it's no secret all of my income was originally from equity...

  1. 1,937 Posts.
    it's no secret all of my income was originally from equity trading, and still is to a very large extent.

    my biggest problem with currencies was not using daily currency charts more and trending too much from hourly's. ok if you want to swing trade for 100 pips here and there all the time - but it took up way too much time for me.

    am now trading currencies and commodities more like equities and enjoying it a whole lot more. trading from shorter time frames makes me too pscyttish and increases my risk exponentially because it increases my frequency.

    targets, turnpoints and support all come from dailys - just like they do for equities. if it's not a turnpoint on the daily then its not a turnpoint.

    for example jumping on the EU 61FIB top (for a short)recently.

    copper is still a mongrel, but the duracell copper top came from the daily, clearly timed with the bottom of the USD (fundamental reasons behind this also). gold (entered at 1310 have taken profits out at 1362 recently for safety), USD all the same now. now going to focus on what silver is doing.

    second to none, currency charting taught me more about T/A being 24 hour markets. but it also taught me some very bad habits that trading equities didn't - using short time frames. I'm more a rivers and streams trader, not an eddies and swings.

    the plan was never to chase 100 pip moves since this is not what I do for equities. I follow the gold trend for my gold stocks, silver for silver stocks, copper for copper stocks etc

    since nothing trades in a vacuum, the logical extension of all this was to the root of all evil ... currencies.

    as you know winks, I haven;t left fundamentals behind. the volume of knowledge out there to be gained is too much for one man alone ... and that includes not listening to MSM at all.
 
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