First Post!

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joec2323
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First Post!

Postby joec2323 » Sun Apr 25, 2010 7:20 pm

Well after several months I have finally finished reading NLA (several times), MO's Micro, The Weekly Crash Zone, and DTB. It is amaing the amount of invaluable information that is freely given in this form. For that I'd like to start off my thanking TRO, MightyOne, ES/PIP, Dragon33 and everyone else for what they have shared.

I found Kreslik when I was researching stocks and discovered TRO through Muddy on Green on the Screen. As I was testing the filters he created on SF I discovered this forum and my eyes were opened to the world of Forex. I had never considered investing in anything besides stocks before so it has been quite overwhelming researching everything since then.

The last month or so I've been trading Demo on MT4 and have had decent success with ZL, although I'm sure it'll be different live. It's the one trading method that I keep coming back to and seem to get more than others. With so many techniques available I am taking the adivce I've seen several times and am just focusing on one until I master it.

I guess my biggest question or request for advice is how to manage being a part time trader while working 8am-6pm US pacific/mountain time. I have found it more convenient to follow the market and demo in the evening during the Asian session, but there isn't much activity and I certainly don't see the type of moves that I see during the rest of the day. Should I just wake up at 4am and get a few hours inbefore work? Any advice from others would be greatly appreciated!

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bredin
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Postby bredin » Sun Apr 25, 2010 7:38 pm

Welcome to Kreslik :)

As someone who juggled trading around work I can say that its not easy. If you really have the desire to be a trader then either sacrifice some sleep to trade around the london open, or trade longer timeframes with pending orders.
On the other hand if youre trading the asain with sucess already then you could just build up your position size and keep doing what youre doing.

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Postby tmanbone » Sun Apr 25, 2010 7:46 pm

Welcome. I asked the same questions. TRO advised one method one pair until you figure out whats going on. Watch the eur/jpy during the asian. There will be enough movement for you to test your methods. You can figure out if you want to change your sleeping habits and trade other sessions as you progress. The overwhelming part will start to seize as you begin to learn. Be prepared for a long study; slow and steady wins the race. You're TRO's neighbor. Cheers,
Last edited by tmanbone on Sun Apr 25, 2010 10:51 pm, edited 1 time in total.
"The simplicity of the markets is it's greatest disguise"

T

joec2323
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Postby joec2323 » Sun Apr 25, 2010 8:10 pm

I've acually gotten a lot of both of your posts as well so thanks again and thanks for the quick replies!

I have been following several pairs during the evening and trying to pick one to exclusively follow so I'll focus on eur/jpy this week and see how it goes. At first I kept getting distracted every day with a new plan and quickly realized I wasn't going to go anywhere without choosing a method. ZLs just make sense to me for some reason so that's why I am choosing that to begin with. I still look at this quote from MO in NLA a few times a week as motivation:

"What are zero lines and what is the mighty zone as you know it?

Are you aware that you are taking advantage of a psychological weakness that is causing a trader to injure themselves in the same way over and over again?

That is the real secret to trading if you ever knew it...

To be able to see right through the computer screen, past the price action, and into the very mind of your opponent.

I see your greed and I see your fear
I see how you rationalize your trades and I see your stops
I see how you cling to the movement of the illusory candle and how it makes you feel.
I see your hopes and dreams being crushed and I see how it will happen.
I am waiting for you...I am waiting for you as Death himself waits for the harvest.

Now what do you SEE?"

It's kinda scary knowing there are traders like him out there! I've got a long way to go...

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tmanbone
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Postby tmanbone » Sun Apr 25, 2010 11:05 pm

One of TRO's quotes FOCUS = follow one course until successful. MO's teaching you to look beyond the candle, zoom out and think. Follow the continued teaching here: http://kreslik.com/forums/viewtopic.php?t=2184&start=0
"The simplicity of the markets is it's greatest disguise"



T

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joec2323
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Postby joec2323 » Mon Apr 26, 2010 12:56 am

Thanks for the direction. After finally getting through the NLA I wasn't exactly sure what follow. Guess I know what I'll be doing for the next few weeks :)

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