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Price is Everything Chat Room

  • #781
  • Nov 25, 2011 5:46am Nov 25, 2011 5:46am
oh man, boring gu...every pair is near its lows but gu is not willing to do anything....
  • #782
  • Nov 25, 2011 6:12am Nov 25, 2011 6:12am
Answering a pm I got, I drew an eu weekly chart, and may as well post it here
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  • #783
  • Nov 25, 2011 9:10am Nov 25, 2011 9:10am
does anybody understand why every fckin usdxxx pair is moving south but usdchf is still bullish like hell??
  • #784
  • Nov 25, 2011 9:57am Nov 25, 2011 9:57am
SNB selling CHF.

Quoting FXfreak
does anybody understand why every fckin usdxxx pair is moving south but usdchf is still bullish like hell??
Hello.
  • #785
  • Nov 25, 2011 10:06am Nov 25, 2011 10:06am
Quoting FXfreak
does anybody understand why every fckin usdxxx pair is moving south but usdchf is still bullish like hell??
The dollar is weakening accross the board due to the dollar index coming in to a major supply zone. However CHF is weakening because the SNB (Swiss National Bank - their central bank) are rumoured to be in the market selling off francs for euros (weakening the CHF by adding to the supply side). Central banks can have a massive impact on the market, always worth keeping your eye on the news for these rumours as they can keep you out of a bad trade. Check out USDJPY daily chart for an example of central bank influence on the market.

However I would caution against trading solely on the basis of rumours as they are sometimes used to set traps for retailers - not all of these rumours turn out to be true.

http://www.forexfactory.com/news.php?do=news&id=327957

Edit: Beat me to it emene - yours is more succinct too.
  • #786
  • Edited 12:36pm Nov 25, 2011 12:23pm | Edited 12:36pm
Quoting Atom
Hi every body, and thank you for the great thread indeed.

Hey venice, I am trying hard to be successful trading the 15-30 min tfs depending on S/D zones on H1 and H4, and am impressed by the accuracy % you have. Can you provide some insights into how to achieve such a success? For me, I am still strugling with patience and greed (2 yrs). For example, this week I had 105 pips gain, just to give it back today to the market with premium (another 100 pips).

Thanks in advance
Blood sweat and tears, bro. 4 years in it now for me. Just this year are things starting to come together.

I always trade with the current intermediate trend (are we making higher highs or lower lows??). And I am extremly patient. I never try to force a trade. I only take trades that are exactly what I want out of the play. It's why I have the slogan I have under my name. I refuse to play by the rules of hte market. If it wants a piece of me, it's going to be on my terms.

Keep plugging away. Keep observing how PA acts around levels. The behaviors it exhibits. Things will fall together. But nothing, I repeat nothing, can replace seat time and learning how price behaves. No books, no articles, no indicators. I understand how you feel too. Two years, and it seems like things should be falling together... but they are not. You are just now starting to breach the beginning of all that there is. All I can say is, keep at it. You will be discouraged even more as time goes along... until one moment you will go "Ahha! I'm an idiot". Because trading is an extremely simple, repeatable thing to do... but we blind ourselves from what we really need to see.

Focus on risk to reward opportunities (remember, this is a game of calculated risk). Then start looking for your edge in the market (I simply sell supply zones in a down trend, and buy demand zones in an uptrend). I don't want or need to make it more difficult then that. Nor do you
  • #787
  • Edited Nov 26, 2011 10:57am Nov 25, 2011 12:35pm | Edited Nov 26, 2011 10:57am
Quoting Du Jin Shan
Bonjour Flytox
For me, M5 is the same dangerous with M1,
But the other PIE trader can trade the M5 M1 timeframe happily.
so I assume experience will prove this.
maybe must practise a lot to have such experience.



I monitoring just One pair ,
i just need one screen and one platform.
This make me better, I'm more focus when monitoring one pair and free from stress, and no overtrading.




Best Regards,
DJ shan
Hi, it seems to me that ,as individuals, we all start out from different angles that gradually converge as we improve our skills or edge. Some start on high TF and learn lower TF. Others , like myself, learn on a low TF and gradually bulid up confidence and their wallet to trade the higher TF. That bit is easy...whether one is learning the higher TF or the lower imo.
What makes life difficult in terms of progress towards consistent profit is the age old conundrum of Time = Money...

1) One's trading ability is only ever as good as one's technology...upgrading is a given neccessity imo.Upgrading screens/monitors...and PC and isp provider. If i hadnt taken this on board and done it my learning curve would be where it was six months ago.

2)To wager all of your emotional and financial wellbeing into trading is foolish, i agree. However this dilemma is,perhaps, why we all feel the neccessity, at some stage, to apply our initial skills into other instruments: commodities and indices ( meanwhile building up our bank of screens in order to learn how to trade them through observation)....in order to increase profitability through positive and inverse correlation,.and thus spread our risk and save on screen time.
I'm somewhere between 1 and 2.... i've got a shite techie

3) Retain a good techie

4) The wish to expand ones experience through trading more than one currency/ commodity/indices simultaneously is inherent in the desire for consistent profit (within recognised parameters) imo.

Good luck and good trading to you all.
All systems of divination, like music itself,work through patterns.
  • #788
  • Nov 25, 2011 12:41pm Nov 25, 2011 12:41pm
Quoting boubafx
Sorry Venice but i don't understand that. Could you explain please bcs it is obscur for me.

If you could post a chart example to show me what you want to say and how you practise, i would appreciate.

thanks
Hi Bouba,

I am away on holidays right now, but please feel free to look at my attachments as I have shown some setups in there.

What I mean by protective pa to protect my stop, is that i generally will wait for pa to develop (a cluster) before throwing my stop in. A new supply/demand zone if you will. That way the supply or demand level now protects my stop. If this level is breached, chances are pretty good that a reversal will happen anyways.

But as always, every trade has it's own personality. If it's a scalp, I may put my stop to break even after being up 10 pips. There are times where it will shake me out as well though. I like price to move quickly once i enter, so if it is still messing around it would not be out of character for me to close the order and wait for an actual move.
  • #789
  • Nov 25, 2011 2:05pm Nov 25, 2011 2:05pm
  •  Atom
  • | Joined Jul 2010 | Status: An atom..no more..probably less! | 44 Posts
Quoting Venice
Blood sweat and tears, bro. 4 years in it now for me. Just this year are things starting to come together.

I always trade with the current intermediate trend (are we making higher highs or lower lows??). And I am extremly patient. I never try to force a trade. I only take trades that are exactly what I want out of the play. It's why I have the slogan I have under my name. I refuse to play by the rules of hte market. If it wants a piece of me, it's going to be on my terms.

Keep plugging away. Keep observing how PA acts around levels. The behaviors...
Inspiring and enouraging post, Venice.
I will keep at it..no matter what it takes...it is good to know that I am in the right direction
Thank you very much

Atom
  • #790
  • Nov 25, 2011 7:12pm Nov 25, 2011 7:12pm
Quoting Venice
Blood sweat and tears, bro. 4 years in it now for me. Just this year are things starting to come together.

I always trade with the current intermediate trend (are we making higher highs or lower lows??). And I am extremly patient. I never try to force a trade. I only take trades that are exactly what I want out of the play. It's why I have the slogan I have under my name. I refuse to play by the rules of hte market. If it wants a piece of me, it's going to be on my terms.

Keep plugging away. Keep observing how PA acts around levels. The behaviors...
Inspirational! great venice
Have I got something on my face, SOLDIER?
  • #791
  • Nov 26, 2011 1:15am Nov 26, 2011 1:15am
Quoting kaspopsicle
Hi, it seems to me that ,as individuals, we all start out from different angles that gradually converge as we improve our skills or edge. Some start on high TF and learn lower TF. Others , like myself, learn on a low TF and gradually bulid up confidence and their wallet to trade the higher TF. That bit is easy...whether one is learning the higher TF or the lower imo.
What makes life difficult in terms of progress towards consistent profit is the age old conundrum of Time = Money...

1) One's trading ability is only ever as good as one's technology...upgrading...
Thanks for your explanation kaspopsicle,
- 888 Horse Power - Fast Momentum Speed Run Towards VICTORY
  • #792
  • Edited 2:56am Nov 26, 2011 2:08am | Edited 2:56am
  •  fivex
  • | Joined Sep 2011 | Status: This is the title that appears | 247 Posts
Quoting Venice
Blood sweat and tears, bro. 4 years in it now for me. Just this year are things starting to come together.

I always trade with the current intermediate trend (are we making higher highs or lower lows??). And I am extremly patient. I never try to force a trade. I only take trades that are exactly what I want out of the play. It's why I have the slogan I have under my name. I refuse to play by the rules of hte market. If it wants a piece of me, it's going to be on my terms.

Keep plugging away. Keep observing how PA acts around levels. The behaviors...
Well put, and thanks.
  • #793
  • Nov 26, 2011 2:35am Nov 26, 2011 2:35am
Quoting Venice
Blood sweat and tears, bro. 4 years in it now for me. Just this year are things starting to come together.

I always trade with the current intermediate trend (are we making higher highs or lower lows??). And I am extremly patient. I never try to force a trade. I only take trades that are exactly what I want out of the play. It's why I have the slogan I have under my name. I refuse to play by the rules of hte market. If it wants a piece of me, it's going to be on my terms.

Keep plugging away. Keep observing how PA acts around levels. The behaviors...
Hi Venice,

As we all know an uptrend is made by a higher high and higher low, but in this uptrend there is a minor downtrend which we call a bull flag, sometimes this minor downtrend can be a nightmare, ops I mean an uptrend reversal then trend change to downtrend.

The question is

  1. In a major uptrend how do we know that a down move is just a bull flag ? so we can keep in long position.
  2. how do we know that an uptrend is over ? so we dont long anymore.
  3. sideways (consolidation) is very deadly, price will hit the stop loss before reach the target, how do we know price is in a sideways mode ?


I hope senior trader and fellow trader can give an insight

I realize that this is an one million dollar question and sounds like a dumb ass question, I beg, please dont mean it, if you dont wanna answer it

- 888 Horse Power - Fast Momentum Speed Run Towards VICTORY
  • #794
  • Nov 26, 2011 3:45am Nov 26, 2011 3:45am
Quoting Du Jin Shan
Hi Venice,

As we all know an uptrend is made by a higher high and higher low, but in this uptrend there is a minor downtrend which we call a bull flag, sometimes this minor downtrend can be a nightmare, ops I mean an uptrend reversal then trend change to downtrend.

The question is [list=1][*]In a major uptrend how do we know that a down move is just a bull flag ? so we can keep in long position.[*]how do we know that an uptrend is over ? so we dont long anymore.[*]sideways (consolidation) is very deadly, price will hit the stop loss...
I'm afraid you're looking for hard and fast rules here, but there are so many different signs to look for that the rule book can't be written in one post.

The key to learning trading is to go back through history and study every single turn in the market there ever was, asking yourself the questions:

Why did price turn at this particular point? (origin of former move, fib, TL, price of historical significance)
What pattern formed to confirm the change of direction (was it a QM, HnS, broadening triangle, cp into the zone, etc, in this or higher TF)?
In the lower TFs what pattern do you see?
How many times have I seen this before?
What was the optimal entry for a trade there?
How far did price then go?

You have asked three questions in your post, but you'd be so much better off just opening the charts and answering them yourself.

Once you've spent a while doing this, you'll be truly amazed at the understanding of price you've gained


Best

If
  • #795
  • Nov 26, 2011 4:54am Nov 26, 2011 4:54am
In short DJ shan, one needs to understand and KNOW price. open high low close says all buddy, ifmyante has explained it all.

ill say it again.

gauge momentum. learn the speed. think of a ducati speeding through in a straight line, do u think it would just speed and not stop? or even slow down in a turn in the circuit? or reverse?

its not a bout the closed bars in my perspective, It matters when it was open. watch how it fluctuates. understand and imagine WHY it fluctuates. is it going too fast one direction? is it at an important zone/level?

is one side retreating? is it a fake?

i believe if explained it best in detail.

to me it always and always has been momentum.

my cycle in momentum: Acceleration, Deceleration - from here it can go two ways

deceleration ----> Acceleration
deceleration ----> Stalling ---->acceleration.

its really that simple the way I look at it. Talk to price, coz price is TALKING WITH YOU and all you need to do is open ur EARS, and MIND and UNDErsTAnd it
Have I got something on my face, SOLDIER?
  • #796
  • Nov 26, 2011 6:51am Nov 26, 2011 6:51am
Quoting Venice
Hi Bouba,

I am away on holidays right now, but please feel free to look at my attachments as I have shown some setups in there.

What I mean by protective pa to protect my stop, is that i generally will wait for pa to develop (a cluster) before throwing my stop in. A new supply/demand zone if you will. That way the supply or demand level now protects my stop. If this level is breached, chances are pretty good that a reversal will happen anyways.

But as always, every trade has it's own personality. If it's a scalp, I may put my stop to break...
Thanks to take time to answer me during your holiday. Take good and quiet time during these holidays.
I hear and I forget. I see and I remember. I do and I understand.
  • #797
  • Edited 11:40am Nov 26, 2011 11:18am | Edited 11:40am
Quoting Ifmyante
I'm afraid you're looking for hard and fast rules here, but there are so many different signs to look for that the rule book can't be written in one post.
I'm sorry IF, Just wanna know fellow trader opinions about this.

Quoting Ifmyante
The key to learning trading is to go back through history and study every single turn in the market there ever was, asking yourself the questions:

Why did price turn at this particular point? (origin of former move, fib, TL, price of historical significance)
What pattern formed to confirm the change of direction (was it a QM, HnS, broadening triangle, cp into the zone, etc, in this or higher TF)?
In the lower TFs what pattern do you see?
How many times have I seen this before?
What was the optimal entry for a trade there?
How far did price...

And thanks for your reply ,

I have know the price level, can seen at s/d level, yes price react at this level , really sometimes I have no idea, what will price do at the s/d level, wether keep the previous move, or wanna retrace, or wanna reverse.

But It's okay all i needs is a lot of screen time, to gain the experience.
and let the intuition lead me.

Best regards,
DJ shan
- 888 Horse Power - Fast Momentum Speed Run Towards VICTORY
  • #798
  • Nov 26, 2011 11:44am Nov 26, 2011 11:44am
Quoting bumapatria
In short DJ shan, one needs to understand and KNOW price. open high low close says all buddy, ifmyante has explained it all.

ill say it again.
Thanks for your reply Buma


Quoting bumapatria
its really that simple the way I look at it. Talk to price, coz price is TALKING WITH YOU and all you need to do is open ur EARS, and MIND and UNDErsTAnd it
wow . you really romancing with the price, dude.
- 888 Horse Power - Fast Momentum Speed Run Towards VICTORY
  • #799
  • Nov 26, 2011 5:42pm Nov 26, 2011 5:42pm
good trading week all
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  • #800
  • Nov 26, 2011 6:54pm Nov 26, 2011 6:54pm
Quoting riko2705
good trading week all
Hi and nice charts, not familiar with ww.
too bad the trade went against you,
as long as you know the reasons why it did,
that's how we learn.

I think this should be correct.

Good luck with yer trades.

S.
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