OK baro you first. I'm sure that chart means something to you,but I need a little help. Again a play by play would be nice. Tell us what's going on here.
What is the best time of the day to trade?
- Thread starter Lloyd W. Coutee
- Start date
Hi BN, interesting approach for the analysis...
Why currencies? I used to trade them alongside mostly equity options. Never made any money on currencies, but it made me aware of bigger picture--global money flows. For instance at this moment I just sold out of a long gold position since 3pm ET. Immediately added long euro, added to Aussie. Small. I've been on mostly the other side of the market for days and days. The gold trade came partly from the bond selloff. I like the ability to get really small size in currencies. Right now I'm working on one percent gains per day in a hypothetical 500 dollar account, just hitting singles and working on my consistency. I'd trade live almost exactly the same. It's a 50k demo but its stupid to be swinging big lots if I have no intention of trading that way live. If I can be consistent at that small level I'll bump it up. When I traded equities well it was someone else's money. Need to do same at home. Its hard to trade that small even with options. Plus everything else is invested in a big truck right now, which I still need to get on the road and work to build a bigger stake. It's all part of the plan, but its also a work in progress. Thankfully I can still read the markets--Swimr
buy 1..sell 2..buy 2..etc..etc
only change direction when broad market has turned..like all trading..u will not be right a good few times..but overall..u win..as u will catch the bigger moves..and they will cover the smaller losers plus some profit left over
J_S
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u are right to demo if being away a while..i was the same..it has taken me months to get back into the way i used to think..i could not believe how much stuff i had forgotten..but it does come back once u look at the markets on a daily basis..funny enough..even though crude oil is manipulated..there are some good opps using options on futures or etf..much less riskier than outright futures if u can't be glued to the screen when trading crude
J_S
Did you develop system? Or did it come out of,a can?
no can
..i can tell u honestly that all of the books and courses i bought years ago..were just a waste of time..learned the hard way..was lucky to trade with a very small few that knew what they were doing..opened my eyes..as i keep saying..u will never see the '"real" good stuff published..for if it was it would be rendered useless once the masses got their hands on it..that said..once u are level headed..dont risk too much per trade..can accept losses and learn from them..then anyone can make money trading..but very few will make big money..as timing the market is an art..and we all know how few "real" artists there really were..not like the modern day crap they call art
J_S
Koolno can
that said..once u are level headed..dont risk too much per trade..can accept losses and learn from them..then anyone can make money trading..but very few will make big money..as timing the market is an art..and we all know how few "real" artists there really were..not like the modern day crap they call art
J_S
Without giving away the recipe for the secret sauce, what's it based on? You're talking to a tape reader--dont use indicators. Maybe a trend line. I know if they are pointed up, down or sideways.--Swimr