Learning tape reading

hence why (IMO) it is best to:
not follow system based rules
not have a bias
trade discretionary using internals
scalp bigger moves like 1 point on ES rather than 1 tick
know a market very well so that you know from experience what is likely to happen and when things are weird.

fixed :)
 
hmmm just a thought cable looks like a possible short.
Heheh got my swing trading strategy made and it works pretty well :) - btw that set up isnt from my system ....
 

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im thinking about opening a Sbing account because i really need to start building up funds betting dailies on forex...... going by demo im on 400-500 pips a week at about 3 trades a week on the dailies.

I don't know what it is but i just can't focus on time and sales whenever i know what im looking at is free, it doesnt feel like im comitting myself enough.

I think that once i build up funds i can afford to access proper charting and tools - i don't even have access to internals that are necessary for discretionary trading on YM etc (imo)
Plus i know that im really good at this daily price action ish stuff , betting 20p a point aiming for 100 pips ish a trade i can build up over a year or two.

I will be posting updates as i see fit
 
This is the smartest thing I think you have said (and something I suggested a while back.) How much will you start with?
 
£100 around that.im starting at 10p a point and adding 5p to the stake for every £200 i make...
The thing is i actually know i can pull it off, maybe not quite like dante 40 to 1600 in a few trades but let's not forget he was betting £1-2 a point from the word go and ill be betting 10 times less than that.

Also it's a way for me to prove to my parents i know how to trade ...or rather bet....
It'll probably be around xmas when i get it so until then im going to have to demo to prove them again. started today with 3k account and +110 in 2 hours :)
 
Forget Dante, it's about longevity. Sure, he went from £40 to £1600 pretty quick, but what happened next? I don't know what your strategy will be, but if you are even capable of making any profit on a basis where you're not wildly punting you'll have a good starting block in trading.
 
Cool. Im no Dante, but I took £300 to over 3k.
I've got a journal on here somewhere which documents part of the experience.
Good luck
 
i wont be making a journal, im afraid of getting sued for undersge gambling or something :(

yeh will check that out candles...but i will post the setups...

edit: wow candles that's impressive :)
 
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okay going to keep this simple anyway. Nothing too complex. inside bar false breakout trades, DBHLC DBLHC and pins all off major fibo levels and support and resistance.

Don't forget though that my main goal is to trade YM via time and sales :)

gotta go now
 
i think it's fair to say i made a decent call :)
 

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yeh shorted this ...


wow just realised that pin is off the major major fibo level of the huge recent drop in this pair...more confluence

plus the daily, H4 and 1H charts all have a pin formed or forming...
 

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hmmm was doing okay but threw a lot of it away trying to scalp some trades, and an accident in terms of phat finger lead to 10x the loss i intended to on a trade that amounted to a 151 loss. still holding onto 2 VERY promising trades that could take anywhere from a day to a week.
 

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