M15 daytrading EU (M15 daytrading EU) | Foreign exchange EA download- MT4/MT5 resources
Hi
I think I'm going to create a new thread because what I want to post doesn't fit into the format of the old thread I'm using. This template is an amalgamation of a draft of the H4 template I used and other M1 ideas. I decided to meet somewhere in between and made it M15, I just shaped/multiplied the numbers to fit the chart.
I have the idea that someone might want to consider the S/R levels i propose here, the calculations are very general guidelines, stuff i have experienced that there is a use of keeping track of mostly.
I'm undecided on whether to put this thread in the systems section or the discussion section. What I want is discussion, and the "system" is not very systematic, because I won't take a trade just because it conforms to certain "rules". But on the other hand, since the calculations are there, my approach to pricing is still very systematic, so maybe this thread is still appropriate where I put it.
I have no idea how much time I will need to trade and/or publish in the future because my life and the world around us is changing rapidly. I'd rather not trade at all, but I'm not doing it for my benefit.
I think, simply put, these statements are very true:
You need to trade real money first before you can learn not to give in to fear when trading.
Statistically speaking, you probably shouldn't trade real money at all.
Trading methods and trading skills are equally important, but neither of them has any value in itself.
It is essential to develop trading skills and develop a method, even if the method is naked trading. If any of these fail, the account fails as well.
When trading one specific method, some of the things you learn transfer to other methods, and this is what I call skills.
When trading a particular method you will aquire a sense of how price normally looks and what normally follows from what is presented, this is what i call skill.
You can use calculations overlaid on prices to generate visually presented calculations, a matrix, a code with multiple readings. this is what i call method
The Method is what you see on a trading platform over time.
Skills and methods are best not to be confused, people often confuse them and think they are the same and/or if you understand one thing you will understand another. My experience shows this is a big mistake.
Developing good skills takes a long time, longer than most jobs. Developing new arbitrary methods may take a few minutes but may not bring you any benefit. Developing good methods takes a long time, but not so good skills but still a long time.
So the method by itself is pointless and without skills you can't do much with it. This is very, very important, and if you don't have experience, you won't understand how important it is. So if you don't quite understand what I'm talking about here, read this sentence a thousand times and think long and hard about what it means. One of the things it means is that if you apply a method and then you think or say "I did what I was supposed to do, but it didn't work!" then you don't know what you are saying/thinking about, you don't understand what you are doing.
Some people say they have had success using mechanical systems. I can see how you could do this with a super-fast connection, zero spreads, and little or a lot of inside information. Otherwise I can't understand how it is implemented.
I think I'm going to create a new thread because what I want to post doesn't fit into the format of the old thread I'm using. This template is an amalgamation of a draft of the H4 template I used and other M1 ideas. I decided to meet somewhere in between and made it M15, I just shaped/multiplied the numbers to fit the chart.
I have the idea that someone might want to consider the S/R levels i propose here, the calculations are very general guidelines, stuff i have experienced that there is a use of keeping track of mostly.
I'm undecided on whether to put this thread in the systems section or the discussion section. What I want is discussion, and the "system" is not very systematic, because I won't take a trade just because it conforms to certain "rules". But on the other hand, since the calculations are there, my approach to pricing is still very systematic, so maybe this thread is still appropriate where I put it.
I have no idea how much time I will need to trade and/or publish in the future because my life and the world around us is changing rapidly. I'd rather not trade at all, but I'm not doing it for my benefit.
I think, simply put, these statements are very true:
You need to trade real money first before you can learn not to give in to fear when trading.
Statistically speaking, you probably shouldn't trade real money at all.
Trading methods and trading skills are equally important, but neither of them has any value in itself.
It is essential to develop trading skills and develop a method, even if the method is naked trading. If any of these fail, the account fails as well.
When trading one specific method, some of the things you learn transfer to other methods, and this is what I call skills.
When trading a particular method you will aquire a sense of how price normally looks and what normally follows from what is presented, this is what i call skill.
You can use calculations overlaid on prices to generate visually presented calculations, a matrix, a code with multiple readings. this is what i call method
The Method is what you see on a trading platform over time.
Skills and methods are best not to be confused, people often confuse them and think they are the same and/or if you understand one thing you will understand another. My experience shows this is a big mistake.
Developing good skills takes a long time, longer than most jobs. Developing new arbitrary methods may take a few minutes but may not bring you any benefit. Developing good methods takes a long time, but not so good skills but still a long time.
So the method by itself is pointless and without skills you can't do much with it. This is very, very important, and if you don't have experience, you won't understand how important it is. So if you don't quite understand what I'm talking about here, read this sentence a thousand times and think long and hard about what it means. One of the things it means is that if you apply a method and then you think or say "I did what I was supposed to do, but it didn't work!" then you don't know what you are saying/thinking about, you don't understand what you are doing.
Some people say they have had success using mechanical systems. I can see how you could do this with a super-fast connection, zero spreads, and little or a lot of inside information. Otherwise I can't understand how it is implemented.
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