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Why did you start trading and what do you expect from it? 19 replies

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Trade what you see NOT what you expect

  • #23,041
  • Aug 17, 2009 3:10pm Aug 17, 2009 3:10pm
Quoting fourxtrader
That may very well be true. I'm in new territory here.

Having traded the GJ more than any other currency,
some atleast in the past would contend the UJ as the
mother of all drivers (especially with the carry trades)
with those two economies leading the free world.

In the current world we might also see the 'drivers'
[i][color=#0000ff]shifting...
http://www.mataf.net/en/tools/correlation-table
  • #23,042
  • Aug 17, 2009 3:19pm Aug 17, 2009 3:19pm
Quoting eohater
I'd say you are both right, but the ultimate driver, Price Action.
OPPS,
I need to leave my brain at the door of the classroom.
Price Action, Price Action, Price Action, Price Action.

I'm going to get this down.

Don't ever want to return to all that chaos.

Dr. D.
  • #23,043
  • Aug 17, 2009 3:27pm Aug 17, 2009 3:27pm
Quoting fourxtrader
OPPS,
I need to leave my brain at the door of the classroom.
Price Action, Price Action, Price Action, Price Action.

I'm going to get this down.

Don't ever want to return to all that chaos.

Dr. D.
It is chaos, and one currency can and does drive another, but ultimately, each currency stands on it's own. I use to do a daily t-chart outlining GU, EU, GJ, UJ, EG and which ones where going where and trade the ones that agreed with one another and leave the others alone. It all has to fit you and your personality. I personally like price action as my drive and follow my charts. No one is right or wrong in the debate or debakle.
Just digging in the trenches like everyone else!
  • #23,044
  • Aug 17, 2009 3:28pm Aug 17, 2009 3:28pm
Quoting nyjetfan
RT4x - This is a candlestick pattern - details can be found here:

http://www.hotcandlestick.com/direct...%20Methods.htm
Thanks a bunch...
  • #23,045
  • Aug 17, 2009 3:31pm Aug 17, 2009 3:31pm
EO,

So what prognostications can you share based
on the current PAs and array of MAs?

I'm short since 1.6345. I picked a good top
IF...... but also moved my stop down to 1.6361.

Now picking my beak waiting for some movement.

Dr. D.
  • #23,046
  • Aug 17, 2009 3:34pm Aug 17, 2009 3:34pm
Quoting eohater
It is chaos, and one currency can and does drive another, but ultimately, each currency stands on it's own. I use to do a daily t-chart outlining GU, EU, GJ, UJ, EG and which ones where going where and trade the ones that agreed with one another and leave the others alone. It all has to fit you and your personality. I personally like price action as my drive and follow my charts. No one is right or wrong in the debate or debakle.
I like the order and consistency I see here.

I'll be your student. I'll take my losses and
gains and understand the reasons why based
on PA. Now what does that really mean. LOL

Dr. D.
  • #23,047
  • Aug 17, 2009 3:34pm Aug 17, 2009 3:34pm
Quoting eohater
It is chaos, and one currency can and does drive another, but ultimately, each currency stands on it's own. I use to do a daily t-chart outlining GU, EU, GJ, UJ, EG and which ones where going where and trade the ones that agreed with one another and leave the others alone. It all has to fit you and your personality. I personally like price action as my drive and follow my charts. No one is right or wrong in the debate or debakle.

Thanks for this Mate, you are correct PA is king!!!

Enjoy your evening

I will chat to you tomorrow
  • #23,048
  • Aug 17, 2009 3:38pm Aug 17, 2009 3:38pm
Quoting davids
http://www.mataf.net/en/tools/correlation-table
Thanks Davids for the link and discussion.

Dr. D.
  • #23,049
  • Aug 17, 2009 3:39pm Aug 17, 2009 3:39pm
Quoting fourxtrader
Thanks Davids for the link and discussion.

Dr. D.



I hope you are not sleepinginadumpster as this would be very concerning
  • #23,050
  • Aug 17, 2009 3:43pm Aug 17, 2009 3:43pm
Quoting fourxtrader
EO,

So what prognostications can you share based
on the current PAs and array of MAs?

I'm short since 1.6345. I picked a good top
IF...... but also moved my stop down to 1.6361.

Now picking my beak waiting for some movement.

Dr. D.
On the m15, we're going flat so we're into range mode there.

On the h1, we're above the 10 which supports long positions, but not at this price and the number of pins we've gotten. No follow through on the pins, so ultimately we're ranging on the h1.

On the h4, we have just cove off a dblhc formation and the working h4 is above the 5, not much strength or volume atm. All the ma's are angled south.

On the daily, we are going to close around the 50ema, we have not seen this ma in a while.

Overall, we're going to range for a while, then price will either shift back under the ma's on the m15 and test today's low and more buyers come back in, or we'll smash today's low and continue on to 624x-614x

Watch for the breakout to showitself on the m15. Going into Asian session, I'm favoring the short side of movement as well. Between Asian/London, I'll be looking for a possible long if my current long position get's closed out.
Just digging in the trenches like everyone else!
  • #23,051
  • Aug 17, 2009 3:45pm Aug 17, 2009 3:45pm
Quoting davids
Thanks for this Mate, you are correct PA is king!!!

Enjoy your evening

I will chat to you tomorrow
I'm outta here brother!

I'll be on later tonight for me, early am for you.
Just digging in the trenches like everyone else!
  • #23,052
  • Aug 17, 2009 3:45pm Aug 17, 2009 3:45pm
Quoting davids


I hope you are not sleepinginadumpster as this would be very concerning
That 'handle' has been mine since the 'dot.com' debacle
back in '99 when I saw $300-500K slip thru my greedy fingers
after Greenspan issued the 'over-valuation' edict that sent the
markets into a spin. It was so appropriate then.

sleepinginadumpster

Now I'm in a doublewide... LOL

Dr. D.
  • #23,053
  • Aug 17, 2009 3:46pm Aug 17, 2009 3:46pm
Quoting eohater
I'm outta here brother!

I'll be on later tonight for me, early am for you.
cool
  • #23,054
  • Aug 17, 2009 3:47pm Aug 17, 2009 3:47pm
Quoting fourxtrader
That 'handle' has been mine since the 'dot.com' debacle
back in '99 when I saw $300-500K slip thru my greedy fingers
after Greenspan issued the 'over-valuation' edict that sent the
markets into a spin. It was so appropriate then.

sleepinginadumpster

Now I'm in a doublewide... LOL

Dr. D.
cool
  • #23,055
  • Aug 17, 2009 3:52pm Aug 17, 2009 3:52pm
Hi Guys,

Where are the final MA settings, are they the ones in the PDF?

Thanks

Mark
I hear and I forget. I see and I remember. I do and I understand.
  • #23,056
  • Aug 17, 2009 3:54pm Aug 17, 2009 3:54pm
Quoting tac
Hi Guys,

Where are the final MA settings, are they the ones in the PDF?

Thanks

Mark
These are the MA's Eo uses

Here are the charts that I use and what I have applied to them.

15m:
10ema, 21ema, 35sma and 50sma

1h:
10sma, 50sma and 62ema

4h:
5sma, 10sma, 50ema and 150ema

Day;
5sma, 35sma and 50ema
  • #23,057
  • Aug 17, 2009 3:54pm Aug 17, 2009 3:54pm
Hi Ken,

Thanks for your excellent charts and explanations.

Is there a indicator for MT, that draws the blue and red S/R areas on your chart?

thanks tdeu

Quoting KENNETH lEE
Here we can see in the GBP/USD and EUR/JPY . That the PPA from Fridays low held and priced turned back up. enough movement has accord already to have locked in some profits and covered (moving stop to Break Even or +2)
Now if it should turn against you the profits are locked in.. But if it conitnues up you have entered at the best price available. with little risk.. stop would be below the lows..
  • #23,058
  • Aug 17, 2009 3:57pm Aug 17, 2009 3:57pm
Quoting davids
These are the MA's Eo uses

Here are the charts that I use and what I have applied to them.

15m:
10ema, 21ema, 35sma and 50sma

1h:
10sma, 50sma and 62ema

4h:
5sma, 10sma, 50ema and 150ema

Day;
5sma, 35sma and 50ema
Thanks
I hear and I forget. I see and I remember. I do and I understand.
  • #23,059
  • Aug 17, 2009 4:26pm Aug 17, 2009 4:26pm
Quoting tdeu
Hi Ken,

Thanks for your excellent charts and explanations.

Is there a indicator for MT, that draws the blue and red S/R areas on your chart?

thanks tdeu
I am sure there is But I don't use MT4. It is Dealbook The trading Platform of GFT.. It is just the high and low of the day on the 15 min and the high and low of the week on the 1 Hr. The rest are clean. Ken
Good Trading To All ; Ken Lee
  • #23,060
  • Aug 17, 2009 5:15pm Aug 17, 2009 5:15pm
sorry but I think this talk about "drivers" is nonsense. If you trade cable, get separate charts of the dollar and the pound. Those are the two drivers of cable (£/$). You can then see which way each on its own is heading. Simple and no pointless confusion that way. Liteforex offers separate chars (LFX) of each, for example.
'The past will always show us the future'
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