I am new here on Baby Pips. What a great site! I'd like to share my trading ideas and experience with you guys. I will begin to actively post here daily. As well as my posts I also will be recording my trading sessions so that you can see what I am thinking and doing in real time. You can view my recorded sessions here:
You can also watch live as well on livestream or at my site Turtle Forex | Live Forex Day Trading. I am usually at my desk between 6:00 and 6:30 AM EST. I also trade the Asian session from time to time as well. My site is not a commercial site, there is no sign-ups or fees. It's just something I put together to share trading ideas in real-time. Maybe down the road if there is enough interest I'll host webinars to share ideas.
My trading style is to scalp 10-20-30 pips or whatever the market is giving me. Today I had 3 winners and 1 loosing trade. If you get a chance, check out the video.
I'm really looking forward to contributing to Baby Pips. I have traded stocks, index futures and spot forex off and on for over 10 years and now trade just forex. I feel sometime that I am a better coach than a player so I am looking forward to sharing my experiences with all of you.
I took another shot at the EUR/JPY as I am bullish EUR and bearish JPY and had good success with this pair Thursday. Friday I was not as fortunate, taking two shots for losses of 15.4 and 16.3 pips respectively. A slightly weaker than expected U Mich confidence report (personally was expecting better as well) and some profit taking in the equity market kept a lid on further EUR advance. I was a little tighter with my stops, wanting to trade conservative as I came into Friday +80 pips for the week and was in "protection mode". If you were in the Live Trading Room, you know that I was expecting some late day bargain hunting on equities that I felt would ultimately push the EUR higher to close out the week and sure enough that's what we got. However by that time I was out of the market. I did end the week with a winning trade, a USD/CHF short that was a marathon trade that I held till just about 4:00PM EST. I wanted to hold till just before 5:00 (17:00 GMT), but was tired and did'nt want to risk the miniscule 6.7 pips I was up on that trade. Holding out for 1 more hour would have rewarded me with 20 or so more pips....hehehe.
The first week of live trading in the Turtle Forex Live Trading Room netted 62.1 pips and 4% on the Model Account. I had a total of 14 trades with 9 winning trades and 4 loosing trades on the week. Results for this week are posted on the "Model Account" page at TurtleForex.com. I set up this hypothetical Model Account with a starting balance of $2000.00 USD which trades a single 10K lot per trade (about 5:1 leverage) and risks about 1% per trade (around 20-25 pips).
I have to admit I really had a good time with the couple of viewers that joined me this week doing this live "show". I didn't know if I would be nervous or feel pressure to win. Surprisingly I was very comfortable and although I wanted to end the week on a high note I had no problem taking my losses and look forward to next weeks opportunities.
Join me Monday-Friday in the Turtle Forex Live Trading Room for live trading, market commentary, some music and even some of my "rants"....hehehehe. Have a great weekend!
Short GBP/USD @ 1.5821 cover 1.5799 +22 pips
Short USD/CHF @ .91386 cover .91464 -7.8 pips
With no news due out and an apprehensive market, price action during the US morning session was not that good. Had what looked like a good entry on the USD/CHF, but could not get any follow thru. The trade moved 4-5 pips in my direction right off the start but that was it. My plan was to get out quick if price did not move my way so that is what I did. USD/CHF has since inched up another 10 or so pips with the equity market doing next to nothing after gapping up a bit this morning.
Join me Monday-Friday from 7:00AM-12:00PM for live trading and commentary at TurtleForex.com
I watched some of your live trades today. You did pretty well. I was trading the EUR/USD. Not much movement...but I made 11pips. I'll try and join and chat with you. I see you're a scalper; I like scalping but I also like day trading. Do you trade any after 12?
I'm in front of a PC 12-14 hrs a day, so if I see something that looks good might jump in after 12:00. I'm "live" until noon in the Trading Room. After that I'll post on the chat in the trading room with screenshots. Sometimes I'll put a trade or two on during the Asian session. In fact I got short USD/CHF about an hour ago. Looking for 12-15 pips on that one. But right now its like watching paint dry. The 30 minute chart looks like a 5 minute chart!...;-)
I post on this thread just before I go live so if your subscribed to the thread you'll get an email.