Forex Day Trader's Thread

[cpngtw]

1.450 has been holding very well

 

[Masquerade]

Do you sleep mr rothschild?

 

[JahDave]

I'm glad you asked me that before I took that trade. I said that because the 61.8 is there, but when I went out to the daily chart and reevaluated from there then I see you are probably right with your analysis because the 76.4 is there on the daily chart.

 

[Pippy5000]

ugh.. fibonacci?

fib works on big charts only.. otherwise it is of secondary, tertiary or usually quadriary importance.. SMA is more important, but not really important .. where the market has previously spoken is most important!

 

[Masquerade]

You guys don't just flip coins and ask magic 8 ball? :-0

 

[JahDave]

So what sma times do you think are the best to use?

 

[N Rothschild]

Do you sleep mr rothschild?

yes i live on US time in the UK so late nights and late mornings

 

[Masquerade]

yes i live on US time in the UK so late nights and late mornings

That's interesting - I thought of just trading nights and scalping ranges but it's a bit impractical to live that way. I guess 6 hrs isn't too much of a difference. So what time will you go to sleep at UK time?

 

[cpngtw]

fib is just secondary, most important is S/R

 

[Pippy5000]

actually Dave SMA is only pertinent to certain pairs.. EJ seems to obey SMA on the dailies quite well while EU doesn't trade well at all.. Fib is MAJOR only on MAJOR charts.. so if you're talking about a short term move ignore fib.. every pair obeys s/r.. unless it is a weakly traded pair dragged and pulled by its parent..

 

[cpngtw]

That's interesting - I thought of just trading nights and scalping ranges but it's a bit impractical to live that way. I guess 6 hrs isn't too much of a difference. So what time will you go to sleep at UK time?

much different between 4 hrs & 6 hrs

 

[Masquerade]

much different between 4 hrs & 6 hrs

I'm not following, it could be i'm tired - but care to explain?

 

[Pippy5000]

Mask,

You are so lucky to live in UK time.. trade Europe and US .. Asia is BORING.. I only wish I could trade Europe.. seems to be most of the really big moves happen then..

 

[N Rothschild]

That's interesting - I thought of just trading nights and scalping ranges but it's a bit impractical to live that way. I guess 6 hrs isn't too much of a difference. So what time will you go to sleep at UK time?

about now ish! 3-4am ussualy then wake about 1-2pm ..i love my sleep if i have an overnight pos on i wake up around london opening to see how its going then retire back to bed

 

[Masquerade]

Well I know when I was trading ch/jpy I was getting slaughtered after midnight GMT. You could trade europe if you got up earlier. You're more than welcome to move to the UK and use my bench when i'm not using it.

 

[cpngtw]

there were some articles studying about sleeping patterns. A person could sleep only 6 hrs a night with some nap like 30 mins to 1 hour during the day year in year out. 5 hrs is more difficult to maintain for a long time, and 4 hours is really extreme over a long time.

 

[N Rothschild]

Mask,

You are so lucky to live in UK time.. trade Europe and US .. Asia is BORING.. I only wish I could trade Europe.. seems to be most of the really big moves happen then..

you could easily trade european fx open break outs..it would be about 1-2am there!

 

[Pippy5000]

for instance .. right now..

1.45 is a burly, manly beast .. I think Europe can take it out.. I really do.. and NFP could take it out like a hot knife through butter..

it's not arrogance or stubborness which keeps me in my position.. it's just that if EU holds a range I have grabbed it by the absolute best price.. there won't be a better trade this week or next week!

we'll see.

 

[Masquerade]

about now ish! 3-4am ussualy then wake about 1-2pm ..i love my sleep if i have an overnight pos on i wake up around london opening to see how its going then retire back to bed

But you miss a lot of the morning data? Or are you mainly trading US stocks?

 

[Pippy5000]

Gene,

womanizing is hard work.. chicks do not like weirdos who are awake all night.. I do fine.. not rich.. not broke.. very happy with my current life.. needs no changes.. I "possibly' could get more hamsum, but it's a major long shot ..