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  • #1,561
  • Apr 1, 2009 9:26pm Apr 1, 2009 9:26pm
Quoting nazeri1111
Hei Lance

I just following up this tread and think that the index created by you is helping a lot . Can I know which excell version you are using to creating it? The file that I download to was showing an error message. Probably due to that I am using an excel version 2002. May be that I need to upgrade my version to be same as yours.

Again thanks as lot Lance and also to those contibuting to this tread. Right now I am following up 3 treads closely i.e Jacko, James16 & Strat's.

Nazeri
Check the first post. Click the link. I did a web site this weekend to make things a little easier. Thanks man, welcome.

Let me know if you have any issues. I'll be glad to help.
  • #1,562
  • Apr 1, 2009 10:12pm Apr 1, 2009 10:12pm
Quoting rogueforex
Check the first post. Click the link. I did a web site this weekend to make things a little easier. Thanks man, welcome.

Let me know if you have any issues. I'll be glad to help.
wow that is very cool lance,

you have done and are doing a great job

cheers
geoff
  • #1,563
  • Apr 1, 2009 10:28pm Apr 1, 2009 10:28pm
Quoting geoffrod
wow that is very cool lance,

you have done and are doing a great job

cheers
geoff
Thank you. Sincerely.
  • #1,564
  • Apr 1, 2009 10:31pm Apr 1, 2009 10:31pm
Hi Lance,

went to the new website. I must say you are good man. congrats. may this thread brings up good trader with all the contribution from members.

regards,
riff
  • #1,565
  • Apr 1, 2009 10:33pm Apr 1, 2009 10:33pm
Quoting geoffrod
wow that is very cool lance,

you have done and are doing a great job

cheers
geoff
Post your chart. It looks great. Explain your thinking.
  • #1,566
  • Apr 1, 2009 10:45pm Apr 1, 2009 10:45pm
Quoting riff
Hi Lance,

went to the new website. I must say you are good man. congrats. may this thread brings up good trader with all the contribution from members.

regards,
riff
Here's what I would encourage. We are just taking the first step in a very long journey. We have (1) a great leader, intelligent, and humble; and (2) the start of a great team.

We need to buy in and build a team of traders that follow a single system and promote the success of everyone else in the team.

Strat has offered and organized a system for us all to continue down and has been generous with his time and "straight forward" opinion. We need to realize we have an opportunity here and take advantage of it.

If you are interested in building this team, learning the correct way to trade and giving back to newer traders that are at a point we have all been; then let me know and I will register you in the movement and start you down the path to learning.

I look forward to the lessons that come.

Lance
  • #1,567
  • Apr 1, 2009 10:55pm Apr 1, 2009 10:55pm
Quoting rogueforex
Post your chart. It looks great. Explain your thinking.

ok so i am posting a chart i was doing whilst having my nose to the grindstone, it may be totally wrong but i will put it out here for others to look at in the hope i can learn some more.

the chart is of the NZD/USD

the price action candle isn't perfect, but it is at a confluence, and it
is above the Boss 20
somthing tells me this could come back further though, and it may even give me a better feeling about it if it did,but i guess this is
where you could be wrong until it tells you otherwise.
i guess this is where scaling in to a position would be a possibility as well.

anyway please go easy on me, i have been doing my homework and whilst it is getting easier to see good trades in hindsight, this was one i picked that was more here and now.

cheers
Geoff
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nzdusd 02april2009.gif Size: 18 KB
Click to Enlarge Name: nzdusd 02april2009with target.gif Size: 19 KB
  • #1,568
  • Apr 1, 2009 10:59pm Apr 1, 2009 10:59pm
Quoting rogueforex
Check the first post. Click the link. I did a web site this weekend to make things a little easier. Thanks man, welcome.

Let me know if you have any issues. I'll be glad to help.
I got it man... No word can describe how appreciate I am to what you did right now. Please continue
  • #1,569
  • Apr 2, 2009 12:43am Apr 2, 2009 12:43am
Hi Y'all

I'm flat until next week. NFPs are a printing press for the brokers, although I do have a news trading strategy that MP1040 taught me over on t2w - but I'll leave that until later on should anyone be interested - just involves PA and SR lines (funny old thing).
Nic and I discussed oil last night and decided against it on the grounds of RR not being good enough. (Cheers Nic!)
Thanks for the excellent notes from the journals too Strat - some sound advise in amongst those notes!
Good tradin' all!
Weaselidge - Grim!
Trade less and become more profitable!
  • #1,570
  • Apr 2, 2009 1:11am Apr 2, 2009 1:11am
Piercing line on yesterday's bar. Buy stops on top of the PL candle with stops below form a nice Phase One entry. The institutions are putting out the bait, take it or leave it!


http://img5.imageshack.us/img5/5107/eurchf.gif
Bang.
  • #1,571
  • Apr 2, 2009 4:52am Apr 2, 2009 4:52am
Confession Time - I married a trade.

23/03/09, I got married to a trade. It started off so well, we had such fun, we went higher than we'd every been before. But then things started to get bad. We both knew we should have ended then but we hung on, hoping that the sparkle would return. It didn't. It got worse but still we clung on in the hope of a return to the highs. I couldn't sleep, I was always angry but I didn't know what to do. I was too embarrassed to end it. What would the neighbours think? In the end the pain was too much, I no longer cared and we got divorced. It hurt me bad. I get frustrated now seeing all the other couples having a fling, hitting new highs whilst I was stuck in this dead end marriage.

On the plus side, its over new, I'm ready for my next fling. But it will only be a fling, once I've had my fun I'm gone. Call me 'shallow', I don't mind.

--------------

In a nutshell, long GBPJPY on break of highs @142, went +250, let it slip to -300. Lesson learnt. Thankfully I'm not the sort to risk too much % per trade. Annoyingly also, when I was bailing out there was a chance to get back in a few hundred better than my original price.
  • #1,572
  • Apr 2, 2009 4:57am Apr 2, 2009 4:57am
Quoting Bloom
Confession Time - I married a trade.
Yup, know that feeling this week, i married a real stunner, had everything going for her, we had a great honeymoon but as soon as we were back home, she changed...i promised i'd give her time though although i'm beginning to wonder if we have made a mistake.

(CHFJPY)

Great analogy Bloom
  • #1,573
  • Apr 2, 2009 6:23am Apr 2, 2009 6:23am
Quoting AstonDan
Yup, know that feeling this week, i married a real stunner, had everything going for her, we had a great honeymoon but as soon as we were back home, she changed...i promised i'd give her time though although i'm beginning to wonder if we have made a mistake.

(CHFJPY)

Great analogy Bloom
guys guys guys and girls, you need not get so attached to these flusey's, set the ground rules straight up, there is no future after the bell tolls, cut and run, get out before the hooks go in!!!!

lol
  • #1,574
  • Apr 2, 2009 11:19am Apr 2, 2009 11:19am
Quoting elitejets
It is a good looking shooting star for sure but I am long USDCAD from last week and that good looking shooting star is not going to tempt me out (yet) or tempt me short! Momentum is momentum and the boss still says up to me!
Nice try, I heard it was April Fools today!!

Nicola
Well the joke was on me and Im stopped out of CAD... I should have listened to the other Bosses (Strat & Lance) and got out of Dodge when I saw that hammer on the daily!
It was a nice short for anyone who took it.
Im flat now for NFP
Nicola
  • #1,575
  • Apr 2, 2009 11:22am Apr 2, 2009 11:22am
Quoting elitejets
Well the joke was on me and Im stopped out of CAD... I should have listened to the other Bosses (Strat & Lance) and got out of Dodge when I saw that hammer on the daily!
It was a nice short for anyone who took it.
Im flat now for NFP
Nicola
I took it. 3 lot trade. Three targets. Defined plan. Good all the way!

I'm also flat now as CHFJPY finally filed for divorce!

Ha, on we go

Addition: Sorry to all, this is not a PIP count brag - but a set plan followed brag.
  • #1,576
  • Apr 2, 2009 11:29am Apr 2, 2009 11:29am
Quoting riff
Dear Strat,

Books and preachers of candlestick highlighted that on our GBPJPY is a long legged doji or hanging man (depends on broker feeds).

I took my long on monday at (sorry for ignoring the daily close rule as my gut was allowing me to pursue it plus no stress on butt ring either) 136.76.

My analysis was :- (to wait)

1) the price hit the ema 50 on the 12/3/2009 and the abrupt price on monday may hit another 50's wall as well. (lucky me it did).

2) Good parallel line of the 20 & 50 to north. thus indicated the UT moves still on.

3)...
Not exactly the safest of entries but it worked out well for you. A more cautious entry would have been to wait for the close above the 20 and support. Your analysis and thinking is sound though.

It has broken through the top of an ascending triangle which is a bullish sign. It is being held back by psycho 147.00 and if it breaks through that there is a clear road ahead to 153.00.

I'm not sure this week's moves are real or fades resulting from this week's events.

Good job, riff
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,577
  • Apr 2, 2009 11:47am Apr 2, 2009 11:47am
Quoting geoffrod
ok so i am posting a chart i was doing whilst having my nose to the grindstone, it may be totally wrong but i will put it out here for others to look at in the hope i can learn some more.

the chart is of the NZD/USD

the price action candle isn't perfect, but it is at a confluence, and it
is above the Boss 20
somthing tells me this could come back further though, and it may even give me a better feeling about it if it did,but i guess this is
where you could be wrong until it tells you otherwise.
i guess this is where scaling in to a position...
Slowly does it, Geoff, no rush.
Your analysis is good - the 20 and BOSS 20 are supporting prices PLUS a major support 0.5550. If you want to call it a target that's fine but yes, the next major resistance is at psycho 0.5900

With regard to your charts, there seems too many S&R lines - only add those where there previously has been confluence of support and resistance or lots of congestion. Also your chain dotted lines are too bold and strong for me and take my eyes and focus off the candles. It's like viewing through shutter blinds.

Also, I don't understand your trend lines - have you been taking lessons from Baba G - seems like they are floating
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,578
  • Apr 2, 2009 12:42pm Apr 2, 2009 12:42pm
Through the good times and the bad.........many battles my be lost but its the war we are interested in......

review your wins or losses,entry,exit ect...Can you answer some of your managment issues?risk profile? you know.

look at price action and get as much info out as possible from your win or loss........then..........


NEW BALLS cause were back on sunday night(gmt)
  • #1,579
  • Apr 2, 2009 12:55pm Apr 2, 2009 12:55pm
Quoting Bloom
Confession Time - I married a trade.

23/03/09, I got married to a trade. It started off so well, we had such fun, we went higher than we'd every been before. But then things started to get bad. We both knew we should have ended then but we hung on, hoping that the sparkle would return. It didn't. It got worse but still we clung on in the hope of a return to the highs. I couldn't sleep, I was always angry but I didn't know what to do. I was too embarrassed to end it. What would the neighbours think? In the end the pain was too much, I no longer...
Bloom, just when I thought you were moving forward you go and do this on me! It takes a big man to stand up and tell us what you did so that will help in your healing process plus making fun of it helps too. Amazing how they turn out to be bitches after you marry them!

Well mate, you are not alone in what you did, neither are you the first and you definitely won't be the last. Remember that it is all part of the learning process. I don't know anybody who has not had to go through this. It took me a long time to learn on this one as I kept doing it over and over.

My problem was with "being right" - I always believed "I" was right and, subconsciously, the market was wrong. I believed I had got my analysis and everything right and that eventually the market would have to turn round and follow me so I kept moving my stop away to give it more room.

It wasn't until I accepted that "I" will NEVER be right and that the only one who is right is the Queen, the market. This is the case of your ego controlling your logic and common sense. Recognise it now, Bloom, and let it go. From now on, don't worry about being right, in fact, stop worrying altogether. It doesn't matter who is right and who is wrong - the ONLY thing that matters is making money.

So, let's take a closer look at your trade.

First, Bloom, did you have a PLAN? If not, why not?

Did you measure your risk before you placed your trade? Where would your SL go? How much risk was that? Did you accept that risk? Did you feel comfortable losing that amount? Did you know where the next level of resistance was? Did you have a target?

You entered on a break out of highs which is not really price action, it is more pattern trading, but still an OK entry. I'm not too keen on breakout trades unless they are "add ons". I like my first trade to be based on pure, solid, price action.

Right, you got filled. Then what? Were you dreaming of what you were going to do with all your lubbly jubbly? Did you enter your SL? Where did you put it?

You saw the long bullish bar on which you got filled - what were you thinking at that time? If you didn't have a target or a resistance level identified you should have AT LEAST been looking to the LEFT of where that long bullish bar closed.

The frustrating thing, Bloom, is that prior to this I had already posted a couple of times about the psycho 145.00 being STRONG RESISTANCE for GBPJPY.

Let's assume you were in la la land and missed all that. The next day, March 24, threw out a shooting star at 8 pips above the previously identified resistance. Did you see that? Did you know what it was telling you? Do you know what a shooting star type candle is and what it tells you? You should have protected your profits by moving your SL to a few pips below the low of the shooting star.

If you were still asleep at the switch, the next day, March 25, produced a candle which confirmed the previous candle as a SWING HIGH - in other words, we have now moved into a NEW, down swing - YOUR up swing is OVER! You should have at least, closed out your position on the daily close and got out with a few pips

After that, you were in pain hoping that you were right and everyone else was wrong until you could stand it no more.

Bloom, there are so many things wrong with this trade logically, common sense wise and trading wise except there was nothing WISE about it.

"On the plus side, its over new, I'm ready for my next fling. But it will only be a fling, once I've had my fun I'm gone. "

If this is your attitude, then here is the root cause of your problems, Bloom. You are treating it as a game, something to play with. Until you recognise this as a serious business and treat it as a business, then you will never move forward.

You have already invested a lot of time, effort and money into trading here and on the other place. Don't give up. Accept you are NOT as good as you think you are and step back a few paces and re-learn BUT this time, with your business hat on.

Bloom, you can do it. Don't give in. Get back to me with your answers and let's wring the devil out of you.

NOTE TO OTHERS:
Share your similar experiences and how YOU got over this so that Bloom knows there IS light at the end of his tunnel. Thank you.
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,580
  • Apr 2, 2009 1:00pm Apr 2, 2009 1:00pm
Quoting AstonDan
Yup, know that feeling this week, i married a real stunner, had everything going for her, we had a great honeymoon but as soon as we were back home, she changed...i promised i'd give her time though although i'm beginning to wonder if we have made a mistake.

(CHFJPY)

Great analogy Bloom
Life's a bitch......................and then you marry one!
15 YEARS OF PASR ON FOREX FACTORY!
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