Relax and be happy.
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Quoting MoneyMa$terDislikedAnd welcome to reality tv!!Ignored
Quoting summitfxDislikedStradlling the news just isn't working for me anymore since I learned the technique form MoneyMaster. I like Merlin's "fade that shit" philosophy.Ignored
Quoting BurgerKingDislikedI only managed a +14 on the buy.
If history repeats itself, EURUSD/GBPUSD could go down again..
though it was bad, some could see it as "ummm, hey its not that bad"...
PS. I have a TTN (DEMO again), they released the news, and the move started a few seconds later. However, I hesitated to short GBPUSD because I noticed the enlarged spread at IBFX... Seeing that the spread could easily eaten the possible profit, I waited to fade the news instead.Ignored
Quoting summitfxDislikedAre you really in the Phillipines?Ignored
Quoting BurgerKingDislikedI am indeed.
Hey summitfx, I like your Fibonacci Pivot system! 1.8996 exit on the short was twice accurate
Back to GBPUSD... I dont have historic data (i only reviewed 30 minutes before and after...) to further predict what to happend from now on hehe..
its a gamble to go long or short but I guess, TA will shine from now on. TA people, whats your call?Ignored
Quoting MoneyMa$terDislikedMaybe it's just me, but I don't understand "this or that" type-thinking (FA or TA). What's wrong with FA and TA?
I understand an inclusive, dynamic mode of thinking that incorporates TA within the context of FA. This broadens the trader's vision and options until it's necessary to move to the micro level and enter the trade. Forex is indeed a dynamic market, so much so that focusing exclusively on a particular trading strategy or mindset must necessarily generate tunnel vision, accompanied by the inevitable blindside collision.
Seems to make more sense to: (1) have a comprehensive tool box (that's the FA & TA), designed by and tailored to you, then (2) employ a specific tool for the particular task at hand (that's the micro level, pulling the trigger at trade time, be it news, scalping or positioning).
Just my two pips worth.Ignored
Quoting MoneyMa$terDislikedMaybe it's just me, but I don't understand "this or that" type-thinking (FA or TA). What's wrong with FA and TA?
I understand an inclusive, dynamic mode of thinking that incorporates TA within the context of FA. This broadens the trader's vision and options until it's necessary to move to the micro level and enter the trade. Forex is indeed a dynamic market, so much so that focusing exclusively on a particular trading strategy or mindset must necessarily generate tunnel vision, accompanied by the inevitable blindside collision.
Seems to make more sense to: (1) have a comprehensive tool box (that's the FA & TA), designed by and tailored to you, then (2) employ a specific tool for the particular task at hand (that's the micro level, pulling the trigger at trade time, be it news, scalping or positioning).
Just my two pips worth.Ignored
Quoting MoneyMa$terDislikedMaybe it's just me, but I don't understand "this or that" type-thinking (FA or TA). What's wrong with FA and TA?
I understand an inclusive, dynamic mode of thinking that incorporates TA within the context of FA. This broadens the trader's vision and options until it's necessary to move to the micro level and enter the trade. Forex is indeed a dynamic market, so much so that focusing exclusively on a particular trading strategy or mindset must necessarily generate tunnel vision, accompanied by the inevitable blindside collision.
Seems to make more sense to: (1) have a comprehensive tool box (that's the FA & TA), designed by and tailored to you, then (2) employ a specific tool for the particular task at hand (that's the micro level, pulling the trigger at trade time, be it news, scalping or positioning).
Just my two pips worth.Ignored
Quoting crl212DislikedDoes it really matter what the reports say? Can you really trade the reports?
How many times have they had two different talking heads on CNBC taking opposite positions after the news release? These are "experts" who can't agree. How is it that us mere mortals have any chance to decipher the information contained in these reports?
I don't even bother trying because the market is always right anyway. I just trade price action.
There is a quote from one of the Market Wizard books that goes something like this," Don't worry about what the markets are going to do, worry about what you are going to do in response to the markets".
I think that says it all. The less I tried to predict price action based on reports and the more I traded price action the easier trading became.
A lot of trading systems in this web site follow price action, I think it's a good way to trade, but also be aware when reports come out.
Trading is hard enough, trying to "argue" with the market when it moves against you and takes your money isn't a good strategy.Ignored
Quoting MoneyMa$terDislikedSeems to make more sense to: (1) have a comprehensive tool box (that's the FA & TA), designed by and tailored to you, then (2) employ a specific tool for the particular task at hand (that's the micro level, pulling the trigger at trade time, be it news, scalping or positioning).Ignored
Quoting crl212DislikedDoes it really matter what the reports say? Can you really trade the reports?
....
A lot of trading systems in this web site follow price action, I think it's a good way to trade, but also be aware when reports come out.Ignored
Quoting mrmikalDislikedThe point I'm trying to make is merely that traders would be more effective getting their bearings from the news while relying on price action to complete the story....
Let's just put it this way, the reaction for an individual piece of news isn't necessarily enough to determine the longer-term direction of the market. Therefore, there is a general MOOD for the market. At some point, there is a tipping point of news or a series of news related events that determine this mood. ...
This is what I mean by being fundamentally inspired. Fundamentals is NOT necessarily news trading. The talking heads disagree with announcements when they initially come out (at release), but in general, there is concensus on the effects of the announcement, and while this doesn't help on intraday trades at the time of the release (unless the mood has already been determined), enough news in one direction givese a trader all the information for basing incoming trades using either the individual news trades (in the direction confirming the mood) or technical analysis.
I just think being able to determine the longer term direction of the market is easier with the help of fundamentals. My winning percentage is so much higher when I can get the TA to agree with my FA...and I suspect a lot of traders would agree.Ignored