true maybe i will try them lol, but never really held a position for that long before max was a couple of days and averaging 80 pips a day!? ummmmm tell me your secret plz lol
EDIT
for R Carter, did you ever set up the charts from last night? also what kind of SL would be good for a daily chart? id ask the same for a TP but i think they vary alot on daily charts
if you trade daily for say 500 pips but you have to have a smaller lot size then the profit amount would be the same as a larger lot size for fewer pips on a shorter time frame? So maybe on a daily move of 500 pips you would be making the same dollar amount as a 50 pip move on a 15m time frame? (just making up some numbers to illustrate the point) seems like if you are trying to build from small to big it would take longer on the daily. But then it’s easier for those who have a day job.
nice, I had one of those, in a sunburst, traded it on a nice Fender Strat. Ended up selling it though. What little bit of picking I’ve learned is from watching videos on youtube.
Slide is hard stuff. Gotta get that tuning right. Kinda reminds me of me being out of tune slight on the bollingers not being exactly approximate between multiple time frames. Not that I think you don’t know how, but when I tried to do a little slide I didn’t have my guitar tuned correctly.
Point taken… but I find if my trading is based on a larger lot size over a shorter TF chart I’m effectively trading the news not the longer trend direction and can get hit for a supposedly low impact news spike for 50 plus pips out of the blue. Plus whilst in the shorter trade you need to watch the monitors like a hawk.
In my opinion trading the daily allows more time to select a good set up, check what the analysts at your brokers are thinking, etc and a better chance of genuinely trading a trend rather than the news.
Much of the hyped 95% retail losers we hear so much about I suspect are interday traders on short TF charts. If you check with your brokers traders most if not all will be trading 1-3 days or longer. Theres a reason for that.
Damn this treads gone all musical… I play the spoons does that count? :D:D
Sure Beethoven started out on spoons, I heard. hehe No Robert, all jokes aside, believe it or not you actually did inspire me to resume playing guitar. I was thinking back through all the things I’d went through the learning process before with. Also, it’s a good release and brings peace to my thinking, something much needed going through this particular learning process. EDIT: Whoever that person is in your picture reminds me of me when I was 15 playing running back and linebacker in high school. Even have the same dark hair.
long or short time frames, I can see pros and cons to each. I’ve been following the “trend-following” thread and that’s all daily time frame. But the MMTT thread is interesting, it starts out on daily but then trades really short, on the 5m
guitar:
I actually find slide easier, it seems more intuitive to me, everyone’s different. I tried to record something for youtube but have a cheap quality webcam and I’m camera shy anyway
spoons:
that’s ok Robert, my brother says the only thing he can play is the radio and sometimes gets that wrong LOL
The MMTT thread is interesting… In some respects isn’t it very similar to the 2:1 daily bolls method RC & SM use?
Doesn’t the smoothed 2ma of the high & low on the daily print almost the same as the daily 2:1 bolls? I think the only difference would be smoothed vs regular ma type, I’m thinking the high/low ma and the 1-SD on the bolls would be almost the same.
I was wondering when someone else would notice that.
I have noticed when a strategy is “good” most of the trades it shows you are the same or very close to other “good” strategies. I am talking about the actual time and pair, not chart time frame . Makes sense really.
Just remember if you take one or all of these daily TF chart trades make sure you dont risk more than 2-5% of your account on stop loss positions dependant on your risk appetite(combined if multiple trades like I have done).
My SL on EUR/JPY = 91
My SL on GBP/JPY = 65
My SL on CHF/JPY = 60
My SL on GBP/USD = 85
Hmm … odd… nope those are my entry points and all but GBP/USD is now around BE so piad for those large Sunday spreads. Best set up is NZD/JPY last entry thats my five trades all placed… entered at 67.288. All five SL = 5% account bal… what can I say I’m a gambler.
lol dont go gambling all your retirement money away now
ive got a buy limit plaved at 1.4313 on EUR/USD 60 pip target and 30 pip stop so well see what happens, as for another thing i wish i would have shorted all USD currency pairs because i saw the US unemployment claims coming out more then they were last year so would have been great so short anything with USD lol, or long if its the base currency
wait? other way around i think? idk im confusing myself all i know is i missed out on pips :mad: