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set & forget - daily

  • #21
  • Aug 23, 2010 4:56am Aug 23, 2010 4:56am
Quoting swingtraderf
What I mean by "fade" is "trading against the level" you short at resistance and go long at support.
I see, well i if i did that i would probably loose money, i havent figured out a way of doing that effectively if there even is such a way.
My signature is: "Classified".
  • #22
  • Sep 23, 2010 1:14pm Sep 23, 2010 1:14pm
Quoting maheswara
how about coin toss ,
head go long with 100pips tp/sl
tail go short with 100pips tp/sl

so your the clever jack the lad, eh ? this guy is asking for help and you are being funny. not nice. we were all newbies at one time. obviously some people have no manners.
  • #23
  • Sep 23, 2010 1:19pm Sep 23, 2010 1:19pm
Quoting dr_zeus
Daily breakout.

Draw a bunch of trendlines using weekly and daily charts. Zoom to hourly if you want to micromanage. Place orders beyond the trendline, use 1/2 of the daily ATR as a stop and add to your trades periodically.

Seriously, people make this too hard.

If your stop is less than 100 pips away, you can't set & forget on a daily basis. Trade size should be equal to or less than your account balance.

I'm up 66% since Dec 8 trading this way live. I have demo accounts that are doing better or worse, depending on when they started and...

hi

your idea sounds interesting. can you explain a bit more , where would you draw the horizontal lines and on which TF ? what are we looking for here ? what are the TP and SL ?

many thanks
  • #24
  • Jul 24, 2012 5:21am Jul 24, 2012 5:21am
Quoting Porkpie
set and forget. This is the best method in my opinion. You will have a much bigger chance of success as long as you have a statistical edge. By setting and forgetting you will have a huge psychological advantage over day traders who sit and nurse their trades, shitting their pants trading off their emotions, closing trades early and getting in late etc etc.
Heh
True!
  • #25
  • Jul 24, 2012 5:27am Jul 24, 2012 5:27am
Quoting whatfx
so your the clever jack the lad, eh ? this guy is asking for help and you are being funny. not nice. we were all newbies at one time. obviously some people have no manners.
Every candle is either bullish or bearish so doesn't matter what position you take because market always changes its direction. What matters is money management. If your positive trades are bigger then you are in a good shape.
Forex market is really like coin tossing but with different outcomes and that depends on how you trade.
  • #26
  • Jul 25, 2012 2:24am Jul 25, 2012 2:24am
hi, i am new in forex trading, and read some articles about forex day trading, here i want to know whether forex beginners should start with forex day trading? becaue it is looking like easier and quicker?
  • #27
  • Last Post: Jul 26, 2012 3:50am Jul 26, 2012 3:50am
Quoting learningfore
hi, i am new in forex trading, and read some articles about forex day trading, here i want to know whether forex beginners should start with forex day trading? becaue it is looking like easier and quicker?
Forex Day trading looks like easy, but still it needs traders pay much more attention when you trade it. please visti the website, and you can learn more.
http://www.ikonfx.com/forexblog/prof...x-day-trading/
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