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Simple Trading Using Simple Techniques

  • #41
  • Aug 16, 2016 5:24am Aug 16, 2016 5:24am
i look around FF and see that there are many traders who still believe in news trading and still believe in putting buy and sell orders on either side of price before news and hoping to make money. I have worked at brokers and from personal experience, i can vouch that news trading doesnt work in the long run. Slippage and requotes will kill such strategies. If it works at a specific broker, it means that the broker is a market maker and will kill you sooner or later.
  • #42
  • Aug 16, 2016 6:07am Aug 16, 2016 6:07am
May I ask what do you think about daytrading? Do you know any successful daytraders?
Invincibility lies in the defence; the possibility of victory in the attack
  • #43
  • Aug 16, 2016 7:14am Aug 16, 2016 7:14am
Quoting BBalazs
May I ask what do you think about daytrading? Do you know any successful daytraders?
the type of trading that works for a trader, depends purely on the trader. there is no such thing as this works, that doesnt work or that works, this doesnt work. I can teach the same strategy to 1000 traders and i am very sure that each of them will trade the same strategy in a different way. so whatever type of trading, whatever the type of strategy that you use, ultimately it depends on the trader.

so, yes, i have seen successful day traders and successful scalpers as well. but, for me, that is just too much work. If you are going to sit in front of your screen all day (as most daytraders do) and not have a life, whats the point in trading and whats the point in living? ultimately, as a trader, you choose what works for you. i started as a day trader when i was young and didnt have a family and i could afford to sit in front of the charts all day. Now, i have a family, and i can no longer afford to do that.
  • #44
  • Aug 16, 2016 7:43am Aug 16, 2016 7:43am
Quoting BBalazs
May I ask what do you think about daytrading? Do you know any successful daytraders?
and just to prove the point, i just posted a classic day trade on my blog. Not sure whether i would trade the hourly though
  • #45
  • Aug 16, 2016 10:35am Aug 16, 2016 10:35am
Quoting 1colinfirst
{quote} and just to prove the point, i just posted a classic day trade on my blog. Not sure whether i would trade the hourly though
Sweet, I did not know that you have a blog. I'll take a peek at it.
Invincibility lies in the defence; the possibility of victory in the attack
  • #46
  • Aug 16, 2016 11:03am Aug 16, 2016 11:03am
Quoting BBalazs
{quote} Sweet, I did not know that you have a blog. I'll take a peek at it.
well, i started it just today. felt a little suffocated with all the terms and conditions here!!
  • #47
  • Aug 16, 2016 4:20pm Aug 16, 2016 4:20pm
Quoting 1colinfirst
{quote} well, i started it just today. felt a little suffocated with all the terms and conditions here!!
I can not get access to your blog, that's weird.
  • #48
  • Aug 16, 2016 10:40pm Aug 16, 2016 10:40pm
Quoting NewLiberty
{quote} I can not get access to your blog, that's weird.
thats strange. what does it say?

its at https://1colinfirst.wordpress.com/
  • #49
  • Aug 16, 2016 10:52pm Aug 16, 2016 10:52pm
i have added one more account to my trade explorer that is based on a martingale system. I personally dont prefer such systems but the investor insisted on having it as it gave good returns (assuming it was successful for an extended period of time). I will have an interesting post about martingale systems and what you should do with them , on my blog sometime today.
  • #50
  • Aug 17, 2016 2:37am Aug 17, 2016 2:37am
have put it up now. hope its interesting. a long read though.
  • #51
  • Aug 17, 2016 3:56am Aug 17, 2016 3:56am
Quoting 1colinfirst
have put it up now. hope its interesting. a long read though.
I have read it and it is really interesting. I always had a feeling that pulling off a Martingale strategy is possible, although the risk of ruin is always present. So basically, as long as you have a close enough TP, the chances are good that the price will hit it without blowing the account.
Invincibility lies in the defence; the possibility of victory in the attack
  • #52
  • Aug 17, 2016 4:11am Aug 17, 2016 4:11am
Quoting BBalazs
{quote} I have read it and it is really interesting. I always had a feeling that pulling off a Martingale strategy is possible, although the risk of ruin is always present. So basically, as long as you have a close enough TP, the chances are good that the price will hit it without blowing the account.
yes that is right but the challenge lies in getting the TP close enough and also ensuring that your risk is always kept to the minimum even when large moves happen with little or no retracement.
  • #53
  • Aug 17, 2016 7:53am Aug 17, 2016 7:53am
Would you buy the GBPNZD if it breaks the hight of the abnormal bar, as you said in your blog post? I have been thinking about buying the Pound against the Loonie, but I am a little wary of the recent Brexit sell-off.
Invincibility lies in the defence; the possibility of victory in the attack
  • #54
  • Aug 17, 2016 9:00am Aug 17, 2016 9:00am
Quoting BBalazs
Would you buy the GBPNZD if it breaks the hight of the abnormal bar, as you said in your blog post? I have been thinking about buying the Pound against the Loonie, but I am a little wary of the recent Brexit sell-off.

Be careful, GN already moved more than 200 pips today
  • #55
  • Aug 17, 2016 9:11am Aug 17, 2016 9:11am
Quoting BBalazs
Would you buy the GBPNZD if it breaks the hight of the abnormal bar, as you said in your blog post? I have been thinking about buying the Pound against the Loonie, but I am a little wary of the recent Brexit sell-off.
if it breaks the top of the bar, i would buy. but i would not buy on the breakout, i would buy on the retest.

i expect NZD to weaken slowly but surely. RBNZ would want that. so it makes sense.

Or if you want to trade the strong against the weak, you can choose to go long on audnzd or eurnzd instead.
  • #56
  • Aug 18, 2016 5:24am Aug 18, 2016 5:24am
Quoting 1colinfirst
{quote} if it breaks the top of the bar, i would buy. but i would not buy on the breakout, i would buy on the retest. i expect NZD to weaken slowly but surely. RBNZ would want that. so it makes sense. Or if you want to trade the strong against the weak, you can choose to go long on audnzd or eurnzd instead.
so we have the break now. trade setup in blog.
  • #57
  • Aug 18, 2016 7:52am Aug 18, 2016 7:52am
Quoting 1colinfirst
{quote} so we have the break now. trade setup in blog.
long from 1.8040 and running.
  • #58
  • Aug 18, 2016 11:35am Aug 18, 2016 11:35am
Quoting 1colinfirst
{quote} long from 1.8040 and running.
I was not at home today and missed it. But I've been lucky it's back to that level, will see what to do since there's a bearish engulfing on H1 and decide whether to enter or wait for a retest of the 1.80 level.
EN long @ 1.5545
  • #59
  • Aug 18, 2016 11:39am Aug 18, 2016 11:39am
Quoting L.m
{quote} I was not at home today and missed it. But I've been lucky it's back to that level, will see what to do since there's a bearish engulfing on H1 and decide whether to enter or wait for a retest of the 1.80 level. EN long @ 1.5545
yes EN seems a better option considering the strength of the euro.
  • #60
  • Aug 18, 2016 11:42am Aug 18, 2016 11:42am
Quoting 1colinfirst
{quote} yes EN seems a better option considering the strength of the euro.
but the weekly chart of EURGBP presents a different and interesting picture though. we still have a day in this week. should be interesting tmrw.
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