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(binned per thread starter's request) Currency Strength with cont

  • #121
  • May 8, 2018 10:28am May 8, 2018 10:28am
Quoting lctrader11
{quote} HA! Good job osjoe! Yeah, I was one of those that shy'd away from CHFJPY...seemed kind of flaky as I looked at it Sunday afternoon...turned out well though. As MRDFX has pointed out a couple of times, and I'm still trying to figure out too... how to use the info we get on Sunday from ScorpionFX and myfxbook throughout the week. My paper exercise from Sunday took me past my daily/weekly goal by Monday afternoon (in spite of London being closed). I am grateful for the paper profit and suppose I should exercise the adage that some people try...
Scorpionfx is good but I have noticed over the last few weeks that all the pairs they recommend are the best % risers/fallers the week before.
I use them still so I don't have to do the research. You don't have to use there pairs as long as you stick to the rules of MYFXBOOK.

Testing is great. You might even found something even more powerful. I test different ideas every day by using myfxbook outlook.
The most violent element in society is IGNORANCE
  • #122
  • May 8, 2018 10:31am May 8, 2018 10:31am
Quoting bojack34
{quote} I tried the Computer links before and for some reason I cannot get the charts to load. It's just blank! I'm signed in and everything. Thanks for your help. I'll figure it out.
Sometimes the computer links don't work. All you get is the update flash message. I've been lucky today and got them working.
The most violent element in society is IGNORANCE
  • #123
  • Edited 10:43am May 8, 2018 10:31am | Edited 10:43am
Hey Neil, just wondering how to enter these trades and would like to know if they are good for scalping! Thanks
  • #124
  • May 8, 2018 10:32am May 8, 2018 10:32am
I have noticed some minor pullbacks on USD pairs, most likely due the Trumps upcoming speech.

Market sentiment still favors our positions although we need to be careful.
Truth is like poetry. And most people f*cking hate poetry.
  • #125
  • May 8, 2018 10:42am May 8, 2018 10:42am
Quoting mrdfx
I have noticed some minor pullbacks on USD pairs, most likely due the Trumps upcoming speech. Market sentiment still favors our positions although we need to be careful.
Someone else I follow for Fundamental Analysis just posted that he heard on Ransquak that Trump is NOT withdrawing from the Iran deal.

EDIT: Hahaha....I just seen the article on the front page of FF. I'm a little late to the part. lol
  • #126
  • May 8, 2018 10:46am May 8, 2018 10:46am
Quoting bojack34
{quote} Someone else I follow for Fundamental Analysis just posted that he heard on Ransquak that Trump is NOT withdrawing from the Iran deal.
I hate politics... Is that good for the USD then. Not sure if to shut my Dollar trades or leave them running...

Edited cause bojack34 edited ..... LOL.. I'll keep them running..
The most violent element in society is IGNORANCE
  • #127
  • May 8, 2018 10:47am May 8, 2018 10:47am
Quoting aking194
Hey Neil, just wondering how to enter these trades and would like to know if they are good for scalping! Thanks
I have never done Scalping. I'll let someone else answer you.. I usually am a long time trader. Days. Weeks etc. Sorry I couldn't help.
The most violent element in society is IGNORANCE
  • #128
  • May 8, 2018 10:49am May 8, 2018 10:49am
Quoting neilgroom
{quote} I have never done Scalping. I'll let someone else answer you.. I usually am a long time trader. Days. Weeks etc. Sorry I couldn't help.
So you would recommend to follow your strategy as soon as the market opens during the week and hold on to em until the markets close in the weekend?
  • #129
  • May 8, 2018 10:49am May 8, 2018 10:49am
Quoting bojack34
{quote} Someone else I follow for Fundamental Analysis just posted that he heard on Ransquak that Trump is NOT withdrawing from the Iran deal. EDIT: Hahaha....I just seen the article on the front page of FF. I'm a little late to the part. lol
I'm now seeing on my Twitter Feed via Livesquak and CNBC that Trump WILL withdraw from the Iran deal. HMM.....conflicting reports
  • #130
  • May 8, 2018 11:01am May 8, 2018 11:01am
Hes definitely withdrawing, unless he changes his mind at the podium while he's speaking, but I wouldn't focus on it too much. On live acct I probably would have already secured profits for the week and closed the trading laptop, if not, set SL in profit and enjoy your day
  • #131
  • May 8, 2018 11:05am May 8, 2018 11:05am
Quoting aking194
{quote} So you would recommend to follow your strategy as soon as the market opens during the week and hold on to em until the markets close in the weekend?
Yes as soon as the markets open. Monday is usually the best day except for yesterday as London markets where closed for the day.. Sometimes I keep them open all week. it depends on the Myfxbook sentiment (if it changes) or if the Money flow starts changing. If a trade becomes overbought/Oversold. The big guys stop buying/selling to get a cheaper price and lets the price go the other way for a bit. I will close a position then and then open another one when the big guys (The Investment banks etc) come back to the market. I do have a stop loss though just incase but it's quite large at times.

It does take a bit of getting used to to bit its so much better then scalping and nearly 1 in 10 trades is a massive payday.

Try it for a week and see how you get on with it. On a demo only. See if you get any ideas etc to improve your results.
The most violent element in society is IGNORANCE
  • #132
  • May 8, 2018 11:07am May 8, 2018 11:07am
Quoting osjoe2
Hes definitely withdrawing, unless he changes his mind at the podium while he's speaking, but I wouldn't focus on it too much. On live acct I probably would have already secured profits for the week and closed the trading laptop, if not, set SL in profit and enjoy your day
SHITE. I was answering a question and just noticed I lost half my profit on latest GBP/USD trade... I hate you all lmfaooooooooo

A smoke or Brandy is needed. Donald Frump's fault.
The most violent element in society is IGNORANCE
  • #133
  • May 8, 2018 11:08am May 8, 2018 11:08am
Quoting neilgroom
{quote} Yes as soon as the markets open. Monday is usually the best day except for yesterday as London markets where closed for the day.. Sometimes I keep them open all week. it depends on the Myfxbook sentiment (if it changes) or if the Money flow starts changing. If a trade becomes overbought/Oversold. The big guys stop buying/selling to get a cheaper price and lets the price go the other way for a bit. I will close a position then and then open another one when the big guys (The Investment banks etc) come back to the market. I do have a stop...
That's great! Thanks for answering my question! I came across the other thread where you were talking about some paid services to know the bank positions, wanted to know if they're really helpful.
  • #134
  • May 8, 2018 11:13am May 8, 2018 11:13am
Quoting neilgroom
{quote} SHITE. I was answering a question and just noticed I lost half my profit on latest GBP/USD trade... I hate you all lmfaooooooooo
Lol ouch man, take a break on focus on YOU!
  • #135
  • May 8, 2018 11:15am May 8, 2018 11:15am
Quoting neilgroom
{quote} SHITE. I was answering a question and just noticed I lost half my profit on latest GBP/USD trade... I hate you all lmfaooooooooo A smoke or Brandy is needed. Donald Frump's fault.
exactly why you don't want to run your own thread. You're a full time trader. Don't mess up what you got going on! I feel bad for messing you up now, my bad!
  • #136
  • May 8, 2018 11:15am May 8, 2018 11:15am
Quoting jmtini
{quote} Hi neilgroom Yes GBPUSD came down in a hurry! Interesting that it hit the 34 ema on your chart H4 - you're not using MT4 of course. But on MT4 it didn't touch the 34 ema. It's one of my "stock in trade" ema's (yellow line). However on MT4 it bounced off the 200 ema on the 30 minute chart perfectly as well as the pivot resistance at 1.3581. Unfortunately it means juggling the time frames if one wants a perfect bounce off an ema. One never knows which ema is going to be the one! I've had the attached EA for years but unless one is certain...
Of course you are quite right in rather using the 4hr chart to track trend changes and/or change of direction. It's extremely difficult to do so on the lower time frames especially if you're tracking multiple trading pairs. For those that are interested, what I'm doing now is setting up alerts on a VPS either horizontal (using the MT4 platform alert) or ema touch alert using an appropriate indi that sends out an email or push alert to your mobile phone.
  • #137
  • May 8, 2018 11:49am May 8, 2018 11:49am
Quoting bojack34
{quote} exactly why you don't want to run your own thread. You're a full time trader. Don't mess up what you got going on! I feel bad for messing you up now, my bad!
My old stupid fault mate... Even my wife says. Neil you're a man, you can't do two things at once like us women... Think she is right.
The most violent element in society is IGNORANCE
  • #138
  • May 8, 2018 12:37pm May 8, 2018 12:37pm
Quoting neilgroom
{quote} My old stupid fault mate... Even my wife says. Neil you're a man, you can't do two things at once like us women... Think she is right.
She's right. LOL
  • #139
  • Edited 2:44pm May 8, 2018 2:18pm | Edited 2:44pm
XAUGBP = +0.19%
XAUUSD = +0.11%

GBP/USD -0.10%

USD is still stronger then the pound… I’m going to re enter the GBP/USD trade. But keep the lot small (1) and add to it if it goes in our favour again.

Due to my own stupidity I lost half my profit this afternoon but still closed it with a small profit. It was 8 lots a well.. It could of been a lot worse so I'm happy.

Take this as a lesson… I hadn’t used my usual MA2 D1 stop loss as I was distracted doing something else and earlier went for a two hour drive.. I did manage to close it before I was at breakeven.

A lesson to newcomers to forex … ALWAYS practise on a demo account for at least three months before you open a real account. The longer the better. Even with this strategy. I say three months but then open a small real account and use the smallest lot size you can. Its surprising how you trade different with real money.

You will make mistakes... EVEN I DO. What we do is learn from them.. Keep distractions to a minimum.

And note that a real account is so different to a demo account.

EDIT AGAIN. I love to edit.. Set a sell limit just below the SMA 34 on H4 chart (Tradingview chart) The current metrics of the GBP/USD sentiment are holding steady. I will check it every few hours. I'm being safe for the time being. It might go up to around the SMA 34 again. Will do a sell stop somewhere but need a long rest for a few hours.
The most violent element in society is IGNORANCE
  • #140
  • May 8, 2018 2:49pm May 8, 2018 2:49pm
HI Neil....a friendly reminder about showing me how to get BXY (not the CBOE symbol) to show up within TradingView. I've tried all kinds of ways, but it always reverts to the stock symbol. All the other individual currencies show up fine.

Different topic - Aside from the initial ScorpionFX/myFXbook tools, are you using a different currency strength tool/app from Monday on?
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