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priceaction1 journal

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  • Post #41
  • Quote
  • May 21, 2014 6:30am May 21, 2014 6:30am
  •  FFBinary
  • | Joined Feb 2013 | Status: Member | 35 Posts
ahh, so while I am tripping up over my feet, you are dancing up a storm well done (again).
  • Post #42
  • Quote
  • May 21, 2014 10:05am May 21, 2014 10:05am
  •  priceaction1
  • Joined Apr 2013 | Status: Now I know you | 5,761 Posts


Gross Profit:6 388.00Gross Loss:1 147.97Total Net Profit:5 240.03
Profit Factor:5.56Expected Payoff:873.34
Absolute Drawdown:906.97Maximal Drawdown:1 147.97 (11.21%)Relative Drawdown:11.21% (1 147.97)




https://charts.mql5.com/4/768/eurusd...el-markets.png
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don't predict direction, but dance with flow of water
  • Post #43
  • Quote
  • May 22, 2014 12:48pm May 22, 2014 12:48pm
  •  priceaction1
  • Joined Apr 2013 | Status: Now I know you | 5,761 Posts
Gross Profit:9 525.00Gross Loss:2 022.97Total Net Profit:7 502.03
Profit Factor:4.71Expected Payoff:682.00

https://charts.mql5.com/4/780/eurusd...el-markets.png
don't predict direction, but dance with flow of water
  • Post #44
  • Quote
  • May 22, 2014 12:51pm May 22, 2014 12:51pm
  •  priceaction1
  • Joined Apr 2013 | Status: Now I know you | 5,761 Posts
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don't predict direction, but dance with flow of water
  • Post #45
  • Quote
  • May 22, 2014 3:24pm May 22, 2014 3:24pm
  •  ruffryders
  • | Commercial Member | Joined Jan 2011 | 4,044 Posts
Quoting priceaction1
Disliked
{image}
Ignored
Nice trackrecord. Is that live trading?
  • Post #46
  • Quote
  • May 22, 2014 4:01pm May 22, 2014 4:01pm
  •  priceaction1
  • Joined Apr 2013 | Status: Now I know you | 5,761 Posts
yes
don't predict direction, but dance with flow of water
  • Post #47
  • Quote
  • May 22, 2014 5:27pm May 22, 2014 5:27pm
  •  blazej
  • | Joined May 2014 | Status: Member | 8 Posts
Hello priceaction1,

Your's thread is an inspiration for me. The Technical Analysis Fallacy helped my to change my point of view. I,ve been trading only price action, with mixed results for about the year, on demo much better than in real money. Now after reading Fti thread I've found the missing part, defence sequence. Now I'm going back to practice. You are the evidence that I can change my life and be independent. Thank. Hope You are well. Thanks for a chance.

Błażej
  • Post #48
  • Quote
  • May 22, 2014 9:44pm May 22, 2014 9:44pm
  •  priceaction1
  • Joined Apr 2013 | Status: Now I know you | 5,761 Posts
Quoting blazej
Disliked
Hello priceaction1, Your's thread is an inspiration for me. The Technical Analysis Fallacy helped my to change my point of view. I,ve been trading only price action, with mixed results for about the year, on demo much better than in real money. Now after reading Fti thread I've found the missing part, defence sequence. Now I'm going back to practice. You are the evidence that I can change my life and be independent. Thank. Hope You are well. Thanks for a chance. Błażej
Ignored
best wishes,
don't predict direction, but dance with flow of water
  • Post #49
  • Quote
  • May 22, 2014 9:52pm May 22, 2014 9:52pm
  •  ShepherdL
  • | Joined Feb 2013 | Status: Step by step | 311 Posts
Really impressive
  • Post #50
  • Quote
  • May 24, 2014 11:55am May 24, 2014 11:55am
  •  priceaction1
  • Joined Apr 2013 | Status: Now I know you | 5,761 Posts
About trends, don't think, ask her.
if she doesn't tell you, wait
Be patient, it will show, it's not that she won't tell you.
She hints and hints , but if you don't get it
when she gets angry, she'll tell you straight, if you can catch it fine.
sometimes she don't wanna dance, she may just want a fling ,so wait.
otherwise, there are many fishes in the sea

by fti.
don't predict direction, but dance with flow of water
1
  • Post #51
  • Quote
  • May 24, 2014 11:57am May 24, 2014 11:57am
  •  priceaction1
  • Joined Apr 2013 | Status: Now I know you | 5,761 Posts
At tier 1 I see flow, I check whats my blotter direction,
what did big orders do, how often they are hitting me.
where are the ducks, how large are they piling.
But as trader you cannot see flow, so watch the pips move, it should tell you.

by fti.
don't predict direction, but dance with flow of water
  • Post #52
  • Quote
  • May 24, 2014 12:05pm May 24, 2014 12:05pm
  •  priceaction1
  • Joined Apr 2013 | Status: Now I know you | 5,761 Posts
Regarding trends,
trends mean different things to different people.

the accepted definition of a trend is a persistent direction of move,
on an up trend the highs get higher and low stays higher,
conversely a down trend, when the low gets lower and the high stays lower.

no trends move in a straight line advance or decline.
within any major trend, there are minor trends, then there are intraday trend, hourly trends and so forth.
its your choice to decide which is within your scope to cope with.
by fti.
don't predict direction, but dance with flow of water
  • Post #53
  • Quote
  • May 24, 2014 12:07pm May 24, 2014 12:07pm
  •  ruffryders
  • | Commercial Member | Joined Jan 2011 | 4,044 Posts
Quoting priceaction1
Disliked
yes
Ignored
good results, keep it up!
  • Post #54
  • Quote
  • May 24, 2014 12:18pm May 24, 2014 12:18pm
  •  priceaction1
  • Joined Apr 2013 | Status: Now I know you | 5,761 Posts
Not all Fundamentals are reflected in the prices, some fundamentals affect the markets in the short tenure some in the longer.
Ultimately all important fundamentals will work their way into the charts.
there are fundamentals that are market moving and
there are those that could have already worked itself into the price, and are therefore discounted
by fti.
don't predict direction, but dance with flow of water
  • Post #55
  • Quote
  • May 24, 2014 12:27pm May 24, 2014 12:27pm
  •  priceaction1
  • Joined Apr 2013 | Status: Now I know you | 5,761 Posts
I used to read fti thread/teaching documents, on every week end. just keep to my self on track. every time I learn some thing new.
don't predict direction, but dance with flow of water
  • Post #56
  • Quote
  • May 24, 2014 12:31pm May 24, 2014 12:31pm
  •  ruffryders
  • | Commercial Member | Joined Jan 2011 | 4,044 Posts
Quoting priceaction1
Disliked
I used to read fti thread/teaching documents, on every week end. just keep to my self on track. every time I learn some thing new.
Ignored
well done bro, obviously time well spent.
  • Post #57
  • Quote
  • May 24, 2014 12:48pm May 24, 2014 12:48pm
  •  priceaction1
  • Joined Apr 2013 | Status: Now I know you | 5,761 Posts
Charting may be a definitive method to sieve thru the actual market moving fundamentals.
Nevertheless it has its short comings that, it is still a lagger.
Understand that the charts are historical footprints of the market,
therefore they can hardly be predictive, without imposing on it assumptions.
AND i am one who is strongly against, imposing assumptions on my charts,
for me thats THE FALLACY, i mentioned in the title of this thread

by fti.
don't predict direction, but dance with flow of water
  • Post #58
  • Quote
  • May 24, 2014 12:54pm May 24, 2014 12:54pm
  •  priceaction1
  • Joined Apr 2013 | Status: Now I know you | 5,761 Posts
You can't learn trading by reading a book.
and You won't learn how to dance unless you get on the floor and boogie.
So start dancing and lead each other, find your own niche and have a ball.


I give you the sketch and you fill in the colours, make it your own painting.
Then sketch for others to learn how to paint.


by fti.
don't predict direction, but dance with flow of water
  • Post #59
  • Quote
  • May 24, 2014 1:00pm May 24, 2014 1:00pm
  •  priceaction1
  • Joined Apr 2013 | Status: Now I know you | 5,761 Posts
Story #1

A Lesson about Human Nature.
Here is a Lesson my Dad thought me while I was young.
He's the big one in the avatar, I am the little one with the cowboy hat.
He was my mentor and he taught me alot about life while growing up.
He's no longer with us, gone home for some time already.
Do guard that this should happen to you, in your trading and your life.

A Lesson about Human Nature.
The Turtle and the Scorpion.

Once upon a time, LONG LONG ago in China
There was this scorpion, who wanted to cross a river.
Since he could not swim, he waited along the river banks for someone who could.
Along came a turtle, and the scorpion promptly asked if the turtle would give him a ride across.

The turtle quickly replied, NO, NO, NO.
Why? The scorpion asked.
The trutle replied, because you will sting me while I am carrying you across.
The scorpion replied, If I did that, then we would both drown
and What would I benefit from that? he asked.

Accepting the scorpions reasoning, the turtle agreed to give the scorpion a ride across.
While half way across the river, as the waters became choppy.
and the ride became rough, the scorpion stung the turtle.
And as the turtle was drowning, he asked the scorpion why he did it.
Now they will both drown.

The scorpion replied,
I am so very sorry, I couldn't help myself from doing it.
You see, ITS MY NATURE,

by fti.
every trade have to fight with the scorpion in side. it always stung when water is choppy.
don't predict direction, but dance with flow of water
1
  • Post #60
  • Quote
  • May 25, 2014 8:05am May 25, 2014 8:05am
  •  priceaction1
  • Joined Apr 2013 | Status: Now I know you | 5,761 Posts
Interbank Spot Market
The spot market is the one in existence at the moment the spot market maker's quote is supplied. Settlement for the trade done is made within the following two business days. The quote (using the above example of USD/DEM = 1.7500 - 1.7507), as in the case of any bid-offer spread, consists of the prices at which the quoting market maker (the interbank currency dealer) will buy and sell one currency in exchange for the other. The first number in the quote, the bid side (or market maker's purchase price), is the quantity of DEM that the market maker will exchange (sell) for each USD he buys. In other words, the bid price represents the price at which the market maker will 'buy' USD, expressed in DEM and the price at which other market participants can sell USD. Conversely, the second number in the price quotation, the offer (or asking side or market maker's selling price), is the quantity of DEM that the market maker will exchange (buy) for each USD he sells. In other words, the offer price represents the price at which the market maker will sell USD, expressed in DEM, and the price at which other market participants can buy USD.
A market maker's price quote, be it over the phone or on a computer screen will remain unchanged for as long as the dealer feels comfortable with it. Sometimes in a quick market environment this period may only be a few seconds before being changed to a new price quote. The bid-offer quotes stated by market makers are constantly reviewed and updated as those market makers continually reassess their own currency positions and determine whether they wish to be 'better' buyers or sellers of a particular currency that they have the responsibility of quoting. A market maker is considered a "better" buyer of a currency when his bid for that currency is higher than the general market bid rate, and a "better" seller of a currency when his offer is lower than the general market offer rate. The resulting quote reflects the market maker's own attitude toward the market price's current and expected future performance.
The point difference between a bid and an offer is called the price spread and is a measure of the quote's quality. It is also an indication of the depth of the market liquidity for a currency. The narrower the spread, the better the quality and the greater the depth of the market for that currency. A wider spread indicates either greater uncertainty over market conditions or a lack of price liquidity. Wider spreads occur with unexpected news releases or prevail toward the end of market trading hours in a particular geographic area. The spread is analogous to the risk premium for quoting during both normal and volatile market conditions.
Interbank Forward Market
The forward market within the interbank market enables participants to establish at the time of the currency deal, a rate for the exchange of the currencies at some future business value date past the spot date (three business days and beyond). A forward rate is calculated by either adding or subtracting the forward "swap rate" to or from the spot rate for the two currencies being exchanged. Forward swap rates are based on the difference between the Euromarket interest rates for a particular future maturity date of the two currencies involved in the forward transaction. Forward swap rates are typically expressed in points, with one point usually equal to the price unit the currency is traded in (USD/DEM's trade unit is the fourth decimal point - 0.0001). For example, a forward swap rate of 0.0075 would be referred to as 75 points and may represent the interest rate differential between the USD and the DEM for a one-month maturity.
The forward swap points are either added to or subtracted from the spot rate when determining the forward price for the future date desired. To determine whether the forward swap rate is added or subtracted, it is first necessary to decide if one currency is trading at a premium or discount relative to the other in the forward market. This is arrived at by comparing the Euromarket interest rates of the two currencies being exchanged. If the one month Eurorate of one currency (e.g. DEM's Euromark rate) is lower than the Eurorate of the other (e.g. USD's Eurodollar rate) then the USD will be regarded as trading at a discount to the DEM given the European terms quotation method, and the resulting swap points will be subtracted from the USD/DEM spot rate to obtain the forward one month USD/DEM rate. If the one month Euromark rate is higher than the one month Eurodollar rate then the dollar will be trading at a premium and the subsequent swap points will be added to the USD/DEM spot rate to obtain the forward market one month USD/DEM currency dealing rate.
don't predict direction, but dance with flow of water
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