*Official* Forex Trading thread.

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lovesleeping1981

lovesleeping1981

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xersion said:
Got tactical long one ah

Sent from OPPO X9079 using GAGT
Click to expand...

Based on weekly chart, I also agree it should be long. Especially if this week closes above the middle bb line then next week should see it go long.

3aUSOyz.jpg
 
dexboi

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Also recommend babypips.com too for those who are keen to learn FX. Just complete the entire School and you should have all the knowledge to help you kick start.

Need an advise on trading data releases:
When a data is released, how do we place the trade as quickly as possible and in the right direction? For example tonight's 2am FOMC Minutes. When the data is released @ 2am exactly, the market will jump, how do you/we know which direction to take? I mean, we haven't even finish reading the summary statement and the market already moved so far.

I know it's impossible to beat it. But how can we profit from such scenario? Being a little faster? Take position in the same direction as the jump? Weighing the sentiments whether it's a strong form or weak form and decide whether it will U-turn later?
 
Mr.Canberra

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Tactical Positions

xersion said:
Got tactical long one ah
Click to expand...

This term I learn from Maybank FX Research report. :D

If using NZD/USD as an example. Short term will be LONG (Tactical) bias but mid to long term is SHORT bias. :s13:

lovesleeping1981 said:
Based on weekly chart, I also agree it should be long. Especially if this week closes above the middle bb line then next week should see it go long.
Click to expand...

Yes as mentioned in above post.
 
Mr.Canberra

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dexboi said:
Need an advise on trading data releases:
When a data is released, how do we place the trade as quickly as possible and in the right direction? For example tonight's 2am FOMC Minutes. When the data is released @ 2am exactly, the market will jump, how do you/we know which direction to take? I mean, we haven't even finish reading the summary statement and the market already moved so far.

I know it's impossible to beat it. But how can we profit from such scenario? Being a little faster? Take position in the same direction as the jump? Weighing the sentiments whether it's a strong form or weak form and decide whether it will U-turn later?
Click to expand...

There is no way to tell which initial direction it will go upon data release. You must take position before data release as the spike or plunge will be too lightning fast for human reaction haha. This is the time to test your M1 Chart gaming skills haha. I train for one year liao. :D

Factors taken into consideration.

1) What is your strategy? Short or long term?
2) Position size?
3) Cut loss or carry trade if position is stucked?

Some traders stay out of trading altogether during major data releases.

Alternatively try this out. Use 2 different trading accounts. One trading account open long position. Another trading account open short position. Bao jiak hahahaha! :s13:

This is what I will do when I have time to go down and open the new Phillip Futures MT5 account. 2 different accounts. Each account will have a position opposite of the other account per currency pair. NO STOP LOSS. :D
 
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Mr.Canberra

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Forex Trading Strategy

lovesleeping1981 said:
Haha. This is like buying big and small at same time.
Click to expand...

If my memory serves me correct this idea was first suggested by Knight_Rider. But I want to take it to another level with NO STOP LOSS for both accounts. :s13:

Bao jiak because I gah gah play no stop loss and long term carry trade. At any one time one account will win and the other account will lose. So one account will run with a tio stucked position and when it comes full circle once recover just close position. :D

Once you have 2 accounts with opposite positions taken each. The big boys can prata as many times as they want. Both your goal posts ready for the price action haha. :s13:

Want to huat big must think out of the box and try unorthodox strategies.
 
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Mr.Canberra

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NZD/USD

ALERT ALERT ALERT!

NZD/USD just spiked. Tactical LONG is happening. :s13:

AUD/USD heading towards 0.79.
 
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awful999

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wa. USD prata again ...huat AR


heng ar, TP some long on USD then USD prata again !!!
 
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