Love this post, thank you Xard.xard777 wrote: Sat Dec 31, 2022 10:42 am 2023 will be an amazing year for day traders. Some of us will lose our shirt, while others will compound massive wealth.
It is one thing for someone to take you by the hand and show you how it's done, but the best experience comes from the life lessons we learn through the "school of hard knocks." The mistakes we make that put us down can ultimately make us stronger from the experiences we gain. A wise man once said that the best thing you can do in life is to go bankrupt, not once, but twice (I think it was Alan Sugar). The knowledge we gain from these experiences cannot be explained over the kitchen table; you have to live it and experience it for yourself.
Everything we do in life, we gain from our mistakes - whether it's falling down as a baby, going bankrupt with our first business idea, or watching our spaceship explode on takeoff. These mistakes give us insights into how to do it better next time. That's why I say never give up. Look at what went wrong and come up with a workaround.
The same applies to day trading. We may blow up our accounts, but then we start to correct our mistakes and take fewer and fewer losses until our gains outweigh our losses. We use the power of the internet to join groups of like-minded fellow traders and gain insights into their mistakes as well. Over time, our strategies become honed and the steps we take become fewer and simpler.
This is our growth cycle within our chosen profession. It may take several months, or more likely several years, to gain this knowledge. But once we have it, it becomes second nature and we can do it automatically every day. So don't give up when you fall down. Pick yourself up and be the trader you're cut out to be.
Forex-station.com is a treasure trove of information. Go through all the different threads and glean a wealth of other traders' experiences, strategies, and indicators, which are both free and priceless at the same time.
Xard777.
Happy New Year to everyone!
In January, watch and learn.
In the busiest trading months of the year... February, March, April, October, September, and November, go compound your wealth.
I was just taking a closer look at the ATS indicator from Beatle's Hybrid7. Then read your post and put it together with the trade set ups described in your pic. Looks like some complimentary signals are shared between them.
Search for
Action Threshold Software Walkthrough Video to get a nice run down of the indicator...what's up with youtube wanting you to jump through hoops to download/share a video?
