Forex trading live calls and set ups

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

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  • Poll closed .
bedsit said:
No trading for me today - I'm going to The World Moneyshow at Queen Elizabeth Conference Centre - close to the Westminster tube station (today and tomorrow). There are few people I'd like to meet: Tom Hougaard (one of the most famous traders in the UK), Sandy Jadeja (chief technical analyst at Citi Index and CNBC), Russ Mould (from Shares) and some other interesting characters.

I've registered some time ago. I'm not sure if one needs to register to get in.

Have a nice weekend.
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do not be fooled by the so called famous traders.There is a lot I could say but that is not really for this thread. oh why not. tom Hougard has endorsed every product and trader going for his own benefit,also recommends brokers for his own benefit,even writes books for £500. I have a lot more respect for sandy Jadeja,talks more sense. Old mas methods would have paid a huge dividend today. Looks like its been a tough day.
 
If anyone cares about fundies.... Ireland is in talks with the EU about receiving emergency funding. Thats why the euro pairs have been beaten down with a stick.

Peter
 
Lord Flasheart said:
your normally get out if it goes 10 ticks against you and your targets are never that many pips,why the change
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Erh no, I dont have fixed stops, -10 is an area I exit when I know its a bad trade, however when my set up tells me its still valid, I will hold, held one the other for -22 before coming good. When I know its wrong I'll get out pronto, like you said the other day, gotta trust the system, if it says hold, then I do.
 
Tough to get any reliable entries now. The news about Ireland has traders getting whipsawed up the ***se. Starting to settle a bit though.

Peter
 
looking like the 1.3700 are might hold as support. Consider going long around these levels. I'm going to take 1/2 positions for now to keep risk lower.

Peter
 
im not a happy bunny today. old mas method has lost 17 pips in live calls this week. i am pleased with that considering i had two really bad days. However today would have been a different story. As i am generally looking for a confirmed reversal,the early falls would have given me great entries which would have resulted in 150 pips if i had only gone to 2:1 r/r. The results are as follows

3 weeks
30 live calls
150 pips profit

a lot of work for 50 pips a week,some get that every day

hit rate of 33%....was as high as 60%. If it balances out at 40 %, Ill be very happy
 
chart 1m
 

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general question guys. What colours are best to have for your charts with regards to your eyes.Is it a matter of choice or is there anything scientific i need to know,thanks
 
Lord Flasheart said:
general question guys. What colours are best to have for your charts with regards to your eyes.Is it a matter of choice or is there anything scientific i need to know,thanks
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I have 2 monitors. Left side is my platform with black background, right side is this forum or other sites as needed with white background. When things are happening fast the contrast in backgrounds helps me.

Peter
 
Cable_Loonie said:
hi, just wanted to say as a constant lurker this thread is brilliant.

shows the kind of metal needed to trade real money on the roller coaster
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im sure theres good entertainement value along the way,when we bicker.Are you picking anything up,what do you like about the thread.Im sure we would all like to hear an independent view,be as frank as you like,thanks
 
wackypete2 said:
Swannie:
I'd like to echo some of what Flash said. Bear with me here...You've made more pips in a week than most, congrats, my hat's off to you, you clearly have something to offer here if that's your choice. The probem being how you are conveying it. For most people reading your last post could be translated as: "I've made 300 pips while you guys were on the other side. Just pennies though as I dont need them anymore and I don't want you guys to feel bad."

There certainly is no obligation to post live trades, reveal strategies, or explain the rational for any trades so I'm not going to suggest you do that. But just posting how much you made today doesn't offer much here. I'm the last person to want to discourage anyone from posting trades, setups, or just thoughts on what is happening in the markets.

Feel free to kick me, insult me, or whatever if you wish, but note I have not done so here and have no intention of doing so. Plenty of other threads on t2w with that garbage... I'm just asking you to consider how your posts are being perceived and whether or not you feel you are contributing anything here.

Thanks for reading,

Peter
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Heh Pete,

I've got 15/20 mins before my youngest lad's footy match so thought I'd catch up with this; the pip count on the small TFs is irrelevant to me when I'm swinging 6 pairs and crude. It's now become a distraction. Let me give you an example following my strat; I should have been short on the Euro from approx. 10:30 on the 5th and only reversed yesterday, that should have been a calm/rational 450-500 pip move as was my previous 220 pip long from the 2nd Nov.

My only method of eliminating it (small TF trading) as a distraction and making it work for me is to put all my trading onto a commercial basis and create a few jobs in the N-West for young guys to trade my methods on various time-frames. We all surely have visions/objectives of where we want to go with our trading, for me sitting in front of a screen for 3/4 hours at a time is tedious, consequently I've been on a mission to create jobs and a niche/boutique trading company that I can then exit for a healthy profit.

I thought I'd explained previously that I don't like the emotion of being the other side of trades to guys on this thread, I am v.competitive and despite the fact you're all strangers (and will remain that way) it's not a pleasant feeling to think "I'm right you're wrong", or "I'm wrong you're right"..Similarly if you're in profit on a small TF trade, but your swing is at a loss, the paradox can leave you emotionally nuetral. Sure you could rationalise it by saying "but it's pips you wouldnt have had" well I could take on board another swing pair if I just wanted more pips couldn't I? Bottom line I can consistently make pips on whatever TF I want to play off, but you can only play one round of golf at a time...

Also, who am I to openly criticise or advise anyone else on their methods, none of my business, but there are times when my swing alerts have flagged to go one direction and guys on this thread have immediately gone the other way on small TF trades and I'm open mouthed tbh..but heh, you never know 'til you bet..

You mention "revealing" strategy/methods, not sure what's meant by that, or if other folk have recenlty done that on this thread, on the small TFs I look for; repeating patterns, S&R, pivots, big round numbers, time of day v volume -price-action..

TBH I'd rather look at a graphic of where the trade was taken, why, and the result, I fail to see what anyone can learn from folk simply calling out trades unless someone wants to shadow them (bearing in mind they'll be stale by the time you enter). But heh, carry on, enjoy the company, if it (this thread) *works* for you then I'm pleased for you. :)
 
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