Disliked{quote} Yeah I feel similar. To the OP would you not be looking to short on 22 Aug? Isn't it only with hindsight that you identify it is a new accumulation phase taking place at a slightly lower level?Ignored
1
{quote} Its easy to have interest - it's an interesting thread. Especially the non-chart side of it. I'm referring to this chart - https://www.forexfactory.com/attachm...6&d=1567672758 I am peculiar around here (I suspect) in that I'm not really a fan of charts. It always seems to me that you (well actually I!) can redraw a trendline or a box. Unlike a lot of chart stuff I totally agree with the underlying theory here, but I still feel it'd lead me down a line of never-ending redrawing. That's not a question exactly...
and that makes it "hard" to form a set of "fixed" rules for them. When something is discretionary in trading, it makes
it even harder because probability curve will skew even more.
Use your naked eye and start drawing zones across a pair, and across timeframes. This is the stage where I want
you all to Observe. The more detailed technical analysis will come soon so stay tuned
But before we can proceedto the next stage, your mind and eyes need to be trained to identify and focus on ranging phases. Trade safe
One of the most powerful but often ignored element of trading success- "Trading Efficiency".
.
Imagine you have a profitable system in place, the correct mindset to carry out trades, but you miss trade entries every now and then,
or take trades not based on a fixed approach that has no rules to restrict or guide you.
This lack of efficiency means more wasted trades and more unnecessary risks.
And every missed opportunity compounded will result in a skew of your performance curve in a long run!
A profitable system in the hands of low efficiency trader will ultimately result in chaos.
Fixate your system and focus on efficiency to see long term consistency and profits.
.
Imagine you have a profitable system in place, the correct mindset to carry out trades, but you miss trade entries every now and then,
or take trades not based on a fixed approach that has no rules to restrict or guide you.
This lack of efficiency means more wasted trades and more unnecessary risks.
And every missed opportunity compounded will result in a skew of your performance curve in a long run!
A profitable system in the hands of low efficiency trader will ultimately result in chaos.
Fixate your system and focus on efficiency to see long term consistency and profits.
- #26
- Edited 8:52pm Sep 5, 2019 8:37pm | Edited 8:52pm
Pretty shocked that FF moved me to commercial section when I'm sharing knowledge with the community with no commercial intent. Maybe the words I used are too sensitive in the forums? I guess life goes on, I will continue to share how I trade Market Phase Hedging Method, without commercial intent of course and step by step. Those who wish to learn and discuss are welcomed. Trade safe.
I believe is due to your website/product mate.
Awesome performance btw.
Cheers.
Would be interesting to see how your money management Come into it. Psychology and mental must be strong. I await more of your post... Thank..
Once Accumulation phase is determined,the range will be calculated and we determine the risk depending on the pip range.
Will discuss more when a live trade setup occurs. We have reached our target for the year at 100% gain,
thus playing out more defensively these few weeks while waiting for the phase to iron out. Trade safe
- #36
- Sep 6, 2019 10:52am Sep 6, 2019 10:52am
Going to drop a knowledge bomb here. What do you guys lookout for when you want to trade a pair? And how do you guys determine that you are going to take that trade for a Buy or Sell? Let me know your opinions
I am now also looking at how fair the range is in respect of the volume in order to try and identify areas where selling/buying is being absorbed.
I use market profile (or a variation of it) to identify gaps and sticking points in the market. Although like a lot of things, I've noticed that a lot of "up" volume can actually be a bad sign (such as AUDUSD last Friday).
Also now looking now at sentiment and how much it changes over the last 24 hours and week which is very intriguing.
So I'd choose a pair based on extreme changes in sentiment that are not accompanied by price moves, go AGAINST what volume is telling me, hit other peoples stops, and then go WITH what volume is telling me once we have formed a new low or high end.
Hypocrite lecteur, mon semblable, mon frere!
{quote} That's a real awesome way to trade!
I choose the most liquid instruments
Moved away from currencies and concentrating on futures nowadays, but its much better to trade eurusd than some exotic cross. Simply because of trading costs and liquidity.
Have a nice weekend you all
Hope
Necessity knows no law except to conquer