I am short on USDCAD from a daily pin bar, TP1 has been hit and SL it at BE, I think it could go down another 30-40 pips from where it is at now then I might look for longs.
Hi guys! Howâs trading? been away for quite awhile and didnt have time to be on the forum but trading is still going on for me!
Just wanted to pop up and say hi, hope you guys are doing well!
Wish you all lots of pips at the end of the year!
Jack
I am in the long BUEB currently. I got in at 10616 have a stop below the pin at 10553. I have a split TP one inside the high and the next the same distance again. I can see the point that people were making that is was not a deep enough pull back and the was no room to go but there was room for a with trend 1:1 RR while still being inside of the next resistance level.
I will be honest since this method is new to me I am over thinking my trade but this is how I see it holistically.
It is Christmas and that is maybe a reason for the missing follow through
There were US ppi numbers on Friday so the market needs time to eat the news
Even given the new on friday from the fed reserve of OZ if you look at the performance of the majors on Friday CAD and GBP still stand out as outliers. I donât know why GBP is but I suspect the move in CAD is institutions looking to take advantage of the US PPI numbers and low volumes to do a stop loss shake down.
I will never know and it doesnât matter. The trade is in, the stops are set so I am planning on sticking this out and sticking to the plan. God help us all.
I still donât get why a CT trade off that daliy pin would have made sense.
dont mean to be too nosey.
but are some of you guys totally rich now. ?
its a bit cheeky, but nobody ever lets on how much money they have made by trading.
or maybe if that is too personal. kind gentlemen and ladies, maybe you can let me know if any of you have taken up trading as a full time job. and if it is going well.
thank you.
[QUOTE=âpipwhip;578610â] I am in the long BUEB currently. I got in at 10616 have a stop below the pin at 10553. I have a split TP one inside the high and the next the same distance again. I can see the point that people were making that is was not a deep enough pull back and the was no room to go but there was room for a with trend 1:1 RR while still being inside of the next resistance level. I will be honest since this method is new to me I am over thinking my trade but this is how I see it holistically. It is Christmas and that is maybe a reason for the missing follow through There were US ppi numbers on Friday so the market needs time to eat the news Even given the new on friday from the fed reserve of OZ if you look at the performance of the majors on Friday CAD and GBP still stand out as outliers. I donât know why GBP is but I suspect the move in CAD is institutions looking to take advantage of the US PPI numbers and low volumes to do a stop loss shake down. I will never know and it doesnât matter. The trade is in, the stops are set so I am planning on sticking this out and sticking to the plan. God help us all.[/QUOTE]
Hi
I had similar thoughts that maybe the lack of follow through could be related to the holiday periods. Either way I am in and I am sticking to my plan too.
Marcus
Help!
If pullback did not hit / close to resistance or support but reversal patterns is produced, should we enter the trade or let it go? and how do we determine swing high or low then?
Thanks
Maybe you refer to 1,2,3 continuation pattern, where, in case of uptrend, the price makes a higher low (number 2), which is not close to any support/resistance level, and then breaks the higher high or resistance (number 1), and the opposite in downtrend. In this case I think we should, after the break of the resistance (number 3), wait for retracement of the price in order to confirm the break, and then look for a valid PA entry signal:
When I was a student I thought that being rich was someone who could afford some food as well as a drink in starbucks. If that is what you mean by rich then Iâm not sure its even possible.
no that isnt rich.
what i really mean is to have for example built a pot of say less than 50k to a million dollars plus.
hope that helps
Totally rich? No
Trading for a living? Maybe
One of the most important things in a Trading Plan is âWhat are your goals?â Is 500$/month enough for you?, Maybe your goal is 3,000$/month, or 10,000$ /year, or you just trade to eventually buy some things like clothes or watches⌠After that, you can make a good risk/reward money management plan that helps you to achieve your goals.
I personally think that âbeing richâ is not a realistic goal, specially when we are very amateur traders.
thanks venfith.
thats pretty much what i wanted to know.
if any of you had turned into professional traders.
apparenlty not.
but still loving the system.
thank you so much.
you see i trade something else at the moment and my pot has grown substantially.
but once i hit 100k
im moving to forexâŚi need the liquidity to handle larger sums.
and this is the approach i will be using.
very few trades
rock solid exit strategy
only take excellent indicators
and take profit along the way.
then again thanks.
its a difficult question to ask you see, as its easy for people to take it offensively for one reason or another .
it can attack a persons ego. even though that is not my intention.
i just want a base assesment of how you guys are doing.
anyway hope most of your trades are profitable.
keep up the good work.
It honestly is, the muffins in there are really expensive.
I was wondering what it is you are trading at the moment if you donât mind me asking?
Great intraday trading here on the 1hr chart mate! Really great level, with the trend. Nice Job!
Really clean one on the 8hr here and nice trading to those who took the BUEB in here. With the trend, key level at a swing low with a large and commanding price action setup! All the ingredients we look for an obvious high probability setup.
USDCAD 8HR BUEB
Johnathon
Really confused with this trend pattern. Will you consider this as a down trend or an up trend?
It looks like a longer term down trend and coming back to retrace but also look like a uptrend :17:
Sorry for my english
What pair is that?
Hi adamjn,
this pair is USD/SGD
H4 I like the look of, but you donât have a very big TP.1.25105 would be my first level of TP, so basically 1:1.3 Risk:Reward