Forex trading live calls and set ups

[Black Swan]

Nice BS I'm starting to compile all my trades in an excel sheet to check how I could improve. Its not an easy task I took 23 trades alone today. I have issues with long term trades my hit rate is very poor. Quick trades I tend to be at around 68%. I'd love to start leaving trades overnight but desperately need a strategy. Anyone looking to swap strategies short term for long?

I noticed for quite some time that everytime I had a losing long term trade I'd just go over to the DOW and make it back and then some. Then it occurred to me just cut the long term trades out and I've been fine ever since. I'm advancing in years and would like to cut some of the stress out tbh. The DOW is possibly the biggest cause of heart attacks in the world.

Just like to add that I am right now checking out pivot points I would be nice to know how you play these. I understand the basics of taking the previous day and adding the Higher + Low + Close then dividing by 3 to take the basic pivot. Any move upward through the pivot is a long and passing down through it is shorting opp. Seems nice and simple.

I've done the 20+ day-trades per day, across 6+ pairs, off 15-30 min TFs...was it fun? Perhaps, but tbh a waste of time and duplicated effort, but something I had to experience and work through/out for myself..I don't do the indices, havn't traded them for a while now, thought of having a punt a day on the S&P but then reminded myself that I don't do punts.

If you want less stress then take less trades, on smaller stakes, until you reach a state of peace with yourself. Just trade EU, or UJ or AU off perhaps a 30 min TF, you'll get 1, maximum 3 entries per day. If you're only risking 1% per trade then the max you could lose would be 3% but that'd be highly unlikely I'd suggest (if you edge is sound) you'll make 1% per day (most days)..

As for pivot and S+R, whether using marketscope or pro-real time it calculates the dailys for you.

Can't really advise re. your issue with longer term trades..other than perhaps to trade a single pair from a swing and or position trade on a micro lot basis until you feel OK with it...

 

[ha0dho]

Anyone here trade oil?

On the 4hr its looking like a long entry the price is at a resistance level, hopefully there will be a bounce.

 

[Black Swan]

Anyone here trade oil?

On the 4hr its looking like a long entry the price is at a resistance level, hopefully there will be a bounce.

Yes thanks and I hope you're wrong (short since the 15th)...

 

[ha0dho]

Yes thanks and I hope you're wrong (short since the 15th)...

we will see

 

[Lord Flasheart]

Everythings still seems right about my jpy/usd trade so I will re enter when I can
ivery rarely trade on a sunday nightunless I feel confident,will post entry when I take it

 

[Infinetyp]

Seriously good advice from"The Goose", especially the part about working it out for yourself or else it means nothing (sorry, anything) only wish my capital lasts long enough to get good enough experience at this game, doubt it but will try.

I've done the 20+ day-trades per day, across 6+ pairs, off 15-30 min TFs...was it fun? Perhaps, but tbh a waste of time and duplicated effort, but something I had to experience and work through/out for myself..I don't do the indices, havn't traded them for a while now, thought of having a punt a day on the S&P but then reminded myself that I don't do punts.

If you want less stress then take less trades, on smaller stakes, until you reach a state of peace with yourself. Just trade EU, or UJ or AU off perhaps a 30 min TF, you'll get 1, maximum 3 entries per day. If you're only risking 1% per trade then the max you could lose would be 3% but that'd be highly unlikely I'd suggest (if you edge is sound) you'll make 1% per day (most days)..

As for pivot and S+R, whether using marketscope or pro-real time it calculates the dailys for you.

Can't really advise re. your issue with longer term trades..other than perhaps to trade a single pair from a swing and or position trade on a micro lot basis until you feel OK with it...

 

[Lord Flasheart]

hope your impressed with that idea:smart: of mine.Jpy has just fallen 40 pips,the only currency to do so.Still I have a better entry price.Its way below my line now so will leave be

 

[Lord Flasheart]

Seriously good advice from"The Goose", especially the part about working it out for yourself or else it means nothing (sorry, anything) only wish my capital lasts long enough to get good enough experience at this game, doubt it but will try.

stay around and trade demo only,its a hard learning curve.You can see us all suffer or look like a genius on this thread

 

[Infinetyp]

demo account:|, do those still exist?

Just apply for a credit card, you'll have £15k limit within 3 months, easy 1st step, then just cash that credit card cheque to a spread betting account and turn that £15k spreadbetting account into earning £4k per month...(£185 per day, from 12 trades per day at 15 pips at £1 each)...anyone can do 12 profitable trades a day earning 15 pips at £1 a pip...can't they? :smart:

stay around and trade demo only,its a hard learning curve.You can see us all suffer or look like a genius on this thread

 

[Black Swan]

Seriously good advice from"The Goose", especially the part about working it out for yourself or else it means nothing (sorry, anything) only wish my capital lasts long enough to get good enough experience at this game, doubt it but will try.

Sorry bud didn't see Gooseman on this thread...anyhow, just want to pick you up on one thing, I'll use caps lock for dramatic effect; THERE IS ABSOLUTELY NO EXCUSE/OR NEED TO GO THROUGH SERIOUS CAPITAL IN ORDER TO LEARN THIS GAME (if forex is your thing) ... open a micro fx account with fxcm or Alpari and you can trade the equivalent of ten cents per pip for as long as it takes you to get competent...If you open with $500, and risk 0.5% per trade (25 pips) and limit yourself to a few trades per day, on for example cable, you'll make it last a long time before you need to re-charge your account, with a bit of luck/plenty of effort you may then start to become competent...You'd need what, 200 losing trades before you've lost that $500?

 

[Black Swan]

we will see

Well if that happens..."What say we swing baby?"

 

[Infinetyp]

REALLY?

(note the dramatic effect)

Sorry bud didn't see Gooseman on this thread...anyhow, just want to pick you up on one thing, I'll use caps lock for dramatic effect; THERE IS ABSOLUTELY NO EXCUSE/OR NEED TO GO THROUGH SERIOUS CAPITAL IN ORDER TO LEARN THIS GAME (if forex is your thing) ... open a micro fx account with fxcm or Alpari and you can trade the equivalent of ten cents per pip for as long as it takes you to get competent...If you open with $500, and risk 0.5% per trade (25 pips) and limit yourself to a few trades per day, on for example cable, you'll make it last a long time before you need to re-charge your account, with a bit of luck/plenty of effort you may then start to become competent...You'd need what, 200 losing trades before you've lost that $500?

 

[wackypete2]

hope your impressed with that idea:smart: of mine.Jpy has just fallen 40 pips,the only currency to do so.Still I have a better entry price.Its way below my line now so will leave be

No trading here yet. Most forex brokers won't open up (bucket) shop for another hour.

Peter

 

[Lord Flasheart]

No trading here yet. Most forex brokers won't open up (bucket) shop for another hour.

Peter

yeahits the same over here, i would have had a nice entry price,

 

[ha0dho]

Here we go long eurgbp

entry 0.87614

SL 50

 

[Lord Flasheart]

Here we go long eurgbp

entry 0.87614

SL 50

what broker are you using

 

[Lord Flasheart]

got to trade what i feel
long jpy/usd 91.43 s/l 30

 

[Lord Flasheart]

im looking for a lot from this trade.I have a clear break as posted on Fri and today.
some intervention would be nice

 

[wackypete2]

9143?
You have some serious drawdown

Peter

 

[Lord Flasheart]

9143?
You have some serious drawdown

Peter

we have large spreads over here 81.43