I am a forex intra-day trader and a longer term investor on the ASX market. I would like to eventually day trade stocks and futures when my capital base allows me to do so. At this stage the brokerage costs would cause me to take too much risk that I'm not prepared to do. My method also is volume based which is difficult on the spot fx market with only tick volume available.
I have attached two charts. I'm not sure if it's better to post my losing trades (plenty of them) or my winners. So I'll post my best ASX trade to date and my recent EUR/USD trade earlier this week.
The first chart is ANZ. Quite an easy trade to spot with a relatively low risk entry. I am still in this trade and will take profit if the current up trend shifts. I'm assuming this will be quite soon as the divergence in price and volume is quite evident. This is a weekly chart BTW, which I just realised it doesn't show.
anz.png [ 18.83 KiB | Viewed 1189 times ]
My second chart is a Euro futures chart (6E). I use futures charts as it has true volume and I trade the signals on the cash market. I just can't seem to trust "tick" volume, no matter how hard I try.
This is a 5 minute chart and was the best signal I had all week. Unfortunately many of my other trades weren't as straight forward as this. My exit was about 50 ticks below my entry after trailing my stop above each lower high.
6E_5m.png [ 46.79 KiB | Viewed 333 times ]
I'm hope WRB can help with my analysis, or more so my entires and exits. I can post plenty of my forex losing trades if needed.