Forex Trader's Corner - FX, Futures, Indexes, Commodities

Haven't done much trading last few years, but now getting back into the fray.

Anyone else here into trading? Post your trades.

Anyone traded the double bottom on the ASX 200 yesterday?

 

A few more trades. Short on AU/NZ

And i even bought bitcoin.


Still long asx200. Main trend is down but got a buy signal, target is around 6000, but ho knows. That's the fun.

 

Closed out ASX200 for 34pts profit.
Stopped out of AU/NZ.
BTC going very slow atm

 

No
But I am going to watch you

 

I'm shorting USDJPY on the 4H. Its gonna explode one way. Symmetrical triangle formation.

 

Im more into trading Bitcoin, Gold, ASX but also considering trading FX.

BTCUSD Daily grinding the 21EMA

 

More into bitcoins, Gold & ASX.

BTCUSD Daily grinding the 21e

 

Thanks mate.

 

How’s trading going?
Just curious..... is it working for you

 

The short answer is so far my edge is making me profitable however I'd like at least 12 to 18 months of consistency before I'll feel I've reached any milestone.

I can say it's honestly one of the most challenging things I've ever undertaken on a few levels. No wonder the long term success rate is less than 1 in 10.

It really does take a massive commitment in order to have any chance of being successful long term.

 

Apparently Engineers make good traders

 

Heard that too.

I think anyone who can really master their emotions and not let them take over will be miles ahead of others. May sound simple but it's extremely difficult for most.

 

My besties husband did this, been trading full time for at least 20 years now, has paid off. He was an engineer, we always joke about this

I know its not for me, like you said got to master your emotions, that could never happen

 

Know thyself.

Wise.

 

Good to see you here Sackie.
That was a nice run down you caught!.

I'm got a small long on a 2min chart looking to catch a small run back up with a very tight stop.

I hope so...


One of the hardest things I think is trading like it doesn't matter.
In FX my default trade is 0.5% of NAV @ 50:1 leverage. I just make small trades and take a bit here and there. Not swinging for the fences.
Make a few bux, lose a few bux no big deal.
And I no longer hold over night for indexes and weekends for FX.

It just seems to go against human nature. Gotta be emotionless.

 

They do. My father in law was Israile civil engineer. Retired from own building company. Trading in his 70s. Big positions and consistently pulled out numbers like 60 or 70k. Absolutely bloodless iron Israeli discipline. So yes I think it's true. Engineers always have a plan ;-)

 

There was good opportunity for a quick counter long trade which I think you caught. I kept adding to my position ( each red line is an add) on shorts and when I was in my full amount I closed the charts until morninhg. I try to keep my psychology out of it as much as possible and I've found the best way is to simply not watch if you don't need to. Look at the retracement it made before going back down... would make most exit their positions if watching or at the very least be extremely nervous. As you well stated, need to remain as emotionless as possible. I was fast asleep for all that in the back of my mind I'm thinking the big money could still massively reverse the position to the upside but I've chosen my bias for now. Usually I've found you gotta go through a massive amount of pain and survive it before they'll allow you to profit from a big move , which I anticipate this pattern will eventually play out.




How did your 2m chart counter trade go?

 

Got in at .38, stopped out at .44
I put in the stop and went to bed.


Many years ago I used to trade FX very small on daily charts. What I have realised is that every 5 or so years the markets will go through a big shake up. Every 2yrs at least a minor shake up.
When a system has been working too good for a year (yes there is such a thing) I start getting very defensive.
We've just gone through a med size shake out so things may be relatively stable for 6 mths.

 

This is where I predict price will end up approx., depending which way it ultimately breaks, So far it looks to the downside but that could change fast,