Sign up to Talking-Forex. It's pretty good for £20 a month.
Is this a no brainer trade?
- Thread starter MajorDutch
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Sign up to Talking-Forex. It's pretty good for £20 a month.
BeginnerJoe
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One can only surmise they find me as engaging as you clearly do.
If you acuse others of being inferior, then it only makes sense for you to come up with proof that you are superior. That's where a statement comes in handy for name calling.
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BeginnerJoe
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Well I can use ransqwak for free. They have news announcement schedule. At this stage, I don't actually know which on the list has an effect. Ideally, something simple like someone saying: there will be blood in the CAD market at 2pm tomorrow because of so and so news announcement. I don't actually need to know what the news is, but just when it will be happening. That would give me a chance to go hide under the duvet.
Yea you can. talking forex is the same as ransqwark. Same guy talking for £20 a month instead of £100. It's up todate news as it comes out. The free version is delayed, but i guess you don't need that.
MajorDutch
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As predicted price met trouble at the 1st price indecision area. trade is currently sat +60 pips, stop at break even. I am in for the long term with a target of 1.0050.
I have heard many traders say 'I am now in a free trade', don't be fooled by that bo77ox. You have to look at the risk of the trade in it's entirety. I am sitting with my stop at break even so wont make a loss (putting slippage aside) however this is not a free trade. Price could have just as well taken out my stop right from the get go.
at time of writing price is moving up swiftly so this could be taken out at b/e soon.
I have heard many traders say 'I am now in a free trade', don't be fooled by that bo77ox. You have to look at the risk of the trade in it's entirety. I am sitting with my stop at break even so wont make a loss (putting slippage aside) however this is not a free trade. Price could have just as well taken out my stop right from the get go.
at time of writing price is moving up swiftly so this could be taken out at b/e soon.
BeginnerJoe
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1200 on the dot. Bang, the sting in the tail struck. It'd be impressive if you are still in the profit at the end of the day. My demo account got cleaned out.
DionysusToast
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Nice clean chart
CAD hits major weakness yesterday, so I think it's a good trade
Gotta ask - that's not by chance the Pete Do Luiz in Singapore is it?
MajorDutch
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price revisited the bottom of the pin after rebounding off the 1st price indecision area. I was within 10 pips of being stopped out for b/e. I am now hoping price will revisit the 1st price indecision area and progress through it. This will be a slow burn though and it could hang around that zone for several days, that's if it doesn't bounce off again and stop me out. Will be interesting to see the weekly pin when it closes. back to the short term stuff.
MajorDutch
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MajorDutch
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+150 making headway deep into the 1st indecision zone, hopefully we can break through.
MajorDutch
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exited trade for +95 pips so a little over 3:1 RR. Friday's daily bar closed as a pin against my trade so I deemed now was the time to take profits off the table.
Johnkarner
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move to table entry 5m. search for prices to break [email protected] and first short track. nice stops and tight. That's how we roll mofo.
MajorDutch
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bwah ha ha! I am surprised nobody had a pop at me for an earlier post saying I only look at trades where I can get 20:1 RR, twas complete bollox obviously just seeing if anyone would bite. Happy with my 3:1 for this trade. When you take profit price always seems to then go on to make your more pips if you had stayed in. this is the market treating us like a bitch!
glyder
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Hi Sh,
Good trading
. I was in too,now wondering whether this is my entry signal for a long.Maybe long term too.
I'm not convinced. I expected a deeper pullback.
But I learnt to trade what I see not what I think or hope, so entry above the daily pin there. See if it bites.
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MajorDutch
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Hi Sh,
Good trading
now wondering whether this is my entry signal for a long.Maybe long term too.
I'm not convinced. I expected a deeper pullback.
But I learnt to trade what I see not what I think or hope, so entry above the daily pin there. See if it bites.
Hi Glyder, I am not convinced by Friday's pin, not enough confluence for me but it was enough to cause me to get out of my trade. I only normally trade a daily pin if it is an A+ set up and these are fairly rare depending on how man instruments you look at. I am a scalper at heart as I find this fits best with my psychology. I like to be in and out of the market at least 10 times per trading session.
MajorDutch
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my +95 is looking lulz now. Price just hit my original target of 1.05 for +450 pips. 30:1 RR for anyone who stayed in.
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MajorDutch
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you should check out Traders Links at The James 16 Group
watch all the videos. They refer to 'price indecision' areas as 'first trouble areas' or FTAs. you will be amazed at the accuracy on the longer t/f's
