Evening chaps.
We had 2 positions today but after they failed to push into profit I closed them both at a small loss.
I HAVE A FOLLOWER ON ZULUTRADE! [pats self on back]
Hello, who ever you are!
Hello CH!
I am completely NEW-bee on this pages! I have just finished the school and started to look out for info in this forums. I have read whole of your thread and found you a very serious and reliable trader. That’s why I started to follow you on Zulu (actually I opened an account there just because of you, so there I am also completely new). In the last year I have absorbed a lot of info (books, webinars, blogs, school of pipsology) and now I am trying to learn “better” PA (you have motivated me again) - I found a good forum (in my opinion) on this pages. So far I am not a successful trader (not enough experience I believe), but I WILL be (learning from my own mistakes and from “others” good advice).
Sorry for the mistakes which I could make, but english is not my first language, not even the second :)!!!
Hello Harioc,
Thanks for following and posting!
Your english is great, probably better than mine and I’m english! lol
The babypips school is really second to none. Keep doing the school over and over whilst trading a demo account and you’ll get there.
Feel free to ask any questions and I’ll do my best to answer them.
Thanks again.
PS. nothing today guys.
Markets very mixed, fingers crossed for tomorrow.
Hi again!
So first of all can you explain more the graphs which you are pointing every day, please?
You are mostly intraday or daily trader?
You are using just PA technics or something else too (excluding your experience)?
Why don’t have followers no more?
Thanks and sorry for direct (may be personal) questions!
Hi.
The graphs are from daily fx which you get access to when you have a live account with FXCM. They are speculative sentiment indexes, which is a visual representation of all positions being taken by FXCM retail customers (non hedge funds). It is commonly understood that retail traders/the general public is often wrong about the markets. Because of this they can be used to your advantage (do the opposite). Their reliability largely depends on the timeframe you are trading.
In current market conditions I am a day trader. I have traded intraday before but the markets have been so volatile for the last couple of years that I now only day trade.
I don’t use any indicators what so ever. There is no indicator that is forward looking, only lagging and therefore I don’t find them useful.
I trade price action during the London market. During the ldn market there are pivot points of price action. They are as follows: the London open, the new York open, the London close and half way in between each.
These times are when the majority of global trades are placed. Once you learn to understand trader psychology surrounding these times you will be able to predict future price action.
I only have you following on this account. I had another account with live money and many followers but I have stopped trading on it as the markets have become more and more volitile and I was using it for intra day trading but as said I now only day trade due to market conditions.
As you might be aware, the economy moves in business cycles of around 8.5 years. The last was the financial crisis (2008) and then before that the dot com boom (2000). We are currently beginning the bearish downturn of the end of this latest business cycle. Once this sets in more deeply the stock markets will reduce by as much as 50%, safe haven currencies will strengthen greatly, gold will be extremely bullish etc etc.
At the moment the market is like a large oil tanker turning very slowly, before taking its new direction. As this happens markets are always extremely difficult to predict. As you have probably seen there is huge uncertainty. Hedge funds are having record withdrawals, having multiple losing years and closing all the time.
This will continue to happen until the end if the business cycle is clearer. This clarity will come from something existential like brexit, housing or a stock market crash.
It’s not a question of if, only when. In the mean time it’s more about not losing money than it is about making it.
I hope that helps.
Evening guys.
Two trades today, one break even and one profit.
Evening.
Just one trade today chaps, just closed it in profit.
Afternoon chaps.
Swings and round abouts this week! One up yesterday, one down today.
I may sit out the rest of the week until the EU referendum is over.
