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RE: Naked Trading, anatomy of a chart
Holy cow, nice..you should post your charts more.
The trade that the trader made was a countertrend trade back to the mean. I like the higher time frames and was looking for EOS to cotinue the trending up.
Which pairs do you like in forex and what commodities do you trade?
I love the GBP pairs (and will start posting my forex set-ups soon) and the Majors and like Crude Oil.
PS - the Community appreciates your tips and experience.
Thanks, much appreciated. I'm not a member of the investors club or anything, I just like following all the posts. I trade pretty short term mostly so not really 'investing' like you guys.
For Forex I trade all the majors and a couple of crosses. I only trade uncorrelated pairs where possible, for obvious reasons.
For commodities it's mostly metals that I know most about, but really I'll trade anything if I see an opportunity.
I trade indexes sometimes, usually the FTSE 100 or the DJIA. I try not to trade individual stocks, I prefer 'averaged' markets where one single event isn't a catastrophe. I prefer Forex because it's 24 hr, no gaps ! :-)
I do have some long term shares in battery technology, metals like Cobalt, Lithium etc. That's where the bulk of my money is right now.
I could see from reading several of your post, you are a short term trader. Do you ever trade the DAX? Yeah I think investing in Cobalt is a great idea. Most people don't know cobalt plays a significant role in car batteries and is more rare than lithium.
Sometimes trade the DAX, it just depends on what else is going on.
I usually try to trade different timezones, so if I'm in the FTSE then I won't trade anything else in Europe like the DAX or CAC40 as I find they can be quite corellated. If the FTSE is flat then I'll have a look around Europe though and vice-versa.
I expected eos to bounce at the 15 demand zone, looks like 11-12 is slowing it down. we will see