EUR/GBP today, a very good trade! I say this because I got in and handled my emotions well its not often I do this but i am working on it. The trade was very simple! find what you looking for, know when to get out, if it is worth the risk get in the trade and trade your plan. This is exactly what I have done.
Hi, I just signed up to this forum yesterday and I was reading your thread with much interest. I am brand new to trading, but really want to learn as much as I can.
I was hoping you could help me out by answering a few questions for me?
1. Did you start with £80? I was confused by other posts about additional deposits and rewards?
2. How much profit have you made to date?
3. Did you do the above trade at 6am this morning?
4. What would you recommend I read to develop my knowledge to trade like you?
Thanks in advance for taking the time to answer my questions, I really appreciate your time.
Cheers,
julz
I was hoping you could help me out by answering a few questions for me?
1. Did you start with £80? I was confused by other posts about additional deposits and rewards?
2. How much profit have you made to date?
3. Did you do the above trade at 6am this morning?
4. What would you recommend I read to develop my knowledge to trade like you?
Thanks in advance for taking the time to answer my questions, I really appreciate your time.
Cheers,
julz
Hi Julz
Before I answer your questions I just want you to know that I am new to trading successfully. My £80 account was the first time in 3 years that I ended a month with a profit so just like you I am still learning.
ANSWERS
1)Yes I started this thread with an account of £80 but I felt I could not really turn it into anything. So I switched to another account only because they offered me good bonuses(£500)and I would not risk my own money.
2)Between the two accounts I dont really know
3)No it was at 10:00 am
4)Go through Trader_dante's MAKING MONEY TRADING thread. this will teach you the strategy. I do not know what to read on handling emotions maybe someone else can recommend something.
In my opinion learning to trade is about discipline, determination, confidence, and the important one believe because if you don't believe in yourself or that a specific strategy works your trading will go horribly wrong.
Just my opinion
Thank you
Hi,
Thank you for your reply, much appreciated. I only realised after I posted the comment that the time zone of the forum!
In regards to the bonus, did you have to deposit £500 of your own money, and then fulfil some terms and then they put £500 in the account. I have looked at a few of these deals, but I am confused about what I need to do after to meet their terms on some sites.
I spent hours on this forum last night, reading lots of threads, I came across Trade Dantes thread in the early hours of the morning, so did not get to go through it. FRom what I can gather on this forum it seems to be an excellent thread so I will be going through it in great detail.
I have so much to learn, just figuring out the lingo and what things actually mean is a massive learning curve for me.
I am really looking forward to getting started and I trust that I have a good foundation of the qualities that you mention so that I can develop myself in each of these areas.
Thank you again for your comments.
Kind Regards,
julz
Hi,
Thank you for your reply, much appreciated. I only realised after I posted the comment that the time zone of the forum!
In regards to the bonus, did you have to deposit £500 of your own money, and then fulfil some terms and then they put £500 in the account. I have looked at a few of these deals, but I am confused about what I need to do after to meet their terms on some sites.
I spent hours on this forum last night, reading lots of threads, I came across Trade Dantes thread in the early hours of the morning, so did not get to go through it. FRom what I can gather on this forum it seems to be an excellent thread so I will be going through it in great detail.
I have so much to learn, just figuring out the lingo and what things actually mean is a massive learning curve for me.
I am really looking forward to getting started and I trust that I have a good foundation of the qualities that you mention so that I can develop myself in each of these areas.
Thank you again for your comments.
Kind Regards,
julz
Once they deposit the money in your account just withdraw the money you put in initially.
Masquerade
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At the time it was a special offer vdm spreads I don't think they do it anymore but you can still try. Sorry I don't have the link
Masquerade
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trader_dante
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I have no words for myself
I have some words for you!!!
Why are you taking three trades that are basically all betting on the same thing? i.e. Swissie weakness?
These trades are highly correlated so you multiplied your risk threefold - if one failed the odds were high all would.
Ironically there was one of only two potential trades that I would have taken today and it happened to bet on Swissie weakness but you seem to have missed it!
It was this one in Usd/Chf (pin at triple bottom) and I passed on this considering it was too dangerous as it looked to me like a profit taking pin.
Other thing I would say about your trades is that after the inside bar triggered and the next candle formed a huge pin, I would have come out when it broke the low which would have reduced your loss greatly.
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montmorencyt2w
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Tom,
What do you mean by a "profit taking pin", and what is it that leads you to this conclusion?
Thanks,
I am sure Tom means 'a suckers Pin' and according to his explanation(if Iam not wrong) these Pin's are formed due to traders booking profits at a key level after a genuine move or Stoploss Orders getting hit in for people aiming to trade against that move in a Higher TF maybe. This types of Pins are very dangerous and after the profit booking or other Stop orders gets hits that previous move is likely to continues in the same trend taking out the next Pivotzones.
I have experinced these Pins few times but honestly at my level its really hard to differentiate these Sucker's Pin to a genuine Pin bar as they look equally beautiful but one thing I have noticed is these Pin's dont usually protrudes the Pivot zone that far, they may have long nose but not protruding the actual Pivot zone but still I am not good at it, always gets sucked lol!
I believe it takes lot of screen time to identify these Pin's and develop that hindsight.
Hope that helps otherwise let the master come and explain in more detail.
Cheers!
montmorencyt2w
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Ah well, I can relate to sucker pins all right (if not necessarily recognise them when I see them).
Indeed, let him come. But perhaps for that to happen, we have to sacrifice a fatted calf, or a virgin, or something. And where do you get a virgin when you really need one?
Indeed, let him come. But perhaps for that to happen, we have to sacrifice a fatted calf, or a virgin, or something. And where do you get a virgin when you really need one?
Why are there so few setups?..... this is not good for someone that only has two days to trade.
Why not consider a lower time frame and adding another swing trading method like S/R breaks to your strategy? You'll then have bounces off S/R (pin bar only) and breaks of S/R on a M5 time frame (or M15 if you see more pin bars there). That will definately increase your trade opportunities.
With all due respect to TD (of which there is much I assure you), even though the lower TFs have more 'noise' the losses are smaller on a lower TF and you also get to see the results of your trades more quickly (as opposed to waiting hours for setups and disappointments). Even if you paper trade the M5 while you place real trades on the higher TF - this might also keep you occupied and increase your morale (even if they are only demo wins).
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Hi Neoripley
Thanks for your input. I actually started to do exactly what you said about a week ago I even added US stocks(daily time frame) to my list, so far the problem I have is that I can't find something that works for me on the 5 min time frame. I know you said breakouts but how would you go about trading the breakouts?
trader_dante
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That Eur/Gbp trade was appallingly bad. You basically sold an IB when a pin to go long was in play?!
There were a lot of setups today and very profitable ones.
I got 70 pips in Cable - nice and simple trade. Support breaks, market retests and forms an IB (chart 1) but missed the Eur/Gbp extravaganza (chart 2) as I was explaining something to someone! Nice trade that - pin takes out support, trapping shorts and news pushes market higher.
Usd/Jpy has been a beauty recently also. From right to left on chart 3 I took:
1 - Sold the hourly pin at resistance. Got 16 pips up but nowhere near target and then stopped out for -18. Note the double top IB that comes after I'm stopped. This would have been a fantastic setup but it came at 3am and I was asleep for once!
2 - Sold the IB breakdown at s/r pivot and by luck had a limit in at the low of the move to the pip for +64. This was a little risky as its a breakout trade.
3 - Bought the IB once again at an s/r pivot. Closed at the resistance and got filled 2 pips off the high for +30
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