I understand what you are saying as this has become a fulltime hobby. I just need it to pay off better/more to justify the time. I really enjoy trading if for nothing else than keeping up on the financial fundamentals. Until forex a computer was just for emails and occasionally searching for something on the internet. I hope we all make a bunch of bucks!
19 Pairs ? Wow hope it was not a typo 
I hope you can share some strategy with us about trades ? Do you follow any technique in specific ? Any inputs will be useful.
Thanks in advance.
Muthu.
I look for reversals and continuations. So when going through the 19 pairs I just look at over all price action and see if anything might be setting itself up into something tradable. If so, I spend a little time plotting a few lines to see a better picture.
If I like what I see, I make a decision as to where I will enter the market if price reaches a certain point. I am always willing to get on a little late to be sure price is going in my direction.
I do not always set a firm to or sl, but rather look for areas to get out of the market.
Thank you for the explanation. For the third week in a row, marked opened with gap. This time a bigger gap so no trade entry possible as planned.
Regards,
Muthu.
A near âDark Cloudâ cover pattern formed and looked good for a short entry. Sold Cable at area marked. Target and stops are marked with white lines. Stops above day high and Target just above dayâs low. Trade entry was at the break of prevâs candleâs low. Lets see how the trade goes.
Exit made on the trade as marked in the area.
Regards,
Muthu.
Chennai.
India.
A similar pattern also was thrown by Euro around the same time. Sold Euro at the break of low of the 2 candle dark cloud pattern. Entry, Target area and Stops are as marked.
Made an exit off this pair at area marked.
Regards,
Muthu.
Chennai.
India.
A third trade possibility developed at the same time. I didnât trade as I was managing euro and cable. However, wanted to post chart for learning purpose.
Regards,
Muthu.
I tried for 20 minutes to post a chart but itâs beyond me, even with Tymenâs âHow toâŚâ post. At 08:45 CDT/U.S. I sold the Aud/Usd @ .8954 and took profit at .8934 on the 1H. I had company so I couldnât watch it very well and just closed for +20 pips. I used M.'s S/R levels plus a version of the 3 white soldiers/3 black crows candlestick pattern. A simpler version can be found in BPs entitled âTrading the V Strategyâ by Chuck Norris. In using M.s S/R on shorter than 4H I donât wait for the 3rd candle if I clearly see price moving in line witht e trend as found on one TF higher and one TF lower. The 5M is useful for entry and exit only after seeing the bigger picture on the 1H. Is any of this making since? I hope so.
Steve Nison warns in his book that the 3⌠patterns are best used in longer TFs especially D. on up. It just indicates a trend might be ending or retracing so a MA or TLs or S/R should be considered too when seeing this PA pattern. d.
Hey mg99 & M -
Are you two still active or sitting out the Greek tradegy? Hard to trade these days. d.
Iâm definitely being more careful, but I am still actively trading. I made some impressive gains last week when the market went nuts. I waited the day after to see what was going on. Day after got right back in.
In two trades right now. Audusd and gbpchf. One of the two is winning at the moment leaving me with 2% floating profit.
Great going! Me, Iâm about a dollar three eighty to the good; in otherwords, just a little above breakeven for the week. I just wonder if when the Greece thing settles down, hopefully it will, that Spain or Portugal will kick over the barrel. I hope not. d.
New to baby pips and just came accross this thread. I am certainly looking forward to participating here. I have still got a lot of reading to do, but from what I have read so far, this approach to forex trading is the correct one. I have been trading in a similar way for some time.
Great thread guys !!! :D:D:D price ation all the way!!!
2 hrs ago I entered a sell @ 1.2350 with a SL @1.2530 & a TP @1.2080, a 1/1.5 risk to reward. Entered on the Daily TF, I would like to see this one run as I wonât get many trading opportunities this week or next. Retirement isnât as slow or relaxed as I thought it would be. Good trading all, D.
What pair?
EUD/USD - I posted an abbreviated symbol in the subject/title area; I should have made it more prominent. I am now out & Iâll post pip profits in a while. A nice little run. D
more info: I closed for partial profits before bedtime @ 1.2305 & closed this morning @ 1.2213
I took G/U. Went short 20 pips past the break of yesterdayâs low. Still some promise, but not like the gain you had from E/U. Good trade.
I will give this thread a little boost by going over another price action strategy over the next week or so. Provided that the daily charts can provide me enough examples. Iâm sure this pattern has several different names and a variety of different ârulesâ surrounding it, but I coin it the âR&Râ. Rejection and Reversal.
I trade R&Râs mainly on the daily chart, but they are relevant on nearly all time charts. So whether, youâre looking for a few pips on a 1 min, or a 100+ pips on a daily chart, this should be of interest to you.
Iâll post a real time example as soon as one presents itself.
Looking forward to seeing your strategy. Has anyone heard from our friend M. in India? He had been doing rather well. D.