Commodity Based Currencies Basket
https://fxunity.oanda.com/currency-baskets/comm
https://fxunity.oanda.com/currency-baskets/comm
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- #947
- Apr 9, 2012 10:15am Apr 9, 2012 10:15am
- Joined Nov 2009 | Status: Trader | 27,245 Posts
GBPUSD, M30, 2012 April 09
GBPUSD, H4, 2012 April 09
Long @ 1.5856 (3/10), Target @ 1.5902 (DR1)
PO Long @ 1.5848 (2/10), Target @ 1.5882 (mR1)
PO Long @ 1.5813 (mS2) (2/10), Target @ 1.5902 (DR1)
GBPUSD, M5. 2012 April 09
Target @ 1.5902 has triggered.
Profit: +46 Pips
- #948
- Apr 9, 2012 10:19am Apr 9, 2012 10:19am
- Joined Nov 2009 | Status: Trader | 27,245 Posts
EURUSD, M30, 2012 April 09
Long @ 1.3050 (3/10), Target @ 1.3144 (DR2)
EURUSD, M5, 2012 April 09
Delete the Target @ 1.3145
Exit @ 1.3131
Profit: +81 Pips
- #949
- Apr 9, 2012 10:22am Apr 9, 2012 10:22am
- Joined Nov 2009 | Status: Trader | 27,245 Posts
Ok I will try it...
At first a little introduction:
Attached is a picture of the current H4 move on EURUSD. I want to take this as a first example. (I know that the move was based on some news, but it doesn't really matter).
Typical points (in my strategy) to enter are the horizontal lines. Why? Initial move is made. Furthermore you can see some support/resisstances some time ago.
Another setting would be that a trader tried a scalp, but didn't exit at the short retrace.
So the trader has some open positions long. Now you can see...
- #950
- Apr 9, 2012 10:23am Apr 9, 2012 10:23am
- Joined Nov 2009 | Status: Trader | 27,245 Posts
Hey all,
in post #931 I listed some basic methods to hedge or close open orders. That was more the theoretical part of forex. The trader is looking for the perfect strategy (holy grail...). But the strategy doesn't have to be perfect in order to be successful. When a system has proven (for you) to be profitable in the long term, the key is to follow it strictly and don't get nervous in bad times.
From my point of view the mental part (fear, confidence, ...) is just as important as the basic strategy. I trade forex a long time and...
- #951
- Apr 9, 2012 10:24am Apr 9, 2012 10:24am
- Joined Nov 2009 | Status: Trader | 27,245 Posts
Master Yoda
Thanks for your 'take' on trading.
I too hate SL's too . . you loss that's it . . nothing more said.... you can't get it back.
I do as you and FX3 do . . do a calculated hedge.
For example, if a 0.10 sell goes against me and I see a buy opportunity I will either buy at 0.10 and close all at BE or buy at 0.10+ what ever maybe 0.11- 0.15 if I feel more confidant about the buy move and close all at BE+??
At any one time I have multiple positions open like right now I have 7 sells open for a total of 0.21 and 4 buys for 0.18...
- #952
- Edited 10:40am Apr 9, 2012 10:28am | Edited 10:40am
- Joined Nov 2009 | Status: Trader | 27,245 Posts
...
Currently I am learning LTT never did it before. I envision riding one of those place a sell at 1.33 and cashing out at 1.31 kind of trades
you know like 300 + pips. The problem is being up 50 60 pips and seeing pa retrace and letting those pips go in the hope that it will return back and go lower
Well Happy Easter to all
LTT is great!
Modest remark
There is no wrinkle!
You have only to manage another MM when trading H4/Daily.
A Retrace about 200-600 Pips shouldn't also be a kicker, too. It's inherent in the system.
A trader which won't accept a drawdown about 200-600 Pips at H4/Daily/Weekly shouldn't trade LTT.
I like to trade with 2/10 at first after 200 Pips drawdown I put another log on the fire (2/10 more), after 200 Pips drawdown in addition I put more coal (again 2/10) and scalp interim the countermotion with 1 Lot or so (LOM). Finally I have make more profit when trading without drawdowns. It seems absolutely indifferent for my trading practice if the market price will go strictly in the right direction where the profit is smiling or make a circuit over the loss zone. I have learn to trade with the loss for my benefit and don't peer hard at the profit directly like the majority of the traders will do.
Hope it helps!
Kindest regards
FXcube
- #953
- Apr 9, 2012 10:34am Apr 9, 2012 10:34am
- Joined Oct 2008 | Status: Sailing for pips | 2,099 Posts
Thanks for the info Just not use to it LTT
Will demo this till it come natural
then .01 lots
Will demo this till it come natural
then .01 lots
#933
LTT is great!
There is no wrinkle!
You have only to manage another MM when trading H4/Daily.
A Retrace about 200-600 Pips shouldn't also be a kicker, too. It's inherent in the system.
A trader which won't accept a drawdown about 200-600 Pips at H4/Daily/Weekly shouldn't trade LTT.
I like to trade with 2/10 at first after 200 PIps drwadown 2/10 more, after 200 Pips drawdown 2/10 more and scalp interim the countermotion...
- #955
- Apr 9, 2012 11:09am Apr 9, 2012 11:09am
- Joined Oct 2008 | Status: Sailing for pips | 2,099 Posts
- #956
- Apr 9, 2012 11:14am Apr 9, 2012 11:14am
- Joined Oct 2008 | Status: Sailing for pips | 2,099 Posts
- #957
- Apr 9, 2012 11:20am Apr 9, 2012 11:20am
- Joined Oct 2008 | Status: Sailing for pips | 2,099 Posts
- #958
- Apr 9, 2012 11:23am Apr 9, 2012 11:23am
- Joined Oct 2008 | Status: Sailing for pips | 2,099 Posts
- #959
- Apr 9, 2012 11:26am Apr 9, 2012 11:26am
- Joined Oct 2008 | Status: Sailing for pips | 2,099 Posts
- #960
- Apr 9, 2012 11:31am Apr 9, 2012 11:31am
- Joined Oct 2008 | Status: Sailing for pips | 2,099 Posts
