Took 3 more profitable trades on the AUD/JPY. Now that I have regained my big loss of over 2000 I will post all trades. That loss of over 2000 was a trade I did not pay attention to the soon coming news event that took place. Will not do that again.
I have been gone for a while I think it is time for an update on what is going on with the EURO Dollar. I think Morgan Stanley is onto something with their recent article on the Dollar. FED policy has weakened while Europe's policy remains the same and they seem committed to continuing. If the FED stays with their policy unchanged I definitely see a big up move on the Euro.
If you look at your charts we have been in a horizontal channel since the 1st quarter on 2015 with no clear sense of what direction we are heading to. Morgan Stanley's opinion combined with oversold indicators in very large time frames "aka weekly, monthly" are indicating a very strong move up is coming for the Euro.
My understanding is this system is based on not caring on what happens vis a vis geo politics and other such events and news. Are we to consider such fundamental events or news into consideration? Please correct me and help me understand.
I take fundamentals very seriously, in fact I don't trade news but sometimes I am in a trade for hours or days and obviously experience news. It just helps being in the side of the trend.
Investing, My understanding is this system is based on not caring on what happens vis a vis geo politics and other such events and news. Are we to consider such fundamental events or news into consideration? Please correct me and help me understand. Thanks
Thanks for giving your inputs.My apologizes in advance as i am still a noob and kindly help me in clearing my confusion. I am quoting two of your posts:
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Post 1:
"You could avoid trading news or trade based on higher time frames. I can't remember the last time I followed news reports, frankly I am too busy to care about news so I trade based higher time frames. The results are based on not caring what news or analysts say and focusing on demand and supply. Yeah some news made my account volatile sometimes but it is only temporary. My advice would be to either avoid news or have enough buying power so the trade comes back to you."
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Post 2:
"I take fundamentals very seriously, in fact I don't trade news but sometimes I am in a trade for hours or days and obviously experience news. It just helps being in the side of the trend."
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1. As long as we trade in higher time frames, can we ignore the fundamentals even though the account might be volatile temporarily?
2. When you say, you take fundamentals seriously, do you mean you analyze the market along the lines like:
"FED is doing XYZ, NFP results could be something or the probability ABC event happening is high".
So the trade according to fundamentals is going long. You now then look for an opportunity to long as per the system?
(or)
Do you trade originally as per system with the exception that if any event is close by you stay on the sidelines?
I am making the assumption that Fundamentals is translated into news...
Investing Sir, your guidance is much appreciated...
Thank you Investing, you have opened my mind to something I've always and used but deviated from due to my ignorance and chasing the price instead of waiting patiently for price to line and "come to the table" to be "snacked" on...lol!!!
