Intraday Live short term trading calls from an Expert Retail Forex Trader

[MajorMagnuM]

on form here

 

[NVP]

mornin all ..........a few calls from the playbook......market is slow though


http://www.trade2win.com/boards/for...-basic-ideas-strategies-1597.html#post2316594

 

[MajorMagnuM]

ok most things seem to be in a bt.

 

[MajorMagnuM]

mornin all ..........a few calls from the playbook......market is slow though


http://www.trade2win.com/boards/for...-basic-ideas-strategies-1597.html#post2316594

yes. news for CAD at lunchtime
I have a question NVP if you have time to answer it

 

[MajorMagnuM]

sold gu

 

[MajorMagnuM]

sl at break even

 

[MajorMagnuM]

feccin finally

 

[Yorkshire Terrier]

Morning all .. not a lot going on so far today, maybe because Easter holidays approaching..

 

[MajorMagnuM]

closed gu short for 5 pips

 

[MajorMagnuM]

ok so here is something i need clarity with.
::: ON chatting to neighbor last night, his brother joins us, topic turns to forex, he decides to take the lead role in the conversation. main points made with belief and certtainty were as lsited below
1) leave positions open till they come into profit
2) do not trade when London and USA overlap
3) range trading between 8 and midnight is a guaranteed winner
4) it is arrogant for me to(!?!!) think any lines i draw might could help me trade as the data set will never be big enough for me to take into account all the facts that may influence the next turn in price
5) only trade between 7 and 9 am
6) there is more but the above was enough

if all this is right, and he was emphatic, i have seriously got the wrong end of the stick on how to trade
Any opinions on this, i am happy to stand corrected if i am wrong

 

[MajorMagnuM]

bought the GU

 

[MajorMagnuM]

Sl hit -1.8

 

[MajorMagnuM]

Range just to tight now gu

 

[MajorMagnuM]

Bought gu

 

[MajorMagnuM]

Sl hit -1.8

 

[MajorMagnuM]

Just seen ej. Missed that one

 

[NVP]

steady dude - its an ar*ewipe market so far today

 

[MajorMagnuM]

steady dude - its an ar*ewipe market so far today

indeed. Stepping out to enjoy sun for a while.

 

[klw]

ok so here is something i need clarity with.
::: ON chatting to neighbor last night, his brother joins us, topic turns to forex, he decides to take the lead role in the conversation. main points made with belief and certtainty were as lsited below
1) leave positions open till they come into profit
2) do not trade when London and USA overlap
3) range trading between 8 and midnight is a guaranteed winner
4) it is arrogant for me to(!?!!) think any lines i draw might could help me trade as the data set will never be big enough for me to take into account all the facts that may influence the next turn in price
5) only trade between 7 and 9 am
6) there is more but the above was enough

if all this is right, and he was emphatic, i have seriously got the wrong end of the stick on how to trade
Any opinions on this, i am happy to stand corrected if i am wrong

Major -- What is important more than anything is what works for YOU.

If he is successful at trading following those points then good for him , it doesn't mean that the next guy will be successful doing the exact same thing. Trading is finding out through personal experience what works for you and what doesn't.

Why don't you do your own analysis on each point raised , a set number of trades and compare results against your norm , if , you believe he is successful ?

I can't ever see no.1 being correct for your current style of trading.

Lines -- Depends on how good you are at drawing them and how you interpret the price action's reaction to it , if any . They are just a part of the jigsaw.

There seem to be thousands who are experts at trading these days !!! A famous golfer some years back now, said " I listen to all the advice that people seem so keen to give me and just pick out the bits that I think I can use in my game and disregard the rest "

So true for most things in life.

 

[tdezo]

This must be from some forex witchcraft manual , especially point 1.