The Auto Trader Companion #13
Connecting With Traders On The Ground: Part 1
As you guys might know, we have been sending out emails the past few weeks as an outreach campaign to connect with as many of you in our forex trading community as possible.
The purpose of the outreach campaign through Skype or phone calls is to have a great chat with all kinds of traders regardless of the trading level and experience you might have. This allows us to understand you better, where you are coming from and heading towards as a Forex trader.
This also gives us the opportunity to learn from you, gain invaluable advice and opinions on what is happening on the ground for you as a Forex trader. We get to hear your side of the story and what matters most to you in Forex trading.
The feedback and response have been great, where many of you have been sending requests for a chance to speak with us. This serves as a great chance to get to know us better, who are behind the scenes in the creation of ForexTrailer, ForexGeometry and ForexChartistry.
We are truly humbled by those of you whom have contributed your advice, opinions, your trading experiences. The eagerness to learn and passion most of you have shown in Forex trading has made us feel that what we have been doing thus far is worth all the effort.
Through our Skype and phone calls, we posed a couple of questions to our Forex trading friends to understand more about their Forex trading behavior.
This is an update on some of the questions we have asked.
Out of the many questions, we picked out the 3 main questions with some sub-questions asked regarding Forex trading:
1) Backtesting
Do you perform backtest on your trading ideas?
If so, how do you normally do it?
How important is backtesting to you as a trader?
2) Several Trading Ideas
Do you test out several trading strategies at the same time to find out the most suitable one for you?
If so, how do you handle it?
Is there enough time for you to do it even if you have a daytime job?
Also do you spend lots of time monitoring the market for your current strategy instead of looking to test out new trading ideas?
3) Trading Plan
Do you know what a trading plan is?
What are the components consist in your own trading plan?
How do you go about designing and structuring your own trading plan?
Though to some traders it may be simple as they have experienced these at some stage of their trading journey but for some others it is difficult and perhaps they are looking into an answer to some of these questions.
Whatever the case, all of us are learning as traders no matter what our trading level and experience are.
The responses we have received through the Skype and phone calls are interesting and enlightening in certain ways.
I will share with you some the responses given to us by our community in the next post coming later this week.
In the meantime, what is your take on these questions? Do they apply to your situation as well? Or do you have some other more important trading issues that you are trying to cope with?
Tell us what you think in comments section below.
Also if you wish to engage us in a short call through Skype or mobile to share with us your own trading experiences and challenges, we welcome you to drop us a ticket at:
We will contact you as soon as possible for an arrangement. Your help in providing us your advice and opinions will greatly aid us in developing solutions that is essential in solving trader’s challenges.
Till then looking forward to connecting with you.
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Questions are over my head. I’m more interested in what happens to a trade from second to second, not a year ago or from now.
I’m curious. Many of the books I’ve been reading talk about
‘time to enter’ and time to leave a trade. You can’t do that trading binaries… so how do you select your ‘time frame’ for the most consistent results?
Here are some of my inputs and they are just general guidelines. If your trading strategies involves looking at key support and resistance lines. I’m only sticking to daily charts to determine the key support and resistance levels. Any time frame below daily charts will generate support and resistance lines that may or may not work in the intraday basis. This method of determination could still work even for a intraday traders.
– Warren Seah and Flagforex Team