Can you Succeed like this

If you only used the market phase to judge which way to enter. You use price action for support and resistance along with trendlines to enter and exit the market. if you read individual candles and not the patterns. if you did ONLY this to trade the forex market could you succeed at this?

skiilodge posted:
If you only used the market phase to judge which way to enter. You use price action for support and resistance along with trendlines to enter and exit the market. if you read individual candles and not the patterns. if you did ONLY this to trade the forex market could you succeed at this?

I do use support and resistance with no indicators at all, however reading only individual candles would literally hide the whole picture - why wouldn't I do that? Is that a rhetorical question, or is it indeed the way you trade?

I hope that is not the way you trade.

TheLastBear posted:
I hope that is not the way you trade.

I'm not sure that is even possible. It's like running with closed eyes.

I am quite sure people will try.

I thought the goal is succeeding in forex market, not gamblin!

Connann posted:
I thought the goal is succeeding in forex market, not gamblin!

You are absolutely right.

Connann posted:
I thought the goal is succeeding in forex market, not gamblin!

I like to gamble. All in EUR/USD!!!!

So if you look at one candle at a time? Even when I play two up once a year I wait for the forth flip to put my $5 on the line. For me (this week) it's trending towards price action looking for three one set up. Google price action and spend the week on it. We are in the new traders section and I'm very much a new trader. Look at what the experience people are saying.

skyjack777 posted:
So if you look at one candle at a time?

What information would you extract from one candle? When you're trying to solve a problem, the more information you have, the easier it would be to get to the solution. Therefore, you should look back on several time-frames to get the full picture.

Just my 2c.

The point I was making... In two up even when the first, second or tenth throw is a gamble, they are taken in context against the spinners luck. Trading FX is totally different, as you say the information around the one candle is important. My comment was my way of saying look at what the experienced people are saying and rethink things by googling price action. Again it's a new traders area, a place to learn.

success is really a big deal because need a long time experience with great level of patience .
 for that reason most of the traders lost interest after passing sometime. its a real story

Traders can be successful in forex. Trading should always be done with an open mind and heart. Never listen to other traders who say that this bot is good or this or that indicator is the best. Forex trading should be open to your decisions depending on your judgment.

Success in forex trading depends upon a lot of things, but the main thing is discipline to follow an effective trading strategy. If you are a beginner, you should adopt both long-term and short-term trading strategies because it increases the chances of getting a significant profit.

A good trader is one who is putting the least time and effort and gets the maximum out of it.

Use whichever means allow for you to take the highest probability setups. There is no prize for the way in which you trade. Target one is keeping your capital and target two is growing it. Taking the highest probability setups is the best way to do that. Why handcuff yourself in trying to do that?