good call mr janbillian
how did the gbp usd trade fare?
https://www.worldtimebuddy.com/cest-to-est-converter
... but is it doable in reality ?
- Thread starter janbillian
- Start date
how did the gbp usd trade fare?
https://www.worldtimebuddy.com/cest-to-est-converter
@ all - I'm in the unfortunate position of not having any financial means that allow me to trade ! But this may change. If it will, I will of course trade my own setups. As of now, these setups are posted because I hope I'll make some new, great contacts here aka profitable traders who give feedback, positve & negative.
As many of you did, I have read Jack Schwager's Market wizards books (the first two) - and I now know how easily SLs are triggered, and how important it is to survive a losing streak. That's why I advocate not to risk more than 0.5 % of your equity per trade, 1% is too much imho.
I'm a premium member of tradingview, allows me to choose my own timeframe.
Speaking of Market wizards, volume V will be published this november -> https://tinyurl.com/ycaqvopx
If you haven't already, this is a must read as it summarizes important concepts from an all-time great in trading (my personal role-model !), Bruce Kovner -> https://www.brucekovner.com/Caxton20thAnniversary.html
If I post a setup in the opposite direction, it means of course the old setup is no longer valid (a switch from short to long or vice versa).
As many of you did, I have read Jack Schwager's Market wizards books (the first two) - and I now know how easily SLs are triggered, and how important it is to survive a losing streak. That's why I advocate not to risk more than 0.5 % of your equity per trade, 1% is too much imho.
I'm a premium member of tradingview, allows me to choose my own timeframe.
Speaking of Market wizards, volume V will be published this november -> https://tinyurl.com/ycaqvopx
If you haven't already, this is a must read as it summarizes important concepts from an all-time great in trading (my personal role-model !), Bruce Kovner -> https://www.brucekovner.com/Caxton20thAnniversary.html
If I post a setup in the opposite direction, it means of course the old setup is no longer valid (a switch from short to long or vice versa).
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... case in point is the pair US$ vs CAD, first two setups did not work out as hoped .
I now believe a valid uptrend could catapult it higher, would now be a bull here and buy @ around 1.3662 - place the SL 70 pips below entry and the profit target 280 pips above entry (a potential 4R trade).
I now believe a valid uptrend could catapult it higher, would now be a bull here and buy @ around 1.3662 - place the SL 70 pips below entry and the profit target 280 pips above entry (a potential 4R trade).
Here's another bullish setup, I'd now go long in the pair USD vs Turkish Lira (USDTRY). Timeframe displayed is daily (D). It's now trading at around 6.8540 . SL I would place @ 6.78 , Profittarget would be 7.15 .
As a side thought, I wrote in my initial post opening this thread how well an investment in Mastercard (went public on 05/25/2006) would have worked out - I'd never invest purely on other's opinion, but it shows how simple an investment idea can be - and has the potential to even outperform the rare starfundmanagers .
The bullish setup for the pair US$ vs CAD remains valid, but I'd lower the stop loss level to around 120 pips below entry (@ around 1.3540), at the same time I see upside potential to 1.40 or even higher. If the pair should see 1.3830 or higher, I'd move the SL to entry level.
The S&P 500 (SPX) closed @ around 3,009 according to tradingview on friday, 06/26/20 . I think this is a valid short setup, as I see downside potential to 2,850 points or even lower.
this is probably going below 1.33000... case in point is the pair US$ vs CAD, first two setups did not work out as hoped .
I now believe a valid uptrend could catapult it higher, would now be a bull here and buy @ around 1.3662 - place the SL 70 pips below entry and the profit target 280 pips above entry (a potential 4R trade).
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how do you formulate your stops and targets?