EUR/USD & GBP/USD & AUD/USD Forex Trading

Quote from ddaytrader:

My honest thoughts are that you are winging in, pure and simple. And until you stop winging it and learn to trade, you will continue to experience lengthy sentences of losses punctuated by the occassional success. You need to learn to read price action, and not trade what you "think" ought to happen.

I do not think about what price "should" or "should not" do. I do not think in terms of "overbought" and "oversold".

I trade support and resistance.

I know where I will be a buyer or a seller well before price gets to my entry point. You seem to look at a chart and buy or sell on a whim.

I know where my stop loss is, and it is based on support and resistance, not arbitrary amount set by me. I have no idea how you are setting your stop losses. Do you?

I know where I want to take my profits. These too are based upon support and resistance, not an arbitrary amount set by me. You are setting an arbitrary 10 pip take profit. As you are entering on a whim, is it a surprise that price will often chase your stop loss before tagging your take profit order?

You seem to be doing the daytrading equivalent of throwing flaming darts in gas station while blindfolded.

You need to change, before you blow up.

Good Luck,

d-day
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thank you and I receive this...when you say support, resistance etc...do you refer to daily pivots s/r?...4 hour chart pivots s/r?...daily charts pivots s/r?...thanks...
 
I've got these cross rates up on my trading screen/platform now:

AUD/USD
EUR/AUD
EUR/CAD
EUR/CHF
EUR/GBP
EUR/JPY
EUR/USD
GBP/CAD
GBP/CHF
GBP/JPY
GBP/USD
NZD/USD
USD/CAD
USD/CHF
USD/JPY

totally researching these...totally pumper for trading this week...which cross rates are you looking at trading this week and why?
 
Quote from increasenow:

I've got these cross rates up on my trading screen/platform now:

AUD/USD
EUR/AUD
EUR/CAD
EUR/CHF
EUR/GBP
EUR/JPY
EUR/USD
GBP/CAD
GBP/CHF
GBP/JPY
GBP/USD
NZD/USD
USD/CAD
USD/CHF
USD/JPY

totally researching these...totally pumper for trading this week...which cross rates are you looking at trading this week and why?
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EUR/USD, EUR/JPY, GBP/USD, GBPJPY, USD/CHF, USDJPY

That is really all I have ever found necessary to find decent trades daily. However, I will probably do most, though not all of my EURUSD, GBPUSD, and Yen trades using the 6E, 6B, and 6J now that FXCM has disabled auto stop losses and limit orders.
 
Quote from cabletrader:

I'm just trading the rasbuknik this week, I think it should do very well.
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don't you seriously trade the GBP/USD solely?...just curious...thanks...
 
Quote from ddaytrader:

EUR/USD, EUR/JPY, GBP/USD, GBPJPY, USD/CHF, USDJPY

That is really all I have ever found necessary to find decent trades daily. However, I will probably do most, though not all of my EURUSD, GBPUSD, and Yen trades using the 6E, 6B, and 6J now that FXCM has disabled auto stop losses and limit orders.
More...
cool stuff...thanks...
 
Quote from increasenow:


AUD/USD
EUR/AUD
EUR/CAD
EUR/CHF
EUR/GBP
EUR/JPY
EUR/USD
GBP/CAD
GBP/CHF
GBP/JPY
GBP/USD
NZD/USD
USD/CAD
USD/CHF
USD/JPY
More...
studying out which ones are at key support or resistance levels...this, in combination with key overbought or oversold indicators...thus, a 'recipe for pip profit'...got 15 rates up to view...therefore...more options...
 
Quote from increasenow:

don't you seriously trade the GBP/USD solely?...just curious...thanks...
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Yep, I seriously trade, I don't often trade just for a laugh, but not solely Gbp/Usd!

You're watching too many pairs anyway, you want to learn 2 or 3 at most when you start out, 15 pairs is crazy, half of the ones you listed are (inversely) correlated so you're pretty much trading the same move.....not that you'll take any notice of course :p

Anyway what did you think of the rasbuknik, great ain't it!


I'm done for the day, too slow for me....

16 trades, 15 wins +55 pips, 1 loss -1 pip, total +54 pips

2vttw6x.jpg
 
Quote from cabletrader:

Yep, I seriously trade, I don't often trade just for a laugh, but not solely Gbp/Usd!

You're watching too many pairs anyway, you want to learn 2 or 3 at most when you start out, 15 pairs is crazy, half of the ones you listed are (inversely) correlated so you're pretty much trading the same move.....not that you'll take any notice of course :p

Anyway what did you think of the rasbuknik, great ain't it!


I'm done for the day, too slow for me....

16 trades, 15 wins +55 pips, 1 loss -1 pip, total +54 pips

2vttw6x.jpg
More...
awesome trading...wowsers
 
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