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Trading For Those With a 9-5 Job

  • #1,981
  • Nov 10, 2012 7:55am Nov 10, 2012 7:55am
Quoting Olu
Long term analysis of AudUsd
Hi Olu,

I have been watching AUD/USD and believe we are set for a breakout. Can you please explain how you are determing trend?

John
  • #1,982
  • Edited 8:15am Nov 10, 2012 8:04am | Edited 8:15am
Thoughts on eurgbp...

Fundamentally there is support for a fall. UK economy is showing signs of life while we are still on the spain issue in the eurozone. Even Germany is slowing...

Olu
Attached Image (click to enlarge)
Click to Enlarge Name: EurGbp-MWD-10112012.jpg Size: 143 KB
If you think you can or cannot do it you are correct
  • #1,983
  • Nov 10, 2012 1:06pm Nov 10, 2012 1:06pm
Quoting Olu
Emporia thanks for visiting the thread. Thanks for your comments about my trading style. I learnt it (and still learning every day) off a good friend of mine. He contributes to this thread with longer term trades.

About discipline I am trying to conquer this too. There are many opportinuties and setups in the markets and we need the to take the best ones in order to maximise our limited resources. Sometimes what we call the best might turn out to be a damp squid and go nowhere. The best way is to do the analysis and set orders and walk away....
Thank you for your response :-)

I have a quick question... How many opportunities do you find you get per week? What is your strike rate like and what is your average risk reward? Do you mind me asking that? :-)
  • #1,984
  • Nov 11, 2012 6:02pm Nov 11, 2012 6:02pm
Quoting Emporia
Thank you for your response :-)

I have a quick question... How many opportunities do you find you get per week? What is your strike rate like and what is your average risk reward? Do you mind me asking that? :-)
I trade mainly on the daily timeframe in the light of the monthly and weekly charts. Max risk is 100 pips. I use the 4h sometimes with a smaller stop. I generally enter a trade with the intention of it becoming a long term trade and a millipede one but I end up either being stopped out or 1:1, 1:2 or thereabouts. My aim is for 1:loads as I want to hold till trend exhaustion. As you will observe I generally post charts when price is at a decision point i.e hitting resistance or support or certain cadle patterns etc so I might end up taking 4 trades a week. Opportunities are many more. I would rather take fewer trades a week i.e be moore choosy and wait patiently for the best setups.
If you think you can or cannot do it you are correct
  • #1,985
  • Nov 11, 2012 6:06pm Nov 11, 2012 6:06pm
Early $ weakness. The emphasis is on the word early as things can change in a heartbeat...

Olu
Attached Image (click to enlarge)
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If you think you can or cannot do it you are correct
  • #1,986
  • Nov 12, 2012 3:55am Nov 12, 2012 3:55am
Hi,

I am looking at going long on GBPJPY. I would be interested in your opinion...

Below is the H4 and Daily Charts. basically price is bouncing for the 3rd tap of a trend line. Longer term there is overhead resistance.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbyipy daily.gif Size: 34 KB
  • #1,987
  • Nov 12, 2012 5:01am Nov 12, 2012 5:01am
Quoting dug_forex
Hi,

I am looking at going long on GBPJPY. I would be interested in your opinion...

Below is the H4 and Daily Charts. basically price is bouncing for the 3rd tap of a trend line. Longer term there is overhead resistance.
Thanks DG for visiting this thread. GbpJpy imho is weak and might travel down to support @124.69. I have been trying to buy this one but couldnt get a foothold to go long. At work no so I cant process a chart. A bounce would be temporary imho till the stock market stops going down

Thanks
Olu
If you think you can or cannot do it you are correct
  • #1,988
  • Nov 13, 2012 9:03am Nov 13, 2012 9:03am
UsdCad
Attached Image
If you think you can or cannot do it you are correct
  • #1,989
  • Nov 13, 2012 9:44am Nov 13, 2012 9:44am
UsdDkk
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If you think you can or cannot do it you are correct
  • #1,990
  • Nov 14, 2012 4:19am Nov 14, 2012 4:19am
Thoughts on GbpUsd. Stronger employment data released this morning is helpful as well. The risk is well defined.

Olu
Attached Image
If you think you can or cannot do it you are correct
  • #1,991
  • Nov 14, 2012 9:39pm Nov 14, 2012 9:39pm
Quoting Olu
...... My aim is for 1:loads as I want to hold till trend exhaustion. ......wait patiently for the best setups.
Gold......spoken like a true trend follower.
Following these two points will make anyone profitable........

Nice thread Olu
  • #1,992
  • Nov 15, 2012 8:15am Nov 15, 2012 8:15am
Quoting mypipbull
Gold......spoken like a true trend follower.
Following these two points will make anyone profitable........

Nice thread Olu
thanks MPB for your kind comments. Pls dont hesitate to post any material/ideas for trend followers here

Olu
If you think you can or cannot do it you are correct
  • #1,993
  • Nov 15, 2012 4:58pm Nov 15, 2012 4:58pm
My thoughts on audchf
Attached Image (click to enlarge)
Click to Enlarge Name: audchf-WD-15112012-2230uk.jpg Size: 111 KB
If you think you can or cannot do it you are correct
  • #1,994
  • Nov 15, 2012 6:40pm Nov 15, 2012 6:40pm
Quoting Olu
My thoughts on audchf
I like the AUD to the downside also.
I had been shorting the AUD/CHF since mid August.
One thing to consider when shorting this particular pair is the interest swap.
That's not to say you should let the 'cost of doing business' get in the way of 'doing business' but it should be considered.
If the pair falls rapidly it has little impact, but if it wobbles around it can eat into the account.
Just food for thought.
Nice chart Olu.
  • #1,995
  • Nov 15, 2012 8:41pm Nov 15, 2012 8:41pm
Hey Olu & 9/5'rs

Radar time...real estate from boom to bust to boom...maybe bust ?

Only time will tell but it's time to plan ahead.



golfer
Attached Image (click to enlarge)
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  • #1,996
  • Nov 15, 2012 9:10pm Nov 15, 2012 9:10pm
Quoting golferfx
Hey Olu & 9/5'rs

Radar time...real estate from boom to bust to boom...maybe bust ?

Only time will tell but it's time to plan ahead.



golfer
Hi Golfer.

This chart you put up is very bad for property, inflation and homebuilders all at the same time. Thanks for highlighting this sector I will get in there and look for the laggards to put on the short watchlist. Great chart.

Thanks

Olu
If you think you can or cannot do it you are correct
  • #1,997
  • Nov 15, 2012 9:16pm Nov 15, 2012 9:16pm
Quoting mypipbull
I like the AUD to the downside also.
I had been shorting the AUD/CHF since mid August.
One thing to consider when shorting this particular pair is the interest swap.
That's not to say you should let the 'cost of doing business' get in the way of 'doing business' but it should be considered.
If the pair falls rapidly it has little impact, but if it wobbles around it can eat into the account.
Just food for thought.
Nice chart Olu.
MBP

Thanks for your comments. You know I have experienced this scenario you highlighted where you get the analysis right get in and all you see is the rollover carry deducted from your account daily. You are so right. Of the majors aud perhaps has the biggest carry issue. I do need this one to move sharply daily or the 'cost of business' would become significant. Important food for thought

Thanks again

Olu
If you think you can or cannot do it you are correct
  • #1,998
  • Nov 16, 2012 7:11am Nov 16, 2012 7:11am
GbpUsd
Attached Image
If you think you can or cannot do it you are correct
  • #1,999
  • Nov 17, 2012 9:40am Nov 17, 2012 9:40am
EurTry Chart
Attached Image (click to enlarge)
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If you think you can or cannot do it you are correct
  • #2,000
  • Nov 17, 2012 11:05am Nov 17, 2012 11:05am
Inserted Video


One good trend pays for them all...

Oluhttp://www.forexfactory.com/<iframe ...reen></iframe>
If you think you can or cannot do it you are correct
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