Best Thread Live Trading and General Chat Lounge

D.Gilberto said:
Short GBPAUD:

Entry:1.49806
SL: 1.50309


Putting money where mouth is.
Click to expand...


Have a take half profits at +29.4 (not yet hit but close) and rest for b/e for 100% TP of: +58.8 (ish)


(and @ Jungles, the J16 Manager is very good tbh. Using it live on this won after playing around all day/night and morning. Very accurate and even has a slippage option!)
 
your trades looking good,your target seems small for a swing trade but your entry implies a longer target. I like the confidence in which you called it,even if it does go wrong which I hope it doesnt. confidence is so important as it maintains your beliefs
 
i could have entered gpb/aud for my reasons. id prefer the pullback to be below the last high,but could have entered along with you,two different methods showing same trade. I didnt spot it until now though:sleep:
 
Lord Flasheart said:
your trades looking good,your target seems small for a swing trade but your entry implies a longer target. I like the confidence in which you called it,even if it does go wrong which I hope it doesnt. confidence is so important as it maintains your beliefs
Click to expand...

In all honesty, I wouldn't know what a swing trade is or isn't.

I like to view all my open positions as 0 risk 0 reward. That way, why would I be annoyed if the trade moves against me but hasn't hit my stop.... Likewise, what gives me the right to be happy about being in "profit" if I haven't taken any... You wouldn't be worried sick looking at your bank balance on-line?... Difference is, if you withdraw money or put it in that effects it and how you feel.... Just how I guess I look at all my trades, or at least try by re-reading rules.


And completely agree with your comment above too! You`ll never find me again writing on here out of anger because a trade didn't work or I lost money on one. I strongly believe this is crucial to the longevity of trading successfully.


Anyway! :) I talk too much lol.
 
Guys,
I see just a few sensible people write here, so rather than start of the usual bs that such a question would get elsewhere, just wonder a couple of things. I will tell you a bit about myself first so you may be inclined to answer.

I used to trade for myself in 1994-1997, mostly index futures and strategies. I had other business at the same time but got more and more into it. I did mostly simple moving average crossovers and a lot of feel trades (seriously), also a lot of next month index option writing, combined with futures. Went from $50k to over $2.4m and then in Oct '97 dropped $500k, so took my money off fast and put in other business's.

Now I come back and now of course there are many forums, a lot of crap and weird people. I see you guys are insightful and helpful so wished to ask a couple of questions.

1. Is it mostly or only FX you trade
2. What are good platforms to trade on
3. What other software do you use
4. Do you trade full-time
5. How much % do you aim for per year
6. Any other good resources you would recommend

Appreciate any pointers and assistance and hopefully I can contribute along my way too.
I am genuine and sell nothing and just eager to catch up. I also realise my style of trading before was appropriate for that time and may not translate 15 years on so well and wish to arm myself and be open to other thoughts.
Many thanks
 
Tanka said:
Now I come back and now of course there are many forums, a lot of crap and weird people. I see you guys are insightful and helpful so wished to ask a couple of questions.

1. Is it mostly or only FX you trade
2. What are good platforms to trade on
3. What other software do you use
4. Do you trade full-time
5. How much % do you aim for per year
6. Any other good resources you would recommend
Click to expand...


Fascinating story if that's true. Forgive my scepticism, its not that I dont believe your background, its just common to hear. Even more amazing that you `felt` your way to fortune lol.

Anyway, happy to help with regards to questions?

1) On here mainly FX calls, cannot speak for everyone else and what they all actually trade?
2) Personal preference is MetaTrader 4 and brokers who offer it as a platform, provide you it free of charge. (or use brokers in house platform/charts, depending on what you`re trading... )
3)I personally do not use any other software other than prorealtime.com for indices...
4) Yes
5) 10,000%.... (just being cheeky! What ever the market gives me. Typically aim for 10-15% a month - But then again, I have not been trading long enough to rationalize any proper expectations as of now)
6)In relation to what exactly? Bit confused how it is you`re wanting to "learn" as if you`re new to this when you`ve been very successful in the past?


Anyway, they`re my answers, not reflective of others of course. Hope that helps in anyway :)
 
Thank you Gilberto,
Yes it's true. At the time I had an excellent income from other sources, so did not need the money, obviously mm was not within most acceptable parameters. Traded an awful lot of ftse futures (one day 10% of a quiet market) and my wife knew not to book holidays during the 3rd friday of the month.
When I built up to enough capital used to pick up 10-20k a month writing out of money index options, hence the 500k loss Oct '97.
At the time I made more from other business so it was relative. As for feel, I would stare at the numbers for hours and hours and eventually say, 'ok that's what they mean'. Then when the trade was on I would have to sit on my hands for hours and days and one time weeks to let it run. (best trade was too big for my account as a % but it went well at first and then next day until nearly 3 weeks and after a 10% pull back in profit I was out and had $370k. It was a fight from 80k not to take it.

6. I meant forums, magazines, articles or ideas you would share.

I was not just lucky but I did it in a way you could not explain so well and I also know that with the kind of markets today that I need a tighter mm approach and also hope to plan around a 'regular' income from this in the future.

Thanks again.
 
Tanka said:
Guys,
I see just a few sensible people write here, so rather than start of the usual bs that such a question would get elsewhere, just wonder a couple of things. I will tell you a bit about myself first so you may be inclined to answer.

I used to trade for myself in 1994-1997, mostly index futures and strategies. I had other business at the same time but got more and more into it. I did mostly simple moving average crossovers and a lot of feel trades (seriously), also a lot of next month index option writing, combined with futures. Went from $50k to over $2.4m and then in Oct '97 dropped $500k, so took my money off fast and put in other business's.

Now I come back and now of course there are many forums, a lot of crap and weird people. I see you guys are insightful and helpful so wished to ask a couple of questions.

1. Is it mostly or only FX you trade
2. What are good platforms to trade on
3. What other software do you use
4. Do you trade full-time
5. How much % do you aim for per year
6. Any other good resources you would recommend

Appreciate any pointers and assistance and hopefully I can contribute along my way too.
I am genuine and sell nothing and just eager to catch up. I also realise my style of trading before was appropriate for that time and may not translate 15 years on so well and wish to arm myself and be open to other thoughts.
Many thanks
Click to expand...

mainly FX on here
I use mt4 but have used esignal which is good but about $100 a month. Best packages is cqg at about $800 a month
I trade full time,my methods are explained in more detail at the start of this thread
% gain hard to quantify as i never have too much in the account for obvious reasons but would be in dreamland to take $50k to 2.4 mil
this site forexfactory and babypips are about all you need,the rest is in your mind
Good luck
 
Thanks very much Flasheart,
As I said my mm was poor but it was extra funds so had a freedom with it. I looked back a few times and thought I was mad, lucky and at times really good. I also think not having worries around the money and it not being your only income give a lot of freedom and clarity in decisions.
I am looking forward to round 2 and have started already and when I read some of the sensible posts here I realise how much I don't know. What keeps me going are some of the trading books where they mention pit bond traders who know very little about economics and other influences but have such a feel from standing in the pit and that it's all they need.
My excuse till I get more technical.
Thanks again and gl.
 
From your pc world story I see your in the UK. I am in Ireland, just wonder any recommendations on brokers?
Thanks
 
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