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Day Trading 101

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This topic contains 419 replies, has 30 voices, and was last updated by  moaied suhail 1 week, 1 day ago.

Viewing 20 posts - 21 through 40 (of 420 total)
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  • #56917

    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 481

    The way to handle news is to wait for the time it is released, don’t worry how the news came out, but once its released, the chart will tell you if its setting up for the trade or not. But don’t do this with big news like nfp.

    Cheers.

    #56922

    Sebastian Brandt
    Participant
    • Topics: 0
    • Replies: 263

    Sure, that’s what I meant, waiting until they’re released, thanks^^

    I’m curious about how much time you spend trading the market Raj, since you use so many different techniques and timeframes. Do you mind sharing a little bit about that?

    #56928

    Barbara D.
    Spectator
    • Topics: 0
    • Replies: 6

    Raj how long have you used this system?

    #56932

    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 481

    Hi Sebastian – I used to spend more than necessary, but I have really cut back….since I’m concentrating on less pairs now. The fibs don’t require too much time, and I do them fairly quickly….so about 15min per night after candle closes to scan 10 pairs or so, then NA session from 8am to 11am, sometimes 9:30 to 12.

    Barbara – this system is fairly new to me, just a couple of months in.

    Cheers.

    #56933

    Bangs Ufosn
    Spectator
    • Topics: 0
    • Replies: 6

    Hi Raj,

    Thanks for this system. I noticed you mentioned you use this system when London opens. Are you essentially applying this system for London Breakout or you essentially meant during the trading day? also what time zone are you in?
    Have you considered a trailing stoploss for this system since the RR is 1:!?
    I will take a look at this system this week

    #56934

    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 481

    Hi Bangs I’m in North America, so I can not trade London – I was just pointing out the best times to trade it. I’ve never used trailing stops, but I suppose you could (I don’t have experience for that).

    London open usually creates a high or low for the day and market generally travels in one direction after that. That’s why some traders straddle trade the first hour candle.

    Anyhow, by all means demo this and let me know how you do.

    Cheers.

    #56936

    Bangs Ufosn
    Spectator
    • Topics: 0
    • Replies: 6

    Thanks Raj.
    I shall definitely look at it this week

    #56938

    terry b
    Spectator
    • Topics: 0
    • Replies: 7

    Raj, This system looks very interesting, will do some forward testing this week.

    Thank you!

    #56941

    marek herde
    Spectator
    • Topics: 0
    • Replies: 20

    I put those average on my chart and want to see how it perform. I am going to have it as a great indicator combining with s/r breakages, engulfing patterns etc. It could work as a great confirmation tool. Thanks a lot Raj!

    #56946

    fasih ahmad
    Spectator
    • Topics: 0
    • Replies: 28

    thanks a lot raj for sharing this πŸ™‚ looks awesome..

    is it possible to have it backtested or have u done it urself ?

    kind regards

    #56948

    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 481

    Hi Fasih, you can back test if you like, but its better to demo I think.

    I don’t like trading the Asian session, but just did a couple just to show examples for you guys. (and to put some pips in my pocket) πŸ™‚

    Cheers.

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    #56956

    moaied suhail
    Participant
    • Topics: 1
    • Replies: 362

    you deserve it Raj, thanks for sharing

    #56957

    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 481

    Thanks Moaied, I just read about your situation in the other thread. My heart goes out to you and your family. My prayers are with you.

    Cheers.

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    #56959

    moaied suhail
    Participant
    • Topics: 1
    • Replies: 362

    thanks a million Raj, you all ready helped a lot

    #56960

    fasih ahmad
    Spectator
    • Topics: 0
    • Replies: 28

    Hi Fasih, you can back test if you like, but its better to demo I think.

    I don’t like trading the Asian session, but just did a couple just to show examples for you guys. (and to put some pips in my pocket) :)

    Cheers.

    nice trades raj! looks cool, i;ll also demo trade this for some time..

    thanks a lot 4 sharing!

    #56969

    Nicolaas Kolz
    Spectator
    • Topics: 0
    • Replies: 2

    Thanks Raj I was looking for a day trading strategy and I will surely try this one on demo. Thanks again!

    #56970

    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 481

    Fasih – sounds good!

    Nicolaas – yes please do and let me know how you do.

    Ok, my trade for the NA session cashed me out pretty quickly, so I’m done for the day. All this hard work calls for a nap! πŸ™‚

    Cheers.

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    #56972

    Sebastian Brandt
    Participant
    • Topics: 0
    • Replies: 263

    How did you decide on your stop loss Raj (in your last example)?
    A stop loss below the ribbon would stop us out.

    #56982

    Sebastian Brandt
    Participant
    • Topics: 0
    • Replies: 263

    Raj,

    could you please take a look at the following setup?

    https://www.mql5.com/en/charts/4162758/gbpusd-m15-fxpro-financial-services
    I entered at the candle I marked with the arrow. The market went down, but I noticed, also with other setups I watched back-testing yesterday, that the market went up the ribbon again and hit the SL before going down.

    If you have a minute, I’d be thankful about your advise and whether or not you would take this setup.

    #56985

    TJ ‘
    Participant
    • Topics: 0
    • Replies: 83

    @raj, Thank you Raj for another nice thread. You are so generous with your knowledge. I hope that one day I will be able to do what you do for others.

    @sebastian, I have no clue, but for the sake of it. My guess would be that the entry candle was to far from the ribbon, meaning that the candle that break the ribbon was too tall, even though, it doesn’t seem that big. My 1.5 pips. πŸ™‚

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