How people should really trade! | Page 5 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Do you find it really hard to trade the USDJPY? 9 replies

Should you really blame market makers? 1 reply

The Really Really Boring Forex System 97 replies

Why do we trade?... no really, why? 51 replies

Really? what leverage and what risk per trade? 6 replies

Attachments: How people should really trade!
Exit Attachments

How people should really trade!

  • #81
  • Dec 10, 2008 7:58pm Dec 10, 2008 7:58pm
Quoting psiholog
i see how you do it now. in an uptrend..whenever a resistance gets broken and retracement occurs to make sure the resistance has become support you buy and vice versa to the downside. Stop loss just in case reversal comes into the picture at a designated level. In short..you check bias at the door...thank you
Trade what you feel i guess is an easier way to say it. Bias is good if the market is trending big time. But when you start getting unexplained swings, and washing machine like market movements, you need to know when people want their money in the market. Where their market orders are. Their market orders will scare people out of the market.

Some of the market makers (the ones that aren't banks) are extremely afraid to enter the market based on reasonable bias. This is because banks are trying to buy back debt, sell back currency and fix their books.

Without those market makers in the market, the breakouts just aren't happening, so we wait until the big guys decide to break the market, then follow for a surge.
  • #82
  • Dec 10, 2008 11:25pm Dec 10, 2008 11:25pm
Just a last post from work for the day

I have been watching eur/usd after the posts above got my curious.

I am expecting a reversal hopefully after i get home, and it should be quite strong.

My reasoning, there is a long term triangle... See if you can draw it Breakout to the downside is most likely, but if the upside goes I will be happy to tag along.

To whomever can draw the triangle on the 1H first, I will give you a vouch on FF Post your charts!
  • #83
  • Dec 10, 2008 11:30pm Dec 10, 2008 11:30pm
Cancel that, the upside break occured just as I was typing LOL go figure. I will have to re-analyse when I get home unless there is some sort of pullback into the triangle.
  • #84
  • Dec 11, 2008 12:31am Dec 11, 2008 12:31am
The 200sma on a 1 hour chart is good for a view on medium term trend.

Its "about" the same as an 8ma on a daily chart and if you look at the dailies you'll see a lot of bounces at the 8 especially in a trend (8 has some slope).

So, IMO, you're leaders chose well to add it to your charting software.
  • #85
  • Dec 11, 2008 1:23am Dec 11, 2008 1:23am
Quoting kiwi_trader
The 200sma on a 1 hour chart is good for a view on medium term trend.

Its "about" the same as an 8ma on a daily chart and if you look at the dailies you'll see a lot of bounces at the 8 especially in a trend (8 has some slope).

So, IMO, you're leaders chose well to add it to your charting software.
It is strong on the 30 min chart I find. I just dont trade using it much. Unless market is sideways. It can be used as either support/res or centre of gravity.
  • #86
  • Dec 11, 2008 2:22am Dec 11, 2008 2:22am
I apologize if it's been said in this thread before, but I think simply watching the markets live does wonders for a trader. People look at a chart, draw some lines and think they know what's going on. There's something to be said of actually watching a chart realtime and waiting for the candles to form though. You get a real sense of what support and resistance are when you see how quickly price bounces some times or if it takes forever for price to creep up or down.

I agree charts should be kept simple, and I think actually understanding the motion of the ocean can work very well within that concept.
  • #87
  • Dec 11, 2008 2:26am Dec 11, 2008 2:26am
No charts today guys, I just got a really bad stomach ache, I opened a few trades, my favourite one being a/u short at 0.6640, am about to close it now and go to the couch for some RnR.

I'll see what I can come up with tomorrow providing the boss doesnt take us to Ryans bar after work.
  • #88
  • Dec 11, 2008 3:07am Dec 11, 2008 3:07am
ease up on the barocca, i hear its banned in the US for causing sickness, not preventing it
BTC Return This Year: na
  • #89
  • Dec 11, 2008 3:17am Dec 11, 2008 3:17am
Quoting M.A.C.Doug
ease up on the barocca, i hear its banned in the US for causing sickness, not preventing it
Lol thanks for the tip, I only drink it once a week. Recommended by a DR.
  • #90
  • Dec 11, 2008 4:14am Dec 11, 2008 4:14am
Takisd,

The break to the upside has been underway for sometime now, but I'm out until after New Year, so not onboard for the ride, but what do u see as a probable cap to this break? Could 3200 be in the works?

Just before the break I had a small 2 lot long in place but closed it when it started to go choppy.......should have held on it seems.

It appears the the trend is up as Price is well above EMA 200 on 1H & 4H tf's.

Tks for your views looking ahead.

_____________________________
  • #91
  • Dec 11, 2008 2:33pm Dec 11, 2008 2:33pm
Yes the upside break was good, I made a few pips on the long. not many though.

I ended up crashing pretty early last night so didn't do many trades, must be the rainy weather.
  • #92
  • Dec 11, 2008 3:00pm Dec 11, 2008 3:00pm
Quoting Takisd
Equity curves sort of move like the markets really... with the zigzags and what not, so long as the underlying trend is up, your balance is protected, you can try draw trendlines on your balance charts. I do this every now and then if I suffer a small string of losses, just to make sure I haven't broken the trend. When you break the trend, its time to look at your mistakes before its too late. So, basically your equity curve can have dips, so long as the lows are higher lows not lower lows... If that makes any sense
Hi.
Thank god, for a while there I thought I was the only one who saw stuff like that and was a bit loony. Account balance levels can actually behave like s/r I noticed, as well as the general trending / charting you described. Very cool to actually read this from someone else as well.
Also shows that you plot your curves, too
Not a lot of people tend to visualize that I believe.

I just wanted to say it's nice to see someone with a simple s/r oriented price approach and just about the only thing "wrong" here is that there aren't more chart examples and more chartbound reasonings(i.e. something that would let compare one's own view to in a more detailed fashion rather than seeing a post of the outcomes alone).

The personal tidbits were nice, too, though.

Either way, just wanted to say hi, only came across this by pure coincidence.

Oh and just read - I hope you get well again soon!

Best,

Seeking
Trust price. Know yourself.
  • #93
  • Dec 11, 2008 4:06pm Dec 11, 2008 4:06pm
I am well again thanks. Well still a lingering cough but you get that.

Its good to see that someone else is as crazy as me ..

More charting examples they will come, but its hard to trade + chart at the same time and give reasoning etc. Its hard to explain discretional reasoning. But I will try.

Today we have an office party lol. So lets see how we go.
  • #94
  • Dec 11, 2008 5:40pm Dec 11, 2008 5:40pm
Takisd,

The chart gave me my answer 3400+. Too bad I missed that one & I was on board in the beginning, but closed out too soon. I would have still enjoyed your view, but I understand business first. Thanks anyway.

_______________________
  • #95
  • Dec 11, 2008 6:16pm Dec 11, 2008 6:16pm
Quoting acetrader
Takisd,

The chart gave me my answer 3400+. Too bad I missed that one & I was on board in the beginning, but closed out too soon. I would have still enjoyed your view, but I understand business first. Thanks anyway.

_______________________
It seems markets have changed their mind about what they are going to follow now. After following the DOW for o so long now. They have turned to commodities.

This is gonna be a rough holiday season for those game enough to trade, fortunately, I don't have much trading to do until the 5th of Jan. Just a few trades at home maybe.
  • #96
  • Dec 11, 2008 6:38pm Dec 11, 2008 6:38pm
Takisd,

January 5, will be about when I kick off again as well. This can be bad time to trade unless you are willing to take some risk, so for me I have decided yrs ago to take time off & spend with the family.

I agree there is change in the wind.

I'm out for the yrs now & will just watch from the sidelines. From reading another thread is seems some were short on this latest wave up. Not a good time to have been short.

Tks & good trades to you.
  • #97
  • Dec 11, 2008 8:18pm Dec 11, 2008 8:18pm
I have my account at IBFX...they have a "pattern finder" which can find patterns and/or emerging patterns for any currency pair on any timeframe you choose.

Would this be something that could be helpful?
I was thinking maybe searching for patterns on the 1hr or maybe the 1hr and 4hr.

Do you think that using these patterns in conjunction with the trend or sup/res could help?

Thanks
  • #98
  • Dec 11, 2008 9:00pm Dec 11, 2008 9:00pm
Quoting RickW00716
I have my account at IBFX...they have a "pattern finder" which can find patterns and/or emerging patterns for any currency pair on any timeframe you choose.

Would this be something that could be helpful?
I was thinking maybe searching for patterns on the 1hr or maybe the 1hr and 4hr.

Do you think that using these patterns in conjunction with the trend or sup/res could help?

Thanks
The pattern finder wont be very effective if it doesnt read the price movement. Becaues you will see that there will become a pennant or gartley or whatever pattern, and then htey will break, however the gartley etc will not suggest a break on the opposite side, only that the market will follow the said pattern, thats why being able to see which side of the pattern the market is going will be important.

I dont know whether this is the type of pattern finder u r talking about, but I have heard about other ones that draw butterflys/gartleys/pennants/flags etc.
  • #99
  • Dec 11, 2008 9:45pm Dec 11, 2008 9:45pm
Could you explain how you see the s/r? I mean like when you see some s/r, what are you thinking and what would be the things that you consider when you enter the market? I think if you can explain it with chart, that would be very helpful. I've been wondering how you look at the market since I read your post. Thanks!

Happy Trading!
  • #100
  • Edited 11:51pm Dec 11, 2008 10:02pm | Edited 11:51pm
Takisd,

I was wondering what your stance is on time and charting, would you consider a trader who uses (eg) say a 100tick chart to be missing out on valuable information?

Secondly, are most traders you come in to contact with self-taught? What would your recomedations to someone only just starting to trade be(regarding study material and such)?

Cheers Mate,

Leon
Living the adventure in my head.
0 traders viewing now