New Tadawul FX Trader on the Forum

Up so far .015% how is everybody else doing today?

Welcome mideastman in this forex community. As you have already worked in forex industry so I want to know what is Forex gadgets. Please share some details about forex gadgets if you are familiar with it.

mideastman:
Just wanted to introduce myself as I am starting the dive into Foreign Exchange trading on the Saudi Stock Exchange (Tadawul/(السوق المالية السعودية (تداول. My background is that I worked as a prop desk trader at a boutique hedge fund in London. I traded strictly equities and used the Tradestation platform while others in the office worked off of a bloomberg terminal. I used the ADX as my main trading signal along with various other factors and numbers/data coming out in the market to help affect my overall trading that particular day. Used a modified RSI indicator as well so that once the equity I was trading in hit a 60+ that would be a trade signal. One additional thing I used to look at was EMA (exponential moving averages) on a 5,10,20,& 50. Trading success in equities was moderate but with new schedules and a different life today I have decided to tackle the FX market. I welcome all of your feedback & advice and look forward to being active here at FXFisherman.

Welcome to the forum. If you are looking for advice on trading and the differences between Foreign Exchange and equity trading I suggest you do your proper diligence as there are a lot of articles online as well as helpful threads here. Also all traders should read Brett Steenbargers psychology books as they are a great deal of help.

-Cheers

As i am trading using the EMA i will advise that you must use the 12EMA and 20 EMA for best Intra Day trading results .

This does not apply for Commodities, only for Major Forex pairs and crosses.

Why do you sau that a 12 and 20 exponential moving average is best for intraday trading results? Isn't it entirely based off of your overall feel and comfort level?

Can you please provide more information as to why thats more beneficial for trading foreign exchange and which pairs you commonly look at.

Thanks

Yes i say t hat based on my personal experience and the level of Profits that i have achieved using that system of trading.

As for the pairs i trade in the Majors only.

Based on your level of profits? If you don't mind me being rude and asking about your average profit, time you have been trading, do you trade the tadawul , how many years did it take you to become profitable, is it a set system you trade off of or do you manually trade every day, how many hours a day do you trade the pairs?

Sorry for all the questions just want to be the best trader I can be.

I have been trading for 5 years. The 10,000 hour rule applies undoubtedly for trading as well and the harder you work at it the better you will become but it takes time. Average profit for me is $300.00 over the last 12 month trading calender. I started trading forex pairs that suit my personality. it's hard to explain but it's part of the learning process in becoming a top trader which is largely based on psychological prowress. I can reccomend a few great books starting with the classic: "Trading in the zone".

Though i like to keep most of the details personal

Still i will tell you some.

I use a combination of tools that make me some 100% profits every month.

And i am trading with UWCFX

seeing if you have any updates on how you have been trading this week. What have been your highs, your lows, and so forth? Also do you trade the saudi exchange as well or just the usual pairs?

To PiPs!!!