Learning to Dance, The Journey!! | Page 3 | Forex Factory

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Learning to Dance, The Journey!!

  • #41
  • Jun 13, 2018 1:23pm Jun 13, 2018 1:23pm
All squared, was able to rescue the troops. Terrain should determine your MM.
Would be little picky tomorrow.
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When U allow your emotions to dictate your decisions, U make bad decision
  • #42
  • Jun 14, 2018 1:46am Jun 14, 2018 1:46am
Sitting on my hands, waiting for the right set up.
Saw 3oK in sync so I didn't bother to fade any move inside London session.
When U allow your emotions to dictate your decisions, U make bad decision
  • #43
  • Jun 14, 2018 2:46am Jun 14, 2018 2:46am
Quoting Sdtag
{quote} I have a sound alert playied every 5min and trade only candle close, so its ok, no eye strain {quote} where is your SL?

....been thinking about time frames and FTI water flowing - there is the tide, then the waves in and out and then the ripples in the waves ....... for m5 better to enter m1 but then h1/d1 can still whack you.

Alex
check out the terrain - follow never lead
  • #44
  • Jun 14, 2018 5:10am Jun 14, 2018 5:10am
Good morning guys, big moves today, lets see if they leave something for us today, big news again in 21mins, I just looked at TAF, so I wonder how you guys trade, wish you green pips today

AG
SDTAG
  • #45
  • Jun 14, 2018 7:14am Jun 14, 2018 7:14am
I just turn on the PC, what's going on? hope no one tried to catch hot knife. Big news.

I'll wait for things to settle down and dance.


Quoting alexandria
{quote} ....been thinking about time frames and FTI water flowing - there is the tide, then the waves in and out and then the ripples in the waves ....... for m5 better to enter m1 but then h1/d1 can still whack you. Alex
Do you take some of your trades on 1min? I suppose that TF would require extra finesse and attention.
I don't go blow 5mins, daily for major trend direction.
When U allow your emotions to dictate your decisions, U make bad decision
  • #46
  • Jun 14, 2018 7:22am Jun 14, 2018 7:22am
Quoting SolidSnake-
I just turn on the PC, what's going on?
Hi SolidSnake-

Fundamental/news…

Euro decided not raise rates (as expected) and had/made dovish comments today, yesterday usd raised rates but people not impressed with projection/comments, most usd rate rise was priced in and big players took profits into new longs after news, now they see usd as a better option and money is flowing into that..... the 3K's.

Regards

Phil.
-be careful about what you allow to be put in your mind-
  • #47
  • Jun 14, 2018 7:37am Jun 14, 2018 7:37am
Quoting SolidSnake-
I just turn on the PC, what's going on? hope no one tried to catch hot knife. Big news. I'll wait for things to settle down and dance. {quote} Do you take some of your trades on 1min? I suppose that TF would require extra finesse and attention. I don't go blow 5mins, daily for major trend direction.
FOMC then ECB news today: need to hunt them orders long into d1 walled city and then news whacked em - be mad to be in before such news I think. I get nervy round big news days must admit.

no: m5 for entry looking at d1/h1/m15 - who got trapped/where are orders (thanks to Jupiter and Donsky etc)

Alex
check out the terrain - follow never lead
  • #48
  • Jun 14, 2018 8:03am Jun 14, 2018 8:03am
Thanks a lot phil and Alex, I've got no idea about fundamental analysis, I just check the calendar on here and try to avoid trading around the news.

Looking to dance GU long when the time is right, scared of the EU look.
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When U allow your emotions to dictate your decisions, U make bad decision
  • #49
  • Jun 14, 2018 8:14am Jun 14, 2018 8:14am
Scout in...
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When U allow your emotions to dictate your decisions, U make bad decision
  • #50
  • Edited 9:47am Jun 14, 2018 8:29am | Edited 9:47am
Dancing shoes on...


Add on 1.3335

Rescue in 1.3298
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When U allow your emotions to dictate your decisions, U make bad decision
  • #51
  • Jun 14, 2018 10:18am Jun 14, 2018 10:18am
Rescue, Operation Urgent Fury
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When U allow your emotions to dictate your decisions, U make bad decision
  • #52
  • Jun 15, 2018 2:18am Jun 15, 2018 2:18am
No trading today, after the battle of my life yesterday. Squared -8pips
New found respect for the market.
When U allow your emotions to dictate your decisions, U make bad decision
  • #53
  • Jun 15, 2018 2:28am Jun 15, 2018 2:28am
Quoting SolidSnake-
No trading today, after the battle of my life yesterday. Squared -8pips New found respect for the market.

good idea: not sure how many you traded for rescue - did you consider which trend/momentum you were trading + did you consider turn on wind? Did you look at h1 to see what had just happened? Just my thoughts I traded eurusd short for a bit but I still get nervy on big news - must learn not to.

Alex
check out the terrain - follow never lead
  • #54
  • Jun 15, 2018 3:18am Jun 15, 2018 3:18am
Quoting alexandria
{quote} good idea: not sure how many you traded for rescue - did you consider which trend/momentum you were trading + did you consider turn on wind? Did you look at h1 to see what had just happened? Just my thoughts I traded eurusd short for a bit but I still get nervy on big news - must learn not to. Alex
3 levels rescue instead of 2. I was too rigid and didn't turn when I should. I was trading against the major down trend + increase volatility, waiting for a snap retracement to get out of it, which didn't come for long time.
When U allow your emotions to dictate your decisions, U make bad decision
  • #55
  • Jun 15, 2018 3:36am Jun 15, 2018 3:36am
Hi SolidSnake-

Good to hear you got away with minimal damage in that trade. It was F/A that lead the action so that is why all the T/A was not working/reacting. You will need to learn the basics of fundamentals to trade and recognise which type of move we are in (F/A or T/A), you do not need in depth knowledge of F/A mainly learn how interest rates work and what happens when a currency introduces stimulus.

If you are having trouble with reading the 3K’s (everybody does at first) then keep an eye on the hourly USDX this give you the bigger picture of what the market wheel is doing, this works because when you trade any or all of the 3K’s you are essentially trading the USD, another good idea I have found is to try to think in terms of each currency instead of pairs.

Also I did note that you are a little pre-emptive in taking your trades, believe me it is best to wait for a good momentum bar/s to show and the p/a to show clues as well, not a criticism we all do that at first thinking we may miss out, later down your learning curve you will understand it is better to miss an entry than take bad timed recovery trade, it can get you in very underwater snowball condition very quickly, then you will have trouble processing anything due the fight or flight response we all have inside us, I know I have been there many times before during my progression along the learning curve.

Regards

Phil.
-be careful about what you allow to be put in your mind-
  • #56
  • Jun 17, 2018 3:09pm Jun 17, 2018 3:09pm
Thanks Phil.

You're pretty spot on with your assessment, I could really do better. I've got a lot of room for improvement and I could use all the help I get here.
Yes I'm applying 3K's somewhat now , I try not to fade any move when they are in sync.

What I need to do is have a solid limit for underwater snowball condition. It will definitely come someday, because I like the recovery part of the method. Should plan splitting of account- capital / trading account. I'm still work in progress.
When U allow your emotions to dictate your decisions, U make bad decision
  • #57
  • Jun 17, 2018 11:32pm Jun 17, 2018 11:32pm
Hi SolidSnake-

no problem my friend, maybe this picture will help a little...

regards

Phil.

Attached Image
-be careful about what you allow to be put in your mind-
  • #58
  • Jun 18, 2018 12:53am Jun 18, 2018 12:53am
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When U allow your emotions to dictate your decisions, U make bad decision
  • #59
  • Jun 18, 2018 1:22am Jun 18, 2018 1:22am
Quoting SolidSnake-
{quote} 3 levels rescue instead of 2. I was too rigid and didn't turn when I should. I was trading against the major down trend + increase volatility, waiting for a snap retracement to get out of it, which didn't come for long time.
Before you enter trade consider terrain: fundamentals/big news/RoK/trend/price action (coiling/ranging/trending/choppy......: (d1/h1/m15/m5): take a look around: would an army attack without checking the terrain-weather - daylight hours - enemy status etc?

Then work out your plan - what if a or what if b?

What is purpose of scout - did you listen?

This is a long journey.

  1. if in trend mode: stay with trend.
  2. on change of impulse in scout mode or early rescue change side
  3. etc etc from FTI


Alex

check out the terrain - follow never lead
  • #60
  • Edited 7:25am Jun 18, 2018 7:13am | Edited 7:25am
Thanks Alex.

Scout is to feel the market, and it's expendable.
When U allow your emotions to dictate your decisions, U make bad decision
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