mmmm that sounds like a typical 'do this do that' book , i don't really want methods for trading tbh. just facts about fundamentals etc
Masquerade
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Go to the library and get a book on macro-economics then!
Next week should be another wild week as there is plenty of market moving news coming.
Monday the ISM Manufacturing report, Wednesday, the FOMC will provide the markets with some clarifications on current initiatives. Wednesday will also produce the ISM Non-Manufacturing index which will have implications for Friday’s Non-Farm payrolls report. . That is just the US.
The ECB, BoE and RBA will be announcing rates..fasten your seat belts.
Monday the ISM Manufacturing report, Wednesday, the FOMC will provide the markets with some clarifications on current initiatives. Wednesday will also produce the ISM Non-Manufacturing index which will have implications for Friday’s Non-Farm payrolls report. . That is just the US.
The ECB, BoE and RBA will be announcing rates..fasten your seat belts.
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meh im doing basic macro economics in school ...
Masquerade
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Well read something more advanced :|
Masquerade
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It's all a pile of crap. But enjoy.
i disagree. a chart of price just isn't enough to say 'time to buy'. Sure you could go ahead and do your thing but by not taking a broader view you could be doing something stupid, for example, buying dollar futures/EURUSD when gold breaks out past 1000. Its certainly not the be all and end all , but it'd just give you more confidence buying the dip in an uptrend when you know this uptrend has a fundamental/economic reason
Pippy5000
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It's a thoroughly pointless, overly ornate coin-flip that will be utterly worthless in any practical term. Line up all the armchair economists in the world and you've got one giant, conflicting, font of ignorance. You should learn to trade using proper risk management and strategy. The books we told you to read will teach you to trade and you're turning up your nose to "do this and do that" but since you are using a wipeout-inducing 300 pip trailing stop you are clearly not doing "this and that".
But this thread isn't to be used to for general theories about trading. The rest of the site is filled to the brim with threads like that and they are generally started and patronized by traders who do not last 6 months in the trading world.
There's a beginner's section for demo traders. Also, don't post from multiple accounts as you will be banned for doing so.
But this thread isn't to be used to for general theories about trading. The rest of the site is filled to the brim with threads like that and they are generally started and patronized by traders who do not last 6 months in the trading world.
There's a beginner's section for demo traders. Also, don't post from multiple accounts as you will be banned for doing so.
Then why do we have many many successful fundamental traders...global macro etc.
By the way im not preaching anything here, or at least i don't mean to, but it's probably 75% technical and 25% fundamental imo.
but whatever.
300 pip stop loss for a 500 pip target btw, you suggest a 15 pip trailing stop ?
Pippy5000
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Understanding fundamentals helps, but you need to learn trading first..
Don't use a trailing stop at all.. The market doesn't care about where you entered your trade and as such your trailing stop will be in a meaningless point on the chart. Put your stop behind s/r each time spot breaks a new level. Move it up manually. Take profit on bounces and failures. If you are in a trade and it starts to move against you, get out of it.. The number in the realized p/l column doesn't mean very much although new traders think it does.. it's the number in your margin column that is really meaningful.. Riding a 300 pip loss is devastating to your margin.. it's very bad trading.
Don't use a trailing stop at all.. The market doesn't care about where you entered your trade and as such your trailing stop will be in a meaningless point on the chart. Put your stop behind s/r each time spot breaks a new level. Move it up manually. Take profit on bounces and failures. If you are in a trade and it starts to move against you, get out of it.. The number in the realized p/l column doesn't mean very much although new traders think it does.. it's the number in your margin column that is really meaningful.. Riding a 300 pip loss is devastating to your margin.. it's very bad trading.
