involved in trading, beyond the profits. But remember, its a marathon not a sprint. Its therefore essential that we embrace these factors that initially attracted us to trading. So if youve planned your day and week efficiently and effectively put on those trainers, plug in those earbuds and enjoy that lonely run.
Retail trading from home can be a lonely activity. Unless youre a manual scalper, then sitting in front of a three screen set up, anxiously searching for price action, is not an effective use of time. Most strangers only ask personal questions to discover where youre at, in relation to your social standing; are you further ahead in the great game of life than they are? Even in the UK, where broadband/wi-fi speeds and network speeds lag many other developed countries, unless youre underground theres little chance of experiencing no connection.
The advance of lightning quick trading platforms hosted on tablets and smartphones, ensures youll never miss trades again. We chose this trading profession as a career path because we visualised where we might be once we become proficient and eventually profitable. If you are such a trader youd have to question the efficiency of such trading methods, given that youre attempting to replicate algorithmic trading methods favoured by high frequency trading firms. Trying to hold a conversation involving a discussion on: spreads, indicators, technical and fundamental analysis, coding your MetaTrader platform, how an STP/ECN liquidity pool works, what slippage is, algorithms, high frequency trading etc., with anyone not involved in our trading world, is generally met with. Therefore it should come as no surprise that trading the markets is of little interest to most folk you accidentally meet, unless you mention your profits of course, then youll witness a different attitude. But the first rule of fight club is we dont talk about trading, and we certainly never discuss the edge weve taken years to perfect with perfect strangers. We discuss trading plans in relation to our trading, but where does a trading plan meet a lifestyle plan? You can set orders to open, close and to trail price.
The djia rises to a new record high for ten consecutive days, as the dollar slips. In order to become a successful trader you must be extremely well organised and disciplined, that discipline can seamlessly extend to organising your trading day into periods whereby you spend your free time effectively. Weve worked tirelessly and smart (not necessarily hard to create: a plan, a trading method an edge and we now convert canadian dollar to philippine peso know it doesnt require hours of screen time to take profit out of the market. In short, theres very little reason to stay isolated, introverted and cocooned in your trading office. By accident, or design weve created free time which we should put to good use. You can set alerts, should price reach certain levels on your platforms, or if an indicator or certain pattern is recognised.
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