frugi
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And don't ask that FetteredChinos for directions either cause he'll only run your stop, steal your contracts and then force the market in t'other direction with his mighty 50 lot clip 
No offence FC ;-)
Been enjoying the Euro's decline today, now just scalping the 25 point range at quarter size, hoping, like you, for some direction before it dies, though expecting little. Then off to the £5.55 a month gym which, though full of oddly shaped grunting creatures, does boast a decent rowing machine.
Edit: Looks like an upside BO at last. Good for 20 pips perhaps.
No offence FC ;-)
Been enjoying the Euro's decline today, now just scalping the 25 point range at quarter size, hoping, like you, for some direction before it dies, though expecting little. Then off to the £5.55 a month gym which, though full of oddly shaped grunting creatures, does boast a decent rowing machine.
Edit: Looks like an upside BO at last. Good for 20 pips perhaps.
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frugi
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Hehe Roberto not a bad guess, but I wouldn't dare (though I drive past it often). Someone was recently stabbed there in an argument over steroid dealing turf I believe. Makes for a tranquil, friendly atmosphere one would imagine.
With all those profits Buk I can barely afford to buy 80kg bags of cat food at Costco let alone attend a posh gym. That's why I left David Lloyd and its faithful core of yummy mummies, "club facilities" and screaming brats last month, with, I may say, more than a hint of pleasure.
The trading pot must be allowed to grow - it will be worth it in the end.
Sorry mods I am wandering severely off topic here.
With all those profits Buk I can barely afford to buy 80kg bags of cat food at Costco let alone attend a posh gym. That's why I left David Lloyd and its faithful core of yummy mummies, "club facilities" and screaming brats last month, with, I may say, more than a hint of pleasure.
The trading pot must be allowed to grow - it will be worth it in the end.
Sorry mods I am wandering severely off topic here.
Buk said:with all those profits Frugi, I thought you'd have at least wandered across Bramhope way??!! :cheesy:
I hear they boast a more attractive 'audible emission'
and on the subject of profits.........all those "pips" fuddling your brain Hopefull??
- Yeah - trying to write,think and trade - overload for me,Buk
Interesting Frugi - I also see that Cable appears to be delivering on that 1-2-3 Rev. set up right now glad I took profit when I did !
Missed this trade as I was typing away in here - never mind can't catch em all.Be another one along soon enough.
Hope your day has gone well...oh and congratulations on finding the cheapest gym in the UK !
H
Missed this trade as I was typing away in here - never mind can't catch em all.Be another one along soon enough.
Hope your day has gone well...oh and congratulations on finding the cheapest gym in the UK !
H
Midge
I use the PowerCharts package from FXCM. ( free to all 'live' clients I believe).They also have a prop. package called MarketScope - best avoided imo.
The PowerCharts package is basic in some ways but good enough for my purposes - It depends on what TA/indicators you choose to utilise for your trading.
HTH
H
I use the PowerCharts package from FXCM. ( free to all 'live' clients I believe).They also have a prop. package called MarketScope - best avoided imo.
The PowerCharts package is basic in some ways but good enough for my purposes - It depends on what TA/indicators you choose to utilise for your trading.
HTH
H
philhackett
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Hopefully this helps.
When you trade, regardless of the pot that is available to you, it is important that you use the best available broker and best indicators. I use www.gftforex.com and my superb supportive manger is Wes Newman.
Dealbook/GFT provides everything you need to trade FREE! Superb charts, indicators and a data feed.
My set up uses three screens linked through a Parhelia Matrox Card. Right Hand screen has two charts on the screen; a one hour candle and Kagi. The centre screen has candles with Bollinger and Double Exponential Moving Average (DEMA) on the chart and Schaff below.
Left hand screen has the chart dragged out of the way to show J.Welles Wilders Directional Movement Index (DMI), Directional Movement (ADX) and sometimes the Commodity Channel Index (CCI) on the full screen.
Do not enter a trade until the market is trending. To establish this use the ADX. When the market is between 26 and 40 it is in a trending market. Above 40 it is in a strongly trending market.
The Dema will give a strong indication of a market move when it moves to an angle of 80 degrees from the horizontal. ALWAYS PLACE YOUR FIRST STOP WHEN YOU PL:ACE A TRADE IN CASE THE MARKET MAKERS MANIPULATE THE MARKET AGAINST YOU.
At the start of the day look at the immediate history. Is it an up or down day? Where are the highest highs and the lowest lows? What did the last three candles do? Use P&F to find double tops and bottoms. Be aware of oil price fluctuations because the Yen is always affected and becomes tradeble when Oil is volatile. The Yen strengthens in March as Japanese Companies square the books and sell T Bonds to do it.
Remember 3pm is Options expiry time and 4pm on Friday is when Hedge Funds automatic trades kick
in. An aggresive move at 3pm will usually continue. Watch for trend line breaks. A gap will always fill.
Remember that you do not have to trade every day. If there is not a trade do not try to make one.
I hope tht this helps.
Phil
When you trade, regardless of the pot that is available to you, it is important that you use the best available broker and best indicators. I use www.gftforex.com and my superb supportive manger is Wes Newman.
Dealbook/GFT provides everything you need to trade FREE! Superb charts, indicators and a data feed.
My set up uses three screens linked through a Parhelia Matrox Card. Right Hand screen has two charts on the screen; a one hour candle and Kagi. The centre screen has candles with Bollinger and Double Exponential Moving Average (DEMA) on the chart and Schaff below.
Left hand screen has the chart dragged out of the way to show J.Welles Wilders Directional Movement Index (DMI), Directional Movement (ADX) and sometimes the Commodity Channel Index (CCI) on the full screen.
Do not enter a trade until the market is trending. To establish this use the ADX. When the market is between 26 and 40 it is in a trending market. Above 40 it is in a strongly trending market.
The Dema will give a strong indication of a market move when it moves to an angle of 80 degrees from the horizontal. ALWAYS PLACE YOUR FIRST STOP WHEN YOU PL:ACE A TRADE IN CASE THE MARKET MAKERS MANIPULATE THE MARKET AGAINST YOU.
At the start of the day look at the immediate history. Is it an up or down day? Where are the highest highs and the lowest lows? What did the last three candles do? Use P&F to find double tops and bottoms. Be aware of oil price fluctuations because the Yen is always affected and becomes tradeble when Oil is volatile. The Yen strengthens in March as Japanese Companies square the books and sell T Bonds to do it.
Remember 3pm is Options expiry time and 4pm on Friday is when Hedge Funds automatic trades kick
in. An aggresive move at 3pm will usually continue. Watch for trend line breaks. A gap will always fill.
Remember that you do not have to trade every day. If there is not a trade do not try to make one.
I hope tht this helps.
Phil
Copernicus
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Really sound advice trendsignalUK.
Keep in mind the need to generate a regular cashflow to pay the increased mortgage. The variability of cashflow through dedicated day trading is variable.
Agreement with the wife is imperative. The risk is borne by all dependants in the family.
I agree with the statement 'scared money never wins'. The risks of a poor trading decision through failing to apply a disciplined trading srategy is inevitably increased when you have so much to lose.
Try to reduce your risk exposure through acquiring a low risk but reliable cash flow stream while at the same time continuing to part time trade where you can hone your skills)
Keep in mind the need to generate a regular cashflow to pay the increased mortgage. The variability of cashflow through dedicated day trading is variable.
Agreement with the wife is imperative. The risk is borne by all dependants in the family.
I agree with the statement 'scared money never wins'. The risks of a poor trading decision through failing to apply a disciplined trading srategy is inevitably increased when you have so much to lose.
Try to reduce your risk exposure through acquiring a low risk but reliable cash flow stream while at the same time continuing to part time trade where you can hone your skills
)
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philhackett said:
Phil, hi
...and thank your for sharing these thoughts.
Ironically I have been considering making a move over to GFT recently.I am suprised that FXCM have not lowered their spread on GBP yet and 5 pips is a bit on the 'toppy' side nowadays in comparison with the other retail spot brokers.
Your strat. looks very interesting and I trust it is serving you well - but having experimented endlessly with various MA's (EMA and WMA) and more indicators than I wish to remember I am at home with my simple price chart nowadays ! (but then I never was the sharpest tool in the shed) !
All the best
H
