Joe_Ng:
Regarding money management. My advise would be , be realistic. Knowing forex market is highly volatile. Trade might go your way or against you. To get started. I would suggest, think of how much you are willing to lose in percentage for the money that you have invested.
For example, it can be 1% to 5% of loses acceptable per month. With this in mind. You would have to calculate how much you should invest per trade. Also everyone knows that breakout strategy is a good strategy. Problem is, breakout does not happen all the time. Able to recognise what kind of market are you in is vital.
I personally like mastergunner thread on swing trading. I felt his methodology is good and realistic. As for me . my trading is based on strong S&R lines. And I take trades moving to the S&R lines and not from the S&r lines. For me a strong s&r lines must have minimum 3 points.
Joe
I like trading too in S/R lines. I usually looking at the S/R lines if it breaks i go with the trend. Do you also go with the trend? or trade near S/R lines to make profit? kindly advise.
Joe_Ng:
Regarding money management. My advise would be , be realistic. Knowing forex market is highly volatile. Trade might go your way or against you. To get started. I would suggest, think of how much you are willing to lose in percentage for the money that you have invested.
For example, it can be 1% to 5% of loses acceptable per month. With this in mind. You would have to calculate how much you should invest per trade. Also everyone knows that breakout strategy is a good strategy. Problem is, breakout does not happen all the time. Able to recognise what kind of market are you in is vital.
I personally like mastergunner thread on swing trading. I felt his methodology is good and realistic. As for me . my trading is based on strong S&R lines. And I take trades moving to the S&R lines and not from the S&r lines. For me a strong s&r lines must have minimum 3 points.
Joe
Ok, i was rereading your thread, you mean strong S/R line have min 3 points above and below right?
Is hard to explain without a chart. Babypips school explains well. I don’t take 2 points. Only 3 points and above. I look at the trend. I use daily tf to trade only and I look at 28 pairs fx currency. This is how i do. I look at 28 pairs , I look at where the price is and what it is current trend to its bigger trend. I would only trade if the price is in-between two strong S&R. And I go with the trend towards the s&r. NEver on the s&r lines.
Yes . mastergunner99. I was talking about this thread created by him. I like most of his idea . learnt a two from him.
Here is the link
http://forums.babypips.com/show-me-the-money-swing-trading-/50672-forex-portfolio-how-gain-consistent-profits-staying-market-24-7-a.html
Joe_Ng:
Regarding money management. My advise would be , be realistic. Knowing forex market is highly volatile. Trade might go your way or against you. To get started. I would suggest, think of how much you are willing to lose in percentage for the money that you have invested.
For example, it can be 1% to 5% of loses acceptable per month. With this in mind. You would have to calculate how much you should invest per trade. Also everyone knows that breakout strategy is a good strategy. Problem is, breakout does not happen all the time. Able to recognise what kind of market are you in is vital.
I personally like mastergunner thread on swing trading. I felt his methodology is good and realistic. As for me . my trading is based on strong S&R lines. And I take trades moving to the S&R lines and not from the S&r lines. For me a strong s&r lines must have minimum 3 points.
Joe
Joe, i felt relieve when i saw one of the thread of MG99, while i was watching it i saw a volatility in AUD/USD i just hop on and set target price to 0.7525, i think a decent 200 SL would be prefer
Joe_Ng:
Is hard to explain without a chart. Babypips school explains well. I don’t take 2 points. Only 3 points and above. I look at the trend. I use daily tf to trade only and I look at 28 pairs fx currency. This is how i do. I look at 28 pairs , I look at where the price is and what it is current trend to its bigger trend. I would only trade if the price is in-between two strong S&R. And I go with the trend towards the s&r. NEver on the s&r lines.
Thats awesome, how come i’ve never tried this before going towards the S & R, maybe 10 pips before hit s the S/R right?
let me try this method on the Euro market i will post results bro, thats the most simple strategy ive ever heard
I have removed all my indicators and ATR(20)
GBP/USD setup Long @1.4537 (setup approaching R2)
R3=1.4554
Is just a method I am using currently. Trying to test it out and record . so there is no such thing as a 10pips to s&r set in my rules. I based it on money management essentially to set SL & maybe TP . You would have to check and record it and see what you can get out from it.
I hope EUR/USD is developing
I am a person that is happy already with 5,6 or 7 pips win
Bro, I think its better also to wait atleast few minutes to develop the high and low, can?
While i was observing EJ going up i was attempting to setup 123.06 TP:123.13 and it just hit, this is a brilliance of pure money
set up EUR/GBP long @0.7929 @0.7941 ~0.7936
Ying17
May 5, 2016, 4:54am
100
Hi Joe,
I’m having a loss in EJ its seems to be the personal of this pair is different
Ying17
May 5, 2016, 5:43am
101
NZD/USD short @ 0.6870[email protected]
Ying17
May 5, 2016, 7:28am
102
EUR/USD short @ 1.1415@1.1407
Ying17
May 5, 2016, 7:39am
103
GBP/USD short @ 1.4409[email protected]
_bob
May 5, 2016, 8:05am
104
Reckon Mario has.
So just got out of this trade. Exit 1.1433. Bang on New York open. 40+ hrs exposed to the markets for a lousy 80 pips.
Bang straight into a real trade in @ 1.1433 . I’ll be out before I have time to post this. 4 mins vs 40 hrs, much better odds