DislikedI'm curious as to how you come up with 4400 as an area to buy?
Thanks.
ScottIgnored
Mr. Trend
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DislikedI'm curious as to how you come up with 4400 as an area to buy?
Thanks.
ScottIgnored
DislikedI'm curious as to how you come up with 4400 as an area to buy?
Thanks.
ScottIgnored
DislikedDavid -
I know it's hard to give up the shorter timeframes due to having to put a larger SL, cuz I went through the same thing for the longest time. I finally realized, however, that it just wasn't profitable trading short-term.
... ...
Just from my experience (and you can see my statistics for yourself), I really would encourage you to go long-term. But, do so within your means ... don't keep entering/adding positions if you can't afford it. Just build up your wealth slowly. As you start to be consistent with your wins, then you compound (adding more lots to your trades). That way, you don't blow out your account faster than you can build it.
You know what I mean?Ignored
DislikedThank you for your help too!
I used 4H time frame. I am sorry, the first result was my mistake--- I missed one 1-2-3 setup. I will upload the chart for you after it could be seen.
The result is as follows:
Pair: Eur/Jpy: Time period: Aug. 16th to Aug. 28th.
Long position No.1: Open @ 154.09 S/L 150.00 on Aug. 18
(close higher than 153.9 the highest 4H price on Aug. 17 )
Long position No.2: Open @ 155.57 S/L 153.22 on Aug. 20
(close higher than 155.27 the highest 4H price on 8am EST, Aug. 17)
Long position No.3: Open @ 156.01 S/L 153.22 on Aug. 23
(close higher than 155.93 the highest 4H price on Aug. 20 )
Long position No.4: Open @ 155.59 S/L 156.45 on Aug. 27
(close higher than 159.09 the highest 4H price on Aug. 23 )
Close all at 156.45 on Aug. 28. The total results: 236+88+44-267=101 pips
Enjoy your coffee and your wife's birthday celebration. Bring my greetings and hello to your wife.
CheersIgnored
DislikedBecause I am looking to buy at discount and 4400-4500 area is a "sale" in my opinion. But is not a "blind" opinion, let me explain.
The Euro has been priced already around 4700 area. We're getting a pullback to 4500 area. As I rely solely on the context of the market I am trading (as well as looking at the indices to see if there's some "weight ") I am looking to stacks odds in my favor.
While others are running to the hills shouting "overbought" or " I am so scared "...I have a welcome sign saying" come to pappa"
It's all a matter of perspective.
I don't over analyze charts. I look for conditions only (trends, corrections, selling pressure, fractals etc.) and then I make my decision.
I don't like choppy stuff. I cherry pick not only the trades but the markets. I trade whatever makes sense. I also increase/decrease bet size based on market conditions. That includes taking some profit off the table an allocating somewhere else. That's another story.
After I place a trade, other than trailing my stops whenever is a chance, I do nothing. I let the market do whatever. I don't have my eyes "glued" on the monitor(s). I know this is probably the hardest part for plenty of traders but you gotta do it, there's no shortcuts.
If I get stopped out
oh man I am off the subject I am in a "talking mode" today
Trader V what the hell you put on my coffee this morning? LOL
Peace
PeaceIgnored
QuoteDislikedA was entered at 156.07 SL 153.21
B Was entered at 157.45 SL 156.36 for both A and B
At the top of C2 I marked this as a caution area because of he weak close. Price has a tendancy to not make it past these areas so for me it's a heads up spot.
DislikedThank you so much for your detailed explanation and experience sharing. I really appreciate it.
Actually, I also invest in stocks. And I can hold my stock portfolio for years as long as the company I invested is still growing and not over-valued. For stocks, I use only fundamental analysis, TA only plays a very little part.
But for leveraged FOREX, while, high leverage really gives opportunities for fast money. So it turned me into a gambler or plunger (Well, I wish I could be a Boy Plunger).
I also have some methods or system to scalp or make profit on daily trade. But I have too many enemies against you like spikes, spreads(commission), news, stop loss setting up problems etc.
I can make profits by short-term trading if every time after I made it and closed my computer immediately. But the problem is that, I keep consistently losing due to over trades. I just can't stop and I will have a bad trading habit and worse--- when a true trend comes, you have no positions at all and instead you begin to try to make pips by trading against trend.Ignored
DislikedLOL, again, like I said, it has to make sense for me, so please can you explain a little more detail, why that particular number?Ignored
DislikedYes, over-trading is a real killer, I can relate. I guess this forex is a test for all of us in discipline, lol.
I'm currently testing a "revolving" lot - entering 2 lots on the initial position, keeping one lot in for the long-term (Daily), and one lot will TP every 50 pips on the 4hr and re-enter at the V-Formation until the long-term is ready to exit, lol.
That will help me bank some pips to help buffer the larger SL.
I'm always going with the trend though, NEVER against when taking these pipsIgnored
DislikedI do not want to boast, but I posted this on Friday night:
Well...I bagged some pips from thi move. Not all of them because I had a trailing stop at -50, and in one small pullback it hitted me. But I had`enough pips to make me laugh. No fibos, no emas crossing, no bs. Just PA, s/r and common sense. Hmmmmmm....being naked is soooooooo good!!!!!Ignored
DislikedWell...I bagged some pips from thi move. Not all of them because I had a trailing stop at -50, and in one small pullback it hitted me. But I had`enough pips to make me laugh. No fibos, no emas crossing, no bs. Just PA, s/r and common sense. Hmmmmmm....being naked is soooooooo good!!!!!Ignored
DislikedBy the way, regarding your short time frame stuff....
... But my point here is that evrybody has their own style and as long as it fits them.Ignored
Quoting alcastroDisliked..... By the way, steviet is also an advocate of nuduty. He had almost no indicators...just PAIgnored
Quoting alcastroDislikedBut he was short and i am long....ooooopss!!!!! sorry I forgot I was naked!!!!Ignored
DislikedSo, Mr. Trend, you use the EMA and the trend line to determine your entry for that pullback then, and solely on that for that particular number? (I guess it doesn't require an answer, because re-looking at your chart, it looks pretty obvious that it is, lol)Ignored