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Trading at University, Advice Needed

  • #1
  • First Post: Feb 7, 2016 7:27am Feb 7, 2016 7:27am
I'm in university currently, however I've been learning how to trade on the side. I was wondering if there's any advice anyone can give me to make my trading more efficient.

Below are some trades I've placed in the last 3 weeks, using the higher time frames (1day and 12hr). Because I'm at uni I can't be actively viewing the markets movements so I'm heavily reliant on SL and TP levels, as you may notice on the "exit price".
Attached Image (click to enlarge)
Click to Enlarge Name: trades _18.01.16-05.02.16.png Size: 72 KB
  • #2
  • Feb 7, 2016 7:55am Feb 7, 2016 7:55am
Quoting Pharaoh.fx
I'm in university currently, however I've been learning how to trade on the side. I was wondering if there's any advice anyone can give me to make my trading more efficient. Below are some trades I've placed in the last 3 weeks, using the higher time frames (1day and 12hr). Because I'm at uni I can't be actively viewing the markets movements so I'm heavily reliant on SL and TP levels, as you may notice on the "exit price". {image}
I am available for basic advice. I need to see a chart.
If you are good at something, never do it for free--Joker
  • #3
  • Feb 7, 2016 9:36am Feb 7, 2016 9:36am
Quoting Pharaoh.fx
I'm in university currently, however I've been learning how to trade on the side. I was wondering if there's any advice anyone can give me to make my trading more efficient. Below are some trades I've placed in the last 3 weeks, using the higher time frames (1day and 12hr). Because I'm at uni I can't be actively viewing the markets movements so I'm heavily reliant on SL and TP levels, as you may notice on the "exit price". {image}
Pharaoh what I would recommend you is.....
To always look and trade in the direction of the longer time frame, 2 to 4 times higher. This will bring up your averages.
Like I say, never forget the trend. That is magic for me. It is that simple, so if you trade the 4h look also at the daily direction.
Just pick a tool that you are comfortable with and create your strategy, that is it. After this it is only discipline and money
management.
Have fun.

4x
  • #4
  • Feb 7, 2016 1:27pm Feb 7, 2016 1:27pm
Quoting Pharaoh.fx
I'm in university currently, however I've been learning how to trade on the side. I was wondering if there's any advice anyone can give me to make my trading more efficient. Below are some trades I've placed in the last 3 weeks, using the higher time frames (1day and 12hr). Because I'm at uni I can't be actively viewing the markets movements so I'm heavily reliant on SL and TP levels, as you may notice on the "exit price". {image}
If you continue to trade with a track record similar to your last month, don't get advice from anyone because their trading is probably not as good as yours. Don't fix if it's not broken.
  • #5
  • Feb 7, 2016 2:42pm Feb 7, 2016 2:42pm
Quoting srt
{quote} If you continue to trade with a track record similar to your last month, don't get advice from anyone because their trading is probably not as good as yours. Don't fix if it's not broken.
Spot on.
  • #6
  • Feb 9, 2016 5:03am Feb 9, 2016 5:03am
Thank you for the advise guys/gals.
When it comes to account balance however what is recommended, for example if I want to risk/ win 10 (±5), what should my account balance roughly be. I was thinking that it should be ≈ 100 (10% of balance).
  • #7
  • Feb 9, 2016 5:24am Feb 9, 2016 5:24am
Quoting jmn5611
{quote} I am available for basic advice. I need to see a chart.
It hit 23.6% (red) yesterday. Thoughts?
Attached Image (click to enlarge)
Click to Enlarge Name: cT_cs_7031958_NZDUSD_2016-02-09_11-20-36.png Size: 259 KB
  • #8
  • Feb 9, 2016 7:40am Feb 9, 2016 7:40am
Quoting Pharaoh.fx
Thank you for the advise guys/gals. When it comes to account balance however what is recommended, for example if I want to risk/ win 10 (5), what should my account balance roughly be. I was thinking that it should be ≈ 100 (10% of balance).
Too high. 1-2% of risk.

Quoting Pharaoh.fx
{quote} It hit 23.6% (red) yesterday. Thoughts? {image}
You are in an uptrend. Buy pullbacks.
If you are good at something, never do it for free--Joker
  • #9
  • Feb 9, 2016 9:16pm Feb 9, 2016 9:16pm
If you're in university... you should focus on your study. but then again.. what am i doing...
  • #10
  • Feb 20, 2016 12:51am Feb 20, 2016 12:51am
Quoting 4xPIPAHOLIC
{quote} Pharaoh what I would recommend you is..... To always look and trade in the direction of the longer time frame, 2 to 4 times higher. This will bring up your averages. Like I say, never forget the trend. That is magic for me. It is that simple, so if you trade the 4h look also at the daily direction. Just pick a tool that you are comfortable with and create your strategy, that is it. After this it is only discipline and money management. Have fun. 4x
By the time you recognize the "trend", you're buying at the top and selling at the bottom. Buying at the bottom and selling at the top is how you make money, not the other way around.
  • #11
  • Feb 20, 2016 6:16am Feb 20, 2016 6:16am
Quoting Kanzler
{quote} By the time you recognize the "trend", you're buying at the top and selling at the bottom. Buying at the bottom and selling at the top is how you make money, not the other way around.
Yes I agree with you up to a point... but it depends when you realize the trend is there...your method probably catches the trend late, I am in right in beginning.
It also depends what time frame you trade.... look at the JPY pairs...you want to tell me you would not catch the trend??
Go on the daily..look even on the CAD or GBP.. you cannot catch that trend? I have been doing this for 20 years.... but maybe you are not a trend trader.
I am going to unblock an explorer that I started on Dec called "Testing 1"... this is trend trading my way....
Like father Kennedy once said.... "catching the meat of the move is magical...I never get in too early and never get out too late"....

http://www.forexfactory.com/4xpipaholic#acct.10

But of course you could be a S/R trader or a reversal trader.... as long as you make money it is all good and for me there is nothing like trend trading.

Have a good weekend!

4x
  • #12
  • Feb 20, 2016 6:22am Feb 20, 2016 6:22am
I agree and am a trend trader myself.
The Trend Is Your Friend
  • #13
  • Feb 20, 2016 9:23am Feb 20, 2016 9:23am
Quoting 4xPIPAHOLIC
{quote} Yes I agree with you up to a point... but it depends when you realize the trend is there...your method probably catches the trend late, I am in right in beginning. It also depends what time frame you trade.... look at the JPY pairs...you want to tell me you would not catch the trend?? Go on the daily..look even on the CAD or GBP.. you cannot catch that trend? I have been doing this for 20 years.... but maybe you are not a trend trader. I am going to unblock an explorer that I started on Dec called "Testing 1"... this is trend trading my...
I'm a reversal trader in some sense, you have a good weekend too mate.
  • #14
  • Feb 20, 2016 3:15pm Feb 20, 2016 3:15pm
Quoting Kanzler
{quote} I'm a reversal trader in some sense, you have a good weekend too mate.
You are a reversal trader... that is good...as long as money prints Thank you you too have a great weekend.

4x
  • #15
  • Feb 20, 2016 7:08pm Feb 20, 2016 7:08pm
Hello, Iv been adjusting my technical analysis and strategy. My graphs were too populated making it really difficult to so Iv changed them quite a bit. Its allowing me to place trades with greater pip yield.
Comparing the chart below with the chart above (same pair) shows how much Iv adapted. Same strategy at the base.
Attached Image (click to enlarge)
Click to Enlarge Name: cT_cs_7031958_NZDUSD_2016-02-21_01-07-21.png Size: 263 KB
  • #16
  • Feb 21, 2016 10:23am Feb 21, 2016 10:23am
Hi Pharaoh.fx, I'm new to FF. I'm also another university student, hence your thread caught my eye. May I ask if it is possible to get the template you are using to record your trades? That's a neat excel you have there, and I'm looking to properly record my trading.
  • #17
  • Feb 22, 2016 6:31am Feb 22, 2016 6:31am
Quoting humphreydw
Hi Pharaoh.fx, I'm new to FF. I'm also another university student, hence your thread caught my eye. May I ask if it is possible to get the template you are using to record your trades? That's a neat excel you have there, and I'm looking to properly record my trading.
http://forums.babypips.com/other-tra...g-journal.html
  • #18
  • Mar 1, 2016 3:45pm Mar 1, 2016 3:45pm
Im a university student too. Well, swing trading may suits you well. At the moment, Im using supply and demand technique with daily trend. More relax. I look at the chart once a day.
  • #19
  • Mar 2, 2016 10:37am Mar 2, 2016 10:37am
Quoting Remax
Im a university student too. Well, swing trading may suits you well. At the moment, Im using supply and demand technique with daily trend. More relax. I look at the chart once a day.
Do you have any good articles I can read to learn about swing trading? My trading strategy is just something I made from combining different strategies Iv come across.
  • #20
  • Mar 2, 2016 6:24pm Mar 2, 2016 6:24pm
I'm going to be off for a while (month or two), think I'v gotten all I needed. I may update on my progress in the future.
I'v also looked up the swing strategies ect, so no need to post it if you don't want.
Wish all you guys luck with your trades.
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