Best Thread GBP/USD 5min setups
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leovirgo
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Hi LV, good to see you, thanks for popping in, good luck with the swinger
just got out 1.5780, entry 1.5695
just got out 1.5780, entry 1.5695
Very nice indeed
...you prefer the all in/out approach? I do the same sometimes on smaller moves, but i usually scale out.
leovirgo
Senior member
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Very nice indeed
Yes, all in all out is easier to manage. Scaling out is theoretically superior (to me) but I can't use it consistently and always end up with one position approach.
...stops now @ 3445.
trendie
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hi CC,
Hope I'm not interrupting the flow of your excellent journal, but I wanted to get a handle on your style.
Is it based on breakouts of the London opening range, with some extra elements thrown in?
Obviously, I don't expect you to disclose anything that is proprietary or confidential.
thanks
edit: how many charts do you look at?
do you have daily targets? (or daily max losses)
Hope I'm not interrupting the flow of your excellent journal, but I wanted to get a handle on your style.
Is it based on breakouts of the London opening range, with some extra elements thrown in?
Obviously, I don't expect you to disclose anything that is proprietary or confidential.
thanks
edit: how many charts do you look at?
do you have daily targets? (or daily max losses)
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hi CC,
Hope I'm not interrupting the flow of your excellent journal, but I wanted to get a handle on your style.
Is it based on breakouts of the London opening range, with some extra elements thrown in?
Obviously, I don't expect you to disclose anything that is proprietary or confidential.
thanks
edit: how many charts do you look at?
do you have daily targets? (or daily max losses)
Hi Trendie, hope you received the PM the other day. I'll answer this post fully later on when i'm flat. Cheers.
EU stops now b/e +1. (3454).
...if there's a breakdown (5min) below 35, i'll cut my losses.
35 tested but not broken and onto next leg up...
Attachments
GU - flat now, -0.45% - wk -0.45%.
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EU - +0.62% now locked in, with stops currently @ 3468.
hi CC,
Hope I'm not interrupting the flow of your excellent journal, but I wanted to get a handle on your style.
Is it based on breakouts of the London opening range, with some extra elements thrown in?
Obviously, I don't expect you to disclose anything that is proprietary or confidential.
thanks
edit: how many charts do you look at?
do you have daily targets? (or daily max losses)
Trendie, i trade GU & EU. I used to try and trade many more pairs but i'm finding less is more!
I don't use fixed daily targets but the risk is tightly controlled. A typical day (London and US sessions) will have 2-3 trades per pair.
I arrive at the office after London open usually, around 08:30. I like to get a 'feel' for price action and direction for a while and note the major news times for both sessions. I use metatrader for analysis and have a few squiggles on those charts for decision support and use Oanda for execution. I'll look for the range price is moving within and assess whether a breakout or fib setup fits the risk/reward profile and then its sitting on hands time watching PA for continuation/reversal patterns around the levels noted. SLs are sometimes fixed, but more often around previous s/r. Targets are usually fib extensions.
The 1000's of hours of screen time since 2003 certainly helps. As you know, you develop a strong feel for the way price moves and how patterns print on the chart, over time it's as if you've developed a 'knowing' without knowing what it is you know, that's how it is for me.
Hope your trading is going well
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