Trading without indicators
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I honestly think trading consciously can mess things up while trading, over analysing things especially. Lets say your walking down the street and 2 fine specimens of the opposite sex end up walking behind you, there close and you know there looking at you from behind, soon as you ‘think’ on how your walking you trip over your own feet lol. same thing with trading!
I wasn’t very happy with how long it took today on a lot of the trades to open and close positions! C.M.C Markets is a lot quicker at execution of my orders! I love the pro-real-time charts though but if this continues I might just revert back to C.M.C again. Ill give it a few days and see if it gets any better. I’m only back on the markets a couple of weeks so i’ll see what happens and check out a couple of days scalping on C.M.C. to see the difference.
I hope you all got a few pips today!
Good trading!
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Markets closed, I had a look at the previous week on wall st trading £1 a point on scalp mode, buying and selling manual trading every trade, probably a couple of hours a day (sometimes I lose track of time).
Usually start trading about 11 am if possible get a few trades done then get some dinner and go on again after 2pm to see how the markets moving. No overall target for the days trading, just need to be in profit.
Any day you come out without a loss is a good day in the market. I try not to be greedy when trading because when I do things can go wrong then I’m chasing my tail trying to get back to what I had been up before hand.
I think you can spend too much time in markets looking at charts and different instruments so I just stick to wall street, there are alwase trading opportunities on that market. Big drop yesterday then a big rebound. Granted its not the easiest to trade and there are alwase surprises so its a market to be careful with, the only reason I get away with it is the fact that I don’t know were the market is going and I don’t care either.
If i was on an hour chart it would be different in respects to I’d be looking for 100 point moves and i’d be targeting levels of respect. There are a million ways to trade the market and a million indicators to look at, i’d be there a million years analysing and still be lost among it all.
Just focus on price! its the only thing that matters.
Focus on ‘how it moves’ rather than were its going, that’s the ticket to trading successfully. Play around on demo mode until your comfortable doing this and your trading will improve significantly as mine has.
I’m no expert and I don’t claim to have anything like the holy grail trading method but it just seems to get easier when you eliminate your fixed opinions and beliefs on market direction and eliminate all the smoke and mirror indicators off those charts and fixate on 1 market and the way it moves.
Anyway I’ll attach a picture of 1 weeks trading so you can see for yourself if what I say is true or false.
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Just to clarify
1: Start trading about 11am
2:don’t bother trying to see the long term direction (if our trading the 3 min time frame).
3. Stay neutral with your opinion on market direction (a 6 year old can see the direction on a chart) try to remember that fact.
4. Use no indicators at all
5. stay with the same market they all move different!
6. check out news announcements because they can alter the crowd and direction in a heartbeat.
7. If your fear is too much your amount per point is too much, bring it down a bit and your fear will come down with it.
8. don’t just jump right in soon as your chart opens, watch the way the price moves for 10 minutes or so before clicking the mouse.
9 Just to clarify the ‘way’ the price moves… It doesn’t have to be candle bars it could be any type of price chart. watch the movements of price and you can easily get into a flow with it. It doesn’t take much to get your mind lined up with the price, just watch it. your not going for a lot of points remember.
10. You will know instinctively when to click buy/sell because it just feels right, hard to explain but you will know exactly what i mean after practice.
11. you need to be fast with the orders and shouldn’t be on a trade very long at all.
12. if after clicking the mouse and something in the back of your mind tells you somethings wrong, do not hesitate get out quick and take the small loss and wait for another opportunity, there will be plenty of them.
13. you can’t go bust taking a profit, even a small one, keep that in mind as your trading. Nothing worse that being in profit and then going into a loss your inner voice will torment you for it.
14. Keep your inner voice calm and positive at all times its important. How? My method is this… if something negative pops in ‘I can’t do this’ for example, add 1 word to that negative.. ‘BUT’. but is a critical word and its use is to criticise the negative suggestion you gave yourself. It will send your brain in the right direction away from what you don’t want and towards what you do want.
15. You can boost this with: I can’t do this ‘but’ what if I could? then you can use another word… ‘and’. This word is a linking word it will send your brain looking for another positive suggestion! And to top it off you can follow with ‘because’. Because is a belief word it will confirm and strengthen the positive suggestions you gave yourself and blow that initial negative suggestion right out the ball park!
Example: I cant do this…. BUT what if i could? And if I could i could change my entire life ‘because‘ i could have that long term security and peace of mind to take care of my family.
16. The above is very powerful and I would advise using it every day in every day life it will make you a lot more content if you do.
17. Watch the ‘way’ the price moves, get into a rhythm with it and practice until you can do it naturally and you will gain whatever you desire.
18. Start doubting yourself and your trading and you will get that also.
19. Just hope this helps
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