P
postman
has captain pugwash returned to thread yet (lol)
Havent seen him, but I think I caught a glimps of Seaman Staines.
has captain pugwash returned to thread yet (lol)
Iam in, ive been trading it day charts for a while live, and looking at in intra day demo, along with 4 other markets with a view to trading intraday full time, cant figure out if I would be better with 1 or 4 markets to trade, 5 is too much for me.
Intra day I use 2 time periods, with entry's on a 15m chart, I've traded it live a few times but really iam just forward testing at the moment.
Iam all ears, well eyes actually.
Good Morning Tar,
I hope you are well.
I have traded commodities, metals, and indices in the past using the exact same strategy, yet decided to channel all my efforts on forex, and trade only Cable now, however in my spare time, like over the weekend, as in now, still look at metals, and indices(sad I know, but maybe I'm a trading junkie now).
The reason why I have stuck to forex is because I prefer to trade markets with high volatility/more opportunities during a working day. I'm sure you will agree that forex is the most volatile market, and Cable seems to be not so volatile in the forex grand scheme of things if that makes sense.
Let us take 4 examples of USOil, Cable, Dax and Gold. And now take a simple indicator like the 200EMA(I personally do not use indicators, and without divulging how I trade, and more importantly not wanting to know how you trade, thus I have picked a simple EMA that most know how it works).
Now trading a 200EMA bounce, or break works over all of the above examples, and I'm sure some people out there do use this simple strategy quite successfully, so would it not be a case of succeeding, or failing depends on the persons strategy, execution, and how it is used, rather than the market that is traded.
I look forward to your response.
Best
John.
Hi John,
Why just one market, I understand the thought process, but why did YOU decide just cable?, iam trying to cut down the markets I look at / just trade 1?
AJ
Good morning @Shadowman540,
I hope you are well, and are having a good day trading.
The main reason I've stuck with one market is because I am awful at multi-tasking, and having to thoroughly concentrate on a very small timeframe, means the time between entry seen to £/pip calculated to entry executed may be a 10second window, and I have found looking at other markets which all have a very different flow to them(IMHO) means concentrating on many different levels.
I chose cable is because as far as a currency is concerned it is one of the slow moving ones, thus preferred.
I would like to trade Dax also, but the things I do not like about it are the main move at 7Am is more of a gamble than a trade, as the spread is quite wide, also my broker has a mandatory>5 entry/SL criteria, so getting a desired entry is hard to do. I have e mailed them to ask, and I am awaiting a reply.
As you can appreciate many traders try to look at 10's of different currencies, but for short term scalping where utmost focus and concentration is required IMHO its better to get proficient at trading 1 before expanding and looking at others.
HTH.
Best
John
wow what an attitude from my attitude
Sorry, I'd just spent a whole bunch of time reading Forexmospherian's live call thread which was a load of smoke and mirrors, then finding another dud in this one was annoying.
I'm new to this forum, which are the good threads for live calls?
I'm new to this forum, which are the good threads for live calls?