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Day Trading for a Living

  • #481
  • Jul 10, 2012 2:33pm Jul 10, 2012 2:33pm
Quoting des100
Rough times for some it seems, british trading rules are not so strict luckily.

Anyway I'm off the air now.
I'm a Brit, but it was just easier back then to trade US Stocks, not many UK brokers and huge charges, 13 - 14 years ago when I started with a 56K modem which would disconnect me every 2 hours or something stupid, ahhh the days.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #482
  • Jul 10, 2012 11:44pm Jul 10, 2012 11:44pm
Looks like we may have another leg down seriously . take a look downtrend channel is still deep and 127 is been respected
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finding A M S
  • #483
  • Jul 11, 2012 2:33am Jul 11, 2012 2:33am
Well I was looking at the pivot for a bounce... but now the price action is looking pretty ugly, so I will wait for real momentum to come back into the market before I look for another entry.
  • #484
  • Jul 11, 2012 2:43am Jul 11, 2012 2:43am
Quoting Nexas
Well I was looking at the pivot for a bounce... but now the price action is looking pretty ugly, so I will wait for real momentum to come back into the market before I look for another entry.
Move up on everything started about 1 hour back so stuck till we get a pull back to enter with looking pretty strong so not going to look for a reverse but ran to far to jump in
.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #485
  • Edited 3:45am Jul 11, 2012 2:51am | Edited 3:45am
gbpusd has stalled at a weekly resistance leve, audusd has stalled at the same fib level as yesterday. eurusd at its pivot/psych level, I'm in short eurusd @ 1.2272. TP is 1.22255. R:R 1:3

risk is quite low

stopped out -14

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  • #486
  • Jul 11, 2012 3:15am Jul 11, 2012 3:15am
I'm short Euro
  • #487
  • Jul 11, 2012 3:17am Jul 11, 2012 3:17am
Quoting Nexas
I'm short Euro
The next support down longer term looks like it'll be 1.22, going back to june or july last year, a clean break through 1.2250 would be nice.
  • #488
  • Jul 11, 2012 3:38am Jul 11, 2012 3:38am
out for a 10 pip loss...
  • #489
  • Jul 11, 2012 3:40am Jul 11, 2012 3:40am
Quoting GDR3k
The next support down longer term looks like it'll be 1.22, going back to june or july last year, a clean break through 1.2250 would be nice.
It would indeed :-)

Will try again if the pivot gets rejected again
  • #490
  • Jul 11, 2012 3:40am Jul 11, 2012 3:40am
I am long AU from 1.0204.
A good day seems.


Fractal
Follow the smart money. Follow the probability.
  • #491
  • Jul 11, 2012 3:43am Jul 11, 2012 3:43am
Ok no more trades until we see the Euro break down or up... but a real move in either direction...
  • #492
  • Edited 4:00am Jul 11, 2012 3:43am | Edited 4:00am
Quoting Nexas
It would indeed :-)

Will try again if the pivot gets rejected again
Not liking that fast upmove there, my stops jsut been hit -14, I wonder what caused that rapid upmove? probably some 'fx guru' idiot on twitter running his mouth off saying some rubbish

regarding how volatile currencys are with their up and down moves, the DOW looks ever more promising.
  • #493
  • Jul 11, 2012 3:46am Jul 11, 2012 3:46am
Quoting Turveyd
I'm a Brit, but it was just easier back then to trade US Stocks, not many UK brokers and huge charges, 13 - 14 years ago when I started with a 56K modem which would disconnect me every 2 hours or something stupid, ahhh the days.
Talking about stocks,I just opened my account with Hotforex to just star trading them again! I prefer FX, but its great to dabble in the individual shares now and again! I wonder if more broker's will start to offer stocks??
  • #494
  • Jul 11, 2012 4:13am Jul 11, 2012 4:13am
Quoting Jwfx
Talking about stocks,I just opened my account with Hotforex to just star trading them again! I prefer FX, but its great to dabble in the individual shares now and again! I wonder if more broker's will start to offer stocks??
Stocks are better for swing trades if you can find ones which aren't dragged around to much by the news then multiway holds work well unlike forex where direction changes hourly are the norm.


I fell back to sleep sounding like I was better out anyway
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #495
  • Jul 11, 2012 4:16am Jul 11, 2012 4:16am
Still prefer the dax just moved twice the pips the Dow has and 1 pip spread rather than 6 huge scaly saving.

Might have to become a dax specialist if it keeps looking so good.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #496
  • Jul 11, 2012 4:25am Jul 11, 2012 4:25am
Quoting Turveyd
Still prefer the dax just moved twice the pips the Dow has and 1 pip spread rather than 6 huge scaly saving.

Might have to become a dax specialist if it keeps looking so good.
What analysis do you use to trade the DAX? these index's do look more stable with less whip saw moves compared to currencys
  • #497
  • Jul 11, 2012 5:02am Jul 11, 2012 5:02am
Quoting GDR3k
What analysis do you use to trade the DAX? these index's do look more stable with less whip saw moves compared to currencys

Chart is attached, mainly off MA's as seen on the chart, but also I look for areas of buyers or sellers and then join them, or on turns over the fastest white MA on my chart.

Also higher high's and like you the 00's GER30 6400 support there.

Mainly tight SL's, risk a little to make a lot relatively ofcourse.


I use the slower dash MA's as S/R areas and the gauge the longer direction, which I try to trade with, but not always.

Confuses ?? welcome to my world!!
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Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #498
  • Jul 11, 2012 5:10am Jul 11, 2012 5:10am
GU keeps running into sellers @1.5569 area, could be worth playing a reversal off with a tight SL ofcourse

Short 1.55649 SL 1.5574 ( will lower when it's dropped a tad )
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #499
  • Edited 5:32am Jul 11, 2012 5:12am | Edited 5:32am
Quoting Turveyd
Chart is attached, mainly off MA's as seen on the chart, but also I look for areas of buyers or sellers and then join them, or on turns over the fastest white MA on my chart.

Also higher high's and like you the 00's GER30 6400 support there.

Mainly tight SL's, risk a little to make a lot relatively ofcourse.


I use the slower dash MA's as S/R areas and the gauge the longer direction, which I try to trade with, but not always.

Confuses ?? welcome to my world!!
I'm going to start looking at index's, they look like a daytraders wet dream, the moves seem more solid and directional and less chance of spikes/whipsaw moves, less unpredictablilty aswell which is the main thing, technical wise they seem to respond better than currencys, more chance of support becomes resistance, they respect fib levels well too.

Gonna demo these index's for a while until I'm comfy trading them, since I trade for a living if I can simplify my income but make just as much, with less of the risk compared to currencys, I'll convert over.

I've just entered short on the DOW at 12619, right on 'support turned to resistance' plus its the 50% fib level from the most recent swing high to swing low and todays daily pivot, if that is even used on the DOW. TP is 12552.

Closed that trade for +6
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  • #500
  • Jul 11, 2012 5:16am Jul 11, 2012 5:16am
Quoting GDR3k
I'm going to start looking at index's, they look like a daytraders wet dream, the moves seem more solid and directional and less chance of spikes/whipsaw moves, less unpredictablilty aswell which is the main thing, technical wise they seem to respond better than currencys, more chance of support becomes resistance, they respect fib levels well too.

Gonna demo these index's for a while until I'm comfy trading them, I've just entered short on the DOW at 12619, right on 'support turned to resistance' plus its the 50% fib level from the most recent...

We are on the same page there mate, upgraded my account a few weeks back to a standard from Micro, Micro you can't trade Index's forgot until a few days ago.


1 pip spread on the DAX is awesome, scalpers wet dream, you can get out on a 4pip move and make 3 pips rather than BE area.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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