iam SHORT AUD
target 0.998
SL @BE+
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Disliked
thought about it too , but decided to let it run..
whateva! freetrade anyhow
cheersIgnored
Dislikedbuy order hit @ 0.9988 for AUDUSD, SL is 0.9962 under todays low, TP is 1.0020 just under another daily pivot level. R:R 1:1.
I'm off anyway, will be back later.Ignored
DislikedHey everyone. Recent grad and aspiring trader here. Looking to learn as much as possible from everyone as I embark on this journey. I've been learning about the markets progressively for the past year and now that school is over I think now is the perfect time to begin with a small live account. I just wanted to introduce myself as I too will be posting my own trades with charts in the near future.Ignored
DislikedMy method is based on Larry Williams' idea of market structure in his book "Long term Secrets to Short Term Trading". Essentially all I do is enter when a short term high/low is broken and trail my stop or get out when a new short term high/low is broken. I use technical stops or a volatility stop based on ATR. My trailing stop is based on a 3 bar low/high. Recently I have been playing with the idea of using 2x standard deviation stops as well.
I started off using longer time frames with this method through backtesting of the EUR/USD for the past 10 years. After I found the results were promising I demo'd it for a couple months and saw good results. I thought to myself, "Hey, if this works on the daily charts it should work on the 5 minute charts" so I started taking historical moves during the overlap of the NY and London sessions for the past 2 months and saw promising moves that this method could have capitalized upon. Although I know results from backtesting should be looked upon with a grain of salt I am confident, in theory, that this should work. I'm open to any suggestions that will make my trading better.
Gdr3k, I noticed in your posts you like to use TP's? do you ever trail your stops by any chance? Anyways, im out!Ignored
DislikedSounds good, I never trail stops as normally the moves I go for arn't that big and yes I use take profit levels, as I prefer to 'scalp' pips between certain areas which I pre determine on my charts, be it counter trend or going with the trend, 10 pips, 20 or 50 in a move or however many pips away the next level is where I feel the price will hit, this way works best for me, I've never really been into longer term trading.Ignored
DislikedJust scalped 13+ pips on EURUSD from 1.2488, price bounced off a pivot level and my target was a weekly support pivot.Ignored
DislikedSome nice calls on here today, should be trading tomorrow and I'll try to chip in with a few of my setups markets permitting.
I use MA's for direction and try to enter with the direction, from Live buyers / selling areas ( S/R ) with a tight SL.
Last week was 11 profitable trades and 1 loserIgnored