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Joined Jun 2013
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Status: Factum fieri infectum non potest.
|314 Posts
Best of luck with the new thread! Looks to be off go start.
I would recon you would have a good following if you gave clues to your entry rational.
You appear to have three different chart setups to the above three instruments that you are trading, care to elaborate?
Best of luck with the new thread! Looks to be off go start. I would recon you would have a good following if you gave clues to your entry rational. You appear to have three different chart setups to the above three instruments that you are trading, care to elaborate? Catch up Monday - have a good week end.
Ignored
Thank you.
There are thousands of methods and lots of indicators that reveal what has already happend. Having multiple setups allows me to confirm if I made the right choice to enter. Everyday is a learning process. I don't have a specific method. I trade what I feel which is invariably wrong but I do correct my mistakes without fear. I try to make manageable mistakes.
GBPUSD pullback after 350 plus points for the week was a no brainer. 1H MACD revealed this. The obvious target was 38.2%. So sold high and closed near enough to that point. Reentry was obvious too as GBPUSD, I feel, is in a trend reversal. I could be wrong. UK economy is doing fine and it's an election year. Tories need to align the stars for the coming weeks.
Dow pullback to 1H 100ma was overdue and obliged late yesterday. It should resume its uptrend.
Dax is on steroids but needed pullback to 1H 200ma and this also obliged late yesterday. It should resume its uptrend.
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Joined Jun 2013
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Status: Factum fieri infectum non potest.
|314 Posts
Nice thinking. If you post those sorts of thoughts with your trades you should have a very good following.
Some may disagree, and say so as I am sure you know. But stick to your methods as everyone is entitled to their own opinion, the market will soon be the judge of who is right and who is wrong. Looking forward seeing your progress.
A method recommended for beginners and many who are trapped on the wrong side
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candlestick chart
1 H timeframe
50LWMA close
If price is above the MA then on 1st and second pullback, go long and close at a new high for the trend.
If price is below the MA then on 1st and second pullback, go short and close at a new low for the trend.
If the trend is mature, i.e. 45+ candles and has not touched MA then at the third higher high go short or at the third lower low go long until price reaches 50MA where it is best to exit.
It invariably works on all timeframes. I would avoid trading this method during red flag news releases.
Nice thinking. If you post those sorts of thoughts with your trades you should have a very good following. Some may disagree, and say so as I am sure you know. But stick to your methods as everyone is entitled to their own opinion, the market will soon be the judge of who is right and who is wrong. Looking forward seeing your progress.
I did have other trades, in particular sold GBPAUD at 1.9637-42 which I closed around 1.95. Sorry I was unable to publish this but was tired and went to sleep for a couple of hours after entry. Incidentally my target for GBPAUD is 1.9225 but let's wait for better opportunity after this mornings impulse.
I am not going to teach my granny to suck eggs but if you are careful in managing your capital, you can make it here. Just risk 2% - 4% per trade. If your entry is near enough right, you can collect without too much sweat.
