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Joined Feb 2008
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Status: Knowledge is good
|117 Posts
It turns out this three tap 4H EURUSD I posted Monday would have been a nice winner -- 200p+ trade had you stayed with it. With another chance to get in it today.
Last few days, I am experimenting some thing and so far it's very encouraging. It could be just luck unless I see it's consistent for atleast few weeks. To follow you (as we live in the same zone), I have downloaded FXDD also. I used to have IBFX (demo, for metatrader) and a live (now on hold) account with Oanda. I have very limited screen time both in evening and in the morning. I go to compter around 8 PM and draw the H1CBO lines for most of the pairs which are in some kind of consolidation mode. If I see some pairs already have a break out (even if the RSI are not supporting), I place a order. Then at 10 PM, I do the same thing. I place order on almost all pairs which has a clear break out even though RSI are not matching. I feel better and confident if RSIs are matching. I also don't have a stop loss. Since it's demo, I can take this risk. Earlier with reasonable stop loss, my order was moved towards my desred direction, but after kissing my stop loss. Then in the morning between 5:30 and 6:30 AM whenever I woke up, I close all the orders. I have some loss and some profit. But in net terms, I have more profit than loss for few days of experiment which no one should take seriously. But I will continue this for few weeks as an experiment.
I did not try to catch any of them as I have completed my live trading for the week, except for several long term trades that I am in on daily charts. I try to wake up at 5:00 a.m. to catch a couple of hours of London, but have been too tired lately. Are you doing that?
What do you think of our possible breakout trades? Any of them look good to you? Personally watcing for a break north on EURGBP and EURJPY. Both have a D1/H4/H1 long bias.
Is there something wrong with my RSI indicator? I looked at your screenshot and saw the RSI direction is up for weekly on EURJPY, but mine is showing about 4 oclock...
Is there something wrong with my RSI indicator? I looked at your screenshot and saw the RSI direction is up for weekly on EURJPY, but mine is showing about 4 oclock...
Trade What You See - Almost Naked Trading
