MerseyFox
You are going in the right direction but can you analyse the history of your trades to determine whether this is just a lucky streak or a change in strategy ? What, if anything, was different today ?
Don't let tomorrow "bring" it. Actively create what is required tomorrow based on today's analysis.
Good trading
Charlton
You are going in the right direction but can you analyse the history of your trades to determine whether this is just a lucky streak or a change in strategy ? What, if anything, was different today ?
Don't let tomorrow "bring" it. Actively create what is required tomorrow based on today's analysis.
Good trading
Charlton
nine
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Lightning McQueen
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Having started playing in the FX comp (+26pips/4 trades), I'm coming around the idea that FX is much easier to predict than indices.
Obviously it's a wild ride on news eg NFP.
Hi guys
I dont know much at all about fx, so was intrigued by your posts. I checked out the ftse vs GBPUSD on monthly, weekly, daily and intraday (5 min) charts. To cut to the chase I couldn't for the life of me see that one would be easier to trade than the other on any timeframe, am I missing something here?
The only advantage I could see in trading GBPUSD over ftse was the greater length of time per day that tradable movement occurs....ftse's flat from 21:00 til around 07:00, GBPUSD appears perky most of the time, day or night :idea:
Im not playing the comp but I've looked at what others are doing, kinda looks fun but i miss the old one.
timsk
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The notion that any one market is easier to trade than another crops up with surprising regularity and it always tickles me. It's part and parcel of the 'Holy Grail' quest and, as we all know, that doesn't exist. Looking at it logically - if for the sake of argument - forex really is 'easier' to trade than say, equities, why would anyone trade equities? They wouldn't and the equity market would collapse which in turn would kill the forex market and the futures and the options markets etc. In other words, market meltdown would occur with all its catastrophic global consequences. The market as a whole will never allow this to happen, so there isn't - and never can be - any one market that is easier to trade than another. It simply can't happen.
The flip side of this particular coin is the personality of each individual trader. Just as some traders prefer to conduct their activities E.o.D., others prefer to finish the day flat, safe in the knowledge that nothing nasty can happen to their accounts while they're in the land of nod. By the same token, some traders concentrate on index futures or a few currency pairs, while others would struggle with such a small selection of instruments and require a whole galaxy of equities in which to thrive. There are equity traders who could not trade forex or index futures for toffee and visa versa. We all have our chosen instruments, time frames, platforms and software etc. because that's what works best for each of us. This is a very different kettle of fish from the assertion that one market is easier to trade than another. The latter is a complete fallacy and anyone who chooses to believe it will, I suggest, end up chasing their own tail in an increasingly frustrating cycle of losses that will lead inevitably to a very depleted trading account. How can I be so sure? Sadly, I speak from bitter personal experience!
Tim.
Maybe look at what was working for you and stay with that and try not to do what is'nt.
I know it sounds blindingly obvious, but its often the simple things.......
