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  • #86,141
  • Edited 11:54pm Apr 15, 2009 11:53pm | Edited 11:54pm
Quoting KillerWhale
You try to find logic?
In a month were all major corporations come out with their 1st quarter earnings releases?
And in a time were we might, or might not, see "glimpses of hope" for the economy?

I wish you luck finding logic my friend

Shamu
Shamu,

Thanks for your concern. I really appreciate.
Believe me there is a logic. I am no sharper, but love to play with if I find one. It is easier to win from cheaters than honest. If there is hope (or its illusion), market will move in one direction. If there is no hope market will move in opposite direction. This is all I look for. This is what going to happen. My system requires no more than that.
The Thief of Wall Street
  • #86,142
  • Apr 15, 2009 11:55pm Apr 15, 2009 11:55pm
I have a new monitor that allows me to see what's going on behind the scenes...

Working great so far.
Attached Image
FUBAR...
  • #86,143
  • Apr 15, 2009 11:57pm Apr 15, 2009 11:57pm
I think we just broke the M15 neckline going short 1.3192 with a 20t s/l.
  • #86,144
  • Apr 15, 2009 11:59pm Apr 15, 2009 11:59pm
Quoting gatorinla
did you take into account the imprisoned, toothless, crazy, and peniel challenged? or are they included in the pool? *L*
Please don't lose hope. You are always welcome.
The Thief of Wall Street
  • #86,145
  • Apr 16, 2009 12:00am Apr 16, 2009 12:00am
Quoting ak4x
I have a new monitor that allows me to see what's going on behind the scenes...

Working great so far.
That's the same hat I got!
Not all sins are created equal
  • #86,146
  • Apr 16, 2009 12:05am Apr 16, 2009 12:05am
I don't get it why bias is so important.
If your bias is a certain way and you trade on it but you have to put in a 200 pip stop to make it work? What sense does that make for anyone other then long term traders. And most of the traders here are not long term traders.
For a "50 pip a day" trader, I think bias is totally unimportant. Just get your 50 pips with a realistic s/l.
How many times do you really get a 250 pip or more trade and bring it to a good end were you really collect 250 pips?
New voice message: Why are you calling me? If I need you, I'll call you!
  • #86,147
  • Apr 16, 2009 12:05am Apr 16, 2009 12:05am
Quoting Chicky
Please don't lose hope. You are always welcome.
ok when i get out of prison... warden lets my get on line to trade his forex account.. little does he know im skimming all his money into my account.i do the books...hes stealing money from the prison and i plan on escaping through a sewer pipe.. leaving the warden responsible for all the missing money..
those who can, do. those who cant, talk about those who can
  • #86,148
  • Apr 16, 2009 12:06am Apr 16, 2009 12:06am
Quoting ak4x
I have a new monitor that allows me to see what's going on behind the scenes...

Working great so far.
I liked the chart. Great creativity.
The Thief of Wall Street
  • #86,149
  • Apr 16, 2009 12:08am Apr 16, 2009 12:08am
Quoting Chicky
I liked the chart. Great creativity.
Wait a minute. But the guy in the picture is dummy? What are you promoting?
The Thief of Wall Street
  • #86,150
  • Apr 16, 2009 12:09am Apr 16, 2009 12:09am
Quoting noyoumaynot0
I think we just broke the M15 neckline going short 1.3192 with a 20t s/l.
Well... either that or you just sold the bottom of a channel.
Attached Image
FUBAR...
  • #86,151
  • Apr 16, 2009 12:11am Apr 16, 2009 12:11am
Quoting Chicky
But the guy in the picture is dummy?
Huh? You talkin to me??
FUBAR...
  • #86,152
  • Apr 16, 2009 12:11am Apr 16, 2009 12:11am
Quoting KillerWhale
How many times do you really get a 250 pip or more trade and bring it to a good end were you really collect 250 pips?
More often than you think.

But I'm a longer term trader
Not all sins are created equal
  • #86,153
  • Apr 16, 2009 12:16am Apr 16, 2009 12:16am
Quoting KillerWhale
I don't get it why bias is so important.
If your bias is a certain way and you trade on it but you have to put in a 200 pip stop to make it work? What sense does that make for anyone other then long term traders. And most of the traders here are not long term traders.
For a "50 pip a day" trader, I think bias is totally unimportant. Just get your 50 pips with a realistic s/l.
How many times do you really get a 250 pip or more trade and bring it to a good end were you really collect 250 pips?
Very good points. I totally understand your point of view

Now let me explain mine

My trading heavily relies on strong support/resistance levels and how price action behaves around those points...what patterns emerge and so on. Now since I dont use any indicators I have to mentally interpret the most likely outcome of what will happen when one of those strong S/R points is reached. Bias is the way to do that...the psychology behind pa and w/e news is coming out that particular day. Doesnt matter what tp target is whether 5 pips or 50pips...those levels of S/R is what gives me entries and my entries are developed through my bias.
Different opinions highly valued, ignorant to slander.
  • #86,154
  • Apr 16, 2009 12:21am Apr 16, 2009 12:21am
Quoting gatorinla
ok when i get out of prison... warden lets my get on line to trade his forex account.. little does he know im skimming all his money into my account.i do the books...hes stealing money from the prison and i plan on escaping through a sewer pipe.. leaving the warden responsible for all the missing money..
That means we can coauthor a romantic action novel. But I am gald you picked the right category for yourself from very limited choice you had.
The Thief of Wall Street
  • #86,155
  • Apr 16, 2009 12:25am Apr 16, 2009 12:25am
Sometimes ranging PA is just ranging PA.

Excerpt from one of the best All Time Posts on Forex Factory...

Quoting clockwork71
Just remember if you are confused, zoom out a time frame or two. If you still are, then leave it the hell alone.

Clockwork
FUBAR...
  • #86,156
  • Apr 16, 2009 12:27am Apr 16, 2009 12:27am
Quoting psiholog
....... my entries are developed through my bias.
Excellent.

If I correctly understand it means that economic conditions set one's bias and technical analysis/chart reading etc. tools help in deciding entry and exit points.
The Thief of Wall Street
  • #86,157
  • Apr 16, 2009 12:30am Apr 16, 2009 12:30am
ok but since im bipolar/ schitzofrantic with false teeth and a pocket full of blue pills... cool.. but i dont have any imagination..at least not enough for book writing.. plus i got bad understanding..
those who can, do. those who cant, talk about those who can
  • #86,158
  • Apr 16, 2009 12:30am Apr 16, 2009 12:30am
Quoting ak4x
Huh? You talkin to me??
Kindly recheck. It's true.
The Thief of Wall Street
  • #86,159
  • Apr 16, 2009 12:30am Apr 16, 2009 12:30am
Quoting Chicky
If I correctly understand it means that economic conditions set one's bias and technical analysis/chart reading etc. tools help in deciding entry and exit points.
Correct (dont forget psychology behind pa in my case). This is why I always say...you put the same chart in front of two different people they will almost always see something different. We may all be aware of the strong S/R levels but while one person may short the other may go long. Thats where strategy comes in and while for some it is based on indicators only, for people like me it is based on ...bias.

Easy example is...lets say this potential h&s I mentioned was an inverted one but my bias was still short. I probably wouldnt take a long position but I may not take a short one either. Its all in the eyes of the beholder
Different opinions highly valued, ignorant to slander.
  • #86,160
  • Apr 16, 2009 12:32am Apr 16, 2009 12:32am
Quoting Jay Walker
More often than you think.

But I'm a longer term trader
For a longer term trader I think it makes perfect sense.
I just wish I had the patience for long term trades, because i really see the opportunities.
Like Monday, the last trade I made before tax season really hit hard, I was short @ 1.3386 with the biggest lot size I've ever made, a fantastic entry point. But as the time went along I put my s/l lower and lower and I finally got stopped out @ 1.3372 for 14 pips gain.
If I would have had my s/l @ b/e and with patience I would have had more than 200 pips.
And my account would have grown more than 30% in just 1 trade.

Shamu
New voice message: Why are you calling me? If I need you, I'll call you!
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