Out of Gu trade +19 pips
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Another simple system - Time-Frame 15
- #19,249
- Jan 25, 2013 2:56am Jan 25, 2013 2:56am
- Joined Mar 2007 | Status: Trader | 7,195 Posts
Question to the seniors here?.
How many charts do you follow and how do you stay on top of what is going on ?
I find I spend alot of time jumping around between currencies looking for opportunities.
Does anyone have a system to be able to monitor the pairs they follow efficiently ?
Thanks
then less is more. I'm kinda limited in my capabilities and focus on what I am confident with so I watch 3 eur, gu, ej. The temptation is always there to look at guys in 10 trades on different currencies and after thinking WOW then 
if the 10 positions are with correlated pairs (which is highly likely) they are either brilliant or MM is going out of the window if each trade has say 2-3% risk.Anyway I digress have a look at jordfx with his ej focus, on X man thread ph62 trades eur. Trading is not necessarily about doing the most (trading wizards excepted) but its about what you can get right that will give regular trading opportunities on most days.
Pairs have their own feel (ej generally can have more whip than eur) get to know them. Spend less time jumping from one pair to another. Get some patience.
I am reminded of the story of the guy (sits on a mountain in Knysna Heads google it) ex SA stock broker trades 50 lots at a pop on GU higher TF divergence, gets a few trades a month. Less is more. Take that rather extreme example back to reality, how can you effectively watch 10-20 pairs unless you are very, very, very good? I can't.
- #19,251
- Jan 25, 2013 3:15am Jan 25, 2013 3:15am
Unless you are some kind of trading wizard
- #19,254
- Jan 25, 2013 3:37am Jan 25, 2013 3:37am
- Joined Mar 2007 | Status: Trader | 7,195 Posts
Mrs V just phoned to confirm exited EJ for +50. These are my charts at work will post correct entry/exit later.
Strong uptrend as assessed 6.30 gmt. On a Fri she looks at charts a little earlier but has been sick all week and I think this is first trade of week (could be wrong there but don't think so). OK 1hr has moved up this morning, no real retrace in Frankies hour, entry just above 121.50 level with the 15 min engulfing closes (see arrows up).
Out at +50 when the move above R1/RN looking like failing after a big run up today. For not even 2 hrs in front of computer when you are still sick but fed up of bedroom, what can I say
.
Strong uptrend as assessed 6.30 gmt. On a Fri she looks at charts a little earlier but has been sick all week and I think this is first trade of week (could be wrong there but don't think so). OK 1hr has moved up this morning, no real retrace in Frankies hour, entry just above 121.50 level with the 15 min engulfing closes (see arrows up).
Out at +50 when the move above R1/RN looking like failing after a big run up today. For not even 2 hrs in front of computer when you are still sick but fed up of bedroom, what can I say
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- #19,258
- Jan 25, 2013 4:40am Jan 25, 2013 4:40am
- | Joined Jun 2010 | Status: The Villain | 2,565 Posts
Mrs V just phoned to confirm exited EJ for +50. These are my charts at work will post correct entry/exit later.
Strong uptrend as assessed 6.30 gmt. On a Fri she looks at charts a little earlier but has been sick all week and I think this is first trade of week (could be wrong there but don't think so). OK 1hr has moved up this morning, no real retrace in Frankies hour, entry just above 121.50 level with the 15 min engulfing closes (see arrows up).
Out at +50 when the move above R1/RN looking like failing after a big run up today. For not even...
- #19,260
- Jan 25, 2013 4:44am Jan 25, 2013 4:44am
- | Joined Jun 2010 | Status: The Villain | 2,565 Posts
Update!450 pips EJ now!
i exited ej late yesterday for around +190 pips. took the trade the previous day. had to grab hold of what i had as was approaching daily tops.
well done.