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  • #141,041
  • Sep 10, 2009 5:03am Sep 10, 2009 5:03am
Quoting stevefx
Yeah she's posted a lot of winners-way more than 50%. Last couple haven't worked out, but thats FX, everybody gets its wrong sometimes.

i doubt more than 50%....but she's a little too gartley happy for me....


mm
He who hesitates is hesitant....which always leads to bad entries.
  • #141,042
  • Sep 10, 2009 5:05am Sep 10, 2009 5:05am
Quoting Mackeymax
i doubt more than 50%....but she's a little too gartley happy for me....


mm
well, you must know.
  • #141,043
  • Sep 10, 2009 5:09am Sep 10, 2009 5:09am
Quoting stevefx
well, you must know.
no, i don't follow her as closely as some on this board do....

mm


p.s. uh oh....euro hitting some air pockets.....
http://www.forexfactory.com/images/icons/icon8.gif
He who hesitates is hesitant....which always leads to bad entries.
  • #141,044
  • Sep 10, 2009 5:09am Sep 10, 2009 5:09am
Quoting Mackeymax
Bloody Hell, I've just gone cross eyed / dizzy with that.....I need to sit down......http://www.forexfactory.com/images/icons/icon7.gif

mm
,Kindly sit down and think about what someone on this forum once said "I'd rather be wrong with my own trades than be right with yours".

If your analysis is 51 time right and 49 times wrong in every 100 trades, with 1% constant profit or loss on each trade, you will get 2% net. A kid can do this with a simple chart and common sense. However, you can bring 51 to 70 with your skill. That would give you 40% in 100 trades. Is it bad? is it complex? To me this is the grail given by Mark Douglas. The only care should be that we should operate at a level that can sustain first 30 losses in a row. This is what we don't do.
The Thief of Wall Street
  • #141,045
  • Sep 10, 2009 5:14am Sep 10, 2009 5:14am
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  • #141,046
  • Sep 10, 2009 5:19am Sep 10, 2009 5:19am
Time to buy? i see a support line n
oversold signals in 15m
The trend is your friend and you is your enemy - MJ
  • #141,047
  • Sep 10, 2009 5:20am Sep 10, 2009 5:20am
I am short from 1.4515, aiming for 30 odd pips with TP around 1.4485.

Do you guys think it'll hit there tonight before NY opens?

cheers
  • #141,048
  • Sep 10, 2009 5:23am Sep 10, 2009 5:23am
Quoting Mackeymax
I shoot a little lower than the hip....if you know what i meanhttp://www.forexfactory.com/images/icons/icon10.gif



mm


p.s. just have to call out the crazies every now and then...
nudge, nudge
not crazy though as her analysis based on solid foundation, but I always thought gartleys were rare.
  • #141,049
  • Sep 10, 2009 5:24am Sep 10, 2009 5:24am
typical bearish DV + doubel top show weekness of bullish force
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  • #141,050
  • Sep 10, 2009 5:24am Sep 10, 2009 5:24am
Quoting Althalon
thanks for the input, interesting to see someone is both trend and counter trend trader, I thought it was something like a personality, but i'm new to this. can you tell me where your SL is and why it's exactly there?

thanks

PS it's my first post, thanks you guys for the help here :-)
Hi Athalon, sorry I missed your post here and just noticed it when I went trough some of my older posts (-: Obviously I was stopped out on the trade that we were discussing at the time, my stop loss was 1,4515 and my tp was 1,4400 on that trade. As said I am alway at a 5:1 RR ratio on my counter trend trades, in this case I was a 6,6:1.

I am not a trend trader, then you misunderstood me. I am a counter trend and a swing trader. Ok, a swing trader might by some be considered a trend trader on shorter time frames, but are very different then a trend trader in many ways. A trend trader also consider the fundamentals more then technicals, while a swing trader almost only trade on technicals.

You are very right on type of trader reflects ones personality, but not only. I think it is a combination of personality and what has been taught. I used to only swing trade before, but found that doing a combination of swing and counter trend trading worked better. I think main reason was that when I was only doing one type of trading, I was sometimes tempted to take trades that was not wise, since it was so "boring" to be out of the market waiting for a trade setup. This way, I am more often in the market. Key though, is to keep this two styles separate from each other.... do not get mixed up, then it is better stay with one style. I manage to trade this pair with both styles, but in the beginning I was separating by trading different pairs.

Hope this helps and explain things, good luck with your trading. And remember there is no such thing as a quick get rich system, it might double your account at first but loose you everything at the blink of an eye. If you are low on cash, and want to trade more and more money, I suggest a different approach. Play poker or bet on horses, then when you win a lot of money you can trade with low gearing a large forex account. If you start low on cash and high gearing, you don't only loose your money very quick, you also loose your faith in trading. Then it is better to loose your money gambling. This is my best advise to new traders (-;
Kjellik74
  • #141,051
  • Sep 10, 2009 5:25am Sep 10, 2009 5:25am
Quoting Chicky
,Kindly sit down and think about what someone on this forum once said "I'd rather be wrong with my own trades than be right with yours".

[font=Arial]If your analysis is 51 time right and 49 times wrong in every 100 trades, with 1% constant profit or loss on each trade, you will get 2% net. A kid can do this with a simple chart and common sense. However, you can bring 51 to 70 with your skill. That would give you 40% in 100 trades. Is it bad? is it complex? To me this is the grail given by Mark Douglas. The only care should...
chicky...relax.....dont get all stephen hawking on me....didn't he have a talk show in the 70's???? or was that mike douglas or maybe merv griffin, but i digress....here's my grail...keep it simple, don't let winners turn to losers, and above all good money mgmt will never get you hurt.

mm
He who hesitates is hesitant....which always leads to bad entries.
  • #141,052
  • Sep 10, 2009 5:27am Sep 10, 2009 5:27am
pain bar, tracked back into upsloping pitchfork after breaking the LTL decisively. Ought to bring more bulls in.
  • #141,053
  • Sep 10, 2009 5:33am Sep 10, 2009 5:33am
I think this is a nice retrace to go short on, so shorted at 1,4545, sl 1,4565 and tp 1,4500. Notice the down channel on the 5m, 15m and the 1hr chart, touching the upper wall. Also the RSI on the 1hr is now below 50, which has not been since 4th of September.
Kjellik74
  • #141,054
  • Sep 10, 2009 5:34am Sep 10, 2009 5:34am
Quoting Hasnaa

gartley girl....still short???


mm
He who hesitates is hesitant....which always leads to bad entries.
  • #141,055
  • Sep 10, 2009 5:36am Sep 10, 2009 5:36am
Quoting Atlast
1.4480 is short target today. I will be very surprised if I don't pull at least 40 pips with this trade, partial TP 1.4522.
1.4522 hit. Isn't it funny how it reversed off there?
  • #141,056
  • Sep 10, 2009 5:57am Sep 10, 2009 5:57am
Quoting ashlee_17
1.47


Thanks for the response Ashlee.

I just normally would have expected a strong retrace by now, however the bulls seem to have a mind of their own, no telling what can happen the next moment.

would you recommend going long or sitting things out for now?
  • #141,057
  • Sep 10, 2009 6:03am Sep 10, 2009 6:03am
Who Cares To A Stinking Weasel Like This...!?

By The Way 1 More 4 Goldies !
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  • #141,058
  • Sep 10, 2009 6:04am Sep 10, 2009 6:04am
Quoting Chicky
,Kindly sit down and think about what someone on this forum once said "I'd rather be wrong with my own trades than be right with yours".

[font=Arial]If your analysis is 51 time right and 49 times wrong in every 100 trades, with 1% constant profit or loss on each trade, you will get 2% net. A kid can do this with a simple chart and common sense. However, you can bring 51 to 70 with your skill. That would give you 40% in 100 trades. Is it bad? is it complex? To me this is the grail given by Mark Douglas. The only care should...

Looks like you need to inc. your R/R or did I read it too quickly??
I am only right about 46% of the times but with between 1:2/1:3 it looks pretty ok....
  • #141,059
  • Sep 10, 2009 6:05am Sep 10, 2009 6:05am
Quoting Atlast
1.4522 hit. Isn't it funny how it reversed off there?
btw what special do u see there?
  • #141,060
  • Sep 10, 2009 6:09am Sep 10, 2009 6:09am
Buy at 1.4520 10 lots ...
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