Pipsqueak just starting out

Thanks for the vote of confidence tommor!
Indeed a swing trading style looks most attractive to me. If you don’t mind sharing, what trading plan has been most successful for you?

Following trends off the dailies. I used to exclusively swing trade but discovered the obvious lesson - the swing trades that do best are the ones that turn into trends and that you have the nerve to run with as long as poss. Now I just look for medium-term trends and get on board, then set pyramid orders 2 or 3 at a time ahead of price so that the winning positions get bigger and bigger. Takes a strong stomach against the draw-downs early in the campaign (and a thick skin against all the traders who say trend trading is dead and by the time you get in the trend is already dead and moving averages are too slow and blah blah blah.

Welcome danimated! I’m trying to learn price action as well… I haven’t really thought about using indicators for confirmation… which ones do you use?

That’s super helpful, noted! Drawdown will be a factor as my captial isn’t gigantic at the moment

What I’ve seen done is using Stochastic (14,3,3) as confirmation of trend reversal. RSI (9) as well, and can also be used to confirm a trending market using the 50 line.
I’m not an expert as of yet, and am starting to play with these so I can’t speak from too much experience just yet. Pipcrawler uses price action in his analysis, and the Cowabanga trading system uses both Stochastic and RSI

Wow I love that! It all sounds really interesting I would love to do acro yoga. X

Welcome Danimated! :smiley: I’m already loving your vibe.:blush: Haha. I don’t move a lot, but I hope to change that. :smiley:

Can’t wait. :stuck_out_tongue:

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The RSI seems interesting… I wonder how much it lags the action… I try to trade off daily charts, so it might just work for me… what frequency do you use?

Thank you! haha I love the support

There’s no better time to start than right meow :wink:

Only one way to find out! I tend to lean more towards Stochastic when I look at charts myself, but I know the Cowabanga system uses the two together - stochastic as the oscillator and RSI to confirm the direction of the trend. I remember having the thought that RSI (9) lagged behind Stochastic.
I’m not sure what you mean by frequency

Acro is fun! you should definitely try. Dance would translate well to acro - especially the walkovers and back bends

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We do a lot of acro stuff but no acro yoga sadly :sob::sob: I want to do more contortion work but not a lot of places near me do it for adults

Hello @danimated. You seem to have your foundation set. I’m still going through the School of Pipsology. I tried jumping right into it and luckily I used a demo account because I kept losing. So out of all the resources I’ve read, I finally came to the conclusion that Babypips is THE BEST resource to learn the fundamentals. Glad to have you aboard!

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Likewise! I’m glad you found this too, the sense of community is nice :slight_smile:

I’m looking forward to hearing what kind of trading plan you’ll follow after school haha

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I meant which time frame you trade off of.

Oh! Also daily charts, will look into 4h charts if dailies dilly dally and smell the daisies though (if they’re too slow haha)

Same here… I used to try trading off hourlys and lower but there’s just too much noise down there. I was obsessed with trying to scalp using automated systems, trading all the time… now I think slow and steady is the name of the game, 3 trades in a week may be too much, lol.

Hey Osprey, how goes the trading so far? Is the turtle trading paying off?

Hey @danimated! The markets have been unkind the past couple of weeks. Looking to turn it around with a USD/CAD short… check out my trading journal for more!

How are things with you?

Found your journal! I just started mine too, check it out.

So far honing my analytical skills. I’m reading the same articles you’re referencing on your journal too, to help me figure out the out the ones I should be watching more closely. Mostly I’ve been sitting on the sidelines waiting for my chance to get in