Deprive a man of everything and you give him nothing to lose.
- #5,705
- Feb 11, 2009 1:10pm Feb 11, 2009 1:10pm
Welcome to the thread.
This is normal for a new or even a fairly new trader. When you are not sure, don't trade. It takes a long time to get used to PA and feel comfortable with its behavior. There is no real need to be in a rush to "get it". Only take the perfect looking trades. Later, you may be able to recognize good potential in not so good looking setups. In the meantime, keep trading on the simulator and demo so you can familiarize yourself with patterns.
for you , in other words what makes you take it or stay out ?
- #5,707
- Feb 11, 2009 1:21pm Feb 11, 2009 1:21pm
- Joined Oct 2008 | Status: Let the market come to you | 2,670 Posts
Looks like Fxg has similar questions to mine , maybe articulated better than me . TradeWell would you mind defining more what a perfect looking trade is
for you , in other words what makes you take it or stay out ?
Basically, when all the rules are met and you are trading during highest activity (London) hours when there is no news release, those will be the best. Of course, you also need to make sure no major support or resistance, or trendline is in the immediate path of the trade. In a nutshell, wait for the rules to be met and you will, on average, be successful.
- #5,708
- Feb 11, 2009 1:27pm Feb 11, 2009 1:27pm
- Joined Oct 2008 | Status: Let the market come to you | 2,670 Posts
- #5,709
- Feb 11, 2009 1:30pm Feb 11, 2009 1:30pm
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
Mmmmm....eggs....I do like them.....but I will leave yours alone. I'll talk to the snakes about staying away from them. Don't worry, I have alot of say because owls eat snakes too. hehe
- #5,710
- Feb 11, 2009 1:37pm Feb 11, 2009 1:37pm
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
- #5,711
- Feb 11, 2009 1:37pm Feb 11, 2009 1:37pm
- Joined Oct 2007 | Status: Pip Seer | 1,299 Posts
Pip what you see; See what you pip!
- #5,712
- Feb 11, 2009 1:43pm Feb 11, 2009 1:43pm
- Joined Oct 2008 | Status: Let the market come to you | 2,670 Posts
Snakes eat birds too, caution.
- #5,713
- Feb 11, 2009 1:49pm Feb 11, 2009 1:49pm
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
Looks like Fxg has similar questions to mine , maybe articulated better than me . TradeWell would you mind defining more what a perfect looking trade is
for you , in other words what makes you take it or stay out ?
second screenshot an example not to trade.
- #5,714
- Feb 11, 2009 1:54pm Feb 11, 2009 1:54pm
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
OK, we strike a balance then, and cooperate.
- #5,715
- Feb 11, 2009 2:00pm Feb 11, 2009 2:00pm
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
What if I tell you all that I didn't trade the London session, only the NY and London overlapping?
After my mistery with the PC's time sincronization yesterday I lost one hour and wasn't prepared like I should, that's why I decided to take a nap and start up again on NY open.
A trader needs to be well prepared for his session and I wasn't, not to trade when you don't feel so is trading as well.
After my mistery with the PC's time sincronization yesterday I lost one hour and wasn't prepared like I should, that's why I decided to take a nap and start up again on NY open.
A trader needs to be well prepared for his session and I wasn't, not to trade when you don't feel so is trading as well.
- #5,716
- Feb 11, 2009 2:11pm Feb 11, 2009 2:11pm
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
Trading and completing a couple of open projects. Can not and will not post when I'm trading...
When my trading room is in full action (London session) there will be no wife, servant, kid, pets, phone, Internet Explorer or anything else that may take my attention other than my chart.
Well said Scrutch
- #5,717
- Feb 11, 2009 2:24pm Feb 11, 2009 2:24pm
.
second screenshot an example not to trade.
Am I right in thinking the second example is a bad entry because the on 15M the Trix is green and moving up even though there is a possible entry on the shorter t/f ?
Is there anything else there .... sorry I'm new here
- #5,718
- Feb 11, 2009 2:53pm Feb 11, 2009 2:53pm
- Joined Oct 2008 | Status: hit the road, Jack. | 500 Posts
today was a very nice day!
seriously, no trade for me without drawing my channels, helps tremendously to have a better view of the whole thing
sometimes when we don't draw channels we see the "perfect" setup with THV and we take it. Price seems to go in your favor for a bit, then stops, or change direction all of a sudden, and we think "hell! what is going on now? we are no near close to any pivot points! damn!"
hehe and if we had drew our trendlines and channels sometimes we would realise that PA stoped there because that was perhaps the middle wall of a strong channel.
seriously, no trade for me without drawing my channels, helps tremendously to have a better view of the whole thing
sometimes when we don't draw channels we see the "perfect" setup with THV and we take it. Price seems to go in your favor for a bit, then stops, or change direction all of a sudden, and we think "hell! what is going on now? we are no near close to any pivot points! damn!"
hehe and if we had drew our trendlines and channels sometimes we would realise that PA stoped there because that was perhaps the middle wall of a strong channel.
- #5,719
- Feb 11, 2009 2:55pm Feb 11, 2009 2:55pm
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
Hi Cobra,
Am I right in thinking the second example is a bad entry because the on 15M the Trix is green and moving up even though there is a possible entry on the shorter t/f ?
Is there anything else there .... sorry I'm new here
BTW: the ones that are still trading, the 15M in E/U shows a possible forming H&S (not the shampoo), watch out for a possible break of the red TL.
- #5,720
- Feb 11, 2009 2:59pm Feb 11, 2009 2:59pm
- Joined Oct 2008 | Status: Let the market come to you | 2,670 Posts