Still a good take. What kind of strategy do you use? If you dont mind sharing.
anybody in here do currency trading (forex)? i heard u can make $$$$
- Thread starter Xtraz2
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Still a good take. What kind of strategy do you use? If you dont mind sharing.
dontreadthis
philly.
for the uninformed, how did this stuff play out almost three years later?
Domingo Halliburton
Handmade in USA
Yen is about 120 per USD. So I was right in saying short the yen against the US dollar. Like i said in the post though the central bank in Japan wanted to devalue their currency so the move was pretty telegraphed.
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smh
I got out of that shyt trying to be safe
had I just waited an hour I would've won
fine line between being greedy and being p*ssy in Fx
I got out of that shyt trying to be safe
had I just waited an hour I would've won
fine line between being greedy and being p*ssy in Fx
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3-SMA (simple moving average) Crossover.
1hr Chart (for my actual entries)
4hr Chart (to determine long-term trend, i.e - bearish or bullish?)
15m Chart (micro-view on what's happening with price action)
i only take entries when ALL THREE time frames line-up. i don't use a stop loss either.
taking into account multiple time frames allows u to get a better grasp of what's happening with price. i'm really only looking at 15m/1hr/4hr when I open a position. i monitor the daily/weekly/monthly charts here and there, but only to see what BIGGER formations are forming. the reason you want the larger trend on your side is bc normally if you're going the direction of the trend you can usually either break-even and get out or still Take Profit. look at the trade i carried over from Friday to Sunday... was going the same direction of the long-term trend and i would've won an extra $650.00 by 7:00pm my time. now, had i been going long at ANY TIME on G/U in December i'd have blown that account by now.
fundamentals are cool but technical analysis is my thing, im a day-trader. i only trade what's on the charts. there was bad US news today but USD still kicked every currency's ass today ... why? idc and idk, but i trade the charts and would've made $$$$ today if I actually traded on Mondays. still, i don't take entries before important US Data releases. on NFP day i don't open any trades before 7:30am CST. during the week of FOMC i usually don't even trade until after Wednesday. i dont trade the solo London session, and mainly only trade the NYC/London overlap. i don't bother with the Asian session at all. i do all of this to filter out BAD setups and only take high-probability ones. i only trust NYC/London.
when the Swiss National Bank interfered with Euro a year or so ago it happened in London's solo session. i avoided that tragedy completely by not having any positions open during unwanted times. little things like this is what keeps your account alive.
now, about a year or so ago i setup shop with an offshore broker that accepts US citizens. i did this bc the CTFC limits US Traders to 1:50 leverage. which is "ok", the winning trades I posted a few pages ago from OANDA are when I traded with 1:50. i had $15,000-$25,000 when I traded with OANDA and was only making $350-$750.00 on trading days. overseas i can use up to 1:500 and 1:1000 leverage. which means I DON'T have to have $15,000 sitting in a trading account. i can use $2-7k and make that same amount of money (and 2x more) and keep the rest of my trading funds in a FDIC insured bank and chill. i withdraw after every winning trade usually. i really only keep enough in my trading account for margin.
this is from earlier this year when i was trading with 10.00 lots. i would win $1k per trade and my broker overseas would wire it to one of my dummy bank accounts here in Texas. during holidays i scale back to 5.50 lots and 6.50 lots bc holiday trading is more suspect to volatile spikes:
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disclaimer: everything I do as a trader is based on research i've conducted over the course of maybe 10,000 trades.
i do not recommend anyone to take anything i say/do as financial advice.
i am a daredevil. i have more or less dedicated my life to commodities trading.
the methodologies i employ are not conventional and go against what is in formal educationaries
i do not recommend anyone to take anything i say/do as financial advice.
i am a daredevil. i have more or less dedicated my life to commodities trading.
the methodologies i employ are not conventional and go against what is in formal educationaries
I knew you were a cowboy when you said you dont use stop loss. Its obvious that you know what youre doing and it works. Thanks for sharing breh.
How many live accounts have you blown through if any?
Is your broker stp or dealing desk?
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have blown zero live accounts. but i've taken losses definitely and still do here & there based on human error.
i've blown demo accounts bc i use demo accounts to get a "feel" of the market b4 entering with my live account.
and i think they offer both... my MT4 account has super low fixed floating spreads and zero commission.
i've blown demo accounts bc i use demo accounts to get a "feel" of the market b4 entering with my live account.
and i think they offer both... my MT4 account has super low fixed floating spreads and zero commission.
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I'm thinking about getting back into stocks though
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Realistically how profitable is fx trading seems like there is alot of 
in the industry im going to have some money to play around with and im happy if i can at least make $500 in profit per month. what's the % that is actually seeing a profit
in the industry im going to have some money to play around with and im happy if i can at least make $500 in profit per month. what's the % that is actually seeing a profit
Domingo Halliburton
Handmade in USA
Realistically how profitable is fx trading seems like there is alot of
I know retail doesn't fare well in forex but like anything you have to know what you're doing.
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Walked over a few land-mines this week and sat out from Mon.-Weds.
FOMC on Wednesday...
whipsaw after Unemployment Claims on Thursday...
Non-Farm Employment Change on Friday...
First week of live-trading in 2016 and I wanted to play it safe. I'm still in Holiday mode so I'm not risking the full 10.25 lots I normally would ... not until January gives me a definite trend across the board. Won $637.00 in about 35 minutes which is my average trading time so there's that. Looked for a re-entry but London was packing up around then and all I saw were retractments. G/U & G/J r trending beautifully & E/U is slaughtering accounts.
Underwhelming profit-wise... but some weeks r more-so about "surviving" with ur balance in-tact and not necessarily "making money". I don't care if I'm not making money so long as I'm not losing it. A few swing-traders I converse with got stopped out. I don't use a SL period so I have to be more tactful with shyt.
FOMC on Wednesday...
whipsaw after Unemployment Claims on Thursday...
Non-Farm Employment Change on Friday...
First week of live-trading in 2016 and I wanted to play it safe. I'm still in Holiday mode so I'm not risking the full 10.25 lots I normally would ... not until January gives me a definite trend across the board. Won $637.00 in about 35 minutes which is my average trading time so there's that. Looked for a re-entry but London was packing up around then and all I saw were retractments. G/U & G/J r trending beautifully & E/U is slaughtering accounts.
Underwhelming profit-wise... but some weeks r more-so about "surviving" with ur balance in-tact and not necessarily "making money". I don't care if I'm not making money so long as I'm not losing it. A few swing-traders I converse with got stopped out. I don't use a SL period so I have to be more tactful with shyt.
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EURUSD weekly chart ... feel sorry for the retail people that have money tied up into this thing
Previous 4 weeks/candlesticks have been sideways, it's due for a breakout eventually. Next week G/U has MPC Official Bank Rate Votes so I'll have turbulence of my own to deal with.
Previous 4 weeks/candlesticks have been sideways, it's due for a breakout eventually. Next week G/U has MPC Official Bank Rate Votes so I'll have turbulence of my own to deal with.
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Domingo Halliburton
Handmade in USA
What's your rationale by not using a stop-loss?
I know you racked up today shorting gbp/usdEURUSD weekly chart ... feel sorry for the retail people that have money tied up into this thing
Previous 4 weeks/candlesticks have been sideways, it's due for a breakout eventually. Next week G/U has MPC Official Bank Rate Votes so I'll have turbulence of my own to deal with.