Trading for living

Hey guys!
I am starting this thread, because I'd like to share with you (if you're interested) my new life experience. First, excuse my English, as I am not a native. I'll try my best though!
I am opening a small account, going live for living with an ECN. At that point I will be fully dependent on intraday trading and of course, I've quit my job too.
I traded with a marketmaker before and lost my shirt in six months. Even though I didn't know, that I was gonna lose that fight, it was a good 'school'. By that time I was trading forex and ETF's.
After that I studied really hard, technical analysis and stuff, got interested in other markets too,...I got interested in economy from the science point of view. Last year I got into university and met my friend there , who is more into a stock trading and IMO, let's say, successful. Anyway, we've had the same interest and have been there, for the same reason..
There may be a lot of you guys on this forum, who are trading for living and you sure must know, how hard it is, to make the first step..on monday, I am going to send application forms and stuff to my new broker...


Any comments are welcome!

rokit

Hi traders,
I've sent all papers to broker on thursday..

oh great

to quite a JOB and trade for living requires GUTS.

Hi guys,

I've been busy for a while, as having not much time, because of the end of semester at uni. Even though I've been trading, majors on forex and got risen my small account quiet successfully.

Right now I'm focused on usd/jpy pair =>

As the BOJ is sitting under the channel (round 76.5 - very strong resistance level), we might expect the BOJ intervention again (they could sell their yen reserves to make the currency weaker and buy dollars). The Japan economy is dependent on exports and the strong yen currency is just killing the exporters. And this surely had effect on trade balance, which is in deficit (export-import) and because of that the GDP is lower. IMAO closing above the psychological 80 level will lead to the change of trend with long term buy..

Trade well and no matter what, always use the SL

Have a nice weekend!

V

The range indicated by this renko chart is interesting too. Could that support hold again?

As I wrote before, the BOJ is watching the price level very closely with the reasons mentioned above. Even if I don't know their start triggers, personally would not go short at current price level, instead I would look to go short term long and that range has been tested few times pretty obviously.

From the long term perspective, we are still in the down trend and that really creates the pressure on yen currency. The BOJ intervented few times last year, with no effect though and the big money has kept selling..

Trade well and no matter what, always use the SL

V

All I can say is I hope I'm in front of my freaking computer when BOJ intervenes again. I'll long the hell out of that.

I missed all three interventions last year.

I'm saying good luck!

Guys, thank you for stopping by and spreading the words out, I really appreciate that! Here I am attaching a picture from my trade today, sorry for the notes (they are in czech - my native language).http://www.forexfactory.com/C:%5CUse...urly_snapshot1

Good luck bro!

What time frame is that?

I am a short term swing trader and that is a 1hr chart. In trading 'mode' I watch the daily, 1hr and 15 or 5min. For planing the weekly charts also get my attention..

Yesterday, I got closed my long position on usd/jpy pair just below the 76.50. Today we see new lows and the dolar is continuing in the down trend. However the bears keep going down, the intervention of BOJ is IMO matter of time and the price level..also attached a snapshot..u have a great day

SL keeps you in the game

V.

did ya blow?

most probably

Hi guys, hope you doing well!

No I did not blow, but thanks for asking .

Been busy last few weeks and of course trading. It's been 3 months since I've started trading for living on Forex - by doing my research, following my rules...makroeconomics also became usefull. If I should emphasise one of them rules, I would recommend using SL order - always! If we are in the market, we never know, where it will go and the market can beat us hard, eat us alive..SL is our protection and keeps us in the game.

I've taken a small position on Usd/Chf (entry 0.9002) - from the long term perspective and here I expect to test the parity on pair, as the US economy is getting stronger and the Swiss ec. is struggeling from the EU crisis (exports really slow the CH economy), there is a SNB floor on Eur/Chf at 1.20 level, which had and would have an impact on dollar/franc pair as well.

SL is our friend!