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  • #1,208,821
  • Jan 21, 2022 9:53am Jan 21, 2022 9:53am
Quoting ForexGoose
{quote} because the market is not logical and I'm not buying just to gamble on small time frame charts gambling is how money is lost quickly
sorry.
but the gamble is to open a position based on a simple moving average.
I'm sorry.
  • #1,208,822
  • Jan 21, 2022 9:57am Jan 21, 2022 9:57am
Short opened 1.1353. Tp for today 1.1322
  • #1,208,823
  • Jan 21, 2022 10:00am Jan 21, 2022 10:00am
Amazing resilience from EURUSD.
  • #1,208,824
  • Jan 21, 2022 10:23am Jan 21, 2022 10:23am
Quoting ForexGoose
I think shorting EUR/JPY could be attractive today. 131.5 level is too strong? {image}
Next week, I would consider selling EUR/JPY in the range between 130.5 and 128.5.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY_2022-01-21_11-21-02.png Size: 142 KB
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #1,208,825
  • Jan 21, 2022 10:29am Jan 21, 2022 10:29am
Quoting ForexGoose
{quote} Next week, I would consider selling EUR/JPY in the range between 130.5 and 128.5. {image}
You're assuming that it get's there next week - down before up!
...because you never know - until you do!
  • #1,208,826
  • Jan 21, 2022 10:36am Jan 21, 2022 10:36am
I would never open a position on eur / jpy alone.
only in hedge.
but that's my problem.
LOL.
  • #1,208,827
  • Jan 21, 2022 10:36am Jan 21, 2022 10:36am
Quoting tiborf71
{quote} sorry. but the gamble is to open a position based on a simple moving average. I'm sorry.
I follow technical and fundamental analysis for trend trading. Moving averages can indicate where to enter or exit a trade with profit or loss.

Gamblers just randomly trade without thinking and they lose their money quickly.
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #1,208,828
  • Jan 21, 2022 10:40am Jan 21, 2022 10:40am
Quoting ForexGoose
{quote} I follow technical and fundamental analysis for trend trading. Moving averages can indicate where to enter or exit a trade with profit or loss. Gamblers just randomly trade without thinking and they lose their money quickly.
DO IT.
unnecessary to say every word is simply unnecessary.
  • #1,208,829
  • Jan 21, 2022 10:41am Jan 21, 2022 10:41am
Quoting tiborf71
I would never open a position on eur / jpy alone. only in hedge. but that's my problem. LOL.
But I did open a position as shown in my last post on Jan 12 and I'm sitting on 200+ pips of profit. Gamblers don't understand that. They have no patience for trend trading.
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #1,208,830
  • Jan 21, 2022 10:49am Jan 21, 2022 10:49am
Quoting ForexGoose
{quote} But I did open a position as shown in my last post on Jan 12 and I'm sitting on 200+ pips of profit. Gamblers don't understand that. They have no patience for trend trading.
good luck for that.
maybe in the long run?
  • #1,208,831
  • Jan 21, 2022 10:50am Jan 21, 2022 10:50am
Quoting ForexGoose
{quote} But I did open a position as shown in my last post on Jan 12 and I'm sitting on 200+ pips of profit. Gamblers don't understand that. They have no patience for trend trading.
You know that you can day trade and NOT be a gambler?

Swing trading when there is a consistent trend is great but speaking for myself I "rarely" hold a position overnight and DEFINATELY not during weekends!
...because you never know - until you do!
  • #1,208,832
  • Jan 21, 2022 10:53am Jan 21, 2022 10:53am
Quoting ForexGoose
{quote} Gamblers don't understand that. They have no patience for trend trading.
Curious but what is YOUR definition of gambling?

This is from Wikipedia but I think it rings true: "Gambling (also known as betting) is the wagering something of value ("the stakes") on an event with an uncertain outcome with the intent of winning something else of value. Gambling thus requires three elements to be present: consideration (an amount wagered), risk (chance), and a prize.[1] The outcome of the wager is often immediate, such as a single roll of dice, a spin of a roulette wheel, or a horse crossing the finish line, but longer time frames are also common, allowing wagers on the outcome of a future sports contest or even an entire sports season."

Modify that for Forex and you have:

1. Amount to be wagered (margin)
2. Risk (duh!)
3. Prize - Profit goal.
...because you never know - until you do!
  • #1,208,833
  • Jan 21, 2022 11:01am Jan 21, 2022 11:01am
Quoting fxsport
{quote} You know that you can day trade and NOT be a gambler? Swing trading when there is a consistent trend is great but speaking for myself I "rarely" hold a position overnight and DEFINATELY not during weekends!
Maybe I am wrong, but I don't think ForexGoose is saying day trading is gambling. It appears he is saying its gambling when a person trades without thinking.
Learn from your mistakes and march on.
  • #1,208,834
  • Jan 21, 2022 11:07am Jan 21, 2022 11:07am
Quoting here2there
{quote} Maybe I am wrong, but I don't think ForexGoose is saying day trading is gambling. It appears he is saying its gambling when a person trades without thinking.
it looks like it only opens a position based on the moving average
average.
gambling. !!!!!!
LOL.
  • #1,208,835
  • Jan 21, 2022 11:18am Jan 21, 2022 11:18am
Quoting tiborf71
{quote} it looks like it only opens a position based on the moving average average. gambling. !!!!!! LOL.
no, I read a lot of about Forex and investing

https://www.fxstreet.com/news?q=&hPP...D%5B0%5D=Banks

banks also use moving averages in their analysis and they trade with billions of dollars
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #1,208,836
  • Jan 21, 2022 11:23am Jan 21, 2022 11:23am
Quoting here2there
{quote} Maybe I am wrong, but I don't think ForexGoose is saying day trading is gambling. It appears he is saying its gambling when a person trades without thinking.
if you think about it, day trading requires opening and closing positions every day

what sense does it make to open a position, get in a draw down, and then close it at the end of the day when the following day or week, the price reverses back to follow a trend?

alcoholics need to drink every day and gamblers need to gamble every day since they have an unhealthy habit
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #1,208,837
  • Jan 21, 2022 11:32am Jan 21, 2022 11:32am
Quoting ForexGoose
{quote} no, I read a lot of about Forex and investing https://www.fxstreet.com/news?q=&hPP...D%5B0%5D=Banks banks also use moving averages in their analysis and they trade with billions of dollars
if you think it works, use MA based trading.
good luck for that.
I have no intention of changing your faith.

your money!!!!!!!!
  • #1,208,838
  • Jan 21, 2022 11:34am Jan 21, 2022 11:34am
Quoting tiborf71
{quote} if you think it works, use MA based trading. good luck for that. I have no intention of changing your faith. your money!!!!!!!!
i trade based on probabilities

gamblers walk into a casino and gamble because they don't understand probabilities
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #1,208,839
  • Jan 21, 2022 11:35am Jan 21, 2022 11:35am
Attached Image (click to enlarge)
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  • #1,208,840
  • Jan 21, 2022 11:37am Jan 21, 2022 11:37am
Quoting ForexGoose
{quote} if you think about it, day trading requires opening and closing positions every day what sense does it make to open a position, get in a draw down, and then close it at the end of the day when the following day or week, the price reverses back to follow a trend? alcoholics need to drink every day and gamblers need to gamble every day since they have an unhealthy habit
The difference is some people are good at day trading and others aren't. Keep in mind it's not just EURUSD; there are many pairs to choose from.

Also, day trading doesn't necessarily mean a trader must close his position at the end of the day.
Learn from your mistakes and march on.
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