For EJ I see a bullish covering pattern about to form => Potential setup.
However, GJ I will stay out, as it is quite far from the moving average, I doubt it will reverse slightly to the mean.
However, GJ I will stay out, as it is quite far from the moving average, I doubt it will reverse slightly to the mean.
Iâm not in EJ but I think next Target area is 131. If I was in, I;d be taking profit right before that area
btw, did you do normal or aggressive in the challenge? iâm just doing normal, 50K account. plenty for me right now
Normal, the aggressive is just the same parameters as the challenge above with less working capital and itâs more expensive.
Meaning a regular $50k account and an aggressive $25k cost the same and have the same goals you have to meet to get funded. Just youâre using a smaller account, which really youâre not going to eat up your margin so there is no difference from what I can see that would make a difference in your trading.
yeah they just double up the profit target, while doubling the daily and max draw down, lol. idk, just didnât make too much sense to me to do the aggressive account⌠well, i went to the bank today to get the payment approved. they blocked the first send and said the next one will be allowedâŚnow the Upay wonât work with a new link lol. im just going to do a bank wire tomorrow and be done with it. hopefully the fee doesnât suck
Okay, 1 more annoying question ALG, lol. Can you trade $AMD w FTMO? I see all the stocks listed but its not there. Was pretty sure u mentioned trading it before⌠Im glad $NVDA is on the list! Things a beast, moves $10 easily lol
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Dude theyâre not annoying, keep them coming. They do not it seems, just went and checked my instruments.
lol, thanks man, just felt like i was being a pest with all the questions lol⌠gotcha. idk why i thought that about $AMD⌠i see each contract is â1â, so if you wanted to trade 100 shares, youâd put 100 in for the qty? my CFD broker now is 1 lot = 100 shares
ALG, when you got your 100K account, you had to do the whole challenge over again right? 50K is plenty for me right now but Iâd love to get a 200K down the road
Yes each time you want to add to your account you have to do a challenge.
Not sure. I just know if you put on a 1.0 lot trade. For every penny the stock moves that $1.00 on the trade balance.
gotcha brother⌠im think GBPJPY and GBPUSD may have topped out on this nice little uptrend. might look to short GBPJPY
Thank you Alg626 for this great thread and I love your style of teaching us the way you trade, thank you again, I have some inquiries and observations too, for the USDCAD loss trade, you entered buy toward a daily resistance (green horizontal line) and a round number .129500 which I do see that at-least we will need candle close above it to consider buy.
I noticed that you donât take into account the minor support resistance at 4H chart, instead focus on the round numbers and area of supply-demand instead, those minor S/R levels I do consider as a trouble areas where the price might hit them and retrace, but I like the way you are trading.
ALG. What are some exotics you like that have decent range and spreads? Ive always liked USDSEK. Looking to add GBPSEK and EURSEK to the watchlist
Thatâs the cool thing about trading is everyone can see something different, also the difficult thing about trading. I was expecting price to continue on through. If you look at my entry from USDCAD and not using hindsight. I was actually only just a small distance from my TP1 which we all know based on what I posted most of my trades hit that.
Itâs easy to draw a line after the fact. If you look back on your chart there was a pinbar a couple months ago that rejected 1.2950 and before that the last time price was at that level was 12/21/20. And look at all the clean area above my entry, that means look left on the chart and notice that price hasnât been up that high in a couple of months. But thatâs been about it so I played the trade as it would continue on up. And it didnât oh well, I move on to the next. Cause I know over a series of trades I will come out positive.
Also maybe you donât follow the charts or didnât read through the thread. I trade off 4HR charts using support and resistance. Just look at all the charts that are posted. Do I also use supply and demand or accumulation zones, yes. But all my charts are marked with a green line (which is my daily levels) and blue lines(which are my 4HR levels). I will also mark a accumulation area if Iâm trading from that. Literally I trade from zone to zone lol so not sure where you got that I donât trade off 4HR levels.
GBP moving
I like anything really, I trade whatever comes up with a good setup. I donât really have a favorite pair or one I watch more then the other. Also I donât think FTMO has GBPSEK and they just added EURSEK. The only pair I donât trade that they offer was USDILS, just were a lot of gaps and I didnât like the look of the chart.
I actually checked the instrument list after I posted, lol. I was like aghhh, no GBPSEK. No worries though, my other broker has both that and EURSEK. USDSEK is better than both anyway⌠the bad thing with exotics is that the spreads arenât as good⌠hopefully they get my bank wire today or tomorrow, it can take up to a few business days apparently. glad i did it this week instead of wait for the new yearâŚ
what are the spreads like on US30/Nas100/SPX500? with my broker now, US30 is usually $2, NAS100 is right around $1 and SPX is usually .50-.60