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  • #421,741
  • Apr 14, 2011 11:59am Apr 14, 2011 11:59am
Quoting cloggie
Knowing when to switch your trading style is the hardest thing to figure out for most traders. Right now postition trading does not pay, a halfway decent trader should be able to pull 100 pips a day out of eu alone, add a few correlated markets and you are on to a winner. Add some fundy/news trades when appropriate and you can beat any position trader right now.

Once the global moneyflows stabilise I will start position trading again.

I just follow the money.
Do you still trade out of the London session?
  • #421,742
  • Apr 14, 2011 11:59am Apr 14, 2011 11:59am
what a great day .. easy money.. nearly 400 pips earned on eurusd and gbpusd today.. thats enough to me..

green pips to all and have a nice day
  • #421,743
  • Apr 14, 2011 12:01pm Apr 14, 2011 12:01pm
Quoting w1nner
Do you still trade out of the London session?

My day starts about an hour before Franky and finishes about 1500EST. I then check the Asia open for a bit.

About 70% of my daily piptake comes from London.
  • #421,744
  • Apr 14, 2011 12:01pm Apr 14, 2011 12:01pm
Quoting cloggie
Knowing when to switch your trading style is the hardest thing to figure out for most traders. Right now postition trading does not pay, a halfway decent trader should be able to pull 100 pips a day out of eu alone, add a few correlated markets and you are on to a winner. Add some fundy/news trades when appropriate and you can beat any position trader right now.

Once the global moneyflows stabilise I will start position trading again.

I just follow the money.
Yup, I wish I could be slicing and dicing this currency more during the days... still not ready to get off of the work nipple yet. Which leaves me with position or swing trades, and scalping Asia.

Going from a guaranteed income to having to make your own money will be quite a switch. Right now trading is just money on top of my job, which is nice. I am absolutely outperforming anything a savings account or bond can do... but I am working on building an account and once I hit certain levels and objectives, i'll start testing myself by taking a week or two off at a time from work to focus on trading so that I can get a gauge of what my expected pip income per week is, and use that to estimate some other figures up to the Monthly and Yearly.

Baby steps... have plenty of time... The true test is when I'll have to be dependent on the income.
  • #421,745
  • Apr 14, 2011 12:03pm Apr 14, 2011 12:03pm
Eyes on 4526
  • #421,746
  • Apr 14, 2011 12:11pm Apr 14, 2011 12:11pm
Quoting cloggie
Eyes on 4526
Spot on!
  • #421,747
  • Apr 14, 2011 12:12pm Apr 14, 2011 12:12pm
Quoting cloggie
Eyes on 4526

Just to be clear, I am not trading this one yet, just watching it. I pick my battles carefully and this one I will pass on.
  • #421,748
  • Apr 14, 2011 12:12pm Apr 14, 2011 12:12pm
Licht aus
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #421,749
  • Apr 14, 2011 12:18pm Apr 14, 2011 12:18pm
I hope resist final breaks up
  • #421,750
  • Apr 14, 2011 12:20pm Apr 14, 2011 12:20pm
cloggie, i'd pass on it too, just instinct, not sure why, you closed your your long from pivot already must have missed that... mine just SLed
  • #421,751
  • Apr 14, 2011 12:22pm Apr 14, 2011 12:22pm
Two times touched central weekly pivotal zone ...



;-|
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2001-04-14_19h10_EURUSD _ min010 _ pivotchart with 4 Hours PP.png Size: 20 KB
Click to Enlarge Name: 2001-04-14_19h10_EURUSD _ min060 _ pivotchart with Daily PP.png Size: 20 KB
Click to Enlarge Name: 2001-04-14_18h55_EURUSD _ min240 _ pivotchart with Weekly PP.png Size: 17 KB
Click to Enlarge Name: 2001-04-14_19h10_EURUSD _ x-Daily _ pivotchart with Monthly PP.png Size: 18 KB
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #421,752
  • Apr 14, 2011 12:23pm Apr 14, 2011 12:23pm
Quoting egkid
Nothing stay forever
My Yearly R1 higher higher than current PA
Already have a plan and limit order when it hit i will post my entry
Catch u next week.

BTW:
I'm not trade what i expecting that lesson we learn long time ago , I can give very good 4 reasons for my trade and my entry
Hello Traders
Same Plan and waiting my limit order to Hit in few days.
  • #421,753
  • Apr 14, 2011 12:23pm Apr 14, 2011 12:23pm
Quoting sidhujag
I have my sell limit set to 108.5 with target 102.5
OIL:

So I left this limit up 2 days being quietly confident about this entry on one of my hunches...

Hit my sell limit to the pip... I don't know how but seems like I'm able to pick these numbers out of my ass and they work.

Maybe its from looking at the charts for so long.. lol

Anyways entry is set... lets look for tp or exit.
  • #421,754
  • Apr 14, 2011 12:29pm Apr 14, 2011 12:29pm
Quoting cloggie
Right now postition trading does not pay, a halfway decent trader should be able to pull 100 pips a day out of eu alone, add a few correlated markets and you are on to a winner. Add some fundy/news trades when appropriate and you can beat any position trader right now.

Once the global moneyflows stabilise I will start position trading again.

I just follow the money.
Why not? We have various trending markets like AU for eg, various ETFs, etc If someone makes an effort anything is possible. Position trading can be done in any market conditions.
  • #421,755
  • Apr 14, 2011 12:31pm Apr 14, 2011 12:31pm
Quoting mercy seat
Licht aus
You are always making comments in German. This is an English speaking forum - the language here is English. Do not be rude.
  • #421,756
  • Apr 14, 2011 12:31pm Apr 14, 2011 12:31pm
Quoting cloggie
Just thinking about that top gives you a subconscious bias that causes you to miss the obvious trades and setups.

Clear your mind and just follow price, who cares where it takes you.

Ours is not to wonder why, ours is just to do or die.
Cloggie u should be working for GS lol... next time they make a call you can give us a heads up
  • #421,757
  • Apr 14, 2011 12:34pm Apr 14, 2011 12:34pm
Quoting cammomile
Why not? We have various trending markets like AU for eg, various ETFs, etc If someone makes an effort anything is possible. Position trading can be done in any market conditions.
It can be done, as I am doing it... it's just not very consistent. March and February have been some of my slowest months in a while in terms of positions trades.

I'm averaging somewhere around 20-50 pips a day with the position trades.
  • #421,758
  • Apr 14, 2011 12:34pm Apr 14, 2011 12:34pm
Quoting cloggie
thinking about where the top is or where we are going to be in June will just give me a bias, having a bias is the worst thing you can do as a daytrader.
So true, Cloggie, so true. Since I constantly Elliott wave analyze the EURUSD I often stand with my bias in my own way.

Sometimes I damn the day I came across Elliott Wave LOL
  • #421,759
  • Apr 14, 2011 12:38pm Apr 14, 2011 12:38pm
i may be incorrect, but based on 1m candle closes, we are still in a box... 4480 - 4498 or something like that...
  • #421,760
  • Apr 14, 2011 12:40pm Apr 14, 2011 12:40pm
Quoting cloggie
Just to be clear, I am not trading this one yet, just watching it. I pick my battles carefully and this one I will pass on.

Now you see why I didn't trade it, I pick my battles carefully.
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