Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I found this week very quiet, not sure about you? The way market reacted to NFP says a lot in my opinion. I mean the data was good but it moved like thick syrup. What do you make of it bobarian? Whats your sentiment,scenario and plan going forward?
good question Grantx.To be honest, i trade the 30 min,starting at 3am eastern time.On my chart , I have yhlc,and todays hlc.Also, on my vwap, i plot prev days value area.I realize most people wouldnt use vwap on forex.I have compared it to twap (time based avg price) and its so close, i just stay with the vwap.i use it for context, and i wouldnt want to trade without it.Ive looked at your charts, and i love your approach on the HTFs.One day , i want to add that type of trading to my skillset for sure.My style currently is definanetely a daytrading approach.With that said, i mainly focus on technical analysis, and look to trade the edges.Just for me to drop all the quicker charts(3min) was a big change.The 30 eliminates alot of noise.In fact, at hod or lod, if we are in the outer extensions of vwap and i get a reject candle at these extremes, i will look to fade the market, as long as my limit order is reached and my risk is appropriate.Its interesting tho.I never look at the previous days chart.I just try to focus on whats happening in the moment.Ive thought about this, and it has occurred to me that it might benefit me to look at previos day.So, to keep it simple , I have previous day h/l/c and thats it.I have difficulty when i have to much on my chart.Even now, im still simplifying.
Bob
sept 10 monday
3 trades.All shorts off of hod with sell candles
1)eurusd.Stopped
2)scatched at b/e after buy candle
3)1st scale off, scratched rest at b/e
There were 2 other shorts, so 4 were firing off at the same time.I didnt take these.eurjpy worked well, im a bit leary of this pair...as ive been ticked on numerous occasions.
sept 10
finally got a decent trade off on AUDUSD for 3 scales.Alot going on here, im looking to add more context than just developing value and prev h/l/c.Its a work in progress, and hopefully will enable me to be a little more decisive on the areas i participate, and perhaps trade bigger size.Much work to do!
what a day.Going back into the archives, looking at some market profile/value /tpo stuff from the past.Raining for 2 days straight here in NY, need some exercise.Essentially ive been trading the edges of value for a while.However, its been nagging at me to bring in some HTF value, and also simple price action.I dont want to clutter up my charts, i want to do the opposite.I will try to digest whats been on my mind today, and also try to be patient.Fading the extremes of value(sd2/sd_2 ) with a simple 30 min candle isnt bad.I enter on a sell or buy candle, so i might be missing many trades at these areas.I put up the weekly vwap to complement the daily vwap.Its a bit weird, so lets see if it works.The bigger picture is what im after , so i can be more confident in my entries.Kinda like playing the bumpers.Currently, im just trying to be consiostent with my executions, and take anything that is acceptable.Just this practice is not so easy when the confidence isnt there yet.But, its necessary...lets see what tomorrow brings