Thank you and nice trade yourself. Live rooms are great. Everyone gets to see the thought that goes into making a simple trade. It’s not as easy writing it down as in the moment in my opinion.
I have a pending long on GBPUSD. Green is open trade area, Red is Stop loss, Orange trailing stop and Gold potential profit targets.
Wow Rough day everything seems to be ranging. So if you want to trade this is what I’m doing. I used a camarilla pivot point I applied it on the 1 hour time frame, as usual green is entry area, red is stop, orange is trailing stop loss, gold is profit target. If price moves beyond the gold profit target area, I’m going to let it run with a trailing stop.
Yes agreed! I am aware of the challenge that is ahead with regards to this. The idea is to block of capital for this purpose as the point is to mirror the kind of account and risk new traders will want to take starting out. I
The main issue is that Traders initially don’t want to commit a lot to trading and eventually a catch 22 arises as they can’t find the commitment to trade for small profits, so they have to work which further lengthens the learning curve, so if a trader can risk manage sufficiently then they are more likely to commit at least 5k to start and have the confidence enough to risk like they were starting a new business. I have seen people quit their jobs to start businesses with in some cases less capital.
Anyway, I want to create a virtual prop group where traders can learn and also pros can trade and that sure beats trading on your own which trust me is just boring. Neuro Psychologist once told me that group flow is important to performance as people sharing ideas in groups increase motivation and narrow focus a very necessary ingredient to successful trading.
So I hope you guys will come in as well, could do with another set of pro eyes on the market.
I am short Euro Sterling and Sterling Aussie, so I have to see how this baby plays out. Should have shorted Sterling CAD more of a move lower on that. Sterling is not having a good day.
I just keep in my mind that Americans will buy their own currency first and based on the USD volume in the market it is safer to be long Dollars at NY open than short especially if the Dollar is trending up.
I have a pending long on the 1 hour GBPUSD. Green is entry, red is stop, orange trailing stop and gold is profit targets
I have a pending long on the 1 hour USDCAD. Green is entry, red is stop, orange trailing stop. Be careful with this one. If you’re going to take it. Remember tomorrow is Friday, and both currencies have announcements shortly after NY open. My plan is to keep the stop loss tight and get out at the first sign of any profit.
I updated my Fibonacci rules at Post #2. This is a protect your profit and grow your bankroll.
Be back with a trade later.
Gp
I have a pending short on the GBPUSD 1 hour time frame. Green is entry, Red is the Stop Loss, Orange trailing stop, Gold profit targets.
I have a pending long on GBPUSD 1 hour time frame. Red Stop, Green Entry, Orange trailing stop and gold profit targets
Looks like a nice idea. I’m thinking of shorting where you have a tp.
I have a feeling it won’t make it. We’ll see.
[QUOTE=MikeCa;692408]Looks like a nice idea. I’m thinking of shorting where you have a tp.
I have a feeling it won’t make it. We’ll see.
I love this pair, it’s my favorite. Once you understand how it works, you can almost never be wrong, mostly late or right. I got stopped out last night, but jumped back in just after the morning announcements. Like I said not wrong last night, just late. :rolleyes:
Good Luck
Gp
I have a pending short on AUDCAD, Red is stop, Green is entry, Orange trailing stop and Gold is profit.
I have a pending long on USDCAD 1 hour time frame. Green is entry target, Red line is Stop, Orange is trailing stop and Gold is profit targets.
I have a pending long on GBPUSD. 1 hour time frame. Green entry, Red stop loss, Orange trailing stop and gold profit areas.
See post#2 Color rules 4.-8.
Happy Tuesday!!
It is great to see someone do something so simply and so well.
It is a pleasure to follow you along and you inspire me to improve my own trading.
Thanks for being generous enough to share.
Good luck always,
Padraic
I’m short on AUDUSD. Green is entry, Red is stop, Orange is trailing stop and gold is profit targets. I’m waiting for price to bounce off the 62% level I will use a pending entry but I want to see price bounce first
I have a pending long on AUDUSD. Green is Entry area, Red is Stop, Orange is Trailing Stop area and Gold is Profit area
I have a pending short on AUDUSD. Green is Entry, Red is fixed Stop, Orange is Trailing Stop and Gold is profit targets.
