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  • #201
  • Apr 6, 2018 12:10pm Apr 6, 2018 12:10pm
Quoting Samson85
{quote} It's not about opinions it's about facts and how banks make money as well as successul traders. Technical is good but you need fundamentals to guide you otherwise you are trading blind.
Banks make more money on market making and using their huge book to move prices to their advantage. Price rigging fixing etc. Small % is actually prop and directional.
  • #202
  • Apr 6, 2018 6:13pm Apr 6, 2018 6:13pm
Quoting foobar
{quote} Banks make more money on market making and using their huge book to move prices to their advantage. Price rigging fixing etc. Small % is actually prop and directional.

I can agree on that. Goldman Sachs are clearly the best at this.
  • #203
  • Apr 6, 2018 8:28pm Apr 6, 2018 8:28pm
Quoting Samson85
{quote} Pivot points are good for buying selling and setting targets. The best thing you could do is apply 'extended pivot points to your platform. If you look at the picture I posted you'l see it's gbp/USD with extended pivot points. Notice how alot of the times hits the pivot levels which which are made up of resistance 1 2 3 and support 1 2 3 and the daily pivot (yellow line which is very powerful). You can buy and sell from these zones and use the pivot points as targets to hit. For example if you had taken a long on cable let's say a few hours...
I see what you mean about how price plays around the pivot points. I've been doing some eyeball backtesting and noticed that, as you had mentioned, price goes through the pivots without hesitation. But there are also times when the currency reverses even before touching the pivots. That's tricky because even if i place my target at pivot, and it reverses before it reaches there, it eats into my profits again. I don't get to stick to the screens 24/7. Do you also encounter this or are you on your screen full time?
  • #204
  • Apr 6, 2018 10:08pm Apr 6, 2018 10:08pm
Quoting nathaniel
{quote} I see what you mean about how price plays around the pivot points. I've been doing some eyeball backtesting and noticed that, as you had mentioned, price goes through the pivots without hesitation. But there are also times when the currency reverses even before touching the pivots. That's tricky because even if i place my target at pivot, and it reverses before it reaches there, it eats into my profits again. I don't get to stick to the screens 24/7. Do you also encounter this or are you on your screen full time?
Set it 20% away from the pivot point for a target as it does not always hit. I

Here is a link to a website that has loads of free videos. Watch the fibanachi and pivots ones. This will certainly make your trading much easier.

http://compassfx.com/compass/videos/

The vids are short but very vital. I do not enter trades without a fibanachi and If I do it's either because it' breaking news or I have broken my own rules which is silly and can lead to losses.

I suggest you sign up to jarrattdavis.com. If you don't like it they will refund you within 14 days.
  • #205
  • Apr 7, 2018 12:52am Apr 7, 2018 12:52am
Quoting nathaniel
{quote} That's tricky because even if i place my target at pivot, and it reverses before it reaches there, it eats into my profits again.
That's the tricky point with levels ... Usually the deal is to give some room either side to avoid the target to be missed in case of reverse too early and to avoid a stop to be taken too early.

Set the targets few pips before the level ... and stops few pips after. Of course that's not always perfect but that generally helps a bit emotionaly!
MT4/MT5 EAs/Indicators/Alerts coder
  • #206
  • Apr 7, 2018 1:04am Apr 7, 2018 1:04am
Quoting FerruFx
{quote} That's the tricky point with levels ... Usually the deal is to give some room either side to avoid the target to be missed in case of reverse too early and to avoid a stop to be taken too early. Set the targets few pips before the level ... and stops few pips after. Of course that's not always perfect but that generally helps a bit emotionaly!

Your 100% right when placing normal trades. You also need to look at resstance levels from previous days
  • #207
  • Apr 7, 2018 7:16am Apr 7, 2018 7:16am
Quoting Samson85
{quote} Set it 20% away from the pivot point for a target as it does not always hit. I Here is a link to a website that has loads of free videos. Watch the fibanachi and pivots ones. This will certainly make your trading much easier. http://compassfx.com/compass/videos/ The vids are short but very vital. I do not enter trades without a fibanachi and If I do it's either because it' breaking news or I have broken my own rules which is silly and can lead to losses. I suggest you sign up to jarrattdavis.com. If you don't like it they will...
What a small world. I took Jarratt Davis training couple of years back because i knew there was something missing in my trading and i could not figure out why a certain currency is miving in a certain direction. The traininh was the eye opener and it took me sometime before i got myself discliplined. And yes, i cant trade without fibonacci or pivot points. I feel like i m handicapped without them because those are awesome tools for entry/exit points
  • #208
  • Apr 7, 2018 7:33am Apr 7, 2018 7:33am
Fibonnacci has NOTHING ABSOLUTELY NOTHING TO DO with TRADING FOREX OR ANY MARKET. Instos are LAUGHING AT YOU EVERYTIME
YOU MENTION FIBBOFUCKINGNACCI

SERIOUSLY you think 61.812474829 means something? Oh lord
  • #209
  • Apr 7, 2018 7:58am Apr 7, 2018 7:58am
Quoting tabishmohmad
{quote} What a small world. I took Jarratt Davis training couple of years back because i knew there was something missing in my trading and i could not figure out why a certain currency is miving in a certain direction. The traininh was the eye opener and it took me sometime before i got myself discliplined. And yes, i cant trade without fibonacci or pivot points. I feel like i m handicapped without them because those are awesome tools for entry/exit points

It seems like he has loads of students no wonder he has so much money lol.

The course is really good and I 100% agree with you about the fibs and pivots as it's like being blind.

Do you use ransquawk etc?
  • #210
  • Apr 7, 2018 8:01am Apr 7, 2018 8:01am
Quoting MLeslie
Fibonnacci has NOTHING ABSOLUTELY NOTHING TO DO with TRADING FOREX OR ANY MARKET. Instos are LAUGHING AT YOU EVERYTIME YOU MENTION FIBBOFUCKINGNACCI SERIOUSLY you think 61.812474829 means something? Oh lord

Hmm well prop firms use them so I'm not sure who told you that. Is it a coinidence that they always retrace on key fib levels? And trades are supported pivots as extra confluence in line with fibs?

I suggest you do your homework on fibs before you type in here plz.
  • #211
  • Edited 8:20am Apr 7, 2018 8:05am | Edited 8:20am
Fibs have nothing to do with the price of fish. If fibs work then Why aren't you a millionaire?
Would be simple no? Just buy 61.2?

Put it this way ...

If fibs work then why not out limit at fib and stop loss 2 pips later youd make a fortune. Why not? They work therefore probability would be massive.
  • #212
  • Apr 7, 2018 8:47am Apr 7, 2018 8:47am
Quoting MLeslie
Fibs have nothing to do with the price of fish. If fibs work then Why aren't you a millionaire? Would be simple no? Just buy 61.2? Put it this way ... If fibs work then why not out limit at fib and stop loss 2 pips later youd make a fortune. Why not? They work therefore probability would be massive.
That's a very stupid thing to say about being a millionaire. That's like saying to someone you have Bloomberg terminal or reuters why aren't you a millionaire? Really?

I use ransquawk which isn't free and i also use forexlive.com. Twitter does help as well.

The fact is that fibs play a major part in my trading and many other fundamental traders both retail and at prop firms.

Why don't you go look at cable for example or even loonie and apply the fibanachi for the trading days this week just gone. Something tells me you haven't had much success using it. Look for pullbacks and see if they fall on the fib levels or close to them.

You can also line up the fib levels with pivot points as I said for more confluence.
  • #213
  • Apr 7, 2018 12:56pm Apr 7, 2018 12:56pm
Ransquawk sell yesterday's news, ask the CLS
  • #214
  • Apr 7, 2018 7:49pm Apr 7, 2018 7:49pm
Quoting Samson85
{quote} It seems like he has loads of students no wonder he has so much money lol. The course is really good and I 100% agree with you about the fibs and pivots as it's like being blind. Do you use ransquawk etc?
Naah, dont use ransquawk anymore since I switched to swing trading. Forexlive.com for news, forexfactory.com and investing.com for economic calendars has been working well for me so far. I may get Xenith down the road but so far have not felt the need for it
  • #215
  • Apr 7, 2018 8:48pm Apr 7, 2018 8:48pm
Quoting tabishmohmad
{quote} Naah, dont use ransquawk anymore since I switched to swing trading. Forexlive.com for news, forexfactory.com and investing.com for economic calendars has been working well for me so far. I may get Xenith down the road but so far have not felt the need for it
Swing trading fundamentals is better to an extent as it's harder to lose money. I have forexlive.com pop up on my phone just in case I'm away from the computer. I doubt I'll ever get xenith though.

Didn't you ever trade speeches or minutes live?
  • #216
  • Apr 7, 2018 8:59pm Apr 7, 2018 8:59pm
Quoting Samson85
{quote} Swing trading fundamentals is better to an extent as it's harder to lose money. I have forexlive.com pop up on my phone just in case I'm away from the computer. I doubt I'll ever get xenith though. Didn't you ever trade speeches or minutes live?
I used to but have not in a long time

I do not mind missing bread and butter trades which pop-up from speeches or minutes because I can still get some piece of it when there is a pullback
  • #217
  • Apr 7, 2018 10:11pm Apr 7, 2018 10:11pm
Quoting tabishmohmad
{quote} I used to but have not in a long time I do not mind missing bread and butter trades which pop-up from speeches or minutes because I can still get some piece of it when there is a pullback
Very true on the pull back.

I think trading the aftermath for press conferences is the best as it brings guaranteed pips. The best example was the last ecb one. It went up based on the minutes and then fell right back down. I made a few thousand of that.

Fundamentally in the next few weeks and even right now cad/jpy is going to be the pair to trade. Cpi and employment are both looking very good. Nafta looking positive. Just need this trade war to die down.
  • #218
  • Apr 7, 2018 10:11pm Apr 7, 2018 10:11pm
Quoting RondaRousey
{quote} I thought you use 20% technical. Fibs are technical. Now you saying it's a major part of your trading. You lying twit

Ok..........
  • #219
  • Apr 8, 2018 4:54am Apr 8, 2018 4:54am
Interesting, how about showing some trade setups to see if trading with fundamentals really works?

https://www.dailyfx.com/forecasts?ref=SubNav

following Dailyfx fundamental forecast, they are bearish on USD and AUD next week. The rest are neutral. What’s your view Samson85?
  • #220
  • Apr 8, 2018 5:10am Apr 8, 2018 5:10am
Interesting
im purely a tech trader I believe that news does effect markets but not in the way we think I believe that major banks etc already factor potential news release into price already so weather that news was released or not price would still always find its intended target weather that be long or short.
The only news I believe effects the market with uncertainty is when little rocket man fires his missels off over Japan nobody can factor that into price.
see this chart you posted for me I understand that at some point price would have to fill that gap and with such a strong move down to then suddenly stop tells me somethings not right there’s strong bullish pressure and low and be hold a W pattern played out
but hey that’s my take as long as your making money from robber banks life is good
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