The trend is your friend Myth? | Page 5 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Why your broker is your friend and your enemy 8 replies

1% Money Management is a myth, fib is a myth and so on.. 45 replies

Is The Trend Really Your Friend? 119 replies

The trend is your friend: if you dont miss the boat 13 replies

Trend is your friend (Image attached) 7 replies

Attachments: The trend is your friend Myth?
Exit Attachments

The trend is your friend Myth?

  • #81
  • Oct 23, 2008 3:50am Oct 23, 2008 3:50am
yes if you have decent account then like $5000 using $2000 to do trade for 10 pip that is $200 for easy money[/quote]

If you want to trade 2000$ you'd better have 200.000$ in your account, 200.000$ in your pocket and 10.000$ salary Dunno why but I think there can't be any evolution on Forex without about the same evolution happening in the rest of your life. Pressure leads to mistakes, over-valuation of your own possibilities also leads to mistakes. My opinion.
If you have a 5000$ account I think you should start with micro lots and bigger timeframes instead of focusing on buying Mercedes in 2 months. Very few people managed to do it and an ocean of people failed so why risk crushing this dream?! We hear about Buffett making billions in one week but we have to be aware that he also placed other billions behind his deals.
  • #82
  • Oct 23, 2008 4:23am Oct 23, 2008 4:23am
Quoting Parmalat
Dunno why but I think there can't be any evolution on Forex without about the same evolution happening in the rest of your life.
Well stated Parmalot. This point is often missed as one starts to dream of the good things that are just around the corner.
In trading, there is no bullshit. You either make money or you don't.
  • #83
  • Oct 23, 2008 6:05am Oct 23, 2008 6:05am
Quote
If you want to trade 2000$ you'd better have 200.000$ in your account, 200.000$ in your pocket and 10.000$ salary Dunno why but I think there can't be any evolution on Forex without about the same evolution happening in the rest of your life. Pressure leads to mistakes, over-valuation of your own possibilities also leads to mistakes. My opinion.
If you have a 5000$ account I think you should start with micro lots and bigger timeframes instead of focusing on buying Mercedes in 2 months. Very few people managed to do it and an ocean of people failed so why risk crushing this dream?! We hear about Buffett making billions in one week but we have to be aware that he also placed other billions behind his deals.
no way for play so small lots.

I know I would not fighting with this but...

what I though is if you are sure of the trend, why not use more money?

as long as not chasing the trend you will be fine.

anyway may be you should look though some indicators

http://www.forexfactory.com/attachme...7&d=1223983562 (signal line)

http://www.forex-tsd.com/attachments...ignals_v3a.mq4
(super signal)

http://codebase.mql4.com/359 (Aroon) setting 50

want to be sure about trend is when either aroon trend line going down.
even super signal will give you alert however, it only can be use as your guide.

signal line, if it have good angle then that is sure of trend.
  • #84
  • Oct 23, 2008 6:15am Oct 23, 2008 6:15am
[quote=Parmalat;2299196]
Quoting mtuppers
I think Parmalat mean either candle stick are trading with in a range, when the trend break out means it borken that range. or if you look at then trading range indicators, then it break out the range. that is signal to enter.

I believe that technical indicators are somewhat useless. Theoretically you can't define the specific (that is the market situation in our case) through the general (that is the numerical transformation of the market situation - aka technical indicators) without losing a lot of data. So following indicators strictly will take you to losses for sure.
However, a limited role of technical indicators exists and personally I use oscillators to confirm my 5th waves in Elliott Wave counts.
My opinion is that the only thing telling the truth is price action by itself; my wife doesen't have to break glasses and saucers so I can tell she's upset, I just feel that she's upset.
as long as you find good indicator to work with. above this post is three indicators that I find work most for me. as long as you trust indicator. you will be fine.

that is reason you need other indicators to help you to know when trend is going
  • #85
  • Oct 26, 2008 12:19pm Oct 26, 2008 12:19pm
Parmalot's post is good.

The thing is, it will come down to what you can afford to trade. No use thinking you will last long on a W1 trend with a 20 pip SL. The prices are trending and ranging at the same time depending what time frame is used. Trends have to be seen in relation to the account size.
So, the reality is, the trend is your friend at the level you can tade it profitably. Otherwise it's your worst nightmare
  • #86
  • Oct 26, 2008 8:16pm Oct 26, 2008 8:16pm
Yeah, I was thinking the same thing after reading so many post about trading higher time frames like 1D.
With a $3000 equity and 0.3 size lots, it would probably blow your account away before you even noticed it on a 1D TF.
Starting to see instead of just looking.
  • #87
  • Oct 26, 2008 9:31pm Oct 26, 2008 9:31pm
Trend my friend always. It is necessary correctly to work on a trend.
  • #88
  • Oct 28, 2008 9:49pm Oct 28, 2008 9:49pm
Quoting bowman
Trend my friend always. It is necessary correctly to work on a trend.
Best way to trade.
  • #89
  • Oct 28, 2008 10:00pm Oct 28, 2008 10:00pm
These days I’m really thinking it is a myth, though in the past it might have been sort of certain, I do not believe in the trend so blindly anymore, you can see how your chart shows what seems to be a sharp rally but then all of a sudden it goes down without prior notice… no clear indicators. Well, it is the feeling that I’ve been getting lately.
  • #90
  • Oct 29, 2008 12:35am Oct 29, 2008 12:35am
Jessport the TREND is your friend but the market is not your friend, it is only when a trader finds that distinction will he be able to trade the trend correctly.

Also trading is not for everybody, because if it was we will all be millionaires or be making easy money.

Most of the greatest traders that ever lived have being TREND traders.

One thing most traders never get is you cannot lead the trend you have you have to follow the TREND, SIMPLE AS THAT.

My math high school teacher once said " many are called but few are chosen".

Good luck to all trend traders.





Quoting jessporter
you can see how your chart shows what seems to be a sharp rally but then all of a sudden it goes down without prior notice… no clear indicators.
  • #91
  • Oct 29, 2008 3:59am Oct 29, 2008 3:59am
Quoting jessporter
These days I’m really thinking it is a myth, though in the past it might have been sort of certain, I do not believe in the trend so blindly anymore, you can see how your chart shows what seems to be a sharp rally but then all of a sudden it goes down without prior notice… no clear indicators. Well, it is the feeling that I’ve been getting lately.
It's not like in maths to apply a formula and solve the problem. I always told my students not to look for maths in the markets. And I always advised them to change their stance and adjust their technical studies and positions whenever required.
  • #92
  • Oct 29, 2008 6:32am Oct 29, 2008 6:32am
Oops..I seemed to have opened a rather large can of worms with this thread.

Not to worry, most of it is way over my head anyway. Thank the stars.
Starting to see instead of just looking.
  • #93
  • Last Post: Nov 19, 2008 3:26am Nov 19, 2008 3:26am
Quoting forextrend
Jessport the TREND is your friend but the market is not your friend, it is only when a trader finds that distinction will he be able to trade the trend correctly.

Also trading is not for everybody, because if it was we will all be millionaires or be making easy money.

Most of the greatest traders that ever lived have being TREND traders.

One thing most traders never get is you cannot lead the trend you have you have to follow the TREND, SIMPLE AS THAT.

My math high school teacher once said " many are called but few are chosen".

Good...
Partly true... when you become more experienced in trading, you will find that if your a good trader, the market is always your friend if you know how to trade it.
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
0 traders viewing now