T-55 minutes until London opens. Look at that chikou span

T-55 minutes until London opens. Look at that chikou span.

Here. We. Go.

im not in this business , is there money to be made?

Imagine near-infinite liquidity and trading in currencies that individuals can't manipulate. Also imagine much lower transaction costs than shitcoins.

I made over $300 USD on a position I held for about an hour the other night. You can actually do this full time if you're good, though I'm told it takes something like a year or more to get that good.

It's a lot easier to do margin trading than the crypto markets, which is a double-edged sword. On the plus side, you can actually short a currency and play both ups and downs easily. On the minus side, if you're not careful you can burn through everything really, really fast.

One of the other big downsides is that the markets are a lot sharper and trade on a much larger amount of information and variables than the cryptos.

There is actual manipulation as well, but it mostly takes place at the nation-state level rather than the individual trader level (and maybe at the institutional trader level for the exotic pairs).

Slid a little before the London open, but shit started to pick up pretty quick.

WE ARE THE GBPMARINES

we are the royalmarines

All this brexit volatility has made me some serious gains. Will never forget the amount of win when I went short in GBP/EUR just before the Referendum. Feels good man.

>id's habbening, gubna

The fuck's going on?

someone please explain this thread

what time frames do you trade on?

I try to stick to 15 minute window size, only really drill down to one-minute to double-check trends.

I typically aim for trades to stay open for a few hours at most. If I don't hit my profit target within that time, it usually means I fucked up reading the charts. I'm still learning to be honest.

UP WE GO!

Nice call man.

How did you know?

>tfw my OP graph shows 1.3085
>tfw graph at the breakout shows 1.3087
>tfw current price is 1.3055

Guess I shoulda shorted.

good boy points are mooning

There was a brief rally when NYC opened. Then it fucking cratered. I lost about $400 when I stopped out.

Made most of it back on the chaos gripping the Euro over the last half hour or so though.

No trailing stops in forex? Bummer you couldn't capture the profits.

>chikou span
nigga you can't just go around making up words!

baka! Ichimoku Kinkō Hyō desu senpai

Currency trading: Great British Pound vs US Dollar

is ichimoku the same as chikou or whatever that is ?

chikou span is the jap word for lagging span. it's just price shifted 26 days back.

so how did op use this to gain?

Using TA ever.
Kek.

Pic related is without TA and my own custom robot.

When chikouspan crosses above price it is taken as a bullish signal. When it crosses below price it is a bearish signal.

Not all of us can program trading bots. I agree than quantitative analysis is > than TA though.