DRFXTRADING's Posts - Page 8

I'm new to Forex trading and looking for some advice in New Traders Dec 22, 2014 at 12:00

NO DONT DO IT!Even if its 1 cent of your money...dont start trading anything with Real Money.You dont have a plan of trading as yet, you have no track record on Demo, so essentially you will be experimenting without any clear strategy. You are more likely to lose your money which have a more negative psychological impact than if it were Demo money-no matter how small that Real money is.Day Trading to get your Capital up sounds like a good plan on paper. But Day Trading by itself pushes you into several bad habits that are hard to break away from - habits that will make it difficult to Swing Tr...

I'm new to Forex trading and looking for some advice in New Traders Dec 21, 2014 at 14:23

Thank you for your advice it has been very helpful, I just want to start to earn £100 profit every two weeks (start off small), day trading is more my style, so is there any secret to earning big profits over time or is it just practise? And what brokers do you recommend I set up my demo account on?Well, you said that Day Trading is more your style, but that £100 target can be achieved Swing Trading only twice per month without the hassle of trading everyday. Take this table as an example, assuming you start of with £1000.http://www.myfxbook.com/files/DRFXTRADING/MYFX...

I'm new to Forex trading and looking for some advice in New Traders Dec 20, 2014 at 22:54

Start from the top, drill your way down..FINANCIAL GOAL.. decide how much you want to earn from Forex... will determine type of trader you wanna be, the Method you use..DAY TRADING vs SWING TRADING...Day Trading most popular..very short-term intra-day trading...affected by a lot of volatility...most difficult means of earning.....Swing Trading, not as popular..focuses on the bigger picture, larger trends...trading not everyday/week but when trades arise, more than compensate, providing steady long-term earning growth..http://www.myfxbook.com/members/DRFXTRADING/duane/1079693DEMO vs REAL ACCOUN...

Can we do Day Trading and Swing Trading Together ? in Experienced Traders Dec 20, 2014 at 12:37

good idea to test...wonder how practical it would be to do both versus just one...if I am used to fast moves, might get impatient and break my rules when Swing Trading...could also be too patient with Day trading and let trades pullback unnecessarily..turn a winning into a losing one quickly..

Can we do Day Trading and Swing Trading Together ? in Experienced Traders Dec 20, 2014 at 12:32

..basically getting small pieces of the larger move, hoping they add up..sounds good on paper...if it can be done, would get faster gains in half the time....

Can we do Day Trading and Swing Trading Together ? in Experienced Traders Dec 19, 2014 at 12:47

People have been debating whether you should trade one style or another every since Retail Trading began. Given that Day Trading is done short-term and Swing Trading is done every once in awhile, cant they complement each other?

Real traders in Experienced Traders Dec 16, 2014 at 10:56

Patience grasshoper...Real Traders will answer your call in time..Main Reason for failure;1. The marketed belief that trading has to be done every day to be profitable.This is what causes the other problems of discipline, impatience, emotional decisions..etc.If something is not happening as quickly as you are led to believe, its easy to break your rules. Larger Time Frames, Swing Trading is a big part of the solution.4 Trades, 365 Pips, 17% on Demo here http://www.myfxbook.com/members/DRFXTRADING/duane/1079693 - which is 4 trades behind my Live Dukascopy Account (cant be linked to MFB) which ...

DRFX TRADING SERVICE 2015 in Trading Systems Dec 13, 2014 at 21:47

GBP CAD TRADE - 200 PIPShttp://www.myfxbook.com/files/DRFXTRADING/DEC_2_GBP_CAD_LIVE_RESULT_9c.png- False Consolidation Breakout- ABC Reversal Signal

Why 90% of retail traders fail... in New Traders Dec 13, 2014 at 21:47

Risk Management is only part of the problem..Sometimes people violate their Risk Guidelines to compensate for the relatively smaller Pips available per trade each day.With Swing Trading, no need/temptation to break your rule. Larger Pips are on offer per trade and when you target the best opportunities, consistent gains are likely.The most recent trade with my Methodology provided us with 200 Pips on the GBP CAD after only 3 days. http://www.myfxbook.com/files/DRFXTRADING/DEC_2_GBP_CAD_LIVE_RESULT.pngThe strategy utilizes the Daily Chart signals of the New York Close from FXCM. This was the se...

Why 90% of retail traders fail... in New Traders Dec 08, 2014 at 11:54

..Trading on the Smaller Time Frames, Day Trading, ScalpingSwing Trading, Daily and 4 Hour Charts, thats where the money is.Not the most popular or promoted way of trading, but the most profitable.

Socially stunted in New Traders Dec 08, 2014 at 11:32

Welcome..all the best..My advice..Larger Time Frames, Swing Trading, Daily, 4Hour ChartSmaller Time Frames a lot more stressful, challenging more likely to lose than win.Larger Time Frames offer more stability, less false signals, larger Pips per trade.You can compare the results of Swing Traders and Day Traders on this site, see what it shows.Good luckDuane Shepherd

Im lose... in New Traders Dec 08, 2014 at 10:59

Depends..Are you trading Smaller Time Frames or Larger Time Frames?Are you using Indicators or Candlestick Patterns?If you are using smaller time frames, it is going to be a much harder challenge to be profitable consistently. Lots of volatility, small trading ranges and short hours in the Day-makes it really challenging.Larger Time Frames are more stable and give more reliable signals especially based on Candlestick Patterns.Spent 6 years Day Trading, lost it all. Switched to Swing Trading on the Daily and 4 Hour, never looking back.Its early days on my Live Account but I am up 13.0% from jus...

DRFX TRADING SERVICE 2015 in Trading Systems Dec 08, 2014 at 10:58

In my 6 years of trading I have yet to make consistent profits from Day Trading. It was only when I switched to Swing Trading was I profitable. Spent most of this year developing a Methodology and now I am back trading Live using only the Daily and 4 Hour Charts. With almost 400 Pips from the last 6 trades, I am up 13.0%, with only 9 trades left for a 100% Return. The Demo Account here tracks my Live Dukascopy Account but is behind by 3 trades (http://www.myfxbook.com/members/DRFXTRADING/duane/1079693)Given that most people believe that Day Trading is the way to go, I am curious to know what...

DRFX TRADING SERVICE 2015 in Trading Systems Nov 24, 2014 at 07:50

AUD NZD - TRADE 1- Breakout from a Small Range above the Resistance of a large Pennant Consolidation;- Trade Exited ahead of the unexpected reversal- anticipated by criteria of strategy;AUD NZD - TRADE 2- Trading within a Medium Pennant Consolidation above the large Pennant Consolidation;- Entry based on the Candlestick Signal at Resistance;CHF JPY - TRADE 3- Early exit and loss on short trade due to initial hesitation about the trade;CHF JPY TRADE 4- Re-Entered short position after confirmation that trade conformed to Methodology;- Exited at Support as part of the False Consolidation Breakout...

DRFX TRADING SERVICE 2015 in Trading Systems Nov 24, 2014 at 07:48

METHODOLOGY - Waiting on the Daily Chart for Candlestick Entry Signals;- Entry and Stop Losses using the 4 Hour Chart;- Targeting 100 to 200 Pips Per Trade;- Holding Trades for Specified Holding Periods;- Risking 5% Per TradeLIVE ACCOUNT TRADES AT DUKASCOPY (REPLICATED HERE ON FXCM - 3 TRADES BEHIND)AUD NZD TRADEShttp://www.myfxbook.com/files/DRFXTRADING/NOV_2_AUD_NZD_TRADE_RESULT_101_PIPS.pngCHF JPY TRADEShttp://www.myfxbook.com/files/DRFXTRADING/OCTOBER_2_CHF_JPY_LIVE_RESULT_1.pngAUD USD TRADEhttp://www.myfxbook.com/files/DRFXTRADING/SEP_3_AUD_USD_LIVE_RESULT.png

Do Brokers Need Day Traders to Fail? in Experienced Traders Nov 22, 2014 at 08:35

If you were operating a brokerage house that had daily and weekly operating expenses that needed to be met in a timely manner, you would need a regular stream of income to match these obligations. Wouldn`t be in your best interest to encourage clients to trade as often as possible so that your revenue from commissions matches these expenses, regardless of how profitable this is for clients? Given the difficulty of consistently modelling the random price behaviour of a financial asset class at the micro level, who benefits more from Day Trading?

DRFX TRADING SERVICE 2015 in Trading Systems Nov 21, 2014 at 07:59

THE METHODOLOGYThe trades that are shown here were developed from a Price Action-based strategy that uses the most accurate Candlestick Patterns and Signals of the Daily and 4 Hour Charts. These time frames provide more stable and reliable trading patterns and are thus more amenable to consistent profitability. Specific combinations of Chart Patterns and Signals on these charts have been found to continuously provide the most profitable trading opportunities across all Currency Pairs in the Forex Market. Once these signals are identified and traded within the context of established Rules and P...

EURUSD	1.07404	GBPUSD	1.24847	AUDUSD	0.65706
USDJPY	155.172	USDCAD	1.37544	USDCHF	0.90921

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