With Only 180 Minutes a Day for this Forex Crap, How Far Does Luck Go?
Hi I don't mean to step on anyone's toe, but while having other daily task going, 3 hrs is pretty much ALL I can squeeze.
I am open minded, so please feel free to drop couple lines to share some of your thoughts.
Goal, One Goal ONLY
Monthly Gain: 5%-15% Monthly Gain
Maximum Draw Draw: <10%
Profit Factor: >2.00
On the Strategy Side of my Trading
Trade on key news number release
Trade on fundamental events
Trade on momentum
As for the trade thoughts, below is where you may see my notes.
Notes are under "Trade List".
As for other composed trade showcases, feel free to visit my blog site.
Carry trade on daily, hold as far as it goes
Swing trade on 1h - 4h, hold NO longer than 5 days
Scalping trade on 1m - 30m, close before 0:00 GMT
Carry/Swing Trade Short Option
EURAUD / GBPAUD / GBPNZD
Carry/Swing Trade Long Option
AUDUSD / AUDJPY / USDJPY
Swing/Scalping Trade Option
USDJPY / EURUSD
Oh, this is how my trade station looks like
Okay now... let's see how far my luck goes.
Got the explorer and poll posted as well.
Let's have some fun!
Depending on when those 180 minutes are you could go two ways.
1. Find a good scalping method were you take 5-8 pips 3 to 5 trades (remember to include the spread).
Use high leverage - 1 Standard Lot ($10 dollars per pip) x 5 pips = $50 x 3 trades = $150 per day.
2. Trade a high time frame like 4 hour or Daily. You can watch several pairs for setups. Set pending orders with stops and monitor daily. Should take about 60 minutes to analyse and manage 6-8 pairs.
Just a thought.
Good luck and happy pips!
180 minutes at full concentration should be enough for a day.
lower the time frame to M15 or M5.
High lot size ( standard).
your hand on the mouse, take profit after every 15 pips and
loss at 20-25.
You should manage a couple of winners maybe upto 100 pips daily.
That should be enough cash for three hours work.
I just had so much bad experience to let the loser RUN in the pass sigh.
another market watch day.
Place your stop loss when opening the order,
you can omit the take profit and trail you
Well, 3 hours is enough time to make good amount of money from forex. If you can't give lots of time in trading, you can do position trading, which is pretty handy for busy guys, or you can set up pending orders not just with price also with times, many broker has that kind of pending orders. Forex has total 15 types of orders including off line trail stop. So, you can use it according to your needs. You can set up mobile price alert or news alert too. No need to stick in front of computer all the time. Be free!
not 3 hours but 3 minutes are enough,see this: (simply place buy order by first touch and close above level and sell order by first touch and close below level on 4h tf,with sl and tp@next level)
1.BUY@1.3283, SL@1.3163, TP@1.3403 =>TP hit
2.BUY@1.3403, SL@1.3283, TP@1.3523 =>TP hit
3.BUY@1.3523, SL@1.3403, TP@1.3643 =>TP hit
4.SELL@1.3643, SL@1.3763, TP@1.3523 =>TP hit
5.SELL@1.3523, SL@1.3643, TP@1.3403 =>TP hit
6.SELL@1.3403, SL@1.3523, TP@1.3283 =>TP hit (SL failed by 3 pips)
7.SELL@1.3283, SL@1.3403, TP@1.3163 =>TP hit
8.BUY@1.3163, SL@1.3043, TP@1.3283 =>TP hit
9.SELL@1.3283, SL@1.3403, TP@1.3163 =>TP hit
10.SELL@1.3163, SL@1.3283, TP@1.3043 =>TP hit
11.BUY@1.3043, SL@1.2923, TP@1.3163 =>SL hit (TP failed by 2 pips)
12.SELL@1.3163, SL@1.3283, TP@1.3043 =>TP hit
13.SELL@1.3043, SL@1.3163, TP@1.2923 =>TP hit
... and now BUY@1.2923, SL@1.2803, TP@1.3043...
Made several mistakes and lost all gains from earlier, and guess what happened next?
I enlarged the risk by 10 times on the AUD/JPY 100.00 mark faded away trade... and won.
my luck stays today...
1h bar closed above 1.300 7 minutes pass the clock.
I see what's going on here, Sam.
Love how friends here vote for 2nd option.
Make me laugh, but maybe they see something i don't see.
thanks for the vote tho
If it's crap why even bother, go do something else pal.
But if I quit today, I quite everyday in my life. And this is not my ego talking.
Updates some areas in the first post including,
and I am calling the week.
Too early for a GBP rebound while AUD is still running strong.
Took the chance short it at 1.4600 and target 1.4400
Worked well this time.
Short and Long at GBPAUD 1.4550 zone
Speaking of which, 15% monthly target is hit, I would probably cool off a bit till April.
Pocket 8% this week.
Probably will continuing longing the GBPUSD pair next week after it pass 1.5200 this morning.
Have a good weekend.
+7%, one hella home run today
Following up on the recent USDJPY move,
USDJPY 500 pips slide ends with a better than expected NFP today 6/7/2013.
Saw this 500 pips drop coming on 5/31.
[highlight=rgba(255, 255, 255, 0)]Latest trade on 100 pips USDJPY slide last night.[/highlight]
[-webkit-auto][highlight=rgba(255, 255, 255, 0)]http://junestormblog.com/usdjpy-100-pip-on-eur-section/[/highlight][/-webkit-auto]
You seem to be doing fine without any advice... Good luck...
So here's a better than expected AU job report. And I am thinking about a possible AUDUSD comeback. Any thought?
So far how is the 180 minute trading day working for you?
This has nothing to do with luck.There is no luck.Just you.Only you can do it. Keep it going.
Wish you many many Green Pips!
It was interesting to see the photo of your trading screens. You have plenty of indicators there, though I can't see exactly what they all are. For myself (and doubtless my approach was and is completely different from yours, and I don't suggest that says anything either good or bad about either of us - it's just "how it is") I didn't manage to be steadily profitable until I learned to give up all those indicators.
AUDUSD continue rallying through the 0.9600 level. Here is another trade on the 0.9600 level, 50 pips breakout.
Moving to my new trade home office. No trading till next week. Tks and good luck.
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