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  • #1,165,521
  • Apr 1, 2020 7:22am Apr 1, 2020 7:22am
ADP came better than expected, but a big drop on jobs.

EU didn't even moved, instead its droping.

This is an extreme bearish situation.
Looking for profitable short term trades ...|
  • #1,165,522
  • Apr 1, 2020 7:24am Apr 1, 2020 7:24am
Quoting Techanalyst
Another buy loss on EURUSD -$85.12.
Sorry to hear that.

Do you see how you went wrong in the decision you made?

I think it would be interesting to start a thread allowing FF members to share their mistakes and highlight what they have learned from them. It could be quite helpful.
Learn from your mistakes and march on.
  • #1,165,523
  • Apr 1, 2020 7:24am Apr 1, 2020 7:24am
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  • #1,165,524
  • Apr 1, 2020 7:25am Apr 1, 2020 7:25am
Quoting Js3mwtRc
ADP came better than expected, but a big drop on jobs. EU didn't even moved, instead its droping. This is an extreme bearish situation.
I don't see it lasting long. I believe it will go up.

In other words, it could continue to go down some, but I think bulls won't let bears party for too long.
Learn from your mistakes and march on.
  • #1,165,525
  • Apr 1, 2020 7:31am Apr 1, 2020 7:31am
Quoting here2there
{quote} Sorry to hear that. Do you see how you went wrong in the decision you made? I think it would be interesting to start a thread allowing FF members to share their mistakes and highlight what they have learned from them. It could be quite helpful.
Not a lot of traders will do that. Plus it is time consuming. I don't mind sharing my wins and losses. Showing that you can't be 100% right. The goal is to be in positive profit every month. I went wrong because I assumed this was going to go up, but did not want to buy yet. But I did anyway. Also I feel like I started chasing the market which is a no in trading business. Now I placed my sell position based on analysis and news. I think this is a good spot to sell.
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  • #1,165,526
  • Apr 1, 2020 7:31am Apr 1, 2020 7:31am
Quoting here2there
{quote} Sorry to hear that. Do you see how you went wrong in the decision you made? I think it would be interesting to start a thread allowing FF members to share their mistakes and highlight what they have learned from them. It could be quite helpful.
I made that thread in the past

Called "only losses"

But people don't post much...you know FF is full of winners
COT: The precious data ignored
  • #1,165,527
  • Apr 1, 2020 7:35am Apr 1, 2020 7:35am
Quoting Techanalyst
{quote} ...I went wrong because I assumed this was going to go up, but did not want to buy yet. But I did anyway.
FOMO

I have the same problem, but I am overcoming it.

I lost tens of thousands of dollars in the crypto market because of FOMO. Hard lesson!
Learn from your mistakes and march on.
  • #1,165,528
  • Apr 1, 2020 7:35am Apr 1, 2020 7:35am
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yes yes yes
  • #1,165,529
  • Apr 1, 2020 7:36am Apr 1, 2020 7:36am
Quoting eastrader
{quote} Breakeven now. {image}
9 hrs trade entry, i just close my sell entry. Will see another entry if it break.

Attached Image (click to enlarge)
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wise man say, only fools rush in
  • #1,165,530
  • Apr 1, 2020 7:49am Apr 1, 2020 7:49am
I want to buy NOW! But I won't. The Limit order approach doesn't work well in today's market. I will wait for strong confirmation. I don't need the best price. I need patience. Patience is key to success.
Learn from your mistakes and march on.
  • #1,165,531
  • Apr 1, 2020 8:05am Apr 1, 2020 8:05am
Quoting here2there
I want to buy NOW! But I won't. The Limit order approach doesn't work well in today's market. I will wait for strong confirmation. I don't need the best price. I need patience. Patience is key to success.
i'd be cautious....look at GBP & JPY for example. They barely moved down
They are resisting...

Unless equity does something....
COT: The precious data ignored
  • #1,165,532
  • Apr 1, 2020 8:11am Apr 1, 2020 8:11am
Quoting kuroro001
{quote} I made that thread in the past Called "only losses" But people don't post much...you know FF is full of winners
#
# of course were else can you find such a fine group of traders.

  • #1,165,533
  • Apr 1, 2020 8:13am Apr 1, 2020 8:13am
Quoting here2there
I want to buy NOW! But I won't. The Limit order approach doesn't work well in today's market. I will wait for strong confirmation. I don't need the best price. I need patience. Patience is key to success.
Here is explanation on how to use COT according to speculators and dealers. Very good information.

https://freecotdata.com/how-to-use/
  • #1,165,534
  • Apr 1, 2020 8:25am Apr 1, 2020 8:25am
The closer I look at the charts, the more I am seeing Japanese Candlestick Shadows are less of a help and more of a threat to a trader. I am starting to think it is better to ignore them and only look at the range of the move.
Learn from your mistakes and march on.
  • #1,165,535
  • Apr 1, 2020 8:26am Apr 1, 2020 8:26am
Quoting Techanalyst
{quote} Here is explanation on how to use COT according to speculators and dealers. Very good information. https://freecotdata.com/how-to-use/
They use 5 year percentile for the datas. Its a good way of calculating extremes

Else, check here, usefull site

https://cotunchained.com/
COT: The precious data ignored
  • #1,165,536
  • Apr 1, 2020 8:28am Apr 1, 2020 8:28am
Quoting here2there
I want to buy NOW! But I won't. The Limit order approach doesn't work well in today's market. I will wait for strong confirmation. I don't need the best price. I need patience. Patience is key to success.
I have indicators telling me to buy now but I'm not convinced.
  • #1,165,537
  • Apr 1, 2020 8:30am Apr 1, 2020 8:30am
Quoting investing101
{quote} I have indicators telling me to buy now but I'm not convinced.
We all have indicators like that. Lol

The worst ones are those with arrows.
Learn from your mistakes and march on.
  • #1,165,538
  • Apr 1, 2020 8:36am Apr 1, 2020 8:36am
Quoting here2there
{quote} We all have indicators like that. Lol The worst ones are those with arrows.
I use noncorrelated indicators. Cyclical, Momentum, and Price based. Only priced based oscillators are telling me that there is more downside but cyclical and momentum are very weak and have formed strong support.


I usually don't look at lower times frames but the 5 minute chart looks to have formed bullish divergence.
  • #1,165,539
  • Apr 1, 2020 9:01am Apr 1, 2020 9:01am
Quoting investing101
{quote} I use noncorrelated indicators. Cyclical, Momentum, and Price based. Only priced based oscillators are telling me that there is more downside but cyclical and momentum are very weak and have formed strong support. I usually don't look at lower times frames but the 5 minute chart looks to have formed bullish divergence.
It is a tricky situation. And that is why it is better to wait. Market makers appear to be playing a psychological game here, most likely with the intent to trap both bulls and bears.
Learn from your mistakes and march on.
  • #1,165,540
  • Apr 1, 2020 9:06am Apr 1, 2020 9:06am
USDCHF is known to move in the opposite direction of EURUSD (negative correlation). Thus, it could be a leading indicator. Notice how USDCHF's shade of green is getting darker. This is indicative of loss of bullish strength.

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Learn from your mistakes and march on.
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