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  • #41
  • Sep 8, 2009 2:58pm Sep 8, 2009 2:58pm
This seems to be like a nice thread. I'm looking to learn how to successfully trade forex (been doing this for years now). I've finally learned how to stop bouncing from one place to the next. I'm going to stay in touch with this thread and those who share their wisdom in hopes of finally making a go at this business.
  • #42
  • Sep 8, 2009 6:59pm Sep 8, 2009 6:59pm
Quoting IKent
Nice to see your chart 1m. Do you trade using hotkeys since it is small tf and fast moving pair? What is your typical stop loss and take profit? And which broker you use (you got great spread asssuming you have 4 pips on gbp/jpy)?

thanks


Thanks
  • #43
  • Sep 8, 2009 8:28pm Sep 8, 2009 8:28pm
"Originally Posted by Jey
Hello... may I know why you are ignoring a fellow Indian like me?
I have greeted you in your thread and seeked your attention but your continued arrogance and strange indifference to me truly mystifies me."

Jey, drawing a false conclusion will get you nowhere..
you obviously know very little about forexlion.

he probably shouldn't help you
taking series 3 and 34
  • #44
  • Sep 8, 2009 8:55pm Sep 8, 2009 8:55pm
Quoting IKent
Thanks
no i do not use hotkeys, instead i use ea's to close trades like the ones you see on my chart the tight trailing stop.

my entry is carefully planned on the basis of important S/R levels and possible bounce areas.

take for example, for this entire week the PA has been to go up, GJ has time an again tested the daily resistance, and today if it breaks 153.125 decisively then it will try to go to the next zone of 155
  • #45
  • Sep 8, 2009 8:58pm Sep 8, 2009 8:58pm
Quoting forexlion
i just follow 1 min chart and the tail, watching other time frames confuses the decision

so i just go by 1 min charts, and i am very careful not to enter a fresh trade near the 0 line, i try to enter on the extremes

no reason not to make money on 1 min GJ
Hello forexlion, Nice thread, you seem to have this down pretty good.

I have a couple of questions for you.....

"Careful not to enter a fresh trade near the zero line", what is the 0 line you refer to ??


"i just follow the 1 min chart..... other time frames confuse the decision". Well, it seems that you do look at higher time frames. At least, you have mentioned that you do from time to time. I mean, if there is a support on 1Hour, you're not likely to sell into it off of a 1 min movement. So,

Do you study the higher time frames at the beginning of the session and then only look at 1 min for the trade ??

Do you verify trade setups by checking higher time frames to make sure there are not any barriers in the way ??

OK, that's enough for now !! Thanks.
  • #46
  • Sep 8, 2009 9:38pm Sep 8, 2009 9:38pm
Quoting price
Hello forexlion, Nice thread, you seem to have this down pretty good.

I have a couple of questions for you.....

"Careful not to enter a fresh trade near the zero line", what is the...

  1. when doing a market research, keep your eyes open to all details on all time frames, then make a plan
  2. and when you start trading on 1 min based on this plan, stick to 1 min entirely, that is open and close trades based on 1 min only

the important thing here is

 

  1. you first do a market research when you begin for the day
  2. see whats happening and what are the news items which can affect the moves
  3. is there any bank holiday,m cause after all the forex movement is entirely based on inter bank transactions
  4. when you have a set plan made
  5. drop down to 1 min and get to work, lazy bum.

the zero line is the zero level of the tail indicator.

  • #47
  • Sep 8, 2009 9:44pm Sep 8, 2009 9:44pm
observe the tail indicator, howering near the zero line

this is typical setup for a very tight rangebound move and is also a place where break outs normally begin.

i would entirely avoid trading this, but at the same time keep an eye on a possible breakout scenario.

if 153.125 breaks the breakout will be to the top side for roughly 1000 pips.
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  • #48
  • Sep 8, 2009 9:52pm Sep 8, 2009 9:52pm
are u anticipating an uptrend?
gj just came down from 162 to 152. will it go back to 162 in the near future.

historically september is the month when yen strengthens
comments?
  • #49
  • Sep 8, 2009 10:00pm Sep 8, 2009 10:00pm
Quoting anika123
are u anticipating an uptrend?
gj just came down from 162 to 152. will it go back to 162 in the near future.

historically september is the month when yen strengthens
comments?
.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gj.gif Size: 17 KB
Click to Enlarge Name: gj2.gif Size: 16 KB
  • #50
  • Sep 8, 2009 10:10pm Sep 8, 2009 10:10pm
Quoting anika123
are u anticipating an uptrend?
gj just came down from 162 to 152. will it go back to 162 in the near future.

historically september is the month when yen strengthens
comments?
not just anticipating, i am seeing it form slowly

still needs to chop some trees though, but the forest is getting thinner
  • #51
  • Sep 8, 2009 10:14pm Sep 8, 2009 10:14pm
Quoting forexlion
not just anticipating, i am seeing it form slowly

still needs to chop some trees though, but the forest is getting thinner
the tail indicator on daily chart has still not given a long, so i am not entering into a longer term trade as yet, just scalping off 1 min
  • #52
  • Sep 8, 2009 10:51pm Sep 8, 2009 10:51pm
Quoting forexlion

  1. when doing a market research, keep your eyes open to all details on all time frames, then make a plan
  2. and when you start trading on 1 min based on this plan, stick to 1 min entirely, that is open and close trades based on 1 min only

the important thing here is
[list][*]you first do a market research when you begin for the day[*]see whats happening and what are the news items which can affect the moves[*]is there any bank holiday,m cause after all the forex movement is entirely based on inter bank transactions[*]when you...

Thanks forexlion, I just wanted to hear your take on it. That was a dam good answer !!

I might have to make a poster of it and put it on my wall.
  • #53
  • Sep 8, 2009 11:06pm Sep 8, 2009 11:06pm
Quoting Jey
Please accept my humble apologies. I wrongly read your actions as arrogance. It is my error and I am ashamed. Again, I apologize profusely.

Thank you for explaining. God bless.
[/quote]

I will accept your apologies only if you make 100 consecutive profit trades on a live account.
  • #54
  • Sep 9, 2009 12:15am Sep 9, 2009 12:15am
both majors are stuck in a range
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  • #55
  • Sep 9, 2009 12:37am Sep 9, 2009 12:37am
Hello Forexlion, this is my first post , I`ve been following you for a while now, and I noticed that you are the real deal in trading.I`m sorry to hear about your condition.I am very thankfull for your help and I`m going to try to learn to trade your style, hopefully I`ll learn to trade like you .
Thank you and good luck.
I`ve been wrong before,and I may be wrong again.
  • #56
  • Sep 9, 2009 12:54am Sep 9, 2009 12:54am
hello forexlion,
would you please explain what is 'girlfriend' ? is it some important level or?
  • #57
  • Sep 9, 2009 12:55am Sep 9, 2009 12:55am
Quoting cttrader
Hello Forexlion, this is my first post , I`ve been following you for a while now, and I noticed that you are the real deal in trading.I`m sorry to hear about your condition.I am very thankfull for your help and I`m going to try to learn to trade your style, hopefully I`ll learn to trade like you .
Thank you and good luck.

  1. no matter how hard you try
  2. no matter how good the system is

the market always has a surprise for you

  • #58
  • Sep 9, 2009 1:12am Sep 9, 2009 1:12am
+40 pips in gy in 1m chart.
learning the trade, thnx
but at the moment iam trading in a demo till i learn the behaviour of this pair.
thanks once again
  • #59
  • Sep 9, 2009 1:13am Sep 9, 2009 1:13am
Hello forexlion,

I am new to forex. Can you tell me how I can know about the trading volume in any currency. I especially trade cable. Also, please which other pair can fit well with cable?

Ashish
Forex success = Patience + Leverage
  • #60
  • Sep 9, 2009 2:22am Sep 9, 2009 2:22am
Quoting anika123
+40 pips in gy in 1m chart.
learning the trade, thnx
but at the moment iam trading in a demo till i learn the behaviour of this pair.
thanks once again
good, stick to demo till you have it going consistently
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