Forex Day Trader's Thread

[wh92stang]

Pippy, how long did it take until you became consistently profitable?

I think I can be consistently profitable, but then every once in a while I make a really dumb trade and refuse to cut my loss thinking it's going to turn around, and it doesn't. I've been trading since March of this year, so about 6 months.

 

[wh92stang]

Here we go with Euro...

Oil's making new lows for the day too.

 

[Pippy5000]

got it .. but only banked 7 .. chickened out

 

[N Rothschild]

pussy

 

[Pippy5000]

It took me about two years before I figured I could make profits on a monthly basis.. I wish I would have waited another year before quitting work though. I would be in a much better position.

 

[wh92stang]

EUR.GBP is bordering .90 which could be a pretty big level.

 

[Pippy5000]

Aussie scalp order filled..

 

[Pippy5000]

will re-enter long 89.35 if I get stopped.. this little puppy is painfully oversold

 

[Pippy5000]

I might be a pussy Gene, but a pussy with 7 pips :cheesy: it seems to be turning around..

 

[wh92stang]

I'm still hanging onto one Euro lot. Closed one at 1.474. Riding them from 1.477.

BUT, even with this very nice gain, I'm still down for the day because of a really stupid trade on a stock this morning.... exactly what I'm talking about with CONSISTENCY!

 

[wh92stang]

Closed the other one at 1.4736.

 

[Pippy5000]

eekk.. should have let the stop ride .. I think .. I might have been stopped out though.

Aussie will have no choice but to bounce soon.. this is the longest daily candle I've ever seen

 

[wh92stang]

Didn't take more than 30 seconds after I closed to fall off a cliff, as usual.

 

[Pippy5000]

yeah.. I looked at the chart and I wouldn't have been stopped out on my sell stop.. screwed myself out of only 10 pips so it's ok.

 

[Pippy5000]

banking 4 pips on Aussie.. I was -26 at one point.. did not get the bounce I wanted so I'm happy to ditch in profit.. will definitely buy lower because it is due for a decent o/s bounce

 

[Pippy5000]

A breakout signal was just generated via my backup broker FXCM targeting 1.4483 in Euro .. This strategy has a historic success rate of 64%

 

[Pippy5000]

I'll scalp Euro long at 1.4685 +30 -30

I'll sell any strength in Euro as well.

 

[Masquerade]

I hate it when you're right.

 

[Pippy5000]

If you're holding on to this trade you should ditch on the next rally and reverse to short to make up your losses.. this could keep going.. bad being added to bad all day..

 

[Masquerade]

GDP tomorrow....I think the forecast is out a bit.