Hey IncreaseNow, good questions, here are my answers: 1. EURUSD, USDCHF, USDJPY, GBPUSD, USDCAD, AUDUSD, NZDUSD, AUDNZD, AUDJPY, CHFJPY, EURGBP, EURAUD, EURJPY, EURCAD, GBPCHF, GBPJPY, CADJPY, NZDJPY, EURCHF, CADCHF, AUDCAD, AUDCHF 2. See above, not really sure which pair gives more signals than the others.......if there even is one. 3. The average, at the moment, is just under 12 hours. 4. This just depends on stop placement. For my own $ I risk up to 3%, for others I keep it constant at 0.75% 5. Not sure what you mean, the last drawdown was Nov 20th at -0.58% - I generally don't worry about drawdowns since the maximum risk (the stop) is defined at the beginning. 6. Great question. I generally know if I am going to trade the following EU session at 4:00pm NY time. And then the entries don't come for me until at least 8 hours after that ... generally. My preference is to get into the trade with some push so I can move the stop to B/E as soon as possible.
Hi- Thanks for the advice, TraderZones. I am not quite sure I follow you, though. There was a profit target on the trade, profit target #1 was 77.60, as posted. The move downward allowed me to set my stop at B/E and wait for it to take out the target, which usually happens. I have learned to manage the trades and jump out with something when it looks like a retrace may take out the B/E stop. This took a long time to learn, but I have found it to work well. In this instance the retracement didn't go high enough to touch the B/E stop, so I did exit prematurely. One of the great things about trading is that there are soooooooo many ways to make money. It really is great. I love how different perspectives can be rewarded in the same market, on the same trade, even. It's such a great thing. Happy Trading!
Nagelis- Thanks for your insight. I have found the past 5 months to be the most profitable I have ever seen, ever. In forex. I see what you are saying about correlations. I used to be intensely interested in these sorts of things as I developed neural networks. But now I just trade without all of that stuff and I find it liberating. Again, I think one of the great things about trading is that many different perspectives may be rewarded ... simultaneously. It is such a cool thing. Good Trading to You!
Hi Jander The charts I post are Metatrader charts. These are free on the net. As for accounts, I use many different brokers, broker choice usually doesn't matter unless you are trading an EA (trading robot) or are scalping. I do neither so I am not too fussed about brokers. Cheers FXjake
I look for specific setups, so I have few trades, but they work out alright for me. Watching many pairs helps increase the number of trades (and increase the $ in the accounts faster as well). Thanks for stopping by, increasenow.
Will try to buy the NZDUSD around 0.5090 on the open next week and shoot for a profit target of 0.5200 order to enter: 0.5090 stop: 0.4998 target: 0.5200
This one went well (90 pips up), but didn't quite get to the profit target, so got out around breakeven (+5)