Forex trading live calls and set ups

[bedsit]

a ballistic up-move!

That's the word.

 

[ChowClown]

Hi there, do you risk (approx.) 0.5% per trade?

Yes, it varies between 0.5% and 1%.

 

[Ross Spur]

The benefits of trading the US after a bad morning is that because you have to wait until the US session starts, it gives you time to stop thinking of immediate revenge trading.

EDIT: I write this having got hung out to dry on the GU break to the downside reversed into a ballistic up-move!

Talking of bad mornings...

 

[Dinos]

As we were mentioning HA Candles earlier, for visual purposes, attached todays eur/usd M10 HA trades, v easy on the eye and always with the current movement, though it might be useful for those that don't use to see how the differ visuallly

 

[bedsit]

Before I would usually go for top catching at this moment, but that would be a revenge trade. I've stopped doing that sort of things.

 

[redart]

+22

nice

 

[ChowClown]

Very lucky - caught +21 from 42 earlier, wasn't around to post. Just a lucky TP hit.

 

[Ross Spur]

... and revenge trades. Long EU 13846.

 

[Ross Spur]

Trailed my stop and made a stupendous 1 pip. No doubt it'll bounce now.

 

[pocrel]

stop now at 1.3827

still a 9 point risk on the table

was tempted to take the 25 points but will hold it

well i seem to be the only one holding this eur/usd trade :whistling

stop now at 1.3830 so 6 point risk, damn thing is not moving waiting for the news i expect

 

[bedsit]

IMO Good to wait and see if there is some sort of reversal when US starts.

 

[trendie]

the "Big Ben" players over on t'other thread had a good day. (breakout of 8am-10am)

 

[ChowClown]

well i seem to be the only one holding this eur/usd trade :whistling

stop now at 1.3830 so 6 point risk, damn thing is not moving waiting for the news i expect

Good patience

 

[be-positive]

As we were mentioning HA Candles earlier, for visual purposes, attached todays eur/usd M10 HA trades, v easy on the eye and always with the current movement, though it might be useful for those that don't use to see how the differ visuallly

thanks dinos - you will have your finger on trigger again soon ?

 

[pocrel]

Good patience

i will take my +35 on the eur/usd here

out before the news

 

[Black Swan]

I can relate to Black Swans thought that some daily target might be a better approach.
This helps to smooth out equity curves, as already pointed out by Vaco.

The frustration of a bad morning can sometimes be dealt with by trading the Session Americano.
It has its own volatility, direction and range breaks to play.
It allows the chance to have 2 chances. If you're wackypete, you might also add the overnight ranges.

The benefits of trading the US after a bad morning is that because you have to wait until the US session starts, it gives you time to stop thinking of immediate revenge trading.

IMHO there's 2 ways to approach day-trading *targets*; either have a fairly fixed target in your mind per pips (with me it's anywhere around 30 pips/150 per week) or trade for a defined period of time, 7:30 'til approx 4:30, and call it a day until you've either reached that target or reached your daily loss tolerance...whichever comes first..

If you're target gets blasted through (for me that'd be 40+) and I've placed no limit, for example, you're about to close and the candle moves dramatically in your favour, then it's simply a bonus..

Practical examples (on the *smalls*)

Here's how I'm playing it these days;

If I have 2 winning trades in a row from my daily start then that's it. I know if I take 2/3 more 1 will be (probably) be a loser, possibly 2, therefore I may get 45-50 pips for the day, or be no bettter of if I'd stuck rather than twisted, but is the extra 15-20 pips risk really worth it for all that extra screen time? No guarantee that your morning gains won't be wiped out..

Conversely if I have 2 losers, from my start of the day, I know that I've got a bit of work (screen time) to do to simply b/e for the day, I'll need a run of 3 winners to be positive, if I get that 3rd winner in a series (to be perhaps 15-20 pips up for the day) once again that's it for the day...very unusual for me to take 6 day-trades in a day therefore again what are the prollys telling me?

 

[redart]

risky short 1.5924
15 pip stop

 

[ChowClown]

risky short 1.5924
15 pip stop

...interesting, possibly at the end of the 5th wave up (5min) from London open and daily/wkly R pivots there too. Good luck.

 

[redart]

risky short 1.5924
15 pip stop

+12

 

[pocrel]

short gbp/usd
1.5911

stop 1.5941

1/2 size as against the trend