Just got spanked out of my nzdusd trade...bugger.
what's 1/2 % amongst friends....LOL.
what's 1/2 % amongst friends....LOL.
Silent room 2 replies
Silent Success of Patience 10 replies
My silent journal 4 replies
bo7a method... method for GBP/JPY 205 replies
Seeing Through the Silent Crash 4 replies
DislikedHi.
What do you gals and guys think about this one. On the weekly chart its a pinbar which is about to be broken and I put a sell stop on my demo account below the pinbar. The pinbar is at 1.01 which worked as resistance in the past and confluenced by 38.5, 50 and 62.8 retracements. On the daily the pinbar is followed by a bearish outside bar. The pinbar seems to be also at a good location visually.
The reason why I just took it on demo is the close 0.98 which is not a really obvious PPZ but price recognized it in the past. Any comments ?
Stefan....Ignored
DislikedI just shorted UsdCad with a stop loss just above the 4H (almost) tweezers top.
I think it'll reach 1.04 before 1.09.
My gbpjpy short stopped out at break even too but I think it may double top at 162 and then drop, going to sit it out anyway and buy after the retrace.Ignored
DislikedI would suggest paper trading stocks in the meantime, even if you are a long time from actually funding an account.
Think of it this way: If the average trader places 100 forex trades a year (random number), and you are placing 100 fx, 100 stock, and 100 futures - by the end of that year, the "normal" trader gets 1 year's worth of experience, while you get 3.
You can accelerate the process this way in my experience.
ChrisIgnored
DislikedHi Chris,
That's a good idea. I'd also note that practicing on shorter TFs, such as the 3H or 1H charts even though not as "solid" as Daily/Weekly/Monthly etc can provide a more concentrated/volatile environment to learn about what to look for in terms of PA and whatnot. The market is definitely holographic in that regard, though in reality, the higher TFs and their respective PA hold more weight.
Of course one drawback with that approach is the conditioning element, where if I'm practicing on those shorter TFs, my mind's being conditioned...Ignored
DislikedGet your chisel out of my hands!
My sculpture is coming on nicely though...Ignored
DislikedIn case it is helpful to anyone, attached is a 2-page cheat sheet for the Silent Service method.
If anyone is able to improve or simplify it, please post it so that I can update my copy.Ignored
DislikedIn case it is helpful to anyone, attached is a 2-page cheat sheet for the Silent Service method.
If anyone is able to improve or simplify it, please post it so that I can update my copy.Ignored
DislikedNot bad for your first post.
I will be printing it out and doing a proper checklist.
Nice work.Ignored
DislikedOf course, how could I miss being under the influence; it's getting clearer...Ignored
Disliked"Do you think it's easier to trade countertrend if you have a good feeling for the pair you're trading? (question for anyone)"
My answer: yes, and if you're willing to accept the risk.Ignored