My forex chart for the day

J

jonathan734

I am attaching a 5 min chart of the Eur/Usd. I wrote on them where my entry and exit for the trade was. I had already made a few other successful trades for the day and didn't want to lose anything so I exited, mainly because my 20/40 moving avgs crossed. I was hoping someone else could have told me a reason for exiting or staying in other than a gut feeling I had.

I was shorting all morning for 15 pips and waiting for the price to come back to the top of the channel before shorting again. So I am not sure if I am doing this right but I thought I would post up and let some people critique. This is done on a forex .com practice account. Thanks for the time guys.

Please excuse the the chart in paint. I am not very computer literate.
 

Attachments

Fair enough, I usually have a momentum indicator at the bottom, but I heavily rely on support and resistance. So would you say that the winners I have gotten have been beginners luck?

AReaGannTrader, what do you mean by bracket it?
 
Quote from T-Bone Trader:

... You need some technical indicators!
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Why? What are they going to tell him he can't already see in the price action?

No offense.......just being honest.
 
Quote from T-Bone Trader:

Your charts suck big time! You need some technical indicators!

No offense.......just being completely honest
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Wow. I don't know what else to say. Just.... wow.
 
Quote from Lucrum:

Why? What are they going to tell him he can't already see in the price action?

No offense.......just being honest.
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lol, well said
 
Quote from jonathan734:

I am attaching a 5 min chart of the Eur/Usd. I wrote on them where my entry and exit for the trade was. I had already made a few other successful trades for the day and didn't want to lose anything so I exited, mainly because my 20/40 moving avgs crossed. I was hoping someone else could have told me a reason for exiting or staying in other than a gut feeling I had.

I was shorting all morning for 15 pips and waiting for the price to come back to the top of the channel before shorting again. So I am not sure if I am doing this right but I thought I would post up and let some people critique. This is done on a forex .com practice account. Thanks for the time guys.

Please excuse the the chart in paint. I am not very computer literate.
More...

Jonathan you posted a chart, good on yer , most people on here cant even be arsed to do that, quite amazing really.. Go through all the indicators if you wish, but to save urself some time, bin em......
 
Quote from Moderator:


you can't tell what it's indicating without an indicator just as you can't tell the trend without a trend thingy.

But obviously that's obvious
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Where would I find one of these trend thingy things, do they have them on eBay?

I need an indicator to indicate when my indicator is indicating as it's not obviously obvious sometimes, any suggestions?
 
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