Full Time FX Trading

Quoting 5abi

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For those of you who are more adventurous, a USDCAD short opportunity tight tight stops @ 25 pips. I am not taking it since market is slow. {image}

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Quoting 5abi

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I think of myself as a sniper. I lay in wait for hours, for days at times for the right opportunity. Dollars in your account are like your bullets. Do not waste your ammo on false targets. Wait for the right opportunity and then go for the jugular. This game is all about discipline and patience. Any fool can be in market all the times, and end up losing. Be careful of over trading my friends.

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Quoting Masterrmind

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Any other trader short UC? You can't claim victory after the fact .... remember! Masterrmind...........

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Quoting penci

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{quote} I may be in for quick short scalp once i actually get a valid signal, not trading with a blindfold with such poor liquidity.

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Quoting Masterrmind

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{quote} It appears there is liquidity there just that the bulls have taken charge again at this stage. -15 pips in DD at present. Early days though you have to allow plenty of breathing space for the trade to develop. Right side of chart = great for entry! Left side of chart = not so great .... due to possible turning points based on chart structure (check it!) Lets see! ps. CAD pairs are not what I usually trade but this is a trial run .... hold on tight! Masterrmind...........

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Quoting Masterrmind

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{quote} It appears there is liquidity there just that the bulls have taken charge again at this stage. -15 pips in DD at present. Early days though you have to allow plenty of breathing space for the trade to develop. Right side of chart = great for entry! Left side of chart = not so great .... due to possible turning points based on chart structure (check it!) Lets see! ps. CAD pairs are not what I usually trade but this is a trial run .... hold on tight! Masterrmind...........

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Quoting penci

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{quote} This 5M candle shall be the determinant of the direction of the following few hours. If we get a pin bar or bearing engulfing I will enter a sell trade with TP at 1.3060ish (situational to market movement up to this point). Currently the candle is in bearish engulfing territory but we need a close like this for me to have enough confidence. edit: Trade opened with stops at 1.3206 (quite tight). Price opened at was 1.31575. Good luck everyone.

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Quoting Masterrmind

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{quote} UC {image} rolling over now ........ last M15 candle was a beauty! But if the bulls come back and start pushing price above the white DO line .... I'll depart the trade rather swiftly. I see absolutely no need to exit the trade yet .... patience time! Lets see! Masterrmind............

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Quoting Masterrmind

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{quote} UC {image} Rolling over now ........ last M15 candle was a beauty! But if the bulls come back and start pushing price above the white DO line .... I'll depart the trade rather swiftly. I see absolutely no need to exit the trade yet .... patience time! Luck plays no role here .... watch the order flow.... Lets see! Masterrmind............

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Quoting penci

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{quote} New low in short term timeframe broken into, I see as a sell only in the next few hours. I think we can be happy by the look of this so far MasterrMind One another note, UJ has smashed though 120.5 resistance, if it closes we could see more potential upside to 103 area IMO. But careful with longs on UJ as my overall sentiment is still bearish in longer term.

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Quoting 1colinfirst

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an interesting side point to note in all this USD strength is the fact that AUD has not fallen by much. Last 1 week has seen a rate cut in Australia and a large dollar strength but AUD has held its own. Point to note for those who want to go long on AUD.

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Quoting Masterrmind

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{quote} UC Yes the order flow I'm happy with but there is a nasty support level in and around the 1.31400ish area that price is having a lot of trouble dropping past. If price keeps hesitating at this level I may have to close out the trade and wait for a better entry. Better entry in this case meaning after price finds a way to drop below support. Just as write this I see price has indeed found a way to get below it .... now we are cooking..... or are we? Masterrmind............

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Quoting Masterrmind

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{quote} UC Closed out for a few pips in profit. {image} Price just doesn't want to drop hard below that 131.400ish level. Best option is to take some profit by closing the order. Wait for another entry or search for another pair. When price starts to consolidate on top of a support level the danger of allowing a trade to run is that the bulls could come and take price up higher creating more DD .... best option is to get out! Masterrmind............

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Quoting Pip-Miner

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Quoting 5abi

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The Rules and Examples: The rules are so simple. First, you want to determine which market you will want to trade. Open a daily chart and add a stochastic momentum oscillator with 10, 3, 3 as parameters. It MUST be a daily or weekly chart. Not any lower period. See the attached chart, USDJPY , D1. On July 24th, you see the stochastic are clearly separated, they are almost parallel. This is the kind of visual you want to see on your charts. The stochastic must be parallel. If they are not parallel, then you want to see higher

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Quoting noFXguru

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Maybe an opportunity to sell here before RBNZ on Wed. who are expected to cut rates 0.25 bps. Have to watch PA {image}

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