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  • #52,641
  • Oct 15, 2018 1:06pm Oct 15, 2018 1:06pm
Quoting tashkent
We should not be too concerned where the price is going to, nobody can tell that, unless you are omnipresent who can be here in and in the future the same time. All we can do is try to identify the direction based on higher tf, anticipate a trade in that direction (you will be either right or wrong) and most importantly, skillfully manage the trade, so you can come out with minimum loss if you were wrong and maximum profit if you were right.
I agree but when you are analysing the charts and price movement and assuming for a direction that based on your analysis...and I am just asking for the reason of of assumptions..hope you understand...

Thanks
MRMALIK1
  • #52,642
  • Oct 15, 2018 1:11pm Oct 15, 2018 1:11pm
Quoting TheFWord
{image} Risky long from 1577. SL hourly close below 1568
where does the fibo start?
Seems like a random spot to start it no?
  • #52,643
  • Oct 15, 2018 1:13pm Oct 15, 2018 1:13pm
Dudes, I am not a price predictor. I just use stuff like Pitchforks, Fibonacci extension, market profile, ABC, HH-HL etc. Then I simply take a view based on these tools, I decide on the most probable price target then I work out the level that invalidates the price target. I then commit to the price target until it is invalidated. After +10000 hours of screen time, this works for me.
  • #52,644
  • Oct 15, 2018 1:15pm Oct 15, 2018 1:15pm
Quoting cometome
{quote} where does the fibo start? Seems like a random spot to start it no?
First dip of the uptrend at 1547. Like I say, risky trade, but with the 50% lining up with a HH on the last uptrend with the fibs at that point I'm taking the chance that it forms a support. Even if it's just for a quick 10-15 pips up.
Life's only as complicated as you make it
  • #52,645
  • Oct 15, 2018 1:16pm Oct 15, 2018 1:16pm
Quoting mrmalik1
{quote} I agree but when you are analysing the charts and price movement and assuming for a direction that based on your analysis...and I am just asking for the reason of of assumptions..hope you understand... Thanks
i understand. being able to read the price action should be sufficient to determine the direction but even after that, what you have actually determined is the current direction up to this moment. this is why trying to predict the future, blinds the traders and they can't see how money and trade management could be vital in this game.
As Above, So Below
  • #52,646
  • Oct 15, 2018 1:17pm Oct 15, 2018 1:17pm
late now but i take short @1.1577

sl/50
tp/100

maybee tomorrow or at wedensday we will see this crap going down as the eu is in death mode(no vol)
Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
  • #52,647
  • Oct 15, 2018 1:18pm Oct 15, 2018 1:18pm
Quoting mbrown
Dudes, I am not a price predictor. I just use stuff like Pitchforks, Fibonacci extension, market profile, ABC, HH-HL etc. Then I simply take a view based on these tools, I decide on the most probable price target then I work out the level that invalidates the price target. I then commit to the price target until it is invalidated. After +10000 hours of screen time, this works for me.
Could please explain little bit with a chart if you don't mind
Thanks
MRMALIK1
  • #52,648
  • Oct 15, 2018 1:32pm Oct 15, 2018 1:32pm
Quoting mbrown
Dudes, I am not a price predictor. I just use stuff like Pitchforks, Fibonacci extension, market profile, ABC, HH-HL etc. Then I simply take a view based on these tools, I decide on the most probable price target then I work out the level that invalidates the price target. I then commit to the price target until it is invalidated. After +10000 hours of screen time, this works for me.
Can you please share your market profile file?
The consistency you seek is in your mind, not in the markets - Mark Douglas
  • #52,649
  • Oct 15, 2018 1:37pm Oct 15, 2018 1:37pm
7 posts in and already got someone ignoring me. Quite proud of this
Life's only as complicated as you make it
  • #52,650
  • Oct 15, 2018 1:38pm Oct 15, 2018 1:38pm
Back test of the 200 ems stochastic system 5 minute chart was dismal performance ten losses in a row
  • #52,651
  • Oct 15, 2018 1:45pm Oct 15, 2018 1:45pm
Quoting TheFWord
{image} Risky long from 1577. SL hourly close below 1568
SL to BE
Life's only as complicated as you make it
  • #52,652
  • Oct 15, 2018 1:46pm Oct 15, 2018 1:46pm
Quoting rocc
{quote} Can you please share your market profile file?
The only thing on my chart is JNN-Autpitchfork set to 60m and 2 Pitchfork.

Whether you believe this or not, I construct the Market Profile in my mind and superimpose it on the chart, I also construct basic harmonic patterns such as butterflies and fibs the same way. If I require an additional tool that I have used over the years it is done in my head. This is the benefit of having a lot of experience via screen time.

Anyway, enough of this. Ata's methodology is good enough for all who are serious about trading so I'll continue to post signals like I normally do.

Quoting TheFWord
7 posts in and already got someone ignoring me. Quite proud of this

  • #52,653
  • Oct 15, 2018 1:50pm Oct 15, 2018 1:50pm
the crocks know you will look left and think that it will happend again , but now it go up
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd 15M.png Size: 37 KB
yes yes yes
  • #52,654
  • Oct 15, 2018 1:52pm Oct 15, 2018 1:52pm
Quoting Moty
the crocks know you will look left and think that it will happend again , but now it go up {image}

Time will tell.
  • #52,655
  • Oct 15, 2018 1:53pm Oct 15, 2018 1:53pm
Long at :1.15798 with sl :1.15733

Take Profit 1 :1.16000.

Take Profit 2 : not set as I am waiting for the breakout on the upperside of the current range.


Looking forward to the movements on the Asian session.

If market moves in long direction I will set SL to entry point.

Kind regards,
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15.png Size: 37 KB
  • #52,656
  • Oct 15, 2018 1:54pm Oct 15, 2018 1:54pm
Quoting mbrown
Quoting tashkent
We should not be too concerned where the price is going to.../quote] Just trade how you trade and save the pontifications for else where. "we", how about "I". One trader may actually be very successful been concerned where price is going where as the next trader may go bust been concerned with where price is going; you see people are different, we process information differently. One of the reasons so many traders fail is because they attempt to trade homogeneously. So I respect your view when it comes with an "I" and just
...
no problem, consider it "I" instead of "We". not sure if it will change the meaning of my post but whatever makes you happy.
As Above, So Below
  • #52,657
  • Edited 2:50pm Oct 15, 2018 2:03pm | Edited 2:50pm
Been watching the battle for 1579. Bias is up due to 1-4H charts. 1H close below = a little more room for the downside.
Meanwhile long 1579, 5 pip s/l, tp- open
Stopped out
  • #52,658
  • Oct 15, 2018 2:08pm Oct 15, 2018 2:08pm
Inserted Video

300 year back test shows best crossover of ema's is 13 and 48.5.
  • #52,659
  • Oct 15, 2018 2:21pm Oct 15, 2018 2:21pm
Quoting tashkent
{quote}{quote} no problem, consider it "I" instead of "We". not sure if it will change the meaning of my post but whatever makes you happy.
Discretionary trading's most important component is psychology IMHO. The competent trader will use every trick in the book to ensure that head is in the right place when trading. Some traders do not have to make many adjustments, other traders have to think the price will go up 50% because they are long just so they don't close their trade early, some traders will do their analysis and commit to a direction and price target (you'd probably call it a prediction) in order to keep their head straight. This element of trading is a very much unique to the individual. This is why I do not like to see traders trying to fit trading straight jackets on inexperienced traders because some of the stuff taught maybe the precise thing that the unique individual needs to do to become a trading success in the long run. Thus and for example, I believe some personality types are more suited to counter trend trading, taken to the extreme this type of personality may never profit from the "trend is your friend" lore. I believe some traders couldn't be profitable if they didn't adopt the price is generally random and MM is what counts, I could go on and on basically there are as many ways to profit from the market as there are personality types. So the we don't need to do "whatever" doesn't hold because some will actually need to do "whatever" by virtue of their personality type.

Quoting TheLaw1
https://www.youtube.com/watch?v=K5MWTP2NFR0 300 year back test shows best crossover of ema's is 13 and 48.5.
That made me laugh.

What do you mean 300 years? Is it a typo? From where did they get 300 years worth of time series?
  • #52,660
  • Oct 15, 2018 2:27pm Oct 15, 2018 2:27pm
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_20181015_202650.jpg Size: 256 KB


Stop loss getting tickled but still just about hanging in there.

Edit. Aaaand we're out
Life's only as complicated as you make it
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