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

Nice. And It dropped a lot more since!
Fortunately I did not get stopped out my other trades.
Short Audusd, audcad, nzdusd and long usdcad

 

I used to get stopped out a lot and I realised that a more generous SL works better for me usually. Just depends on the amount your willing to risk.

Good luck with your AUD shorts.

 

Pepperstone just pulled a bucket shop move and the MT5 servers went down for almost an hour as the market started moving fast.
I haven't seen this type of thing in FX since the pre GFC days.
Most Crypto exchanges were doing often which is why I stopped trading anything crypto years ago.


...Came back for a few mins and now dead again.
IC Markets still ok, but this is the end of my Pepperstone account.

 

That sucks. I left them months ago when the leverage changed. Hope any open trades you may have had weren't negatively affected..

 

Sold the crypto10 imdex on a fairly tight stop.
It's about 60/40 chance I reckon.

 

Trading has been been good for the year so far.
I spread accross 3 brokers Oanda (started with them almost 20yrs ago), Peppersone and IC Markets atm.
All 3 running pretty much the same trades/system though not all the same entries.

Today I realised that Oanda has a performance thingy, a pleasant surprise.

The hardest part of this trading stuff is trying not to spend every minute looking at the screen as if the result is going to be any different if I'm watching or not.
But nature just seems to make us that way.
Often I need to do anything to keep myself from looking at charts.
And that often includes bantering on these forums.

 

Entered 4 lots short @ 109.861. Tight SL.

 

Entered long 4 lots.

 

I've been building a long position on the USDCAD over the last week.
This one may require some patience.

re Oanda, as much as it is a semi bucket shop I still think it's the best and most verstile interface and the easiest place for people starting off.

As for trading options, the Au markets is very illiquid and CMC sux. Often it takes many minutes for an order to appear on the market if it's not rejected.
Not many choices though.

 

Hate CMC tbh.

re USD/CAD, I thought its entering a very interesting zone of support when you look back. When I saw the daily pinpar few days ago, I just couldn't resist the low risk trade (imo).

 

Long Gold
manually trailing stop along 200 day VWAP

estimate 3-9mth trade, target 161.8% Fib extension

only been playing around with small positions for 12mths

 

I was talking to my friend about gold who trades as well. I pointed out a double bottom with some strong bullish divergence on the RSI. I didn't enter a long position because I was too invested in other trades. He entered long on 2 lots at around 1728 and is still riding it.

 

Short 3 lots.

 

I've been short a few days EurJPY and GPBUSD, small amount though holding out on the daily charts for a big move down.


Bullish USDCAD and EURGPB but on the latter I just been taking profits as it bounces around what could be a bottom. Even got a short in. Then long again.
These days I don't trade big trends with one trade, the market is way too jittery. Most big traders I've read about don't either it seems.
If there is a nice TA low "support", I put a buy underneath it and it gets filled most times.

 

@Piston_Broke our usd/cad may take off soon.

 

Hopefully. I'm targeting the 1.24 area for and will be closing trades on the way up.
FX markets are so much more choppy than they were 10-15yrs ago. All this instant news hysteria seems a bit crazy. And all these standard TAers are getting fleeced.

I'm still trading fairly small with a 5 figure acct slowly building it up.
I don't think more than 5% of net wealth should ever be used in this type of venture.

My small Oanda acct is also doing well, although this account only trades what I would call the very high probability trades. Still looks good. The "performance" is on margin, not capital.
These stats are only since the new ASIC rules. Previous pic didn't have them and there were not enough trades for it to be of any use.



On the options side I'm opening an account with Interactive Brokers and seeing if it's any better than what I'm using.
The local banks going through CMC are just terrible.
HIgh fees, slow execution, and I suspect that market makers or cmc are frontrunning orders.

 

Your RR is looking healthy mate, I like it. I too am very selective about the trades I take there days. They have to be the best low risk high reward set-ups or I pass. It's definitely worth waiting for them. Less trading but higher prob set-ups when taken (so fewer) is usually always better.

What platform are you using OANDA on? Tradingview?

 

I have 2 other bigger accounts that I trade what I would call my main systems.
They trade smaller, more often, win more and lose more.
Years ago I had the idea of starting a new "spill over" account only for the very high probability trades. It trades with a bit more risk and a lot less often.
Just seems easier to do it with different accounts for me.
And often I only know how good or bad a trade is after I entered. I often trade, then look at the screen a few mins later and think "WTF did i do that for!?" lol.
My analysis seems to be much better when I put money on the table and have got skin in the game.

I use Oanda desktop. Been using it for 20yrs. Simple easy no fancy stuff.

 

Woke up tis morning, and unlike the blues or country song, I found my account up 10%.
Now I can add more funds. Only add funds to a growing account.
Not waiting for 1.24, closed a 1.229. Boom boom



Still short gpb/usd, E/J, Aud/Usd. Small trades though long timeframe, small profit, still makes me me anxious. The FOMO is real.

 

Nice!! Well done mate. Also agree with you re adding funds to growing account. I have milestones and when they are hit, I 'allow' myself to add a percentage of my account in.

I started this account with just over 45k and over the last....6 years I've managed to grow it substantially in the 6 figures.

I now only take very high probability set-ups which I've traded thousands of times. And I scale in as it goes my way. My SL is tight but my strategy allows for that because if it's going to go my way, all I need is a 1 candle SL.

Doesn't seem like many on PC trade currency.

BTW I love watching Linda Raschke trade.