JTs realtime trades

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JonnyT

Senior member
Hi,

Over the next few days I'm going to trade the British Pound vs US Dollar and post the trades live here.

I'm basically going to be looking only for one or two trades a day from a 5 minute chart using a simple BO strategy.

Normally I'd be using the realtime chart from www.fxcm.com but it's down :cry:

So I'm stuck with Deal4Frees offering. I'm trading via Deal4Free as the cash price spread is comparable to most FX company offerings.

JonnyT
 

JonnyT

Senior member
Hi Paul,

I can use IBs feed, but the Pound/Dollar future is thinly traded so the chart is awful.

JonnyT
 

al-motor

Well-known member
Johnny,

As far as the charts go, are u relying on the charts from D4f or fxcm ? problem with me is , i am trying to chart the cable as well as the Eur/usd and also watching couple of time frames- which does not seem possible with these ......
 

JonnyT

Senior member
More than 1 timeframe is possible with both FXCM and Deal4Free. Just undock the charts. Theres little buttons on the top pane to do just that.

You can then create another chart and undock that if you want.

PS whats the cable?

JonnyT
 

darrenf

Well-known member
JT

Can I ask why you closed the trade at 1.5898?

At this point in time it looks like a good move as it's back up to 1.5918 offer. However, the reason I ask is you said you were looking to catch the main move of the day which I would have thought would be over at least an hour or so judging from your previous posts on the subject.

Did something change your mind?

I am not challenging your decision, I'm just curious to find out why

Cheers

Darren
 

JonnyT

Senior member
Hi Darren,

It gave 20 points in only 6 minutes. I took them and am seeking re-entry etc. It has been ususally flat for the past two hours.

It could have gone either way of course and you are right I am looking for that 50 point plus trade but this was easy quick money and I pulled the trigger rather luckilly.

JonnyT
 

JonnyT

Senior member
Oh I forgot to mention I missed my entry by 7 points. Caught napping. Should have been long at 1.5896. Could be costly.

JonnyT
 

JonnyT

Senior member
Closed at 1.5920 for +17

37 points for the day. The last trade has been closed way too early in hindsight.

Not bad though £370 tax free

JonnyT
 

JonnyT

Senior member
Yes two slips on this trade, the entry 7 points late and then not keeping in with the momentum cost me an opportunity for 20+ points more.

My target is 20 points per day. Thats easilly enough to make a £200,000 per annum living (trading more contracts), so taken in context I should not be dismayed.

JonnyT
 

darrenf

Well-known member
JT

Nice triangle forming on the 5 min chart at the moment. Looks set to break very soon.

Hopefully to the upside as I am long from 1.5906 as of yesterday evening. My trades are on a much longer timescale though, so I am targeting much larger pip movements.

Interesting to hear how you are getting on.

What method are you using for stops?

Cheers

Darren
 

darrenf

Well-known member
Broken to the downside whilst typing my last post!!!

I must stop looking at the short term charts whilst holding a longer term poistion. It's driving me mad!!!!
 

darrenf

Well-known member
Thanks for the reply JT.

It's good to see the forex board becoming a lot more active in recent months.

I was starting to think I was the only one interested in fx trading.

Looking forward to more ineresting threads/ discussions on FX.
 

JonnyT

Senior member
Hi Darren,

I cannot beleive it.

Deal4Free froze on me and I missed a 39 point move down from 1.5920 to 1.5881

That would have been the icing on the cake.

JonnyT
 
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