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Trading Made Simple

  • #32,981
  • Mar 19, 2014 3:13pm Mar 19, 2014 3:13pm
A/U trade taken in the morning but it was stalling all day, I was confident on this one so I let it run whole day and FOMC gave me some good pips on this, Some luck factor was in this plus some experience of price action mixed with little fundamental analysis.
I have taken profit in parts

Tp1= 30 pips
Tp2= 50 pips
Tp3= 67 pips

Closed it early otherwise it moved 100 pips where i placed tp first in the morning

HEre is the screenshot.

Attached Image (click to enlarge)
Click to Enlarge Name: au.PNG Size: 49 KB
I am not random, U just can't think as fast as me....
  • #32,982
  • Mar 19, 2014 3:16pm Mar 19, 2014 3:16pm
Quoting as33156
{quote} Congrats on the pippage TP123 You deserve it.
Thanks bro
How you finished today?
I was busy so i have not read some previous posts yet so thats why asking a summary of pip hunt
I am not random, U just can't think as fast as me....
  • #32,983
  • Mar 19, 2014 3:16pm Mar 19, 2014 3:16pm
How frustrating to see, that I manually closed AU&UJ earlier today with -15&-10 Pips respectively instead of letting them give me 100 pips each by the end of the day. It's my first week trading TMS only, so I hope Pips will come with experience. I think my mistake was monitoring the trades and getting nervous.
"Just enter and leave" is my strategy for the future.
Happy pips to all!
Those who know don't talk. Those who talk don't know.
  • #32,984
  • Mar 19, 2014 3:23pm Mar 19, 2014 3:23pm
Quoting as33156
Completely Destroyed UJ. EPIC pip Profit in just a few minutes. 1st batch closed and the other is still going. EASY MONEY. I need heavy duty tires for my wheelbarrow! {image}
Would you be willing to open a PAMM account?
  • #32,985
  • Mar 19, 2014 3:28pm Mar 19, 2014 3:28pm
Quoting thinkpad123
{quote} Thanks bro How you finished today? I was busy so i have not read some previous posts yet so thats why asking a summary of pip hunt
I made only 92 pips today in total out of 400 pips I should have made if I didn't get out of my EU short to soon & missed the AU Short, GJ Long, & GU Long trades. I'm really disappointed in myself. slacked big time. Still up 324 for the week but it has been a major bust so far as I should be up over 600 pips right now.


http://www.forexfactory.com/showthre...09#post7350909
MAY THE PIPS BE WITH YOU!
  • #32,986
  • Mar 19, 2014 3:28pm Mar 19, 2014 3:28pm
does anybody trade this pair? it moves a lot but the issue with my broker is that it gives a spred of 50 pips!!
the TDI cross on this pair usually yeilds around 200 or more pips. i think i am gonna try this pair with the spread. could be suicide but worth a try
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 196 KB
Come tomorrow, I'll wake up new
  • #32,987
  • Mar 19, 2014 3:32pm Mar 19, 2014 3:32pm
Quoting hugecat
How frustrating to see, that I manually closed AU&UJ earlier today with -15&-10 Pips respectively instead of letting them give me 100 pips each by the end of the day. It's my first week trading TMS only, so I hope Pips will come with experience. I think my mistake was monitoring the trades and getting nervous. "Just enter and leave" is my strategy for the future. Happy pips to all!
"Just enter and leave"

Easy to say but very difficult to act,
Sorry for your loss
We both were in the same trade, Enter best setups and after entry trust your analyses and have patience.
Big E mentioned to look for the head of TDI at candle close if its flat then see whats happening wrong, for me there was nothing wrong like no support nearby, no significant price action to jump out of trade, price was stalling just due to lack of volatility. For me that was not enough reason to exit trade.
Maybe this will help you in future while exiting a trade.
I am not random, U just can't think as fast as me....
  • #32,988
  • Mar 19, 2014 3:36pm Mar 19, 2014 3:36pm
Quoting gsbharaj
does anybody trade this pair? it moves a lot but the issue with my broker is that it gives a spred of 50 pips!! the TDI cross on this pair usually yeilds around 200 or more pips. i think i am gonna try this pair with the spread. could be suicide but worth a try {image}
50 pips spread is a big no for me.
I dont trade a pair with spread of more than 3 pips. I have dropped some good pairs like gbp/nzd and gbp/cad just due to spread of 7 pips.
Look for other good pairs if you want to add , i can make some good additions for you if you will tell me which pairs you are already trading
I am not random, U just can't think as fast as me....
  • #32,989
  • Mar 19, 2014 3:42pm Mar 19, 2014 3:42pm
Quoting as33156
{quote} I made only 92 pips today in total out of 400 pips I should have made if I didn't get out of my EU short to soon & missed the AU Short, GJ Long, & GU Long trades. I'm really disappointed in myself. slacked big time. Still up 324 for the week but it has been a major bust so far as I should be up over 600 pips right now. http://www.forexfactory.com/showthre...09#post7350909
You know how many people are in the red today and almost everyday while you are in profit? 98% of traders. Your a pro!
I am not random, U just can't think as fast as me....
  • #32,990
  • Mar 19, 2014 3:47pm Mar 19, 2014 3:47pm
Quoting thinkpad123
{quote} "Just enter and leave" Easy to say but very difficult to act, Sorry for your loss We both were in the same trade, Enter best setups and after entry trust your analyses and have patience. Big E mentioned to look for the head of TDI at candle close if its flat then see whats happening wrong, for me there was nothing wrong like no support nearby, no significant price action to jump out of trade, price was stalling just due to lack of volatility. For me that was not enough reason to exit trade. Maybe this will help you in future while exiting...
123, I agree, both trades were good. I just chickened out when 4h candle changed color. I have no excuse, my position was pretty small since I'm still getting into the method and don't risk much. I should at least check the trades every 4 hour instead of monitoring them non stop thinking that I will learn something by doing that. I'm not devastated, exactly opposite - i see that my analysis was correct and I have to work on psychology. I'm still up 100 pips this week - something that has never happened to me since I started trading 3 years ago. So the best is yet to come.
Those who know don't talk. Those who talk don't know.
  • #32,991
  • Mar 19, 2014 3:51pm Mar 19, 2014 3:51pm
Quoting thinkpad123
{quote} 50 pips spread is a big no for me. I dont trade a pair with spread of more than 3 pips. I have dropped some good pairs like gbp/nzd and gbp/cad just due to spread of 7 pips. Look for other good pairs if you want to add , i can make some good additions for you if you will tell me which pairs you are already trading
123, would you share other pairs with good swings please? GN, EA, EN are over 10 pips spread on my platform.
Thank you in advance.
Those who know don't talk. Those who talk don't know.
  • #32,992
  • Mar 19, 2014 3:58pm Mar 19, 2014 3:58pm
Quoting hugecat
{quote} 123, I agree, both trades were good. I just chickened out when 4h candle changed color. I have no excuse, my position was pretty small since I'm still getting into the method and don't risk much. I should at least check the trades every 4 hour instead of monitoring them non stop thinking that I will learn something by doing that. I'm not devastated, exactly opposite - i see that my analysis was correct and I have to work on psychology. I'm still up 100 pips this week - something that has never happened to me since I started trading 3 years...
Yep definitely the best will come
You made a good decision to give trades some breathing room.
As i often say there was never a loss for a learner, only a win or a lesson.
I am not random, U just can't think as fast as me....
  • #32,993
  • Mar 19, 2014 4:01pm Mar 19, 2014 4:01pm
Quoting hugecat
{quote} 123, would you share other pairs with good swings please? GN, EA, EN are over 10 pips spread on my platform. Thank you in advance.
I am currently trading following 12 pairs, you can check the spread of these pairs with your broker before picking any of it.
A/j
A/u
C/j
Crude Oil
E/a
E/c
E/j
E/n
E/u
G/a
G/j
G/u
I am not random, U just can't think as fast as me....
  • #32,994
  • Mar 19, 2014 4:04pm Mar 19, 2014 4:04pm
Quoting thinkpad123
{quote} You know how many people are in the red today and almost everyday while you are in profit? 98% of traders. Your a pro!
LOL TP123,

I can't believe you are using my sayings against me now. I like to hold myself to a higher standard. Out of the 400 pips I was suppose to make today I made 92 pips which is less then 25% efficiency. This is very unacceptable for me because if an employee of mines was working at less then 25% of his known productivity unless they were ill or had a death in the family I would really let them have it.

I like to keep my personal efficiency rating in the 75% or higher range. I will sort this out next week. I got start back recording all my trades in my excel sheets this way I can hold myself accountable and not slack. After all I have been doing this for 7 years full-time. :nerd:
MAY THE PIPS BE WITH YOU!
  • #32,995
  • Mar 19, 2014 4:04pm Mar 19, 2014 4:04pm
Quoting thinkpad123
{quote} 50 pips spread is a big no for me. I dont trade a pair with spread of more than 3 pips. I have dropped some good pairs like gbp/nzd and gbp/cad just due to spread of 7 pips. Look for other good pairs if you want to add , i can make some good additions for you if you will tell me which pairs you are already trading
my broker has a fixed spread. EU,UJ,EJ,AU has 3 pip spread. GJ had 8 and AJ has 10. i don't have much options to choose from. basically i stick with yen pairs and aud pairs. i have phobia for trading the EU.
123 do you have any pairs which gives good swing trades?

regards
Come tomorrow, I'll wake up new
  • #32,996
  • Mar 19, 2014 4:07pm Mar 19, 2014 4:07pm
Quoting thinkpad123
{quote} I am currently trading following 12 pairs, you can check the spread of these pairs with your broker before picking any of it. A/j A/u C/j Crude Oil E/a E/c E/j E/n E/u G/a G/j G/u
Thank you sir, i'm on it
Those who know don't talk. Those who talk don't know.
  • #32,997
  • Mar 19, 2014 4:07pm Mar 19, 2014 4:07pm
Quoting thinkpad123
{quote} 50 pips spread is a big no for me. I dont trade a pair with spread of more than 3 pips. I have dropped some good pairs like gbp/nzd and gbp/cad just due to spread of 7 pips. Look for other good pairs if you want to add , i can make some good additions for you if you will tell me which pairs you are already trading
I read this, and thought, that I should re-examine my criteria on pairs vis a vis spread. And didn't. Opened a G/N trade that was INSTANTLY closed out by my SL. Time to do that re-examining...
War. Is my profession.
  • #32,998
  • Mar 19, 2014 4:07pm Mar 19, 2014 4:07pm
Quoting gsbharaj
{quote} my broker has a fixed spread. EU,UJ,EJ,AU has 3 pip spread. GJ had 8 and AJ has 10. i don't have much options to choose from. basically i stick with yen pairs and aud pairs. i have phobia for trading the EU pairs. 123 do you have any pairs which gives good swing trades? regards
Wow that broker sucks those spreads on all those pairs are way to high! You need to move to another ECN asap.
MAY THE PIPS BE WITH YOU!
  • #32,999
  • Mar 19, 2014 4:10pm Mar 19, 2014 4:10pm
OK friends, Europe is going to bed See you all in 7 hours. Yes, I'm skipping that candle in 3 hours for the sake of a healthy sleep.
Good luck and happy pips!
Those who know don't talk. Those who talk don't know.
  • #33,000
  • Mar 19, 2014 4:11pm Mar 19, 2014 4:11pm
Quoting as33156
{quote} Wow that broker sucks those spreads on all those pairs are way to high! You need to move to another ECN asap.
i cant. i have tried oanda and FXCM. they are good brokers but i need a broker which have money bookers for sending and recieving money. instaforex gives that option but it sucks with the spreads so high.
Come tomorrow, I'll wake up new
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