This thread is about my everyday trades and the way I do it. As anyone I've been using several tactics and strategies before being confident enough to become a full time trader for some years now. My way of trading is somewhere the sum of all what I've learned, and the big part of what I have learned is knowing "what not to do neither to believe".
I also want to say here that this thread is a duplicate of another one I am posting on another forum not oriented Forex. That one was started earlier, so I have to adapt the content to have them synced.
Why I am posting here is because a Trader is lonely and needs to share. And be assured I have nothing to sell.
I am not willing to write pages about the way I trade nor to play the teacher but simply tell on what, in my view, the trade I am taking is based on. This thread is not a signal provider and those who use it as such do so at their own risk. Keep in mind that some risks are easy to take or to absolutely avoid depending on how you’re capitalized. And what I do believe is that a successful way of trading must be compatible with your personality and this is above all the skills you can have.
The way I see it…It’s more like a mindset then a strategy. I don’t believe in strategies; anyway the broad idea is below:
CORE POSITIONS
1: Every weekend and Mondays I adjust my mind on the broad picture after reading researches, articles and checking global macro data and forward positioning. From this I decide if I am bullish, bearish or neutral on risk or on any given instrument or currency (ccy).
2: On weekly and daily I spot where are the big tech levels, S/R, big fibs, 200DMA.
3: Then I place my pending core orders with no stop, no target; or I cancel /close positions not in line with my forecast anymore.
ADDING TO OPENED CORE POSITIONS
1: Every trading day in the morning I make up my mind on the prevailing sentiment: Risk on/off, neutral, wait and see, is it going to change…And what the market is focusing on (be well informed).
2: I spot intraday tech levels, liquidity distribution and stay informed on participants positioning (specs, real money ..).
3: When I know if I am going to add to a core position, I decide on the timing by knowing what is on the path: possible catalysts, data releases,events, press conferences, meetings, fixing, opening/closing bells.
4: Then I place my pending orders with a target (partial or full) and a stop all this based on liquidity distribution (stop clusters and orders flow dynamics), and catalysts (events). This to get quickly away from my position when triggered.
5: I f it happens that some events can modify my core views, I cancel/close the concerned positions.
TACTICAL TRADES
My tactical trades are not based on adding to core positions, though they can. I base these on news releases and market dynamics (news trading is part of the tactical trades). Although I don’t often use Tactical trades since I need time to manage my core positions and stay informed, they allow me to trade counter-trend on any instrument I am informed about and are the funny part of this job. Some periods are very suitable to tactical trades like now in this pre-Fomc release where participants are repositioning themselves and some using all they know to drive the market. I will explain the way I see these opportunities as they show up.
That's it.
Please understand that I will keep it short and won't answer questions since I will explain why I am taking this or that position and seeing the market that way.
Thanks.
I also want to say here that this thread is a duplicate of another one I am posting on another forum not oriented Forex. That one was started earlier, so I have to adapt the content to have them synced.
Why I am posting here is because a Trader is lonely and needs to share. And be assured I have nothing to sell.
I am not willing to write pages about the way I trade nor to play the teacher but simply tell on what, in my view, the trade I am taking is based on. This thread is not a signal provider and those who use it as such do so at their own risk. Keep in mind that some risks are easy to take or to absolutely avoid depending on how you’re capitalized. And what I do believe is that a successful way of trading must be compatible with your personality and this is above all the skills you can have.
NEITHER TECH NOR MACRO
The way I see it…It’s more like a mindset then a strategy. I don’t believe in strategies; anyway the broad idea is below:
CORE POSITIONS
1: Every weekend and Mondays I adjust my mind on the broad picture after reading researches, articles and checking global macro data and forward positioning. From this I decide if I am bullish, bearish or neutral on risk or on any given instrument or currency (ccy).
2: On weekly and daily I spot where are the big tech levels, S/R, big fibs, 200DMA.
3: Then I place my pending core orders with no stop, no target; or I cancel /close positions not in line with my forecast anymore.
ADDING TO OPENED CORE POSITIONS
1: Every trading day in the morning I make up my mind on the prevailing sentiment: Risk on/off, neutral, wait and see, is it going to change…And what the market is focusing on (be well informed).
2: I spot intraday tech levels, liquidity distribution and stay informed on participants positioning (specs, real money ..).
3: When I know if I am going to add to a core position, I decide on the timing by knowing what is on the path: possible catalysts, data releases,events, press conferences, meetings, fixing, opening/closing bells.
4: Then I place my pending orders with a target (partial or full) and a stop all this based on liquidity distribution (stop clusters and orders flow dynamics), and catalysts (events). This to get quickly away from my position when triggered.
5: I f it happens that some events can modify my core views, I cancel/close the concerned positions.
TACTICAL TRADES
My tactical trades are not based on adding to core positions, though they can. I base these on news releases and market dynamics (news trading is part of the tactical trades). Although I don’t often use Tactical trades since I need time to manage my core positions and stay informed, they allow me to trade counter-trend on any instrument I am informed about and are the funny part of this job. Some periods are very suitable to tactical trades like now in this pre-Fomc release where participants are repositioning themselves and some using all they know to drive the market. I will explain the way I see these opportunities as they show up.
That's it.
Please understand that I will keep it short and won't answer questions since I will explain why I am taking this or that position and seeing the market that way.
Thanks.
Rien ne sert de courir il faut partir à point.