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Forex as Futures Training Ground
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Forex as Futures Training Ground

  #11 (permalink)
Elite Member
houston
 
Futures Experience: Intermediate
Platform: nt
 
Posts: 407 since Sep 2010
Thanks: 266 given, 269 received

No Trades Nov 12 2012

@PandaWarrior, thanks for the recommendation on targets! I embedded charts as you recommended.

Execution Score: 3
Saw an opportunity in Forex early...when final signal went go, however, I had gone back to bed. I will set an alert for next time. Same with second opportunity (a short).

Emotional Score: 4
Didn't bother me that I had missed an opportunity. I was pleased that I had observed it and that it did go as predicted.

No Trades Nov 12 2012 - YouTube

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  #12 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
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HighRise1202 View Post
@PandaWarrior, thanks for the recommendation on targets! I embedded charts as you recommended.

Execution Score: 3
Saw an opportunity in Forex early...when final signal went go, however, I had gone back to bed. I will set an alert for next time. Same with second opportunity (a short).

Emotional Score: 4
Didn't bother me that I had missed an opportunity. I was pleased that I had observed it and that it did go as predicted.

No Trades Nov 12 2012 - YouTube

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Do you need the MACD to read price action? I suspect not. My original mentor told me that MACD's are always late to the party. I've never seriously considered using them since then. Just a thought......

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #13 (permalink)
Elite Member
houston
 
Futures Experience: Intermediate
Platform: nt
 
Posts: 407 since Sep 2010
Thanks: 266 given, 269 received

+ 17 pips Nov 14 2012


@PandaWarrior thanks for the advice on MACDDBB's. I may wean myself away from them.

Executional Score: 4
I waited for price to come down to support and deep Fib area. However, in playing at the edge I went for a two head fakes. There wasn't really a bar setup until the forth move up, the one that did go. I calculated that this would likely be a range day, but without much certainty mostly because Forex is new for me. It turned out to be that way.

Emotional Score: 4
After two stop outs I thought, "Oh, here we go again...going to reckless abandon in sim." However, I then settled down and waited for a good combo of signals and sure enough there was a real reversal.

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+ 17 pips Nov 14 2012 - YouTube

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  #14 (permalink)
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houston
 
Futures Experience: Intermediate
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Posts: 407 since Sep 2010
Thanks: 266 given, 269 received

+ 10 pips Mov 15 2012

Execution Score: 4
Entered at strong support area, then held into big headlines time. Should have closed out before news.

Emotional Score: 3
Get huge urge to close when good profit level hit...and don't know WHAT to do at that point...had plenty of anxiety.

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+ 10 pips Nov 15 2012 - YouTube

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  #15 (permalink)
Elite Member
houston
 
Futures Experience: Intermediate
Platform: nt
 
Posts: 407 since Sep 2010
Thanks: 266 given, 269 received

+ 25 pips Nov 16 2012

Execution Score: 2
Created new 5 minute chart. Fumbled around, made long trade when I wanted a short, just terrible. However, I recovered and placed the short for a nice gain. Learning about Elliott waves.

Emotional Score: 4
I feel confident about the track I'm on. Despite fumbling errors did not get too upset with myself. I stuck with my trade idea and it worked out.

+ 25 pips Nov 16 2012 - YouTube

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  #16 (permalink)
Elite Member
houston
 
Futures Experience: Intermediate
Platform: nt
 
Posts: 407 since Sep 2010
Thanks: 266 given, 269 received

+ 15 pips Nov 19 2012

Execution Score: 4
I caught a retrace right at the bottom with a limit order. Market went to target.

Emotional Score: 3
I get nervous when price moves to 2 time risk, and I want to exit. My target is 3 times risk.

+ 15 pips Nov 19 2012 - YouTube

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  #17 (permalink)
Trading Apprentice
Sweden
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: Futures
 
Posts: 6 since Nov 2012
Thanks: 1 given, 1 received

What do you base your trades on? You really have a lot of lines on your chart

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  #18 (permalink)
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houston
 
Futures Experience: Intermediate
Platform: nt
 
Posts: 407 since Sep 2010
Thanks: 266 given, 269 received

Forex Experience


smajdah View Post
What do you base your trades on? You really have a lot of lines on your chart

I'm changing my trading style. Big Mike and PandaWarrior recommended simplification, also trading Forex micro lots cash for low-risk practice, i.e. $5 a trade.

I've ran into a good chat thread on Forex Factory. I've adopted Fib Channels and see them as quite effective, at least in Forex. Here's a description: Trading EURUSD only - Page 508 @ Forex Factory. The indie is in MT4. I haven't found a Fib Channel indicator for Ninja, BTW.

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  #19 (permalink)
Trading Apprentice
Brisbane
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 5 since Feb 2013
Thanks: 5 given, 1 received

Thanks for posting this, great read. Actually might do something similar to this myself soon.. (y)

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  #20 (permalink)
Elite Member
Budapest, Hungary
 
Futures Experience: Advanced
Platform: Windows 95
Favorite Futures: GC, CL, 6E
 
Yuri57's Avatar
 
Posts: 278 since Feb 2013
Thanks: 71 given, 103 received


I agree, demo trading is not very useful, one should rather trade micro lots live. I would suggest to trade a lot more not just 1 a day. When I was practicing I made 1000 trades in 2 months. You need experience.

Btw I think currencies are different to stock or bond futures, news are more frequent and pairs also affect each other, so it's much more complex to trade currencies than bonds or stock indexes.

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