Ok, I need to take some time to develop a better strategy. This is quite different from equities and has my head spinning a bit more than normal. :eek:
Plus, I am leaving for a three week vacation to backpack Europe. When I get back I will refine my strategy and continue to post. Maybe...
I stepped away for a bit, and 3 of my 4 trades were stopped out. Boy, am I glad this is a demo account while I learn this market.
USD/CHF - Stopped @ 1.3460 -50 pips
GBP/USD - Stopped @ 1.6117 -50 pips
EUR/USD - Stopped @ 1.1391 - 50 pips
Total since starting thread -160 pips
I've...
GBP/USD - Stopped @ 1.6075 +16 pips
Total since starting thread -10 pips
I must say, that I'm seeing a pattern. Whenever a candle is 35 pips or greater on the 30 min chart, I will close and reverse my position. It seems that a sharp reversal fabricates after one of these candles...
Hi Cable,
Thanks for the positive comments.
At this time I'm only using the 20 SMA on the 30 min. chart as a basic guide. I found with equities I was too wrapped up in indicators that I ended up hesitating on entry and exit. This time I have vowed to keep it simple - so far, so good...
When I went to bed (1:45 am PDT), the UK and E-12 economic data was in my favor. Nevertheless, the dollar strengthened overnight.
EUR/USD - Stopped @ 1.322 -11 pips
GBP/USD - Stopped @ 1.6089 -31 pips
USD/JPY - Stopped @ 120.62 -30 pips
Sub Total -72 pips
Total since starting thread...
Hi,
I liked what MarketSurfer was doing, so I thought I'd give it a try too.
After spending some time trading the equities market, I decided to take a hiatus. The manipulation, limited hours, unlimited tickers to pick from etc. seemed to limit my success - or should I say severely hamper...