Do you get frustrated looking at your charts?
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    Do you get frustrated looking at your charts?

    Hello friends,

    As a professional trader, I thought to give you some tips and probably you would share yours too so that it could increase my knowledge too.

    As in the thread title, I asked that "Do you get frustrated when you look at your charts again and again?"

    If yes, then you don't need to be worried anymore, because I know from where the problem is coming.

    The problem is, you sit too much in front of your screen. 3-5 hours are too much to sit in front of your charts. Any normal person could start to be frustrated when they starts to spend too much screen-time as you do.

    The key or a solution to this problem is really simple. You just need to be:

    - Less worried about market.
    - Believe that you have in your luck, it is yours only. No one can take away it from you.
    - Check the market few times a day, each time, you can spend 5-10 minutes to your charts.
    - Check if your edge is presented in the market? if not, then walk away. Usually, waiting for your edge to come on charts by sitting many many hours in front of your charts will bring failure to your trades.

    These are only few guidelines learnt from my 5 years of trading experience, and I hope that we all would discuss many many points in our comments, its just a start for discussion. Lets go in-depth!

    PS: Some fellow posters might think that why I am here if I am a pro, right? Can't I fund my account with my own money? Well, the answer is straight forward, I am here to spend my time, and if I am going to earn for spending my leisure time with you, then what is wrong? It cannot change any fact but it will be beneficial for me and even for you because good discussions only brings happiness and knowledge. i do not, and wouldn't argue with anyone here just bcos I don't like to mess the purpose of discussion.

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    Last edited by princewahaj; 03-16-2015 at 01:22 AM.

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    Looking at the forex trading chart could be very boring at times, but the way the trader is looking on this matters so well. If you are the kind of traders that relies on solid long term trading or intra-day trading on per sessions, I do not think it should affect you. But staying on the chart for almost the whole day is never a good idea.

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    Quote Originally Posted by cozard007 View Post
    Looking at the forex trading chart could be very boring at times, but the way the trader is looking on this matters so well. If you are the kind of traders that relies on solid long term trading or intra-day trading on per sessions, I do not think it should affect you. But staying on the chart for almost the whole day is never a good idea.
    Yeah some time it could be boring for trader's but we can't forget about the patience term in forex. we need a lot of patience in forex nobody can make money every day or in few hours regularly. Even some time we can loose our fund, I think its not matter much that we are a short term trader or a long term trader both required patience

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    Quote Originally Posted by cozard007 View Post
    Looking at the forex trading chart could be very boring at times, but the way the trader is looking on this matters so well. If you are the kind of traders that relies on solid long term trading or intra-day trading on per sessions, I do not think it should affect you. But staying on the chart for almost the whole day is never a good idea.
    Very true, and indeed time-frame of chart on which trader is looking at, also matters. Small time-frame sucks! Many noobs or even middle class traders thinks that just because trading with smaller time-frame will bring many opportunities so that we could earn more than a pro, but when they get disappointed, they starts to blame their luck or their mentors!

    Trading with big time-frame is a key to success, no matter if someone believe on it or not but sooner or later, he or she would surely need to learn from his lessons and then only they might be successful. Here, I am not talking about short-term success, I am referring to long term success like years. Months can be profitable and in a week or in a day, can be wiped-out too.

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    Quote Originally Posted by Earnperfect View Post
    Yeah some time it could be boring for trader's but we can't forget about the patience term in forex. we need a lot of patience in forex nobody can make money every day or in few hours regularly. Even some time we can loose our fund, I think its not matter much that we are a short term trader or a long term trader both required patience
    Losses especially stop out of account gives a lot of frustration to me. The stop loss is there to prevent us from losing everything. But if you have the time to spend monitoring the market, you may not use a stop, but just close it manually. But if the time is not there, it may be necessary to put a stop loss order.

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    Quote Originally Posted by Earnperfect View Post
    Yeah some time it could be boring for trader's but we can't forget about the patience term in forex. we need a lot of patience in forex nobody can make money every day or in few hours regularly. Even some time we can loose our fund, I think its not matter much that we are a short term trader or a long term trader both required patience
    You can understand the character and the character pair trading strategy you, so you do not need a long time watching the charts. after entering the market and install the SL and TP, you can turn off the computer. but if you're always in front of the computer, monitor chart, using scalping style, you will be bored

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    Quote Originally Posted by ngalapreceh View Post
    You can understand the character and the character pair trading strategy you, so you do not need a long time watching the charts. after entering the market and install the SL and TP, you can turn off the computer. but if you're always in front of the computer, monitor chart, using scalping style, you will be bored
    Charts do not reveal everything with certainty about the Forex market. But charts do reveal a lot about the market and can help a trader to take the important decisions in his trading like when to make a buy or sell and where to place the stop loss? Looking at charts is never frustrating to me and I dont think we need hours to monitor the charts and arrive at a decisions. For an experienced trader 5-10 minutes is more than enough to know the current market picture from the charts.

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    For most trader especially newbies it is more frustrating to keep on looking your chart especially if the market in a choppy conditions, what is important here is that we know exactly what strategy we are following in our trading, we must always understand that being patient is the key to a successful trading, so if the market is not moving according to our trading strategy then we skip trading, forcing a trade will only give us more loses.

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    " Trading is 70% Psychology, 15% Risk Management and 15% Strategy ! "

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    I get frustrated not for getting loss or winning a trade but for slow market or slow movement of the currency pair I traded. Sometime I see many other pairs are moving fast but the pair I traded isn't moving much or in moving in range of 10/15 pips for few hours. When my trade is in big floating loss I don't keep my eyes on chart but look on my smart phone once or twice in few hours. And it is true that when you are watching the market more there will be a chance to make more mistakes.

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    It is not good to be looking at chart of trading too much, it might make one to be bored or get really frustrated. The chart is good only when the trader can know how to use it, and spending too much time can be really boring sometimes, trading is not all about doing excessive analysis, it is making action on the right matters of trading.

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