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  • #103,281
  • Mar 6, 2020 11:50am Mar 6, 2020 11:50am
Quoting Ata-Turkoglu
{quote} Thanks.. of course I have but unfortunately I didn't expect all this would happen this week.. I was thinking market will or will not close above 1.1207 and then I would aim for these levels but everything happened so fast as if EURO bulls were in a hurry.. Sighs.. but yeah.. weekly levels often do a great job.. Stay Green
It didn't catch my pending though. But i kept a sell at 1.1340 and earned a good 40 pips. Now another sell running from 1.1324.

I was expecting this. After market hit 1.1294, i was pretty much sure it would cross 1.1320 and move upto maximum 1.1350 with the SL hunting, which is why i asked you for the weekly high to get the validation.
  • #103,282
  • Mar 6, 2020 11:51am Mar 6, 2020 11:51am
Quoting Wavegarrick
Bearish engulfing 1 hr candle in just one minute...just saying cheers
Anyway, entered some short scalps off my 1hr bearish engulfing candle. Trades I will not enter easily unless from a position of strength. My trades are locked in and price must do what it has to. It is not something I can teach. It comes from within when you are confident and clear minded.
Cheers.
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Trade to trade another day
  • #103,283
  • Mar 6, 2020 2:45pm Mar 6, 2020 2:45pm
Comfort Levels in one go
  • #103,284
  • Mar 6, 2020 2:59pm Mar 6, 2020 2:59pm
All the good news coming out of the US today did nothing to help the USD. Only the long trade was good.
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  • #103,285
  • Mar 6, 2020 6:14pm Mar 6, 2020 6:14pm
Quoting krakFX
{quote} Why do you say this?
Because it's old data that doesn't take into account recent events "virus". Next month is what matters.
  • #103,286
  • Mar 6, 2020 8:29pm Mar 6, 2020 8:29pm
Quoting Wavegarrick
{quote} Anyway, entered some short scalps off my 1hr bearish engulfing candle. Trades I will not enter easily unless from a position of strength. My trades are locked in and price must do what it has to. It is not something I can teach. It comes from within when you are confident and clear minded. Cheers. {image}
The Swap doesn’t bother u bro?
Biggest Mistake ? Over Leverage
  • #103,287
  • Mar 7, 2020 12:39am Mar 7, 2020 12:39am
S/R Levels for Next Week

Touch to one of my previous Dashed-BLUE trendlines has happened.. Next week I first expect a retest and maybe a bounce down from 1.1363!!!

If 1.1363 can't resist then next resistance would be 1.1485..

If bounce does happen I would have probably already shorted this and my target would be the mid section of mofu candle: 1.1145/55 area! Once/if we arrive there I would look to buy again (as long as weekly candles close above GREEN line the trend is bullish!

I hope it helps.. Enjoy your weekends folks..

Stay Green
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Focus only on what truly matters!
  • #103,288
  • Mar 7, 2020 1:27am Mar 7, 2020 1:27am
Quoting sing2x
{quote} The Swap doesn’t bother u bro?
Hi Sing2x,
Yes it does, but something I have to live with. Unfortunately cost of business.

My oldest trade.
Cheers.
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Trade to trade another day
  • #103,289
  • Mar 7, 2020 2:38am Mar 7, 2020 2:38am
Swap, Commissions and such..

I never understood why people are bothered about swap so much.. You have negative swap and positive swap.. Over a long course those both equalize itself because some days you keep your longs and some days you keep your shorts.. Swap can(should) never be seen as profit or loss.. It should be ignored.. The real deal could be commission or spread.. but even those shouldn't bother a successful trader.. The problem and complaints occur only if a trader is not that successful and figuratively speaking: lives on bread crumbs.. Correct me if I am wrong.. My two cents..

Stay Green
Focus only on what truly matters!
  • #103,290
  • Mar 7, 2020 4:04am Mar 7, 2020 4:04am
Quoting Ata-Turkoglu
Swap, Commissions and such.. I never understood why people are bothered about swap so much.. You have negative swap and positive swap.. Over a long course those both equalize itself because some days you keep your longs and some days you keep your shorts.. Swap can(should) never be seen as profit or loss.. It should be ignored.. The real deal could be commission or spread.. but even those shouldn't bother a successful trader.. The problem and complaints occur only if a trader is not that successful and figuratively speaking: lives on bread crumbs.....

yes i agree... i use Interactive Broakers that done even have swaps, one always pays interest, which could add upp to large amounts if one keeps open large positions over night and not winning anything on the trade, why i try to avoid that to much extent.

IB also use fixed commission, up to 100k dollars one pays two dollars a trade, hence no spread (ontop of the market spread). I am overtrading to often and that does add upp to a high percentage of commision. During bad days over 5% which is not good. But as you say, as long as one earns money, one have to accept that life is not for free and this companies do make a service, and allows you to use leverage. And until i don't learn a better money management and paintence and overtrading, this is an issue.

I think/guess that many people here that use no commission account underestimates how large the commission is within the spread. Those amount are would be "scary" for a daytrader and scalper... yes, the spread may only be half a tick here or 1 tick during low hours. But for 5 trades a day, 200 trading days a year... that is 1000pips...
  • #103,291
  • Mar 7, 2020 6:56am Mar 7, 2020 6:56am
with my broker (tickmill.co.uk) the spread is zero almost all of the time ... so I don't feel bothered to trade for quick scalps.
MTF PA with indicators = a winning team
  • #103,292
  • Mar 7, 2020 7:24am Mar 7, 2020 7:24am
Quoting krst8
{quote} yes i agree... i use Interactive Broakers that done even have swaps, one always pays interest, which could add upp to large amounts if one keeps open large positions over night and not winning anything on the trade, why i try to avoid that to much extent. IB also use fixed commission, up to 100k dollars one pays two dollars a trade, hence no spread (ontop of the market spread). I am overtrading to often and that does add upp to a high percentage of commision. During bad days over 5% which is not good. But as you say, as long as one earns...
Again: it is only a problem for the losers... With your example.. A consistent trader who, let's assume, would make 10 pips profit a day would gain 10.000 pips in a year (with higher leverage the cost/pip percentage drops even lower) .. He pays 1.000 pips as cost of trading.. All well.. The real issue is: 99% of traders don't make 10 pips a day.. That's the reason of spread or commission talk..

Stay Green
Focus only on what truly matters!
  • #103,293
  • Mar 7, 2020 7:39am Mar 7, 2020 7:39am
Quoting Ata-Turkoglu
{quote} Again: it is only a problem for the losers... With your example.. A consistent trader who, let's assume, would make 10 pips profit a day would gain 10.000 pips in a year (with higher leverage the cost/pip percentage drops even lower) .. He pays 1.000 pips as cost of trading.. All well.. The real issue is: 99% of traders don't make 10 pips a day.. That's the reason of spread or commission talk.. Stay Green
i fully agree with you, commission and swap “hurts” when loosing trades... like in any other business there is cost involved but if making consistent gains it is an operational cost that one can easily swallow... Going out of topic here sorry!
  • #103,294
  • Mar 7, 2020 7:57am Mar 7, 2020 7:57am
Quoting Ata-Turkoglu
{quote} Again: it is only a problem for the losers... With your example.. A consistent trader who, let's assume, would make 10 pips..

. The real issue is: 99% of traders don't make 10 pips a day.. That's the reason of spread or commission talk.. Stay Green
Hi guys.

Great thread, charts, wisdom...

I apologise if I don't come often.

Also no chart from me. MA200. Enough said. Buy. Add.
I remember 2015 or 16 French elections?? Damn thing was flying.

One thing - I expect another pullback then buy...

About what Ata said.

Everyone can make 10 pips.... But...

The real problem is - people are greedy. People want 80 pips...
People are affraid to change their mind and close a loss.
There was a time I was dragging losses for a month

Now I look around. Enter. Obviously decide what direction. FED cut??? Problem solved up.

Buy few orders. Set few buy limits below. Few TP above...
Take 15 pips. Take 30 pips. Leave 60 pips to run.
Put TP in stop hunt zone. Like round number.

There's very little philosophy. There's patience.
Profit hit?
Wait for corrections THEN ADD AGAIN...

That's my action.
PATIENCE!!!
Avoid news.... Avoid liars explaining signals... ABC... Fibo...
Keep your eye on fundamentals.

Green pips all.
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Beware of robber banks (RB), bad advisors.
  • #103,295
  • Mar 7, 2020 8:07am Mar 7, 2020 8:07am
Before someone asks....
I do my targets in increments . Around 20-40 pips.

Rarely put Stop Loss. Too many spikes!!!!
I close manually if I decide.
Not decision by market

Then one TP for example near big Big level.
Actually I'm little short overall now... Don't ask .... . It's risky... I have specific trade style.

My next TP are 1.1360 obviously longs. 1390-1410 stops...

Down is 1.1250 round. 1220 zone obviously.
And 1180 which is Stop Hunt.

There I'll be adding so 1170-1250 area.

Simple ehh? I can add chart but why
Beware of robber banks (RB), bad advisors.
  • #103,296
  • Mar 7, 2020 8:15am Mar 7, 2020 8:15am
Nice simple charts!!!

Quoting Ata-Turkoglu
Swap,... eople are bothered about swap so much.. You have negative swap and positive swap.. Over a long course those both equalize itself because some days you keep your .. s.. Stay Green

My long swap was horrible. Over 1 pip.
So I quit damn broker.

Sometimes 1 pip swap is too much, with 0.3 short swap.


Nope. Out.

Quoting notyetthere
with my broker (tickmill.co.uk) the spread is zero almost all of the time ... so I don't feel bothered to trade for quick scalps.
So u pay commission 5 - 6 points or 0.5 pip.

It's Never FREE LUNCH!!!

Guys.
Fight for your interests. Damn brokers !
Beware of robber banks (RB), bad advisors.
  • #103,297
  • Mar 7, 2020 11:17am Mar 7, 2020 11:17am
For any neophytes or anyone interested in technical analysis trader perspectives, I left this on Price is Everything thread.

https://www.forexfactory.com/showthr...1#post12797208
Charts are limited in nature. What is the relative location?
  • #103,298
  • Mar 7, 2020 1:56pm Mar 7, 2020 1:56pm
Quoting bmac
For ... technical analysis ...
I think I moved from technical (5+ years of losses) to fundamental ...

Also I have 1-2 other things to use....

But frankly....
.... I have such a respect for technical analyses
I made a poster ..

Ideas, comments?
Ata will excuse me if it's off topic.
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Beware of robber banks (RB), bad advisors.
  • #103,299
  • Mar 7, 2020 2:38pm Mar 7, 2020 2:38pm
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it could effect on opening price in Monday
  • #103,300
  • Mar 7, 2020 3:03pm Mar 7, 2020 3:03pm
Quoting Not-KPMG
{quote} I think I moved from technical (5+ years of losses) to fundamental ... Also I have 1-2 other things to use.... But frankly.... .... I have such a respect for technical analyses I made a poster .. Ideas, comments? Ata will excuse me if it's off topic. {image}
Whatever works for you....

Just posting to offer a perspective, not implying its the only way to trade or think.

This is kind of why I haven't posted or even visited FF in many years. Seems some things haven't change. Just stopped by for the heck of it.

There's no time to change other traders minds.
Charts are limited in nature. What is the relative location?
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