- Search Forex Factory
- 33 Results (32 Replies , 1 Comment )
- mahluus replied Oct 16, 2015
I don't use indicators at all, so no idea what ironman1 is talking about. PA is king. Xela raises some really good points. Anyway there are many different ways to be successful trading depending on your own psychology, some prefer the faster charts ...
- mahluus replied Oct 14, 2015
Ye I decided to walk away, closed down software for the day, will re-look tomorrow, just dont like what I see so no reason to play. Too many traders too scared to walk away in case they miss something, for me the risk is higher that I trade in this ...
- mahluus replied Oct 13, 2015
Yeah was strange PA on the AUD, formed a trap, then didnt, then formed a trap, then didnt. Main reason I skipped the trade was each break below support the bears managed to push 2-3 pips lower each time. AUD has now retraced all the way back to the ...
- mahluus replied Oct 13, 2015
Hmm bear trap forming on the AUD maybe??
- mahluus replied Oct 13, 2015
Alot of buying pressure at 1365 (CFD level), thats 3 SLs at the same level. I am not convinced its ready to break lower just yet.
- mahluus replied Oct 13, 2015
Its all good Sanvulture, part of the learning process, I didn't see it as whining at all.
- mahluus replied Oct 13, 2015
You shouldn't be trying to predict what PA is going to do, you should have setups that have good probability of working and then trade the probabilities. Trade what you see, not what you think the market is going to do.
- mahluus replied Oct 13, 2015
Pending short order at 1424 (about 1415 on your charts), but PA turned 2 pips shy of my entry and then retraced to where my TP would have been. This invalidates my original order so it has been withdrawn and I wait for the next setup. Even though I ...
- mahluus replied Oct 12, 2015
I'm out, TP hit +8
- mahluus replied Oct 12, 2015
You a brave man
- mahluus replied Oct 12, 2015
Short at 1405 (CME EUR/USD futures) - 8 pip TP, will exit SL on retrace from -8 if pA moves that way. Edit: My level of 1405 is ±1395 on a CFD chart - just to be clear
- mahluus replied Oct 9, 2015
I'm off, Monday another day, GL everyone, may pop in on the thread every now and then but basically done for the week.
- mahluus replied Oct 9, 2015
Pipologist you are too kind I am a South African (never been to Chicago - although I am soon to be an Australian ) My background is Index derivatives, I only crossed over to currencies after years of trading the S&P e-mini successfully and ...
- mahluus replied Oct 9, 2015
If fib interests you, the book Fibonnacci Trading by Carolyn Boroden I found to be very good. Basically she uses a system to draw multiple retracements and extensions from various SL / SH and where there are fib level overlaps (within 1-2 pips) she ...
- mahluus replied Oct 9, 2015
It is almost impossible to trade effectively if fear (or greed) is present in your emotional state, you need to be calm both before and during your trades. This mental state will only come with experience. If you have been burned and you are always ...
- mahluus replied Oct 9, 2015
Just don't play around with your risk management, stops are there for a reason, have an exit plan on the up and downside before you enter any trade and generally you should avoid breaking your account.
- mahluus replied Oct 9, 2015
I use mainly limit orders, what I don't do is 'break' trade, that's enter on a break through a level or enter a stop order to go long / short on any PA break through a level.
- mahluus replied Oct 9, 2015
Closed at -3. Probably more upside on the retrace but on a first pullback trade the PA should bounce at the EMA, any pierce through the line and coiling underneath is a possible recipe for disaster, I live to take another trade.
- mahluus replied Oct 9, 2015
Long at 1342 (1328 on your charts) - reason, first pullback after a strong impulsive move - entry placed at 21 EMA. TP 8 pips, SL break and retrace below ema.
- mahluus replied Oct 9, 2015
Missed my entry short by 1 pip (1323 on my charts but ±1309 on yours) - already retraced to where my TP would have been so order withdrawn.