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Flying Dutchman

  • #6,641
  • Mar 15, 2023 5:02am Mar 15, 2023 5:02am
To me there is a case to say
We get too close to see anything at times ?
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  • #6,642
  • Mar 15, 2023 5:16am Mar 15, 2023 5:16am
Quoting OAPDave
To me there is a case to say We get too close to see anything at times ? {image} {image}
It all depends on your trading perspective.

You could be too far away also.
It never gets easier, you just get better
  • #6,643
  • Mar 15, 2023 5:27am Mar 15, 2023 5:27am
Quoting turnip15
Dax scalp mode. Have put in levels Kevin often speaks about and which I find useful. And my trusty Laura "Roadmap." {image}

I think profit taking is in order here at Prev. low. Don't want to give back or push my luck and my morning stint is over ( after 10amUK)
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every Saint has a past. Every Sinner has a Future
  • #6,644
  • Mar 15, 2023 5:31am Mar 15, 2023 5:31am
I stopped updating the charts at the 6th iteration lol

200 pips from the London Open,
I snagged an extra +11 in there , but a top day hahaaa. Couldn't stop looking tho

Perfection in the seven stations it ran (so far) and ain't ended yet maybe, who knows, not me.

.
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  • #6,645
  • Mar 15, 2023 5:33am Mar 15, 2023 5:33am
Oh yeah, the news release.

https://www.forexlive.com/news/japan...wide-20230315/


Japan PM Kishida says aiming to raise minimum wages beyond ¥1,000 nationwide

For some context, the minimum wage in Japan now is ¥961, which will kick into effect in the next fiscal year starting April. So, at the minimum that's at least a 4% increase. Other worker unions are likely to see a higher average bump in wages
  • #6,646
  • Mar 15, 2023 5:36am Mar 15, 2023 5:36am
Quoting Ihlas
{quote} It wasn't me! Something is happening.
Bam eliminated
  • #6,647
  • Mar 15, 2023 5:50am Mar 15, 2023 5:50am
Quoting TimeTells
Oh yeah, the news release. https://www.forexlive.com/news/japan...wide-20230315/ Japan PM Kishida says aiming to raise minimum wages beyond ¥1,000 nationwide For some context, the minimum wage in Japan now is ¥961, which will kick into effect in the next fiscal year starting April. So, at the minimum that's at least a 4% increase. Other worker unions are likely to see a higher average bump in wages
Thats like JPY will be £6.20 p/hr , so an increase of 20p

I didn't realise it was that low compared to UK @ £10.42, USA @ £9.29 not offered qualifying health insurance and AUS @ 11.81 per hr.

Coverted all to £ at current rates of exchange.
It never gets easier, you just get better
  • #6,648
  • Edited 6:09am Mar 15, 2023 5:51am | Edited 6:09am
Quoting Shabs19
{quote} It all depends on your trading perspective. You could be too far away also.
Shabs
Yes I take your point, but I think we all have the same objectives, that's to make a profit from our trading
You have found your edge with a very ridge approach and a fix set of ,lets say rules
But you still have a stop and a target that you need to but into place by pressing the button with your finger
All I am saying is
I want to trade but I do not want to sit hour upon hour, day after day screen watching
If I make a plan, test it , see within reason what stops and target need , does it match my account etc
I can set it all up by various orders and wait for it to happen good or bad
If need be, once the trade becomes live I can tweak it till my hearts content
Over the last few days there as been much heated debate over lets just say (direction) well surely if we believe in 1 min pin bars we should believe in Daily, Weekly and Monthly Candles
Some guys just want a little extra cash and just how ever much the want to give up the day job, they just cannot
  • #6,649
  • Mar 15, 2023 6:07am Mar 15, 2023 6:07am
Quoting Shabs19
{quote}
Thats like JPY will be £6.20 p/hr , so an increase of 20p I didn't realise it was that low compared to UK @ £10.42, USA @ £9.29 not offered qualifying health insurance and AUS @ 11.81 per hr. Coverted all to £ at current rates of exchange.

Look Shabs, that is all very well.

But until I can get a proper reference point, I just dont know what all this money conversion means

Can you give me some idea of the relative costs of certain things between Aus & Jpn, that are important please

.
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  • #6,650
  • Mar 15, 2023 6:14am Mar 15, 2023 6:14am
Beer is one way to compare, but as u know TT, the big fund managers use the Big Mac Index for country comparisons

https://www.statista.com/statistics/...for-a-big-mac/
  • #6,651
  • Edited 6:42am Mar 15, 2023 6:32am | Edited 6:42am
Quoting OAPDave
{quote} Shads Yes I take your point, but I think we all have the same objectives, that's to make a profit from our trading You have found your edge with a very ridge approach and a fix set of ,lets say rules But you still have a stop and a target that you need to but into place by pressing the button with your finger All I am saying is I want to trade but I do not want to sit hour upon hour, day after day screen watching If I make a plan, test it , see within reason what stops and target need , does it match my account etc I can set it all up by...
Your last point, about giving up a day job. You don't need to, it really boils down to how you trade & plan your trades.

If you need to continuously monitor your trades, or if you are starting to make some serious bucks that can replace your salary & more, then maybe.

But I think you don't need to. If you are constantly tweaking your trades once they are live ? is that stoploss placement or locking in profits ?
You are not moving SL when you are experiencing DD are you ?

Trade direction, I like to say that I can tell more times than not. I think this comes down to experience and how a particular instrument behaves at Mkt Opens, News Events and even days of the week. There has been a lot of good discussion on this thread about that.

Your lot sizes will change depending on the risk, so overall if your capital is fixed amount, your chosen TF becomes important.

I have not gone down to 1m bars, though many here do, it is their choice, essentially I can see the number of days action I want to see,
by varying my Set-up TF.

Edit: my typos are getting worse, a new keyboard is needed.
It never gets easier, you just get better
  • #6,652
  • Mar 15, 2023 6:38am Mar 15, 2023 6:38am
Quoting TimeTells
{quote} Look Shabs, that is all very well. But until I can get a proper reference point, I just dont know what all this money conversion means Can you give me some idea of the relative costs of certain things between Aus & Jpn, that are important please . {image} {image}
I think the governments just allow you enough money to standstill financially.

So you never get too cocky & above your station.

Your needs are Food, Drink Rent/mortgage, Utility Bills & entertainment.

As long as you can afford that, there won't be a riot on the streets and the billionaires & millionaires can have their Champagne, yachts & dolly birds.
It never gets easier, you just get better
  • #6,653
  • Mar 15, 2023 6:57am Mar 15, 2023 6:57am
Quoting Shabs19
{quote} Your last point, about giving up a day job. You don't need to, it really boils down to how you trade & plan your trades. If you need to continuously monitor your trades, or if you are starting to make some serious bucks that can replace your salary & more, then maybe. But I think you don't need to. If you are constantly tweaking your trades once they are live ? is that stoploss placement or locking in profits ? You are not moving SL when you are experiencing DD are you ? Trade direction, I like to say that I can tell more times than not....
Think it depends on
The size and composition of your Trading Portfolio
  • #6,654
  • Mar 15, 2023 8:08am Mar 15, 2023 8:08am
Quoting OAPDave
{quote} Think it depends on The size and composition of your Trading Portfolio
I am talking about your Capital allocated only to trading Forex and what your objectives are for growing it and whether it can replace your income from your employment or career.
It never gets easier, you just get better
  • #6,655
  • Mar 15, 2023 8:17am Mar 15, 2023 8:17am
Quoting TimeTells
{quote} Look Shabs, that is all very well. But until I can get a proper reference point, I just dont know what all this money conversion means Can you give me some idea of the relative costs of certain things between Aus & Jpn, that are important please . {image} {image}
Is that Japanese beer any good?

Mark ... Everything you have been told is a LIE
  • #6,656
  • Mar 15, 2023 8:22am Mar 15, 2023 8:22am
Quoting spzd
{quote} Is that Japanese beer any good?
Makes all the candles look bigger & more colourful.
It never gets easier, you just get better
  • #6,657
  • Mar 15, 2023 8:31am Mar 15, 2023 8:31am
Quoting Shabs19
{quote} Makes all the candles look bigger & more colourful.
That works then ...
Mark ... Everything you have been told is a LIE
  • #6,658
  • Mar 15, 2023 8:31am Mar 15, 2023 8:31am
Quoting Shabs19
{quote} I am talking about your Capital allocated only to trading Forex and what your objectives are for growing it and whether it can replace your income from your employment or career.
Thank you
That's a very interesting reply
Could you give me an idea of what size account I would need to be able to turn pro
  • #6,659
  • Mar 15, 2023 8:43am Mar 15, 2023 8:43am
Quoting TimeTells
{quote}. {image} {image}
Looks like a one-candle chart, with the upper shadow only.
Success = Practice + Patience + Persistence
  • #6,660
  • Mar 15, 2023 8:45am Mar 15, 2023 8:45am
Quoting spzd
{quote} Is that Japanese beer any good?
Depends on who and what, are you having with.
Success = Practice + Patience + Persistence
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