Six Steps to Better Trading

Discussion in 'Trading' started by Joe Ross, Oct 30, 2009.

  1. Ah, but some of us are capable of multi-tasking, we can trade and post at the same time! :)



    [​IMG]
     
    #51     Nov 2, 2009
  2. I'm an old man; you slow down when you get old.

    Just curious, how much does .04 ticks in NZD/JPY make and how much does .07 ticks in AUD/USD make? I've traded futures on the Yen and Euro but never studed/traded pairs.
     
    #52     Nov 2, 2009
  3. lol, I'm old too according to my kids!

    One pip, trading one standard 100k 'lot' spot, on NZD/JPY is around 11 bucks and on AUD/USD 10 bucks. Scale that up by the whale I am and I should be a billionaire by lunch time! :)

    Just kidding of course but I seem to do ok despite all the smoke and mirrors, truth be known I'm not that great at this stuff!
     
    #53     Nov 2, 2009
  4. really great tips, thanks for posting!
     
    #54     Nov 2, 2009
  5. You must of "hit" it just AFTER I got filled !!

    Just caught your comment (told you I'm slow) about the MA. Actually I don't really see those lines on the chart; same thing for the RSI. They're there and I suppose my sub-concious sees them but I'm not aware of them for the most part. Still, the trade was triggered several bars before the cross-over.

    I expect that we will bounce around the 1025-1035 range for 3 or 4 bars now. Look to fade the the trend at those levels with 2-3 pt. stops.
     
    #55     Nov 2, 2009

  6. Well, what happened to the trade?
     
    #56     Nov 2, 2009
  7. It hit my stop at 1035.0. I might have been the only fill; it never traded @ 1035.25 before hitting the double bottom at 1026.0. Good trade; I see 2-4 trader trick entries a week on the 7.5 pt. range bar during RTH.
     
    #57     Nov 2, 2009
  8. Sounds like you might want to review your stop if you're getting stopped out right before a move in your direction, no?

    Anyway, good luck and good trading!
     
    #58     Nov 3, 2009
  9. [​IMG]

    It is fun to watch what the "herd" is looking at.
     
    #59     Nov 3, 2009
  10. lol, the 'herd' lose apparently, but contrary to popular belief doing the opposite won't make you profitable either!

    In any event I doubt very much they're looking at one of your $50 snake oil indicators! :D
     
    #60     Nov 3, 2009