Posts Tagged daytrading
My first thought is that new traders should start off with the longer timeframes… shorter timeframes are extremely stressful and a quick way to lose money particularly when you’re starting out. That’s not to say that it’s not possible but the likelihood that you will burn out is greatly increased if you run before you can walk.
Trading the Daily timeframes work better as there’s less ‘noise’ in the markets.. you’ll see less signals but the moves should be bigger and you igno
October 29, 2013
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I just went long on the USDCHF pair... if you click on the picture above, you can see it more clearly. The price has now hit a support line which was a strong base at the beginning of the year. The price had hit this year on a couple of occasions and it's worth a punt!
The negative aspects of the trade is that the price is looking a tad weak and we have gone long as the market is trending lower so we are indeed trading this as a countertrend play.
However, the risk is low.. 30 pips w
September 23, 2013
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A trade which I forgot to post on Twitter.. probably a good thing as it was a loser but it was so very close to a winner! Anyway, I thought this was an interesting trade. I've posted this showing a 4 hour chart but I actually took the trade from the Daily, you can see the support area (in blue) more clearly. I went long the FTSE at 6589 see that there had been two days of falls and we were going to fall and hit support soon. Although support was at around 6560, I actually had my stop at 6540
September 18, 2013
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