Used to be profitable....

L

laserblues2

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Used to work with a market terminal in front of me and traded the FTSE indice regularly and generally always made money. My decisions were based on which was it was going and how many companies had increased / declined for the day and the way it seemed to be going. Also more red / green.... not very scientific i know!!

I left my job and am trying to trade full time for myself with mixed results, but generally losing. I've read quite a few books since I left my job, Michael Covel's Trend Following and Turtle trader, also Jack Schwargers Market Wizards and a few others which werent as good....

But I'm looking for some pointers as to where I'm going wrong - whether I'm overtrading or trying to focus in on too short a time frame? How often do people in here trade on an average day (I know thats a hard question to answer as lots of people with vary hugely) but also what indicators and time frames do most profitable people use??

Guessing the shorter ones - 1 min to 5 mins are just too volatile / too much noise?

Thanks in advance

Nick
 
I was trading the 5min TF up until recently, mostly on Brent Crude and had done very well over the past few weeks with a heavy short bias due to the downtrend, but in hindsight I could have made just as much using a simple EOD - open entry order trend following strategy which I am now working on. As I was fully technical it means a bit more fundamental work but as I am only interested in the big moves this is not too much of a problem. Day trading off the lower timeframes can be very profitable but I would say very few people will be suited to it.
 
I would like to learn more about swing trading but would like to see some examples of strategies but struggling to find anything good or worth reading. Any tips or pointers as to where is good??
 
laserblues2 said:
I would like to learn more about swing trading but would like to see some examples of strategies but struggling to find anything good or worth reading. Any tips or pointers as to where is good??
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Hi mate,

Read your private message and thanks for posting on the public forum.

I'll be honest I'm burnt out with typing today so wont bother responding (although somehow I'll find time for odd rant I'm sure), instead, feel free to call me on skype if you feel I can be of help.
 
Hi Lee, how about we chat on Monday then?? That way you'll feel refreshed?? ;) if thats ok??

Thanks

Nick
 
laserblues2 said:
Hi Lee, how about we chat on Monday then?? That way you'll feel refreshed?? ;) if thats ok??

Thanks

Nick
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No.



Mondays a different day, I am only hoovering the office at the moment so if you fancy stealing me away from my friday tidy up, please feel free.
 
Thanks Tom - will have a read through it...

Lee - ah ok - I'll give u a shout next time I see you online....
 
Hi Lee,

Apologies if my message came across wrong - when I went to call you, it said you were offline?? My net has been playing up all afternoon.... I'll call you next time i see you online if thats ok??

Thanks & apologies for any misunderstanding there may have been... I would love to speak and get some tips / advice from more experienced traders.

Nick
 
Like I said, dont worry about it mate. I'm online everyday and speak mainly using skype. I guarantee you I was not off line.

If you want to get tips you'll find trade2win the place to be, many people on here will be in the position to help you out so dont worry, you'll be fine.

As for being offline, wtf, you sent me your details to which I accepted.
 
laserblues2 said:
Used to work with a market terminal in front of me and traded the FTSE indice regularly and generally always made money. My decisions were based on which was it was going and how many companies had increased / declined for the day and the way it seemed to be going. Also more red / green.... not very scientific i know!!

I left my job and am trying to trade full time for myself with mixed results, but generally losing. I've read quite a few books since I left my job, Michael Covel's Trend Following and Turtle trader, also Jack Schwargers Market Wizards and a few others which werent as good....

But I'm looking for some pointers as to where I'm going wrong - whether I'm overtrading or trying to focus in on too short a time frame? How often do people in here trade on an average day (I know thats a hard question to answer as lots of people with vary hugely) but also what indicators and time frames do most profitable people use??

Guessing the shorter ones - 1 min to 5 mins are just too volatile / too much noise?

Thanks in advance

Nick
Click to expand...

If u r spread betting I would say indeed that anything less than 15 min time frame is tricky.
I trade Dow & ftse using 15 min green/red candlesticks and do OK(in conjunction with obvious S/R lines)i.e.at a strong S/R point see if the candlestick changes colour,and then go with it.
 
Lee Shepherd said:
Like I said, dont worry about it mate. I'm online everyday and speak mainly using skype. I guarantee you I was not off line.

If you want to get tips you'll find trade2win the place to be, many people on here will be in the position to help you out so dont worry, you'll be fine.

As for being offline, wtf, you sent me your details to which I accepted.
Click to expand...

Lee, if Laserblues2 doesn't want to talk to you I certainly do! I would not pass on the chance to talk to any trader regardless of experience (I have only ever spoke to one in my life). You never know what you might learn...
 
Rossini said:
Lee, if Laserblues2 doesn't want to talk to you I certainly do! I would not pass on the chance to talk to any trader regardless of experience (I have only ever spoke to one in my life). You never know what you might learn...
Click to expand...

Its boring friday again which means little trades and office tidying, feel free to skype me and get me away from the dusting and hoovering.
 
To be honest I'd try to work out exactly what you are doing differently or is different and try and correct it. Of course you could start again but that almost certainly will be a much longer journey.
 
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