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  • #1,202,061
  • Nov 1, 2021 1:17pm Nov 1, 2021 1:17pm
Added another short from here guys. Taking advantage of the pullback Tomorrow will be a good one with BoJ and RBA meetings, i expect some volatility overall in the market.
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  • #1,202,062
  • Nov 1, 2021 1:58pm Nov 1, 2021 1:58pm
Quoting Nordling00
Added another short from here guys. Taking advantage of the pullback Tomorrow will be a good one with BoJ and RBA meetings, i expect some volatility overall in the market.
I flipped a couple of times when my tight trail stops was hit. I didn't get any in shorting. It is best to keep following until we see a sign of bearish continuation.
Only an idiot knows with certainty to where the market is going.
  • #1,202,063
  • Nov 1, 2021 2:10pm Nov 1, 2021 2:10pm
Quoting MrBullBear
{quote} I flipped a couple of times when my tight trail stops was hit. I didn't get any in shorting. It is best to keep following until we see a sign of bearish continuation.
You are probably right but it is always tempting to short something when it's at the day's high and when you think that it will go down. That's also why i have opened a bit too much trades and i may have abused the leverage a bit Especially on EURSEK and USDJPY. I act a little irresponsible sometimes i admit it
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  • #1,202,064
  • Nov 1, 2021 2:15pm Nov 1, 2021 2:15pm
How anybody can make money trading FX is beyond me...
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  • #1,202,065
  • Nov 1, 2021 2:46pm Nov 1, 2021 2:46pm
Quoting Nordling00
{quote} You are probably right but it is always tempting to short something when it's at the day's high and when you think that it will go down. That's also why i have opened a bit too much trades and i may have abused the leverage a bit Especially on EURSEK and USDJPY. I act a little irresponsible sometimes i admit it
Yeah it is tempting especially you rely more on fundamentals. But you are young and smart. Observe more... you will realize it soon.
Only an idiot knows with certainty to where the market is going.
  • #1,202,066
  • Nov 1, 2021 3:02pm Nov 1, 2021 3:02pm
Quoting MrBullBear
{quote} Yeah it is tempting especially you rely more on fundamentals. But you are young and smart. Observe more... you will realize it soon.
Thank you MrBullBear, it means a lot. I think i also started to see clues on the chart besides the fundamentals. Especially before the news events, i see pullbacks that kinda signals me that the event is gonna be bullish/bearish (at least it shows the market's expectations?) and also i guess some hours in the Asian session also kinda signals me if that day is going to bullish/bearish before London and New York opens. But these are just my little observations and i can't claim that they work yet, i just started seeing them slightly after 3.5 years
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  • #1,202,067
  • Nov 1, 2021 3:50pm Nov 1, 2021 3:50pm
Quoting Nordling00
{quote} Thank you MrBullBear, it means a lot. I think i also started to see clues on the chart besides the fundamentals. Especially before the news events, i see pullbacks that kinda signals me that the event is gonna be bullish/bearish (at least it shows the market's expectations?) and also i guess some hours in the Asian session also kinda signals me if that day is going to bullish/bearish before London and New York opens. But these are just my little observations and i can't claim that they work yet, i just started seeing them slightly after...
To help you speed up your learning curve, ask yourself a question: Do market act positively in accordance with fundamentals? Why experienced traders turned to be purely technicals? Are there technical indicators we can use looking forward that gives consistent results? Answer it your self then build a method on your own.
Only an idiot knows with certainty to where the market is going.
  • #1,202,068
  • Nov 1, 2021 4:08pm Nov 1, 2021 4:08pm
Quoting MrBullBear
{quote} Yeah it is tempting especially you rely more on fundamentals. But you are young and smart. Observe more... you will realize it soon.


Well ... he might be young.
  • #1,202,069
  • Nov 1, 2021 4:38pm Nov 1, 2021 4:38pm
Quoting Nordling00
{quote} You are probably right but it is always tempting to short something when it's at the day's high and when you think that it will go down. That's also why i have opened a bit too much trades and i may have abused the leverage a bit Especially on EURSEK and USDJPY. I act a little irresponsible sometimes i admit it
My trail stops is about to get hit... I may flip as soon as it gets hit.
Only an idiot knows with certainty to where the market is going.
  • #1,202,070
  • Nov 1, 2021 4:51pm Nov 1, 2021 4:51pm
Quoting MrBullBear
{quote} To help you speed up your learning curve, ask yourself a question: Do market act positively in accordance with fundamentals? Why experienced traders turned to be purely technicals? Are there technical indicators we can use looking forward that gives consistent results? Answer it your self then build a method on your own.
Let me answer these questions

1. I really think so. Sometimes with few day delays but yes. Fundamentals never disappointed me yet. Of course i had some losing trades, but not because fundamentals were wrong. I just got them wrong and ended up in loss. After studying my losses, i also found my answers. Fundamentals helped me earn hundreds of pips worth of trends. I started trading when i was 18 so it's been around 3 years and i have lost a lot of money (for a 18 y.o boy from Turkey) in the first 2 years but now i almost covered everything in one year. Quite consistently as well. There's still room for improvement of course. I don't think that can be a coincidence. Hundreds of pips, weeks and even months long trends in different times, different pairs etc.

2. I don't know any experienced traders tbh. Of course i don't count Youtubers. So i can't tell if pros are doing fundamentals or technicals or both. I have a guess but it's not a fact so it can't be an objective answer to this question

3. I have tried hundreds of technical indicators in my first two years. Hundreds of indicators and hundreds of their combinations. And i really tried hard for that. I remember the times i used to sleep for 2 hours and going to high school because i used to study the charts and indicators until the late hours. I was probably working on that 8-10 hours a day. But it never worked for me. I was consistently losing money and time.

And the worse thing is, i once created a system with an awesome win rate. Relying on technicals and supply demand zones. If i am not mistaken i took 70-80 trades with that strategy and had a win rate of 80-90% but it really had an awful risk management. Almost no stops. So even if i win 9 times out of 10, that 10th trade still made me go back to where i started. I couldn't have used a sl as well because that system just couldn't let me. It was a weird one.

And the WORST thing is, until that "rare losing trades" everything was going so good, my account was doubling so quick that i started giving promises to my girlfriend (ex) about even if i move to another city for university i will be able to visit her often. And maybe she can even move in with me. I was 19 and she was 23 back then. She graduated from uni and i graduated from high school. Guess what, system failed, i couldn't visit her as often as i promised and she left me. D*mn i still miss that girl so much, she was so pretty and smart.

Sorry for too much personal details but yeah overall this is my journey of forex and this is the drama i went through with technicals
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  • #1,202,071
  • Edited 5:35pm Nov 1, 2021 5:24pm | Edited 5:35pm
Quoting Nordling00
{quote} Let me answer these questions 1. I really think so. Sometimes with few day delays but yes. Fundamentals never disappointed me yet. Of course i had some losing trades, but not because fundamentals were wrong. I just got them wrong and ended up in loss. After studying my losses, i also found my answers. Fundamentals helped me earn hundreds of pips worth of trends. I started trading when i was 18 so it's been around 3 years and i have lost a lot of money (for a 18 y.o boy from Turkey) in the first 2 years but now i almost covered...
If you found fundamental works then good for you! Go on and prosper. But sorry... i won't believe that.

If fundamental works, then financial institutions who has all the resources, money, manpower and position will take advantage of it and there will no money left for us.
Only an idiot knows with certainty to where the market is going.
  • #1,202,072
  • Nov 1, 2021 5:49pm Nov 1, 2021 5:49pm
Quoting MrBullBear
{quote} If you found fundamental works then good for you! Go on and prosper. But sorry... i won't believe that. If fundamental works, then financial institutions who has all the resources, money, manpower and position will take advantage of it and there will no money left for us.
A lot of time, fundamental acts as a catalyst, but we usually need to be “onboard” before it happens …
Market is not random but unpredictable
  • #1,202,073
  • Nov 1, 2021 5:54pm Nov 1, 2021 5:54pm
1.15967 is a possible long re-entry for me. just not feeling it. so far it is holding and is valid.
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In tea leaves we trust!
  • #1,202,074
  • Nov 1, 2021 5:57pm Nov 1, 2021 5:57pm
pro's use both. they might not be versed with fundies but they have access to someone who can. as a trader one should have knowledge of both.

as i have said before ta just reflects fa on a longer term basis. only issue is da big boyz have access to fundie info long before retail.
In tea leaves we trust!
  • #1,202,075
  • Nov 1, 2021 6:12pm Nov 1, 2021 6:12pm
Quoting 4for4
{quote} A lot of time, fundamental acts as a catalyst, but we usually need to be “onboard” before it happens …
Movement happening right at the very moment of what ever positive or negative happening in everything that affects the currency just before the data release and still affects long after the data release and to the next data release and so on and onwards.. a never ending merry go round up and down and the balances even big financial institutions can only measure as much as they can and some traders during data release, wonders, how come market do the opposite? Sometimes it follows, sometimes not. Just like technicals, sometimes right, sometimes wrong.
Only an idiot knows with certainty to where the market is going.
  • #1,202,076
  • Nov 1, 2021 6:30pm Nov 1, 2021 6:30pm
Quoting Nordling00
{quote} Let me answer these questions 1. I really think so. Sometimes with few day delays but yes. Fundamentals never disappointed me yet. Of course i had some losing trades, but not because fundamentals were wrong. I just got them wrong and ended up in loss. After studying my losses, i also found my answers. Fundamentals helped me earn hundreds of pips worth of trends. I started trading when i was 18 so it's been around 3 years and i have lost a lot of money (for a 18 y.o boy from Turkey) in the first 2 years but now i almost covered...

Fundamentals always works, I mean it brings liquidity. Not the expected direction sometimes though. And I need liquidity to make profit, when a central bank/fed announce/release something I always wait for it. I look for false movement and then decide the direction of trade.
My winning ratio is 80:20 and profit/loss ratio 75:25 more or less.
Try the simple and make it for you ~
  • #1,202,077
  • Nov 1, 2021 7:15pm Nov 1, 2021 7:15pm
Fundamentals drive the market---the route the drive makes (to realize the fundamentals ) is defined by technicals. Example: If Iwas standing in ' Times Square , NYC and I asked someone "How do i get to Califonia "and the answer was ----"Just keep driving west,you'l get there eventually----ofcourse fundamentally correct ----But if someone else said---Get to I80 going west pick up the PA turnpike into the ohio turnpike ect,ect (not the bext route) that person was giving me the technicals I needed to make tthe fastest and easiest trip---Obviously you need both to get to your destination--you can trade techs alone and be profitable---to trade fundamentals alone you need very deep pockets and a strong stomach
  • #1,202,078
  • Nov 1, 2021 7:17pm Nov 1, 2021 7:17pm
Quoting MrBullBear
... a never ending merry go round up and down ...
Isn’t that the only thing market can do? Trending up and down alternately ...
Learn to categorize each swing as impulse or corrective wave ...
Market is not random but unpredictable
  • #1,202,079
  • Nov 1, 2021 7:26pm Nov 1, 2021 7:26pm
Quoting 4for4
{quote} Isn’t that the only thing market can do? Trending up and down alternately ... Learn to categorize each swing as impulse or corrective wave ...
Yes, that is how we make
We create a method out of it.
Only an idiot knows with certainty to where the market is going.
  • #1,202,080
  • Nov 1, 2021 7:31pm Nov 1, 2021 7:31pm
Quoting MrBullBear
{quote} Yes, that is how we make We create a method out of it.
Trading is easy once we know what to wait for and what to adhere to ... (patience and discipline)
Market is not random but unpredictable
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