Forex trading live calls and set ups

[leovirgo]

What's the average long term swing trailing stop distance? 2xATR?

It varies. There are more than one way to swing and I have my own way. You'll see it eventually. It may or may not work, it's up to the markets.

Leo,y:smartuve called one trade in two weeks,how can I live on that.perhaps the the swan will share his scalping method or let us piggy back his trades

It was a winner (the one on Friday). Seriously, how much do you wanna make per week? USD1,000~2,000 isn't enough for you? It's more than enough for average UK living costs.

 

[leovirgo]

You said you trade at £20 per pip, then you just need 50 pips to make £1k in a week. 2 x25 pips winning trades will do.

 

[Lord Flasheart]

It varies. There are more than one way to swing and I have my own way. You'll see it eventually. It may or may not work, it's up to the markets.



It was a winner (the one on Friday). Seriously, how much do you wanna make per week? USD1,000~2,000 isn't enough for you? It's more than enough for average UK living costs.

Thats ample Leo,how accurate do you think you will be,you have no track record in swinging. Now that youve gone to the other side and jumped in the lake with the swan you are an unknown quantity.
As I mentioned earlier I am working on something that should produce 80-100 pips a week effortlessly by about 12 am. Currently I average that butt with violent account swings that isnt good for your healthUntill I am ready to tell all about Old Ma Flashearts secret trading recipe:smart: I will have to plod on with the lines

 

[Black Swan]

The last thing I'd ever want to do is *upset* your mojo we are all such different creatures doing this, heh without it (the difference) we wouldn't have S&R.. Your enthusiasm for our 'job' is infectious, you have to have positive expectancy for your positive expectancy whatever TFs we trade...But if I traded the small TFs exclusively I'd be looking at my long term average gains/losses (and the probs) to gauge what's a realistic target per day trading 1-3 pairs only. If it was me I'd take the 40-60 pips in the morning and stop. If I hadn't reached that, perhaps only reached 20, but my experience suggested 50 was possible, I'd continue trading until I reached that daily target with perhaps a 3-5% daily limit to losses.

One thing I've done recently which I'm stopping as of today, is trading too many pairs off the short term. I've really *got away* with it today, (even went back into EUR/CHF), but I'm going back to short term trading the Euro (EUR/USD) only as of tomorrow morning...I'm short (all) Euro swings too atm...

if I hit 40-50 in the morning it should be job done, if I don't I may take a few more opps that offer themselves up throughout the day (if I'm available). IMHO (and my experience) trading the one pair, the most traded other than USD/JPY, off the same TF, with the same proven method day after day, week after week will prove (and has for me in the past) profitable.

I can take 150-200 off 5 min TFs on the Euro alone during the week, that's my new (old)target restored, this'll (should) add nicely to the running P&L of the swing trades...

The discipline for swing-trading is different but not that much..not when you consider how quickly a week flys past in this game etc..If I were you and wanted to start on longer term TFs I'd open a micro and play with it, just on 2-3 pairs, keeping it separate to your other trading, but taking it seriously obviously, just build it up. If you lost circa 130 pips, but it's only 40 quid, it's pride that's *hurt* not the wallet..

 

[Lord Flasheart]

You said you trade at £20 per pip, then you just need 50 pips to make £1k in a week. 2 x25 pips winning trades will do.

No i said I rarely trade more than £20pp. But yes if you can garantee me two x 25 pip trades a week,i will happily join you in the lake

 

[leovirgo]

Thats ample Leo,how accurate do you think you will be,you have no track record in swinging. Now that youve gone to the other side and jumped in the lake with the swan you are an unknown quantity.
As I mentioned earlier I am working on something that should produce 80-100 pips a week effortlessly by about 12 am. Currently I average that butt with violent account swings that isnt good for your healthUntill I am ready to tell all about Old Ma Flashearts secret trading recipe:smart: I will have to plod on with the lines

You are no different to me when you have your new method.

 

[Scotty2Cues]

I am down with flu. Going to take it easy today.

Hi Scotty2Cues, welcome! Sometimes, unhappy trades pay off really well. EU on my buy list, too.

thanks!

 

[Scotty2Cues]

order just been hit but im not happy

sl to be which is early but for some reason didnt want my first to be a loser

and i think if it goes below 1.3680 again its going alot lower

 

[Lord Flasheart]

I can take 150-200 off 5 min TFs on the Euro alone during the week, that's my new (old)target restored, this'll (should) add nicely to the running P&L of the swing trades...

How about for one week,you call these trades out for us
or at least give a detailed set up procedure

 

[leovirgo]

No i said I rarely trade more than £20pp. But yes if you can garantee me two x 25 pip trades a week,i will happily join you in the lake

I will never reveal my method. I've said more than enough on this thread (also on my vwap engine journal). I will just post my trades if and when I can do it within reasonable time after I took my trade. I won't bother how many pips I can call on this thread because what I actually make in my accounts is "the reality". I don't need no audit nor certification. :smart:

 

[Lord Flasheart]

giving eur/gbp a gp
short 8871 s/l 12
euro could fall right off so offeres good r/r

MEANWHILE back at the office
1/2 off at +20, rest to b/e
as Ive said beofre i use bigger stakes on eur/gbp so happy days
bout time you swingers realised the importance of t/lines and not lower highs

 

[Scotty2Cues]

hit sl at be

 

[Lord Flasheart]

I will never reveal my method. I've said more than enough on this thread (also on my vwap engine journal). I will just post my trades if and when I can do it within reasonable time after I took my trade. I won't bother how many pips I can call on this thread because what I actually make in my accounts is "the reality". I don't need no audit nor certification. :smart:

True but this is a live call thread which you set up and have insisted all trades are live.

 

[leovirgo]

True but this is a live call thread which you set up and have insisted all trades are live.

Of course it is. And yes, all trades posted here are live. But it is not a live call service where I call all my trades. Hope this is clear.

 

[Black Swan]

I can take 150-200 off 5 min TFs on the Euro alone during the week, that's my new (old)target restored, this'll (should) add nicely to the running P&L of the swing trades...

How about for one week,you call these trades out for us
or at least give a detailed set up procedure

Julian I'll have a think on that, no offence but as you know I've always avoided/struggled with these types of threads as they tend to alter my trading behaviour, even if it's only in subtle ways. After you and Leo resurrected I thought "yeah, why not"...

I like the lulz of the forums, I like having a good 'geek-out' over stuff that *normal* folk would stab their eyes out listening to us, but as for trading I've always just flown low, kept my head down, got stuck in day after day, week after week and done the job. I've no interest/aspirations to be a tutor, or to think others are waiting for my *signals*...I'd hate that tbh..

This morning I really got away with it, big time, 4 trades 4 winners, but tbh I'm feeling a bit odd/off given I stepped out of the zone of what I know works for me, and I know the probs/experience now suggest I'll not repeat that for some time. btw I *blame* you for the second EUR/CHF trade..your enthusiasm infected me..

 

[Lord Flasheart]

Of course it is. And yes, all trades posted here are live. But it is not a live call service where I call all my trades. Hope this is clear.

Perfectly clear, but as you know there is little point in posting after the event. Even if you only call one trade a year on here I would hope it is in real time otherwise this thread is in danger of becoming a journal.

 

[leovirgo]

..IMHO (and my experience) trading the one pair, the most traded other than USD/JPY, off the same TF, with the same proven method day after day, week after week will prove (and has for me in the past) profitable.

Agree. I started with GBPUSD with one method in late 2006. It returned 100% in 4 weeks and I managed to withdraw initial capital from the account. But it suffered drawdowns in month 6-9 and I started looking for other methods and other pairs to hedge the first method. Then it took me a year to come back to forex. Then I realised that the drawdowns only lasted 3-4 months in a year (more of a seasonal nature). That's why I took 2 months break during summer to cut the drawdown cycle. Now I am back to basics.

 

[Lord Flasheart]

Julian I'll have a think on that, no offence but as you know I've always avoided/struggled with these types of threads as they tend to alter my trading behaviour, even if it's only in subtle ways. After you and Leo resurrected I thought "yeah, why not"...

I like the lulz of the forums, I like having a good 'geek-out' over stuff that *normal* folk would stab their eyes out listening to us, but as for trading I've always just flown low, kept my head down, got stuck in day after day, week after week and done the job. I've no interest/aspirations to be a tutor, or to think others are waiting for my *signals*...I'd hate that tbh..

This morning I really got away with it, big time, 4 trades 4 winners, but tbh I'm feeling a bit odd/off given I stepped out of the zone of what I know works for me, and I know the probs/experience now suggest I'll not repeat that for some time. btw I *blame* you for the second EUR/CHF trade..your enthusiasm infected me..

Totally understand your reasons. I do it as to home on my discipline,but at times have fallen curse to the thread. I dont think many see this as a signal service. Once people see a few wrong trade they think "that guys no good anyway".
Its a good place for a live chat anyway

 

[leovirgo]

Perfectly clear, but as you know there is little point in posting after the event. Even if you only call one trade a year on here I would hope it is in real time otherwise this thread is in danger of becoming a journal.

You are making this complicated. I will post my trades if and when I can do it within reasonable time. That's what I've done in the past. Nobody can post in real time (except demotraders who don't actually place orders in the system). I have increased my stakes, therefore, I won't bother posting until all my orders are accepted.

 

[leovirgo]

Sell UJ 83.23 sl 83.40