Parity seemed a good place to buy.
Dislikedhello c-12. Thanks for your thread. I have be follow for some day i have found it useful. I want to ask how many pairs do you see and wich is your trading money managment. again thanksIgnored
DislikedBasically I look at the EURUSD, GBPUSD, AUDUSD, USDJPY, EURJPY and USDCAD
Money management is 1 lot x 2, 6 pip stop loss and usually 2 or 3 positions. Recently I've been a little more flexible on the rules. Got me in trouble a few times but also helped me stay in a few more trades.
Update on CAD. one position off.. 2 left.Ignored
DislikedC-12, what's the score on the week ?? did you make up for Thursday's issue the rest of the week.
What happened to lose that much dude ??Ignored
I see you trying to swing trade simultaneously with your ltf trading. That is a hard ask as the mindset for both is different IMO. You appear to have an edge on the M1 - may I ask why is it that you dont just build on that without over complicating things? Once you have a proven edge then it is about gradually increasing size....at least this is a common line of thought.
interested in your take
DislikedWell I ended up the week positive(just) but it was a tough week with many lessons learned.
I tried to build a large swing position off the M1 chart that failed miserably. I also tried to pick a few exhaustion tops with the ATR and got stung. It's amazing how much of an impact a string of losses has on your trading.
Even on Friday morning it was very hit and miss but by lunchtime I got back to business. Confidence plays a big part of my trading method so I can't afford to lose composure like that and I need to stick to my plan.Ignored
DislikedC-12, would you mind giving an explanation why to this?
DislikedSure, they're based in Estonia with no UK FSA guarantee so who knows if they might just vanish one day. But for a relatively small (ish) scalping account I really can't complain at all. I've definitely had no cause for concern so far.
I think it's probably a good idea to spread funds around just for safe keeping.Ignored
DislikedI agree with you, however scalping can be very intense and ultimately quite draining.
I'm hoping to get to a situation where I can just make one short term trade per day but also have some open swing and position trades running simultaneously. Once I cut out the silliness I know I can make a good living out of this.
I've just started using a spread betting account but I can't get used to the higher spread. Maybe time to look for another ECN style broker. I like Armada so far but I woudn't want to hold too much with them.Ignored