If you make money, does Oanda make money? 35 replies
EveryDay just need 10PIPS for make a living . 7 replies
Bulls make money, Bears make money. And Pigs get slaughtered. 12 replies
Everyday I make around 80 pips 33 replies
Short Term / Medium Term / Long Term? 3 replies
QuoteDisliked[*]While the result was correct, was bailing out where I did appropriate or do you think I panicked too soon and just got lucky?
QuoteDisliked[*]Given the rejection at 4195 and the subsequent move down and retracement, would a short at either of the places marked with a circle have been sensible?
QuoteDislikedWhile it would have gone to TP, would I have been getting the right result for the wrong reasons?
DislikedWell I don't think it was luck. Think of it this way, If you had to answer to someone for your decisions, could you make an actual case for the business decision you made? PA had failed twice on you, it was enough for you to be done and to move. Spend as little time as possible with unprofitable trades and spend more and more time with profitable ones.
Again, can you make an argument AT THAT TIME for your business decision? It failed, it failed, it bumped up against that level.... The thing to be careful with is playing with such a small tick...Ignored
DislikedMongolian,
Have been following your method and thread with great interest. I notice that in many of your recent posts you have mentioned that PA has been messy/choppy. In that light, I wonder, since the start of the thread, have you been able to maintain your average (4 out of 5 trades as mentioned in #10)?
With thanksIgnored
By mathematical convention, 68.3% of your dataset is always within one standard deviation of its average. If you double your standard deviation, then 95.4% of your gold price data is always within plus or minus these two standard deviations from your average. At three standard deviations, 99.7% of your price data is included. This all sounds academic and abstract, until you realize just how practically it can be applied to trading and technical analysis.
DislikedIn previous posts I have preached to stay with the trend - the trades I recently posted were counter trend trades so I feel I should explain why I shorted when the market had been up for the entire Asian and London sessions.
The answer - COG (center of gravity).
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Google standard deviation and you will see that while price does go and stay beyond the first SD - the probability of it doing so is small. So with the COG pointing down and price dancing above SD at a double zero - to me this is a high probability trade. The quarters...Ignored
DislikedPlease do not let me influence your trades - do what you do, but let me point out that statistically it would be a very rare occasion for price to travel much further south during this session.Ignored
DislikedAgain - not saying that price WON'T go lower, because it CAN - just stating that there is a high probability that price will not go much lower.
I have a science background so statistics make me blush.
Ignored
trading is not difficult,
trading profitably is not difficult either.
there is a fine line between a trader and a profitable trader.
a trader fights the market,
a profitable trader goes with the market.
how to go with the market?
the market gives signals to its intentions.
the good thing is, the market does not discriminate you base on gender, nationality, religion, skin color, education...
everybody gets the same signals.
no, the market does not discriminate you based on which school you went to...
you don't need to have the brain of a rocket scientist to succeed.
you don't need super computers with esoteric indicators or secret black boxes.
all you need to do is -- don't argue with the market.