Remember Japan is on a Bank Holiday today, folks.
Trading is as simple as 1-2-3
- #9,883
- Apr 29, 2020 2:53am Apr 29, 2020 2:53am
- Joined Apr 2011 | Status: Trader | 3,454 Posts
Long CF +5 locked
- #9,884
- Apr 29, 2020 2:59am Apr 29, 2020 2:59am
- Joined Apr 2011 | Status: Trader | 3,454 Posts
{quote} I'm no statistician, the only expectancy I have is the same one my line boss used to have - that I'll have more money in my account at the end of the day than I did at the beginning.
- #9,885
- Apr 29, 2020 3:02am Apr 29, 2020 3:02am
- Joined Apr 2011 | Status: Trader | 3,454 Posts
Remember Japan is on a Bank Holiday today, folks.
- #9,887
- Apr 30, 2020 12:16am Apr 30, 2020 12:16am
- Joined Apr 2011 | Status: Trader | 3,454 Posts
Long CF +5 locked
- #9,893
- Edited 5:47am Apr 30, 2020 5:31am | Edited 5:47am
{quote} Be careful of doubling up on a currency - in this case GBP. Makes no sense. If it goes your way, hey, great - but if it goes wrong, you've just doubled your loss.
I'm at the point now where I seem to remember myself being every time I've given forex a crack over the years i.e. I'm fairly happy with mechanics of "system x" but now it's getting to the 'feel' part and understanding PA to start turning profit i.e. I yesterday was a bust for me with that train of EG, and GU today headed north similarly, but it stalls after 2 good bull bars - the question in my mind is how to develop a feel for when one is potentially stalling and the other is carrying on, and the only answer I could come up with is that the information that will develop my feel for this has to be in the lower timeframes.......
.....so......this hour GU/EG & GBPCHF were setting up, looking at the swings of each in 1M, EG seemed to be the one that was running out of steam a bit more than the others, so gave it a try. Not convinced it had stalled completely however we'll see - I'm in the trade, and we'll let it pan out.
EDIT
Well....that's +5 anyhow so far
- #9,895
- Edited 9:59am Apr 30, 2020 8:02am | Edited 9:59am
Long on EG
Edit
It's meandering a bit......to be fair both markets coming towards the end of their day so probably not the most sensible trade! We'll see if it shuffles up enough.
Edit....closed it at BE
Edit.....annnnnddd, away it went in favour
Edit
It's meandering a bit......to be fair both markets coming towards the end of their day so probably not the most sensible trade! We'll see if it shuffles up enough.
Edit....closed it at BE
Edit.....annnnnddd, away it went in favour
- #9,899
- Edited 12:29am May 1, 2020 12:11am | Edited 12:29am
In on GU and UC, +5 on both.
Options for me were EG, UC, GU and EU but 1M appeared strong on EG & EU so stayed out of those. I know UC markets are closed, but such strong move this morning tht I felt it was fair game.
EDIT - 2nd positions both stopped out at BE+1. Staying out of EU saved a stopout this hour.
Watching 1M, what I actually traded on USDCAD was the 1M pullback and, looking at depth of the previous two, I can see how I could rationalise the same trade again with more confidence in the future.
Options for me were EG, UC, GU and EU but 1M appeared strong on EG & EU so stayed out of those. I know UC markets are closed, but such strong move this morning tht I felt it was fair game.
EDIT - 2nd positions both stopped out at BE+1. Staying out of EU saved a stopout this hour.
Watching 1M, what I actually traded on USDCAD was the 1M pullback and, looking at depth of the previous two, I can see how I could rationalise the same trade again with more confidence in the future.