I have learned from playing 5 online tourneys that I have to stay conservative with my chips. The only thing that I am doing badly right now is calling bets that are too high. One sure way to improve right now is to save my chips as much as I can. This will be my focus going forward.
“If you watch the candles form, the Eurodollar has a smooth movement to it, and a predictable way that people trade it. By watching 1 minute candles form, I can tell what people are doing. I can tell when they’re taking profit or having their stops run.
Seriously–I only have one piece of advice for anyone: watch the price move on the small time frames for a couple weeks.”
Timeframes Orion uses:
“Supposedly the 15 minute chart, but in reality I spend 90% of my time trading switching between the 5 minute, 1 minute, 15 minute and hour charts. I spend most of my time on the 5 minute charts when looking for positions, 1 minute for entries, exits, and scalping, 1hr for trend (thanks strat!), and the 15 minute for short term trend and SnR plotting..
Also I only trust candlestick patterns on the 15 and above
The main thing I’ve learned about time frames is that if you don’t see a clear picture of what’s going on: switch the time frame. One of them always has the secret. And I’ve found it’s usually the 5 minutes.”
“what you do is you take your risk which would be total account x 30%, then take that number divided by your stop, that will give you positions.”
80% of the time, frankfurt opens, has a 20-50 pip push, and at the bottom, top of that push, will be our trade. Frankfurt opens at 2 AM.
yeah, i have a trade placed between 2-4, and i just let it ride till i wake up. ive looked back in the charts, most of our trades form between 2:15 and 3:15.
60 pips a day x 5 days x 10 posistions = $30,000 a weeK- Rodehard
it seems like 1 nice frankfurt trade and 1 nice london trade is a good day
deff goin to micro helped though it helped me realize that 2,3,4,5 losses in a row can easily be made up by 1 win
From his book, read and learn:
-trade day of the month
-correlations between markets
-Greatest Swing Value indicator
Tonight I entered a trade on the USD/JPY. I went long after a bullish engulfing pattern. The price went up and I exited early because I was making a pizza. Got $15, but could have been a lot more.
What I learned tonight is when a market is hot, trade that market. So far I had only been doing USD/EUR, but it was looking very rangy. The USD/JPY was hot, and I did the right thing. From now on I will experiment with other markets and look for the right times to get into trades.