Hei davit, hows it going?
what do you think about AUDNZD I bought @ 1626, do you trade at this pair?
what do you think about AUDNZD I bought @ 1626, do you trade at this pair?
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DislikedHei davit, hows it going? what do you think about AUDNZD I bought @ 1626, do you trade at this pair?Ignored
Disliked{quote} Hi I am doing great so far. 46wins 4losses this month 92% winning rate. No I don't trade Aussie crosses.EC UC GU is plenty enough.Looking at the chart and lot of red news coming up next 2days it seems plausible long to me. My 1st instinct is NO trade for me. {image}Ignored
Disliked{quote} that's was great and awesome , good for you okay now i currently looking to close it and put stoploss @ 5980 hopefully it will going up before the news come.. btw thanks for your insight..Ignored
Disliked{quote} Be patient.Wait for trades to come to you.I have my 10limit shorts on EC and UC and I don't even blink.I'll wait until triggered. Waiting is strategy as well. Please read this article What Crocodiles Can Teach You About TradingIgnored
DislikedI had long time I didn't post anything. I was taking a course on price analyze. Very good, may doubts covered, new things learned. May, June and July were not good for me due to over-trading. But since last week Im taking it easy. Im posting a few pics of last weeks trades. On MT4 I use demos but I put the same trades on my real using another platform. I have the profits defined as "points".Ignored
I monitor all the majors and major crosses by groups on 4H. Ex.: All the euros, all the francs, all the pounds, all the yen, all the dollars, and so on... This way I may have an idea of the “relative strength” and “correlation” between the pairs. I chose the one that looks the stronger and the weaker one. After that, I chose the better one to trade… I also monitor the commodities but Im focusing more on gold. You should try to look the gold. I do this: I have 2 monitors and the laptop; in one monitor I scan the pairs, the other monitor is for the commodities only, the laptop is for the trading platform (real) and any other thing.
David, I thought that you were already a fulltime trader. I over trade (my mistake) because I want to be “free” from the job. I feel discourage many times when I spend my time working for a company when I could be using my time for myself. Well, I have to take it easy and relax, other way Im going to rip off my money. Im going to do as you say “Just wait for my moment”.
Here are some pics of the trend change patterns I use to search. I think they are very simple to understand. I look for those patterns on 4h, confirming on 1H. On daily (or 4h) might look like a “hammer or inverted hammer candlestick”, “Dojis with long tail”, “Engulfing”. You will see it. I hope this is useful for anyone… I have to work more on putting limit orders :-p like you do! I usually put more stop or market orders.
DislikedI monitor all the majors and major crosses by groups on 4H. Ex.: All the euros, all the francs, all the pounds, all the yen, all the dollars, and so on... This way I may have an idea of the “relative strength” and “correlation” between the pairs. I chose the one that looks the stronger and the weaker one. After that, I chose the better one to trade… I also monitor the commodities but Im focusing more on gold. You should try to look the gold. I do this: I have 2 monitors and the laptop; in one monitor I scan the pairs, the other monitor is for the...Ignored
Disliked{quote} FXRetro If I may suggest to add what you are doing some fundamental,news data as well.I go daily every related news and get a feel what is coming up. Markets react to News and then that reflect on the chart.To me charts are footprints of news,mass greed and fear psychosis in concert with Elliot Wave and Harmonics. I like your approach but you need to maximize your gains.I place limit orders where I know if triggered I'll be in great position usually on news spikes.I can't tell you how many times I woke up from sleep already in profit. I...Ignored
Disliked{quote} Thanks david, Im going to read it. Yes, I must work with limits orders a lot more. It is better I think. About the news I check it but I don't "listen" too much because I have seen lots of time that the news say something and the market react the other way. After all the market is manipulated but the "guys with the money" (the guys who made it). Then I just wait after the reaction. I also look at support resistant levels as you do... Question, How do you time the moment to place your limit orders? How or when do you know where to place...Ignored
Disliked{quote} Its a good question about where.I simplify it by placing in round numbers on every 50pips.I trade differently.I may be in the red after triggered but I wait for PA to come down.Decision to go long or short should have solid reasoning before even placing 1st order hence if I am long say on Aussie at 9150 ,91and I am in the red at 9068 I won't close 9150,91 because to me that is averaging in the price. If you take your regular lot 1 unit and divide into 4 mini units then place them in 50 or 25pip increments then your average position is vastly...Ignored