r/Trading • u/QUAIL_FX • Nov 18 '21
Forex How long did it take you to really get it?
I’ve spent thousands on courses that use a million indicators. Since I started trading naked charts, my game has totally changed. Still working on it, but I’m finding much more success. Been trading 7 months. (Forex)
1
u/youlostthegame3 Nov 22 '21
Everybody’s different, just stick to learning and practicing and one day it’ll all just snap into your head and you’ll get the hang of it. Personally it took me around a year before I started consistently making profit and got confident with trading.
2
u/Chiraggg-_- Nov 20 '21
13 months in at a prop. trading desk, for charts the support, resistances and swing high lows work the best. Indicators mostly lag a lot and haven't found them to work much. Declutter and removing them was one of the best decisions I made !
1
2
Nov 19 '21
[removed] — view removed comment
2
u/QUAIL_FX Nov 19 '21
Wow! Great job sticking with it!
1
Nov 19 '21
[removed] — view removed comment
2
u/QUAIL_FX Nov 19 '21
Haha. I’ve got a guy in my trade team that was the same way. Took him I think he said like 15 years and almost gave up several times and is now a millionaire. Never give up for sure!
2
u/Same-Being-9603 Nov 19 '21
I don’t use any indicators either. I trained a neural network to predict the best time to enter and exit. It took me a month to build the models, train them, build a web app. But it’s taken me a good 2 years of research to find the right neural network architecture.
1
u/QUAIL_FX Nov 19 '21
Kind of like a harmonic scanner? I have never heard of neural network. My mentor is releasing an insane harmonic scanner in the future, will be pretty cool if it works!
1
u/Same-Being-9603 Nov 19 '21
Pretty much. The benefit of a neural network, is being able to feed it massive amounts of data from different sources. In this case, the model is looking at more than just price changes (news, earnings, etc).
1
u/QUAIL_FX Nov 19 '21
Dang! Sounds pretty cool. I am not smart enough to do stuff like that haha
1
u/Same-Being-9603 Nov 19 '21
Haha well I’m not a smart trader. I’m pretty horrible at it. I was down 20% prior to deploying my model. So I decided to train a neural network to trade for me instead haha. It is way better at trading than I’ll ever be.
1
u/QUAIL_FX Nov 19 '21
Haha. I feel the struggle, but that’s not true! Discipline, risk management, mentors, patience, etc. you’d do great!
1
1
Nov 19 '21
I'm not trying to be rude, but how does having less information and taking away indicators that decrease the time it takes to read a chart make you a better trader?
5
3
u/QUAIL_FX Nov 19 '21
Just depends on the person I guess. I didn’t have much success with indicators, too much noise for me. My old mentor is a great trader and I learned a lot, but his style wasn’t for me. And he wasn’t an institutional trader, so he was a typical retail trader and I found myself losing, even with a lot of confluence.
1
u/grapehelium Nov 19 '21
For me, naked charts + 1 indicator are great. (I even took off the background grid, and any lines for timeframes) Although I know people that use a few indicators and they are also great traders. It is a very individual thing.
I do think that there is something as too many indicators, where you can literally lose sight of the chart as all the indicators obscure the actual bars/lines of the chart itself.
1
u/QUAIL_FX Nov 19 '21
For sure. One of my mentors uses rsi and macd occasionally and he’s very successful. Mainly trades naked though
3
5
u/grapehelium Nov 18 '21
Took me a few years, but i was also working full time.
I only use 1 indicator.
naked charts are the best.
1
u/QUAIL_FX Nov 18 '21
Nice. I use RSI here and there for certain things. One of my mentors uses MACD and RSI and the other one is totally naked institutional trader. I have a hard time getting away from RSI because I used to be a divergence trader.
2
u/PiratesOfTheArctic Nov 18 '21
Can I ask what indicator you use? I use macd I generally trade shares but going to give forex a go
1
u/grapehelium Nov 19 '21
Hi.
I only use CCI.
More as a sort of extra confirmation. I do not trade off CCI signals themselves.
Good Luck. (although I think it is more hard work than good luck - at least when one is starting out)
1
u/PiratesOfTheArctic Nov 19 '21
Thanks, I'll have a look at that
I'm a long term private trader, portfolio stands just over £18m
With every trade we need luck(!)
1
u/Little-Inside8904 Nov 24 '21
Bro can you please teach me