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  • #82,881
  • Apr 2, 2009 8:07pm Apr 2, 2009 8:07pm
This is just an area of resistance surely? Time will tell whether there is enough grunt in this pair to bust through on the upside or not....
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Doing what you like is Freedom. Liking what you do is Happiness.
  • #82,882
  • Apr 2, 2009 8:09pm Apr 2, 2009 8:09pm
Think of a Stop loss as not just to protect profit or save from having too big a loss but as a way to tell you that you whether or not you are wrong about XYZ happening.

If stop loss is hit it is time to reconsider your opinion of which way market is headed.
  • #82,883
  • Apr 2, 2009 8:14pm Apr 2, 2009 8:14pm
I come on this thread to see quite the debate.

Time to get me a bowl and enjoy!

http://3.bp.blogspot.com/_CgejHX7VDO...s320/E7630.jpg

You can also read more about my technical analysis method here
Not all sins are created equal
  • #82,884
  • Apr 2, 2009 8:16pm Apr 2, 2009 8:16pm
Quoting Turveyd
I just HATE the entire predicting the future as far as Forex is concerned, pat yourself on the back when you get it right by coincidence and ignore the times its wrong, people put far too much emphasis on these predictions and Fib Lines and all the rest of the crap thats been IMHO badly taught to the masses to take there money, why do you think 98% lose.

Market is a 50/50 game kinda, there is some wiggle room, crossing a freeway in rush hour opens up a whole new set of variables, if I can pick my time to run over i can maybe get my odds of death...
not saying your right... but lets say you are with all things equal.. if 25% of the people use fibs. then its no longer equal.. this alone increases odds when using fibs to better then 50/50.. wouldnt you agree?
those who can, do. those who cant, talk about those who can
  • #82,885
  • Apr 2, 2009 8:18pm Apr 2, 2009 8:18pm
AK4X, your the 1 being tedious yes your following the standard taught practices of Fib's / Pivot Points, the issue is so is 98% of the people out there and guess what 98% ( or there abouts ) are losing in this game.

If you drew a bunch of random lines onto the chart you'd see the same amount of correlation to your Fib / Pivot Points, that unfortunately is the case, try it!!!

But in your defence, basing trades even on random lines is better for some people than no lines at all, as said trading is more about what you do after the entry than the entry itself.

p.s. I've been trading for along time sometimes profitable, sometimes not and I hate BS and I hate Retail traders being led down the correct way to trade which ultimately always costs them.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #82,886
  • Apr 2, 2009 8:18pm Apr 2, 2009 8:18pm
Quoting Tmac
here ya go

you might need it
*GRIN*
those who can, do. those who cant, talk about those who can
  • #82,887
  • Apr 2, 2009 8:22pm Apr 2, 2009 8:22pm
Quoting Jay Walker
I come on this thread to see quite the debate.

Time to get me a bowl and enjoy!

http://3.bp.blogspot.com/_CgejHX7VDO...s320/E7630.jpg

You can also read more about my technical analysis method here
man im glad is was only trading 1/10 posotions today.. im still short at 3323..
those who can, do. those who cant, talk about those who can
  • #82,888
  • Apr 2, 2009 8:23pm Apr 2, 2009 8:23pm
Quoting gatorinla
not saying your right... but lets say you are with all things equal.. if 25% of the people use fibs. then its no longer equal.. this alone increases odds when using fibs to better then 50/50.. wouldnt you agree?
The self for filling prophecy theory!!

Only if the 25% draw the fibs in the same way, use the same numbers and trade the fibs in the same way.

Sorry I just see a whole stack of lines on the chart and when 1 of them after the fact lines up somewhere near, the Fib Myth is reinforced and away everyone goes trying to trade something that only works after the fact.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #82,889
  • Apr 2, 2009 8:26pm Apr 2, 2009 8:26pm
Quoting gatorinla
man im glad is was only trading 1/10 posotions today.. im still short at 3323..
Very lucky on 1/10th part atleast

Not 1 trade today totally wussed it, went to go long 1min before it's big jump up NFP time and strangely my FXCM Platform logged me out, strange coincidence that ( NOT ), guess just over loaded!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #82,890
  • Apr 2, 2009 8:27pm Apr 2, 2009 8:27pm
think short. I think my system soon will give a short signal.
  • #82,891
  • Apr 2, 2009 8:29pm Apr 2, 2009 8:29pm
Quoting Turveyd
The self for filling prophecy theory!!

Only if the 25% draw the fibs in the same way, use the same numbers and trade the fibs in the same way.

Sorry I just see a whole stack of lines on the chart and when 1 of them after the fact lines up somewhere near, the Fib Myth is reinforced and away everyone goes trying to trade something that only works after the fact.
ok... i think ak is already there though or close and its less then 50 years..but either way its disrespectful to trash his methods just because you dont agree.. he is one of the good guys who goes out his way to help people who ask..
those who can, do. those who cant, talk about those who can
  • #82,892
  • Apr 2, 2009 8:30pm Apr 2, 2009 8:30pm
Quoting Optimum
think short. I think my system soon will give a short signal.
We match up again there interestingly.

Trading sub 4hour failed to break over twice, PA looks like sellers at that level.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #82,893
  • Apr 2, 2009 8:30pm Apr 2, 2009 8:30pm
Quoting gatorinla
ok... i think ak is already there though or close and its less then 50 years..but either way its disrespectful to trash his methods just because you dont agree.. he is one of the good guys who goes out his way to help people who ask..
He may not be for long if that's how it is
Not all sins are created equal
  • #82,894
  • Apr 2, 2009 8:30pm Apr 2, 2009 8:30pm
This is the 1h chart I'm watching tonite including the nearby QP's and minus the MA's I use.

One item of interest is the convergence of the 50% retrace of this current move and M2... it's only a 100 pips below us, and if the DP breaks, I'd watch that area closely.

If you're not already in a trade, it's not a bad night to watch. I have an open short from +3500 and TP is open but I'll see what happens a'rd the DP which I hope to see at a minimum.

My 15m chart has a shaded bar from 3440 to3460. The 21sma is at the top and the 50ema is at the bottom. Those are the trigger points that I'm looking to Break and Clear. The previous spike up did not qualify and we're back in it.

Off for the evening with mrs ak... and one more name on The List. Sorry Jay, it was short story, not a novel. Enjoy your PC...
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FUBAR...
  • #82,895
  • Apr 2, 2009 8:35pm Apr 2, 2009 8:35pm
Quoting gatorinla
ok... i think ak is already there though or close and its less then 50 years..but either way its disrespectful to trash his methods just because you dont agree.. he is one of the good guys who goes out his way to help people who ask..
Not trashing him personally, been around too long seen too many people lose too much money based on these kind of things, don't like to see good people losing money and other good people perpetuating the myth's unwittingly.

I think I'm already there too but time will tell still early days, the addictions gone to trade interestingly recently, but so has the motivation to trade, must make more trade time without distractions!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #82,896
  • Apr 2, 2009 8:36pm Apr 2, 2009 8:36pm
Quoting Turveyd
The self for filling prophecy theory!!

Only if the 25% draw the fibs in the same way, use the same numbers and trade the fibs in the same way.

Sorry I just see a whole stack of lines on the chart and when 1 of them after the fact lines up somewhere near, the Fib Myth is reinforced and away everyone goes trying to trade something that only works after the fact.

Turveyd, fibs, when correctly applied, are a great tool, not an indi, a tool.

The 25% is from what? Where's that study? Experienced traders usually now where to draw their fibs, so i'd guess that number must be near the 100% where it counts (the ones we should be following)

I use every tool that can help me have more certainty in a trade, and fibs have been a part of that for 5 years now, reliably.

Your last paragraph is self-explanatory, maybe (if you wish so) you could study more about fibs before speaking about it, because it shows you don't know what you're talking about, and this isn't about ak4, or any person itself, it's about the tool.
Traders are smartasses
  • #82,897
  • Apr 2, 2009 8:38pm Apr 2, 2009 8:38pm
Quoting ak4x
This is the 1h chart I'm watching tonite including the nearby QP's and minus the MA's I use.

One item of interest is the convergence of the 50% retrace of this current move and M2... it's only a 100 pips below us, and if the DP breaks, I'd watch that area closely.

If you're not already in a trade, it's not a bad night to watch. I have an open short from +3500 and TP is open but I'll see what happens a'rd the DP which I hope to see at a minimum.

My 15m chart has a shaded bar from 3440 to3460. The 21sma is at the top and the 50ema is at the...
dont get the big head and think i was sucking up 2 ya *L* enjoy the night
those who can, do. those who cant, talk about those who can
  • #82,898
  • Apr 2, 2009 8:44pm Apr 2, 2009 8:44pm
Quoting Turveyd
AK4X, your the 1 being tedious yes your following the standard taught practices of Fib's / Pivot Points, the issue is so is 98% of the people out there and guess what 98% ( or there abouts ) are losing in this game.

If you drew a bunch of random lines onto the chart you'd see the same amount of correlation to your Fib / Pivot Points, that unfortunately is the case, try it!!!

But in your defence, basing trades even on random lines is better for some people than no lines at all, as said trading is more about what you do after the entry than the...
Hey dude,

If you don't like fibs and other techs used here that's cool. But why don't you simply go back to one of your own 7 threads (the newest of which you yourself call "your weird little system") with a whopping 202 replies combined (mostly your own) and whine about it there?

ak4x (who is obviously far more intelligent then you'll ever HOPE to be) is exactly right about us new folks looking to learn and for better or worse, THIS is what we've chosen. We did NOT choose to listen to your endless babel that truly goes nowhere. QUIT TAKING UP SPACE!!!

end of rant. I feel better now.
Ghost Rider - WWTBMD?
  • #82,899
  • Apr 2, 2009 8:45pm Apr 2, 2009 8:45pm
Quoting gatorinla
ok... i think ak is already there though or close and its less then 50 years..but either way its disrespectful to trash his methods just because you dont agree.. he is one of the good guys who goes out his way to help people who ask..


Hay Gator
AK is a big boy. Yes I agree with you but, letting some folks run on and on gets right damn entertaining. I may need to come out of my cave a little more often. AK if your still out there see ya
  • #82,900
  • Apr 2, 2009 8:46pm Apr 2, 2009 8:46pm
Just lines on a chart. Weekly and Monthly R1 mid levels and 50% fib () retracement of move down in mid March. Lets see if they hold longer. Notice the weekly pivot too.
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