And a happy new year to you and everyone else. Hard to tell what the market is doing on this last day of the month. Sometimes it bolts sometimes it doesn't because there is no such thing as the word usual in Forex. I am expecting to be disappointed ...

Trading the Cable swings via averages

Some common misconceptions here. There is no such thing as oversold/overbought. The RSI measures the strength of the move relative to past performance. The key level is the 50% so a move up from this represents more buying strength. A move down from ...

Trading the Cable swings via averages

I hope so.

Trading the Cable swings via averages

Yes, it can be used on any chart, You need to apply the 2 bar test to provide the entry and the stop. We also need to determine the target to see if the trade is worth it.

Trading the Cable swings via averages

Grrrrr $6.51 profit and off to bed. Too many tiny stop outs today the darn thing will not run in any direction for any length of time.

Trading the Cable swings via averages

It looks to me like this is simply a holding pattern to close out the month. The 4 hour is just bouncing along the EMA.

Trading the Cable swings via averages

Sorry I cannot comment on what you should do. If the trade looks wrong, I close it for the smallest loss I can.

Trading the Cable swings via averages

I am just taking little scalps today and only made $5.52 so far. image

Trading the Cable swings via averages

I set an initial stop that is half as much as my target. Then I move the stop as I add more entries.

Trading the Cable swings via averages

Well coming up to time and I can't see anything worth trading just yet. All the targets are tiny and not worth trading.

Trading the Cable swings via averages

Just to recap on the way I do it, here is a 5 min chart explanation. image We see we have a target 40+, worth a go. Once we get in, we move the stop to far less than 1%. We can add more trades if: (a) we want to make more profit. (b) we want take ...

Trading the Cable swings via averages

OK questions done now for the future. I will have my account setup with AUD$1500 for the start. The aim is to make 2% per day never risking more than 1%. I still want to stick to a minimum 40-pip target requiring a 20-pip initial stop. 2% of $1500 ...

Trading the Cable swings via averages

Can't help with this sorry, other than to say why not set up an MT4 ?

Trading the Cable swings via averages

The methods haven't changed at all. Target Timing' Risk Money management.

Trading the Cable swings via averages

It would be very difficult to make this % these days because of the change in leverage from 400:1 To 30:1

Trading the Cable swings via averages

I should be back in the trading seat on Monday 30th Jan

Trading the Cable swings via averages

The first thing to note about this chart is the convergence of the EMA's meaning this market time is as flat as a pancake. 1st question we ask is .. Is it worth trading for the risk involved? This is way before the 108 so don't expect too much it is ...

Trading the Cable swings via averages

Well season's greetings to one and all. Hot weather beacons me to the sea for a break. Hope to see everyone back in the new year ready to make some money. I will take my time off to reflect a little on how best I can make efficient use of my diary ...

Trading the Cable swings via averages

Hi. This is interesting in that it doesn't tell us very much more than the market movement which has little to do with the traders account movement. For my part I am finding it difficult to make my target in less than 25 days where when I had a ...

Trading the Cable swings via averages

I don't think I will trade today. Cannot tell if the daily is going to try to stop the rise of the EMA or are the bulls going to fight back with this daily bull div. Got cricket on the telly so all is good.

Trading the Cable swings via averages