Please Help: Which system to trade?
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Thread: Please Help: Which system to trade?

  1. #1
    I know that I made a thread earlier, but I am really at my wits end...

    I have persevered so much, however regardless of what I do, I keep failing.


    When I use price action that people say to be the very best method to trade, candlestick patterns only work 10% of the time, and even though I trade with the trend, the trades always proceed in another direction.


    I do not know what to do anymore...


    Can there be any system that I can study that will make me profitable with the suitable work placed in? Because I am so fed up with price action and just how inaccurate it is.

    That I simply don't know what to do anymore. .

    I trade with S/R, nevertheless it always fails and goes back on me. . .Its like I'm nothing and cursed works for me. .

  2. #2
    Quote Originally Posted by ;
    I understand I made a thread earlier, but I'm really at my wits end... I have persevered so much, yet regardless of what I doI keep neglecting. When I use price action which individuals say to be the best way to exchange, candlestick patterns just work 10 percent of their time, and even though I trade with the tendency, the transactions always go in the opposite direction. I really don't know what to do anymore... Is there any system I can study that can make me profitable with the proper work put in? Since I am so fed up with price action and how inaccurate it is....
    Start eduing yourself seriously.

    Bird Watching in Lion Country may open your eyes around trading.

    Trading in the Zone by Mark Douglas-classic book on trading plogy
    The Disciplined Trader by Mark Douglas
    REMINISCENCES OF A STOCK OPERATOR -about one of the greatest traders Jesse Livermore basically he devised Pivot trading.Started at age 14 in Massachusetts my home state and from 17 bucket shops were trying to push him away because he was winning such as crazy.Anyway I learned patience from him.
    He'd read the tape (equal of charts at the time) for weeks without any orders then firing his orders at the ideal moment.
    Super Trader from Van K.Tharp-Extremely valuable book on trading.Tharp takes no explanations.
    Harmonic Trading-Anything by Scott Carney-his free ebook is on his website.

    For inspiration read
    THE MARKET WIZARDS 1 and New one by JACK D. SCHWAGER

    Though not required but if you prefer probability theory read
    Probability Theory:

    The Annals of Science
    by
    E. T. Jaynes
    Wayman Crow Professor of Physics
    Washington University


    They're hard books for hard career so get to it.They are no short cuts.

  3. #3
    I spend SO many hours analyzing and in front of the charts, yet folks who do nothing and treat this as a game do better than me.

    I ask myselfhow can it be that somebody who works so hard gets no where? How can I neglect, when I spend 15 hours per day before charts and studying, for weeks on end?

    Is this how life is? Do those who try get nothing from it?

  4. #4
    You state you have persevered so much....how long are we talking about here? ....what does this far mean?

  5. #5
    You are spending 15 hours a day drawing lines on previous price action and reading forums? Trading is as tough as you want it to be.

    If you want to review historic price movement, find the tops and bottoms of tendencies and see if you can find what the market's sentiment was, what information was released to begin movement in the opposite direction. Once you know teach yourself what to search for, you're going to be ready to enter transactions in real time; not needing to see the chart.

  6. #6
    Oh, my buddy
    You'd better go out to have a breath rather than starting threads only with large title like this.
    If I had been you, I'd look for good traders and share ideas with them to found greater egies.
    There are many useful thread within this forum, so read them .

  7. #7
    You should study the recent market movement, and connect the highs and lows of the trend with fashion line, but make sure you don't wind up painting the whole chart. Only major support and resistances needs to be connected. Concerning the fundamental aspects, one should be able to know various fundamental aspects affecting the recent movement. In order to attain this advantage, one should be conscious of the several economic calenders and should cultivate the habit of studying financial dailies. As and when you start getting the warmth you will become a successful trader.

  8. #8
    Quote Originally Posted by ;
    I understand I left a thread before, but I'm really at my wits end... I have persevered so much, however no matter what I doI keep neglecting. Even when I use price action which people say to be the very best way to exchange, candlestick patterns just work 10 percent of the time, and even though I always trade with the trend, the transactions consistently go in the opposite direction. I really don't know what to do anymore... Is there some system I will study that can make me profitable with the suitable work put in? Since I am rather fed up with price action and just how inaccurate it is....
    If you're struggling then create it simpler.... Move out on the time frame, goto H4/Daily or Daily/Weekly prove you can exchange on these time frames before attempting shorter tfs, many retailers don't release it is the tf they choose that kills their transactions, a short time frame requires a much lesser tolerance and yet more sound to deal with, and larger tf provides increased tolerance and less sound so start there. Pick just one sensible pair to exchange not some exotic or multiple pairs. Master it, then consider moving to lower time frames or multiple pairs.

  9. #9
    In Summary: Don't rush things, find out gradually at your comfortable pace....

    If you dash to master forex trading, then you will get depressed, your brain got stuck and maybe your subconscious would tell you it is impossible, then you would waste your 15 hours each day of viewing charts, since you won't be learning anything....

    Understand what to search for in the charts, see which S/R traces PA could have high probability respecting it, find repeating patterns....
    take notes, review your notes.... rinse and repeat.... You'll get there someday

    Good luck

  10. #10
    Quote Originally Posted by ;
    I understand I left a thread earlier, but I'm really at my wits end... I have persevered so much, however no matter what I do, I keep neglecting. When I use price action which individuals say to be the very best method to trade, candlestick patterns only work 10% of the time, and even though I trade with the trend, the trades always go in another direction.
    Candlestick patterns alone will not help you. Read this:
    http://www.eminiplayer.com/2009/06/l...ul-trader.html

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