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Lets build a system from the ground up..eur/usd

  • #61
  • Mar 4, 2009 7:18pm Mar 4, 2009 7:18pm
ok , heres the one hour chart...the nearest point which shows minor resistance is around 1.2546....will this become the new support?

If i move my stops to this target am definetly playing it a lot safer...


sure my first open trade would close about -50pips...but i would have no one but myself to blame for that horrible entry...

and my 2nd trade would close at about +80 pips....

am going to go ahead and move my stops to this level...
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  • #62
  • Mar 4, 2009 7:21pm Mar 4, 2009 7:21pm
Quoting mf036ml
although I didnt fully understand Bmacs post...it's had me thinking....is my target to out there? specially round such a close strong support level?


Supposedly, what was once resistance once price breaks it should technically then become support....hmmm....lets take a look at that one hour chart and reasses..
Ahh S#!t. just wait till AK sees this one,

I will NEVER post an answer. Only {hopefully} enough to make You think of one.

Hey; I am who I am;...
  • #63
  • Mar 4, 2009 7:25pm Mar 4, 2009 7:25pm
wow, this is so totally one sided...hearing my thoughts outloud or writing them down i should say , is definetly painting somewhat of a clearer picture for me on my own thought process behind the why's and the when's of placing these trades...

right of the bat even if these orders go against me I realize how much more sense the 2nd entry made in comparison to my 1st...best case scenario one would be a loser and the other a winner...and no else would be at fault other than my bad decision on the first one.

Maybe I should just start a journal on my computer....to do exactly what am doing here and see how that works out...am not really getting any feed back from anyone....

well, guess will ride these two trades out just to finish what i started and then gracefully bow out of the whole thread thingy...

I'll leave this to the people with the correct netiquette in order to keep one of these things rolling...
  • #64
  • Mar 4, 2009 7:33pm Mar 4, 2009 7:33pm
Quoting Bemac
Ahh S#!t. just wait till AK sees this one,

I will NEVER post an answer. Only {hopefully} enough to make You think of one.

Hey; I am who I am;...

Bmac I have no clue who AK is or even what you meant by that...but thanks I guess, I really dont even know what to make of it....if you will never post an answer are you simply mocking my honest attempt at trying to figure something out...

am not upset or bitter about it at all I actually think its quite amusing...this whole thread thing gives me something to do other than stare at the charts...

Am just trying to understand the motive or reasoning behind a succesful trader to come on here and mock someone trying to make an honest effort...

were you guys all born already knowing this stuff and why the heck didnt i inherit those genes from my parents?

Oh well, que sera sera
  • #65
  • Mar 4, 2009 9:03pm Mar 4, 2009 9:03pm
Quoting mf036ml
Bmac I have no clue who AK is or even what you meant by that...but thanks I guess, I really dont even know what to make of it....if you will never post an answer are you simply mocking my honest attempt at trying to figure something out...

am not upset or bitter about it at all I actually think its quite amusing...this whole thread thing gives me something to do other than stare at the charts...

Am just trying to understand the motive or reasoning behind a succesful trader to come on here and mock someone trying to make an honest effort......
Whatever will be will be...

You missunderstand me. I am not mocking you by any stretch of the imagination. Not even your Chart Colours.

Just asking you to have a look @ the Straight & Narrow.

btw. that's 'Bemac' if you don't mind.
  • #66
  • Mar 5, 2009 7:54am Mar 5, 2009 7:54am
Profit Hit....kewl
  • #67
  • Mar 5, 2009 8:51am Mar 5, 2009 8:51am
long now: opened at 1.2509

Target: 1.2549
sl: 1.2469
  • #68
  • Mar 5, 2009 9:09am Mar 5, 2009 9:09am
Target hit again.....
  • #69
  • Mar 5, 2009 9:50am Mar 5, 2009 9:50am
Short

Open 1.2557
SL 1.2595
TP 1.2501
  • #70
  • Mar 5, 2009 9:53am Mar 5, 2009 9:53am
changed take profit to 1.2513

This makes more sense to me
  • #71
  • Mar 5, 2009 10:01am Mar 5, 2009 10:01am
changed tl again, sorry still getting the hang of this...were pretty much risking the same thing were shooting for here....



tp: 1.2526


Ok I know I said i'd stop the thread , so I swear , this will be the last one I post up here...
  • #72
  • Mar 5, 2009 10:28am Mar 5, 2009 10:28am
Target hit again, cool
  • #73
  • Mar 5, 2009 3:13pm Mar 5, 2009 3:13pm
summary for the day attached , not too bad...currently have another trade open with bigger targets in my site.....Farewell and good luck to all....Off to start my trading journal
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File Type: doc fxcm.doc   100 KB | 246 downloads
  • #74
  • Mar 5, 2009 3:35pm Mar 5, 2009 3:35pm
mf036ml,

That's a fairly good report, to me; and, you last posted a year ago, on same subject. It appears you already know a little, and I look forward to reading your calls. What on the chart do you decide on to make your call? Knowing this may help you make a system.
  • #75
  • Mar 5, 2009 3:53pm Mar 5, 2009 3:53pm
Quoting ha-pattern
mf036ml,

That's a fairly good report, to me; and, you last posted a year ago, on same subject. It appears you already know a little, and I look forward to reading your calls. What on the chart do you decide on to make your call? Knowing this may help you make a system.

Thank you so much for those kind works Ha patterns , this is the first of very few positive posts here ....to be honest i think I've learned more or atleast realized what exactly it is ive learned in the 24hours i've been writing all this stuff here than in all year...

I started this with the hopes that a few of us could put our minds together and find not a system but yet become traders....

Right off the bat everyone says oh , you have to determine what kind of trader you are....I say , lets become traders and then find what suits us most....

It is my belief that a system does not make someone a trader...but yet the trader finds he's own system...I mislabled this cause i dont want to create a system, I want to create a stratagy rather....95 % spend most of our time looking for the easy way out....trying to gain on someone elses hard work and as if yet that werent enough we want to have it automated...to do even less.....

Maybe thats why 95% of us fail..(myself included) .....we cant work backwards....anything worth learing is difficult , but once you learn it its the easiest thing in the world to you and you cant comprehend how is it possible that no one else can see it....think back to driving or riding a bike even.

well, thanks again for showing interest...who knows maybe will get a few more people to analyze the market with us....

I dont want to keep posting what am doing cause it comes off as if am trying to teach something and I am the least person qualified to teach anyone....

I was hoping for us to learn and grow as aspiring traders together...


Right now am short....opened at 1.2564
  • #76
  • Mar 5, 2009 5:12pm Mar 5, 2009 5:12pm
Manually closed it at plus 20 pips....
  • #77
  • Edited Mar 6, 2009 1:33am Mar 5, 2009 5:37pm | Edited Mar 6, 2009 1:33am
Quoting mf036ml
Thank you so much for those kind works Ha patterns , this is the first of very few positive posts here
It's unfortunate that you feel that way, and the notion that someone like Bemac who has already learned much of what it is that you now seek was "mocking" you or being "negative" in any way towards you is simply ludicrous.

A friend starting out in this bizness told me a couple years ago, that so far all he had learned in a year of extensive trading was that The Market would find every single flaw, defect, or even weakness in ones character, emotional makeup, and/or agenda, and then it would either burn them out of you forging something new and better in the process, or it would break you to the point you could no longer keep moving forward as an aspiring trader...

Bemac has forgotten more than you or I will likely ever know about trading... and he certainly doesn't troll thru threads looking for newbies to beat up on. ((Thank whatever God you recognize for that...))

If you had taken the time to read some of his posts and realize that he wraps his Wisdom and Nuggets in layers that must be peeled and sorted, and then at best all you really have is a starting place to proceed from... you'd have realized that Something had been placed near your path for you to either "react" to ((what you did), consider further ((which you didn't)), or pass on by... which many do.

Hope this all works out for you... but if all you see is "negative" then this post probably won't make the cut either..
FUBAR...
  • #78
  • Mar 5, 2009 5:46pm Mar 5, 2009 5:46pm
Quoting ak4x
It's unfortunate that you feel that way, and the notion that someone like Bemac who has already learned much of what it is that you now seek was "mocking" you or being "negative" in any way towards you is simply ludicrous.

A friend starting out in this bizness told me a couple years ago, that so far all he had learned in a year of extensive trading was that The Market would find every single flaw, defect, or even weakness in ones character, emotional makeup, and/or agenda, and then it would either burn them out of you forging something new...

Good lord , where did all that come from? are all traders this short tempered....I just want to start a thread for us newbies to analyze trades and try and learn

thats it...if your way advanced than we are...then unless your willing to teach us something then your out of place here.....thats all am saying....Bemac doesnt bother me at all....but what the heck is up you guys buts....

if you dont want to teach , then dont.....but dont come around here with your arrogance and cockiness stating trying to make us feel like less than you are..

cause if those are not your intentions news flash, thats how it comes off....

what a mistake on my part to even be here....I didnt ask for help, if you want to give it to me beleive I appreciate it....but if you want to put me on some kind of easter egg hunt, thanks but no thanks....

so much time is wasted on these things with all this silly bickering.....if you have something nice to say then say it...if you dont then keep it to yourself....

I mean i was taught that from a young age...

oh yea, am deviating....am long now.....c,ya....you'd think a succesful trader would be much more chipper....i guess if your not happy without money...you never will be with money either....
  • #79
  • Mar 5, 2009 6:44pm Mar 5, 2009 6:44pm
Hey Fm

don't worry about it you'll find its the norm here at ff just take all comments in your stride. I believe we can learn something from everyone and a senior like Bemac certainly has a lot to offer

anyway here's another perspective.

It maybe a good idea to look for divergence because-:

1) Doc Elder says in his book it gives THE strongest signals in TA more specifically divergence on the weekly MACD histogram is the most reliable signals he knows of
2) Peter Bain spends an entire section of his seminar talking about how powerful it is and how its an essential part of his system and says analysing the COT with MACD divergence is all you need.
3)Vic Noble considers it the most reliable of signals, has written a book on it and claims his best trader solely trades MACD divergence 200 lots a trade (as per Hanover)


Well this is not the histogram but the MACD showing mild divergence on the dailies which indicates the next move to be up.Up to what level only a fortune teller could say. In addition to this we've bounced off a very strong support level.

One imp point to consider is news takes precedence over all else and with the NFP out tomorrow its advisable to wait.
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  • #80
  • Mar 5, 2009 7:06pm Mar 5, 2009 7:06pm
Quoting fugly
Hey Fm

don't worry about it you'll find its the norm here at ff just take all comments in your stride. I believe we can learn something from everyone and a senior like Bemac certainly has a lot to offer

anyway here's another perspective.

It maybe a good idea to look for divergence because-:

1) Doc Elder says in his book it gives THE strongest signals in TA more specifically divergence on the weekly MACD histogram is the most reliable signals he knows of
2) Peter Bain spends an entire section of his seminar talking about how powerful it is...
Hey Fugly,

Thanks for the encouragement...right now the only thing am using to make my calls (for the time being) is trendlines, support/resistent levels....am long right now with a small target of around 40pips at 1.2586....to be honest with you I have not done much reading on spotting and or finding divergence with the MACD indicator....

Perhaps this is a strong piece of arsenal I am missing under my belt.....

I assure you I'll be doing a search on interpretting macd and finding signs of divergence...and see if I can implement that into what am doing now.....

Till then, anything you'd like to share on the subject or bring too light , by all means, my ears are open...thats what am here for...to learn....

once this one trade i have is closed (win,lose,or draw) I think that'll probably be then end of my trading week...unless I have time tomorrow to find a nice short intraday set up at work...which I doubt...Or atleast what I would deem to be a nice short intraday set up.....

Really hope to hear from you again on here...

Thanks again
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