DislikedHi nhallmark,
Keep up the chart posts. I learn so much from them.
Out of curiosity, why have you chosen the 10,20,30 WMAs vs the more aggressive 6,12,18,24 WMAs?Ignored
just playing around so these 
- #112
- Oct 11, 2007 9:11pm Oct 11, 2007 9:11pm
Nathan, you are exactly right--I have found that I must wake up and read the charts to see how the currency is acting today before I trade (I trade at 2am and 8am EST for about 30 minutes each time). We have to be able to evolve with the price action--that's why I believe so many people lose on forex--they set up rigid rules and follow them to a T, but the market doesn't care about their rigid rules!
Those like LT who most likely have been trading for years have the screen time in and can spot the evolution of the market way faster than the rest of us as there are only so many things a market that goes up and down in waves can do...What's really cool is that I am starting to sense how the market is acting and I've been able to stop myself from trading one of those no-brainer trades in a whipsaw market. Then I just change my mindset to trade whipsaws. While I don't know how this works on the rest of the times, I find that the market on the whole during my times of trading takes one of 2 different stances (jump in anyone who believes I am wrong. It either trades smoothly or choppy--smoothly breaks resistance, small pullback and then flies in my direction (sometimes no pullback--but I have to be careful on those as the move is only high prob. close to its start--gets less and less prob as it goes) Choppy price breaks resistance, bounces down 5-15 pips, then back up to break the level it just made only to bounce down again. When I'm into the psyche of the market I don't trade the resistance break, but if I do trade it and it acts like this, I change my strategy to whipsaw trading CYSM style--but only in the direction of the prevailing spine. Oh, another thing I have noticed while I am droning on...is that I have found it important to watch how fast the market moves and retraces especially in side trending markets--there is somewhat of a correlation as to the strength of the market in one direction by how fast it moves in that direction and how slow it retraces back in the opposite direction.
May you snag pips out of the hide of the great dragon...pk
Those like LT who most likely have been trading for years have the screen time in and can spot the evolution of the market way faster than the rest of us as there are only so many things a market that goes up and down in waves can do...What's really cool is that I am starting to sense how the market is acting and I've been able to stop myself from trading one of those no-brainer trades in a whipsaw market. Then I just change my mindset to trade whipsaws. While I don't know how this works on the rest of the times, I find that the market on the whole during my times of trading takes one of 2 different stances (jump in anyone who believes I am wrong. It either trades smoothly or choppy--smoothly breaks resistance, small pullback and then flies in my direction (sometimes no pullback--but I have to be careful on those as the move is only high prob. close to its start--gets less and less prob as it goes) Choppy price breaks resistance, bounces down 5-15 pips, then back up to break the level it just made only to bounce down again. When I'm into the psyche of the market I don't trade the resistance break, but if I do trade it and it acts like this, I change my strategy to whipsaw trading CYSM style--but only in the direction of the prevailing spine. Oh, another thing I have noticed while I am droning on...is that I have found it important to watch how fast the market moves and retraces especially in side trending markets--there is somewhat of a correlation as to the strength of the market in one direction by how fast it moves in that direction and how slow it retraces back in the opposite direction. May you snag pips out of the hide of the great dragon...pk
- #113
- Oct 11, 2007 9:23pm Oct 11, 2007 9:23pm
Nathan, you are exactly right--I have found that I must wake up and read the charts to see how the currency is acting today before I trade (I trade at 2am and 8am EST for about 30 minutes each time). We have to be able to evolve with the price action--that's why I believe so many people lose on forex--they set up rigid rules and follow them to a T, but the market doesn't care about their rigid rules!
May you snag pips out of the hide of the great dragon...pk
I think I now know why LT has his sig...
"It's not the strongest species that survive, nor the most intelligent, but the one most responsive to change" -- Darwin.
- #114
- Edited 11:14am Oct 12, 2007 5:08am | Edited 11:14am
- Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
pkchilly, you are also going to get one of those from me...
Nicely done.
Nathan, here is another example of that "thing" I was trying to explain in the other post. A picture this time though!! This time however there was obviously no momentum to push it up...
This kind of thing generally moves quick. If it shows any sign of weakness I get out... This one failed to upside, but that does make a break of the opposite side more reliable...
[I missed this 'cos I was typing this to you and thought I had more time - like I said, when it goes it goes... lol]
Nicely done.
Nathan, here is another example of that "thing" I was trying to explain in the other post. A picture this time though!! This time however there was obviously no momentum to push it up...
This kind of thing generally moves quick. If it shows any sign of weakness I get out... This one failed to upside, but that does make a break of the opposite side more reliable...
[I missed this 'cos I was typing this to you and thought I had more time - like I said, when it goes it goes... lol]
- #117
- Oct 25, 2007 4:03pm Oct 25, 2007 4:03pm
- Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
I like what I see
Couple of things,
1) Could you tell me where you got the rainbow indicator?
2) I have seen the MA numbers on the side bar, also seen it as JEMA. What are they and how do you use them?
Thanks
Ron
Ron, read this whole thread...
You will find everything there...
[Sorry for butting in there Nathan, but I was at the computer... not seen any posts in a while, things ok?]
Magnus
- #119
- Oct 30, 2007 12:52am Oct 30, 2007 12:52am
- Joined Mar 2007 | Status: ~~~~~~~~~ | 3,692 Posts
I know that you live around Malibu, Nathan.
Hope that you've made it through the fires alright!
Hoping things are fine with you, bro!
Brent and your friends here
Hope that you've made it through the fires alright!
Hoping things are fine with you, bro!
Brent and your friends here