The Fundamentals of Trading | Page 24 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Successful Fundamentals trading (DAY Trading WILL BE Ignored) 17 replies

Book suggestion for Forex News and Fundamentals Trading 1 reply

trading with fundamentals is the only way to go 129 replies

Trend Trading FUNdamentals 3 replies

importance of fundamentals/technicals in intraday trading 0 replies

Attachments: The Fundamentals of Trading
Exit Attachments

The Fundamentals of Trading

  • #461
  • Apr 21, 2016 3:39pm Apr 21, 2016 3:39pm
Quoting sweetaction
GJ First real level for a while coming up commencing at 15850, i personally think it could run to 15940,well see Simon
This is what I am looking at GJ at the min, we had a good run up and then down, 158.30 was a minor but did held nicely. Have a look at chart and would like to hear your thoughts.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 159 KB
  • #462
  • Edited 11:15pm Apr 21, 2016 4:38pm | Edited 11:15pm
Good Morning Traders

Before we get started can I just say that I am shocked to hear the news about Prince this morning, what a massively talented unconventional musician, songwriter, performer he was, in a year where we have lost Bowie its very sad to have this news as well, at least we have his catalogue of music, that thankfully lives forever.

Simon

Ps - I noticed this pic online which was snapped outside the newtown firestation in Sydney this morning. says it all really.
Attached Image
99% of Traders fail, so don't follow the herd
  • #463
  • Apr 21, 2016 4:43pm Apr 21, 2016 4:43pm
Quoting SuperP
{quote} Very impressive! could you please explain your entry level? I see a 2.0400-2.0420 lvl on the weekly chart and a 2.0357 lvl on the daily. Which one is verified? thank you! SuperP
Hi Super
Good question

On the weekly the level at 20366 dosen't look like anything and that's because the rise from that level last time happened very quickly a few days it went like 900 pips, so the weekly does not show it very well. The daily however does show this rise, its look a lot more significant on this chart simply because we have more candles to see it.

Here are my charts

Simon
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GNW1.png Size: 32 KB
Click to Enlarge Name: GND1.png Size: 36 KB
99% of Traders fail, so don't follow the herd
  • #464
  • Apr 21, 2016 5:07pm Apr 21, 2016 5:07pm
Quoting workingforex
{quote} This is what I am looking at GJ at the min, we had a good run up and then down, 158.30 was a minor but did held nicely. Have a look at chart and would like to hear your thoughts. {image}
Hi Working

The issue I have with the 15880 level is the poke through to 15950ish area, you can't discount that because I believe that price will come through 15880 and probe further up the line looking for orders. Its the same scenario at the top around 16180, that it could easily run through. your chart has all the levels marked that I can see for now.

When you have levels like this imo you can't use orders you have to trade it as you see it.

Simon
99% of Traders fail, so don't follow the herd
  • #465
  • Apr 21, 2016 5:18pm Apr 21, 2016 5:18pm
AJ

The AJ trade I telegraphed in a video last evening looks promising now.

Entry - 8585
SL - 8607

We will watch and see where this goes, its hasn't really taken out any huge levels yet, its sitting intraday at 8468 at time of writing, which is a demand level on 1h chart, see what asia has to bring for now.

Simon
99% of Traders fail, so don't follow the herd
  • #466
  • Apr 21, 2016 5:21pm Apr 21, 2016 5:21pm
ECAD and EAUD

Once again i was wrong when having my best guess at which direction draghi might send the market, both of these pairs havn't managed to get past any real levels to the upside, so I think its a sell rallies play for now, and the levels to the downside we spoke about yesterday are all still in play.

Simon
99% of Traders fail, so don't follow the herd
  • #467
  • Apr 21, 2016 5:41pm Apr 21, 2016 5:41pm
Warren Buffett was once quoted as saying that the Stock Market is a device for transferring wealth from the impatient to the patient

The forex market is pretty much the same, so ask yourself which one are you.
99% of Traders fail, so don't follow the herd
  • #468
  • Apr 21, 2016 5:50pm Apr 21, 2016 5:50pm
Illusion of Marketing

The Forex "Industry" would have you believe

- Forex is easy
- Forex will make you millions in a short space of time
- Forex trading can be taught to anybody

As you know I am bit unconventional in my thinking and I would say for the most part this is Complete BULLSH!T, simply because forex is far from easy, it definitely gets easier as you progress, but its never easy.

It true to say that there are large sums of money to be had but getting this money quickly without unrealistic risk is not possible in my opinion.

I am not a believer that anybody can be taught to forex trade. The one vital ingredient is passion, you must really want it, nothing can be achieved without it. The difference between the very best in any field and the rest is MINDSET

Simon
99% of Traders fail, so don't follow the herd
  • #469
  • Edited 4:00am Apr 22, 2016 3:46am | Edited 4:00am
Hello traders,

GBP/NZD
I see a strong buying pressure on this pair. Can it be possible to reach 2.1000 and test it?
According to the daily and 4H charts its achievable.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 57 KB

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 58 KB


SuperP
  • #470
  • Apr 22, 2016 4:06am Apr 22, 2016 4:06am
Evening Traders

Trade Update AJ
Kicked out of AJ, got a small peice off it
Re entered 8581, see how we go this time

Trade Update GJ
Entered at 15881
See how we go, thought it might of pushed through but we'll take it and see

The yen news pushed up the price at the end of the asian session but there isn't follow through it seems.

Here is the news article that triggered the sell off in yen, read it very carefully see if you can spot the issue.

http://news.forexlive.com/!/boj-repo...loans-20160422

Simon
99% of Traders fail, so don't follow the herd
  • #471
  • Apr 22, 2016 3:16pm Apr 22, 2016 3:16pm
Good call superP
  • #472
  • Apr 24, 2016 8:15pm Apr 24, 2016 8:15pm
Sweetaction I have questions about partial profit taking.I am aware of 3 possible scenarios how you can manage profit taking and entering positions.

First most basic you enter your position and you take your TP or SL in full in one trade.

Second you enter a full position and set up multiple TPs and take partial profits as you hit your targets. The drawback I see in this method is if you hit your SL you hit it with your full position and your TPs are partial so if only your first TP is reached you only cash out with less than the full position and if the next trade doesn't work out you lose your full position and overall at a loss. For this scenario you could scale out of a trade and take partial losses as the trade approaches your SL.

Third you enter a smaller position and as your trade goes in your way you add extra positions and you can later take out partial profits as scenario 2. The drawback of this one would be if you enter later positions and then they all turn on you and you lose them all. perhaps you can make it so when you enter a second position you put your first trade at BE. This way you are risking only 1 partial position at a time. I think this is the hardest way to manage trades.

Which of the 3 scenarios do you use to manage your trades and why? Can you give us some tips on how to manage our partial profit taking and SL?
  • #473
  • Apr 25, 2016 12:19am Apr 25, 2016 12:19am
Quoting trickshady
Sweetaction I have questions about partial profit taking.I am aware of 3 possible scenarios how you can manage profit taking and entering positions. First most basic you enter your position and you take your TP or SL in full in one trade. Second you enter a full position and set up multiple TPs and take partial profits as you hit your targets. The drawback I see in this method is if you hit your SL you hit it with your full position and your TPs are partial so if only your first TP is reached you only cash out with less than the full position and...
I do the following, the best way to illustrate is to have an example but first its important to remember that if you wait for the highest probability trades then you can set very small SL, this is key

Example
1. Lets say you have a trade size beginning with 5 lots, and a SL of 25 pips and lets also assume that one pip is worth $50 (just to make the math easy)
2. I normally try and look for trades when using my own funds that are at least 200 to 300 pips, with investor funds where I trade mainly intraday I don't bother using TP targets, just SL and close out for profit trades.

SL = $1250 or 25 pips
TP1 = at least 80 pips I try and get or the nearest level of resistance = 80x$25 per pip = $2000 (take 50% off the table so down to 2.5 lots per pipat the next TP)
TP2 = around 200 pips up the line = 120 pips x $12.5 per pip = $1500 (take another 50% off the table)
TP3 = around 300 pips = 100 pips x $10 per pip = $1000 (take 80% off the table)

Runner left at $2.5p per pip or 5% of the original for as long as the trade runs in my favour

Total Risk = $1250
Total Profit = $4500 plus the runner
R:R = 3.6

Simon
99% of Traders fail, so don't follow the herd
  • #474
  • Apr 25, 2016 12:30am Apr 25, 2016 12:30am
Hi Simon,

I have missed your correlation video(I think sometime back you have uploaded. Is that removed? Could you please provide the page
  • #475
  • Apr 25, 2016 5:22pm Apr 25, 2016 5:22pm
Quoting ramkirshnava
Hi Simon, I have missed your correlation video(I think sometime back you have uploaded. Is that removed? Could you please provide the page
I havent made a video about correlations
99% of Traders fail, so don't follow the herd
  • #476
  • Apr 25, 2016 9:06pm Apr 25, 2016 9:06pm
How exactly do you manage your intraday trades? I mainly trade intraday and probably many of us here trade intraday.
  • #477
  • Apr 25, 2016 10:15pm Apr 25, 2016 10:15pm
Quoting trickshady
How exactly do you manage your intraday trades? I mainly trade intraday and probably many of us here trade intraday.
I have a number of ways to trade intraday

I can't really explain them effectively by writing it I need to video this, I'll put it on the list of to do's.

Simon
99% of Traders fail, so don't follow the herd
  • #478
  • Apr 26, 2016 12:38am Apr 26, 2016 12:38am
Quoting sweetaction
{quote} I havent made a video about correlations
Sorry for the confusion, Simon

Somehow I got confused with this video.
Inserted Video


Thanks!
  • #479
  • Apr 26, 2016 9:26am Apr 26, 2016 9:26am
Hi Simon,

Could you post something about NEWS. Do you consider fundamental factors. or Purely Technical Analysis.
  • #480
  • Apr 26, 2016 2:25pm Apr 26, 2016 2:25pm
Hello there!

AUD/USD
As I see the chart now, the level at 0.76975 served as a strong support from where the prise is heading up to 0.7822 with little pauses.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 22 KB


Although CPI data is being revealed at early dawn (for me) I dont think its gonna be an obstacle to reach that level this week. Its possible I am totally wrong

Cheers!

SuperP
0 traders viewing now