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Philstrading

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About Philstrading

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  1. Well I did post mine off verbatim as per my post, before I posted it here infact.. If implemented it will stop many new traders entering the industry due to the financial restrictions, which to some extent the industry needs..
  2. The only way this will effect retail traders/investors with smaller capital is to make it impractical for them to trade and develop. For other more lucrative investors it will still restrict potential for trading/investing. You are essentially saying if you have only smaller amounts of money you can't trade, and only richer people should have that opportunity, essentially restricting the ability for the average guy to develop themselves by putting ridiculously large margin restrictions on and preventing them from trading due to insufficient funding and preventing the average guy from learning and developing capital for themselves, and in so doing further reduce the ability for the average person to have the opportunity to develop and make money in the industry. As a Retail Trader I have come across quite a few people who lose substantial money in the markets, some are exploited by unscrupulous companies who will continue to do so irrespective of what you do, others have the gambling mentality and chase after money losing more and more as they go along. These sorts of people will be unaffected by the margin increases, often they are wealthy and can afford them and I speak from experience with other people not from a notional perspective. I can say from experience that the increased margins do not affect those people who gamble in the markets. Gamblers will always be there and can be seen in all walks of life in the betting shops where my wife works spending their pay packets and credit cards to the tune of many thousands a day. The trading gamblers won't be affected just the retail traders with smaller accounts. If the thought is to prevent people from losing too much money you would be wrong in assuming this would do anything of the sort. This will only make it almost impossible for the average person to train and develop themselves in this industry... the proposals are discriminatory to people with small amounts of capital where it will prevent them from entering trades and so be impossible for them to develop as traders. The proposals do not reflect the ethos of the country to provide opportunity to all people, not just those with money. It is overly restrictive and won't address the issues for those who get exploited or who lose through having gambling mentalities. If you want to stop people losing money you will need to ban the right for personal expenditure on investments altogether. A person has a fundamental right to do what they want to with their money. There are already natural restrictions on trading as if you don't have the margin and capital to trade the risk the trade cannot usually be taken. All these restrictions say is you need to be lucrative with money in the first place and the average guy with small capital is not allowed to develop in the industry. Those trading in stocks or using the full capital won't be affected either I guess so what is being prevented, just the little guy with not so much capital getting on. Bring this in and you are turning the country backwards to a more fascist regime of keeping the little guy at bay. The proposals are fundamentally flawed. You need to trade live to learn in the markets and can't do so on demo accounts, anyone stating that simply is not a trader or has little or no experience of trading. Bring this in at the peril of the industry and more so the country.
  3. Hi guys. Here are 2 trades I followed, this is a retrospective account, I will look to record some trades with the follow through live, and post accordingly. The aim of this post is to look at optimisation of trading and some benefits of ProRealtime that facilitate this. Here is my perspective on how to get the most out of using ProRealTime and optimising profits with strategy. Essentially it involves active trading, but hopefully it will click that the charts are fractal in nature, meaning that the patterns for strategy can be found on any timeframe right down to ticks and volumes. Here I am looking at 2 recent trades I failed to implement due to the fact that I'm working night shifts as a nurse and was too beat and fell asleep on one, and was too clouded from fatigue with the other, but I chose these as it highlights not only a profitable way to use the charting packages if actively trading, but highlights the need for a work/life balance, also chose these two as they are quite current. today and yesterday (17/18 Jan 2018). Hopefully you will benefit from the insights and make the following years a more profitable one!! Happy Trading! ..
  4. Hi Fibking I enjoyed your video, a nice addition to analysis for sure... I notice its on the weekly but across timeframes I assume.. useful perspective..... As a side note you can extend your video time on youtube simply by adding your mobile number i think, I did it on my account and you can make recordings without limit of time, its been a while but I think its just a case of adding your mobile number... Thanks for the contribution..
  5. Thanks for that donaldprice... I'm noting the S/R levels and will be watching to see where price trends to, looking toward intraday here until a setup shows itself... 
  6. Thanks Mercury.... Well I was in a bullish trade on usdjpy and risk free with 2 partial profits taken and a partial running with a positive stop.... partial stop had slippage of 24 points but was bearable due to its size... JPY news last night somewhat volatile, but I don't trade based on possible volitility related to news due to putting you into a losing trade and just coming back to its original price normally.... you can make snap profits of course, but I'm not a news trader where high volatility is expected, I will rather go down to ticks and look for the trend and make a ltick chart entry or lower timeframe entry- you might have to go to 100 ticks or so but if spread is OK then perfectly feasible to trade the sharp moves if they are continuing... usdjpy last night would have been good to trade at 100 ticks... I was snoozing here in the UK of course... I'm now looking bearish based on the weekly towards 10,500 but will see what support it pulls back to after the volatility....
  7. USDJPY is currently at a key turning point on the daily overshadowed for an entry point by USD 3* news and FOMC statement today,,, I like this level but news could push it both ways and technicals are as I see them somewhat indecisive due to the cycle and levels. After today I'll either be bullish or bearish but will be sitting it out until after news and price has made up its mind... Daily entry would be above the 11147 level which could be rejection of course... usd news and fomc announcements a bit off putting... I like the level but not the cycle or the news.. there is also a similar pattern on the daily where there was some indecision and a move higher before a sharp drop, I'm noting the momentum pattern here too... I'm sitting out due to multiple usd news but I will look for bullish entries if price moves unless below 11067 ish, and then look to the 10,500 level based on the weekly.  
  8. Hi, I'll just share my analysis with you to give a perspective on the pair... On weekly it broke bearish and is currently reacting to weekly s/r around 18,300 or so... On the monthly we are uptrending and the level has acted as resistance in the past also. The level clusters with 50% and also 78% if u care to use that in clusters ... Apologies for formatting (first post) There are 2 possible reactionary levels I see on the daily, one where price is at the moment and one slightly above around 18800. Coming down the timeframes to look at the 4hrly i see the support and a new higher high. Essentially if uptrending I would lean toward a retest of the 18500 level which is showing as 4hrly S/R perhaps looking intraday toward18800 level. The hourly is slightly messier, but shows that it could retest to the 18600 area. For this pair intraday I'm probably just looking to see what price does for now, as it may consolidate around its current level perhaps coming down to 18600 or so or pullback and conitnue to trend up . The current level is also at the daily oblique resistance trendline shown in red in next chart which also has historical significance, I might expect some pullback at this level but will certainly be stalking the pair and noting a break of the trendlines. Some LTF intraday opportunities for sure, with medium to higher timeframes leaning to a possible bullish break if the medium term timeframes push through the current resistance levels indicated. Arguably the daily trend could be considered broken but its current chanel is yet to be broken out of on the daily. Looking for bullish opportuinities or if failing to break bearish below 18300. Hope that helps...
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