I have been following your thread for a while and would just like to thank you for all the charts you have posted and for the last post on advice when to take a step back and stop trading.
I am from Vancouver Washington. I have been following your journal. I just started my full time trading career. I was wondering if you had any advice that might be pertinent to starting out. I have been trading live for six years now with the last two years where I became successful. Any advice would be greatly appreciated.
I am from Vancouver Washington. I have been following your journal. I just started my full time trading career. I was wondering if you had any advice that might be pertinent to starting out. I have been trading live for six years now with the last two years where I became successful. Any advice would be greatly appreciated.
Golferguy99
Ignored
there is advice/invaluable information through out the whole thread. Practise,patience,discipline.....ring through....and also that it is never easy.
He used to have forex group meetings around your way - not sure if he still does
Hi, thanks for the post. I don't know what more advice I can give other than what I've written on this thread. The way I trade, the strategy, the setups, it's all in the thread many times over. If you've been a successful trader for the last two years, in my opinion you have this game figured out and you don't need anyone's advice. P.S. The only significant change in my trading over the last year or so is that I don't trade nearly as often I used to. The reason being is that I don't see one hundred pip "intra-day trend" opportunities as much. So most of the time I stand aside. I'll look at the charts each day after the new pivot points come out, and also somewhere before the London Open. If I don't see an obvious setup, I'm content to shut the charts down and wait for the next session. I may only make one trade a week now, and sometimes not even that. I used to host a forex group called, "The Forex 100 Pips Club." We had 25 people at the weekly meetings, but after the downturn in the econmy the numbers dropped to only 4 or 5 people. I haven't hosted a meeting for a year or more. I'd like to do it again if enough people were interested. If you would like to attend a future forex meeting, drop me an email. Regards and continued success, Greg
Joined Aug 2011
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Status: riding the lightning
|935 Posts
just noticed that Greg is trading way too small...in the earlier times he used swing like 2 mio a trade...nowadays I see that he trades way less...could livermores statement be true when he asserted that no man alive could beat the market? That the only money taken out of wallstreet is that which is withdrawn and locked in a safety deposit box/bank...i am asking this coz i have finally found consistency and this statements from the greatest ever speculator scares the living hell outta me.
Thanks for the reply. I really appreciate it! You were spot on when you said the market does not seem to move the way it used to. I have noticed that as well. I trade intraday setups I have still am able to find a few decent trades.
I would love to have a group meeting. I used to attend one in seattle about seven years ago. I will PM you my email and maybe we could hook up.
just noticed that Greg is trading way too small...in the earlier times he used swing like 2 mio a trade...nowadays I see that he trades way less...could livermores statement be true when he asserted that no man alive could beat the market? That the only money taken out of wallstreet is that which is withdrawn and locked in a safety deposit box/bank...i am asking this coz i have finally found consistency and this statements from the greatest ever speculator scares the living hell outta me.
Ignored
From the statements I have seen recently he still weilds a decent size bat, $10k for an average 100 pip move is great by all accounts for a solo trader. I for one would love to be able to do that consistently. Perhaps the reason there isn't the 2 mil units etc is as Greg mentioned, the moves that used to happen on a regular basis just are hear today. I remember the GBP/JPY required an awful lot of dedication in the beginning because hourly moves of 100 pips were not uncommon and you could be whipsawed to death if you weren't ready for them or you had a very ordinary approach to trading them. Today this pair offer more still in terms of pip return and the spreads are far better but it is also far more tame compared to back in the day before the sub prime fiasco.
Still even just once a week, a solid set up returning 10k, I could live with that.
I received the emails regarding possible future forex meetings in Portland, OR. I'll add your names and addresses to our list and notify you when we have a meeting scheduled. Thank you for your interest (we bring our laptops too, look for trading setups).
I received the emails regarding possible future forex meetings in Portland, OR. I'll add your names and addresses to our list and notify you when we have a meeting scheduled. Thank you for your interest (we bring our laptops too, look for trading setups).
Greg
Ignored
Please also add me to the list...(I don't have PM privileges yet.)
For those interested, i have been using Gregs approach for maybe 2 or 3 years and in that time gbp/jpy behaviour has changed -but for the past 6 months or so i have added gbp/aud, and i believe that this pair offers up good opportunities using Gregs strategy and the average daily range is cloesr to 150 pips or double gbp/jpy of late.
Worth looking at i think if your still looking for 100pip trending momentum opportunities between support and resistance. It also reacts strongly to the daily pivots - and has fairly strong daily trends.
This was yesterdays chart - i managed to grab 70pips - but it looks typical of chart Greg would of posted earlier in the thread. The move yesterday was from the CPP down to S3.
