DislikedYap i see what you mean mate, thanks for your answer. Whats your personal take on GBP/USD? We have alot of USD news in 1 hour and 30 minutes to come so it freaks me out on taking a long position.Ignored
Measure twice, cut once
Trading trendlines and chart patterns only 8 replies
Modified, useful MQ4 utilities, indicators, and related tips 21 replies
Are indicators useful? 28 replies
Too many drawn Trendlines all same look: how to draw Trendlines with different look? 2 replies
DislikedYap i see what you mean mate, thanks for your answer. Whats your personal take on GBP/USD? We have alot of USD news in 1 hour and 30 minutes to come so it freaks me out on taking a long position.Ignored
DislikedLet the brigade of all the nervous traders try to make a dollar or two out of news-trading Let's see if within 3 hours we'll have a close 0.5% above when all the news have broken 10000's of hearts and accounts. Till then, I'm enjoying my coffee.Ignored
DislikedCant agree more with you mate Very straight and solid answer. Thanks for your time buddy. Lets see if we get that 0.5% we want. Do you see divergences on nearly all pairs eadiaz?Ignored
DislikedAfter the massive bull/bear moves we have seen on all pairs, I guess divergence at some point becomes almost natural. Another hurray for every divergence-trader who bought every pair 400 pips upIgnored
DislikedSo as far as I was reading, studying your threads and posts I noticed that you dont innitiate positions from the TL touch? You wait for 0.5%-1% close below/above certain level to enter a trade? Correct me if im wrong.Ignored
DislikedCorrect. Only way to trade as you mention, successfully in the long run, is by drawing the same way as Igrok does.
Remember, as said before, trading is about probabilities. There is so many different rates and markets to trade that you should only pick those where probabilities really stick in your favour. That will raise a strong level of confidence after x amount of successfully trades, which is very much needed, IMO.
Make sure every trade you initiate, you've calculated 2 scenarios; when to get out and when to take profits. If you don't, you've already started to stack the probabilities against yourself for a profitable trade.Ignored
DislikedYes, for sure. I never innitiate a trade without a clear level to put my SL and reverse order in case it breaks to the other side. TP set by the book as well according to patterns I am trading. Also sometimes im taking partial profit @ some significant S/R level and letting the rest to run free as planned before. You mean by drawing same way as Igrok does is that he includes full price action (wicks) or you had anything else in your mind?Ignored
DislikedThen you're 1 step ahead. Notice when you enter any trade and look for TP, watch out for previous HL/LH. In most cases they will spark a small/big reaction on any TF.
Yes, including wicks. Have a look on this perfect TL which fulfil the requirements Igrok set for a TL;
In this scenarios, I would not wait for any close. I think this thread is already too complicated for many to mention more about this field so I only include this in the conversation we have here.Ignored
DislikedThank you for your kind words. This was indeed a perfect TL. very nice drawing and trading!!! Im learning, reading and making my own analysis every day, even on weekends, when we men should be having fun, i stay inside and try to learn something along the way. Like everybody of us or nearly everyone i have burnt my first 5k account in like 6 months, due to the all simple reasons that i wont go into detail to describe. I was trading with Islander his ifib method - bobokus and skunnies fibo hybrid on m5/m15 timeframe and it seemed so easy and straightforward untill my money was flying like shopping in Versace store. I didnt believe nor in the method nor in myself, though Islander was making good money, and he is a really good trader, knows and trusts his method. So i started swapping methods and the shit went down, if you know what im talking about. Soon i was sitting with $250 in my trading account and with no trading style at all. Ive lost time, money and my confidence not beying on the right road, but i take it as a learning fee, and think that its like a phase we all have to go thru to find the truth that is out there, and to start believing in our selfs and take full control in what we do. Then one day i met J.P (im very gratefull to you my friend) and he introduced me to TA by the book, also pointed out your thread, Igroks thread, the ones that i never was reading, always was skipping, damn i was stupid. I started reading and drawing. Now im starting to believe in my lines and they actually starting to make sense. Im making my own style. All i can say now that your trading style is very nice, your thread as well. Good work eadiaz and keep the ideas floating!
Cheers!Ignored
DislikedWe have 4hr close on GBP/USD @ 1.7748, do you consider this 0.5% from the TL?Ignored
DislikedI'm glad you're on the right track, so it seems from your post too. Both you and JP seem to get things really quick and I hope both of you manage the learning-curve. I'm glad you skipped the fibo systems it simply didn't make any logic to me at least.Ignored
DislikedWell eadiaz, I just hope that all the hard work, all the sleepless nights, and countless hours of screentime and reading, will pay off at some point. Well i guess your right about the fibo systems, anyway we cant get something to work for us when we dont understand it completely not talking about trusting it, can we? Its still a long way to go me thinks but for one time in my trading carrier ( if i can say so hehehe) im damn sure im on the right track. Step by step is the way to go.
Ok, back to bussines.
My TL is around @ 1.7682. So 0.5% would be around 88.41 pips, if we add this to the TL's price we get something around 1.7763 You see this somewhere the same?Ignored
DislikedAs long as you still manage to have interest for what you're doing, I'm sure it will pay off. For me, I still like trading. If I didn't enjoyed it, I wouldn't have survived long no matter how many millions the wage would be.
Btw, if cable close at this level, TL is broken (.7780)Ignored
Disliked.7780 hmm i have my 0.5% @ .7763, 17 pips difference...Lets assume we get our wanted 0.5% close above the TL, so where would you place your SL?Ignored
DislikedThats a wide SL mate, but I guess its all good. Better be safe then sorry. Thanks!Ignored
DislikedAs long as it fits your account % it's no problem. Second, you have the odds stacked in your favourIgnored