Once a day Traders
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thread: Once a day Traders

  1. #1
    Junior Member dlxz's Avatar
    9

    Once a day Traders

    Here's what I do if I am pressed for time. Super Easy:

    1) Open an 8 hour chart.

    2) Employ a slow stochastics technical indior to the chart. Parameters are 14,3,8; thats K,D, and K slowing respectively.

    Notice: if you do not know how to use Slow Stochastics go http://www.investopedia.com/terms/s/...oscillator.asp to find out.

    3) as soon as the market is overbought. You put a sell stop order 3 pips below the low of the previous pub. Stop is put 4 pips the spread over the top of the preceding pub. Limit is in your discretion.

    4) Oversold will be precisely the opposite of overbought.

    5) Hint: Look in the weekly chart to begin with to get some idea about exactly what the longer term trend is. It is ok to take counter trend trades, keep in mind that they usually tend to be considerably smaller moves than trades that are going with the trend. Always wait for price to flip before entering a trade.

    Hope this helps.

  2. #2
    Junior Member oxrayvivayo's Avatar
    1
    Thank you for the mind cereal. I believe thats the best way you could have clarified finding a egy.


    Live a dream

  3. #3
    Junior Member dlxz's Avatar
    9
    I am into price action. I believe price gives me the truth about where the market has been and may want to go. In addition, I use time as a function of trading. I feel that is alomost as important. As a matter of fact time ties completely into my cash management.

  4. #4
    Senior Member Strikersipk's Avatar
    201
    Employing both time and price, you are able to identify price levels where there may be an imbalance of demand and supply.

    If price rallies to a level simply to remain briefly before rocketing south, you'll be reasonably sure that there's more supply at the level than demand. This means that the next time price reaches that level, there might be a pile of sell orders .

    It doesn't always work out for it, which explains the reason I prefer to make my TP three times larger than my SL.

    Don't trade into larger time frame levels (levels that are explained in the second paragraph of the post). A good illuion would be be cautious of a supply level on the 1h once the daily is nearing a demand level.

  5. #5
    I have seen alot of articles on a lot of distinct forums. What I typically see are just two things. First would be the crafty old timers that seem to understand everything about Foreign Exchange except how to make any money. Second are newcomers (I despise the word newbie) into the Foreign Exchange market.
    What I have found to be for the most part lacking is any sound trading advice.

    That said the first thing you have to understand about trading is that you want a egy that works, PERIOD! Without everything else you attempt; be it robots, cash management, R/R anything doesnt matter...
    Partially agree with you.
    Each article, site says about you want a trading plan. Some of they states about how should be a trading plan. Some of they says bout require a tested trading plan. To test a trading plan does not really says how long have to test... and the market change over the time. Maybe something worked in 2007 does not work now.
    Some people have heard, readed a plan, a setup. We're wondering whether is working for us can we do it. We're asking advices / review for giving or that our expertise. So in my opinion you will find working / tested methods / plans. How efficient are they vs others... is another question, but I can give you two setups that works, and so are liberated:

    A few pips gain, really safe: -I will not be trading this, I do not like it within my current broker, however using an ECN I shall do it. It's very important to understand and exercise, and when you fulfill the installation, you just know and it depends on you to apply your knowledge or not. Requires to much viewing the monitor for those a few pips. I would suggest as complementary installation and also with SL.
    Https://www.cliqforex.com/trading-sy...n-trading.html

    The following one:
    https://www.cliqforex.com/trading-sy...ers-gains.html
    Virtually Very Good installation. Compatible about what is stating in Jesse Livermore -Reminiscences Of A Stock Operator(my Bible), only the TP should be altered, I am trading other manners.

    Also I have posted working installments: London close and the ranging.
    Https://www.cliqforex.com/trading-sy...rade-data.html
    I am trading they on live account.

    I do not understand all about Foreign Exchange, I am to far away.
    Just begun to get a favorable balance after a few years of working out, I want to learn a lot too to become trader as my initial profession I want min 20.000 usd.

    And you've completely right here: when you have a trading plan the stress is gone. When anxiety is gone you can make better trades.

  6. #6
    Junior Member dlxz's Avatar
    9
    That is looking pretty good to me . 1/16/11 16:25 pm
    Sell on a stop @ 1.3311, stop 1.3461, TP 1.3011

    Stopped out (150)

  7. #7
    Junior Member dlxz's Avatar
    9
    Trade is not quite there yet. This really is a 1:3 rr I can change it to?

    Economy on a limit @ 132.35, cease 132.85, TP 130.85
    closed at 131.17 118 pips

  8. #8
    Junior Member dlxz's Avatar
    9
    This is what Im doing with All the EUR/JPY


    sell on a stop @110.01, Cease 111.05, TP 107.93
    stopped out (104)

  9. #9
    Junior Member dlxz's Avatar
    9
    I believe the EUR/USD is currently moving up. I look for assistance around 1.3370ish If I get Im buying. Looking to take profits about 1.3640ish
    buying on a stop @ 1.3488 stop 1.3410 limiit TBD (to be decided )
    stopped outside (78)

  10. #10
    Junior Member dlxz's Avatar
    9
    Going Extended at market time is 12:17 am stop is 130.51 Limitation TBD
    Entrance 131.14 stop 131.57 Limitation TBD
    closed out 132.08 94

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