Can YOU make money as a trader? | Page 15 | Metals Mine

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  • #281
  • Feb 14, 2018 10:59am Feb 14, 2018 10:59am
Quoting LuizGuilher
{quote} Do you use only USD/JPY? Or you have a long list for trading?
Pretty much only 3 markets on my radar! e/u, g/u, and u/j. As all markets pretty much trade with the same structural components, their is no need to spread myself out over 5 or 10 markets. The euro, pound, and yen surrounded by the U.S. dollar are the most heavily traded. I have found that selecting only a few markets to focus on and understanding their "characters" is all I need! There are other markets like emiinis, russell, dax, etc, but for me the currencies provide more consistent signals and allows me to approach the market in a relaxed way. My buddy GEfx above, has the tolerance and fortitude to take on more dynamic markets and is able manage them properly. Not an easy task, so hats off to him. You don't need or have to watch multiple markets, get to know the nuances of each, and pick the one or 2 that fits your style, as some are more volatile than others. It isn't how many markets you trade, it's how well you trade them. One market and only one market can serve you well, with proper sizing and risk control. Like I've said before, I don't require 300 pip bombs, not my style. If a trade is going my way, I'll hold on to it. But once I hit 40 -60 pip level on a trade, rest assured I'm not giving it back, as most rotations are within this range. But that's me, you have to decide what's good for you!!
  • #282
  • Edited 2:49pm Feb 14, 2018 11:06am | Edited 2:49pm
One more thing! Position sizing and risk control are key to any trading plan. But the power of compounding is often overlooked and makes a huge difference on the bottom line. Taking the same signals over and over again, but proportionately increasing your lot sizes after finding consistency in your trading plan definitely grows your account much faster than taking the same size trade each time. Got that one from good ol' Mr. Buffet. This is why I don't need to stretch my focus over many markets as only one serves me well!
  • #283
  • Feb 14, 2018 11:34am Feb 14, 2018 11:34am
Quoting nealpek
{quote} Pretty much only 3 markets on my radar! e/u, g/u, and u/j. As all markets pretty much trade with the same structural components, their is no need to spread myself out over 5 or 10 markets. The euro, pound, and yen surrounded by the U.S. dollar are the most heavily traded. I have found that selecting only a few markets to focus on and understanding their "characters" is all I need! There are other markets like emiinis, russell, dax, etc, but for me the currencies provide more consistent signals and allows me to approach the market in a relaxed...
Nealpek, I am in the midwest, CST. I often go to bed early and get up early and try to catch the London open or at least an hour afterwards (2 to 3 AM). And that works for now. But if I move on with life and have a family one day, getting up at 2 AM will probably be out of reach.

What time does your trading day normally start?
  • #284
  • Feb 14, 2018 11:42am Feb 14, 2018 11:42am
Quoting nealpek
{quote} Pretty much only 3 markets on my radar! e/u, g/u, and u/j. As all markets pretty much trade with the same structural components, their is no need to spread myself out over 5 or 10 markets. The euro, pound, and yen surrounded by the U.S. dollar are the most heavily traded. I have found that selecting only a few markets to focus on and understanding their "characters" is all I need! There are other markets like emiinis, russell, dax, etc, but for me the currencies provide more consistent signals and allows me to approach the market in a relaxed...
I like the way you arranged them from most to least reliable. Good ol' faithful E/U. She's damn hard to screw up with. U/J a little harder but likes to move a bit; good opponent for E/U because she likes to move opposite. Then we have that fine G/U gentleman. Well worth the time once you're doing it right.
"The fun is in the hunt. Not the kill."
  • #285
  • Feb 14, 2018 12:46pm Feb 14, 2018 12:46pm
I've got my second round of entries in on the G$ and E$. Up about 40 on both. These are the only pairs I'm trading now. Anyone else trading today?
  • #286
  • Edited 2:49pm Feb 14, 2018 12:50pm | Edited 2:49pm
Trade went exactly to target. Reentered for a second round higher hopefully!
Redeflect, reliabilty isn't an issue in my opinion as they all structurally trade the same way!

UNLV Trading day starts around 7 am eastern. Not being there for london used to bother me, but I realized I don't miss anything. As London is paramount to the day, it, as well as new york creates the structure necessary for my trading.

EDIT: UNLV. You play the markets, they don't play you! Get comfortable in your life, and fit trading around your lifestyle..I also used to stay up late for the open and walk around like a zombie, until I realized I wasn't missing anything. London and NY are the lions of the markets, and feed and play off of each other. My own logic dictates that they are one in the same, as NY controls the planet. London is just the baby brother. Todays target was after the "news" and just under the belly of NY open....Maybe that will give you some food for thought on which city dominated trade!!
  • #287
  • Feb 14, 2018 12:52pm Feb 14, 2018 12:52pm
Quoting nealpek
{quote} Pretty much only 3 markets on my radar! e/u, g/u, and u/j. As all markets pretty much trade with the same structural components, their is no need to spread myself out over 5 or 10 markets. The euro, pound, and yen surrounded by the U.S. dollar are the most heavily traded. I have found that selecting only a few markets to focus on and understanding their "characters" is all I need! There are other markets like emiinis, russell, dax, etc, but for me the currencies provide more consistent signals and allows me to approach the market in a relaxed...
I agree with you 100%. The first thing I do every day is simplify my trading list, reducing the 13 pairs I study to 3 to 5 pairs. Once done, I can get very focused on the pairs that are in sync with structure. This is an important step for me to mitigate risk. If you can get focused on the pairs that are, statistically, going to move, you're half way home. Good trading!
  • #288
  • Feb 14, 2018 12:53pm Feb 14, 2018 12:53pm
Quoting nealpek
Trade went exactly to target. Reentered for a second round higher hopefully! Redeflect, reliabilty isn't an issue in my opinion as they all structurally trade the same way! UNLV Trading day starts around 7 am eastern. Not being there for london used to bother me, but I realized I don't miss anything. As London is paramount to the day, it, as well as new york creates the structure necessary for my trading. {image}
Well done!
  • #289
  • Feb 14, 2018 12:57pm Feb 14, 2018 12:57pm
GEfx, you too my friend!
  • #290
  • Feb 14, 2018 1:12pm Feb 14, 2018 1:12pm
Quoting nealpek
Trade went exactly to target. Reentered for a second round higher hopefully! Redeflect, reliabilty isn't an issue in my opinion as they all structurally trade the same way! UNLV Trading day starts around 7 am eastern. Not being there for london used to bother me, but I realized I don't miss anything. As London is paramount to the day, it, as well as new york creates the structure necessary for my trading. EDIT: UNLV. You play the markets, they don't play you! Get comfortable in your life, and fit trading around your lifestyle..I also used to stay...
Nealpek, I appreciate it! You have given some great advice to me over the last few days. Stopping back by FF was well worth it. I hope other guys struggling take your advice with high consideration.
  • #291
  • Feb 14, 2018 1:24pm Feb 14, 2018 1:24pm
Quoting unlv_tj
{quote} Nealpek, I appreciate it! You have given some great advice to me over the last few days. Stopping back by FF was well worth it. I hope other guys struggling take your advice with high consideration.
They won't, lol. Your welcome! Just to further drive home the point about NY domination! Everyone makes a big deal about london and london open. I'm not around for london and that doesn't affect my bottom line. If you look at any futures volume, the heaviest vol comes in around 8-11 am est, not the london session!
  • #292
  • Feb 14, 2018 1:50pm Feb 14, 2018 1:50pm
Quoting nealpek
{quote} They won't, lol. Your welcome! Just to further drive home the point about NY domination! Everyone makes a big deal about london and london open. I'm not around for london and that doesn't affect my bottom line. If you look at any futures volume, the heaviest vol comes in around 8-11 am est, not the london session!
If you trade you should be prepared to trade any time (speaking uk/us open).

If US suits your style better, go for it
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #293
  • Feb 14, 2018 2:12pm Feb 14, 2018 2:12pm
I CAN trade anytime, I just love my zzzzzzz's better,lol. Always opportunity for pips in NY session!!
  • #294
  • Feb 14, 2018 2:16pm Feb 14, 2018 2:16pm
Quoting nealpek
I CAN trade anytime, I just love my zzzzzzz's better,lol. Always opportunity for pips in NY session!!
of course.sleep is good, very good.
But it hacks me off when people say ,Oh i cannot trade because of the time differance.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #295
  • Feb 14, 2018 2:23pm Feb 14, 2018 2:23pm
lol, When you love your "job" it isn't "work". First thing I do when I come to my cave in the morning is look at my screens and say, "Time to play!" for real....
  • #297
  • Feb 14, 2018 2:54pm Feb 14, 2018 2:54pm
Was the message not clear enough for you!!!

For the people mentioned above "Please refrain from commenting on any future postings I make on this or any other thread. I don't even want you to like or dislike any post."
I want no part of your mindset and no association with any of you whatsoever. I participate on FF for my own entertainment and pleasure. I hope this is clear enough for you!!
  • #298
  • Feb 14, 2018 4:52pm Feb 14, 2018 4:52pm
Here is the G$ chart from today after the initial reaction to US CPI. The E$ looks kinda similar.
Attached Image (click to enlarge)
Click to Enlarge Name: g$.gif Size: 29 KB
  • #299
  • Feb 14, 2018 6:11pm Feb 14, 2018 6:11pm
nice trade!!
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