FX - Trading the Daily's
- Thread starter abhi_neth
- Start date
Re: 4X - Trading the Daily's
Crossover of 9-SMA above the Middle BB was confirmed yesterday.....& Trade was taken today in the evening on pullback..... green dotted line is the Trade Line.
Image Shows all the Pairs including Gold which was a request from me to Abhi to give a list of pairs that he would like traded in this strategy.
Later on I shall post all the rules for going Long & Short.
Taking other Trades within the same Daily TF.... will come as trades unfurl in the future......
USDJPY-Daily
SG
Crossover of 9-SMA above the Middle BB was confirmed yesterday.....& Trade was taken today in the evening on pullback..... green dotted line is the Trade Line.
Image Shows all the Pairs including Gold which was a request from me to Abhi to give a list of pairs that he would like traded in this strategy.
Later on I shall post all the rules for going Long & Short.
Taking other Trades within the same Daily TF.... will come as trades unfurl in the future......
USDJPY-Daily
SG
Before we go ahead with the thread, A note on how to read the charts would be helpful..
Like,
If we are following a particular pattern.. we need to keep seeing the same pattern again and again, and keep checking what works and what does not work ...
Like if the pattern or method [ like crossover] works 70 out of 100 times [ 70% of the times]
We need to identify why it doesnt work the 30% of the times, if there are clues we can follow which allows us to discard these trades.. Then we will have a tremendous edge in trading that pattern alone..
I am saying this because, i have been progressing a lot by history of such trades...
If we can follow this in our thread.. Then it will make our learning curve steeper
So for this, all we need to do is, post charts as to when it worked and when it didn't.. When we do it overtime, we will realize somethings which we would have ignored..
Regards
Like,
If we are following a particular pattern.. we need to keep seeing the same pattern again and again, and keep checking what works and what does not work ...
Like if the pattern or method [ like crossover] works 70 out of 100 times [ 70% of the times]
We need to identify why it doesnt work the 30% of the times, if there are clues we can follow which allows us to discard these trades.. Then we will have a tremendous edge in trading that pattern alone..
I am saying this because, i have been progressing a lot by history of such trades...
If we can follow this in our thread.. Then it will make our learning curve steeper
So for this, all we need to do is, post charts as to when it worked and when it didn't.. When we do it overtime, we will realize somethings which we would have ignored..
Regards
Hi Bigbear,
All valid & important points raised by you......
Like I said in the previous post.... later in the night will first Post the rules for this Strategy.....
Reason for taking this first trade is explained.... crossover was confirmed yesterday.... and today...we got a nice pullback for entry.....
Therefore taking actual trade as per the Strategy...will either validate the Rules in place.....when it doesn't.....resulting in a loss.... we shall look into the reasons as & when we come across it.... this exercise shall be carried on for anything between 6-12 months....thereafter we shall distill everything that we have learnt.... & close the thread....!!!
SG
All valid & important points raised by you......
Like I said in the previous post.... later in the night will first Post the rules for this Strategy.....
Reason for taking this first trade is explained.... crossover was confirmed yesterday.... and today...we got a nice pullback for entry.....
Therefore taking actual trade as per the Strategy...will either validate the Rules in place.....when it doesn't.....resulting in a loss.... we shall look into the reasons as & when we come across it.... this exercise shall be carried on for anything between 6-12 months....thereafter we shall distill everything that we have learnt.... & close the thread....!!!
SG
Before we go ahead with the thread, A note on how to read the charts would be helpful..
Like,
If we are following a particular pattern.. we need to keep seeing the same pattern again and again, and keep checking what works and what does not work ...
Like if the pattern or method [ like crossover] works 70 out of 100 times [ 70% of the times]
We need to identify why it doesnt work the 30% of the times, if there are clues we can follow which allows us to discard these trades.. Then we will have a tremendous edge in trading that pattern alone..
I am saying this because, i have been progressing a lot by history of such trades...
If we can follow this in our thread.. Then it will make our learning curve steeper
So for this, all we need to do is, post charts as to when it worked and when it didn't.. When we do it overtime, we will realize somethings which we would have ignored..
Regards
Like,
If we are following a particular pattern.. we need to keep seeing the same pattern again and again, and keep checking what works and what does not work ...
Like if the pattern or method [ like crossover] works 70 out of 100 times [ 70% of the times]
We need to identify why it doesnt work the 30% of the times, if there are clues we can follow which allows us to discard these trades.. Then we will have a tremendous edge in trading that pattern alone..
I am saying this because, i have been progressing a lot by history of such trades...
If we can follow this in our thread.. Then it will make our learning curve steeper
So for this, all we need to do is, post charts as to when it worked and when it didn't.. When we do it overtime, we will realize somethings which we would have ignored..
Regards
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