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  • Myfxbook Of Account Following Trade Ideas From Trading Room

    My colleague, Ace, has been running an experiment these past 2 months that I thought you guys might find interesting.

    He's trading an account using a mixture of the member trading ideas from our 24hr trading room.

    There is some discretion involved, not every trader gets copied, but the majority do, particularly during the Asian session.

    I think this is a really good endorsement of what we can achieve if we put our heads together and work as a team

    Keep up the good work people!!!

    I'll let Ace fill you in on the details of how he discriminates between ideas.

    Audio Interview with Jay from SteadyCapture Now Available
    Click Here To Listen

  • #2
    Where is Ace?

    Comment


    • #3
      to be clear, its not me

      Comment


      • #4
        Originally posted by ace View Post
        to be clear, its not me
        lol... there are many aces amongst us...
        The forex market is already so complex, don't make it worse.

        Comment


        • #5
          Hi Everyone,

          Sorry for the delayed response. Before I begin, I would like to emphasize that due diligence check (DDC) is highly crucial and must be performed before executing a trade idea.

          I considered a trade idea an additional tool to identify more opportunities within a lesser time period.

          Here are some tips that I relied on:

          1: Practice patience while waiting for the price to fall in place. Firstly, do not execute an order immediately, but instead place a pending order. However, if you missed some potential trade opportunities during the observatory stage, do not get discouraged as you may enter at an unfavourable price thus it may affect your R&R.


          2: Never over-trade! There will be times where there are multiple correlated pairs of trade ideas which are similar being posted. It is not recommended to follow all of them as the market may turn against you so do your own risk management and do not over expose yourself.


          3: What to do when trade ideas are against each other? It is perfectly fine to hedge them if you are well-aware of your actions. However, I highly advised performing the required DDC and only execute in one direction.


          4: Analyse the trade ideas with your own findings and see if they sync along with the other traders. By doing so, it provides you with more assurance as the other traders, who are using different trading tools, has similar views too.


          5: Request for an SL/TP if the trade ideas do not provide them, you may do so by posting a comment on their page. Alternatively, you may wish to set your own SL/TP. Consider these trade ideas as a bonus, not an entitlement. Remember you always have full control over the trades.


          6: Always have SL in place if you are absolutely clueless or have little knowledge on what you are trading.


          Here is a list of people I have been monitoring of late:

          Jay (analyst) - You have to watch his live stream for trade ideas
          Albernas
          WingsFX
          Trendline Trader
          TravisN
          Drcdp

          Please feel free to share more potential traders whom you've been following.

          I hope this trading room will serve as a useful platform to identify and discuss potential opportunities together.

          Cheers.
          AceFS
          Patience, Patience & Patience!
          http://www.myfxbook.com/members/xMrAce/acefs/1829138

          Comment


          • #6
            Hey guys,

            If you missed Jay Live stream yesterday about AUDUSD SHORT - Entry Price: 0.74954, SL: 0.75335

            And also a few trades that I took which are in DD (you can enter now at better price level):

            TravisN: XAGUSD LONG - Entry Price: 19.251, SL: 18.640. TP: 20.140
            Klass: EURGBP LONG - Entry Price: 0.85057, SL: 0.84273. TP: 0.85826

            All the best
            Patience, Patience & Patience!
            http://www.myfxbook.com/members/xMrAce/acefs/1829138

            Comment


            • #7
              Hey Guys

              A good sell setup by klass:

              USDCAD

              SHORT

              Entry 1.32490 | SL 1.33480 | TP 1.31510

              Possible retrace from there, probably will get it during news.

              *Trade cancelled, did not hit Sell Limit before it went TP
              Patience, Patience & Patience!
              http://www.myfxbook.com/members/xMrAce/acefs/1829138

              Comment


              • #8
                A nice pending order by Dacorum.

                EURJPY

                LONG

                Entry 114.38800 | SL 113.64700 | TP 116.08900


                A good risk reward , 1:2 , a pair which isn't correlated to my existing positions.
                Patience, Patience & Patience!
                http://www.myfxbook.com/members/xMrAce/acefs/1829138

                Comment


                • #9
                  Closed Klass - EURGBP (+73 pips) , Billman (+246 pips) - GBPAUD , instead of bringing over the weekend as both trades are close to TP.

                  Looking forward to next week!
                  Patience, Patience & Patience!
                  http://www.myfxbook.com/members/xMrAce/acefs/1829138

                  Comment


                  • #10
                    Entered a few tight S/L position for EurJpy, EurChf and AudCad.

                    No clear direction yet or any pending setup. Be wary of BoJ press conference.

                    Stay safe!
                    Patience, Patience & Patience!
                    http://www.myfxbook.com/members/xMrAce/acefs/1829138

                    Comment


                    • #11
                      2 awesome trade ideas to look out from klass~ (I've personally entered both trades)

                      USDCAD
                      LONG
                      Entry 1.30781 | SL 1.30200 | TP 1.31310

                      XAUUSD
                      LONG
                      Entry 1333.00000 | SL 1319.00000 | TP 1346.00000

                      Patience, Patience & Patience!
                      http://www.myfxbook.com/members/xMrAce/acefs/1829138

                      Comment


                      • #12
                        Another potential trade risk:reward 1:1.8

                        By: Jsjusa

                        NZDCAD
                        SHORT
                        Entry 0.95790 | SL 0.96850 | TP 0.94000


                        It fit into my current portfolio after closing USDCAD Long (strong downtrend, doesn't seem right to me).
                        Patience, Patience & Patience!
                        http://www.myfxbook.com/members/xMrAce/acefs/1829138

                        Comment


                        • #13
                          It's Friday, but I do see a good R:R posted by vinhlq

                          USDCAD
                          SHORT
                          Entry 1.30600 | SL 1.31050 | TP 1.28400

                          Do your math and you know it is worth it.
                          Patience, Patience & Patience!
                          http://www.myfxbook.com/members/xMrAce/acefs/1829138

                          Comment


                          • #14
                            No idea what to trade on Monday Blue?

                            Follow Jay our Analyst who stream daily at 12:00 SGT!

                            XAUUSD
                            SHORT
                            Entry 1336.80000 | SL 1341.00000 | TP 0.00000


                            My recommended TP: 1332 or 1327 depending on your risk appetite.
                            Patience, Patience & Patience!
                            http://www.myfxbook.com/members/xMrAce/acefs/1829138

                            Comment


                            • #15
                              Yesterday Tony (Analyst) was shorting USDMXN during the stream, although I missed the good entry, I executed it immediately during the dive.

                              Open Price | Closed Price | Pips
                              19.65280 19.52040 1324.0
                              Still, manage to grab a decent profit within 50 minutes.
                              Patience, Patience & Patience!
                              http://www.myfxbook.com/members/xMrAce/acefs/1829138

                              Comment

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