I'm with you on the news minuteman sometimes it goes right opposite 
- #285
- Mar 8, 2012 8:18pm Mar 8, 2012 8:18pm
- | Commercial User | Joined Feb 2012 | 3,770 Posts
tradewith60
- #286
- Mar 8, 2012 8:49pm Mar 8, 2012 8:49pm
- | Joined Jun 2010 | Status: The Villain | 2,565 Posts
I never attached any great importance to pivots until I see how strong tool it is. It really works.
fool is he who doesnt use pivots , support / resistance in his trading.
btw, very happy today. i recovered the 100 odd pips i had lost two days ago on audjpy. and i longed a stock called arm holdings plc, also two days ago. closed it out for a cool 16 pips = £1600, at £100 per point ! this is the biggest stake i have made this year so far. on currencies i usually stake around £10 per pip or less.
happy !
Hi Johntan
its a decent set up, I find aussie, yen and NZ dollar best crosses for asia though. I posted an article a few pages back about good pairs for asia... might be good to read
http://www.dailyfx.com/forex/educati...ade_Forex.html
frankly saying, i not sure what its writing abt.
http://www.forexfactory.com/images/icons/icon9.gif patient....
ops! a failed trade on U/CAD. loss 17 pips.
on demo
Just a quick bit of advise for you can you see how close both those failed trades were to support and resistance lines and ..I like to see more space than that for the trade to breath..
Also there is some very high impact news around today especialy the Cad pairs and the price action is likely to cause whipsaws.. Plus fridays can be a bit of a roller coaster anyway..
I will only be watching the markets no trading for me today...
Remember a good trade can be by not trading at all..
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
Hi johntan
Just a quick bit of advise for you can you see how close both those failed trades were to support and resistance lines and ..I like to see more space than that for the trade to breath..
Also there is some very high impact news around today especialy the Cad pairs and the price action is likely to cause whipsaws.. Plus fridays can be a bit of a roller coaster anyway..
I will only be watching the markets no trading for me today...
Remember a good trade can be by not trading at all..
forgot there is high impact news on gbp & cad, i thought its 1/2 session away. would like to know what if follow the simplest signal, is this system a profitable one? i think yes.
patient....
- #294
- Edited 1:57am Mar 9, 2012 1:44am | Edited 1:57am
seabreeze, nice one.
forgot there is high impact news on gbp & cad, i thought its 1/2 session away. would like to know what if follow the simplest signal, is this system a profitable one? i think yes.
Yes its true that the main news is around 4 hours away for cad pairs, but I can tell you although that the main whipsaws will be at the time of news release banks and market makers already have a good idea of the impact and will be moving the market into shape before the news release to suit their own strategy..
If you use the system blindly you will do ok because if you follow the rules you will always be trading with the trend which is a slight edge but only slight.
I have demonstrated over the last couple of days how taking into consideration Market momentum, support and resistance, pivote points, ADR you will have a more powerful edge.
The way is to use a demo platform practice the raw rules log every trade you make, why you thought it failed or why did the trade get to you target profit so quickly, what time of day was it ect and you will start to form a pattern of strong trades and weak trades. Take your time there is no rush the markets will still be here tomorrow and the next
Then slowly introduce one extra tool at a time, maybe introduce s/r for a while and then when you are comfortable with that introduce pivotes and so on.
You will not need any other indicator
Trading is like having a partner you have to love it, understand the moods, know when to leave alone and ocasionally take advantage.
This way you will learn slowly to become consistant trader..
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
well, the second candle was an engulfing one.
I need to read the rules properly...
Presently short eu 236, scalping...
I just want to let others know that the trade was not a thread rule trade.
we dont want to confuse people and upset 60mm
As I said earlier I am happy to just watch the markets today and take down some notes. I can always trade again next week.
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger