Hi friends, It is 10 days that I am trading FX and it doesn't look so bad, is that normal or I am just lucky? I am more a bund trader, and it looks to me that FX trading is very easy, and technicals work very well. Any similar experience or view will help.Or if you are a senior FX trader you might help me to understand if I am right saying that. All the best
I hear this suggestion over and over again. Though I don't always take it myself. Trade forex futures on globex instead of trading on FX bucket shops. Predicting the future when it comes to FX is just as difficult as predicting the future of anything else I guess.
You might be really lucky, impossible to say for sure without understanding your technique. However fwiw, I found Fx more simple than ER2, YM or ES and my technique carried over perfectly - didn't even have to adjust my charts. Assuming you are successful on the Bund, then congratulations, you've paid your dues and now it's time to collect big time. Enjoy!
It seems you are doing well. I definetly wouldnt consider myself to be a senior fx trader though..lol. But i know alot of bund traders that try to get me to switch over, aswell I know a few that switched to FX Futures and will never go back. Out of curiosity, what time frame are you generally working on? What pair(s) are you trading? What type of approach are you using? If your, for example, trading the spot, and you were looking at the cable the last 10 days, I would say your doing very well. After the large momentum, on the daily charts, hit a temp peak, the reversal is coming down but not very fast. Were not seeing as much daily pip range as we were working with for the last month, in the last 10 days anyway (directional bias against the macrotrend i assume). Alot of quick bursts of directional movement, and flatter euro and jap sessions. So in that case, you are doing well and I would expect for you too do even better with higher daily ranges, if your trading intraday/scalping. IMO. - secXces
I am trading 1 to 5 min, and trying to see the momentum pause in the market, I mainly trade EUR/USD and tend to stay in the trend, I only decide to sell when a bullish news in a bullish market doesn't move the market higher. I try to see where are the accelerations level in the market, try to understand how much pain there is by the amplitude of the move and initiate positions accordingly, you can see my trades in the attachment
Yeah, I would IMO say your doing rather well. Unless your strategy doesn't work well in higher volatile, more trending markets then I would say stick with it man. I trade in a similar fashion. I usually working of of 1/5 Min, sometimes 30/5 Min. I usually looking for what I refer to as inaccurate pullbacks or pockets of slowing/speeding momentum. As I have said before, similar to a mean reversion technique. Not quite though. I do fairly well. +67 pips cable, -13 euro, +12 loonie, all yesterday. I usually focus on the cable more then any other pair. I assume I just feel more comfortable with it. didn't trade today unfortunately. Technical errors with hardware/software. Something to do with the upgrades I did last night, for windows, maybe the firewall. I have my IT guy here now. I dont feel comfortable on my backup comp. OK off track, anyways, hopefully we here more from ya. There isn't to many fx enthusiast on here. lol. Not to often anyways. Best of Luck, - secXces Luck = skill+training+hardwork meets opportunity(or good markets..lol) (Always worked for me...lol)