What are the signals that get you in and out of a trade?..I like pitch forks. Would you be willing to post some kind of pnl screen shots?
the basic reason to trade is price action, if you want to learn it go over the first 135 pages of this thread, take a program like prorealtime.com and go over 5 min charts and look where CF entered and exited, it's the best way to learn
Sudden crash and blast off at the same time ...10 minutes ago. Can anyone explain what just happened ??
Actually the thread evolved in a group of people trading pretty different approaches (with some similarities between them, but still) learning from each other... And everyone is welcome to join if he/she is interested in discussing the market and strategies applied to it. As for p&l, I posted trade blotters many times in this thread. But don't like when someone looks in my pocket thats's why always black out $$ related numbers, because it's irrelevant to the discussion of trading techniques. In FOREX if you can do it, you can do it with literally any size you want these days (unlike stock scalping for example), so actual trade size is not an indicator of trader's success as a trader (speaking of professional qualities only). I've known complete suckers who opened several 7 figures positions at once and looked like "big guys" only to blow up soon after...
Good morning CF, had hoped for some more action this morning, but it seems that's not the case ... had a nice day after FOMC: made nearly as much in the next 40 minutes as in an average day my advice for someone trying to learn this: follow what CF and Yoohoo does closely, it's not exactly the same in total detail but they follow the same general principals very close, it works ... I myself am doing a version that's something in between what they both are doing.
Thanks cvds! Actually, the exact method is always fine tuned by every trader to suit his/her personality. But the base of all are multi-timeframe analysis of PA and use of indicators (whichever who prefers - Will uses MACD for example)...
Morning all. Seems there is still upside pressure on the 4HR. On PPs we have been holding half way between PP and R1 so I'm keeping an eye out for possible correction before entering a long. Any other thoughts on possible game plan for today's European session?