[Simple Trading System] Trendline Break (The Only System You Need)

[scplindia]

Re: Swing Calls by desifxtrader

All currencies are falling against USD, this is what this setup means, am I right, Pl clarify. Dollar index is at life time high.

 

[desifxtrader]

US$ Index

All currencies are falling against USD, this is what this setup means, am I right, Pl clarify. Dollar index is at life time high.

Hi,

Yes, you are korrect:

cheers :clapping:

 

[scplindia]

Re: Swing Calls by desifxtrader

wherem can I get live charts of dollar index

 

[desifxtrader]

Breakout Strategies

Here I'm listing couple of breakout strategies, inputs from all readers are welcome.

 

[desifxtrader]

Re: Breakout Strategies

A Pre-emptive Strike


Second Method

Breakout Day Trading Strategy

 

[desifxtrader]

Re: Swing Calls by desifxtrader

wherem can I get live charts of dollar index

Try this:

http://mmm.fxstreet.com/rates-charts/usdollar-index

 

[desifxtrader]

Re: Breakout Strategies

TL Break0ut

 

[desifxtrader]

Trading Forex for a Living

Trading Forex for a Good Living​

Hello friends,

Although trading Forex is still in it's infancy here in India, let me drop the million dollar question here:

Trading Forex for a Good Living​

How many of us is doing it right now? Maybe you're not based in India or you need not be of Indian origin, if you're reading this, please feel free to drop in your inputs.

Personally, I don't trade for a living but yes, it provides me a substantial source of passive income which easily matches up with my salary and sometimes it exceeds. Right now, I'm waiting for more experience, as well as growing my account so that I could retire comfortably after 10 years from my regular job. However, I'm actually afraid to give up my community/social life for the sake of trading. Thou, I'm not a big-time master trader bringing in Lacs of Rupees/month in profit, Even if I give up my day job today, I need not worry about anything for my monthly expenses but the question would be, what actually to do the whole day? I don't need more than 2/3 hours for making (inter-day trading) decisions & management but the rest 10 free hours would definitely drive me insane or, I'd kill my account by attempting very short term trading which I don't do. I love the people & friend circle at my office and enjoy their company very much. I'm more inclined towards social life rather staying inside disconnected. Definitely, there are few aspects of life which can never be more valuable than money.

What's your own perspective?
If you're a solely dependent on trading profits, how do you manage your free time?
If you're a wannabe, what your future plan and what you really want to achieve?

Please feel free to drop in your own opinions and discussion on the same line.

Thanks

 

[desifxtrader]

A full time trader

Keong Hee, based in Singapore trades Forex for a living. [He claims so, I didn't verify the facts].

a recession-proof skill that nobody can take away from me regardless of how bad the market crashes​

Predicting the Future​

Trading the financial markets, whether by way of fundamental or technical analysis, is not so much about "predicting the future". In fact, no one can really do that. Many traders, while complaining about the “lagging” nature of some indicators, mistakenly explain that these lagging indicators are of no value because they are derived from historical data. The ridiculously simple truth is, quite plainly, that we have no alternative! Only historical data is available; there’s no such thing as “future data”! Whether you’re using technical or economic indicators, all analysis is derived from historical data.

All forecasts are a matter of probabilities, not certainties. What we can do, at best, is to use a reliable combination of analysis tools (technical or economic indicators) to attempt forecasting the future in a probabilistic way. This is why all trading and investment decisions must come with a plan for dealing with losses, i.e. those scenarios where even high-probability forecasts turn out wrong (nothing in the future is zero-probability or 100% certain). Many traders and investors have plainly forgotten or willfully disregarded the need to do that. Winning traders and investors are those who can take losses when their views are proven wrong, while ensuring that the gains received when they are right are larger than the losses incurred when they are wrong. The philiosophy of successful trading is really as simple as that.

His trade records are on his website:

h‡‡p://keonghee.com

His book:
**(which I'm waiting to get & read to find out if this is just another gobar)

 

[desifxtrader]

Re: Swing Calls by desifxtrader

EUR/USD

Gains off yesterday's 1.2294 higher low breached key 1.2445 high to extend corrective reversal. Market approached 1.2670 today, ahead of key 1.2738 level. Break here is needed to trigger a stronger bounce, while 1.2450 supports the advance. Loss of the latter, however, risks 1.2294 and 1.2142 on a break.

Res: 1.2597, 1.2670, 1.2685, 1.2738
Sup: 1.2450, 1.2390, 1.2330, 1.2294


GBP/USD

Continues to consolidate above 1.4230 low, with scope seen for further short-term strength, though, risk is for the formation of a bearish flag, ahead of relapse. Immediate resistance stands at 1.45/1.46 zone, and only regain of 1.5044/52 area to strengthen the outlook.

Res: 1.4497, 1.4517, 1.4547, 1.4579
Sup: 1.4349, 1.4326, 1.4294, 1.4230


USD/JPY

Accelerated losses after forming a double top at 93.53/64, to reach 88.95 low yesterday. Bounce on oversold hourly studies is now under way, with 90.47 offering immediate cap, ahead of 90.93. Downside, loss of 88.95 opens 88.25, key longer-term trendline support.

Res: 90.47, 90.93, 91.43, 91.86
Sup: 88.95, 88.25, 87.96, 87.75

USD/CHF

Pair remains solid as the market climbs to challenge a long-term falling trendline at 1.1785, with 1.1584 seen so far. 1.1417, lower spike rejection of 19 May, now underpins immediate advance. Clearance of 1.1584 will open 1.1677 next.

Res: 1.1584, 1.1605, 1.1675, 1.1700
Sup: 1.1449, 1.1417, 1.1402, 1.1377