Sounds like he's a conventional long-term trend-follower who wants to appear as a day-trader. Or maybe he has some evidence that holding overnight would present an unacceptable risk.
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Ex bank trader uses hourly candles of hsi to day trade
- Thread starter GloriaBrown
- Start date
Sounds like he's a conventional long-term trend-follower who wants to appear as a day-trader. Or maybe he has some evidence that holding overnight would present an unacceptable risk.
Who are you talking about? something stupid happened?He charges people money to join his chatting room and listen to his day trade comments. There are only six hourly candles each day and no people understand how he comes up witj his daily trading plan.
I don't care if he uses a witch's hair, is he profitable or not?
There is no way to tell because we cannot track his performance. People follow him have different results.
Sounds like he's a conventional long-term trend-follower who wants to appear as a day-trader. Or maybe he has some evidence that holding overnight would present an unacceptable risk.
He used to be a FX trader in bank (trade bank money not bank client money). Base on my observation, I guess he uses to do swap trade with holding periods for days in bank. He focuses on selling day trade now mainly because he sells his daily trade comment chatroom for making profit. He talks about his day trade sometimes and doesn't sound like that is his main battlefield at all.
Who are you talking about? something stupid happened?
Here is the guy and this is his market comment for today:
He is not successful in trading himself so has a room for subscribers.
No wonder he is an ex-bank trader ;-)
well he shared what happened to himself. Around 20 years ago he was too confidence about himself and was broken because he believed in "fibonacci retracement" and kept bidding the wrong direction. For years he kept working for his trader position in bank to pay back the loan for the money he borrowed. Few years ago he left bank and started to be full time self trading for living and start having this chatroom subscription service.
He worked in Bank of China as a FX trader for around 15 to 20 years.
while it's ridiculous to daytrade of hourly patterns in charts ... I do use hourly candles as a basis for my daytrade eurusd ... I do add smaller timeframes to finetune everything ... A big part of my day is spend waiting ...
His fx performance is better than other markets for sure because that is what he used to do in bank.
Hourly is not a good tf for daytrading anymore. It's too short for long-term trend determination and too slow for intraday profitable daytrading thanks to HFT. If you want to trade off hourly tf, you are gonna have swing trade. People need to do their homework and stop blindly following those "gurus". I can't believe people paid to listen to him.