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We all need pivots to win..yes or not? 13 replies

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The System II (Yes with irony)

  • #3,501
  • Aug 7, 2009 10:56am Aug 7, 2009 10:56am
Another short, market chose direction after NFP it seems.
Please, do not shout at me again if I am wrong.
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Survive and Preserve
  • #3,502
  • Aug 7, 2009 11:02am Aug 7, 2009 11:02am
Quoting DareXau
crazy market - good market, ... but have to be as quick as changing weather in Melbourne
market just like women, they can change anytime, we just dont know it
  • #3,503
  • Aug 8, 2009 6:40am Aug 8, 2009 6:40am
long option/short option
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  • #3,504
  • Aug 8, 2009 7:34am Aug 8, 2009 7:34am
Quoting moneda
good day to all of you....

I wanna humanize me a little bit on this forum....

Jplo and others,

Friday can be a slow trading day(except today) so I went through some of my photos and came up with this one... I hope that it helps you visualize me when I post.
Mr. Bean is that really you?...
  • #3,505
  • Aug 8, 2009 1:34pm Aug 8, 2009 1:34pm
Quoting Aad
Mr. Bean is that really you?...

Aad,

Hmmm... I think you are right! Some people's faces don't change much over the years!
Unus pro omnibus, omnes pro uno
  • #3,506
  • Aug 8, 2009 5:51pm Aug 8, 2009 5:51pm
Hello everyone,
I am going to put out a simple question.. give your answer with your reasoning behind it please. I would like for everyone to participate.. newbies.. midtermers.. veterans and all.
Thanks for your effort in advance.

With our way of trading.. when scalping the 5m timeframe.. to be profitable.. should we care and find it vital that the 5m chart does not show the overall picture of the market? If no, explain why? if yes, explain why?

Thank you.
  • #3,507
  • Aug 9, 2009 3:34am Aug 9, 2009 3:34am
My answer and thought would be no. Actually I feel like we trying to ride the direction the market picks. Instead of predicting it. I hope that makes sense? We not trading what we thinking but riding the direction the big players are taking.

Anyways that is my thought pattern. Besides, a simpler answer would be, because Feb told us all I need is to worry about the 5 min graph, and to put it bluntly , I am the student, not the master. > i am not going to question.

But not to forget about keeping your head on the ground with regards to macro news of course.
Survive and Preserve
  • #3,508
  • Aug 9, 2009 4:08am Aug 9, 2009 4:08am
Quoting fxachilies
Hello everyone,
should we care and find it vital that the 5m chart does not show the overall picture of the market? If no, explain why? if yes, explain why?
No, because we are not trading the big picture. On longer timeframes the market may be going up, it may be going down but within that overall trend it makes significant movements both up and down and it is those that we are seeking to trade profitably.
Too tired to argue. Too old to care.
  • #3,509
  • Aug 9, 2009 4:11am Aug 9, 2009 4:11am
We trade the "now" , most recent price action using market structure..... and we dont try to predict so i guess the reply is no....
  • #3,510
  • Edited 7:28am Aug 9, 2009 4:57am | Edited 7:28am
.
  • #3,511
  • Aug 9, 2009 1:07pm Aug 9, 2009 1:07pm
Quoting fxachilies
Hello everyone,
I am going to put out a simple question.. give your answer with your reasoning behind it please. I would like for everyone to participate.. newbies.. midtermers.. veterans and all.
Thanks for your effort in advance.

With our way of trading.. when scalping the 5m timeframe.. to be profitable.. should we care and find it vital that the 5m chart does not show the overall picture of the market? If no, explain why? if yes, explain why?

Thank you.
I thought about this many times, I tested it too. I noticed that I lost many trades and missed a lot too. I think we just don't need to know the overall picture of the market with this style it will only complicate something which should be and is simple.

Cheers
  • #3,512
  • Aug 9, 2009 2:01pm Aug 9, 2009 2:01pm
Quoting jplo
jejeje ....
I think it can help to know each other face.....
At the end of the day, believed or not, we spend more time talking to each other here, than with some friends of us who live in the same city......

Hey Jplo,

Nice touch, I agree.
Survive and Preserve
  • #3,513
  • Aug 9, 2009 2:12pm Aug 9, 2009 2:12pm
Quoting fxachilies
Hello everyone,
I am going to put out a simple question.. give your answer with your reasoning behind it please. I would like for everyone to participate.. newbies.. midtermers.. veterans and all.
Thanks for your effort in advance.

With our way of trading.. when scalping the 5m timeframe.. to be profitable.. should we care and find it vital that the 5m chart does not show the overall picture of the market? If no, explain why? if yes, explain why?

Thank you.
Hey fx and all you guys,

I was not really able to take part in the thread last week, but have caught up with the various comments and posts and would like to add my thanks to fx and the major contributors who have done so much to help people understand what is going on here. I for one really appreciate it.

To answer your question, my perspective and understanding is that we are simply applying an almost mathematical logic to the entry of the trade and as such we don`t need to take account of anything other than seeing that setup take place and then pulling the trigger.

I am not sure that this relates at all to finding it vital that the 5m shows me the overall picture of the market. The overall picture will differ timefrane to timeframe and as we have said we are just looking for setups within 5 mins. If I get a 1,2,3, then I am on it, long, short, large ATR, low ATR, before news, just after news, I am taking every trade as we have agreed it is by taking all of the signals and setups that you will catch the runners.

Maybe I have not grasped entirely the true question behind what you have written, but for me what I have quoted is how I see what we are doing.

Thanks
Survive and Preserve
  • #3,514
  • Aug 9, 2009 2:17pm Aug 9, 2009 2:17pm
Quoting fxachilies
With our way of trading.. when scalping the 5m timeframe.. to be profitable.. should we care and find it vital that the 5m chart does not show the overall picture of the market?
Hello FxAchilies and others,
I don't fully understand your question, but here is my take nevertheless:

I assume with "overall picture of the market" you mean a higher TF. Then, the 5min chart is just the HD version of the higher TF - so it does show you the overall picture of the market.

If you ask, whether using a higher TF to support Feb style trading will make a trader (more) profitable or unprofitable, then, I can only say that it solely depends on the trader. Profitability will come if either a trader can adjust to a trading method, or if a trader adjusts a trading method to him/herself. In both cases the trading method must have positive expectancy. So, to come back to your question, to some it will add confusion, to others it will add valuable information.

What is your answer? I assume "no", but it would be nice to hear your opinion anyways.
  • #3,515
  • Aug 9, 2009 4:42pm Aug 9, 2009 4:42pm
With our way of trading.. when scalping the 5m timeframe.. to be profitable.. should we care and find it vital that the 5m chart does not show the overall picture of the market? If no, explain why? if yes, explain why?HELLO EVERYONE, REGARDING THE QUESTION ABOVE, FOR THIS WAY OF TRADING I FIND NOT IMPORTANT TO KNOW THE OVERAL PICTURE OFF THE MARKET BECAUSE WE ARE TRADING MOMENTUM WE TRADE THE NOW... WE JUST TRY TO FOLLOW THE FLOW THAT´S IT. FOR EXAMPLE JUST BECAUSE WE SEE A RESISTANCE ON THE H1 CHART DOESN´T MEAN THE MARKET WILL STALL THERE AND FALL, SO I WILL NOT GO SHORT BASED SOLELY ON THIS , BUT I WILL IF I SEE FOR EXAMPLE A QUALIFIED SWING DOWN LIKE FEB SAYS (30 OR 40 PIPS) THEN I WILL BE LOOKING FOR MY SHORT ENTRY, AND FOR THAT WE DONT NEED TO WATCH OVERALL PICTURE OFF THE MARKET...I JUST GO WITH THE FLOW.

DARE AND FAXCHILITIES THANKS A LOT FOR THIS THREAT LEARNING A LOT FROM YOU GUYS

REGARDS...
  • #3,516
  • Aug 9, 2009 4:50pm Aug 9, 2009 4:50pm
Quoting Thenew
With our way of trading.. when scalping the 5m timeframe.. to be profitable.. should we care and find it vital that the 5m chart does not show the overall picture of the market? If no, explain why? if yes, explain why?
HELLO EVERYONE, REGARDING THE QUESTION ABOVE, FOR THIS WAY OF TRADING I FIND NOT IMPORTANT TO KNOW THE OVERAL PICTURE OFF THE MARKET BECAUSE WE ARE TRADING MOMENTUM...
broken caps lock button?
  • #3,517
  • Aug 9, 2009 4:58pm Aug 9, 2009 4:58pm
Well tryng to save my keyboard from getting to much used...Are you with FXCM ? Hope you doing well.

Regards...
  • #3,518
  • Aug 9, 2009 8:36pm Aug 9, 2009 8:36pm
Quoting fxachilies
Hello everyone,
I am going to put out a simple question.. give your answer with your reasoning behind it please. I would like for everyone to participate.. newbies.. midtermers.. veterans and all.
Thanks for your effort in advance.

With our way of trading.. when scalping the 5m timeframe.. to be profitable.. should we care and find it vital that the 5m chart does not show the overall picture of the market? If no, explain why? if yes, explain why?

Thank you.
Hi FX,
Interesting to see everyones answers, I think no since we are only focused on the shortterm price movements, we do need to concern ourselves with what is happening longer term. In fact by allowing ourselves to be distracted with other time frames, we are likely to NOT take trades we should by worrying about what is happening in other timeframes. I know this because I have been guilty of this myself.

Regards everyone
  • #3,519
  • Aug 9, 2009 8:51pm Aug 9, 2009 8:51pm
Hi Dare and Jplo,

Just a quick question off topic, sorry, re learnforex live, have you guys had any further info or response from hector re the problems with site? I sent several emails with no responses, have you ordered the dvd's? im reluctant as I didn't get the first ones when you signed up. Did you guys get these? Interested in your thoughts.

Again sorry for off topic,

Cheers
  • #3,520
  • Aug 10, 2009 12:20am Aug 10, 2009 12:20am
Quoting fxachilies
With our way of trading.. when scalping the 5m timeframe.. to be profitable.. should we care and find it vital that the 5m chart does not show the overall picture of the market?
Thank you.
My quick and simple answer to the above is: no, I don't care 'cos it's irrelevant to this "system".
But, may all trading activities aren't just only based on one and only one method or time-frame, it's far more complex and diversified and has nothing to do with a scalping.
So, when looking on various instruments and using different time perspective, then of curse not only the overall picture plays a role, but other factors as well.
Fortunately, I can now very easily switch between them without any problems and there isn't any issue of one influencing others or vice versa.
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