How I Trade While Working Full Time | Page 3 | Forex Factory

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How I Trade While Working Full Time

  • #41
  • Jan 23, 2016 3:37pm Jan 23, 2016 3:37pm
hey, like your style, can U post your indi with around numbers.
The market was bullish, turned bearish, and you'are brokish!!!
  • #42
  • Jan 23, 2016 4:47pm Jan 23, 2016 4:47pm
Quoting FXThug
hey, like your style, can U post your indi with around numbers.
Hi Thug, I am not at my computer right now, but check out post 37 for the indicator.
  • #43
  • Jan 23, 2016 5:27pm Jan 23, 2016 5:27pm
how to entry actually..?
  • #44
  • Jan 23, 2016 7:03pm Jan 23, 2016 7:03pm
Quoting densha75
how to entry actually..?
Check the RSI indicator. If the daily and weekly lines are below 50 I look for sells [long term trend is down] and if both daily and weekly are above the 50 [trend is up] I look for buys. Now I wait for the H4 RSI line to cross over the 50 in the opposite direction of the trend and I enter on the the open of the next candle in the direction of the trend. I always confirm an entry signal with PA - e.g., I will reconsider the trade if a buy is at obvious strong resistance, or if the pullback looks weak compared to previous pullbacks in the trending of that currency pair I might wait another candle, or I might wait for an indecision type candle, and so on. There is some discretion, but not much. My trading style is simple.
  • #45
  • Edited Apr 24, 2016 7:21pm Jan 24, 2016 10:15am | Edited Apr 24, 2016 7:21pm
Quoting FXThug
hey, like your style, can U post your indi with around numbers.
I just realized I may have misunderstood you, Thug. Here is the indicator with the round numbers: { copyrighted attachment deleted by staff }

I have it set for the lines to be 100 pips apart on all my charts.
  • #46
  • Jan 25, 2016 7:24am Jan 25, 2016 7:24am
Only four trades last night. Many of the pairs are not in sync with the weekly and daily trends. I closed out the EURCHF trade with only 15 pips because I entered it into the wrong account! the dangers of trading at 4am...
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-01-25_0751_EURUSD_4AM_SELL_ENTRY.png Size: 49 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-01-25_0754_USDCHF_4AM_BUY_ENTRY.png Size: 50 KB
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Click to Enlarge Name: 2016-01-25_0804_CADCHF_4AM_BUY_ENTRY.png Size: 52 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-01-25_0807_EURCHF_12AM_BUY_CLOSE.png Size: 60 KB
  • #47
  • Jan 25, 2016 9:15am Jan 25, 2016 9:15am
does mtf RSI repaint?
  • #48
  • Jan 25, 2016 3:11pm Jan 25, 2016 3:11pm
Quoting juisen25
does mtf RSI repaint?
Yes. I open/refresh MT4 charts just before trading. Leaving the charts running and using the RSI MTF as it paints over time did NOT work for me.
  • #49
  • Jan 26, 2016 3:21am Jan 26, 2016 3:21am
USDJPY: first position was a BE, second position getting close to BE. My method keeping me out of all [but one of] 26 pairs! AUDCAD still losing, but it could have been a lot worse. I'm pleased with performance so far this week considering this is a trend following method. During periods of consolidation/turnaround I expect to keep losses minimal with my rules.
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-01-26_0357_USDJPY_4AM_STOPPED_1ST_POSITION.png Size: 52 KB
  • #50
  • Jan 26, 2016 7:32pm Jan 26, 2016 7:32pm
Discipline. Discipline. Discipline.

I didn't exercise enough discipline and I paid the price - some breakeven trades that should have been winners and some losing trades.

Also, I can't look back on some decisions I made to analyze my thinking because I neglected to screenshot the chart and document at the time of those decisions.

Showing up isn't enough. Anyone can show up. I've increased the complexity of my day-to-day trading practice so I need to take my discipline to the next level to maintain my edge.

I've implemented the trade manager, which should make my life easier, and now I'm working on fine tuning the settings to improve my results.
  • #51
  • Jan 26, 2016 10:59pm Jan 26, 2016 10:59pm
12am: Cadchf buy.
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-01-26_2354_CADCHF_12AM_BUY_ENTRY.png Size: 54 KB
  • #52
  • Jan 27, 2016 2:58am Jan 27, 2016 2:58am
4AM: ADDED TO CADCHF with another position.
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-01-27_0356_CADCHF_4AM_2ND_BUY_ENTRY.png Size: 57 KB
  • #53
  • Jan 27, 2016 3:38am Jan 27, 2016 3:38am
Hi

How do you calculate where to take profit?
Or do you always close manually?
Which program/website do you use?
What time zone are you using? My Candles donīt look the same as yours.
I live in Sweden

/ Tony
  • #54
  • Jan 27, 2016 3:45am Jan 27, 2016 3:45am
Nice thread. Have a look at Gold. I think I will try your method, but I prefer to enter on the close of a candle when RSI crosses back the 30 level upwards.
Attached Image (click to enlarge)
Click to Enlarge Name: Gold.jpg Size: 130 KB
  • #55
  • Jan 27, 2016 4:03am Jan 27, 2016 4:03am
Similar setup for Silver.

Attached Image (click to enlarge)
Click to Enlarge Name: Silver.png Size: 26 KB
  • #56
  • Edited 7:18am Jan 27, 2016 7:04am | Edited 7:18am
Quoting YnottonY
Hi How do you calculate where to take profit? Or do you always close manually? Which program/website do you use? What time zone are you using? My Candles dont look the same as yours. I live in Sweden / Tony
Hi Tony,

I close trades manually based on what price is telling me. I use MT4 charts. I am EDT and my broker uses NY time also.

There is a rule for when I have multiple positions open on the same pullback. I always exit as soon as the position I put on first is in profit. This morning's CADCHF trade was such a trade. I exited both positions [+42.6 pips] at 8am.
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-01-27_0754_CAD_CHF_8AM_CLOSE_BOTH_BOTH_BUY_POSITIONS.png Size: 55 KB
  • #57
  • Jan 27, 2016 7:12am Jan 27, 2016 7:12am
Quoting chamane
but I prefer to enter on the close of a candle when RSI crosses back the 30 level upwards.
Hi chamane, waiting until the RSI crosses back didn't work for me over the longer term in my testing, but I hope it does for you. I haven't tried this method on Gold or silver. Good luck!
  • #58
  • Jan 27, 2016 8:03am Jan 27, 2016 8:03am
I just entered a long trade for Silver. Let's see how it goes.


Attached Image (click to enlarge)
Click to Enlarge Name: Silver.png Size: 33 KB
  • #59
  • Jan 27, 2016 8:24am Jan 27, 2016 8:24am
Quoting chamane
I just entered a long trade for Silver. Let's see how it goes.
  • #60
  • Jan 27, 2016 8:53am Jan 27, 2016 8:53am
Quoting YnottonY
What time zone are you using? My Candles dont look the same as yours. I live in Sweden / Tony
Tony,

I haven't tried this local time generator indicator, but it comes from a trusted source. Maybe it can help you. ReadMe file included.
Attached File(s)
File Type: ex4 MT4 Local Time Generator.ex4   10 KB | 280 downloads
Attached File(s)
File Type: txt README.txt   1 KB | 430 downloads
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