Forex trading live calls and set ups

[leovirgo]

see it bounce off the trendline at 1.4030, so easy in hindsight,at least I had that one

have a limit @25. let's see

 

[leovirgo]

either euro or yen will make my day..

 

[Lord Flasheart]

either euro or yen will make my day..

hope so, im off for a while good luck

 

[20 a day]

Short Cable @ 27 stop 51

Closed @94 +33

 

[leovirgo]

closed uj and eu for both +20 each

 

[leovirgo]

Closed @94 +33

great

 

[leovirgo]

I am still down for the day mainly from cable stop. let's call it a day as we approach FOMC range contraction period. see u all tomorrow..

 

[leovirgo]

make that 3!
I took a beating on GU, as each signal resulted in a whippy reversal. 2 consec losses.

EJ started off at BE, but then took a further 2 losses as each break was reversed.
these "megaphone" type patterns (higher highs and lower-lows), mess up range break-out types, as well as being nasty to those who use previous highs/lows as stops.

there! feel better now.

(great, great thread, leo et al.)

nice to see u here!

 

[be-positive]

long cable 90 sl 79 tp 112

 

[be-positive]

blah --- ok see you tomorrow

 

[Lord Flasheart]

20 a day, nice start to your carear on here. I trade 1 nice winner welcome

 

[oildaytrader]

I am still down for the day mainly from cable stop. let's call it a day as we approach FOMC range contraction period. see u all tomorrow..

What is the worst drawdown period of this system?It can be in pips or period of time.

The reason I ask this question,is traders must be prepared to survive this period/pips drawdown.Many manual traders will not have the confidence to continue to trade a system /method after a string of losses.If the approximate drawdowns are known ,traders are prepared and ready to ride them.

 

[Lord Flasheart]

The attached graph is one of the main ways I trade using simple trendlines. Today was just so easy if Id been here to take all the trades. By my count it touches within 3 ticks on seven occasions and both lines could have drawn by 6.30. As I said when I called out the first trade on the pullback,hindsight is so easy. There were at least 6 clear trading opps and I only took one. It just go to prove that if I had the best racing car in the world I would probably finish last and end up the ugliest bird on the circuit.

 

[be-positive]

goodmorning guys all the best today

 

[Lord Flasheart]

Morning all,may the trading gods shine down on us all Im long eur/usd. 1.4021 s/l -10 target 1/2 off at about +10 Trendline break

 

[Lord Flasheart]

simple stuff really when it goes right. It broke the 2 day trend pulled back to line and away we go. Ive now taken 1/2 off as we post and moved the stop to B/E

 

[Lord Flasheart]

moved stop to +12. Great day so far

 

[20 a day]

20 a day, nice start to your carear on here. I trade 1 nice winner welcome

Thanks.

 

[Lord Flasheart]

last trade,stopped out for nice profit,getting ready to get back in

 

[20 a day]

Looking to see if Jobs data today can set some direction to get us out of this range on Cable.
Up till then am hoping to take some pips from the range remaining in place so short @69 stop at 86