I always take note of your analysis Sherm, but I'm a bit surprised you didn't mention the clean break, re-test and rejection of .8000 ?
Attachment
Surely not Shermenator slipping up?
james16 Chart Thread
- #36,182
- Jul 4, 2009 6:48am Jul 4, 2009 6:48am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
But I still think you can make it work if you want it badly enough. Didn't Ryan live dirt cheap for a while until he started to hit good returns?
Josh
My wife and I were seriously considering selling our modest house and downgrading to something smaller and less expensive. Like a very small box as the one we have now isn't that big...LOL Unlike so many others, we didn't buy a house beyond our means or at some ridiculously bloated price. So even in this market we could probably come out a little ahead by selling it.
However, with this CRAP & trade bill, one of the 280 last second amendments states, No house can be sold in the USA unless and until it's brought up to government defined "Green" standards. Even if we could, the investment required to do so would push us FAR over any profit we may have made in this market. Even if the economy were as it was 5 years ago, I think we would still take a loss in selling it. Figures....
...LOL
Ghost Rider - WWTBMD?
- #36,183
- Jul 4, 2009 6:48am Jul 4, 2009 6:48am
- | Joined Feb 2009 | Status: when dreamer meets reality | 1,397 Posts
- #36,184
- Edited 7:44am Jul 4, 2009 7:09am | Edited 7:44am
[quote=ghous;2849796]
the third one which was a 2 bar Pin bar was the weakest among the three...but just goes on to show what PA with the trend can do. The trend was well set by that mighty bearish pin bar, and this PA setup just adhered to it.
Ghous,
Thanks for the charts...Regarding the above statement I am not sure if one could have determined that the trend was well set by the big bearish PB at the time that those two pinbars occurred...It is only after the breakout of the 1.60 area that we can call it a new swing/trend. We can see from chart below that there was support around the 1.60 area which is also the 61.8 of the swing that started on 6/26. From my perspective we could have enter at the break of the second PA or waited for the breakout of the 1.60...either one was a bit risky unless you kept a tight leash and were not shooting for big pips. One question for you.. do you at times look at a higher timeframe to determine a trend during a ranging period at a lower timeframe? I sometimes wonder if it would be safer to enter trades during those ranging periods that are supported by a higher timeframe trend.
Keep up the good work
the third one which was a 2 bar Pin bar was the weakest among the three...but just goes on to show what PA with the trend can do. The trend was well set by that mighty bearish pin bar, and this PA setup just adhered to it.
Ghous,
Thanks for the charts...Regarding the above statement I am not sure if one could have determined that the trend was well set by the big bearish PB at the time that those two pinbars occurred...It is only after the breakout of the 1.60 area that we can call it a new swing/trend. We can see from chart below that there was support around the 1.60 area which is also the 61.8 of the swing that started on 6/26. From my perspective we could have enter at the break of the second PA or waited for the breakout of the 1.60...either one was a bit risky unless you kept a tight leash and were not shooting for big pips. One question for you.. do you at times look at a higher timeframe to determine a trend during a ranging period at a lower timeframe? I sometimes wonder if it would be safer to enter trades during those ranging periods that are supported by a higher timeframe trend.
Keep up the good work
Unus pro omnibus, omnes pro uno
- #36,188
- Jul 4, 2009 8:18am Jul 4, 2009 8:18am
- Joined Feb 2009 | Status: Trader | 1,292 Posts
Trading methods are designed to put the odds in our favor, not predicting.
- #36,191
- Jul 4, 2009 8:42am Jul 4, 2009 8:42am
Could Someone Tell Me His/Her Opinion On This ?
Regards,
Basber
It sounds as if you are burdening yourself with over analysis...of course this is coming from someone who prefers simplicity!
That is my bias; but really the difference in candle patterns is normal and inevitable.. try to focus on the patterns shown and not on comparing them with your own. They will show up on your particular chart sooner or later. I would be more interested in how people deal with their particular situation than trying to match what they did. It seems that some of more popular MT4 platforms... FXPro(gmt+3) and those that are GMT period like ODL etc..Good luck,
Unus pro omnibus, omnes pro uno
- #36,192
- Edited 8:59am Jul 4, 2009 8:46am | Edited 8:59am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Here is something I will definitely be looking to sell this pair in the smaller timeframes if price action is correct...
- #36,193
- Jul 4, 2009 8:51am Jul 4, 2009 8:51am
- | Joined Feb 2009 | Status: when dreamer meets reality | 1,397 Posts
- #36,194
- Jul 4, 2009 8:57am Jul 4, 2009 8:57am
Didn't Ryan live dirt cheap for a while until he started to hit good returns?
Josh
)Ryan lived in his car for a little while I think.
I am pretty sure he didn't have a wife and kids in there with him though.
It's great to dream big. Even if you have a small account yo van make magic with steady monthly returns, small additions to your account and above all else compounding.
For example, if you start with a $5000 dollar account, and can add $100 a month to it. And if you're making 4% a month and compounding it, guess what that is worth in 5 years?
$76,397.21
Then after those five years maybe you can start to add in $200 a month to that account because you're doing so well. Still compounding, and still at 4%, can you imagine what it'll be like after the next five years?
$851,268.32
In ten years.
From $5000.
At 4% a month
With a modest monthly add in
It really is astonishing when you start playing around with compound interest. Truly. Which is why I think the dailies are powerful, and perhaps the 4H if you have a mobile computing solution. Focus on getting a small percentage return every month from about an hour's work a month (that's how long clockwork71 spends). Keep it real simple, don't give up any jobs, have something you can rinse and repeat and manage easily, maybe flipping on your MT4 at every 4H bar close for 5 minutes. Remember you're in this for the long haul.
Have another job that you can do while your account compounds. Doesn't it sound more sensible to compound slowly over time than it does to quit your job and try and turn that 5k into a million over a year?
And if those are the results from 4% a month with a monthly add in over 10 years, can you see how people who claim it's easy to make 20% a week are simply wrong. Sure it can be and is being done but it's incredibly incredibly hard to do it consistently and you have a high chance of either losing your money or burning out.
Two more things:
Imagine the same figures if you started with $10,000. Same 4% a month, same monthly add in:
5 years: $129,995.34
10 years:$1,404,581.05
So this is just a little something to inspire the smaller account holders after all the talk this week. The only thing you have to do is keep in the game financially while you learn. Don't blow out, learn, and let compound interest take care of the rest. Fear and greed are the things to watch.
If you want a fun weekend assignment, play with a compound interest calculator online, and see what one single $100 loss at the beginning of all this can do to your bottom line after ten years. Losses are compounded too over the years in that they become missed profits. There's a reason to respect your small dollar losses if ever there was one.
- #36,195
- Jul 4, 2009 9:00am Jul 4, 2009 9:00am
- Joined Feb 2009 | Status: Trader | 1,292 Posts
... democracy ??? ... This is dictatorship thread !!! ... go search an Iran thread if you want democracy !!!!!
(can't remember this film where I heard it )
) But We Have Nice People That Keeps Us Alive In Here 
Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
- #36,196
- Edited 9:14am Jul 4, 2009 9:03am | Edited 9:14am
- | Joined Feb 2009 | Status: when dreamer meets reality | 1,397 Posts
- #36,197
- Jul 4, 2009 9:13am Jul 4, 2009 9:13am
- | Joined Feb 2009 | Status: Price Stalker | 1,197 Posts
(Again, the following post was sparked by Josh, but not directed at him. He knows all this, it just got me thinking...
Ryan lived in his car for a little while I think.
I am pretty sure he didn't have a wife and kids in there with him though.
It's great to dream big. Even if you have a small account yo van make magic with steady monthly returns, small additions to your account and above all else compounding.
For example, if you start with a $5000 dollar account, and can add $100 a month to it. And if you're making 4% a month and...
Economists have forecast 9 out of the last 5 recessions
- #36,199
- Jul 4, 2009 9:16am Jul 4, 2009 9:16am
- | Joined Feb 2009 | Status: Price Stalker | 1,197 Posts
I'm From Iran, You Bet Here Is Absolout Democracy !! 2 Of My Friends Killed By The Goverment, And 7 Was Captured (I Don't Know Where Are 2 Of Them, There Is No News About Them) And The 3 Of The Others That I Heard About Them Are Hit To Death And They Are In Jail. And I Know Many That Been Hit In Those Days In Streets, Just Calling For Democracy ... Nice Goverment, Ha ?!
Regards,
Basber
Economists have forecast 9 out of the last 5 recessions
- #36,200
- Jul 4, 2009 9:21am Jul 4, 2009 9:21am
- Joined Feb 2009 | Status: Trader | 1,292 Posts
Hello Basber,
It sounds as if you are burdening yourself with over analysis...of course this is coming from someone who prefers simplicity!
Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.