Forex trading live calls and set ups

[temporarilylight]

Made my 1.5970 - shoulda been braver

 

[oildaytrader]

for the first day we are on the same side.. and not doing well I dare say...

I think we'd better be trading against each other and yet make money at the end of the day..

This is a 5hit market with low daily ranges ,no clear direction and caught in a narrow range.

What would happen if these conditions persisted for 6 months?Just keep out of them.

 

[leovirgo]

This is a 5hit market with low daily ranges ,no clear direction and caught in a narrow range.

What would happen if these conditions persisted for 6 months?Just keep out of them.

it happened for about 20 consecutive days during August 09, for GBPJPY and something similar for UJ at another time. the thing is, if it keeps happening for more than 3 days, my method will get me out of it.

usually, one of the majors set itself up nicely after 3 days.

 

[oildaytrader]

it happened for about 20 consecutive days during August 09, for GBPJPY and something similar for UJ at another time. the thing is, if it keeps happening for more than 3 days, my method will get me out of it.

usually, one of the majors set itself up nicely after 3 days.

Shouldn't be trading in August .Should be on holiday.Seems like an fx addict?

August is traditionally the worst month of the year , cause fund manager and traders are on holiday .There is low liquidity.

 

[temporarilylight]

fisnished.
Not a great day but not bad. (cant be arsed to post another screenshot but up about $280)
I find it hard to put my finger on various market conditions: For those of you who were saying what a poor trading day it is today, why is that? Is it because the range hasn't been very big? Are you generally looking for days with very big swings so that you can jump on a strong trend? I tend to get killed on one way trend days personally. I find it annoying, because typically, when all the guys on trading forums (mainly eliettrader) are complaining about what a poor trading day it was, I have had one of my best days. However, often I have bad days when it seem like the majority of the guys on here have done really well. Cant really put my finger on why, as I try to both catch trends and turns....

 

[Lord Flasheart]

ODT you asked how I trade in a way that implies you disaprove. Let me assure you there are many ways to skin a cat. I began trading 10 years ago and have looked at almost everything possible. During that time I realised the importance of chart patterns,trendlines,price action and divergence. I have only been on this thread for a week or so but have posted some charts,look at them the lines were drawn in advance.Look at my trades ane how accurate some were. I generally take 1/2 of after about 10 pips and move the rest to b/e. Yes I get caught out a fair bit but normally I hit a big move once or twice a week,often more. That is where my pay days come from. Just to touch on another point you raised Timeframes. EVEN IF I WAS TRADING ON A MONTHLY CHART I WOULD STILL USE 1 AND 5 MIN TIMEFRAMES FOR ENTRY(surely everyone does). I use any timeframe up to 60 min and refer to day chart as well.

 

[oildaytrader]

ODT you asked how I trade in a way that implies you disaprove. Let me assure you there are many ways to skin a cat.

Julian

I don't disapprove of the way you trade,I am struggling on small stops and tps, I simply do not have your trading style and instincts to play the within the random zone.I wish I could trade the way you do.Small stops and take profits has not been my style, but I would like change to it.

The first trade I picked today was on the hourlies, later on I got caught on the noise/**** in the wind on 1 minute charts .I will try trading 5 minute and hourlies over the next few days. again with wider stops and t/ps.

Here were today's mechanical signals which are fully automated.They work O K.

 

[oildaytrader]

Julian

How do your system of small stops and trend lines work on more volatile instruments like oil or stocks like Google or cable?

I have a suspicion stops may get hit frequently on more volatile instruments.

 

[leovirgo]

fisnished.
Not a great day but not bad. (cant be arsed to post another screenshot but up about $280)

However, often I have bad days when it seem like the majority of the guys on here have done really well.

I guess that we all have down and up days.

 

[leovirgo]

The week started with an easy Monday. Today was difficult as the markets (GU,EU) pulled back and I was trying to call high of the day for them but they kept creeping higher and higher.

Coming up this week
We have BOE, ECB for rates and forever-catalyst-for-market-mover NFP.

For me

GU is still SELL below 1.6100 simple break out level , also weekly pivot.
EU is still SELL below 1.3940.
UJ is on border line on 90.40.
EG is SELL below .8720.
GJ is SELL below 144.50

 

[Lord Flasheart]

You are right there would be more stops hit on cable, I dont trade google or oil yet.My shorter trades are generally on eur/usd as spread is only 1 pip and not as volatile. I generally only trade cable on longer term trend breaks.

The attached chart will show what I mean,look at all 6 points along the same simple line.
If Id taken them all they all would have given me a good start and a chance to take off 1/2 after 8-10 pips. If one of them gives me 40 drop then thats me quids in for the day.Its very simple as long as your eye picks the lines early. I dont post all of my trades as I dont like posting late when they have gone in my favour. I will try and post more.I had 3 of these today and got 1/2 off after 10. When it goes wrong it looks like your mad and trying to catch a falling knife, but the risks are small,often 7 pips.

 

[oildaytrader]

Julian

Methods that work only on some instruments , may become redundant , if instrument behaviour changes e.g volatility increases .I normally try and test my methods/systems on different instruments before using them, if they work on most instruments , I will use them.

I don't know how this will affect you , if at all it will affect your method in anyway.Just my 2 cents.

O D T

 

[leovirgo]

good morning, I am on the sideline. markets are pulling back into no-trade-area.

 

[be-positive]

goodmorning all

 

[temporarilylight]

small short 1.6033

 

[Lord Flasheart]

Morning all, need to cath a big one today. Could be a big break down on the euro

 

[Lord Flasheart]

short euro 1.3991 s/l 96. Top of t/l

 

[Lord Flasheart]

stopped out -6 no damage done

 

[oildaytrader]

Here is my style

Buy stop euro /usd @1.4020 , stop 45 pips ,exit if momentum dies

 

[oildaytrader]

Cable buy stop 1.6099 ,stop 45 , exit if momentum dies