EU - +0.62% now locked in, with stops currently @ 3468.
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
EU - long 3422, initial stops 3394, will be taking some off quickly @3429, tgts then open up to 3450 and 3480..
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both eu and cable seem to move with DOW/FT.
short at 15822, today's res. is at 15780
short at 15822, today's res. is at 15780
...where's your stop on this one? 20 adrift now?
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normally 50.
1st scaleout filled...
2nd scaleout filled @ 3450 and stops to b/e. Free ride now can do what it likes.
..filled. +1.38%, wk: +1.55%.
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now that is what i was waiting for.
now at 157.30
now at 157.30
...yup, a member of the MPC saying the UK's screwed for the next 10 years has got to be worth a few 1000 pips
Edit: softened by Sentance
"Inflation not where we would like it to be"
"Need to create impression of return to normality"
"More QE would give wrong impression on economy"
"No need to restart QE"
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back up again,
shorted euro at 13545
shorted euro at 13545
