Anyone winning at forex?

[Morpheus]

I"m up 20 pips this week after one day of trading this week. I think I'm getting back into it. I took about a 2 or 3 month break. I feel re-energized. I failed at it before. I'm taking a different approach this time. I couldn't trade today because I had to go to the dentist.

We win at forex , we get rich. Right?

[techno791]

Mission Control just told me there's heavy crosswinds at the launch site. I'm scrubbed for a week.
Apparently I won't be live for another week.
Which sucks big time...so far ths week, and I haven't been trading London since somedays I don't feel like giving myself werid schedules w/o real money...
37pip gain..plus 57 equals 94pips.
I should be at 109 but I got stopped out 2 short of a T/P tonight. Maybe I shouldn't have played with euro/dollar after the gdp rates? I dobut that. Maybe I should've set it after midnight? I dunno yet.

This week I only did trades I would with real money. I even included a trade that I wouldn't do normally, which was a loss, that I made back in the CAD. That way I didn't cheat. All just pips, not lot amounts.

I wanted to mention the 57 separate. That's what I'm mad about of not having a check cleared. GBP/JPY. I hear after a surprise interest rate raise in England, that carry pair rockets. Last time 700pips I think I read? It's very high now so I don't know how far it'll go, but I drew a sloppy line to just put in a market to see how it goes. If that carry pair was that easy, why play any other pair for a week? There might be life still in it.

I don't know what I'm doing anyway. I can't find any entries for my original strategies lately.

I just want to win so I can go outside.

[amohedas]

Originally Posted by Morpheus

I"m up 20 pips this week after one day of trading this week. I think I'm getting back into it. I took about a 2 or 3 month break. I feel re-energized. I failed at it before. I'm taking a different approach this time. I couldn't trade today because I had to go to the dentist.

We win at forex , we get rich. Right?

Great to see you get back into Forex Morph. I'm still paper trading and using a demo account.

Lots of fun!

[mister_doodi]

How many people are making money on this forume anyway. I can name 3 off the top of my head, Stockjockie, Wolf, and Doodi. Don't know if your live trading techno. What ever happen to that guy that made all those scalp trades and posted about it here early last year.

[Morpheus]

anyone try to predict news releases ?

[techno791]

Originally Posted by mister_doodi

How many people are making money on this forume anyway. I can name 3 off the top of my head, Stockjockie, Wolf, and Doodi. Don't know if your live trading techno. What ever happen to that guy that made all those scalp trades and posted about it here early last year.

Was it you who was the master scalper? Or do you mean some guy I think his name started with jjj or iii. They delayed my live trading by a week anyway.
Which is good I guess since the CCI indicator is messing with me, I don't know how anyone can play using that, it changes on a whim. Hey it passed 40, no wait, it's back to -34. Looking for one system that I can trade when the others arne't happening. Or maybe these days of range trading this week is sucking the excitment out of me...like last night. I need more patience.

GBP/JPY now 174 pips in 24 hours. I can only hope that I go to four temp agencies Monday, do 4 jobs in one week at once, and GBP raises the rate 2 weeks from now, and JPY lowers theirs to zero. You can make all your money on these carry trades in the right conditions.

[HititUP]

You don't need to predict much if your going to play fundimentally.

http://www.dailyfx.com
and
www.bloomberg.com

Both give you the exact time and expected results of upcomming news.

[techno791]

Originally Posted by Morpheus

anyone try to predict news releases ?

I've attempted it, but it's a gamble with market orders. Others do straddling, but you have to have a decent broker and system that won't slip to put limit orders on both sides.
I've been logging the behaviour over the last couple weeks to try to come up with some system of playing the action after the first candle. I think I have something for retracements. I'm going to start over using 10min candles or 5 min instead now.

There's a few ways to play the news...I get the feeling they've all been done and trying to figure it out yourself is reinventing the wheel. I keep hearing "fade the news", but if you look it up I don't see any sites that explains or gives a definition. I bet there's more techniques like that.
If you can trade binaries or futures, that maybe a way too. I've done some binary trading on later releases.

[mister_doodi]

Fading is a counter trend trading or contrarian trading. When the market lets say moves down 80 pips and you think the sellers are exausted you enter in a buy order.



This is the nonfarm report from back in April. After the initial pop after the news it retraces back to where pre-news levels. Trading that retracement is fading the news.

[Drown021]

Originally Posted by mister_doodi

Fading is a counter trend trading or contrarian trading. When the market lets say moves down 80 pips and you think the sellers are exausted you enter in a buy order.



This is the nonfarm report from back in April. After the initial pop after the news it retraces back to where pre-news levels. Trading that retracement is fading the news.

I've found that the fading strategy has been more profitable for me during news releases.I've had more wins than lossess using that strategy.

Am I winning at Forex? No,but I'm not losing either.