5% - 10% profit per day trading

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Quote from usman88:

didnt quite get you
whts a jelly donut? and 10B euro?

and to makes things simple

a simple 5 min trade in oil can yield 200-300 USD. What does a similar time frame trade gives you in forex? and what are the most active timings for forex? 9am-1:20pm EST?

Jeez.

In a similar time frame forex can make you $1bn. or $1. Depending on your position size. Just like oil. Look at daily ranges for forex vs oil and you'll see that generally forex is much less volatile, but people trade it in much bigger size because brokers allow more gearing. And that's because in % terms its less volatile. So all people are doing is increasing their position size to compensate for its relative lack of volatility. Which is why some people appear to win big, usually shortly before they blow up in a manner even Spanish would find impressive.

Assuming by PST you mean US West Coast, then the London morning session 8am-1pm is equivalent to midnight to 5am, so good luck trading it and carrying on with a day-job.
 
Quote from usman88:

PST= Pakistan standard time
1pm-7pm(forex) 7pm-1230am(oil)

my apologies. I assumed Pacific Standard Time given your logon which I read as US Man!

for what it's worth, IMO forex is very difficult to find an edge in. A lot of people seem to confuse 'edge' with 'insane gearing' - if you're trading oil successfully I would stick with that...
 
Quote from citygent:

my apologies. I assumed Pacific Standard Time given your logon which I read as US Man!

for what it's worth, IMO forex is very difficult to find an edge in. A lot of people seem to confuse 'edge' with 'insane gearing' - if you're trading oil successfully I would stick with that...

Yes Forex is same as any other market, but with alot of leverage, quick gains if your good at analysing or quick losses if you get it wrong and blow up..

Ive moved away from forex intraday, and tend to go for it on a longer term basis. Now i focus on Oil as wel as 1 or 2 other instruments or where an opportunity lies..
 
I am not thinking about investing/trading big time in forex. My specialization is oil and I am pretty happy with it. Its just that I dont want to stop learning and want to gain the max I can.

I was thinking about gambling away 1k or 2k of my oil profit and lets see how it goes. I would probably trade off using a 5 min MACD and some other technical indicators(combo of the same one i use on oil)...If I earn something well and good,...if not ill just consider the oil profit never came
 
wow this is really messed up. Crude finally broke out and it now appears that I got stopped out exactly at the bottom. :(

Maybe I put my stop at a stupid place, right on the support level. :confused:

I need to go back to trading with large stops again. 2 weeks ago, I was making good money in oil because I was using wide stops and banking in $2 profits. Now i am trading scared, dumping trades as soon as it turns on me by .20-.30 cents

How did everyone else do today?
 
Quote from lemeeeplay:

wow this is really messed up. Crude finally broke out and it now appears that I got stopped out exactly at the bottom. :(

Maybe I put my stop at a stupid place, right on the support level. :confused:

I need to go back to trading with large stops again. 2 weeks ago, I was making good money in oil because I was using wide stops and banking in $2 profits. Now i am trading scared, dumping trades as soon as it turns on me by .20-.30 cents

How did everyone else do today?

Did not make any trades. Range was too thin and volatile. Terrible trading conditions for swing trading.
 
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