Trading For A Living
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Thread: Trading For A Living

  1. #1
    Hi Everybody,

    Though I am new to forum I have started this thread because I have seen many threads both on this forum and others with questions about if it's actually possible to make money trading Forex.

    So I thought it might be nice to have a thread where someone who does trade for a living, stocks thoughts, trading plans etc..

    Hopefully this thread will eventually offer encouragement for those that are new to the sport and seek a little reassurance.

    I wanted to put this thread at the Interactive Trading forum as it's probably more appropriate to but apparently I do not have the rights, so if some of the admins can move this across it would be much appreciated.

    So a bit about myself... I am a complete time trader, I exchange day in day out to earn a living. I do not claim to own a crystal ball so I am wrong a fantastic amount of the time, however I am right enough to remain internet profitable.

    I do not trade one special system; I exchange based on what the market is doing in that specific time. So when the market is trending I will have some medium in order to gain from the longer-term trend.

    By the exact same token I will also day trade in and out of those markets to keep the scoreboard ticking.

    I exchange both Technicals and Fundamentals because I think they are both equally as significant, and understand that I trade better once I take into account. Having said that, I take my entrances and exits purely from the Technicals.

    The 1 thing that will remain constant however is that I'll trade in the direction of the MOMENTUM, I will never, ever stand in front of a train or try to ch a falling knife. Some people can do this; I cannot, as logically it doesn't make sense to me.

    I believe that is an important thing, this thread is not about one system, as there are many that can make money, it's more about the mindset you want to have to become successful.

    As traders we will need to understand that we cannot understand what the next move is going to be, we can only use the information available to us to put us in a situation where we can REACT into the price once the time is right.

    What I will try to do in this thread will be provide my plan for your day in the mornings (when I have time), and then update it during the trading day when and as I have some advice I think will be of assistance to your community.

    I hope this thread over time rewards the community here in forum and welcome anyone who would like to engage.

    Best

    AFX

  2. #2
    96846and another 10.2 from the AUD/USD

  3. #3
    90604OK I believe I am done trading for the morning... lets see what the US must offer...

    So in the meantime, any queries?

  4. #4
    90604No questions, however I do thank you for starting this thread. I have to visit my corporate job and sign off from trading. Tomorrow, I will see you. Very good luck in your trading now.

  5. #5
    90604No probs Dcb, I look forward to talking with you tomorrow.

    I hope the rest of the day goes as well as this morning.

    Greatest

    AFX

  6. #6
    90604
    Quote Originally Posted by ;
    OK I think I am done trading for the morning... lets see what the US must provide...

    So in the meantime, any questions?
    I am done trading also...a nervous 16 pips on GBPUSD short.

    My analysis of the pound is as follows....there is a growing triangle on the D1 chart (see attachment). The four hour chart shows narrowing price action, if this morning has been taken into account.

    This Creates a target to both the upside and downside. The downside target is where the bottom expanding the uptrend line along with triangle meets.

    On the upside we're looking at 1.6400 (2010 and 2011 drops )....which I am prone to think will occur with all the sell $ sentiment.

    Perhaps I will get my answer tomorrow or today.

    What is your take on the pound?

  7. #7
    90604For me that the pound chart is really a mess. It's been in this range for about 3-4 months. I don't actually know how to play this, so I am standing aside although I would need to agree with the fact that the negative dollar sentiment will push it a bit bigger before it goes lower.

    However we will need to be mindful of the risk off mood the markets have been in this morning to the rear of additional anxieties regarding the European debt crisis with Greek yields broadening...

    In a nutshell I agree that this pair could go up just as readily as it could go down.

  8. #8
    90604
    Quote Originally Posted by ;
    For me personally the pound chart is really a wreck. It's been in this range for approximately 3-4 months. Personally, I don't really understand how to play this, so I am standing aside although I would need to agree that the dollar sentiment will push it a little bigger before it goes reduced.

    Nevertheless we need to be mindful of the risk off disposition the markets have been in this morning on the back of additional fears about the European debt crisis with Greek yields widening...

    So in a nutshell I agree this pair could move up as readily as it could...
    Thanks. Agree with you....and this is exactly what the PA is saying also....uncertainty with a bias.

    Cheers. . .talk later.

  9. #9
    Hi all,

    Excellent to start off like that guys, so I'll be pluging along if you don't mind I feel this thread has nice potential and I like that you have experience doing so.
    I trade 3 decades,I don't trade for a dwelling and clearly it is my goal.
    Largely focusing on EU,but will have a look at other pairs to learn...

    AFX-UK please do post a few chart of your short time frame trading even it is after the fact,simply to see how you go about things, I really don't need detail expanation of your egy. . .usualy a chart speaks for itself.

    I am currently short EU from 499 460 and will start to dump some of it about 350 when we get there.

    Good day all...

    regards

  10. #10
    90604Hi Tilt,

    No problem I will post charts later and give you a brief explanation in my trading.

    Thank you for joining! I expect you find the info useful.

    I would recommend looking at at least a few other pairs so you've got various choices and you are not forced to trade only 1 instrument in the cases where that instrument is not setting up.

    Best

    AFX

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