I daytrade between 6AM and 9AM (New York time), but if there is a trading setup during the Asian session (after 6 PM or so) I take it too.
Do you day trade, swing trade or position trade forex?
- Thread starter nwoptions
- Start date
I daytrade between 6AM and 9AM (New York time), but if there is a trading setup during the Asian session (after 6 PM or so) I take it too.
Oops!
The image from Entry #5 was posted backwards and upside down...my apologies!
This is the corrected version.
Oops, again!
The setting was incorrect for the yellow baseline moving average in Post #9, but the principle is still the same.
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In a bear trend\\ trading , he can gethis account killed like that. Looks like on paper daytrading could help get rich quick; if not for slippage/ lost dividends /surprise rate cuts+ higher sec fees/I would do more daytrading. Not 4x/forex; but I use 3x ETFs some.
IF I could make[net] money off a nickle trend in ETFs I would; not many do that + that's how so many hedge funds underperform SPY also...…………………………………………………………………………………………………………….
I similar method to Expiated, just checked Friday via is and GBPUSD doesn't trade well, way too choppy, I use to filter out chop and just trade the trend bits mind.
Nasdaq/NQ I pretty much can't lose money on that recently, strong trend entire US session, DAX is trickier mind and cost me the dear the other day.
I stopped trading FX years back, used to be fast and swingy most of the day aswell, weaker and weaker or maybe stronger as less volatile, go NQ / YM / ES but no over night holds with them, where as GBPUSD better for that I guess.
Nasdaq/NQ I pretty much can't lose money on that recently, strong trend entire US session, DAX is trickier mind and cost me the dear the other day.
I stopped trading FX years back, used to be fast and swingy most of the day aswell, weaker and weaker or maybe stronger as less volatile, go NQ / YM / ES but no over night holds with them, where as GBPUSD better for that I guess.
The DAX is very, very hard to day trade!
I suggest you switch to the EuroStoxx50 instead, its behavior is more "polite" so to speak (for a lack of a better word, like good old Gordon Gekko would say)...
The DAX is very, very hard to day trade!
I suggest you switch to the EuroStoxx50 instead, its behavior is more "polite" so to speak (for a lack of a better word, like good old Gordon Gekko would say)...
the Stoxx50 last time I checked 1year+ ago was too slow, too low volume and hard for me to read, I like good strong moves you can trust and hold onto.
I was just having a brain dead heat stroked, it's going up LONG, it's stalled SL hit, it's going down repeat, it was sideways and I was buying the top and shorting the bottom perfectly I'll add, back on demo head fixed, find out tomorrow with real $$$'s if fixed or not LOL
p.s. heatwave is gone, hate heatwaves!!
What do you think of MACD, RSI, stochastics? Overrated?
Indicators can be used as a filter or for confirmation.
For example if you want to go long make sure the price is also above a moving average like the 100.
Or if you are buying on a pullback make sure the price is also below the RSI 30 for instance. Etc...etc...
Personally I do not use them anymore.
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