EUR/USD seem to be having Bearish Engulfin candle in 4H TF... Called it BEOB (Bearish outside bar?? )
Downside coming...
Sonic
Downside coming...
Sonic
- #16,062
- Dec 3, 2008 2:50am Dec 3, 2008 2:50am
EUR/USD seem to be having Bearish Engulfin candle in 4H TF... Called it BEOB (Bearish outside bar?? )
Downside coming...
Sonic
- #16,064
- Dec 3, 2008 3:11am Dec 3, 2008 3:11am
- Joined Feb 2006 | Status: 'Try-hard' extraordinaire... | 2,151 Posts
edit - sorry i know this doesn't exactly constitute PA - my bad
Bundy's status today: "Waiting..."
- #16,065
- Dec 3, 2008 6:49am Dec 3, 2008 6:49am
To Unlv:
Hey, I wanted to share a little with you for some encouragement or to get you to think a little. I am the oldest of 10 children. I grew up in a farming community in Michigan, my dad is a teacher and my mother had a full time job raising us kids. We qualified for welfare,......
mat
- #16,067
- Dec 3, 2008 7:33am Dec 3, 2008 7:33am
- | Joined Mar 2008 | Status: shoe shine boy | 1,146 Posts
- #16,068
- Dec 3, 2008 10:51am Dec 3, 2008 10:51am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
I believe . . .
- #16,069
- Dec 3, 2008 11:17am Dec 3, 2008 11:17am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Hi ya all,
Don't post much as usually don't feel I can add value but really touched by unlv's post and the subsequent replies and of course James who's posts always impress me.....I think its the empathy for others that shines through.
The attraction to forex for me is
1. I can be my own boss
2. I can invest as much or little as I like, ie, time, effort and money
3. If its not going good I can stop for a while
4. It lures me with promises of freedom such as from one day hopefully never having to work for corporation again or for others...
Try climbing out of that hole where you feel you've been displaying your humbleness, not considering yourself worth something you're good at is by no means humbleness but more an illusion of it.
your company is desired
Regards,
Ghous.
I believe . . .
- #16,070
- Dec 3, 2008 11:34am Dec 3, 2008 11:34am
- | Joined Mar 2008 | Status: shoe shine boy | 1,146 Posts
- #16,071
- Dec 3, 2008 12:21pm Dec 3, 2008 12:21pm
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Actually i was targeting the 1.4743 pivot for take profit but usually seeing that strong momentum i try to keep position a little longer. I always put 1 position on the trade and try to increase my skill in letting it ride analysing pa on lower tf. In this case i was overcomed by fear of rapid price reversing.
Don't take me wrong but taking the "not as good as should be" trades and bad trades on a tf you do love to trade on will only hurt your confidence more then build it. This early in your career you need as many opportunities to gain confidence as you can grab. I respect your trading personality 100% and admit that you perhaps enjoy short term day trading but you need to consider Jim's words regarding higher tf trading. I have no dought that Jim agrees that every trader is truly unique and different in regard of his/her likes and dislikes in the variety filled markets yet he emphasizes on higher tf trading at first to all newbies! there has to be a reason for this, part of the reasoning has been mentioned above and ofcoarse there are other logics to it.
Coming to the climax I would rather advice you to trade on the higher tfs for now, looking at the trade you mentioned it is evident that you do have sufficient knowledge and skill for effective implementation on the higher tfs. I never knew how important this confidence of winning big was till i recently experienced it with a few good biggy trades on the daily tf.
Even when trading off higher tfs is against your liking this is a temporary sacrifice you should be willing to make in an attempt to groom your self into a trader you always wanted to become.
Do me a favor and take all of this as just a brotherly advice
Happy trading and best of luck!
Regards,
Ghous.
I believe . . .
Greetings
Very nice E-mini S&P 1H DHLC off of 61.8 Fib & 365EMA and in direction of longer term trend. Wasn't perfect - the 'LC' wasn't as low as I'd have liked, and the bar following the setup retraced just a little too much (though met resistance at the 365)
-The Iron Duke-
Very nice E-mini S&P 1H DHLC off of 61.8 Fib & 365EMA and in direction of longer term trend. Wasn't perfect - the 'LC' wasn't as low as I'd have liked, and the bar following the setup retraced just a little too much (though met resistance at the 365)
-The Iron Duke-
- #16,076
- Dec 3, 2008 1:50pm Dec 3, 2008 1:50pm
- | Joined Mar 2008 | Status: shoe shine boy | 1,146 Posts
Considering the kind of fear you're talking abt i do get a feeling you're trading on a tf you at least presently don't belong to.
Don't take me wrong but taking the "not as good as should be" trades and bad trades on a tf you do love to trade on will only hurt your confidence more then build it. This early in your career you need as many opportunities to gain confidence as you can grab. I respect your trading personality 100% and admit that you perhaps enjoy short term day trading but you need to consider Jim's words regarding higher tf trading....
Most of my losers were infact caused by boredom , bad planning and trade management.Lower tfs give me more oportunities to learn but i always try to play them in line with bigger moves.I play higher tf setups aswell but still need that multipip confidence builder
Happy trading to you Ghous
- #16,078
- Dec 3, 2008 1:53pm Dec 3, 2008 1:53pm
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Understood Mike - Thanks
-The Iron Duke-
Mike
