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New Cable Thread & Other Pairs

  • #7,721
  • Jul 19, 2024 4:37am Jul 19, 2024 4:37am
Im sidelined with Crowdstrike and Microsoft issues shutting down my platform.
International issues affecting many.5 hours so far and counting.
A good exercise in overcoming FOMO and letting your positions run....
Pleased it want yesterday though...!
Its all just one persons opinion
  • #7,722
  • Jul 19, 2024 4:40am Jul 19, 2024 4:40am
Quoting pedro319
I cannot focus on EURUSD only if you guys don't stop talking about moving averages, for God sake !!
Observation is the path to discovery.
  • #7,723
  • Jul 19, 2024 4:40am Jul 19, 2024 4:40am
Quoting Alorente
{quote} I spot it early by using three MAs. I use the 10 EMA (White), 20 EMA (Orange) and 49 LWMA Green. When they cross and the 10 begins to steepen, I enter. I actually use the M30 charts for most pairs, but depending on the volatility of the pair you may have to change that. Here is the M30 chart on Gold. Look at where they crossed: 2462. Check that the 10 EMA is steep and enter. If you are extra cautious, wait for price to return to the 10 EMA and enter then. If during the ride, price separates a lot from the 10 EMA, you can close and reenter...
4hr chart orange is 10 green is 20. The trading system i use puts a plus sign there when it crosses. Using your method we could potentialy enter a short at point price kisses that 10 orange ema?
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  • #7,724
  • Jul 19, 2024 4:41am Jul 19, 2024 4:41am
Quoting Alorente
{quote} I used to use simple MAs but in reading great traders stories, I learned that the EMA follows price even closer so I switched. The key to trading is to stay out of non trending markets. You will consistently lose money. Once you convince yourself to trade only strong trends and apply the 10 EMA, everything gets much easier and the money starts to grow the account.
as a daytrader, hardcore scalper, etc...i can also win in a sideway market. i dont need a trend. i just need to know when is a swing or a trendday;-)

in my small GU daytrader world i identified 75% trenddays and 25% swingdays. and thats all for me i have to know.
trading is like dancing, don't think and just listen to the music!
  • #7,725
  • Jul 19, 2024 4:44am Jul 19, 2024 4:44am
Quoting GOR
{quote} Still holding, 0.3 pip LOL , the harder it is, the bigger the profit, I will retaliate with a bigger TP! double or nothing, {image}
I closed everything, I don't leave open orders at the weekend and I certainly don't feel like giving profits back,
S&Rs +I'm not sure about the effect of the global tech glitch that could bounce gold back up,
It was a great run ,
Time to enjoy the weekend,
'In the clearing stands a boxer And a fighter by his trade..'
  • #7,726
  • Jul 19, 2024 4:52am Jul 19, 2024 4:52am
On the MA discussion, I will often use Ma's 20 and 8 as a confidence booster (extra confluence) on a 30minute chart.
I like empty charts but will often still have an MA or 2....I will adjust the period for different pairs and time frames based on what seems to work after looking left.

My 2 cents
Its all just one persons opinion
  • #7,727
  • Jul 19, 2024 4:54am Jul 19, 2024 4:54am
Quoting birdland
{quote} as a daytrader, hardcore scalper, etc...i can also win in a sideway market. i dont need a trend. i just need to know when is a swing or a trendday;-) in my small GU daytrader world i identified 75% trenddays and 25% swingdays. and thats all for me i have to know.
I confess: I love scalping ranging markets. That is why I created the Extreme TMA system. It is a ranging market system. But... that is after 40 years of trading and licking a lot of wounds... What I am saying is, you do not need to range trade or scalp to make consistent easy profits. Leave that for when you become an expert and are bored of making easy money.
Observation is the path to discovery.
  • #7,728
  • Jul 19, 2024 4:58am Jul 19, 2024 4:58am
Quoting Alorente
{quote} It is not a matter of courage. Take any strongly trending move and use the 10 EMA on an H1 chart. If the 10 EMA starts changing direction, you exit. Look at the EURUSD fall and apply the 10 EMA. It respects it. It works for all pairs on strong trends. You should not trade ranging markets. Just look for strong trends and use the strategy and make money and be happy.

You are correct !!!!

Like I never considering just trading in a market that fits my conditions, but you are 100% correct!!!

Thanks!!
  • #7,729
  • Jul 19, 2024 5:00am Jul 19, 2024 5:00am
Quoting SmallGains
{quote} 4hr chart orange is 10 green is 20. The trading system i use puts a plus sign there when it crosses. Using your method we could potentialy enter a short at point price kisses that 10 orange ema? {image}
I would have opened my first Sell at the crossing point. 1.0903. After that, I would continue to add Sells with each kiss of the 10 EMA.

It is always a good idea to enter in steps. If your full trade is 1 lot, open 0.2 lot trades each time. I also exit in steps, but that is more complicated to explain fully here.
Observation is the path to discovery.
  • #7,730
  • Jul 19, 2024 5:00am Jul 19, 2024 5:00am
I would be adding to my GU short .....if I could!!
Its all just one persons opinion
  • #7,731
  • Jul 19, 2024 5:03am Jul 19, 2024 5:03am
Quoting NrSLionHeart
{quote} You are correct !!!! Like I never considering just trading in a market that fits my conditions, but you are 100% correct!!! Thanks!!
When you buy a suit, you get one that fits you exactly, right? Why would you buy a suit that doesn´t fit you. Plus, trading a system that fits your personality is more fun...
Observation is the path to discovery.
  • #7,732
  • Jul 19, 2024 5:10am Jul 19, 2024 5:10am
In case that anyone is wondering where the gold fall might end

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  • #7,733
  • Jul 19, 2024 5:15am Jul 19, 2024 5:15am
Quoting axecap
I would be adding to my GU short .....if I could!!
140 pips and not a good chance to add, at least according to my system.
1.2877 is the focal point I think.
We watch the charts from every angle so you don't have to!!
  • #7,734
  • Jul 19, 2024 5:29am Jul 19, 2024 5:29am
GU: Next week
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  • #7,735
  • Jul 19, 2024 5:29am Jul 19, 2024 5:29am
Quoting pedro319
{quote} 140 pips and not a good chance to add, at least according to my system. 1.2877 is the focal point I think.
I am actually in this trade. I marked the entry and places where I added.
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Observation is the path to discovery.
  • #7,736
  • Jul 19, 2024 5:30am Jul 19, 2024 5:30am
Quoting pedro319
{quote} 140 pips and not a good chance to add, at least according to my system. 1.2877 is the focal point I think.
I accept that, but i have other shorts from further up and another 30 pips would be fine. Being friday I would be
keen to watch till the end and close for the weekend. As it stands unless my trading platform comes up im at the meryc of a retrace anytime.

I have 1.2875 as an area of liquidity so agree soemthing will happen there.

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Its all just one persons opinion
  • #7,737
  • Jul 19, 2024 5:37am Jul 19, 2024 5:37am
Quoting Alorente
{quote} I am actually in this trade. I marked the entry and places where I added. {image}
Moving averages and trendlines are ok but with massive limitations, I use a displaced 3x3 but only for a particular setup.
We watch the charts from every angle so you don't have to!!
  • #7,738
  • Jul 19, 2024 5:39am Jul 19, 2024 5:39am
Quoting axecap
{quote} I accept that, but i have other shorts from further up and another 30 pips would be fine. Being friday I would be keen to watch till the end and close for the weekend. As it stands unless my trading platform comes up im at the meryc of a retrace anytime. I have 1.2875 as an area of liquidity so agree soemthing will happen there. {image}
I always close all trades prior to the weekend, even if technically they are still alive. A lot can happen over the weekend and most of the time, it is not good.
Observation is the path to discovery.
  • #7,739
  • Jul 19, 2024 5:41am Jul 19, 2024 5:41am
Quoting pedro319
{quote} Moving averages and trendlines are ok but with massive limitations, I use a displaced 3x3 but only for a particular setup.
Everyone is different and there is no wrong system if it makes money...
Observation is the path to discovery.
  • #7,740
  • Jul 19, 2024 5:44am Jul 19, 2024 5:44am
Quoting Alorente
{quote} Everyone is different and there is no wrong system if it makes money...
Goes without saying!
We watch the charts from every angle so you don't have to!!
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