Forex trading live calls and set ups

I am thinking of closing this thread (Beachtrader voted a No)

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Looks like ive missed some fun today, didnt see many of my sort of trades. A line staright down doesnt show up many trends or patterns
 
Would you believe I've done 30 trades today on GU alone. Crazy stuff but really enjoyed it. I've been long and short catching a falling knife and reversing sometimes at a loss. Im in the green but need to brush up on my skills. Time to start looking at longer timeframes although I'm sure most days are not like. I actually rarely trade at all on Friday. Prefer the sedate action at night usually...It means that I haven't slept for 2 days :) im still in a trade now GU long 1.5020 with a big stop set at 15033 I may just let it run down to our next support at 1.4979. I'd be a good scalper me thinks can watch a screen without flinching for hours on end.
 
Mr Flibble said:
Would you believe I've done 30 trades today on GU alone. Crazy stuff but really enjoyed it. I've been long and short catching a falling knife and reversing sometimes at a loss. Im in the green but need to brush up on my skills. Time to start looking at longer timeframes although I'm sure most days are not like. I actually rarely trade at all on Friday. Prefer the sedate action at night usually...It means that I haven't slept for 2 days :) im still in a trade now GU long 1.5020 with a big stop set at 15033 I may just let it run down to our next support at 1.4979. I'd be a good scalper me thinks can watch a screen without flinching for hours on end.
Click to expand...

I assume by your uncertainty that you are using a demo account is that right.
Id like to be your broker with 30 trades a day. When I started trading it was $9 a round turn and before that £25 for one futures contract
 
julian said:
I assume by your uncertainty that you are using a demo account is that right.
Id like to be your broker with 30 trades a day. When I started trading it was $9 a round turn and before that £25 for one futures contract
Click to expand...

I've done 30+ over a 24hr period spread across 9 pairs off 15-30min TFs before today, it was no great sweat tbh. However, on direct comparisons vis a vis longer TFs, the extra pip count was irrelevant when factoring in the extra spread costs, time/motion study. I've averaged 3 trades per pair this week...
 
I got about GU 5, EU 3,UJ 3 trades. total 11 trades for the whole week. Nicely ahead with less stress.

It's important to stand aside if there is no entry set up, even if the market is moving in the direction that you are waiting for.

Only 1 out of 3 scenarios is worth getting into a trade

1. Looking to go Long - move down - stand aside
2. Looking to go Long - move up - with entry set up - get in
3. Looking to go Long - move up - without entry set up - stand aside

Reverse for short entry.

This has improved the quality of my book. There were times when I sticked to a level and tried to be "in" above/below that level, it was great when markets obliged but if not, it was very costly in terms of pips and mental capital.
 
julian said:
ok but he said 30 trades on the GU alone,got to be tape reading to do that many.
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30 trades, on that one pair (cable), from 8am 'till 4pm (using SB as your route to market) is fookin madness IMO...I can only see 8, (possibly 9), off the 5min TF on Friday...
 
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Message for Thinkman

Thought I'd post this message to share rather than PM it; you say you trade with IG, if that's still the case then please check out their Autochartist tool which is free on your pure deal platform. Although I'm mainly DMA nowadays, trading off metatrader, I really rate the Pro Real time package you get free with IG and have it on constantly ...

The autochartist will alert you to completed and emerging patterns, now these patterns can be very useful if being used to support/underpin another more indicator based strat. or if used in isolation it is (IMHO) a brilliant tool and will give you a great intro. as to why price does what and the emerging price action patterns you need to look out for. It may also (possibly) support the reasons why x,y,z, trader who post on this thread took a trade...

The only downside for me is that despite a couple of calls to IG I can't (they can't) find a way for it to alert only on the pairs I trade and ignore all the other pairs, but it's still a great bit of kit for your personal trading toolbox.. you'll get; wedges, channels, triangles, pennants, (flags)...give it a go..well worth it..

** forgot to mention, also shows emerging and completed fibonacci patterns; abcd, 3 pt...top stuff..
 
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julian said:
sounds good. could be a good back up for the naked eye
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but then again who needes software,heres todays first pattern
 

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EU looks to test 1.3500 for third time in two days, fifth time on daily chart since Feb.
 
leovirgo said:
EU covered. +36. TP is 1.3470 but this is good for me.
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Nice one leo,good start to week.
Im off out again soon,would have had a few point if id been here on wedge I posted
Im still waiting to hear hoe Mr fibble made 30 trades on friday
BP no trades for you yet
 
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