what do you mean by swing trade? the way i understand you are going in and out frequently for 20, 30, 40 pips? are you just basically looking for a momentum shift and trading the other way once it looks like its petering out?
nice stuff!
what do you mean by swing trade? the way i understand you are going in and out frequently for 20, 30, 40 pips? are you just basically looking for a momentum shift and trading the other way once it looks like its petering out?
Looking for extended moves in the short term where the pair is extended long or short.
It can be nerve wracking but with a pair that moves like this, Ive been able to make some decent gains lately.
I could use more discussion during the trading day, more people involved and more eyes looking at things. I also need a better news source, half the time my FXDD only comments an hour after a move is done, I need faster info..I think Forex.com had a good fluid news/rumor update..its probably the only downside to FXDD for me, outside that Ive been very happy.
pop,
Exactly..
Looking for extended moves in the short term where the pair is extended long or short.
It can be nerve wracking but with a pair that moves like this, Ive been able to make some decent gains lately.
I could use more discussion during the trading day, more people involved and more eyes looking at things. I also need a better news source, half the time my FXDD only comments an hour after a move is done, I need faster info..I think Forex.com had a good fluid news/rumor update..its probably the only downside to FXDD for me, outside that Ive been very happy.
just closed out that GBP/USD long for 140 pips... no time to really look at the chart and it looks like its been stuck for the past 3 hours... dont want it to go back down and im happy with the 140, although i had limit set at 175.
wall - i would say i make 1-3 trades per day. i dont like to have too many open trades at a time (max three) so if i have a trade that lasts 3 days, it limits the amount of other trades i can make. but i wouls say average 1-3 per day. i also look for 75-150 pips per trade usually and since i use set SL and Limits on all my trades now i get stopped out every once in a while (just guessing i would say maybe stopped out in 33% of my trades). giving these numbers and just thinking about it, i woud say i average anywhere from 100-500 pips per week. all my trades are for 1 lot right now until i built up the account to where i feel comfortable trading 2 lots which would double the pips.
actually i'm glad you asked this cause it got me thinking that i should really start a trading log. keep trade of all trades, hwo many trades i make, average pips per trade, per week, stuff like that. it's a lot of work, but if you want to be serious about this it could really help and allow you to find some patterns or common mistakes, etc, etc.
just closed out that GBP/USD long for 140 pips... no time to really look at the chart and it looks like its been stuck for the past 3 hours... dont want it to go back down and im happy with the 140, although i had limit set at 175.
wall - i would say i make 1-3 trades per day. i dont like to have too many open trades at a time (max three) so if i have a trade that lasts 3 days, it limits the amount of other trades i can make. but i wouls say average 1-3 per day. i also look for 75-150 pips per trade usually and since i use set SL and Limits on all my trades now i get stopped out every once in a while (just guessing i would say maybe stopped out in 33% of my trades). giving these numbers and just thinking about it, i woud say i average anywhere from 100-500 pips per week. all my trades are for 1 lot right now until i built up the account to where i feel comfortable trading 2 lots which would double the pips.
actually i'm glad you asked this cause it got me thinking that i should really start a trading log. keep trade of all trades, hwo many trades i make, average pips per trade, per week, stuff like that. it's a lot of work, but if you want to be serious about this it could really help and allow you to find some patterns or common mistakes, etc, etc.
that's true about the comments, most are made after the fact and just stating the obvious. forex.com has a pretty good news stream and has some predictions and will usually let you know when major news events are gonna happen, but i can't look at that during the day.
definitely helps with more eyes looking at charts and discussion...i try to pop in and sneak some trades in duing the day when i can. i think buck said he was thinking about doing this full-time...still thinking about it buck??
that's true about the comments, most are made after the fact and just stating the obvious. forex.com has a pretty good news stream and has some predictions and will usually let you know when major news events are gonna happen, but i can't look at that during the day.
definitely helps with more eyes looking at charts and discussion...i try to pop in and sneak some trades in duing the day when i can. i think buck said he was thinking about doing this full-time...still thinking about it buck??
140 pips for a day is hard to beat, the LB is in a longer term bull channel, but on a 1 hr chart it was actually just range trading, probably because the US markets have been soft this week.
If they run the contra-US pairs up into the US open, I might go short for the 10 AM reversal that seems to happen. I think today ends up higher, so long would be my first inclination, but maybe short into the 10AM hour, then long on weakness.
I trade more than 3 times a day, not every day but it seems that way. FXDD sends me an email daily confirmation and I seem to trade MORE, but my losing percentage is low..that probably is a flaw that I am not using stops as I should be..but since Ive started trading practice and real Ive only closed out three losing trades.
Nice trade pop.
140 pips for a day is hard to beat, the LB is in a longer term bull channel, but on a 1 hr chart it was actually just range trading, probably because the US markets have been soft this week.
If they run the contra-US pairs up into the US open, I might go short for the 10 AM reversal that seems to happen. I think today ends up higher, so long would be my first inclination, but maybe short into the 10AM hour, then long on weakness.
I trade more than 3 times a day, not every day but it seems that way. FXDD sends me an email daily confirmation and I seem to trade MORE, but my losing percentage is low..that probably is a flaw that I am not using stops as I should be..but since Ive started trading practice and real Ive only closed out three losing trades.
nice call, looks like weak USD was correct... did you get in on any of the moves around 11-12pm??? think ill just stay out the rest of the day. i dont want to hold anything over the weekend if i dont have too
nice call, looks like weak USD was correct... did you get in on any of the moves around 11-12pm??? think ill just stay out the rest of the day. i dont want to hold anything over the weekend if i dont have too
I got caught SHORT...how stupid, I was just flipping around and the news of Calif came out and took the LB up 100 pips fast..lucky I averaged up and ended up ok when she came back down.
I made a good trade early then got out of the short without damage, so still plus on the day and I think I am done too.
I got caught SHORT...how stupid, I was just flipping around and the news of Calif came out and took the LB up 100 pips fast..lucky I averaged up and ended up ok when she came back down.
I made a good trade early then got out of the short without damage, so still plus on the day and I think I am done too.
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