Daily EUR/USD trades
- Thread starter romik
- Start date
i'm still long...my targets posted on 2/12 still apply.
my analysis on the daily chart is holding.
my analysis on the daily chart is holding.
I have been looking into trading the forex market, currently trading the futures market, and was wondering if most people daytraded the forex or swingtrade. Looking at the charts it seems that most of the action happens between 1:00 and 2:30 AM EST. Any advice would be most appreciated.
there is a fairly good variety of different approaches that one could apply to trading fx.
swing trading, daytrading (scalping) and even longer-term trades for the carry all work. you just have to go with the approach that best meets your personality.
personally, i swing trade holding positions for hours if not a few days at a time. i prefer this style of trading because it's less high-maintenance and reduces the need for split-second trade execution.
as for my existing trade in EURUSD that i got in a few days ago...i'm still targetting my exit at 1.3190...looks like it'll hit today.
swing trading, daytrading (scalping) and even longer-term trades for the carry all work. you just have to go with the approach that best meets your personality.
personally, i swing trade holding positions for hours if not a few days at a time. i prefer this style of trading because it's less high-maintenance and reduces the need for split-second trade execution.
as for my existing trade in EURUSD that i got in a few days ago...i'm still targetting my exit at 1.3190...looks like it'll hit today.
IMO it appears that we tested the top of the downchannel and now we should start the next leg down. EUR/USD has consolidated for while now and is building the strength for a nice leg down. Should test the 1.2865 Support. My forecast for Tuesday down leg was delayed by a few days. Today shoud be the retracement top holding at todays high with a close above yesterday's close. Friday should began the next cycle extending into next week.
Just my 2 cents. I'm short from 1.3164 and holding.
Just my 2 cents. I'm short from 1.3164 and holding.
the question regarding holding a position overnight...
generally speaking, because i only hold onto a trade on average a few days i don't necessarily consider the overnight interest in my equation.
because the typical trade i make identifies profit targets of 50 PIPs or more, the interest accrued in the interim is nominal compared to the overall profit potential.
unless you're trading a pair with an extremely high overnight interest debit it shouldn't necessarily be a concern if your typical trade timeframe is short to intermediate in length.
accounting for the impact of the overnight (rollover) interest becomes more important if you're holding for weeks at a time.
i'm still holding onto my long position to see what sort of follow through occurs tomorrow (Friday).
generally speaking, because i only hold onto a trade on average a few days i don't necessarily consider the overnight interest in my equation.
because the typical trade i make identifies profit targets of 50 PIPs or more, the interest accrued in the interim is nominal compared to the overall profit potential.
unless you're trading a pair with an extremely high overnight interest debit it shouldn't necessarily be a concern if your typical trade timeframe is short to intermediate in length.
accounting for the impact of the overnight (rollover) interest becomes more important if you're holding for weeks at a time.
i'm still holding onto my long position to see what sort of follow through occurs tomorrow (Friday).
still holding onto my long position from last week...gunning for my limit at 1.3190.
daily's looking shaky so i'm ready to pull the trigger and get out sooner if need be.
daily's looking shaky so i'm ready to pull the trigger and get out sooner if need be.
closed at 1.3136 at market.
the price action no longer makes sense on a daily and upward momentum seemed dead at this point...for now.
i'm taking my money off the table for this one while i still can.
the price action no longer makes sense on a daily and upward momentum seemed dead at this point...for now.
i'm taking my money off the table for this one while i still can.