Trading Made Simple Page 4207 Forex Factory

Hands on or hands off

Hi all. I am in a very difficult psychologically situation. I have studied for 7 years to be a day trader. Stare at the charts all day, actively manage, bla bla bla. So here is my struggle.
Off the bat, my goal is to one day be a full time forex trader with no other source of income
Recently I started reading off levels. I go in for 10m per day (while on the crapper in the morning) set up 20-30 alerts on my phone, and then just enter blindly for 1.5 rr during the day. I get about 60% strike rate, more than enough to be popping champagne and living the life. I get about 3-4 setups per day. That is option 1.
Option 1 downside is eventually I get a short like gbpusd this Monday, where I got in for 4 pip stop and could have trailed it for 15RR!
Option 2 is active trading. Sitting at the desk, charting out, following news events, the works. Taking positions, trailing stops to lock profits, the stress that goes with it.
I should be happy with option 1 but it keeps feeling wrong. As if I am cheating. It cannot be this easy, can it? Furthermore, if I go full time to only trade 10 mins per say and make 2-3 R almost every day, what will I do the rest of the time? I am one of those guys raised with the "you have to work hard around the clock" mentality, and I know that does not apply to Forex and trading at all. Nevertheless, 10m per day just feels and sounds weird, and I can't shake the feeling I will get a slap in the face for it. But I backtested. I forward tested. I have been trading it in a micro account for 2 months and it checks out.
Reddit, what is your opinion. Option 1 laid back, or go back to the grinder and do option 2
Edit : correcting typo
View Poll
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This MIT professor uncovers secrets to better investing | MIT News

fintech #trading #algotrading #quantitative #quant #quants #forex #fx #banks #hedgefunds #hft

This MIT professor uncovers secrets to better investing A few years ago, Eric So and a co-author finished a working paper about corporate earnings announcements and posted it on the Social Science Research Network (SSRN). They had found something striking: Corporations telegraph the content of their quarterly financial results via the timing of their earnings announcements.
That is, publicly traded companies have a window of time to announce each quarter’s financials. If they set up an announcement early in that period, it means a good earnings report; if the announcement is scheduled for late in the period, it suggests relatively bad news is on the way. For stock traders, that’s a great insight, as the response to So’s paper confirmed.
“I posted it on SSRN at around three o’clock on a Thursday, and by the end of the day Friday, I had 10 invitations to present at hedge funds,” says So.
That doesn’t happen every time So releases a piece of research, but it does underscore the .....
Continue reading at: http://news.mit.edu/2018/professor-eric-so-investing-1218
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This MIT professor uncovers secrets to better investing | MIT News

fintech #trading #algotrading #quantitative #quant #quants #forex #fx #banks #hedgefunds #hft

This MIT professor uncovers secrets to better investingA few years ago, Eric So and a co-author finished a working paper about corporate earnings announcements and posted it on the Social Science Research Network (SSRN). They had found something striking: Corporations telegraph the content of their quarterly financial results via the timing of their earnings announcements.That is, publicly traded companies have a window of time to announce each quarter’s financials. If they set up an announcement early in that period, it means a good earnings report; if the announcement is scheduled for late in the period, it suggests relatively bad news is on the way. For stock traders, that’s a great insight, as the response to So’s paper confirmed.“I posted it on SSRN at around three o’clock on a Thursday, and by the end of the day Friday, I had 10 invitations to present at hedge funds,” says So.That doesn’t happen every time So releases a piece of research, but it does underscore the way his work c..... Continue reading at: http://news.mit.edu/2018/professor-eric-so-investing-1218
submitted by silahian to quant_hft [link] [comments]

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