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Forex Day Trading

  • #1,121
  • Sep 30, 2011 7:23am Sep 30, 2011 7:23am
Have a good weekend guys im done also.

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,122
  • Sep 30, 2011 7:50am Sep 30, 2011 7:50am
Im off to. See you guys monday

Dan
  • #1,123
  • Oct 1, 2011 5:44pm Oct 1, 2011 5:44pm
LOL, this is a little off topic but i typed forexfactory into google and this video came up on youtube about this fool claiming FF is a scam. Just listen to the nonsense this guy says.

Inserted Video
  • #1,124
  • Oct 2, 2011 1:38pm Oct 2, 2011 1:38pm
Sorry guys. Didnt even get a chance to look at the charts since the middle of last week. I ran my first marathon today.. the twin cities marathon. I finished it in 4 hrs 37.7. Just a little bit dissapointed at my time but I still finished and I am proud of myself. The good news is I took a week off work and I can watch the charts for the whole next week. Happy pipping this week.
  • #1,125
  • Oct 2, 2011 1:51pm Oct 2, 2011 1:51pm
Quoting doggybones
Sorry guys. Didnt even get a chance to look at the charts since the middle of last week. I ran my first marathon today.. the twin cities marathon. I finished it in 4 hrs 37.7. Just a little bit dissapointed at my time but I still finished and I am proud of myself. The good news is I took a week off work and I can watch the charts for the whole next week. Happy pipping this week.
Nice one DB! Completing a marathon is a major achievement. Congrats!!
  • #1,126
  • Oct 2, 2011 6:02pm Oct 2, 2011 6:02pm
Looks like lower again this session.

New lows again... bearish not a good time to be going long that's for sure.
  • #1,127
  • Oct 2, 2011 7:05pm Oct 2, 2011 7:05pm
Down it goes
  • #1,128
  • Edited 9:39pm Oct 2, 2011 8:38pm | Edited 9:39pm
Moved stops down... damn very slow session with the AU banks shut today.

Likely to be a bit of support at this xx00 level.

Moving stops closer again..

+26 and +32 pips locked away on two positions.

Pips banked. Now to sit and wait and see what market will do now..
Attached Image(s) (click to enlarge)
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  • #1,129
  • Oct 2, 2011 10:11pm Oct 2, 2011 10:11pm
Counter trade on GU ride it up intraday for profit taking phase.

Was not quick enough to close the trade as it reversed.

Loss trade of -13 pips coming up
Attached Image(s) (click to enlarge)
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  • #1,130
  • Oct 2, 2011 10:15pm Oct 2, 2011 10:15pm
Quoting DarkWolF
Hi all,

I am starting this thread to be a general discussion thread on any trading pairs, any discussion is welcome.

I have 12 pairs that I monitor on both daily and 4 hour time frames and I also trade 5 min charts of EURUSD.

I essentially trade Price Action and candle patterns.

Horizontal levels are the key areas that I like to target wether its key support and resistance or round number areas with confluence of other aspects.

Cheers.

DW.
Hi DW,

I am wondering what is the best resource (ebooks, online reading material, website and other sources) to start out with forex trading. I have been trading for just a few months and I really need to learn a lot before I could do any profitable trading. Any suggestions?

Appreciate your advice in advance.

Thanks,
Mary
  • #1,131
  • Oct 2, 2011 10:36pm Oct 2, 2011 10:36pm
Try this counter one more time... failed to break the daily low... see if can get a decent rally this time.

Appears to me by looking at the 4H chart this is a possible support zone for the pound.

Combined with the xx00 level it's worth the risk for me.

4H chart showing previous levels where price was struggling.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gu4h.jpg Size: 122 KB
  • #1,132
  • Oct 2, 2011 10:38pm Oct 2, 2011 10:38pm
Quoting marythomson
Hi DW,

I am wondering what is the best resource (ebooks, online reading material, website and other sources) to start out with forex trading. I have been trading for just a few months and I really need to learn a lot before I could do any profitable trading. Any suggestions?

Appreciate your advice in advance.

Thanks,
Mary
Hi Mary,

These two sites area a good starting point there is plenty of information on them. I found both of these quite useful when I first started out trading and looking at the FX markets.

http://www.informedtrades.com/f111/

http://www.incrediblecharts.com/

I am a little busy today so will come back later and see what else I can dig up but these 2 will give you plenty of reading to get started.

Hope this helps.

Cheers.

DW
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,133
  • Oct 2, 2011 11:21pm Oct 2, 2011 11:21pm
Definitely going to be some support at this level on GU I suspect.

As much as anyone knows anything... I know this.. almost guaranteed.

EU most likely going to head lower... but it could rally to fill this gap... so I'll just sit out of EU for a bit.
  • #1,134
  • Oct 2, 2011 11:35pm Oct 2, 2011 11:35pm
+30 Pips and +23 Pips on these 2 positions.

Hitting 50% of daily range time to exit counter trade.
Attached Image(s) (click to enlarge)
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  • #1,135
  • Oct 2, 2011 11:57pm Oct 2, 2011 11:57pm
Now to see if GU can find resistance at key level.

50% of daily range reached xx50 level resistance.

Time will tell if it can move back to the daily lows again.

5510 will be a good target level.

around another 20 pips from here...

Ok reached some level where support is likely, i'm going to hold this one for a bit and see if this intraday resistance region will hold.

Just going to move stop down slightly to reduce risk.
Attached Image(s) (click to enlarge)
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  • #1,136
  • Oct 3, 2011 12:41am Oct 3, 2011 12:41am
Moved my stop down just above that recent swing... and price just pipped it for -11 pips.
Attached Image (click to enlarge)
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  • #1,137
  • Oct 3, 2011 12:43am Oct 3, 2011 12:43am
Hi Musashi,

Some nice pips for you to start off the week
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,138
  • Oct 3, 2011 12:45am Oct 3, 2011 12:45am
Quoting doggybones
Sorry guys. Didnt even get a chance to look at the charts since the middle of last week. I ran my first marathon today.. the twin cities marathon. I finished it in 4 hrs 37.7. Just a little bit dissapointed at my time but I still finished and I am proud of myself. The good news is I took a week off work and I can watch the charts for the whole next week. Happy pipping this week.
Hi Doggy,

Nice work with the marathon. Is that running between two cities im assuming ?

How far was it ?
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,139
  • Oct 3, 2011 1:06am Oct 3, 2011 1:06am
Quoting dan89
LOL, this is a little off topic but i typed forexfactory into google and this video came up on youtube about this fool claiming FF is a scam. Just listen to the nonsense this guy says.

http://www.youtube.com/watch?v=8ZLpjDOwZ7o
Hi Dan,

Just watched this, quite amusing. Little rant that he goes off on sounds kinda like Charlie Sheen when he was going off on his rants

Just took a quick look at his websites that he mentions as part of his video one of them doesnt even look like it stayed in action for over a month. He shows no real evidence on his site of his actual results.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,140
  • Oct 3, 2011 1:09am Oct 3, 2011 1:09am
Couple of trades I took today guys.

AUDNZD short for +35 pips and GJ short for +49 pips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUNDNZD.jpg Size: 101 KB
Click to Enlarge Name: AUDNZD TP.jpg Size: 93 KB
Click to Enlarge Name: GJ.jpg Size: 96 KB
Click to Enlarge Name: GJ TP.jpg Size: 87 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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