Call me crazy, but I'm seeing a head-shoulder pattern on the GBPCHF daily after I shorted it. Maybe this short will reach 2.3400?!?
We'll see how this pattern works out...
We'll see how this pattern works out...
Working towards CME membership
GRANDPA of MM - Stake 100% EQUITY with 100% SAFETY 3 replies
100$ -->100,000$ (period: 12 months) 207 replies
Gutenberg money printing machine.. 100 to 1.000 to 10.000 to 100.000? 15 replies
HVR 6/100 and 10/100 with a 50% ratio 0 replies
100 pip STOP for a 100 pip Target 7 replies
Quoting ronhickeyDislikedhey whats your overall p/l?Ignored
regards,
Jest
Quoting jest1081DislikedHi Hilmy,
I hope this oculd prolly help you better.
- Choose one favorite currency, a currency pair that you know you're good with. And choose another pair proly a cross type like eurjpy or something, make sure you are not familiar with it. Once your'e comfy, you could proly start to slowly add more pairs.
- Your trade ratio....You trade daily bar right? Time span since this thread started...1mth = 30 days and you already make almost 50 trades...something to ponder, overtrading?
- Im glad you're not worried abt the losses but thats something that you have to take a good look at. Like i said, a system should not be all technical, if you understand price, then only will an indicator be helpful, also, there should be some fundamentals involved. With these, it could make your system a kickass system.
- I also understand that you don't have a real system but if you could give us a brief desc about ur trading syte, it could proly help us help you get along, from there on you should be able to drive forward on your own or proly even teach us a thing or two.
regards,
JestIgnored
Quoting hilmy83Disliked1. I've only been trading for a few months so I can't say I'm good at any currency pair.
2. The purpose of this journal is to test out different techniques within a system. Basically I'm a trend trader. But I need to test out certain things to improve my p/l, %win, etc. By doing 20 trades over 18 currency pairs, I get the best market spectrum to use to test a technique. This way I can quickly gauge if a technique works in a range market (chfjpy) or in trending market (gbpusd). It's all about speed and efficiency. I'm not that clueless to overtrade and lose money
3. Here's my opinion on fundamentals. It's jacked up. I'm a technical trader. Sure fundamentals determine the direction of the market, but technicals determine when to enter and exit. Since I'm a trend trader, all these news gibberish is already priced into a trend and I ride it like it's hot. For example look at my gbpchf, and eurogbp trades. I didn't give a care what those europenas do with teh interest rate, I entered the trades the day before the 'big' news and it's going my way.
4. I started this journal not to seek help. I'm not being arrogant or anything but I'm doing this so I can test out different scenarios MYSELF. Once that's done, I will gather all these information and implement it with my system. If people start throwing out suggestions at me, it just creates confusion and I don't like that.
keep it simple...peaceIgnored
Quoting GreatYvesDislikedI'm 100% technical only too since news are irrevelents in longer time frame, they are just regular waves to me... Small bumps on the road... I eat them all... Miuomy..Ignored