l i t t l e d e v i l's $50 to $13,000 Forex Challenge

[mannyrs13]

What's your process/strategy bro? How much technical analysis do you use?

Right now it's pray I don't fukk up. But really I'm just being smart on when to trade. Looking at patterns and whatnot. Reading the charts. Plus setting stop losses at where I'm not hurt that much if it hits. Also sticking with only usd pairs since that's the main one right now. In the past I've focused on news but it's been crazy lately anyways. I just been more patient. I'll have to calculate all my deposits and withdrawals over time and see how far I am from even. I'll show something crazy I noticed about a trade and pair I did earlier when I get back home.

 

[mannyrs13]

in the past 24 hours this is what i've done with this pair. i made $75 on that close at like almost noon. lost $5 when i woke up and switched to buy instead of sell cuz of impatience and trying to get a quick gain, and made $30 on the trade that closed overnight right before that. i actually made $40 yesterday evening also. so like $140 on that pair. but look at what i circled on the right. thats the price at noon when i left the trade and the price now. look at all the red bars before noon when i made profit. if i wouldve made another trade after noon to sell, i wouldve been fukked cuz of how high it went up. now i bet later tonight over night it drops back down to .56 or maybe lower. but the difference between greed and patience is whats gonna save you from stuff like that happening.

 

[mannyrs13]

Got 7 orders in, all for USD. I set stop losses on some and trailing stops on a few others. Gonna see what it does overnight. My main goal is to not have any trades reach the stop limit and all be active when I wake up again. My bonus goal is to have all of them with at least $10 in profit. Hopefully the London brehs help make me some money.

 

[GarryWithTwoRs]

Got 7 orders in, all for USD. I set stop losses on some and trailing stops on a few others. Gonna see what it does overnight. My main goal is to not have any trades reach the stop limit and all be active when I wake up again. My bonus goal is to have all of them with at least $10 in profit. Hopefully the London brehs help make me some money.

Aye so how do you know when to set a normal stop loss vs a trailing stop

Right now it's pray I don't fukk up. But really I'm just being smart on when to trade. Looking at patterns and whatnot. Reading the charts. Plus setting stop losses at where I'm not hurt that much if it hits. Also sticking with only usd pairs since that's the main one right now. In the past I've focused on news but it's been crazy lately anyways. I just been more patient. I'll have to calculate all my deposits and withdrawals over time and see how far I am from even. I'll show something crazy I noticed about a trade and pair I did earlier when I get back home.

Hmmmm. So when you say you look at patterns you mean you're doin technical analysis right? Do you use indicators?

 

[mannyrs13]

Aye so how do you know when to set a normal stop loss vs a trailing stop



Hmmmm. So when you say you look at patterns you mean you're doin technical analysis right? Do you use indicators?

Really don't have a system for normal vs trailing. Lately I been doing normal but just switched it up and every pair under a dollar I did trailing. Which i think was australia and new zealand and i think the swiss one.

Yeah mostly technical with some news depending on the event like rate cuts. but i've noticed its mostly smart money management. not every trade gonna be successful. i look at patterns like the direction the pair is headed then try to keep some profit. trailing is good but when i do normal i'll move it constantly. like today i had some trades where i was up $25 and i set my stop at $20 so i can make some money. I'll keep an eye on it and adjust accordingly. but yeah looking at the charts over time is important and does help. i havent reached the level i need to be at yet but i'll get there. i did the math over time and im up like maybe $100 from my entire time doing this so just gotta keep improving hopefully.

 

[The Don]

Anyone ever check out this dude? His strategies are simple and profitable. Best strategies I’ve seen thus far.

 

[Serious]

Subs.....

 

[mannyrs13]

Definitely wasn't a good day. Should've taken it off but oh well. Too much volatility from late last night until market closed today. Hopefully things get better. went down a bit and never fully recovered. I withdrew $100 just cuz i felt like taking some out. im just under 1100 now and thats minus the 100 i took out. i think my highest was like 1300 or so, so i ended up losing like $100 today. I did start using trailing stops and i like that method a little better. but everything was just up and down today. dollar didn't really dominate anything completely. the canadian dollar lost me like $80 today by itself after being so good to me on wednesday. damn canucks.

didn't leave any trades open for the weekend cuz im sure it'll get crazy on sunday evening. i'll wait to then and see whats up.

 

[The True HD]

Anyone ever check out this dude? His strategies are simple and profitable. Best strategies I’ve seen thus far.

He has some nice info

Definitely wasn't a good day. Should've taken it off but oh well. Too much volatility from late last night until market closed today. Hopefully things get better. went down a bit and never fully recovered. I withdrew $100 just cuz i felt like taking some out. im just under 1100 now and thats minus the 100 i took out. i think my highest was like 1300 or so, so i ended up losing like $100 today. I did start using trailing stops and i like that method a little better. but everything was just up and down today. dollar didn't really dominate anything completely. the canadian dollar lost me like $80 today by itself after being so good to me on wednesday. damn canucks.

didn't leave any trades open for the weekend cuz im sure it'll get crazy on sunday evening. i'll wait to then and see whats up.

Check out UJ, I caught about 400 pips this week over about 10 trades. I've got it marked up pretty good and caught some strong moves, three trades I took today had me in drawdown for a little while but it did as expected and returned to the last formed resistance and came back under into the uptrend channel.

Buys:
107.213, 107.258 -> 108.1 Had a trailing stop and it closed out both at 108.1 while I was sleep. I would've moved it lower but I had a smaller lot trade set to execute a pip above the SL
108.110 -> 110.858 +274 pips open ~ 10 hours ...
110.202 -> 110.702

Sells:
111.385 -> 111.200, 111.430 -> 111.129

https://www.tradingview.com/x/vNYW1Amr/

orange is the channel, blue are key S&R points, yellow is my favorite trade because although it didn't bring the most pips, it was the cleanest entry with maybe a 1 pip drawdown

Salute to you journalling your trades and giving game out here. Will be checkin in, I'm down to contribute what little I know.

 

[mannyrs13]

He has some nice info



Check out UJ, I caught about 400 pips this week over about 10 trades. I've got it marked up pretty good and caught some strong moves, three trades I took today had me in drawdown for a little while but it did as expected and returned to the last formed resistance and came back under into the uptrend channel.

Buys:
107.213, 107.258 -> 108.1 Had a trailing stop and it closed out both at 108.1 while I was sleep. I would've moved it lower but I had a smaller lot trade set to execute a pip above the SL
108.110 -> 110.858 +274 pips open ~ 10 hours ...
110.202 -> 110.702

Sells:
111.385 -> 111.200, 111.430 -> 111.129

https://www.tradingview.com/x/vNYW1Amr/

orange is the channel, blue are key S&R points, yellow is my favorite trade because although it didn't bring the most pips, it was the cleanest entry with maybe a 1 pip drawdown

Salute to you journalling your trades and giving game out here. Will be checkin in, I'm down to contribute what little I know.

Thanks. I'll have to check that out. I messed with UJ a few times but not too much. Yeah you seem knowledgeable on this shyt too. I'll have to keep going thru baby pips and learning more myself. And also figuring out how many pips is a decent trailing stop. Cuz I know some were worth a dollar like I think EU and others were worth like .30, but that also might be determined by how many I buy. Lot to learn. We might as well take advantage given the circumstances lately. Hopefully we learn enough for long term success.

 

[The Don]

If y’all haven’t downloaded the “Currency Heatwave” from the App Store. It’s crucial! It gives you the strengths, volatility, and volume of buys and sells for the major currencies in real time. It gives the strengths in different time frames too. I don’t trade without it.

Also which brokers are you all with?

 

[Wise]

Instead of learning, you know of anyone who has a high success rate who will give you signals/trade for you using your money?

 

[amare68]

If y’all haven’t downloaded the “Currency Heatwave” from the App Store. It’s crucial! It gives you the strengths, volatility, and volume of buys and sells for the major currencies in real time. It gives the strengths in different time frames too. I don’t trade without it.

Also which brokers are you all with?

im just starting , reading through baby pips now .. planning to use interactive brokers as im overseas .. anyone used this before?

 

[GarryWithTwoRs]

im just starting , reading through baby pips now .. planning to use interactive brokers as im overseas .. anyone used this before?

I checked out Currency Heatwave. Seems pretty vanilla unless you pay for the premium. I feel like a lot of the stuff on there is offered for free online anyways

 

[The Don]

I checked out Currency Heatwave. Seems pretty vanilla unless you pay for the premium. I feel like a lot of the stuff on there is offered for free online anyways

It’s only a one time fee of $20. Well worth it.