Never heard of it but would be interesting to see. If you have any further luck with and and wanting to share, you are definitely welcome here.
I’m sorry but traders who wake up to travel into central London each morning to the City are NOT amateurs - they are professional traders working for banks and hedge funds.
I’m not suggesting for a minute they are all trading the London open on five minute charts - I am suggesting they wake up early and are dedicated to the job of trading.
I understand where you are coming from and why you are suggesting it - you sure don’t need to be fixed on price all day.
In fact I mention that in more than passing on my own blog.
I do think that however f you can’t distinguish the City of London from the city called London though quite possibly it’s you who is the amateur not them.
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i love scalping so i like to trade on 1min and 5min timeframe.
What I don’t understand from the little discussion above is why you care so much about what someone else thinks.
If you have mastered your strategy and have back-tested and it has given you positive results about enough number of trades then it doesn’t matter what anyone else thinks about it?
I have never replied to a topic but this one appealed to me because i trade through the daily timeframe. But after my 3.5 years of learning, demo trading and the most important emotional aspect, I am still setting up this ‘Company’.
,If you believe in it and trust it then that should be enough. I understand the suspicion of other people because it hurts you emotionally what others think.
And that’s why the psychological aspect is so incredibly difficult, so make the rest easy by excluding opinions from others as long as you’ve tested it and are profitable.
Greets Tom
I trade Forex on the Daily chart as I work full time and can set my trades each day.
My setup is simple;
Major Pairs
Ichimoku Kinko Hyo
10 Mins each day.
75% hit rate.
Hello Tommm128
If emotion is a barrier, then maybe you can investigate in a bot to trade your strategy to eliminate the psychological aspect. I agree with you whole heartedly.
Yes I have messaged you directly now.
Exactly, I am more interested to read all the comments. Btw are you new here or it’s been a while
Certain times of the day are better for trading certain currencies. Depends on your trading style and investment so to say.
Afternoon time is the best time for me to trade, that’s when USDJPY gives maximum opportunities for good bucks.
I generally watch 1Hr window
I trade on various timeframes but do it with rules. Some of my trading systems generate signals on daily timeframe, scalping ones - on 1M and 15M. The rule of thumb is to avoid manual trading on timeframes lower than 5M because you will consistently lose due to speed of opening and closing orders.
Hi, Since I trade on a daily time frame with USD currency, I prefer sticking with US time frame.
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Yes even I find the increased volatility of this pair between 12 and 3 to be good for my trades. For all other pairs that I trade I find good opportunities till 11.30 max, after that most traders stop trading so there’s no volume and hence liquidity in the market is less.
Hmm each one to his own, I think it is so much safer to keep investments with different brokers.
I believe that one should start off by trading only 1 pair, study all the technical and fundamental aspects of the pair, keep a constant eye on its movements. When it comes to brokers, using many would be my suggestion. It is better for risk management. You can list out the things you would want in your broker and then choose the ones that fit your style. Say if you are like me whose profits depend solely on quick execution and lower spreads and commissions, brokers to ideally use would be pepperstone, fxview, xm and ig. I make sure that brokers I am using are certified and all, but still you can never tell. It’s better to split your money.
Hi, this is wonder information, esp for a newbie like myself who is becoming increasingly overwhelmed. You mention in an earlier return post(july) what you look for to enter you trades and also mentioned that you would be adding more detail on babypips in the future.
Have you done that and id I miss it. Thank you in advance
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Are us in the US in EST ?
I usually trade on hourly chart and sometimes on 4 hour chart.
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It was really interesting to read. I totally agree with everything you mentioned in this
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