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Forex Day Trading

  • #121
  • Aug 19, 2011 4:09am Aug 19, 2011 4:09am
Quoting bogus
Compliments on a good thread. I need a place to hang out if thats ok?
Currently short on e/y and e/u.
Hi bogus,

No probs at all, welcome to the thread.

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #122
  • Aug 19, 2011 4:15am Aug 19, 2011 4:15am
Quoting Loooit
Hi all,

Just a general and quick question.

Who do you guys use as brokers, all brokers seem to be loved and hated, I just want your experience since you guys don't seem to blame losses on brokers.

Cheers
Hi Loooit,

I currently use GO Markets, I basically use them as they are Australian based and I am wanting to keep my $$ within Australia. I find them quite good so far and have been using them for a few years now.

I have also used IG markets as well and had no problems with them the only real reason I switched to GO Markets was to be able to use MT4.

Alpari do seem pretty good although I have never had an open account with them as yet. If there were branch into Australia I would definately check them out. They currently do not hold accounts in AUD currency which keeps me away from opening an account with them based overseas.

Most brokers will essentially offer you similar products. You may want to decided between fixed and variable spread brokers and them potentially narrow your search from there.

There is plenty of information out there if you search the net sites like the following.

http://www.forexbrokerguide.com/

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #123
  • Aug 19, 2011 6:46am Aug 19, 2011 6:46am
i had a long on silver after observing the bull candle shot north... passed the mother candle + IB + RL + follow the up trend. SLo was hit just now for 194 pips profit
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  • #124
  • Aug 19, 2011 7:16am Aug 19, 2011 7:16am
Quoting DarkWolF
Well the wise old man once said

"The trend is your friend"

dw, your statement is reflected in this link just taken from ff

http://www.dailyfx.com/forex/educati...Pip_Count.html

cheers
  • #125
  • Aug 19, 2011 8:00am Aug 19, 2011 8:00am
Quoting nbafx
i had a long on silver after observing the bull candle shot north... passed the mother candle + IB + RL + follow the up trend. SLo was hit just now for 194 pips profit
Good work
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #126
  • Aug 19, 2011 8:04am Aug 19, 2011 8:04am
Quoting nbafx
dw, your statement is reflected in this link just taken from ff

http://www.dailyfx.com/forex/educati...Pip_Count.html

cheers
Just had a quick look at that article now those results would assume that you get in at the start of each swing long or short. We all know that in real trading that just simply does not happen to perfection. In hindsight looking at charts its very easy to say I woulda got in here and here etc.

Unfortunately live trading is much more difficult than that.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #127
  • Aug 19, 2011 8:15am Aug 19, 2011 8:15am
Had to travel for couple hours after work tonight as headed away for the weekend but put a break even on my EG daily trade so see how that goes from here.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #128
  • Aug 19, 2011 9:07am Aug 19, 2011 9:07am
Quick long on EU 5 min chart for +22 pips, was thinking of a potential target area of the next round number area but thought the 22 was enough this time of the day on a Friday.
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #129
  • Aug 19, 2011 9:18am Aug 19, 2011 9:18am
Hourly view of EU could be a potential resistance area, watch 5 min for PA.
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  • #130
  • Aug 19, 2011 9:50am Aug 19, 2011 9:50am
Quoting DarkWolF
Hourly view of EU could be a potential resistance area, watch 5 min for PA.
Short 5 min chart EU for +13 pips
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  • #131
  • Aug 19, 2011 9:54am Aug 19, 2011 9:54am
Quoting DarkWolF
Quick long on EU 5 min chart for +22 pips, was thinking of a potential target area of the next round number area but thought the 22 was enough this time of the day on a Friday.
good
dw, how do you get the every 100's lines?
thx
  • #132
  • Aug 19, 2011 9:57am Aug 19, 2011 9:57am
Quoting nbafx
good
dw, how do you get the every 100's lines?
thx
The lines I have on there are every 50 pips. These round number areas can be key levels.

It is an indicator I have that allows that to be done.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #133
  • Aug 19, 2011 10:02am Aug 19, 2011 10:02am
Notice how price respects these levels time and time again.
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  • #134
  • Aug 19, 2011 10:10am Aug 19, 2011 10:10am
Round number areas are always good to keep an eye on what PA is doing.
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  • #135
  • Aug 19, 2011 10:29am Aug 19, 2011 10:29am
Made it to the next RN level easily
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #136
  • Aug 19, 2011 6:21pm Aug 19, 2011 6:21pm
Quoting DarkWolF
The lines I have on there are every 50 pips. These round number areas can be key levels.

It is an indicator I have that allows that to be done.
is this RN indy available free in net? in ff? or where can i buy?

cheers
  • #137
  • Aug 19, 2011 6:25pm Aug 19, 2011 6:25pm
interestingly! the usd-sgd pair is seem having a similar pattern repeated as per past week? just wonder? pending to see...
cheers
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  • #138
  • Aug 19, 2011 6:37pm Aug 19, 2011 6:37pm
Quoting Loooit
focussing on only one strategy.
Cheers,
this should be the correct way as per advised from experience traders whom i received last time
cheers
  • #139
  • Aug 19, 2011 6:43pm Aug 19, 2011 6:43pm
Quoting Musashi
Good thread, long term trading is not exactly my strong point, more of a scalper myself, however keen to expand my horizon, and do less screen time no doubt about it.

Profitability doesn't come from more trades.
i always wanted to scalp... just that i dont have the will or rather gut to hit the entry

i think maybe the PA in scalping would be similar to the higher time frame trading? one is swiftly (scalping) vs one slowly (higher time frame)?

mus, pls do offer your input.

cheers
  • #140
  • Aug 19, 2011 6:50pm Aug 19, 2011 6:50pm
dw, have a nice trip over the weekend.

oh, one trade i took on a-j... after observing the bearish engulfing candle + following the downtrend.

my problem always is whether to set RR 1:1 or 1:2? any advise is welcome.

have a gr8 weekend to all
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