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EURUSD

  • #1,183,841
  • Sep 12, 2020 6:03am Sep 12, 2020 6:03am
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Click to Enlarge Name: EURUSD.xD.png Size: 77 KB
  • #1,183,842
  • Sep 12, 2020 6:10am Sep 12, 2020 6:10am
Quoting tradecode
{quote} probably the most basic and most important part of technical analysis is about deciding to go long or short or neutral. this is the sixty four million dollar question. this is the thing that baffles traders, not risk:reward.. risk and reward calculations are simple.

Risk and reward calculations are everything, going long or short isn't technical analysis.. In a bulls market, people make money going short and vice versa. As a matter of fact, anybody who's shorting the EURUSD this month has been doing the same.. and as you must have seen, many do it pretty well. Technical Analysis is about analyzing the asset, not a timeframe of the asset. Problem with most traders is they say trading is gambling yet they approach it like it's not, I would say you should know and get that fact etched into your brain that trading is not gambling.. but it's best to approach it as if it is, I am talking about money management here ONLY, allow the market to take from you what you can afford to give it.. to try an idea you have. It's pretty simple.. and when something is going your way, let it run to make the best of it. There are traders who are right 8 times out of 10 but lose money, just because they book their profits early and let their losses run hoping the market turns back.. and there are traders who are wrong 8 times out of 10 but those 2 positions make them way more money than the losing 8 positions, this is risk reward.. this is technical analysis.

You never lose in trading, that's a suicidal mentality and will make you chase your losses and get you deeper in the rabbit hole, you just pay for the lessons learnt, you just pay for your entertainment because this is what you love to do.. and you keep doing it, paying what you can afford to give to try out your ideas and your competence.. You can't trade for long unless you absolutely love to do it, money should come as a byproduct.. if it's your first priority most likely market will swallow you whole.. and trust me it just depends what kind of a nut you are, I have seen many and I have been there myself who will give years of earnings to the market trying to chase that one stupid initial loss that keeps accumulating. So I would say don't focus on who's trading what, how much and how.. just have fun watching how everyone has their own approach that works for them, and build yours that suits your personality.. In my opinion, trading is less about what's out there and more about what's going on in here in my mind.. the foundation is the psychology, and you build the rest on top of it.. without this base, nobody is going to last in this line of work.. and the guys you are arguing are most likely ahead of that curve and their work on themselves is complete, so they come here and have fun while sharing their ideas.. nobody wants to prove anything to anyone here.. and for years they have been here, they have survived which means they have created their realities the way they planned to.. so I think take what you can from them to learn, it will be useful.. but don't try to teach them because what they are doing is working for them and they simply share because they know what's working for them will work for anybody.. it's just a matter of understanding the fundamentals.. which is, psychology.
Seek, because knowledge is a boundary.. but ignorance is boundless- SJV
  • #1,183,843
  • Sep 12, 2020 6:12am Sep 12, 2020 6:12am
Quoting srby
{quote} What did I demand? Please read properly and do not assume. I demanded nothing. I merely expressed my opinion in a very respectful way to a question you posed. Since when did it become forbidden that some one can not express their opinion in a public forum?

Please see my last post, I think it was meant for you more than tradecode.
Seek, because knowledge is a boundary.. but ignorance is boundless- SJV
  • #1,183,844
  • Sep 12, 2020 6:13am Sep 12, 2020 6:13am
Inserted Video
  • #1,183,845
  • Sep 12, 2020 6:31am Sep 12, 2020 6:31am
Quoting srby
{quote} Ha!, I answered my question?? My point being there was a free public blog on the internet by a retail trader showing his trade account size etc. and it helped and inspired many traders . Due to the success of that blog, main posts of that blog were published as a book after few years. I hope you do understand that I am in no way asking for a trader to reveal his account size/ trade sizes, if he/she does not want to reveal it. My humble opinion is just that, if a trader chooses to do it, then there is a possibility that it can help some other...

See you may have another perspective, and your opinions.. I respect that. But in a decade of swimming in this market, one thing I can tell you for sure is that if a trader is focused on one's own or another's lot sizes and how much money another is making or they themselves could make.. sooner or later they will get into that 90% category of the traders who lose, and then brag about how the market is a lie, scam etc whatever.. It will only work out if you let the money be a byproduct of your skill, and your enthusiasm towards the market.. if you have that kind of relationship with the market, it entertains you to give it a try to see if your analysis is on point.. money will happen and in worst case, you won't be losing what you couldn't afford in the first place.. because you entered only with what you were already willing to give, just to see if you have the skill to read the human psychology about the value of your asset. Focusing towards lot sizes is like focusing towards the end result [that you know nothing about] instead, be focused on the process.. analyze your risk and reward, manage your money well.. that's all you can do, enjoy the journey and see where it takes you. It's like planting a seed, you don't sit there and hope for a big tree and take out the seed every once in a while if it's growing.. you just make sure it's getting enough nourishment, enough light and water.. and the tree will happen.. I am saying in my opinion, keeping your eyes on the money you want to or could make is of no use.. focus on the process, work on getting in and out at the right places at the right time with the right money management according to your idea.. and money will be created eventually. And this is all others are trying to tell you, focus on the strategies and the systems and psychology of other traders here, and everywhere.. not what they are making. Risk only what you are willing to give away to the market, it has nothing to do with what lot sizes others are trading.. that is one aspect that is useless for another and in fact harmful.. so you don't cause yourself harm and take away your possibility of entering the market next time.. because the opportunities will be there always, all you have to do is make sure you are available to them.
Seek, because knowledge is a boundary.. but ignorance is boundless- SJV
  • #1,183,846
  • Sep 12, 2020 6:32am Sep 12, 2020 6:32am
Quoting Techanalyst
https://www.youtube.com/watch?v=sg4Y...ture=emb_title

This dude literally got me on the right track years ago.. respect.
Seek, because knowledge is a boundary.. but ignorance is boundless- SJV
  • #1,183,847
  • Sep 12, 2020 6:34am Sep 12, 2020 6:34am
Quoting Techanalyst
{image}
imho ... if we see another and compared pair heading based on usd.. we can get a clue where will heading of for eur usd
usd cad structure going up
usd jpy with cot analysis going strong
etc..
comparing with cot and with technical analysis giving us a clear bias..
  • #1,183,848
  • Sep 12, 2020 6:37am Sep 12, 2020 6:37am
Quoting tradecode
{quote} i dont hate any thing that anybody does, unless it affects me directly.
i hate it because it such a waste a time to scroll this thread 20 pages in active market time watching people trying to prove someone is bullshitting while other person simple sharing his ideas.
  • #1,183,849
  • Sep 12, 2020 6:50am Sep 12, 2020 6:50am
Quoting srby
{quote} As I mentioned in my previous post, it should be a trader's decision totally, whether to reveal his trade size/account size or not, and I fully respect a trader's decision. Struggling trader does not always mean a losing trader. There can be a struggle for a trader, who is much comfortable and winning with a 4 digit account, but unable to handle a proportional bigger sizes with a 5 digit account due to psychological factors. IMHO, observing a fellow trader who is handling a 5 digit or 6 digit account with ease can help him to learn and develop...
It's more than just account size.... It's many other things that affect you phycologically. Not just size of account. What a about FOMO.

Best thing to do is revise your trading system to remove emotion as best as possible. Then try to scale it up and modify it tweak it using paper trying until you are happy with results and based on you RR.

You remove emotion buy make your decisions automated. Meaning your entry and exit are based on math your RR is based on math.... At that option the emotion you you deal with just deal with but don't let it get you how to trade let the system you created tell you how to trade.
LOCK IN RE-ENTER
  • #1,183,850
  • Sep 12, 2020 6:54am Sep 12, 2020 6:54am
Quoting meugampong
{quote} imho ... if we see another and compared pair heading based on usd.. we can get a clue where will heading of for eur usd usd cad structure going up usd jpy with cot analysis going strong etc.. comparing with cot and with technical analysis giving us a clear bias..
U.S. DOLLAR INDEX (FUTURES ONLY POSITIONS AS OF 09/08/20)

Long: 13,453 Short: 19,211

CHANGES FROM 09/01/20

Long: -895 Short: -1883


These are uncertain numbers. You can't tell much about this.

Here is charts for USDCAD and USDJPY.

USDCAD good bullish move on 4HR but long term, Looking at COT reports, majority are short but they took off -6,615 of their sell positions.
USDJPY I would stay away from it as looking at daily and 4HR looks like in consolidation.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDCAD.xWeekly.png Size: 62 KB
Click to Enlarge Name: USDCAD.xDaily.png Size: 69 KB
Click to Enlarge Name: USDCAD.xH4.png Size: 80 KB
Click to Enlarge Name: USDJPY.xWeekly.png Size: 119 KB
Click to Enlarge Name: USDJPY.xDaily.png Size: 96 KB
Click to Enlarge Name: USDJPY.xH4.png Size: 77 KB
  • #1,183,851
  • Sep 12, 2020 6:59am Sep 12, 2020 6:59am
Quoting srby
{quote} As I mentioned in my previous post, it should be a trader's decision totally, whether to reveal his trade size/account size or not, and I fully respect a trader's decision. Struggling trader does not always mean a losing trader. There can be a struggle for a trader, who is much comfortable and winning with a 4 digit account, but unable to handle a proportional bigger sizes with a 5 digit account due to psychological factors. IMHO, observing a fellow trader who is handling a 5 digit or 6 digit account with ease can help him to learn and develop...
Also you can't trade like someone who has a higher risk tolerance than you... So watching someone who can risk 25k on trade they will trade different from you most likely

That's what gets most traders.... Big money can handle large swings in the market where you would get stopped out or a margin call.... That's The bull and bear trap you hear so often.
LOCK IN RE-ENTER
  • #1,183,852
  • Sep 12, 2020 7:04am Sep 12, 2020 7:04am
Quoting leashedmode
{quote} Risk and reward calculations are everything, going long or short isn't technical analysis.. In a bulls market, people make money going short and vice versa. As a matter of fact, anybody who's shorting the EURUSD this month has been doing the same.. and as you must have seen, many do it pretty well. Technical Analysis is about analyzing the asset, not a timeframe of the asset. Problem with most traders is they say trading is gambling yet they approach it like it's not, I would say you should know and get that fact etched into your brain that...
LOVE THAT
  • #1,183,853
  • Sep 12, 2020 7:07am Sep 12, 2020 7:07am
Quoting Techanalyst
{quote} U.S. DOLLAR INDEX (FUTURES ONLY POSITIONS AS OF 09/08/20) Long: 13,453 Short: 19,211 CHANGES FROM 09/01/20 Long: -895 Short: -1883 These are uncertain numbers. You can't tell much about this. Here is charts for USDCAD and USDJPY. USDCAD good bullish move on 4HR but long term, Looking at COT reports, majority are short but they took off -6,615 of their sell positions. USDJPY I would stay away from it as looking at daily and 4HR looks like in consolidation. {image} {image} {image} {image} {image} {image}
what a clear view my friend.. im agree with you.. much agree..

all we do now just waiting patienly.. drawing propabilities entry zone and i remember your chart eur usd about supdem.. price will coming back for high before it fall.. need consume some supply there..

for a short time.. bias is bullish..we cant say for long term bias .. because price not yet break 1.20100..

beware from trapping all my friend.. coz your SL is My Entry.. lol
  • #1,183,854
  • Sep 12, 2020 7:10am Sep 12, 2020 7:10am
Quoting leashedmode
{quote} See you may have another perspective, and your opinions.. I respect that. But in a decade of swimming in this market, one thing I can tell you for sure is that if a trader is focused on one's own or another's lot sizes and how much money another is making or they themselves could make.. sooner or later they will get into that 90% category of the traders who lose, and then brag about how the market is a lie, scam etc whatever.. It will only work out if you let the money be a byproduct of your skill, and your enthusiasm towards the market.....
I wish someone told me all that on beginning of my journey this is gold you understanding with experience.. and once you understand and accept that, you begin to grow as trader
  • #1,183,855
  • Sep 12, 2020 7:24am Sep 12, 2020 7:24am
Quoting Lamira
{quote} I wish someone told me all that on beginning of my journey this is gold you understanding with experience.. and once you understand and accept that, you begin to grow as trader
me.. my self journey.. 6 years learn and blooding.. blowing account in one day.. headache.. phase by phase.. and leashedmode said its really pure and true.
  • #1,183,856
  • Sep 12, 2020 8:01am Sep 12, 2020 8:01am
Quoting Lamira
{quote} I wish someone told me all that on beginning of my journey this is gold you understanding with experience.. and once you understand and accept that, you begin to grow as trader

I said the same thing to myself some years ago after I understood these principles.. like you said "and once you understand and accept that, you begin to grow as trader" .. exactly what happened to my journey in trading.. If you are able to grasp this you should really check out Mark Douglas on Youtube.. through him I was able to work on my psychology in a huge way and things literally took a turn for me all those years ago, otherwise I was usually struggling heavily even after picking the right trades for myself which was very annoying and damaging.
Seek, because knowledge is a boundary.. but ignorance is boundless- SJV
  • #1,183,857
  • Sep 12, 2020 11:29am Sep 12, 2020 11:29am
Quoting tradecode
{quote} i am blooding now.
call 911.. lol.. btw.. i send a message for you.
  • #1,183,858
  • Sep 12, 2020 12:25pm Sep 12, 2020 12:25pm
Attached Image
Only an idiot knows with certainty to where the market is going.
  • #1,183,859
  • Sep 12, 2020 12:56pm Sep 12, 2020 12:56pm
Simple algorithm. RVI indicator shows goign bullish, AO looks like it is crossing zero line, and MACD still under 0 line, the candles crossed 3 MA's, it is a signal to go bullish. But if you want to wait for MACD to aline and go above zero line, you can wait. Just an example of algorithm trading. Place your stop loss and take profit and there you go. This is daily chart. If you like to trade like this, you can pick and choose other indicators, I just put some of these together. Try to use one indicator for exiting positions. Meaning if you are in profit already and market start turning the other way, have an indicator to confirm where you are taking the profit.

This is algorithm trading.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADDaily.png Size: 102 KB
  • #1,183,860
  • Sep 12, 2020 1:12pm Sep 12, 2020 1:12pm
Quoting tradecode
{quote} if that is in fact algorithmic trading, as you say, then what is your current decision if you were to place a trade right now?
The magic indicators are showing up. So I would enter a buy if I was trading algorithm. That is in fact algorithm trading.

I will attach demand zone of same USDCAD daily but with a demand zone that was hit and going back up. In this one you take a buy once it bounces from demand zone.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADDaily(2).png Size: 85 KB
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