Thread: Closed: Discuss EUR/USD News with a DailyFX Analyst

Nice of you to share i like the ending

Slap yourself with a fish lol

Originally Posted by cw1

Ok not many people like this but here goes:
Start with the trend which we know is short
look at the 15 min chart, pick an area near the top or at the top.peak
switch to 1min chart, wait for a spike up , as its spiking up set up a short trade with your SL and a target/limit of say 10pips,,,,,press sell when it looks like its exhausted....the trade is in
monitor usd basket chart on 1 min and eur usd while in trade........
soon as your in profit babysit it if it looks like it wont reach your tgt close it if nervous......or more often than not it will hit your tgt.Bingo youve just made 10 points profit

This is good with lots of 5-10.00 per stake/point. Sometimes i get it wrong and it carries on against me and seems like it wont come back...i set up another trade above to meet the trade below, close off in profit and if needs be close the losing trade or half its stake.......

When does ths work- on huge spikes up or down
is it recommended - no
does it work- for me big time but thats my trading style

It should also be noted that the position can be left to carry on if you think you will achieve or want the 50 pip tgt......

Last time i was asked to do this i got a kicking on the forum..so many disagreed...However as ive said before, it suits my style and ive been doing it long enough to know it works for me. It may not work for you. there is lot of profit especially when you do it say 10 times a day

Anyways reluctantly ive responded to your question, hope this answers it

Oh- lastly---if you lose any, its best to slap yourself with a wet fish and get back on the platform

Originally Posted by cw1

Ok not many people like this but here goes:
Start with the trend which we know is short
look at the 15 min chart, pick an area near the top or at the top.peak
switch to 1min chart, wait for a spike up , as its spiking up set up a short trade with your SL and a target/limit of say 10pips,,,,,press sell when it looks like its exhausted....the trade is in
monitor usd basket chart on 1 min and eur usd while in trade........
soon as your in profit babysit it if it looks like it wont reach your tgt close it if nervous......or more often than not it will hit your tgt.Bingo youve just made 10 points profit

This is good with lots of 5-10.00 per stake/point. Sometimes i get it wrong and it carries on against me and seems like it wont come back...i set up another trade above to meet the trade below, close off in profit and if needs be close the losing trade or half its stake.......

When does ths work- on huge spikes up or down
is it recommended - no
does it work- for me big time but thats my trading style

It should also be noted that the position can be left to carry on if you think you will achieve or want the 50 pip tgt......

Last time i was asked to do this i got a kicking on the forum..so many disagreed...However as ive said before, it suits my style and ive been doing it long enough to know it works for me. It may not work for you. there is lot of profit especially when you do it say 10 times a day

Anyways reluctantly ive responded to your question, hope this answers it

Oh- lastly---if you lose any, its best to slap yourself with a wet fish and get back on the platform

hi cw, thank you for sharing it with me. i really appreciate it. i do apologise if you get a scolding from the others, but right now i am indeed trying to make this kind(your kind) of trading work for me as well. i've been trying out, but usually it will hit my stops first(i put real tight stops). think i always enter at a wrong price, which is why i asked you for your strategy. =)

look at the 15 min chart, pick an area near the top or at the top.peak
switch to 1min chart, wait for a spike up


what is your definition of spike?

Below are two potential risk events for the remainder of this week. The first is not so much, but there is always the potential for noise. The second could put Greece back on the networks all day if it's a slow news day.




Germany: Lower House To Vote On Euro Aid Bill This Week | iMarketNews.com

UPDATE 2-Greek workers call one-day strike May 20 | Reuters

Originally Posted by cw1

Ok not many people like this but here goes:
Start with the trend which we know is short
look at the 15 min chart, pick an area near the top or at the top.peak
switch to 1min chart, wait for a spike up , as its spiking up set up a short trade with your SL and a target/limit of say 10pips,,,,,press sell when it looks like its exhausted....the trade is in
monitor usd basket chart on 1 min and eur usd while in trade........
soon as your in profit babysit it if it looks like it wont reach your tgt close it if nervous......or more often than not it will hit your tgt.Bingo youve just made 10 points profit

This is good with lots of 5-10.00 per stake/point. Sometimes i get it wrong and it carries on against me and seems like it wont come back...i set up another trade above to meet the trade below, close off in profit and if needs be close the losing trade or half its stake.......

When does ths work- on huge spikes up or down
is it recommended - no
does it work- for me big time but thats my trading style

It should also be noted that the position can be left to carry on if you think you will achieve or want the 50 pip tgt......

Last time i was asked to do this i got a kicking on the forum..so many disagreed...However as ive said before, it suits my style and ive been doing it long enough to know it works for me. It may not work for you. there is lot of profit especially when you do it say 10 times a day

Anyways reluctantly ive responded to your question, hope this answers it

Oh- lastly---if you lose any, its best to slap yourself with a wet fish and get back on the platform

It works. That almost exactly what i am doing since day one of going LIVE trading.

To me, the shorter duration we need to be exposed to the market will greatly reduce our risk to sudden movements up or down.

Todate had been able to accumulate profits from 100 to sometimes as high as 500pips a day. Losing some of the trade is just a part of Forex, actually a part of life. Nobody in thw whole world since life began had been 100% right. No one is perfect, not even GOD who made man since we are imperfect.

I bet FXCM like us alot since we are paying alot in spread. ie if you trade 10 times that is easily 25 to 30pips in spread. I sometime trade 30 to 40times a day, so that adds upto alot of spread for FXCM. Dont get me wrong, i am willing to pay since it is making profits. No problem FXCM.

Just got short at 1.2373 and 1.2370 and taking profits on any other day i would have waited for it to go further up then short and hold position for no less than 8 hours

Originally Posted by PoundGuy

Nice of you to share i like the ending

Slap yourself with a fish lol

hahaha, and today was a bad day for me. i had salmon, tuna and shark across my face already! LOL

Me too, didn´t get any pips!
god i hate tuedays and fridays. Im going to stay out those days

Originally Posted by smalleyes

hi cw, thank you for sharing it with me. i really appreciate it. i do apologise if you get a scolding from the others, but right now i am indeed trying to make this kind(your kind) of trading work for me as well. i've been trying out, but usually it will hit my stops first(i put real tight stops). think i always enter at a wrong price, which is why i asked you for your strategy. =)

look at the 15 min chart, pick an area near the top or at the top.peak
switch to 1min chart, wait for a spike up


what is your definition of spike?

About 30 pips, or a little less...when the1 minute chart is maxed out and at the top
Tight stops will knock you out, with this style you need min 40 pips SL but if it still goes against look for another entry if required ONLY TRADE THIS ON THE TREND. ON THIS TYPE OF TRADE DO NOT TRY IT LONG

PG, i feel like that a lot when i close out for some decent profit and then the trade i exited carrys on another 30 pips ! But there is always always other trades, feels good to have profits

You bagged a good 50 pips there surely!

If the last hrs levels hold then we should see another push to the upside putting the correcion in play if it breaks lower with conviction and closes lower then correction maybe invalidated

Originally Posted by PoundGuy

If the last hrs levels hold then we should see another push to the upside putting the correcion in play if it breaks lower with conviction and closes lower then correction maybe invalidated

yes, it appears to be holding

See My Post about 10:50 EST. As Madaam Babushka says, "I'm a Chicken S--T!"
I"ve been reading Your Posts. I considered Myself an active trader. I'm in a Trade at least once a Day, sometimes two or Three. I think I'd refer to You as a Hyper-trader. At one time I was happy with 10 pips. Mostly because I had very little Capital in My account. Now I look for 50 pips most of the time. Still if the chart starts to look like a dish or saucer on the bottom, I'll bail early.
As You say, "Take your profits or the market will take it from you...."

I've placed a sell order back at 1.24 again. Actually 1.2410 Just to keep the old girl from giving Me the Evil Eye.

Originally Posted by cw1

You bagged a good 50 pips there surely!

Breaking down!

And there we go price is coming up to previous rend resistance a break lower still needed to start trading within the downward trend (Channel)