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Hello everyone! My name is Chronos24(Long story) or call me Matt and I have been trading the Forex market for two years. Live and Demo
I am not yet profitable I have good months and bad months.
I would describe myself as a Jack of all trades and a master of none.
I have had great mentors in the field that all trade differently. Professional Binary option traders, Forex Scalpers, and Fundamental swing traders. I have learned very much from them, I have yet to find my own niche or style that is overall profitable.
That is why I joined the forums here, I am looking to trade futures and see how I can do with it.
I've been currently sim trading the ES NQ and TF, I also like the correlations between the Dollar index and Bonds.
I am a big fan of Price action, and my first love is Ichimoku.
Trading in the Zone is one of my favorite books.
Any information you guys want to give me I am looking forward to.
I'm interested in Risk on and Risk off in the futures markets.
Great to be here!
Can you help answer these questions from other members on NexusFi?
Thank you so much for the reply, you make some very good points. They made me think out what I'm doing.
My strategy for this month and next is to trade Break out Pull backs with the trend on the 5 minute or 1000 volume time frame. Taking profit at Swing points or deviation of the VWAP. I ideally want a 1 to 1 trade or better but that is up to what the market is willing to give me. I also plan to factor in correlated pairs with my trading decisions. Stop loss's will be behind the wicks or swing points.
I am willing to lose $200 a day to make $200 a day. I will be concentrated on good trades and not the $ amount.
The type of trading I described is what I'm best at. I'm going to add in a 15 minute or 60 minute chart to see the bigger picture to confirm what I'm seeing on the lower time frame, I'll have to experiment with it a bit.
In forex you can follow the 8 central banks for releases and what not, When it comes to earning reports on Futures I am lost. I use FINVIZ.com - Stock Screener to see groups of futures and see real time earnings reports but it's not as clear as Forex for me.
I use Financial Juice with their free squawk so I don't trade when something crazy is happening.
The hardest part for me is sticking to one strategy. That is my biggest problem. I'll start a trading journal on sim in the next few weeks and then hopefully a live journal.
I liked the article on expectancy of a trade as well, good information.
I'm sure I'm missing some points I wanted to talk about but it's late, Thank you .
The Bloomberg/Econoday Calendar is good for knowing what to be aware of during the day. Be careful around the red star events and when important Fed people are speaking, such as 'Janet Yellen Speaks'. If you look at the Depth of Market (DOM) you will see the majority of Bids and Offers get pulled out of the book shortly before an important release. Economic Calendar - Bloomberg
It's a winning day but I have much to work on. I'm really loving sierra chart.
When I get more time today I'll start up a journal in the journal section.
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