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  • #123,501
  • Jan 7, 2021 3:14am Jan 7, 2021 3:14am
Interesting situation now, and I can see how this trend line is correct: it starts to oscillate around the line now, not "knowing" where to go.
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  • #123,502
  • Jan 7, 2021 3:27am Jan 7, 2021 3:27am
123.6 Was Breached on Both Sides on Eur and Usd

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Thanks & Regards
  • #123,503
  • Jan 7, 2021 3:31am Jan 7, 2021 3:31am
Quoting four.owls
{quote} You're right,,,it is not good for a full time trader to be asking those things! I am just going through a bad patch, making silly mistakes, taking some hits (small hits admittedly) and re-evaluating myself, what I do and how I do it. I find the Al Brooks style of P.A motivating and really like his approach, I am a P.A trader, basically the classic PASR that Prozor himself espouses, I use no indicators, and usually make good calls, but don't stick around long enough from over thinking, the need to make an income and letting fear wiggle me...
Yes. I am not sure what you are finalising for ur trading system but TBH the issues normally is the psychology and risk control part. I mean I dunno your system but following the trend and cut ur losses short, let ur profits run is probably just the 2 things you need. Price action is probably tell u where to enter. Well, PASR might just be slow to react, good to ride the trend but probably will give profits back more. only good if it really breaks out.
  • #123,504
  • Jan 7, 2021 3:35am Jan 7, 2021 3:35am
Let's get back to the EURUSD. For me this H1 candle is cruxial for today. We are in a rising wedge, now it tries to break out downside. A clear bearish candle close outside the wedge could (!) be an indicator for a short correction down to the 1.225 area. If not: stay bullish. Or wait...
  • #123,505
  • Jan 7, 2021 3:41am Jan 7, 2021 3:41am
Inverse head shoulders pattern loading on 1hr. I expect bulls to kick in soon
Risk comes from not knowing what to do
  • #123,506
  • Jan 7, 2021 3:48am Jan 7, 2021 3:48am
Ok we're here. Let's see how H1 closes.
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  • #123,507
  • Jan 7, 2021 3:48am Jan 7, 2021 3:48am
Quoting Austyno
Greetings My buy limit of yesterday didn't activate, and i wasn't on my system to adjust it, feeling sick , anyways I have another buy limit @ 1.22782, sl 50 pips as usual tp 1.23380 Caution: we couldn't take out yesterday's high for now so bears might seem to have upper hand until the buy limit is activated
Active
Risk comes from not knowing what to do
  • #123,508
  • Jan 7, 2021 3:54am Jan 7, 2021 3:54am
Bears have upper hand now... I will look to dump this trade with a little profit and look for selling opportunities
Risk comes from not knowing what to do
  • #123,509
  • Jan 7, 2021 4:05am Jan 7, 2021 4:05am
Waiting for another H1 to fully confirm a divergence. If it remains, then I'll consider a LONG.
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  • #123,510
  • Jan 7, 2021 4:07am Jan 7, 2021 4:07am
Quoting Austyno
Bears have upper hand now... I will look to dump this trade with a little profit and look for selling opportunities
80plus might be a good spot
Fundamental provide Volume, Technical shows Direction
  • #123,511
  • Jan 7, 2021 4:09am Jan 7, 2021 4:09am
Quoting four.owls
{quote} Good morning Ata! Thanks for your daily input and analysis! I am in the process of examining your '10pips strategy' that you regularly use. Quick question, do you mainly just trade the EU? I am finalizing my trading system, and I have been advised by some to just focus on no more than 6 pairs, or even just 1 or 2. Others however have advised to watch about 30 pairs to get enough opportunities (I am a fulltime trader). Just wanting any advice on this to maximize my chances of survival! Also, do you trade during the Asian session? Thanks,...
Hi.. I just noticed your message.. Sorry for the delay!

How many pairs you trade depends on your "money management" logic.. Classic "Stock" traders are generally afraid of manipulation and therefore came up with that saying" don't put all your eggs in one basket". Also.. some stocks can stay heavily idle for long times and you have to switch to another asset. All the book logic comes actually from stock trading and not directly from forex trading. SO.. long story short: Forex is a totally different world.. My opinion on this is as follows:

  1. Forex traders who use a robot for trading might use as many pairs as they want since they can build many different ways and strategies to deal with many different pairs.. If so yes, trading multiple pairs is okay..
  2. Forex traders who trade manually should stick to 3 main pairs tops.. I would pick the cheapest and most traded pairs if I had to.. But it still will eat your focus and energy..
  3. I personally stick to 1 pair only. 100% focus.. 100% energy.. and if this pair becomes idle so be it, then I can take a rest as well.. So much better for my health.. We don't need to trade each and every day.. Enjoying life is also part of trading, never forget that..
  4. Sessions that I trade are London and NY.. I trade the Asian session rarely.. very very rarely..

I hope it helps.. Cheers

Stay Green

Focus only on what truly matters!
  • #123,512
  • Jan 7, 2021 4:12am Jan 7, 2021 4:12am
Quoting Ata-Turkoglu
{quote} Hi.. I just noticed your message.. Sorry for the delay! How many pairs you trade depends on your "money management" logic.. Classic "Stock" traders are generally afraid of manipulation and therefore came up with that saying" don't put all your eggs in one basket". Also.. some stocks can stay heavily idle for long times and you have to switch to another asset. All the book logic comes actually from stock trading and not directly from forex trading. SO.. long story short: Forex is a totally different world.. My opinion on this is as follows:...
Very Well Said Ata

I personally stick to 1 pair only. 100% focus.. 100% energy.. and if this pair becomes idle so be it, then I can take a rest as well.. So much better for my health.. We don't need to trade each and every day.. Enjoying life is also part of trading, never forget that..

  • #123,513
  • Jan 7, 2021 4:27am Jan 7, 2021 4:27am
Based on M15 I have 1.2217 as next bouncing spot.. Until then I keep selling and stay short.. 1.2276 is main resistance for now..

*Daily crucial S/R level is: 1.2273 and it is also the breaking point of a rising wedge.. (If it breaks market can become extremely bearish)

Stay Green
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Focus only on what truly matters!
  • #123,514
  • Jan 7, 2021 4:29am Jan 7, 2021 4:29am
Now my TARGET area becomes a BUY zone for me.
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  • #123,515
  • Jan 7, 2021 4:32am Jan 7, 2021 4:32am
With that I want to see this to unfold as well. And I'd like to see that to happen within the next 2-3 hours, otherwise I will not enter.
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  • #123,516
  • Jan 7, 2021 4:37am Jan 7, 2021 4:37am
On a HTF everything stays the same, because yesterday's candle did NOT close above my level.
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  • #123,517
  • Jan 7, 2021 4:42am Jan 7, 2021 4:42am
will this TL break continue??
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TMT Scalping System (Best system on FF)
  • #123,518
  • Jan 7, 2021 4:49am Jan 7, 2021 4:49am
the end?
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  • #123,519
  • Jan 7, 2021 4:57am Jan 7, 2021 4:57am
Quoting Ata-Turkoglu
{quote} Hi.. I just noticed your message.. Sorry for the delay! How many pairs you trade depends on your "money management" logic.. Classic "Stock" traders are generally afraid of manipulation and therefore came up with that saying" don't put all your eggs in one basket". Also.. some stocks can stay heavily idle for long times and you have to switch to another asset. All the book logic comes actually from stock trading and not directly from forex trading. SO.. long story short: Forex is a totally different world.. My opinion on this is as follows:...
Thanks Ata for your kindness and advice. I really do like that idea, but maybe I would do EU, GU (hmmm?) Bitcoin (or Gold if brave enough)...
I want to get so good and comfortable with 1-3 pairs that my trading really shows this knowledge and understanding. I am a manual PA trader, and yes I will avoid the Asian sessions from now...just took a nice stupid loss from a trade during this session....
Really appreciate your help, and I will be doing revision and chart time all day tomorrow as I examine my final pair/s (1-3)...
Regards Andy!
  • #123,520
  • Jan 7, 2021 5:04am Jan 7, 2021 5:04am
Quoting andvk74
On a HTF everything stays the same, because yesterday's candle did NOT close above my level. {image}
True, but we need a retrace to at least 1.23300 to allow those that bought to get out of their longs and switch to shorts
Risk comes from not knowing what to do
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