do you trade Uro $4's?

Discussion in 'Trading' started by chipmunk, Nov 13, 2008.

  1. I have been demo trading it for the past 4 days. -$2,000 :)

    How has the Euro $$ been acting this past 4 days? Normal? Choppy, good? If you say good then I am trading it very bad.

    I can't determine how best to trade it? Longer term or scalp it. Either way I seem to lose $$$'s

    any help?
  2. All markets go where they go, all markets are good every day, some of the time. It all depends on how you look at it, what timeframe you are using etc.

    You need to apply a technique that works for you in the market.

    I don't know what you define as longer term trading, but these days, I personally wouldn't consider swing trading. With the volatility in just about every market, i only trade short term.

    I also wouldn't recommend scalping unless you have a lot of contracts to trade, and since you are new, you don't have that.
    It will work a couple of times, and then one trade against you and all your profits are wiped out.

    So keep trying and LEARN by trading. Perhaps pick up a good idea from this site or books, but in the end, you need to find what works for you.

    I am no expert, just speaking of personal experience, but if you keep trying, you may eventually find a way that works for you.

    I did :)
  3. Thanks

    I am looknig at 1 minute and 10 minute charts....

    1 minute seems a bit randon but 10 minute you need big stops in palce and some days no trades...

    Anyhow just made $1,500 (paper) on the 10 minute. But i think that was more luck
  4. It most likely is just luck in the beginning - until it becomes consistent.

    Do you have a plan?

    How many contracts did you trade to make that?
  5. It's FX so no contracts.

    I am demo trading only $250,000 worth of Euro$

    I wouldn't call it luck as I have a method. Simply buying 10 minute break outs.... It wasn't as if I went in random.

    What's your definition of scalping?
  6. I trade the Euro Futures, they give me better fills.

    Scalping is very short term profiting, a few ticks at a time. Or pips in your case.
  7. I was going to ask what are the advantage of futures Euro Vs the Fx market? Maybe another thread?

    A few pips........I can't see how this is going to be possible? The marekt moves fast at times.....

    What time frame do scalpers trade on?
  8. Start a new thread for that and see what different traders say. I prefer futures because of the fill price is better i think.

    I would say scalping works best with large contract size ( to reduce number of trades) (example for futures).

    1 contract @ 2 ticks = $25
    10 contracts @ 2 ticks = $250

    Simple equation, but what i am trying to say here, is don't overleverage yourself. It seems easy to profit, but is not. Start easy. Remember it goes both ways, losses accumulate quicker than profits sometimes.

    I don't scalp, but i guess they use shortterm timeframes.
  9. Ok so what do you define as a short term time frame?
  10. Well it depends on your entries, but you are using minute charts now, switch to tick charts and you have much more control over the timeframe as volume is built into the chart and you can define how fast it should be, experiment with that.
    #10     Nov 13, 2008