Hello fellow fx traders. I have been trading forex for 3.5 years. I am an intra day technical trader using fundamentals for long term outlook of my trading. I use support/resistance, fibonacci and simple moving averages for entry and exits of my trades. I trade live and demo. I trade aggresively, using 5-7.5% of account for lots per trade. (I don't recommend that for everyone! 1-2% is safer) My fulltime job is I own a mortgage company and manage another one both specializing in private money real property financing. I have been doing that for 18 years. Trading forex came easy to me, however, controlling me while trading forex has been a battle. Currently working on patience. I believe every trader has a personal trading weakness that is a constant battle to overcome. And for the record, self discipline was a bitch to conquer and it still raises it's head from time to time. What I appreciate most about Ivan's thread is getting different view points on how others trade and that there is many ways of making good trades consistently. Happy Pip Hunting!!!
Oook....stopped out at break even due to early market insanity. Though I see a re-enter, I think with all that's going on LEH-wise, I'll just sit quiet this Monday.
I am assuming due to the lack of posts on the thread, there is a lot of us on the sideline or taking our butt whoopin in private. I am currently short eur/usd@ 1.4285 stop@4300 target@4125 (If anyone knows how to post marketscope charts, let me know.) stop adjusted to 4250. adjusting stop every 20 pips down. keepinig it tight due to the uncertainty of the day.
I took today off. No way in hell I'm doing anything until this subsides. Well, anything except collecting interest on existing positions.
Rather weird but I've been short USD/HKD since a week ago. Also short the yen. If you look at the H1, there actually is a good breakout trade coming along. Looking for shorting opportunities in the euro and pound as well. I get my directional bias from the daily with Chick Goslin's methodology.
Hi, I'm a complete newbie trying to understand the markets. I'm not hoping to make a living out of it and I don't have the time to daytrade so I would be more of a swing trader. I have a demo account with 10k and use a 1:100 leverage (although I hardly needed since I'm not worry about the total amount) and I have used it for a few weeks now. A couple of trades per day but I can only stay afloat... I'm surprised at how difficult it's _not_ to lose your money. My strategy is the simplest: If it goes down, sell. If it goes up, buy. Trying to use common sense of course (I like to read the news). I figured there would be some movement yesterday so I made a few trades in the morning (europe time) and got some pips before the reversal, then again, I saw a strong trend at night and decided to bet on anything I could, to see how things work out... this are my positions (12 hours later): gbpusd buy: -92 pips (profit) eurusd buy: -54 pips audusd sell : 208 pips euraud buy : 425 pips usdchf sell : 58 pips gbpchf sell : 195 pips eurchf sell : 106 pips usdjpy sell : 105 pips I was pretty sure people would run away of the usd... what do you need for that, another interest rate cut? For the rest... I supposed people prefer safe currencies at time of uncertainty... it seems like it's true... I will close the positions soon since I don't think I can learn anything else out of it... Could some people elaborate on what happened yesterday? I would love to hear some explanations.