DislikedTC=trend countinuos
CT=counter trend
please read again from page 1 ,ok.its very important all things about market rythem.Ignored
Thanks. It was I understand, but now I'm sure. Anyway I'll read again all things about market rythem.
- #11,522
- Feb 11, 2008 6:32am Feb 11, 2008 6:32am
- Joined Oct 2007 | Status: follow momentum. | 1,202 Posts
Here's my view on the EURO longer timeframe:
1. Price broke the TL and stayed above the TL (black),
2. MACD is blue (bullish), it did went red though for a couple of minutes.
So my analysis is still on the bull run.
Good luck for both of us..
to both you guy's
I can see the rythem you are working to, but based on the system i can not see any trades there.
Hijackxx
the MACD on your chart is looking like a TC in the making to me.
good trading
- #11,523
- Feb 11, 2008 7:04am Feb 11, 2008 7:04am
I don't think the stop loss issue would be too bad using this method for weekly timeframe as long as your broker offers small lots. If you risk 1% of your account every trade it doesn't matter if stop loss is 40 or 400 pips it's still 1%.
Plan your trades and trade your plans
- #11,525
- Edited 8:02am Feb 11, 2008 7:41am | Edited 8:02am
- | Joined Apr 2007 | Status: Trader | 1,126 Posts
Not sure I see this "bull run" Eur/Usd fell about 500 pips so far in February and corrected a little of it.... TC forming... Going long on the open was in my opinion wasn't a trade based on market motion, but a 50/50 shot at a market direction call. Market motion is clearly down, this was a retrace back to the 21 ema
Here's my view on the EURO longer timeframe:
1. Price broke the TL and stayed above the TL (black),
2. MACD is blue (bullish), it did went red though for a couple of minutes.
So my analysis is still on the bull run.
Good luck for both of us..
Not sure I see this "bull run" Eur/Usd fell about 500 pips so far in February and corrected a little of it.... TC forming... Going long on the open was in my opinion wasn't a trade based on market motion, but a 50/50 shot at a market direction call. Market motion is clearly down, this was a retrace back to the 21 ema
- #11,529
- Feb 11, 2008 8:12am Feb 11, 2008 8:12am
Not sure I see this "bull run" Eur/Usd fell about 500 pips so far in February and corrected a little of it.... TC forming... Going long on the open was in my opinion wasn't a trade based on market motion, but a 50/50 shot at a market direction call. Market motion is clearly down, this was a retrace back to the 21 ema
the trade however took half TP of which was 30pips/2 = 15pips..
- #11,531
- Feb 11, 2008 8:34am Feb 11, 2008 8:34am
- Joined Jul 2007 | Status: Screw Long Term 5min For Life! | 1,259 Posts
The eur was a 50/50 trade and something I would not take. Two types of traders, those that trade for years, take every trade and never really make money. Then you have trades like Phillip that will win 85%+ and make good money and skip the higher risk trades. It's upto you, if you like making a lot of trades and not make any money you are doing the right thing trading against the trend on 1hr stuff over and over. If you want to trade less and make good money you will not trade this way. You have to have the people that keep the market going and it's the people that win 50/50
Keep taking CT trades, I need more money
- #11,532
- Feb 11, 2008 8:40am Feb 11, 2008 8:40am
- | Joined Apr 2007 | Status: Trader | 1,126 Posts
The eur was a 50/50 trade and something I would not take. Two types of traders, those that trade for years, take every trade and never really make money. Then you have trades like Phillip that will win 85%+ and make good money and skip the higher risk trades. It's upto you, if you like making a lot of trades and not make any money you are doing the right thing trading against the trend on 1hr stuff over and over. If you want to trade less and make good money you will not trade this way. You have to have the people that keep the market going and it's the people that win 50/50
- #11,534
- Feb 11, 2008 8:42am Feb 11, 2008 8:42am
- Joined Jul 2007 | Status: Screw Long Term 5min For Life! | 1,259 Posts
Keep taking CT trades, I need more money
The eur was a 50/50 trade and something I would not take. Two types of traders, those that trade for years, take every trade and never really make money. Then you have trades like Phillip that will win 85%+ and make good money and skip the higher risk trades. It's upto you, if you like making a lot of trades and not make any money you are doing the right thing trading against the trend on 1hr stuff over and over. If you want to trade less and make good money you will not trade this way. You have to have the people that keep the market going and it's the people that win 50/50
the short trade was a nice early entry to position for a TC on the 4hour. and most importantly it was confirmed by the market (see my previous post). 1hour is more challenging than 4hour and more riskier at the same time.
- #11,536
- Feb 11, 2008 9:05am Feb 11, 2008 9:05am
- | Joined Apr 2007 | Status: Trader | 1,126 Posts
Also it seems everyone is NOT trading the 4hr stuff and it really is distracting trying to go through 50 new posts about people coming in here and just posting whatever they are trading even if it's not the 4hr. I will post more once this get back on topic, until then I am going to goto a different forum that is about the 4hr not everything else.
and thats market rythm and price action.my h1 candle close can be your h4 candle close so... i think dont pay much attention to names: h4 h1 ...
the important is to recognize the market emotion and it could be on h4 h1 and daily weekly charts. i think phillip is trying to learn us them market rythm and emotion ,i havent hear he told: just trade on h4 chart and nothing else
- #11,538
- Feb 11, 2008 9:11am Feb 11, 2008 9:11am
The eur was a 50/50 trade and something I would not take. Two types of traders, those that trade for years, take every trade and never really make money. Then you have trades like Phillip that will win 85%+ and make good money and skip the higher risk trades. It's upto you, if you like making a lot of trades and not make any money you are doing the right thing trading against the trend on 1hr stuff over and over. If you want to trade less and make good money you will not trade this way. You have to have the people that keep the market going and it's the people that win 50/50
Jenny
Absolutely. Your short (not sure when your bar closes) looks to be in the rhythm of the market. Nice spinner off the 21 and TC on the MACD. I'd say a little better than 51/49...
the long trade was a 50/50 shot just like EricthePip stated above. but the short trade was at least 51/49
the short trade was a nice early entry to position for a TC on the 4hour. and most importantly it was confirmed by the market (see my previous post). 1hour is more challenging than 4hour and more riskier at the same time.