My GBP/USD is moving well- 11-1-08 @ 1.6100 / /11-6-08 @ 1.5600 I hope for additional escape to 1.53's by Fri close. Not as quickly or as historical as I thought-but nevertheless in the pips.
My GBP/USD is moving well- 11-1-08 @ 1.6100 / /11-6-08 @ 1.5600 I hope for additional escape to 1.53's by Fri close. Not as quickly or as historical as I thought-but nevertheless in the pips.
Very instructive topic especially for beginners Such as me..and for professional trader to share your experience with others
Well thank u ! My 3 pairs eur/usd gbp/usd audusd all showed weakness at the conclusion of last week within this week. They havnt sunk as far or as fast as I would have enjoyed but not awful. I'm closing all trades (Unemployment #s are expected out and which has to be bad for dollar) I will post prediction for nxt week before monday(a little harder call?) Eur/usd = 200 Gbp/Usd = 300 Aud/Usd = 100 pips for this particular week. I am thinking about dropping the NZD/USD AUD/USD. I'm also thinking of starting another thread which requires a mini account w/100. Dollar equilibrium and harvests its profits daily.This is exactly what I have been performing for the last couple months anyhow (market scared me from trading my typical account). I might work on this idea over weekend. Fantastic luck and be safe!
Hi 8 Fingers! The grim reaper outfit is a little creapy. LOl. For me personally from the four you prefer to exchange Euro, GBP, Aus, Nzd my #1 is the EUR. It trades smoother compared to GBP and is not as eratic. I will trade the GBP also, just not at the identical time as Euro. Only if the causes are on different days, one or two days apart, but at precisely the same direction. Do trade the Aud or even Nzd. As for the JPY pairs that you had mentioned I like the Eur/Jpy. It is smoother than the GBP/JPY. .You had mentioned that when all pairs trigger a trade, at precisely the same time, indiing a solid trend I prefer to choose one (EURO) than most four... You favor getting in on the hourly period frame. I'd think this would give you a much smaller stop, which can be geat, but is the cause reliable?? Are there maybe not lots of fictitious market noise moves?That's the query. You did mention you are great for 100 pips consistently, but what's your fundamental stop? We should speak on email if you prefer.Originally Posted by ;
8 Fingers. Since I have been trading daily candles my consistency has turned around. The only problem I have with it is that when I'm wrong I get burned pretty badly because my stops are rather large. I have noticed you prefer to time your entry on the hourly rate as do other (self proclaimed successful traders do). How are you timing your entry to the hourly rate?Originally Posted by ;
Fxeagle u r right-there is alot of this happening here. What I really do is place trade off 5 minute mostly(all the way down from daily) but watch the Hourlies mostley becuase it filters sound much better than lower time frames. I also lose (less than previously ). I've not ever had margin call on my primary account(yet)-but have reimbursed my miniature 4-5 times in this past year. I take my Session clues from near of Dailies and dont move till I see an entry( I favor Support and Resistance Breaks(or even Rejections). This means price is close to its turning point(usually) and also my Stops (wich I dont put till in profit) are usually less than 100 pips (on hourlies). I really do white knuckle it only after I place a trade(it always seems to go against me a sum of pips) until I put a protective stop. Thats when I unwind and chk out other pairs. Last week I just traded EUR GBP AUD ( and bailed on Aud as it wasn't working ) never even played the Nzd. It was also my 1st set of trades on my primary account since I had pulled nearly all funds 2 months ago when things seemed bleak. (wont ever expect cash in Broker accounts). I'll be dropping the Aud and Nzd as my trusty 4 and just trade Eur Gbp as my account balance isnt secure w/4 pairs. There are only 2 types of Forex Traders- Depositors Withdrawlers (I was a die-hard Depositor for 2 years in 1st). I traded 2 years w/o a withdrawl. I understand pain! My forecast for last week wasnt so bad - this week will be more difficult as there's a deficiency of US news till weeks end. Perhaps a range Trading week is order? I still see additional weakness in EURO POUND in short term(nxt week) and will be looking to Short these pairs(again) except w/o that the enthusiasim of past week. I'll post Chart (and progression of Charts) that result in my trade entries and then I encourage all to comment as this just helps me trade much better. I would like to say that I am a very conservative trader,wich means I wait to get the duck(the perfect setup ) and miss lots of trading opportunities. I dont trade the news just its aftermath. I try to not have open trades that get a negative swap in session close. I dont carry trades on weekends(actually ). I really do withdrawal profits as soon as they are realized. Good luck to all and be safe! The Grim Reaper pic was loaded with my 9 yr old son ( is that how he sees me) lol
There was continuing weakness in Euro and Pound against the Dollar(as predicted) and this should be the Trend this weak.I will be looking to Short these pairs at the very top of retrace their highs off. This means lots of awaiting the setup. I didnt trade whatsoever - Now - Veterans Day - but will probably be Trading again tonight at European session available or North American session after.Good chance to all and I WILL post all my commerce setups (or disasters) with their charts.
Hey 8 fingers. On Monday evening I shorted the Eur in 1.2702 for 100 pips on my very first place Should have done in the beginning of the daily at 1.2745 but was not facing my computer, but took the trade though it was in my own way anyhow. Now I have another positon open and hopefully it will continue to fall...Originally Posted by ;
Let's see.
Well done fxeagle! It'll keep falling( my prediction ), though I'm alarmed at how fast it is happening. This sets up the situation of a correction. Right now-the dollar is eating up the Majors. Excellent luck as always! P.S. I'd have taken the 100 pips too - ALWAYS!Originally Posted by ;
I have not been trading much this week( 1 commerce yesterday-tues to get 17 pips) as I have been coding an Ea made to work on MiniAccount under 500. $ I am almost finished and'm in the testing(ahead ) stage. I'll post EA and outcomes in new thread. Then I can allow the Forex'ers kick it around through test drive. Fantastic luck !