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  • #81,481
  • Mar 30, 2009 11:04pm Mar 30, 2009 11:04pm
Quoting Jay Walker
Since you managed to catch some z's, do you have a few spare ones for me?
na man you need to keep ass suction on the seat.. im with ya if if breaks 33 something with some strength.. but where its at now im burning black candles and toads hair...looking for gravitational pull...
those who can, do. those who cant, talk about those who can
  • #81,482
  • Mar 30, 2009 11:06pm Mar 30, 2009 11:06pm
Quoting Jay Walker
That's Ak. He is that good.
.
Attached Image
FUBAR...
  • #81,483
  • Mar 30, 2009 11:08pm Mar 30, 2009 11:08pm
Ancient North Korean Proverb...

"A broken clock is still right twice a day."
FUBAR...
  • #81,484
  • Mar 30, 2009 11:08pm Mar 30, 2009 11:08pm
Quoting ak4x
.
what time frame?
those who can, do. those who cant, talk about those who can
  • #81,485
  • Mar 30, 2009 11:08pm Mar 30, 2009 11:08pm
Quoting Jay Walker
Thanks Suj. I know that saying is common and while I know that most fail, I still have doubts about it being 95%.

What if someone tries Forex and say he decides that stocks works better for him? Does that count as someone who failed at Forex because he moved on to what he feels is a better thing? What about someone who did well but dropped out for whatever reason? Does that count as a fail?

I think you get what I'm trying to say. But thanks again for the links. They will help me get to my own conclusions
trading .1 - .3 of a lot (or less if on a micro account)
using a stop
using a limit
not being "greedy"
not overtrading

follow those simple rules and u will do "ok"

I have had dozens of successful trades in a row only to wipe out my profits and then some with ONE or TWO stupid trades and then going in for the third fourth and fifth MORON trades trying to play "catch up"

on a day like today (this morning mainly) when the market is ranging nice....u can make 100+ pips if you pay attention.
--post hoc ergo propter hoc--
  • #81,486
  • Mar 30, 2009 11:11pm Mar 30, 2009 11:11pm
resistance of 1.3250+ remains . . i think london will decide a break or respect of this line .. imho
  • #81,487
  • Mar 30, 2009 11:12pm Mar 30, 2009 11:12pm
As someone new to this I ask...

Is there a particular time of day to stay away? In other words, is there a tendency for large unpredictable swings (high volatility) at certain times whereas it's better to just stay away?
  • #81,488
  • Mar 30, 2009 11:15pm Mar 30, 2009 11:15pm
Quoting 2 + 2 = 4ex
As someone new to this I ask...

Is there a particular time of day to stay away? In other words, is there a tendency for large unpredictable swings (high volatility) at certain times whereas it's better to just stay away?
Friday

Saturday

Sunday

July 4th

Christmas

New Year's Eve

New Year Day
Not all sins are created equal
  • #81,489
  • Mar 30, 2009 11:16pm Mar 30, 2009 11:16pm
Quoting david_akc
Just asking?

Check out the larger reverse HS on the 30m chart.
  • #81,490
  • Mar 30, 2009 11:17pm Mar 30, 2009 11:17pm
Quoting Monk
trading .1 - .3 of a lot (or less if on a micro account)
using a stop
using a limit
not being "greedy"
not overtrading

follow those simple rules and u will do "ok"

I have had dozens of successful trades in a row only to wipe out my profits and then some with ONE or TWO stupid trades and then going in for the third fourth and fifth MORON trades trying to play "catch up"

on a day like today (this morning mainly) when the market is ranging nice....u can make 100+ pips if you pay attention.
one thing i learned is you dont have to trade...enter at your price with clear rules when to enter why you enter and when your getting out.. write down each good are bad trade... study what to do what not to do.. and what you have no control of... write down your plan and staple it to your forehead..this way you wont forget it..
those who can, do. those who cant, talk about those who can
  • #81,491
  • Mar 30, 2009 11:17pm Mar 30, 2009 11:17pm
Quoting Jay Walker
Friday

Saturday

Sunday

July 4th

Christmas

New Year's Eve

New Year Day
how about mondays? mondays can be bad too jay bro
  • #81,492
  • Mar 30, 2009 11:18pm Mar 30, 2009 11:18pm
I can't play on saturday and sunday (actively), so I guess that's good.

Looks like one of the coneheads has their arm up!
  • #81,493
  • Mar 30, 2009 11:18pm Mar 30, 2009 11:18pm
Quoting 2 + 2 = 4ex
As someone new to this I ask...

Is there a particular time of day to stay away? In other words, is there a tendency for large unpredictable swings (high volatility) at certain times whereas it's better to just stay away?
well...it can get crazy at anytime....
read babypips.com to find out best market hours.
London starts soon...which then overlaps into the NY session.
All depends on the pair you are trading....but as u will soon learn...its a global economy...so one pair can effect others.

News days are best to try and stay out....or at least the hour or so before and after big news releases. very hard to trade some of them.

This week there are several coming up.

Click on the calendar link at the top of this site to see whats news is coming out this week
--post hoc ergo propter hoc--
  • #81,494
  • Mar 30, 2009 11:18pm Mar 30, 2009 11:18pm
Quoting 2 + 2 = 4ex
As someone new to this I ask...

Is there a particular time of day to stay away? In other words, is there a tendency for large unpredictable swings (high volatility) at certain times whereas it's better to just stay away?

http://www.babypips.com/images/market-hours/hours-3.gif
  • #81,495
  • Mar 30, 2009 11:18pm Mar 30, 2009 11:18pm
Quoting david_akc
Just asking?
What I do before I recognize ANY shampoo is click on "Charts> Line Chart" on your toolbar and see if it still looks like a valid pattern. Some are very easy to see with candles, others are not becuz of spikey wicks that really skew the pattern and can screw the trader as well.

The line style helps to filter out that noise, especially on low TF 's like this one. The high TF shampoos can usually be identified easily, but the line style will make finding an accurate neckline MUCH easier.

Try it on your chart before it gets too far on and see if it helps. Draw your neckline, then toggle back to the candle style and see what you think.
FUBAR...
  • #81,496
  • Mar 30, 2009 11:18pm Mar 30, 2009 11:18pm
Quoting 2 + 2 = 4ex
As someone new to this I ask...

Is there a particular time of day to stay away? In other words, is there a tendency for large unpredictable swings (high volatility) at certain times whereas it's better to just stay away?
the obvious answer is stay out at ANY time when your strategy has not come into play or you may have doubts about future direction. Proper MM also helps with this if you are already commited to the markets.


the other answer is right before, during, and right after news releases of high impact. however..other then fed announcements and data releases...there are plenty of high impact news we are not aware of until AFTER they were announced by which time if you were in the market..you were either stopped out or got lucky on a take profit.

to conclude...stick to your strategy and you will always find the right time.
Different opinions highly valued, ignorant to slander.
  • #81,497
  • Mar 30, 2009 11:19pm Mar 30, 2009 11:19pm
Quoting F.x.
Check out the larger reverse HS on the 30m chart.
and a normal one right behind it
those who can, do. those who cant, talk about those who can
  • #81,498
  • Mar 30, 2009 11:21pm Mar 30, 2009 11:21pm
Quoting trading801
how about mondays? mondays can be bad too jay bro
If you're long when you should be short.

If you're short when you should be long.

Then bad trading days would be Monday, Tuesday, Wednesday, Thursday, Friday, Saturday and Sunday.
Not all sins are created equal
  • #81,499
  • Mar 30, 2009 11:23pm Mar 30, 2009 11:23pm
Quoting Jay Walker
Thanks Suj. I know that saying is common and while I know that most fail, I still have doubts about it being 95%.

What if someone tries Forex and say he decides that stocks works better for him? Does that count as someone who failed at Forex because he moved on to what he feels is a better thing? What about someone who did well but dropped out for whatever reason? Does that count as a fail?

I think you get what I'm trying to say. But thanks again for the links. They will help me get to my own conclusions
I think the 95% figure acts like a symbol. Forex trading aint easy...you and i should know this better. I have ignored to educate myself before and failed many many times until i decided to look for the "first aid".

Forex trading or any trading in general is just as hard. Forex being the most liquid market means its the most widely traded market. My experience says failure rate is the same for stocks, futures, forex, options if you don't have proper knowledge and education.

Cheers
Collecting pips
  • #81,500
  • Mar 30, 2009 11:23pm Mar 30, 2009 11:23pm
Quoting Monk
well...it can get crazy at anytime....
read babypips.com to find out best market hours.
London starts soon...which then overlaps into the NY session.
All depends on the pair you are trading....but as u will soon learn...its a global economy...so one pair can effect others.

News days are best to try and stay out....or at least the hour or so before and after big news releases. very hard to trade some of them.

This week there are several coming up.

Click on the calendar link at the top of this site to see whats news is coming out this week
Thanks Monk! I trade only the EUR/USD which is why I came to this thread first hehe. So far I like this thread. It has been good advice mixed with some good humor. I am in 1st grade in the babypips website. I hope to someday graduate valedictorian!

Good luck all!
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