Good trading! If I may be so bold, how did you know to short on the first trade, where price would have to break a previous swing low to be profitable? I would have waited a bar or two, seen price move up and away from that swing low, and gone long. Obv the wrong move, so that's why I'm asking for your wisdom..
thanks...first of all, there are way more profitable and experienced traders than me...SPD, Fireplace, NoDoji and on...for me, I notice a 'tap at the low' at about 4:30am or so, with RTH opening at 8:30am CST, I entered at the very beginning of that blue bar up...I did not bail as thought it would retrace to hit 4:30am low and even further than that as equity markets were open...it looked for sure that it had more downside...that is why I personally did not bail...
a couple questions for all the readers...if you were to solely focus on the Swiss Franc (6S) during RTH... I know a lot of these questions are subjective considering many factors, but, interesting to know: *what is a realistic point 'per day' target as the SF has a 90 point daily range?...10,20,30...50? *would you trade it after 11:30am EST?..I am thinking I should not be trading it after 11:30am EST as volume thins and so does movement Thanks!
*Take what the market gives you, dont force a trade any longer than you need to trying to get a set number of points per day. You caught a respectable chunk of both of those moves down this morning, just keep working on that. Consistency is key, with good trades come good numbers of points, concentrate on the trades. *I, personally, dont like trading anything after 11:30am EST. At 10:30am EST I start getting wary, but will take trades if they set up nicely. It always seems like the afternoon is where I give my money away to strangers. Thats just me though, maybe others can provide some late afternoon trading insight.
Inc, I know nothing about Swiss Francs, but since I enforced a rule not to trade after 11:30am, I don't think I've had a losing day! spd, where are you?? I need you to get on Skype and hold my hand trading CL live. I made $821 simbucks today and as usual IB won't let me transfer them to my live account