GBP/USD trading

Quote from nik1033:

Actually I went long yesterday at 2.0410 and still holding this trade.

2.0490 level mentioned by you, just was my 1st expected target ...

I will post then my s/l level would be broken...

GL
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Thanks man, I am just learning Forex, and I have been studying the GDP/USD combination. I was told by a day trader I met at the gym he recommends the GDP/USD due to its volatility during the morning hours (both markets open).

I am guessing you use technical analysis to make your judgement on your trades. What indicators do you use? I am just trying out a 10 EMA and a 20 EMA along with a RSI (above 50 a signal to go long, below 50 a signal to go short).
 
Quote from UNLV_TJ:

Thanks man, I am just learning Forex, and I have been studying the GDP/USD combination. I was told by a day trader I met at the gym he recommends the GDP/USD due to its volatility during the morning hours (both markets open).

I am guessing you use technical analysis to make your judgement on your trades. What indicators do you use? I am just trying out a 10 EMA and a 20 EMA along with a RSI (above 50 a signal to go long, below 50 a signal to go short).
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I really agree with your friend about volatility of GBP.
This kind of technical analysis will help you to determine the trend, but actual poit is to find where to enter and exit the market.
I generally use SMA's and RSI to see overall picture, but entries are determined by my system...

GL
 
been short since 11pm EST...

Will start to chart all my positions on here from now on.

Basic system CCI based looking for reversals and breakouts

GL and GT
 
Quote from UNLV_TJ:

Thanks man, I am just learning Forex, and I have been studying the GDP/USD combination. I was told by a day trader I met at the gym he recommends the GDP/USD due to its volatility during the morning hours (both markets open).

I am guessing you use technical analysis to make your judgement on your trades. What indicators do you use? I am just trying out a 10 EMA and a 20 EMA along with a RSI (above 50 a signal to go long, below 50 a signal to go short).
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The best time to trade this pair is midnight to around 10am EST. NFP is also like clockwork on first fridays.
 
Quote from Matt24SPFL:

The best time to trade this pair is midnight to around 10am EST. NFP is also like clockwork on first fridays.
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Midnight to 10AM?

But with both markets being close part of this time, I would guess things are flat.

What is CCI, GL, and GT?
 
Quote from UNLV_TJ:

Thanks man, I am just learning Forex, and I have been studying the GDP/USD combination. I was told by a day trader I met at the gym he recommends the GDP/USD due to its volatility during the morning hours (both markets open).

I am guessing you use technical analysis to make your judgement on your trades. What indicators do you use? I am just trying out a 10 EMA and a 20 EMA along with a RSI (above 50 a signal to go long, below 50 a signal to go short).
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Here is the only advise you need to hear. Disregard at you own risk.

If you are serious about "learning" FX here is the starting point ...

STOP doing the following immediaitely:

Stop asking questions - most don't know thier ass from a hole in the ground.
Stop listening to opinions - see above.
Stop following other's buy and sell calls - like this knucklehead nik's - see above.
Stop looking for the easy way out and shortcuts.
Stop looking to others to do YOUR leg work.

START doing the following immediately:

Study charts and when you're done study them again ... for hours, days, weeks and months. This is your mission.

Study the price action of the top FX pairs and not just the "majors". Study the action across all timeframes ... 5 min - weekly.

Study various indicators and how they behave in trending and ranging markets across different timeframes.

Study how news releases effect price action.

Based on your study, devise a game plan ... YOUR game plan.

Google your newbie questions.

Put in your time and hard work if your want to be a trader and not some forum piker/fx gambler.

Lesson over.
 
Whoa, hold on to your horses.

I don't want anyone to do any work for me at all. And I certainly know there are no short cuts.

The reason I want to trade is mostly for financial freedom (not to be rich, just to be able to survive while working for myself), the second reason is the challenge.

Now, with that said, I was only wondering what indicators are used to see if what I am currently using and looking for is even close to the right path.
 
Quote from bigmrfrank:

Wrong AGAIN!? What is that 3 - 4 times in a row now?
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Frank-Great FX guru....you do not need stop losses, you are so omniscient...

You really need help!!!

:)
 
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