DislikedOR we could just post a chart to better illustrate what we are talking about...
Dislikedpin off minor support working against 4hr beovb.
tag of war is going on. We'll we hit 2780 (my st tp) later today
It would be very nice... we'll see. Worse comes worse we'll get stopped out at BE plus some..
Dislikedand slightly larger TF...
Reasons for new traders to stick to the daily/weekly charts
Conclusion on timeframes: I think most new traders want to use intraday charts to 1) Get rich quicker, 2) Take more trades, 3) Learn faster. These are all wrong theories. Trading is not a get rich quick scheme. As mentioned, taking more trades will not help you learn better and wonít be better for your bottom line. At some point, you have to learn to ONLY take the best setups. Itíll be easier if you do this right from the start. LEARN to only take the best trades. Guess although Iím not a master trader, I am a full advocate of using Day/Week charts to learn.
Complaints/Suggestions for this thread
Thanks to James16 for starting this thread. Thanks to all the posters who have made it the textbook to learn, with thousands of examples, answers to every question, insight on money management and trading styles, and lots of encouragement along the way. I have learned so much about trading in the last 2 months, all from simply reading, studying, reviewing, and applying the principles in this thread. Keep it up everybody, we've really got something amazing here
DislikedThis summary is in no way intended to replace reading the whole thread.
Itís simply a single post where we can draw on information quickly. New members can find most of their answers to questions by simply looking through these posts and attachments. Sorry this is so long, but I think itís pretty thorough, and I think necessary with over 23200 posts and counting.
What is it you want?
DislikedHas this ever happened to anyone...
For split second I almost had an Ah Ha! Moment where I thought I saw the whole trading thing and it slipped away. It was very strange feeling...
Anyways, I'm still in a trading funk that I can't seem to snap out of, but for micro second there I thought I had it figured out...
Not giving up yet, but I sure do what to chuck my computer through the wall.Ignored
DislikedJust a question, and it sort of high lights where I have been struggling lately.
I see that some took the 1 Hour Pinbar trade long on the EURUSD just a few hours ago (previous posts on it).
I was tempted to take it, but I am staying off the 1 hour unless we hit a major support/resistence area. I got burned earlier this week on a pinbar on minor S/R on the AUDUSD.
Anyway, I had the minor S/R drawn and passed on the trade.
The high of the pinbar is 1.2682. So it would have to get to 1.2683 to even break the pin bar.
Yet the high since this...Ignored