nickerson334
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I'm buying euro back at 750 for another spin
Edit (bought at 755 first time and stopped at 726 in the end. Wish I'd shorted down now as in retropsect it behaved like a double top!)
+back in GBP at 694 out at 664 and 800
Edit (bought at 755 first time and stopped at 726 in the end. Wish I'd shorted down now as in retropsect it behaved like a double top!)
+back in GBP at 694 out at 664 and 800
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nickerson334
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Hey, dude you'd have been crazy not to stop out! It's broken up through the short term downtrend so I'm in at 694.
Also usdcad looks like a breakdown. I'm short at 1.3290 t
Also usdcad looks like a breakdown. I'm short at 1.3290 t
nickerson334
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GBP 1.8800
CAD i'm looking for 150 ticks. I'lll be stopped out soon though probably at 1.3305 and see what's happening. May be forming a double top or a flag to take it up further.
CAD i'm looking for 150 ticks. I'lll be stopped out soon though probably at 1.3305 and see what's happening. May be forming a double top or a flag to take it up further.
nickerson334
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That euro/$ looks about as appetizing as a **** sandwich!
Buying at 733 if it turns back.
Buying at 733 if it turns back.
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nickerson334
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Shorted cad again at 1.3310.
Score for the week so far is
GBP +121
EUR -46
CAD -15
+8.8%
How are you guys doing?
Score for the week so far is
GBP +121
EUR -46
CAD -15
+8.8%
How are you guys doing?
nickerson334
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Looks o.k. My rational is
1: overall uptrend
2: Break in short term downtrend: target 730
3: Inverse Head & Shoulders (Head at 640 / Shoulder base 730) break up to (730 +90) 820. Call it 800 to be safe.
4:Stop at top of 664 Shoulder
5: MACD up
6: above 50 day EMA
7: 3:1 PL Ratio
Have moved my stop to 685 just under current short term uptrend.
1: overall uptrend
2: Break in short term downtrend: target 730
3: Inverse Head & Shoulders (Head at 640 / Shoulder base 730) break up to (730 +90) 820. Call it 800 to be safe.
4:Stop at top of 664 Shoulder
5: MACD up
6: above 50 day EMA
7: 3:1 PL Ratio
Have moved my stop to 685 just under current short term uptrend.
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all makes sense nick, looks like inverse head and shoulders. Only traded the forex today and am on 0 at the moment. But holding long for now. When is target 1.8800 likely to be reached? Im assuming some time early tmro. Judging by the length of the shoulder and head so far.
nickerson334
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Don't know, sometime tommorrow (if it goes!) I think.
It just meets my own personal criteria for a trade so I'm not really bothered if it goes or not, or when it goes.
I like to get in early (too early sometimes!) but I'm happy with my research that I'm right enough of the time to make a profit.
Don't take my advice as were probably working different money management and p:l ratio schemes. + I'm wrong half the time!
It just meets my own personal criteria for a trade so I'm not really bothered if it goes or not, or when it goes.
I like to get in early (too early sometimes!) but I'm happy with my research that I'm right enough of the time to make a profit.
Don't take my advice as were probably working different money management and p:l ratio schemes. + I'm wrong half the time!
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Im only aiming for 50 pips. Then see where to go after that. Im still focusing on the dow so don't wanna spend too much time, and tie up too much capital on the forex, at the moment the dow isn't going anywhere but looks to drop tmro, wanna keep capital for that.
nickerson334
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Yeah, it takes time to get to know a market as well I think. (or try to get to know it in my case!)
Hammer, getting to know a market is like making love to a beautiful woman................. First you have to feel for her sensitive places, then watch as she gently moves up and down, rhythmicaly before your eyes........ then plunge in your hard cash......both of you climbing higher and higher.......don't pull out to soon.........!
I can't go on. can you finish for me?!!!!!!
Hammer, getting to know a market is like making love to a beautiful woman................. First you have to feel for her sensitive places, then watch as she gently moves up and down, rhythmicaly before your eyes........ then plunge in your hard cash......both of you climbing higher and higher.......don't pull out to soon.........!
I can't go on. can you finish for me?!!!!!!
nickerson334
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Euro's breaking the downtrend at 725, think it's heading back to 790 now.
nickerson334
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You're a very wise man Hammer!
I've bought the Euro, possibly a bit too soon, much higher though and I think it's definitly a buy.
Must switch off soon. Swim , sauna, drink!
I've bought the Euro, possibly a bit too soon, much higher though and I think it's definitly a buy.
Must switch off soon. Swim , sauna, drink!
I've recently begun to research the pros and cons of trading the FX market but have some reservations owing to the fact I am unable to day trade. Could anyone provide a strategy or some pointers as to how i could swing/position trade the GBP/USD and give an indication as to the level of stops which could/should be used during a time scale beyond 1 day.
Thx in advance.
Mick
Thx in advance.
Mick
