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Trading 101

  • #481
  • Nov 18, 2021 5:56am Nov 18, 2021 5:56am
Quoting pips29
{quote} It may or may not work but my preference is to short higher up ,say 1.4345-1.4355
Yes, that is a possibility. I will take a new sell entry if it turn higher up.
  • #482
  • Nov 18, 2021 6:11am Nov 18, 2021 6:11am
Quoting kirinda
{quote} Yes, that is a possibility. I will take a new sell entry if it turn higher up.
very true, it's just a possibility and I feel better emotionally if I went short there, and emotion counts a lot when trading imo, anyway here's the chart.,just to let you know there's no right or wrong in trading only wins or losses
Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD.rDaily.png Size: 65 KB
the cautious seldom err....C
  • #483
  • Nov 18, 2021 6:16am Nov 18, 2021 6:16am
I'm in this long a short while ago..
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM15.png Size: 63 KB
the cautious seldom err....C
  • #484
  • Nov 18, 2021 6:22am Nov 18, 2021 6:22am
Quoting pips29
{quote} very true, it's just a possibility and I feel better emotionally if I went short there, and emotion counts a lot when trading imo, anyway here's the chart.,just to let you know there's no right or wrong in trading only wins or losses {image}
I working on making my trading system as mechanical as possible to avoid emotion when I'm trading. I was commenting on hasib question but I do not use the information about the resistance my self. I only care about the trend indicator on 4H, the entry indicator on 30M, that I have a retracement on 4H (use HA candles for this), and that I do not trade into a level. To exit I also use an indicator. In this way my emotion is low, and only a few things to consider before entry.
  • #485
  • Nov 18, 2021 6:32am Nov 18, 2021 6:32am
Quoting kirinda
{quote} I use the 4H for trend and 30M for entry. Sell because 4H trend is down, and we have had a retrace back to a solid resistance. I got sell on 30M indicator so I have already in a sell position. I know it my continue upwards because the EUR have been weak so far this week at we may soon get a retrace or reversal on EURGBP (EUR get stronger). But as long as the winning % is above 50 and the winners are larger than the looses is not a problem.
Hi Kirinda

I can see Eurcad break below the level and now it is touching previous level, It is obvious that selling with a small stop is good idea how ever I don't see any selling momentum(H1 chart) in EC right now. I can see market slow down, If price break above 1.43 area we could buy for 20 to 30 pips or even more we will tell our self that move down is false break out.
Here comes to fundamentals, Fundamentals is only leading information, not any technical level or indicator. So far we know oil is slow down and Cad should be strong Sooner or letter, EUR is weak there are several fundamental reason for that.
BTW price is below 200 hours moving average too. In my view either we should stay sideline or sell, there is not buy I see in my chart. I will no buy EC, if price go up I will sell from up, You know we don't have to trade every single swing of the market.

I personally like to trade dominant swing of the market that is why I don't like pivot or I don't like to trade corrective swing of the market. To trade impulsive move of the market requires market understanding and firm convictions of the market over all directions. Fundamentals helps to grow strong directions bias.
Most importantly trading impulsive move of the market obvious and simple but we like to complicate our trading opening too many trade and too many ideas.
MA provides the market's current direction and strength.
  • #486
  • Nov 18, 2021 6:37am Nov 18, 2021 6:37am
Quoting kirinda
{quote} I working on making my trading system as mechanical as possible to avoid emotion when I'm trading. I was commenting on hasib question but I do not use the information about the resistance my self. I only care about the trend indicator on 4H, the entry indicator on 30M, that I have a retracement on 4H (use HA candles for this), and that I do not trade into a level. To exit I also use an indicator. In this way my emotion is low, and only a few things to consider before entry.
Trading level is not a problem there are many big traders are trading levels, yes many Quant traders don't like levels at all some quant traders use level too. So there is nothing wrong level trading.

Another point is my sentiment indicator told 72% of the traders are buying EC, You know most of the time most of those traders lose money.
MA provides the market's current direction and strength.
  • #487
  • Nov 18, 2021 6:38am Nov 18, 2021 6:38am
Quoting kirinda
{quote} I working on making my trading system as mechanical as possible to avoid emotion when I'm trading. I was commenting on hasib question but I do not use the information about the resistance my self. I only care about the trend indicator on 4H, the entry indicator on 30M, that I have a retracement on 4H (use HA candles for this), and that I do not trade into a level. To exit I also use an indicator. In this way my emotion is low, and only a few things to consider before entry.
it would be nice if you post the chart
the cautious seldom err....C
  • #488
  • Edited 7:07am Nov 18, 2021 6:42am | Edited 7:07am
don't know if this M1 trade will work or not..I was looking at dxy index and yesterday's candle looks like a shooting star to me
EDit: stopped out, small loss
Attached Image(s) (click to enlarge)
Click to Enlarge Name: XAUUSD.rM1.png Size: 54 KB
Click to Enlarge Name: USDX.rDaily.png Size: 37 KB
the cautious seldom err....C
  • #489
  • Edited 7:48am Nov 18, 2021 7:36am | Edited 7:48am
Quoting pips29
{quote} it would be nice if you post the chart
Ok here are som picture that show what I'm talking about.

EDIT:
I have a typo in the first figure: Start looking for sell opportunities on 4H when we got at least on solid blue HA candle against the trend
The correct sentence is: Start looking for sell opportunities on 30M when we got at least on solid blue 4H HA candle against the trend

Attached Image (click to enlarge)
Click to Enlarge Name: AUDCADH4.png Size: 76 KB
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCADM30.png Size: 50 KB
  • #490
  • Nov 18, 2021 8:14am Nov 18, 2021 8:14am
Quoting pips29
don't know if this M1 trade will work or not..I was looking at dxy index and yesterday's candle looks like a shooting star to me EDit: stopped out, small loss {image} {image}
Us session gold and us30 scalping
MA provides the market's current direction and strength.
  • #491
  • Nov 18, 2021 8:20am Nov 18, 2021 8:20am
Quoting kirinda
{quote} Ok here are som picture that show what I'm talking about. EDIT: I have a typo in the first figure: Start looking for sell opportunities on 4H when we got at least on solid blue HA candle against the trend The correct sentence is: Start looking for sell opportunities on 30M when we got at least on solid blue 4H HA candle against the trend {image}{image}
very unique way of trading kirinda but just looking at H4 I notice if you trade the break of your trend indicator (at candle close) you can make some money too
the cautious seldom err....C
  • #492
  • Nov 18, 2021 8:34am Nov 18, 2021 8:34am
Quoting pips29
{quote} very unique way of trading kirinda but just looking at H4 I notice if you trade the break of your trend indicator (at candle close) you can make some money too
Then you have 4H as entry timeframe, and then you can use daily as trend timeframe.
  • #493
  • Nov 18, 2021 8:54am Nov 18, 2021 8:54am
Quoting kirinda
{quote} Then you have 4H as entry timeframe, and then you can use daily as trend timeframe.
I mean just trading one tf like the H4 and not bothered with another tf..you should know better ,it's your indicator and you must have tested over and over again
the cautious seldom err....C
  • #494
  • Edited 9:12am Nov 18, 2021 8:58am | Edited 9:12am
Quoting pips29
I'm in this long a short while ago.. {image}
closing a couple off and moving the trade to b/e
EDit: decided to close the remainder
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM15.png Size: 63 KB
the cautious seldom err....C
  • #495
  • Nov 18, 2021 9:09am Nov 18, 2021 9:09am
Chris lori, you probably know him and his style of trading.
those who don't know enjoy.

Inserted Video
MA provides the market's current direction and strength.
  • #496
  • Nov 18, 2021 9:14am Nov 18, 2021 9:14am
Au Second sell trade in us session. 1st on took 10 pips with big lot.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20211118-211313_cropped.png Size: 118 KB
MA provides the market's current direction and strength.
  • #497
  • Nov 18, 2021 9:16am Nov 18, 2021 9:16am
I have just gone short
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDDaily.png Size: 67 KB
the cautious seldom err....C
  • #498
  • Nov 18, 2021 9:18am Nov 18, 2021 9:18am
gone short now with another pending slightly higher up
Attached Image (click to enlarge)
Click to Enlarge Name: EURCADDaily.png Size: 66 KB
the cautious seldom err....C
  • #499
  • Nov 18, 2021 9:55am Nov 18, 2021 9:55am
Quoting pips29
gone short now with another pending slightly higher up {image}
no pending now, all triggered
Attached Image (click to enlarge)
Click to Enlarge Name: EURCADDaily.png Size: 68 KB
the cautious seldom err....C
  • #500
  • Nov 18, 2021 9:55am Nov 18, 2021 9:55am
Today I lost few trade in gu because of miss timing.
It is coming down
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20211118-215310_cropped.png Size: 270 KB
MA provides the market's current direction and strength.
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