Trading Made Simple

GBPAUD Aug 10 Tokyo Open Update:

- nothing much happened last week as the market consolidation ... so I waited!

- with one open basket and a few open positions floating losses... try not to give back too much from previous weeks

- we shall see what will happen this week and whether GBP will strengthen against the AUD.

GBPAUD Aug 10 TMS_V19 Information EA

- with the Daily DIB and yesterdays' breakout, will it run higher to the recent high?

- it will take a lot of pull back to change the Weekly Trend 2/8 to sideways....

- note the H4 TDI narrowing VB and the MBL near 50-level can be of concern for H4 traders.

- therefore as a swing trader I remain on the bullish buyers side.

AUDUSD Aug 10 TMS_V19 information EA

- looking at AUDUSD, this may help see the weakness of the AUD and help GBPAUD.

Eurusd H1

There are three varieties of idiots in the market you're likely to encounter during your trading career. Contemplating the above truth from the great site of Despair, I thought I'd give you a heads up, so you can avoid these laggards in the great Darwinian race. You see, social success is not so different from trading success: you ride your winners and dump your losers. And, trust me, these three are not ones you want to ride:

1) Idiot #1: The True Believer - You've probably encountered at least one of these dolts during your market sojourns. They are the ones who have figured out the answer to the market. Not an answer, mind you. *The* answer. It usually is some kind of numerological or astrological scheme, and it is always a hidden secret. Unfortunately, True Believers don't seem content with keeping their knowledge hidden. They're always after you to "unlock the mysteries" of the market by sharing in their discoveries. A surprising number of True Believers are also True Bears, which means that they're forever predicting the end of the financial universe as we know it. They predicted it in 1980, 1990, 2000, and they're still predicting it. And when the market rallies and proves them wrong? Well, that just means the bubble is getting even bigger and the implosion of the universe will be even more profound. My take on True Believers? This is not investing or trading; it's cultism. And true believers are at the point where they *have* to believe, or they'd come face to face with the awful realization of the utter waste of time and money their beliefs have brought, as the Dow has risen from 775 to over 12,000 within a 25-year period.

2) Idiot #2: The Gambler - This is the "I'm-giving-up-my-job-tobecome-a-trader-because-I-don't-like-working-9-to-5" idiot. Observe that this bottom-dwelling resident of the phylogenetic scale is not giving up his job because he's had success at trading. He's also not giving up his career because he so loves trading that he researches it day or night and has found a winning edge. No, The Gambler doesn't do anything beyond 9-to-5, because what he's after are easy riches, not effort and earned success. He hears that others have been successful (usually from Idiot #3), and he figures, "That means I can do it too". Invariably, the Gambler is attracted to daytrading. Why? It gives him a sense of action, and it justifies his decision to abandon all efforts at productive work. Besides, you can't really explain to your wife and kids why you're not out there with working humanity supporting your household when you're sitting around doing nothing, holding positions for weeks at a time. So the Gambler actively trades in and out of markets, pretends like he’s got a job, and every so often berates his spouse when she wonders when the family will be able to pay its bills. My take on Gamblers? They're not interested in trading; they're interested in their fantasy. So interested that they'll take their bank accounts and families down with them.

3) Idiot #3: The Self Promoter - It's easy to find the Self-Promoters. By their very nature, they're in your face hawking their wares, lauding their recent market calls, and promising easy trading success. Open any trading magazine and you'll see their well-coiffed, grinning idiot faces leering at you, usually as part of a trading "event" that just happens to be selling all their products. The key to recognizing SelfPromoters is that they promote themselves, not ideas or methods. Indeed, a substantial number of them don't trade. Those include the "Trading Coaches" who promise to improve your confidence, but offer no concrete trading guidance that you could ever feel confident in. They also include the "Gurus" who tout simple chart patterns and indicators, carefully avoiding any possible objective testing of their wonderful setups. Self-Promoters never talk about how hard it is to achieve trading success; that would not sell well, especially among The Gamblers. Instead, they borrow their pitches from the "no money down" real estate guys and tell you how easy it will be to succeed with no capital. My take on Self Promoters? I don't mind people who deceive others; they're merely dishonest. It's the ones that deceive themselves that frighten me. That's when dishonesty becomes delusion. So there you have it: a rogue's gallery of trading idiots. Once you tune your mind to this threefold taxonomy, you'll have no problems at all recognizing them within moments of their opening their mouths. And, if you want to be happy, you'll follow the advice of literary critic Dorothy Parker and not toss these idiots aside lightly. Rather, you'll hurl them with great force.

According to the Author. Davit, Your the Definitions of Idiot.

Some Insights on Nasdaq today.
This is a mirrored chart, so we actually bought here while ''shorting''.

UsdChf Aug 11 Daily chart trade Update: Tokyo Open 9am

- keep my TSL at +2R level with profit locked and wait will FO/LO today.

- news/event calendar today!

GU Aug 10 review:

- the market again hit the daily highs twice before continuing

- today is sell limit and get better average sell price

thank you so much for the time and effort of sharing your thoughts, expertise, and experiences.
i am a newbie in this field. while i am reading you inspired me a lot to pursue what I've started in this field. and likewise, i am hunger for success too. but first, i will navigate and read to discover all your posts as heartily given.

This trade works for you very well
I don't trade usdCHF but I trade UJ.

I am in GU sell

Did you consider recently weekly up candle as a control candle ? why and why not.

Gold M1 trade.
Be All-Rounder, Day trade, Scalping trade, and swing trade. Stress free trading is H4 and D1 chart trading.
LTF trading is always add risk in your trading account.

EG Are you sell this ?

Us Open done the work UC, EU got stopped out.

Which indicator is that.....showing the shadow???

How to get rid of this problem???

EMA

Gold will move lower it is very old signal. I have mentions it here in FF.
BTW did you follow WCC and 61.8% POBO.
If any one know the setup and wait for good entry they probably can get 1 to 20 RR from this trade.

Long term swing is over now come Day swing. Plan next day Swing, In the mean time scalping the market every day, Quick in quick out. Just play the momentum, when Momentum lack stop. Nothing to lose.

In scalping people get very nervous because they don't have Big picture in their mind.
I saw few people here in FF teach check FF calendar that is fundamental analysis. I have nothing to say about those people. Checking calendar is good but -------------- ( Let them figure it out)
Taking reversal trade from Daily ADR high and Low; Taking reversal from Pivot Level this are just gambling. You will be right and you will be wrong. Having big stop so that SL don't hit this is just a gambling.

Let's discuss what will be our next plan of actions.

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