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- pip_daddy replied Sep 3, 2010
If I can just jump in on one thing you said. I hope you do not feel bad because you only made 11 trades (which are more than I made btw). I don't think that is as important as waiting for the right moment on whatever time frame you prefer entering ...
- pip_daddy replied Sep 3, 2010
IMHO, 2% is quite high when you are making lots of entries on 5min. You could have serious drawdown quite quickly. I try never go above 0.5%. When you are stacking it is plenty. Perhaps when I build up some long term legs I'll go up to 1%.
- pip_daddy replied Sep 3, 2010
Graeme sure knows how to pick pairs. I've never seriously looked at G/A up until yesterday when Graeme stated his gains. Boy was I missing out. If you just traded that pair the past few months you would have done very well. Looks like it may be ...
- pip_daddy replied Sep 2, 2010
Each timeframe has it's own trend. The idea is to enter a trend on a low TF at the moment it is in sync with the higher TF which is in sync with the higher TF. He used the movie 'Inception' as an example which really seems to fit well. Perfect ...
- pip_daddy replied Sep 2, 2010
I think it would be unrealistic to expect you could hit a weekly/daily trend precisely the minute it starts happening. If you only care about what happens in the next few hours that is a different story but that is not what this thread is about IMHO. ...
- pip_daddy replied Sep 2, 2010
What I'm doing is: I sit down and quickly go through all 12 major pairs. Just Weekly and Daily chart. If both are in same direction it is a potential trade. If one appears to be a peak or dip reversal to being in the same direction it is also a ...
- pip_daddy replied Sep 2, 2010
Since we are all talking about our experience lately. I almost never traded lower than 1H so 5m has been a learning curve. I find that you have to pick good trading times. You can't sit at your computer for 12 hours staring at 5min charts because ...
- pip_daddy replied Sep 1, 2010
You don't need a VPS and smtp server. You can do it all from your home computer and free email accounts or if you already have smtp email which a lot of people do. I leave my computer on all the time anyways and have all kinds of smtp email ...
- pip_daddy replied Sep 1, 2010
Graeme makes a very good point when he says that you cannot tell the difference between 5 min and 1 week charts. You can DEFINITELY tell the difference when you are looking at 1 min though. Just sayin.....
- pip_daddy replied Sep 1, 2010
Why would you 'diversify' if the trend is moving in your favour? Also, why 1min?
- pip_daddy replied Aug 31, 2010
Nice to see someone who shares the same thoughts as me. Seems to me it's been a tough go trying to make pipage lately and hard to predict what he market is going to do from day to day. Hopefully Sept is much better.
- pip_daddy replied Aug 31, 2010
It is my understanding these rules mostly affect retail traders not banks. When I say high net worth professional traders I am talking retail traders.
- pip_daddy replied Aug 31, 2010
My take is there is a lot of uncertainty right now. The signals as to where the US economy is headed are still mixed and what if anything the BOJ will do to devalue their currency. I think those 2 things are the biggest concerns right now. Of course ...
- pip_daddy replied Aug 31, 2010
Please explain your logic as no professional high net worth trader uses high leverage. The only people that do are the ones who like to blow accounts on a regular basis.
- pip_daddy replied Aug 31, 2010
I don't see anything all that interesting today. I'm on the sidelines for now. Taking the opportunity to re-read this thread.
- pip_daddy replied Aug 30, 2010
Just fyi in case people are unaware (as I was up until a few hours ago). It was a bank holiday in Britain Monday (Aug 30). So Mondays action was likely quite muted.
- pip_daddy replied Aug 30, 2010
I agree that the exit strategy is not as well defined. However I believe that is because it does not need to be. If you try duplicate this method closely then you will diversify out of positions and into new positions as the trend appears to be ...
- pip_daddy replied Aug 30, 2010
Yes, I believe that is the explanation Martin Pring uses although that is more relevant with stocks than forex.
- pip_daddy replied Aug 30, 2010
I will explain my understanding why Joe only takes shorts on FB. It is because short movement is not the same as long. It's more of a human nature thing than anything else. If you look at falling and rising trends they look as if they are influenced ...
- pip_daddy replied Aug 29, 2010
Hi Graeme and/or others. I am not looking for spoonfeeding but since you are showing current potential trades this week. What is your take on the potential pin bar forming on u/j weekly chart? Would it be considered premature to consider taking a ...