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MT4: how to change "EURUSD" to "#EURUSD"? 3 replies

Re: EurUsd short term 15 replies

did oanda just drop its spread for eurusd to 1 pip? 11 replies

EA for multiple lot limit order for EURUSD 0 replies

NFP nice bump up on EURUSD 2 replies

Attachments: EURUSD
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EURUSD

Quoting vosterfxandy
i get my ass handed to me everyday.
apart from the weekend of course!
Enter Signature
Quoting johnnyarnold
I trade quite mechanical now so I win most of the time. Scalping too damn emotional.
u need to tell me how u do it then
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Quoting takercena
Guys, what do you think about this chart?
It's a pretty chart.
Quoting vosterfxandy
move up dammit!
if you wanna hear someone then just stay away from the market right now till monday..
yeah well, three north, six south but here's how i'm doing it: i figure two possible TP on let's say h1 and i set two trades to there for the day. we all know the price will not go there in a straight line. it will move up and down the m15 with at least two reversals a day on that. so set TP there,

and while the m15 does it's thing, i trade all the up and downs on the m5, and when things get really slow I drop down to the 1 minutes

kinda like recursion... one time frame builds the other
there are some tricks here.... when the market is turning, you will see that happening on the lower TFs first so you can start there, trade the lower time frames and when direction is more clear let the trade run to a TP on the higher time frame.

but in order to do all these one have to understand how ALL Time Frames interact with each other, on which one trading is done at the moment. there's a lot to talk, but this is just an overview for the non believers.

Quoting Venice
I waited all week for 3470.

That's pretty cool, but I use forex as my longer term trades. I could say the same thing in equities. I am always knawing at the ETF's (FAS/FAZ, TNA/TNZ) are my favorites.
Quoting attila
i'm not sure how people can wait for an hour candle to close in order to take a trade. i would die without scalping. i have at least 10-15 trades running at all times.
Not being critical of your trading methods, but this comment reminds me of something one of the senior development quants at Citi (a father of swaption modeling) once told me.

He said there were so many desks doing so many different strategies, that if he had the right network, he could make the bank a fortune arbitraging itself against itself.
Quoting OldQuant
Not being critical of your trading methods, but this comment reminds me of something one of the senior development quants at Citi (a father of swaption modeling) once told me.

He said there were so many desks doing so many different strategies, that if he had the right network, he could make the bank a fortune arbitraging itself against itself.
That's great. Trading different desks against one another.
  •  Vilgax
  • | Joined Aug 2010 | Status: Lack of money is root of most evil | 466 Posts
Quoting cloggie
I don't have TP's, I stay in for as long as the price moves.
thanks Cloggie.

I realise you said 30 pips a day can mke one wealthy over time but I have come to see that 30 pips per trade is almost a sure thing if you are not taking stupid trades / trades at wrong time or gambling.

I am pushing the envelope now but I have seen some nice moves on a Friday night so am ending my weekend with a long from 3640 / TP 3670 / and sl 3620. No more chasing 60/100 pip rallies - just EW/PA/MM and MM (murrey and money man.)

good weekend to all.
The forex market has its own life and takes its own time.
see above
Quoting OldQuant
Not being critical of your trading methods, but this comment reminds me of something one of the senior development quants at Citi (a father of swaption modeling) once told me.

He said there were so many desks doing so many different strategies, that if he had the right network, he could make the bank a fortune arbitraging itself against itself.
Quoting Vilgax
thanks Cloggie.

I realise you said 30 pips a day can mke one wealthy over time but I have come to see that 30 pips per trade is almost a sure thing if you are not taking stupid trades / trades at wrong time or gambling.

I am pushing the envelope now but I have seen some nice moves on a Friday night so am ending my weekend with a long from 3640 / TP 3670 / and sl 3620. No more chasing 60/100 pip rallies - just EW/PA/MM and MM (murrey and money man.)

good weekend to all.

30 pips a day, will make anyone happy here. The emphasis should be on risk though, never ever risk more then 1%, capital preservation is key. Manage the risk and profits will follow all by themselves.

I judge my success monthly in percentages, not really bothered with pips.
and grabbing a pip multiple times too. either way, i am aware this forum is all about a different approach from mine, so i'll forever be the black sheep here.

edit: made 95 pips today. how many did you make?

Quoting johnnyarnold
That's great. Trading different desks against one another.
Quoting cloggie
30 pips a day, will make anyone happy here. The emphasis should be on risk though, never ever risk more then 1%, capital preservation is key.

I judge my success monthly in percentages, not really bothered with pips.
This is the best advice I've every received. Risk management is the key to trading. Preservation before appreciation.
Quoting attila
and grabbing a pip multiple times too. either way, i am aware this forum is all about a different approach from mine, so i'll forever be the black sheep here.
I'm willing to bet there are tons of different approaches. Scalping can be done but it's emotionally draining and time consuming.
Quoting johnnyarnold
This is the best advice I've every received. Risk management is the key to trading. Preservation before appreciation.

I posted an account here last week trying to get a debate going about risk, it showed 10% growth a day for a few days just trading EURUSD, never risking more then 1% per trade, that all went pearshaped and got a few too many nasty responses.

Trading is about risk, if you can limit your losses to 1% and just take profits at 1%, then you only need a small edge to make a living out of FX. It is all about consistency and risk management.
Quoting johnnyarnold
This is the best advice I've every received. Risk management is the key to trading. Preservation before appreciation.
On the pit, often it's been told that even a 30% of winnings is good if you let them running enough, so those 70% must be small but you need irony discipline and low commissions.
http://www.forexlive.com/162959/all/...-fire-in-cairo
Look Sharp/Trade Tight
no it's not. if you size your trade lower. it's actually a fun game to be first to where the big boys are heading.

Quoting johnnyarnold
I'm willing to bet there are tons of different approaches. Scalping can be done but it's emotionally draining and time consuming.
Quoting attila
and grabbing a pip multiple times too. either way, i am aware this forum is all about a different approach from mine, so i'll forever be the black sheep here.

edit: made 95 pips today. how many did you make?
I faded the top last night into the Asian session. It was good for 25 PIPS. I haven't traded the NY action so far. I only took one other trade this week on Monday that was good for 30. There were several other trades I could have taken but I've become much more mechanical and tight sideways markets aren't my favorite.
a strong day for the usd - eu could fall at least to 1.35
Pecunia non olet
Quoting cloggie
I posted an account here last week trying to get a debate going about risk, it showed 10% growth a day for a few days just trading EURUSD, never risking more then 1% per trade, that all went pearshaped and got a few too many nasty responses.

Trading is about risk, if you can limit your losses to 1% and just take profits at 1%, then you only need a small edge to make a living out of FX. It is all about consistency and risk management.
Right on the money. I asked a famous trader once when was a good time to load up on a trade. His response was... when you want to give some of your winnings back.
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