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[ChocolateDigestive]

its good trading so far chocyd,very impressive and all called on time.im looking forward to see you continuing like this.

will see how it goes, pride comes before a fall.

 

[Lord Flasheart]

for these trades I am trading chump change on IG index. its just a little bit of fun for me while i am saving up a $50k bank roll at which point my instrument of choice is likely to be US stocks.

I don't trade full time so don't have a daily target, some days I don't trade at all i run my own investment business but not trading related. I am still doing my research 5 years in now. If I were to trade spot FX for a living I would probably pitch for 100 pips per week broken down into daily target.

Manipulation is rife in all markets I have researched and spot FX is no exception after a lot of screen time you can see many of these plays.

Internalization - Wikipedia, the free encyclopedia

trade with tight stops at your peril.

you use IG without a stop and go for 5 pips,I just cant see that working over time.Hopefully you will prove me worng

 

[ChocolateDigestive]

Spread betting companies can be troublesome you just have to not give them the opportunity to shaft you. stay out of news, keep stops wide. IG's spread on eur usd varies between 0.7 & 2.0 pips random cycling, it's all funny numbers at the end of the day. When you are up in a trade you will see it at 2.0 pips more than not. Quite often I trade with an emergency 50 pip SL, I have no intention of ever letting it run that far have no wish to reveal my hand by placing a further stop. Sometimes the platform will freeze or crash when you are up in a trade, never happens when you are down. slippage is never in your favour, never. If I was going to trade forex for a living I would go with DMA broker, you can make a profit with a spread better but you have to be wise to their games, its a negative sum game.

 

[ChocolateDigestive]

you use IG without a stop and go for 5 pips,I just cant see that working over time.Hopefully you will prove me worng

no I always have a stop, rarely smaller than 20 pips however I am unlikely to let a trade hit a stop I will be out before that.

 

[ChocolateDigestive]

you use IG without a stop and go for 5 pips,I just cant see that working over time.Hopefully you will prove me worng

that last trade was a quick hitter for +5, normally I wouldn't place a trade unless I could see at least 8-10 pips profit in it, of course I may close for less depending on what happens.

 

[ChocolateDigestive]

I am quite interested in shorting the eurusd if price falls below 1.3026, depending on the action. will post if i take a trade.

 

[VielGeld]

Time to rev up for Eur/Jpy.

I'm going to take a leaf out of your book, Your Excellency ChocolateDiuretic the 1st, and see if I can restrain myself to only the trades I am certain will work out.

 

[ChocolateDigestive]

Time to rev up for Eur/Jpy.

I'm going to take a leaf out of your book, Your Excellency ChocolateDiuretic the 1st, and see if I can restrain myself to only the trades I am certain will work out.

lol. I pulled up the E/J chart and boy does it look ugly, chop chop chop. good luck to you anyway. eurusd is looking bearish but I am waiting for it to tip it's hand.

 

[ChocolateDigestive]

short entered 1.3026 20 pip SL shooting for 10 but will see how we go.

 

[ChocolateDigestive]

lol IG index froze for a full minute and filled me at 1.3027.

 

[VielGeld]

Yerp, very ugly. Price seems to be drifting up right now, so I'm expecting it to meet resistance at the 20. It could sell off down to the 00 with targets at 10 and 05 in-between. If it keeps going up, I'll be looking at the 30 and 40 especially.

At least there's some news in an hour to keep things interesting.

Good luck to you too. The E/U does seem like it could fall off anytime.

 

[VielGeld]

Short 109.15.

I hope to god this sells off, lol.

 

[ChocolateDigestive]

short entered 1.3026 20 pip SL shooting for 10 but will see how we go.

taking some heat, looks like the bigger players wanted a few more stops before moving down lol.

 

[VielGeld]

-5

I am dolt. 'twas a pullback in an uptrend.

 

[ChocolateDigestive]

Short 109.15.

I hope to god this sells off, lol.

why are you selling into a strong uptrend it will end in tears

 

[VielGeld]

I know, right? There was a 5 pip instant sell-off there that made me think it was about to reverse. Turns out this wasn't the right idea.

Long 109.233

Seems like it's about to go up again.

 

[ChocolateDigestive]

I know, right? There was a 5 pip instant sell-off there that made me think it was about to reverse. Turns out this wasn't the right idea.

Long 109.233

Seems like it's about to go up again.

don't trade reversals mate. from what I have seen only the trading elite trade reversals.

look at eurusd, if anyone thinks this is market isn't 'manipulated' check out that price action on the 5min, I will post a chart in a mo.

 

[VielGeld]

+1.5

Sellers way too strong up there.

 

[ChocolateDigestive]

see chart attached. larger player is accumulating their position through red arrow in narrow channel trying to hide which side they are on. successive swings 1 through 5 collect stops of smaller traders playing the range with tight stops. Whenever you see these manipulation patterns you must not use tight stops. larger players are manipulating this lower.

 

[VielGeld]

Good stuff, CD. I did tell myself sellers were particularly aggressive back there, and what'd'ya know? E/J's selling off now.

Hmm... So maybe my initial short was a premonition, but simply mistimed the execution.

Just goes to show how this game ain't obvious!