried not complicating things, I tried using a tight Stoploss, very wide stoploss to not even having a stoploss. I tried S&R, pivot points, trendlines, fibs, pitchforks, channels, candle stick formation and so on. I have tried range charts, Renko charts, even tried trading without price, tried trading news so on and so on, you get my point.

I had tried so many things and nothing would click. I lost thousands of dollars and everything just seemed to be against me. But the fact was it was only me against myself. After giving up for the like 5th time which was my longest period away from the game (about a two months) it all started to change. I started to show consistency, but yet overall i was still a breakeven trader....And i must say while you maybe at breakeven and not losing much it is still if not even more frustrating then being just a rookie losing , cause you feel like your there but sh!t still don't work.

Then one day something changed again! It was like i just knew what to do i threw a few indicators that i have used many times before in many of my hypotheses, found a time frame to trade according to my life style...and finally got it right. I don't know what changed it all exactly? And still even now can't really say in a definite way of what changed everything. All i can put in down to is time in the game and burning candle sticks into my eyes lol.

Some of the most important things I have learnt have to be…..#1 Learning what emotions are? Why we have them? And how to keep those emotions in check is imperative. This is by far for me the most important thing that must be learned if one is ever going to make it as a self reliant consistently profitable retail trader....#2While Money Management and risk is a topic that is widely debated and has to take into account a persons level of risk, it is important to be conservative and not leverage to much of you account on one trade, it’s a marathon not a sprint!…..#3 No one has the answers, only that of which works for them, what works for one may not work for others, take the time to invest in yourself and find what works for you…..#4 Always be open minded to listen and learn, as Stephen R. Covey says “ have time to sharpen the saw”…….#5 The quickest way is by far the longest way, keep trying to take shortcuts and the journey to your destination will take twice as long……#6 I have learnt that markets don’t care what MACD, Stochastic, RSI, overbought, oversold, or any other indicator news event or theory says price will do next, PRICE will do whatever it wants. Nothing is a guarantee and can never know 100% what is going to happen next, We can make a calculated guess but we do not know what the market will do next. A example of what I mean and see this all the time: Someone says this news came out as this so why is it going down and not up like it is meant too….The answer I will always give is price will do what it wants!

This leads me to #7... Being accountable and responsible for yourself and your actions. Making excuses and blaming the market, the broker, the system or blaming a signal from someone that you followed is not being accountable and is irresponsible!! We have all done it at some point, but by doing this only stops the capacity to see the lesson that can be learnt whatever it may be. Lets study n analyse this for a sec…..

Blaming The Market: The market does not know nor does it care about what you think, nor what direction your trade is going in. It has no feeling, no good or bad and has no bias what so ever. The market is just information which you interpret. You look at the information and interpret which direction to trade in and you choose to click the button to enter the trade… I have heard people say F@!king brokers stop hunting! Is the blame on the broker or is it on you for having tight enough stops so they can stop you out? Remember you choose the amount of pips to set the stop and you were the one that placed the stop! Those that say the broker, will not learn anything and continue to get stopped out another 100 times till they say F#!k this I am setting a wider stop. So they did is eventually learn but they learnt the hard way. If they only had the accountability there he or she would have looked at what they are doing and they would have fixed the problem much quicker then just blaming the broker… I hope you can you see the key word here??............ The key word is YOU! Anyway being accountable and responsible will do you a favor in taking down the Great Wall of China that not being accountable and not being responsible puts up in front of eyes and will allow you to see and learn the lessons and identify problems much more efficiently and effectively making yourself a better trader. I am sure you can see my point about being accountable and responsible. I see this problem everywhere with aspiring traders blaming everything they can and it drives me nuts!

Well that’s the conclusion of Charter 2, I can’t type anymore lol…..Hopefully I haven’t bored you to death with the length of the posts….I will be back later with Chapter 3

Peace
Aussie_Pride
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Old Jan 30, 2011, 6:56pm   #7
Joined Dec 2009
Re: Australian Forex Traders

Thought I might throw in a couple of savs (gems) and in return you return the favour and send me a couple of VB's...can't get it here...Florida...x Sydney and Tassie...

I have helped out a few septics over the last year by referring them to a site/blog based in the UK run by an old digger...the site is Electronic Local...for the benefit of all traders trying to make a go of it, this guy will help you tremendously...he is old school and learned from his knocks...read the blog from its inception (last year 2009-10) ...ignore the charts and his profitable trades...just read the concepts.

My tip..Consider a major change from time period charts to price range bars and keep your indicators/oscillators to a minimum...and please don't go into trading undercapitalized...develop a sound money management strategy BEFORE trading real money...(no MM strategy is any good if the trading strategy is weak)

Other than that...I 'm going to have a cuppa with vegemite and toast while you stew over what I have said...

Miss the place...

astoria
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Old Aug 28, 2011, 1:16am   #8
 
1 Posts
Joined Jan 2009
Re: Australian Forex Traders

Hello Friend !

It seems you are tired of testing so many things. Probably I would be able to help you to achieve something. Could you send me an email with your contact details so that I can reach you ? My email : levymiranda at yahoo dot com

Quote:
Originally Posted by Aussie_Pride View Post
Okay where was i.....Determined to work harder. I have tried so many different combinations of indicators over every time frame, and yes i even tried the weekly charts for a very short time, let me tell you its worse then watching paint dry. I used all the mainstream indicators, hundreds of custom indicators, i have tried so so many systems created by others, i tried complicating things, I tried not complicating things, I tried using a tight Stoploss, very wide stoploss to not even having a stoploss. I tried S&R, pivot points, trendlines, fibs, pitchforks, channels, candle stick formation and so on. I have tried range charts, Renko charts, even tried trading without price, tried trading news so on and so on, you get my point.

I had tried so many things and nothing would click. I lost thousands of dollars and everything just seemed to be against me. But the fact was it was only me against myself. After giving up for the like 5th time which was my longest period away from the game (about a two months) it all started to change. I started to show consistency, but yet overall i was still a breakeven trader....And i must say while you maybe at breakeven and not losing much it is still if not even more frustrating then being just a rookie losing , cause you feel like your there but sh!t still don't work.

Then one day something changed again! It was like i just knew what to do i threw a few indicators that i have used many times before in many of my hypotheses, found a time frame to trade according to my life style...and finally got it right. I don't know what changed it all exactly? And still even now can't really say in a definite way of what changed everything. All i can put in down to is time in the game and burning candle sticks into my eyes lol.

Some of the most important things I have learnt have to be…..#1 Learning what emotions are? Why we have them? And how to keep those emotions in check is imperative. This is by far for me the most important thing that must be learned if one is ever going to make it as a self reliant consistently profitable retail trader....#2While Money Management and risk is a topic that is widely debated and has to take into account a persons level of risk, it is important to be conservative and not leverage to much of you account on one trade, it’s a marathon not a sprint!…..#3 No one has the answers, only that of which works for them, what works for one may not work for others, take the time to invest in yourself and find what works for you…..#4 Always be open minded to listen and learn, as Stephen R. Covey says “ have time to sharpen the saw”…….#5 The quickest way is by far the longest way, keep trying to take shortcuts and the journey to your destination will take twice as long……#6 I have learnt that markets don’t care what MACD, Stochastic, RSI, overbought, oversold, or any other indicator news event or theory says price will do next, PRICE will do whatever it wants. Nothing is a guarantee and can never know 100% what is going to happen next, We can make a calculated guess but we do not know what the market will do next. A example of what I mean and see this all the time: Someone says this news came out as this so why is it going down and not up like it is meant too….The answer I will always give is price will do what it wants!

This leads me to #7... Being accountable and responsible for yourself and your actions. Making excuses and blaming the market, the broker, the system or blaming a signal from someone that you followed is not being accountable and is irresponsible!! We have all done it at some point, but by doing this only stops the capacity to see the lesson that can be learnt whatever it may be. Lets study n analyse this for a sec…..

Blaming The Market: The market does not know nor does it care about what you think, nor what direction your trade is going in. It has no feeling, no good or bad and has no bias what so ever. The market is just information which you interpret. You look at the information and interpret which direction to trade in and you choose to click the button to enter the trade… I have heard people say F@!king brokers stop hunting! Is the blame on the broker or is it on you for having tight enough stops so they can stop you out? Remember you choose the amount of pips to set the stop and you were the one that placed the stop! Those that say the broker, will not learn anything and continue to get stopped out another 100 times till they say F#!k this I am setting a wider stop. So they did is eventually learn but they learnt the hard way. If they only had the accountability there he or she would have looked at what they are doing and they would have fixed the problem much quicker then just blaming the broker… I hope you can you see the key word here??............ The key word is YOU! Anyway being accountable and responsible will do you a favor in taking down the Great Wall of China that not being accountable and not being responsible puts up in front of eyes and will allow you to see and learn the lessons and identify problems much more efficiently and effectively making yourself a better trader. I am sure you can see my point about being accountable and responsible. I see this problem everywhere with aspiring traders blaming everything they can and it drives me nuts!

Well that’s the conclusion of Charter 2, I can’t type anymore lol…..Hopefully I haven’t bored you to death with the length of the posts….I will be back later with Chapter 3

Peace
Aussie_Pride
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