When will a lot of you guys learn?

[stirampage]

Originally Posted by currencia

Ten hour days for months is really a very short period of time. You are hardly past beginners luck as is evident by your last sentence.

Support/resistance and moving averages are so basic that if they worked long term any and everybody could be easily profitable. New traders start out with that stuff, then the oscillators, then various grail seeking systems that massage all that crap to death. Most everyone of them trade breakouts on the small chart while they listen to the news and scalp over it.

Trading less than a year and made ten times the boot already?? I'll chalk that up to an extended period of beginners luck. If he started out with $100,000, then he is set for life and ought quit while the beginner's luck is with him. If he started out with a paltry $10,000 as all he could justify at his station in life, then he has over a million bucks in his pocket. And that's where he ought keep it going forward because it is more money than he has ever seen in his life and more t han he is likely to see again.

There is support and resistance everywhere on a chart.

I guess you missed the whole point of this thread, eh? OF course, if it was a mechanical strategy and he just used MAs and such... then he would be broke/everyone would be rich. There is a lot of discretion, but in general, it all seems like common sense.

[stirampage]

Originally Posted by Wallace

Stirampage, Price Movement isn't that random according to my use of the 'fibonacci' ratio, but you might be oversensitizing yourself, try a longer timeframe.

No, I have been using that. I don't mean it as harsh as it comes off as. I just haven't been "spot on" this month, to say the least. That's all I meant by it.

Today was a good day though...

[stirampage]

Originally Posted by Nonpiker

Hahah...I have seen a really successful professional trader use nothing more than support and resistance. He really uses NO indicators. I mean successful for 10+ years, so I would not chalk that up to luck. Maybe he sees the right levels, and not all the noise in between?

Pretty much.. it's all a paradigm you have to work yourself into I think.

[ampris2000]

are you trying to make 60 pips per trade?
what about less pips but more trades would that work???

[leonardb]

Originally Posted by stirampage

There is one problem, as a side note, that I have incured now.... I'm not sure if it's the charts confusing me, the past month or two... or anything else hindering my ability to see a clear cut strategy work. When I started out it seemed like I can make 20+ PIPs with a 60% success rate and now I seem to not be able to figure it out anymore. I know that the past month has not been a GREAT one, but I still have not been able pull anything off. Probably "trader's block"?

Hi,

Learn price action, pivot patterns, etc .. you'll begin to see the light ..

on another note, currencia; nonpiker isnt alone .. i know a few folks who have been doing the same. you cant deny price action..

[currencia]

Good one Leonardb:

Of all the tens and hundreds of thousands of would be successful traders, U know of but "a few" that can do it! That pretty well sums it up and in your own words!

[leonardb]

Originally Posted by currencia

Good one Leonardb:

Of all the tens and hundreds of thousands of would be successful traders, U know of but "a few" that can do it! That pretty well sums it up and in your own words!

you know your right currencia; i know a few ..

hmm, sorry i dont know every member on this board nor every trader in the forex market, therefore i cant sum it up with 100% accuracy and head count ..

too funny

[currencia]

Well Leonardb, U R a young buck of but 30 years old. Stick around for another ten years. You will then still be able to count "only a few". Too funny that you need a 100% head count to see the light.