Recent content by pengeshark

Hi guys, I would just like to say that I really enjoy reading this thread and I love the sense of humor here. Makes me laugh all the time. Keep up the good work:)

Thank you, I actually got out at the first support point where I thought price would react which was the high of the one hour bar at 1500 on Friday - 9219. Normally I take half profit at these points as there is a high probability price reaching it and move my stop to b.e. As I was not awake to...

I was up late Sunday and managed to catch the Pin Formation on the hourly going into Monday morning (EURGBP). Thanks to some people on this site and over on forex factory I have learned to trade them well enough and consistently to see my account go into into profit:) Bless them!

Hi, Like GJ said most people trade eurgbp. On IG the spread for this pair is 2-3 pips. gbpeur is a spread of 6. (Spot)

Hi london, what to look for? there are many different ideas on how to trade successfully on this site (trading methodologies/money management, risk...) Search them out and read through them, pick a method that suits your PSYCHOLOGY and then paper trade it. Keep a record of the results, analyze...

Arogant traders

Skill, I did use the search function quickly by typing in BBC 2 and nothing came up. It’s not like a book where you go to the chapter and the info is just there, there will unfortunately be many things repeated on a net site like this. I can understand your point but I don't particularly like...

BBC 2 show on newbie traders I watched BBC 2 on Monday night with great interest as they had a programme on a group of newbie traders who where given hedge fund money to trade with as proceeded to lose it with alarming speed. It was interesting to see how quickly they lost discipline, traded...

Hi, I was curious if anyone knows what is the higher probability trade is if a breakout of price occurs on a particular security, say break of a trend line. Is it to trade the breakout or wait for a pull back? I know it would also heavily depend on what it is you are trading and the system you...

I trade like to trade on lower time frame charts like 15 and 5 minutes because it allows me to trade with a larger position size and also in instruments I would not be able to trade on higher time frames because of my money management rules, things like copper or crude oil because my stop loss...

Hi Rupert206, I agree with you totally, with good money management and trading with the trend I have found that using simple patterns such as ' Head and Shoulders' 'Triangle patterns' 'Trend lines - support resistance' give high probability trades and over time can yield good profits. I can also...

Thanks everyone so far for you input. Some interesting points, with trading oil I have found that I'm doing ok to well because my system is based on trend momentum and oil seems to suit this. But looking at the last month or two a trailing stop or a longer time frame may have been more...

Thanks, I guess you have also answered my next question that I was thinking of having a fixed target of profit per day daytrading (and a fixed loss as a circut breaker to stop trading) with the profit being 3 times loss. The idea behind this is to have a realistic projection to get me to my...

Hello all. I've been daytrading Crude Oil and EURUSD now for a few months. I have a setup which I look for and a trigger to enter the market plus a strict money management strategy. On each trade my Risk Reward is well defined at least (risk = 1 reward = 2.5). This is determined by the entry...

Sound money Management and good risk reward Trade with a system you have confidence in and be consistent