100% of traders are losers. Just that some win more than they lose!
Joining the CME gang 56 replies
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Dislikedand this is other point here,,, almost all of us trading fibos and trends,,,, and we S\L many times and T\P other many times...
thanks for sharing thoughts..Ignored
DislikedNo, most all the time if you look at two trader's charts, and how they draw their trend lines, they appear different.. Not only that, but we have different criteria for entering a trade, and how much we trade at a time.. and where we exit, these are all very different on a per trader basisIgnored
DislikedNo, most all the time if you look at two trader's charts, and how they draw their trend lines, they appear different.. Not only that, but we have different criteria for entering a trade, and how much we trade at a time.. and where we exit, these are all very different on a per trader basisIgnored
DislikedI'm with you,, but the reason why almost of 70 to 80% of the newbies burn their cash is because all of us learned forex the same way somehow..
the basics are the same... but do you think the FED or ECB or BOE or any MARKET MAKER trade techs,,, certainly NO,,,, they move according to fundas and according the experience and the VERY HIGH LIQUIDITY they own..Ignored
DislikedI digg this, i really do. Nice comment.
but we cannot ignore totally the Technical side of the marketIgnored
DislikedDo you mean "They Don't Ignore Them"
does the ECB check for fibos daily???Ignored
DislikedMy point exactly, if everyone usually is on a different page.
what if we traded the same way?Ignored
Dislikedyes market makers may ignore technicals, but true technicals are supposed to reflect psychology of the market.. Market makers have key psychological levels in check and so does banks and feds, and if you draw technicals (whatever they maybe, fibs, moving averages, right time frame), it should line up pretty closely with market psychology. If you draw fibs and support and resistance on 5 min or 30 min charts, its just market noise so I don't think that you can truly capture market psychology in that time frame.
I think when you ignore market psychology and start trading small time frames, which is essentially market noise, thats a whole another ball game and thats an art in itself to be successful in applying technical indicators to that market noise and gauging where prices will lead to in the short term..Ignored
Dislikedyes market makers may ignore technicals, but true technicals are supposed to reflect psychology of the market.. Market makers have key psychological levels in check and so does banks and feds, and if you draw technicals (whatever they maybe, fibs, moving averages, right time frame), it should line up pretty closely with market psychology. If you draw fibs and support and resistance on 5 min or 30 min charts, its just market noise so I don't think that you can truly capture market psychology in that time frame.
I think when you ignore market psychology and start trading small time frames, which is essentially market noise, thats a whole another ball game and thats an art in itself to be successful in applying technical indicators to that market noise and gauging where prices will lead to in the short term..Ignored
Dislikedif the ECB, the FED or any other central bank want to make a move, then they want it to be effective.
do u think it would be wise to just dump money in the market for a movement? or is it wiser to wait for the best technical opportunity to do so when u know the herd of technical traders will follow.
think about it
if the ECB wants to sell euros then they might do so by selling near a support line, a break of that line will run several Stops forcing an even bigger movement.Ignored
DislikedWell, you've a very good view here..
but as you said "on the short term" only, but we may have two or three short terms daily,,, but we have one long term ever, then another long term for other ever...
All I say here is all the <100k accounts are not valuable compared to the daily liquidity...Ignored
Dislikedabulsaid, I am a little confused, if you mean that there could be two to three different trend direction moves within a period of day or even two days, I would say that if that continues, we may be in a sideways market in which case its possible that the market is waiting for key news to come out to make a move one way or the other.
Yes I understand long term is a matter of time frame that you are looking at, but most banks look at weekly to monthly charts to do their own trading and to gauge the intermediate direction of a currency. For them thats intermediate, for many day traders, thats an eternity.. Its all a matter of perspective, but i think most traders who are good intraday(trades lasting a day to a few days) traders try to keep their trades in line with that.
You have made a good point between market makers and movers, but even the market movers keep a track of where their currency is as that can affect a country's trade and various sectors of the economy, and what I was trying to say is that even though they may not raise interest rates or flood the market with new money at the stochastics going into oversold, they do look at key levels to see if the currencies are under it or they have breached to gauge the sentiment of the market. And if we draw technicals the right way (which is an art), it should almost mirror the psychology of the market sentiment, even though we may interpret it differently, our historical top of a currency might be the fed's point to flood money to take the currency to higher levels.. I hope it makes sense.. I guess the point I'm trying to make is the technicals are to reflect market psychology, not necessarily predicting it, and the psychology of the market doesn't follow technicals, technicals should merely mirror it..
salamsIgnored