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Posted: 1/20/2016 11:06:31 PM EDT
[#1]
Thank you for the info! When narrowing down to your 8-13 preferred pairs, what attributes do you look for in these? What are some of the common denominators that these "winning" pairs share? Is it primarily the same as stocks - Financials, technical, news, volume, etc, etc?
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Posted: 1/21/2016 6:16:58 AM EDT
[#2]
Quote HistoryQuoted:
Thank you for the info! When narrowing down to your 8-13 preferred pairs, what attributes do you look for in these? What are some of the common denominators that these "winning" pairs share? Is it primarily the same as stocks - Financials, technical, news, volume, etc, etc? The 8-13 pairs that i trade are the most traded / most common pairs. A lot of why I trade some of them is that they are correlated meaning that they move together or opposite of the other pair. Also they have a smaller spread (ie cost of trade). So even if i trade 4 or 5 its like I'm only trading 2 or 3 since they correlate. So you don't have to worry about "Financials" since the pairs are one country vs another. I don't put much into volume I mainly look at technical price action and you have to watch for NEWS. You don't need a big account to get into FX trading. Some people start off with $100 or $200 which is nice. |
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Posted: 1/21/2016 3:07:32 PM EDT
[#3]
Good stuff. Thank you!
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Posted: 1/21/2016 5:47:45 PM EDT
[#4]
Today i was testing a new strategy and it worked out quite well. Best so far, I will have to test this for a few more days to fine tune the rules. |
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Posted: 1/22/2016 2:11:01 PM EDT
[#5]
I downloaded a trial simulator from Forex.com just to play with and see if I can make any sense of it. I've got a long way to go before I'd feel comfortable investing my own money, but I took the $50k play money and turned it into $52k pretty easily. My concern is that if it's that quick/easy to make $2k, it's just as easy to lose...
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Posted: 1/22/2016 4:47:46 PM EDT
[#6]
Quote HistoryQuoted:
I downloaded a trial simulator from Forex.com just to play with and see if I can make any sense of it. I've got a long way to go before I'd feel comfortable investing my own money, but I took the $50k play money and turned it into $52k pretty easily. My concern is that if it's that quick/easy to make $2k, it's just as easy to lose... i would down load MT4 (MetaTrader 4) and you then you can create as many demo accounts as you would like. Also www.babypips.com is a good place to start. Yes, Risk Managment is a big part of FX. you can make a lot or loss a lot very fast. I trade based on what I'm willing to lose per trade, and how far you would like your stop loss. With that i know how big of a positions i can enter. What type of trading do you do? ----------- 
Today's P/L based on new strategy i started yesterday. Edit: I was overly caution today since there was a lot of economic news coming out through out the day. Edit: FX is leveraged 50:1 with US brokers so yes easy come, easy go. |
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Posted: 1/22/2016 5:04:01 PM EDT
[#7]
Quote HistoryQuoted:
i would down load MT4 (MetaTrader 4) and you then you can create as many demo accounts as you would like. Also www.babypips.com is a good place to start. Yes, Risk Managment is a big part of FX. you can make a lot or loss a lot very fast. I trade based on what I'm willing to lose per trade, and how far you would like your stop loss. With that i know how big of a positions i can enter. What type of trading do you do? ----------- http://stagextuning.com/imagebank/albums/userpics/10001/PL_01222016_01.png Today's P/L based on new strategy i started yesterday. Edit: I was overly caution today since there was a lot of economic news coming out through out the day. Quote HistoryQuoted:
Quoted:
I downloaded a trial simulator from Forex.com just to play with and see if I can make any sense of it. I've got a long way to go before I'd feel comfortable investing my own money, but I took the $50k play money and turned it into $52k pretty easily. My concern is that if it's that quick/easy to make $2k, it's just as easy to lose... i would down load MT4 (MetaTrader 4) and you then you can create as many demo accounts as you would like. Also www.babypips.com is a good place to start. Yes, Risk Managment is a big part of FX. you can make a lot or loss a lot very fast. I trade based on what I'm willing to lose per trade, and how far you would like your stop loss. With that i know how big of a positions i can enter. What type of trading do you do? ----------- http://stagextuning.com/imagebank/albums/userpics/10001/PL_01222016_01.png Today's P/L based on new strategy i started yesterday. Edit: I was overly caution today since there was a lot of economic news coming out through out the day. Are you trading Forex with binary options? The win/loss terminology in your daily reports are something new to me. |
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Posted: 1/22/2016 5:11:04 PM EDT
[#8]
Quote HistoryQuoted:
Are you trading Forex with binary options? The win/loss terminology in your daily reports are something new to me. Quote HistoryQuoted:
Quoted:
Quoted:
I downloaded a trial simulator from Forex.com just to play with and see if I can make any sense of it. I've got a long way to go before I'd feel comfortable investing my own money, but I took the $50k play money and turned it into $52k pretty easily. My concern is that if it's that quick/easy to make $2k, it's just as easy to lose... i would down load MT4 (MetaTrader 4) and you then you can create as many demo accounts as you would like. Also www.babypips.com is a good place to start. Yes, Risk Managment is a big part of FX. you can make a lot or loss a lot very fast. I trade based on what I'm willing to lose per trade, and how far you would like your stop loss. With that i know how big of a positions i can enter. What type of trading do you do? ----------- http://stagextuning.com/imagebank/albums/userpics/10001/PL_01222016_01.png Today's P/L based on new strategy i started yesterday. Edit: I was overly caution today since there was a lot of economic news coming out through out the day. Are you trading Forex with binary options? The win/loss terminology in your daily reports are something new to me. NO! No binary options for me. The binary options market is unregulated and there are some very shady brokers. There is a bit to the report. Which part is new to you? |
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Posted: 1/22/2016 5:15:16 PM EDT
[#9]
Oh I see. Well all of Forex is new to me but the win/loss stuff just seemed like something I thought might represent binary options. Your new system seems to be doing quite well. Congrats!
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Posted: 1/22/2016 6:23:38 PM EDT
[#10]
Quote HistoryQuoted:
Oh I see. Well all of Forex is new to me but the win/loss stuff just seemed like something I thought might represent binary options. Your new system seems to be doing quite well. Congrats! Thanks, the new system is doing well. I closed out the week quite well too. 
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Posted: 1/25/2016 10:01:37 PM EDT
[#11]
Not the best of starts for a Monday, but the market was a bit slow.
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Posted: 1/25/2016 10:38:54 PM EDT
[#12]
Quote HistoryQuoted:
Not the best of starts for a Monday, but the market was a bit slow. http://stagextuning.com/imagebank/albums/userpics/10001/PL_01252016_01.png Hmmm...Not sure how far I can pry this, your rules, you admit to dissecting technical analysis. Any hints into what patterns you follow? |
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Posted: 1/26/2016 5:16:44 AM EDT
[#13]
Quote HistoryQuoted:
Hmmm...Not sure how far I can pry this, your rules, you admit to dissecting technical analysis. Any hints into what patterns you follow? Quote HistoryQuoted:
Quoted:
Not the best of starts for a Monday, but the market was a bit slow. http://stagextuning.com/imagebank/albums/userpics/10001/PL_01252016_01.png Hmmm...Not sure how far I can pry this, your rules, you admit to dissecting technical analysis. Any hints into what patterns you follow? Mostly its watching price action, followed by support & resistance levels and trend lines. Then i look at a hand full of indicators and moving averages. Also I'm a scalper, i have yet to hold a trade longer then 12hrs. Most of my trades are done within a 2 hour time frame, unless its developing a strong move and i just keep moving my stop loss accordingly. I will be getting 2 additional monitors in the very near future. 
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Posted: 1/26/2016 12:12:19 PM EDT
[#14]
So what are the "rules" you live by when trading, or do you just go on gut? More clearly asked, do you set limits that auto sell your positions in the event of a free fall, or do you plan on a set return and sell there no matter what? Buddy does that, but hasn't been doing it long enough to give an opinion on whether or not it is working.
This is probably a dumb question, but I'll ask anyway in hopes of some insightful responses. Say that I am going to buy 5 different positions of equal value. I invest enough money that the fees are negligible so I ignore them in this scenario. In each position, I set a sell limit at -2% and +10%. My break even point, ignoring fees, is being right 20% of the time. Any case where I am right on 2 or more of the positions, I am making money. The application would be day trading on relatively volatile stocks. I guess I could use something like marketwatch to test this out and get an idea for how it would work over a couple of months to test the theory, but figured why not ask. |
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Posted: 1/26/2016 8:08:45 PM EDT
[#15]
Quote HistoryQuoted:
So what are the "rules" you live by when trading, or do you just go on gut? More clearly asked, do you set limits that auto sell your positions in the event of a free fall, or do you plan on a set return and sell there no matter what? Buddy does that, but hasn't been doing it long enough to give an opinion on whether or not it is working. This is probably a dumb question, but I'll ask anyway in hopes of some insightful responses. Say that I am going to buy 5 different positions of equal value. I invest enough money that the fees are negligible so I ignore them in this scenario. In each position, I set a sell limit at -2% and +10%. My break even point, ignoring fees, is being right 20% of the time. Any case where I am right on 2 or more of the positions, I am making money. The application would be day trading on relatively volatile stocks. I guess I could use something like marketwatch to test this out and get an idea for how it would work over a couple of months to test the theory, but figured why not ask. Yes, your risk management would put you at needing to be 20% right to be around break even. Risk Management is the biggest one to follow, and I would say very little to no gut. One of the hardest is keeping your emotions in check. Like i said i don't do stocks anymore. But if you are going to day trade keep in mind of the day trading rule and don't get yourself stuck in a trade. like i have said with FX there is a lot less volatility which makes it IMO easier to trade. This is what happens when you don't follow your rules (the Trend is your Friend) but its a bit more complicated then that. 
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Posted: 1/28/2016 12:41:24 PM EDT
[#16]
Well the demo I've been using has worked out pretty well so far. In a little over a week I've gone from the $50k play fund balance to $67k. My strategy is to watch daily/hourly behavior of each of the funds, pick where I think there's a low, and then ride it back up. When it hits the green at a point I'm comfortable with, I dump it. So far I have not taken a loss on a single exchange and I've done probably 30. I try not get hung up on finding the top of the curve, but always make it a point to sell when positive. I'm sure your analysis is much more technical than mine, so maybe I've just gotten lucky but so far all of this appears to be cyclical. I figure the major funds are never going to truly tank unless there's a big event, so in my mind those are the most safe. I could be completely wrong but it's worked out well for me so far...A little more time and I may have to throw some of my own skin in the game. |
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Posted: 1/28/2016 5:41:43 PM EDT
[#17]
ssramage, are you using some gaming application to try this out with play money?
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Posted: 1/28/2016 6:34:39 PM EDT
[#18]
Quote HistoryQuoted:
ssramage, are you using some gaming application to try this out with play money? Yes. I just downloaded the Forex.com demo app on my phone. |
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Posted: 1/31/2016 5:29:07 PM EDT
[#19]
Quote HistoryQuoted:
Well the demo I've been using has worked out pretty well so far. In a little over a week I've gone from the $50k play fund balance to $67k. My strategy is to watch daily/hourly behavior of each of the funds, pick where I think there's a low, and then ride it back up. When it hits the green at a point I'm comfortable with, I dump it. So far I have not taken a loss on a single exchange and I've done probably 30. I try not get hung up on finding the top of the curve, but always make it a point to sell when positive. I'm sure your analysis is much more technical than mine, so maybe I've just gotten lucky but so far all of this appears to be cyclical. I figure the major funds are never going to truly tank unless there's a big event, so in my mind those are the most safe. I could be completely wrong but it's worked out well for me so far...A little more time and I may have to throw some of my own skin in the game. There is almost zero possibility for a pair to go to "0". remember they are not funds, its once currency vs another. So its the strength of one country vs another. |
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Posted: 2/2/2016 6:50:48 PM EDT
[#20]
The setup
the fifth monitor died on Sunday it was only an older 21" I had a ruff Monday but I almost recovered all of it today. only down 550 for the week so far. |
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Posted: 2/2/2016 10:12:46 PM EDT
[#21]
Quote HistoryQuoted:
The setup http://stagextuning.com/imagebank/albums/userpics/10001/20160202_174237.jpg the fifth monitor died on Sunday it was only an older 21" I had a ruff Monday but I almost recovered all of it today. only down 550 for the week so far. Very cool, you mentioned you do work at some point in this thread(or maybe the one that started this). About how many hours a week do you spend trading? Do you rely on stop limits more when time is tight or do you just not trade as much. I really like your set up. I've wanting to do something like that for years, I feel the confidence boosting factor would be worth it, as long as you use that confidence wisely. |
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Posted: 2/3/2016 3:48:44 AM EDT
[#22]
Quote HistoryQuoted:
Very cool, you mentioned you do work at some point in this thread(or maybe the one that started this). About how many hours a week do you spend trading? Do you rely on stop limits more when time is tight or do you just not trade as much. I really like your set up. I've wanting to do something like that for years, I feel the confidence boosting factor would be worth it, as long as you use that confidence wisely. Quote HistoryQuoted:
Quoted:
The setup http://stagextuning.com/imagebank/albums/userpics/10001/20160202_174237.jpg the fifth monitor died on Sunday it was only an older 21" I had a ruff Monday but I almost recovered all of it today. only down 550 for the week so far. Very cool, you mentioned you do work at some point in this thread(or maybe the one that started this). About how many hours a week do you spend trading? Do you rely on stop limits more when time is tight or do you just not trade as much. I really like your set up. I've wanting to do something like that for years, I feel the confidence boosting factor would be worth it, as long as you use that confidence wisely. I would say that I trade around 27.5 hours a week. Most days I get up around 1:30am and trade until I go to work anywhere from 6am to 8:30am. My wife quit her job to start trading full time. So, a lot of the time I will start a trade and she will close them out. She trades from from around 4am or 5am to around 1pm. But yes, we will us a stop loss and take profit. Also we us trailing stops a lot. |
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Posted: 2/3/2016 8:12:08 AM EDT
[#23]
Good stuff! You sound like a man with a plan, I respect that. Also, you almost sneaked the CZ75(?) by me in the pic above.
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Posted: 2/3/2016 8:25:39 AM EDT
[#24]
Quote HistoryQuoted:
Good stuff! You sound like a man with a plan, I respect that. Also, you almost sneaked the CZ75(?) by me in the pic above. CZ 2075 RAMI |
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Posted: 2/19/2016 7:53:44 PM EDT
[#25]
A little bit of an update
Last weeks trades 
This weeks trades 
Risk probability 
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Posted: 2/22/2016 3:53:58 PM EDT
[#26]
I just started playing around with it today, using some basics of technical trading.
Holy crap, the spread is rough to beat for intraday trading. I'm guessing a bit longer timespan is usually used by guys who do this often? I'm a buy and hold equity guy, just thinking about playing around a bit on the side with trading Forex, but damn the spreads can be so large compared to the movements that it seems hard to turn a profit. Of course, I've been at it for, oh.....3 hours so far. |
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Posted: 2/23/2016 3:37:23 AM EDT
[#27]
Quote HistoryQuoted:
I just started playing around with it today, using some basics of technical trading. Holy crap, the spread is rough to beat for intraday trading. I'm guessing a bit longer timespan is usually used by guys who do this often? I'm a buy and hold equity guy, just thinking about playing around a bit on the side with trading Forex, but damn the spreads can be so large compared to the movements that it seems hard to turn a profit. Of course, I've been at it for, oh.....3 hours so far. What broker are you testing with, because my spreads range from, .05 to 2.1. Most are in the .05 to 1.5 range. Some brokers change the spread to include the commission. So, no I'm in and out in a sort amount of time. I do scalp trading 95% of the time using the 5 and 15 minute charts. Most pairs that i trade move 100+ pips so even a spread of 3 is nothing when compared to the moves. Also the spread opens up depending on the time of day, or there is news coming out. |
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Posted: 2/23/2016 9:23:04 AM EDT
[#28]
forex.com, using the Metatrader4 that was suggested.
After playing around a bit, I've found some better pairs with less of a spread. Some that I were "trading" had awesome technical indicators, but also had 1000 pip spreads. I've since changed the format to allow me to see exactly what the spread is. That being said, seems interesting. I've "made" about $940 in play money on a $10k investment since yesterday. I'll play around with it for a few months, and then maybe throw a TINY bit of money in. Are their brokers available that will let someone play around with $1k? |
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Posted: 2/23/2016 9:41:46 AM EDT
[#29]
Quote HistoryQuoted:
forex.com, using the Metatrader4 that was suggested. After playing around a bit, I've found some better pairs with less of a spread. Some that I were "trading" had awesome technical indicators, but also had 1000 pip spreads. I've since changed the format to allow me to see exactly what the spread is. That being said, seems interesting. I've "made" about $940 in play money on a $10k investment since yesterday. I'll play around with it for a few months, and then maybe throw a TINY bit of money in. Are their brokers available that will let someone play around with $1k? do the research on the broker before setting up the account Brokers try to stay away from "Market maker" type brokers |
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Posted: 2/23/2016 10:01:04 AM EDT
[#30]
Thanks, after a bit of research there seems to be a lot of recommendations for FXCM for small time guys based in the US.
I just downloaded their platform and started a $2k demo account to play around with it a bit. |
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Posted: 2/23/2016 7:13:41 PM EDT
[#31]
Went live this week with my account after 4 months of testing and learning.
Not bad for my first 2 days 
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Posted: 2/23/2016 10:30:02 PM EDT
[#32]
Quote HistoryQuoted:
Went live this week with my account after 4 months of testing and learning. Not bad for my first 2 days http://stagextuning.com/imagebank/albums/userpics/10001/PL_w08.png Some fine tuned algorithm you've got there sir. Congrats! |
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Posted: 2/24/2016 3:12:37 AM EDT
[#33]
Quote HistoryQuoted:
Some fine tuned algorithm you've got there sir. Congrats! Quote HistoryQuoted:
Quoted:
Went live this week with my account after 4 months of testing and learning. Not bad for my first 2 days http://stagextuning.com/imagebank/albums/userpics/10001/PL_w08.png Some fine tuned algorithm you've got there sir. Congrats! Thank You |
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