well that was short and sweet, quite quiet for me, usually average around 5 trades a day.
Only 3 a day at the end of play, seems there’s a lot of indecision in the markets with candles moving quickly in one direction or other but retreating as quickly as the bulls and bears tussle it out and again currencies moving sideways.
Scores on the doors:
9 trades
6 Winning Trades
1 loss
2 still in play (EUR/CHF short, not sure which way this one is going to go, letting it run,
GBP/AUD , more hope for this, although drifting sideways as well)
Well onto next week, may the Forex be with you.
That’s a lot of winning trades! Do you have a system/strategy you’re following?
Yes, I use a strategy, I get regular information provided through a third party, I then place my trades accordingly, I trade most of the majors plus commodities and indices on 4 hour charts and end of the day.
Very nice. Any crucial indicators you’re using for your strategy?
I tend to trade with the trend, I do look at higher highs, lower lows and so on but basically, the software gives me a number of trades, 4 hourly and end of day it’s down to my judgement whether to pull the trigger, it still needs the disciplines of trading and entering my S/L, at the moment I think my S/L are too tight in present climate and have worked against me, so I’m addressing that as we go into the second half of the month.
That used to be my problem also. I’ve experimented with trading using no SLs but it can be pretty stressful constantly checking trades.
So signals? Does the 3rd party give you background on why they give you what they give you?
No the programme is supplied by a third party, I work off the signals, then it’s up to me to execute the trade, I still have a trading plan and if my criteria is met I pull the trigger.
No it’s a programme it will give me a selection of trades, at the moment for a on a 4 hour chart it’s giving me 4 possible trades, I’ve decided that none of them meet my criteria and trading plan so I’m passing on them.
Hmm. Can you take me through a sample trade with the signal and trading plan involved?
Unfortunately isn’t doesn’t work that way, if you read my weekly post you will see trades I’m in and usually a reason why, like most on here i have a trading system and it’s unique to me and my trading style.
Aha. Okay will have to check that out! Thank you!