Exnav Friendly Courses of Action | Page 11 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Online Trading Courses, good investment? 41 replies

forex Courses 25 replies

Has Anyone Taken courses by Stephen Pierce? 3 replies

CME courses offered 0 replies

Attachments: Exnav Friendly Courses of Action
Exit Attachments

Exnav Friendly Courses of Action

  • #201
  • Edited 9:44am May 20, 2019 9:05am | Edited 9:44am
I'm just observing Cable PA and have been sending scouts. There's definitely an intermediate trend South, although a retracement may occur time-cycle-wise either today or tomorrow.
A possible counterforce could be in the area of the basing point since JAN 15 1.2670.

Edit at 16.43 h CET: Or, on the approaches to the CF Area they are playing a classic narrow congestion until something like FOMC minutes on Wednesday, one of a million of scenarios.
Not to Advance is to Fall Back
  • #202
  • May 21, 2019 1:12pm May 21, 2019 1:12pm
How Are you guys. Ball breaking day. but managed to get some pips.
  • #203
  • May 22, 2019 12:01am May 22, 2019 12:01am
Quoting Kennyrice
How Are you guys. Ball breaking day. but managed to get some pips.
Hello,

Congrats. Probably it should have been ball hitting for those having open positions before the developments through the US session.
If you consider the yesterday UK PM related activities retracement spikes, that was fine with me. It's too hot over here and I was not in mood to go strong, so made just scout size profits along with Cable (Shorts on her bounce right before the speech at 17.00 CET). On the other hand, I may look a bit deeper to the market-time-cycle concept. Should have played long when she made a double bottom from the Day lowest. I was mistakenly expecting her to come closer to the basing point.

Regards,
Not to Advance is to Fall Back
  • #204
  • May 28, 2019 12:33am May 28, 2019 12:33am
Inserted Video


Save to protect your money.
Invest to grow your money.
Speculate to gamble your money.
Not to Advance is to Fall Back
  • #205
  • May 28, 2019 12:39am May 28, 2019 12:39am
Inserted Video


Not touching any politics, there was the warning from legendary stock market speculator, Jesse Livermore, that speculation is "not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer. They will die poor."
Not to Advance is to Fall Back
  • #206
  • May 31, 2019 8:25am May 31, 2019 8:25am
Inserted Video
Not to Advance is to Fall Back
  • #207
  • Jun 19, 2019 1:43am Jun 19, 2019 1:43am
A bit of philosophy. Apart from any possible PR I would concur with the young man on the video below.
Strategy, MO, trading style must be fitting your individuality, temper, restrictions, personal pros and cons (unique for yourself, impossible to emulate) and your mindset. You don't control or lead the market, but you must be in control what you are doing and flow with PA (trade in the direction where price is moving now).
I should mow the grass right now and I check the weather outside the window but I look at forecast on all possible sources to assess if I can be in time before raining starts. Regardless the forecast, I will stop mowing once under shower.
Remark: how could I know the number so largely - publicly expressed- 70, 80, 90 or 99.99% of failure? If you lose, then surely - yes (I'm one of 99.9% - sounds reassuring, not the only loser); if you don't - will you trust the sources?

Inserted Video
Not to Advance is to Fall Back
  • #208
  • Jun 25, 2019 4:34am Jun 25, 2019 4:34am
Hi guys,

Hope u r doing good.

Was busy with other priorities of life so not participated much. I opened 100k demo 2 months back and started Trading. After -16% down, and making up in 1 months time, i realized what it means to overtrade, over leveraged, over exposed and Rigidity of mind.

I am not 11% up. Plan is to double the Account before going live. Till then happy learning.

-Ant
  • #209
  • Edited 5:51am Jun 26, 2019 1:45am | Edited 5:51am
Quoting antmindset
Hi guys, Hope u r doing good. Was busy with other priorities of life so not participated much. I opened 100k demo 2 months back and started Trading. After -16% down, and making up in 1 months time, i realized what it means to overtrade, over leveraged, over exposed and Rigidity of mind. I am not 11% up. Plan is to double the Account before going live. Till then happy learning. -Ant
Hello Antmindset,

If you have precious time, then don't rush. I should not jump to any further levels unless reached objectives of the level where I'm currently performing.

I do agree with you that the Size and Rigidity is something that may destroy both your account and mindset. Would it not be better to put a forced limit and play flowing small even on counterattacks. If not able to change direction or cut on time, then you may have a chance in a day or two to manage the situation but that would be possible having only deployed sound (affordable to manage/ and never ruining you) forces .

When reading charts correctly there are high probability opportunities that the PA comes to BE (close to flowing mean, trendline, more or less significant, recently created support or resistance zone, basing point) in a couple of sessions. E.g., London and/ or New York may start, then Asia continue making new highs or lows, then London and NY continue to get their (Asian) stops (making again new highs or lows) and finally she moves to BE after big guys approached to those top or bottom levels during Asia or early Frankfurt.
So, if I were in trouble by the end of my day, in more than 99% I could see the PA in my favour the next day or two. Never let your sizes reach your individual pain threshold levels. Luckily, I have not been caught in less than 1% of adverse moves (tsunami, black swan, SNB pegging...).
And... it's (humanly) normal that you wish to make BE (at least) the same session or day and not leave your babies unattended. But the market may not listen to you. They will show you as many baits as they want (good-luring-looking candles, reversal, retracement patterns, fundamental indications, etc.). Moreover, regarding spreads and swaps - they are using a sort of my around-midnight-time slippages, spikes when your estimated price level reached but TP order not triggered, on the other hand it will always work for stop-loss orders. E.g., a normal spread 2 points and the around-midnight one would be 5 to 50. Price moves a little farther where it should fairly be (when you compare it with other brokers and even with the same but later-on).

It's so easy to say... I'm personally off the trading ATM due to other commitments.
As our friends have been stressing: always read tape/ PA objectively, watch your size and flow the PA direction.

Best regards
Not to Advance is to Fall Back
  • #210
  • Jun 26, 2019 7:51am Jun 26, 2019 7:51am
Thanks Exnav.

I meant to say i am 11% up now. with 111K Demo account. I do realize that if size is small (Including rescue) and we have 3-4 rescue planned. It works in 99% cases.

Regards,

-Ant
  • #211
  • Jun 26, 2019 9:36am Jun 26, 2019 9:36am
Quoting antmindset
Thanks Exnav. I meant to say i am 11% up now. with 111K Demo account. I do realize that if size is small (Including rescue) and we have 3-4 rescue planned. It works in 99% cases. Regards, -Ant
Hello Ant,

Thank you. Yes, it's +11K on Demo account and a very good Demo performance of yours.

Probably I'm getting too protective in mind (so in reply to you) since Live trading sizes make wonders whatever Demo achievements are. I was not so patient and went Live almost directly years ago. To me, Demo is for technical reasons and new MO update testing. In spite of this, unfortunately, some brokers don't show their real face on Demo. It's also a part of the game.

Enjoy your trading and have all success.

Best regards,
Exnav
Not to Advance is to Fall Back
  • #212
  • Jun 26, 2019 3:21pm Jun 26, 2019 3:21pm
my dear friend,

all the friends in the TA left me. alex, phil, .... i dont dare to post questions in TA thread ... cos .. dont want chief to look at my post. really i am scared you may also leave me. usually i dont know whats the reason, i am despised.

if you have time, please have a look

  • #213
  • Jun 27, 2019 12:18am Jun 27, 2019 12:18am
Quoting pannet1
my dear friend, all the friends in the TA left me. alex, phil, .... i dont dare to post questions in TA thread ... cos .. dont want chief to look at my post. really i am scared you may also leave me. usually i dont know whats the reason, i am despised. if you have time, please have a look
Hello Pannet1,

I'm going to your thread so to express just what I might have done. Of course, in retrospective. You know that I do not trade Oil and am unfamiliar with the instrument. Surely, at the current time everything connected with the vital resources, e.g., oil, gold is highly sensitive due to: US - Iran, US - Venezuela, G20 summit, at least. So, I'll be purely technical there.

Best regards,
Exnav
Not to Advance is to Fall Back
  • #214
  • Edited 2:11am Jun 27, 2019 1:50am | Edited 2:11am
Quoting pannet1
all the friends in the TA left me. alex, phil, ....really i am scared you may also leave me. usually i dont know whats the reason, i am despised.
Dear Pannet,

Someone has told that words (maybe thoughts as well?) have/ induce power, and that energy is transferred through our common space. Should we accept it ( and how) on our end? We are different and still human. I used to work with people like on the video attached, so does my wife. Nobody is guaranteed for 100%. I must be happy and tolerant.

Best regards,
Exnav

Inserted Video


A peaceful video on the other end (what words can do/ turn with people; mass gas killings, etc.), I've been to this Auschwitz camp site twice:
Inserted Video
Not to Advance is to Fall Back
  • #215
  • Jun 27, 2019 6:14am Jun 27, 2019 6:14am
Quoting pannet1
my dear friend, all the friends in the TA left me. alex, phil, .... i dont dare to post questions in TA thread ... cos .. dont want chief to look at my post. really i am scared you may also leave me. usually i dont know whats the reason, i am despised. if you have time, please have a look
Only person who can make you scared is you, everything else is environment. It is your reaction to these thing which make you happy or sad.

In the end it is you and only you.
  • #216
  • Jun 27, 2019 9:28am Jun 27, 2019 9:28am
Quoting antmindset
{quote} Only person who can make you scared is you, everything else is environment. It is your reaction to these thing which make you happy or sad. In the end it is you and only you.
Hello Ant,

And that is entirely in line with the trader's motto expressed by Phil. Like be careful what you let in your mind...

Best regards,
Exnav
Not to Advance is to Fall Back
  • #217
  • Jun 27, 2019 2:36pm Jun 27, 2019 2:36pm
Quoting fti
{quote} The worst thing in trading is adding to bad positions.( So you never rescue until you can determine that the rescue is done, not on the impulse wave) When a position is bad, you must always be on defensive if you are to add to the existing position. First and foremost you should never add to a market thats cutting into the bleeding. ( the maxim is that you never catch falling knifes and shooting rockets).When an opportunity to add surfaces within a time windows of within x bars of last position, it is doing so out of window, ie if this opportunity...
Dear Exnav, What should i read to understand what chief is saying here. Can you point me to in the right direction.
  • #218
  • Edited 12:53am Jun 28, 2019 12:37am | Edited 12:53am
Quoting pannet1
{quote} Dear Exnav, What should i read to understand what chief is saying here. Can you point me to in the right direction.
Hello Pannet,

Presumably, in order to understand that you should read the TAF thread through
Then, there are plenty of books considered for trading analysts certification (they are also indicated within the TAF).

Otherwise, I'm unable to point in the right direction. Then, we will all be billionaires, won't we? If you even have a slight glance to some previous posts in this thread, you'll probably see my view regarding the Rescue issue. First, I don't advocate it. Second, I regard it as my counterattack (where, why, when and how big may/ must I attack). If there is no reasonable ground and opportunity, either wait for it longer (you may still see that objectively) or apply other available options.

If I'm incorrect at my scout/ position/ size entry (level and time - wise), I may cut it at once.
For the start, very briefly and simply: I should never go (trigger any orders/ open positions) against the currently flowing/ running Impulse. To me, Impulse is a sort of high speed PA, making at least more than 15 - 20 points (it could be hundreds within seconds or minutes). Then (later-on) you may see what the movement/ impulse was about and apply your chart/ PA reading and position/ money management skills.
E.g., it may happen immediately around news/ events that price shoots and instantly comes back and moves in opposite direction. Remember, the rubber band effect. Or, just moves in one direction, reacts back, consolidates and shoots farther, etc. What is right and when to do then?

I suggest, if you wish, we may dissect and develop this matter brain-storming and solving process by splitting into exact well defined pieces.

Best regards,
Exnav

P.S. I was by my trading wheel while SNB pegging was on the way: observing the Impulses, spikes, movements in just seconds for thousand, hundreds points back forth. But: I did nothing, I was completely unaware. Only when I read the announcement some 5 -7 minutes later I got that I had not managed the opportunity to fly...
Not to Advance is to Fall Back
  • #219
  • Jun 28, 2019 1:13pm Jun 28, 2019 1:13pm
Quoting Exnav
{quote} Hello Pannet, Presumably, in order to understand that you should read the TAF thread through Then, there are plenty of books considered for trading analysts certification (they are also indicated within the TAF). Otherwise, I'm unable to point in the right direction. Then, we will all be billionaires, won't we? If you even have a slight glance to some previous posts in this thread, you'll probably see my view regarding the Rescue issue. First, I don't advocate it. Second, I regard it as my counterattack (where, why, when and how...
Thanks for the detailed explanation. My bad, I was asking about the right wave and the left wave. I get basically waves are in 3 phases. Sometimes they have 5 phases. So this is where the left and right comes. Have you come accross any study material about this.
  • #220
  • Jun 29, 2019 3:47am Jun 29, 2019 3:47am
Quoting pannet1
{quote} Thanks for the detailed explanation. My bad, I was asking about the right wave and the left wave. I get basically waves are in 3 phases. Sometimes they have 5 phases. So this is where the left and right comes. Have you come accross any study material about this.
Dear Pannet,

In theory, we should know the Elliot basic stuff from/ by the book (E.g., Technical Analysis of the Future Markets by J.J. Murphy, Elliot Wave Theory, starting from page 319). We understand that there is probability of waves developing according to Elliot (historical script/ tape - Left; future probability - Right, new PA Impulse and/ or pattern/ candles development may confirm the probability). Thus, you may count what you have already on the Left and speculate what could develop on the Right (based on currently flowing PA). Although, I remember Fti expressing that he didn't count waves rigidly. E.g., there could be wave 3 or not, could be wave 5 or not and so on. I used to count the waves also the distances in points and fibo retracements but never rigidly (the same - decide upon confirming PA in the Now).

Apart from the above I suggest that you have a look at Post 645 on Phil's thread.

Best regards,
Exnav
Not to Advance is to Fall Back
1 trader viewing now