Few beliefs which constitute my engagement in day trading:
Market is always right, I am the one not able to understand what it tries to signal me.
Trading very selectively.
Never place a trade if under any sort of emotion - even if my belief is that the trade will turn out 100% success
Never regret a foregone profit, never worry about the loss - let the proper money management techniques take care of the worries
Not try to analyze market from the fundamental point of view - except to stop trading during big news releases. Too many aspects of fundamental analysis make it unattractive for a day-trader like myself.
Trading is a business of probability, no one can ever know the next price tick, we should rather try to concentrate on trying to predict what is highly likely and what is less probable to occur - but u can never know
I use no indicators, only pitchfork and support resistance. I believe that as indicators are all derived from price they can't predict what the price is likely to do better than price itself. Very moderate trader, trying to earn consistent results. Have been trading fora while now but due to other life commitments didn't have as much tine for trading. My account is hooked up to the forexfactory monitor thingy, feel free to criticize/comment, I believe that all of your input will eventually benefit me and you as well.
Market is always right, I am the one not able to understand what it tries to signal me.
Trading very selectively.
Never place a trade if under any sort of emotion - even if my belief is that the trade will turn out 100% success
Never regret a foregone profit, never worry about the loss - let the proper money management techniques take care of the worries
Not try to analyze market from the fundamental point of view - except to stop trading during big news releases. Too many aspects of fundamental analysis make it unattractive for a day-trader like myself.
Trading is a business of probability, no one can ever know the next price tick, we should rather try to concentrate on trying to predict what is highly likely and what is less probable to occur - but u can never know
I use no indicators, only pitchfork and support resistance. I believe that as indicators are all derived from price they can't predict what the price is likely to do better than price itself. Very moderate trader, trying to earn consistent results. Have been trading fora while now but due to other life commitments didn't have as much tine for trading. My account is hooked up to the forexfactory monitor thingy, feel free to criticize/comment, I believe that all of your input will eventually benefit me and you as well.