lol .. after you bro!
Veni, Vidi, Vici (We came, we saw, we conquered)
Cable Update (GBPUSD)
- #146,321
- Jul 15, 2009 4:07am Jul 15, 2009 4:07am
- Joined Mar 2009 | Status: FX | 3,789 Posts
- #146,322
- Jul 15, 2009 4:09am Jul 15, 2009 4:09am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Hey Buddy!!...
Just in case you missed my reply to you last night.....
http://www.forexfactory.com/showpost...stcount=146177
Lucky lines played out beautifully again bro. Last spike down stopped dead at the ltl again did you catch it?
Your wait to short yesterday didn't end in vain
Thank You
- #146,323
- Jul 15, 2009 4:17am Jul 15, 2009 4:17am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
Nice nice!
Lucky lines played out beautifully again bro. Last spike down stopped dead at the ltl again did you catch it?
Your wait to short yesterday didn't end in vain
Bottom line is though, I was looking on the wrong side. That worries me a little. I didn't see this rise like you and BB did.
I entered that last night simply because my "thinking" had been wrong all day waiting to short. I got lucky but that's NOT a good way to trade...
I took 2 lots and just dropped one at 6380, SL on the second one is just below 6320 now so it's working out. But the old saying..."The end doesn't justify the means" is never more true than in Forex.
Ghost Rider - WWTBMD?
- #146,324
- Jul 15, 2009 4:31am Jul 15, 2009 4:31am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
Ghost Rider - WWTBMD?
- #146,325
- Jul 15, 2009 4:35am Jul 15, 2009 4:35am
- Joined Mar 2009 | Status: FX | 3,789 Posts
Veni, Vidi, Vici (We came, we saw, we conquered)
- #146,326
- Jul 15, 2009 4:40am Jul 15, 2009 4:40am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Bottom line is though, I was looking on the wrong side.
Don't worry about it though, it happens to most of us including the hardened traders, yours truly included.
We learn everyday. I hope I didn't offend you bro
Thank You
- #146,327
- Jul 15, 2009 4:40am Jul 15, 2009 4:40am
- Joined Mar 2009 | Status: FX | 3,789 Posts
Veni, Vidi, Vici (We came, we saw, we conquered)
- #146,328
- Jul 15, 2009 4:41am Jul 15, 2009 4:41am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
Al Try using the 4H for trend. In my opinion anything lower than that is noise
Thanks BB. I trade from the 1 & 4. I've never used TL's before (just side to side PPZ's and PA) and as of yesterday, WB is giving me a little crash course on them...LOL
I will try it....
Ghost Rider - WWTBMD?
- #146,329
- Jul 15, 2009 4:43am Jul 15, 2009 4:43am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Think we may be getting to turn around here?
Stay long till proven wrong
Thank You
- #146,330
- Jul 15, 2009 4:45am Jul 15, 2009 4:45am
- Joined Mar 2009 | Status: FX | 3,789 Posts
Veni, Vidi, Vici (We came, we saw, we conquered)
- #146,331
- Jul 15, 2009 4:46am Jul 15, 2009 4:46am
- Joined Jun 2008 | Status: Trader | 1,739 Posts
It's a possibility. But if you're going to use lucky lines to pull off your trades, I'd recommend you to wait for the price to close below the ltl as a confirmation bro.
Stay long till proven wrong
How are you doing, my friend?
- #146,332
- Jul 15, 2009 4:47am Jul 15, 2009 4:47am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
It happens when one tries to pick top/bottom bro. Once we have identified the s/r level it's recommended that we wait to see the reaction at that level instead of jumping in too early. Not many people like the idea of this because when waiting to confirm a reversal it usually would cost us some pips. This is why many people gets fixiated on a certain level and decide to pull the trigger without prior confirmation. If you're familiar with the stuff written regarding trading psychology, this is a glaring example of greed & fear setting in.
Don't...
....you ARE kidding right?.....LOLI'm here to learn to learn brother and you're teaching me. Nothing offensive about that.....
I do wait for PA around the PPZ's I have drawn. I get the strong ones from weekly/daily charts and weaker ones from the 4 & 1 hour. Perhaps my mistake is getting ANY from the 1 hour. The 4H ones seem well respected as mid point PPZ's but I may be adding too much noise with the 1H ones and thus fooling myself into watching those levels.
What-cha think?
Ghost Rider - WWTBMD?
- #146,333
- Jul 15, 2009 4:48am Jul 15, 2009 4:48am
- Joined Mar 2009 | Status: FX | 3,789 Posts
Thanks BB. I trade from the 1 & 4. I've never used TL's before (just side to side PPZ's and PA) and as of yesterday, WB is giving me a little crash course on them...LOL
I will try it....
Veni, Vidi, Vici (We came, we saw, we conquered)
- #146,334
- Jul 15, 2009 4:51am Jul 15, 2009 4:51am
It happens when one tries to pick top/bottom bro. Once we have identified the s/r level it's recommended that we wait to see the reaction at that level instead of jumping in too early. Not many people like the idea of this because when waiting to confirm a reversal it usually would cost us some pips. This is why many people gets fixiated on a certain level and decide to pull the trigger without prior confirmation. If you're familiar with the stuff written regarding trading psychology, this is a glaring example of greed & fear setting in.
Don't...
. 2nd short hit sl at 6380 . Then I shorted at 6345 without confirmation . Now I'm sticking to confirmation even if it's going to lose me some pips. Do u think it's best to use 1h or 4h tf for confirmation?
- #146,335
- Jul 15, 2009 4:56am Jul 15, 2009 4:56am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Good to see you still dispensing such quality advice, Azim.
How are you doing, my friend?
Paying my dues bro
I'm doing okay thanks. Haven't seen you in a while, missing the good stuff from you. How's trading treating you?
Thank You
- #146,336
- Jul 15, 2009 4:57am Jul 15, 2009 4:57am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
It's a possibility. But if you're going to use lucky lines to pull off your trades, I'd recommend you to wait for the price to close below the ltl as a confirmation bro.
Stay long till proven wrong
Did I draw this one on the 4H correctly in your views?
I know there are more to draw from yesterdays class but....LOL...one step at a time for this old carpenter...
Ghost Rider - WWTBMD?
- #146,339
- Jul 15, 2009 5:05am Jul 15, 2009 5:05am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
I'm with you there Wormie, I did 10K US within the first 2 months of my trading as a beginner. We all live and learn.
Thank You
