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  • #164,121
  • Nov 21, 2009 8:43am Nov 21, 2009 8:43am
Mima...wise words! Thank you...exactly my point. It IS that simple.

Quoting mima
I believe that you are disciplined and have good money management...Who has those two can make money just with EMA crosses Support and ressistance or fibs....
In Charts We Trust!
  • #164,122
  • Nov 21, 2009 8:50am Nov 21, 2009 8:50am
Quoting X.Oden
People lose long term because they try to complicate things and use 100 different strategies and ask others for the holy grail. If you follow the rules I have above, you'll make money. If you don't....then find another profession because it would be impossible NOT to make it.

brother fibs are fractual they occur in nature...it may appear to work, and u will find in most cases they produce the result, elliot wave principle relly on fib numbers 5,3,8 and so on

however the market is indeed random and u have to use a profitable edge to produce a result......i use fibs myself but they mean nothing unless there is confluence with support and resistance.

its not blind faith...there is no holly grail but if i had to say what it was it would the head of a trader...they are a million reasons why yur trade can go wrong...so please any1 knew at this...need to understand the true nature of the market...to think fibo on there own is a stadegy is a joke

have u heard of the fib belt method..does it work today?

far from simple

and i dont need to see any1 result...if u want to put money in my account that is different it doesnt change the market..it will always be the same
  • #164,123
  • Nov 21, 2009 8:58am Nov 21, 2009 8:58am
Quoting X.Oden
People lose long term because they try to complicate things and use 100 different strategies and ask others for the holy grail. If you follow the rules I have above, you'll make money. If you don't....then find another profession because it would be impossible NOT to make it.
I agree, a strategy can be quite simple, that if used correctly with discipline can produce consistent results... the problem in my opinion is our emotions (fear and greed) which can cloud or judgement, make us hesitate, take risks... read signals incorrectly etc.. etc.. and that is probably what causes most traders to fail...
  • #164,124
  • Nov 21, 2009 9:00am Nov 21, 2009 9:00am
Quoting nAVIN2007
......
however the market is indeed random and u have to use a profitable edge to produce a result......

Market is not random at all...Trading is the business run by proffesionals that can move the price...based on suply and demand.
Obviously you dont understand this.

For long time I wanted to ask you if you have live account and trade on it? I dont think you have...Maybe you should think twice before you comment something about trading....
The Market pays you to be disciplined
  • #164,125
  • Nov 21, 2009 9:00am Nov 21, 2009 9:00am
Oh ok, if that's the way you trade and it works for you great. Good luck.


Quoting nAVIN2007
brother fibs are fractual they occur in nature...it may appear to work, and u will find in most cases they produce the result, elliot wave principle relly on fib numbers 5,3,8 and so on

however the market is indeed random and u have to use a profitable edge to produce a result......i use fibs myself but they mean nothing unless there is confluence with support and resistance.

its not blind faith...there is no holly grail but if i had to say what it was it would the head of a trader...they are a million reasons why yur trade can go wrong...so...
In Charts We Trust!
  • #164,126
  • Nov 21, 2009 9:07am Nov 21, 2009 9:07am
Yes emotions are a big killer even with a good strategy. I totally agree.

What I do is, I plan my trade from start to finish, walk away and maybe check on it once or twice a day at most.....if I sit in front of the screen all day and scalp, I will definitely get killed because I know I would fiddle with the trades too much and eventually screw something up.

I take my hats off to scalpers on here that can do that.

Price Volume, another excellent trader on here once said to me, "When you're sitting in front of the screen trading, sometimes you have to simply not care"...and that's true...

As to the fibs...if used from a point of reference, it is a valuable tool, especially in determining points of entry and destination....

Alongside pivots, they work great.




Quoting caldera
I agree, a strategy can be quite simple, that if used correctly with discipline can produce consistent results... the problem in my opinion is our emotions (fear and greed) which can cloud or judgement, make us hesitate, take risks... read signals incorrectly etc.. etc.. and that is probably what causes most traders to fail...
In Charts We Trust!
  • #164,127
  • Nov 21, 2009 9:12am Nov 21, 2009 9:12am
Quoting mima
Market is not random at all...Trading is the business run by proffesionals that can move the price...based on suply and demand.
Obviously you dont understand this.

For long time I wanted to ask you if you have live account and trade on it? I dont think you have...Maybe you should think twice before you comment something about trading....

u are right i cannot trade
Quoting X.Oden
Oh ok, if that's the way you trade and it works for you great. Good luck.
u too
  • #164,128
  • Nov 21, 2009 9:17am Nov 21, 2009 9:17am
Quoting X.Oden
Yes emotions are a big killer even with a good strategy. I totally agree.

What I do is, I plan my trade from start to finish, walk away and maybe check on it once or twice a day at most.....if I sit in front of the screen all day and scalp, I will definitely get killed because I know I would fiddle with the trades too much and eventually screw something up.

I take my hats off to scalpers on here that can do that.
I agree with you... scalping can kill your account... i think it can easily lead to overtrading... and with scalping you have to be be skilled at quick exits with small losses... and that in itself requires strong discipline...

Your style looks good to me, regardless of the antagonism from others i appreciate your input, and its not because i have little experience... even if i was an excellent trader (which i'm not), i would still be listening and learning... one thing that the market teaches is humility.
  • #164,129
  • Nov 21, 2009 9:34am Nov 21, 2009 9:34am
Quoting X.Oden
Sure, I'll prove its simple....

can i ask u a question..can u post a chart of yur analysis of euro..and where u think it will go..if that is not to much trouble i have posted mine on here already seeing yur would be good

im sorry if i appeared rude was not my intention..im am just sick of hearing people say trading is simple..and cannot back it up (im not talking about u)

if u have no time..no problem
  • #164,130
  • Nov 21, 2009 10:00am Nov 21, 2009 10:00am
Sure.....I'll post both the Daily and the Hourly..

Last Daily Bar close is a bearish bar. Euro retraced slightly on Friday before market closed. Probably due to short term traders closing out positions to avoid market gaps on Sunday open.

PA:
We see a double top with the second top lower than the first...shows me momentum weakening...
We also see on the last 10 price bars, lower highs and lower lows

I drew my fibs on price weakness and the extensions are where the ultimate targets would be...

Whether price gets there or not, I don't really care....what I care is that my positions go into profit quickly and I don't get stopped out. If so, I simply close for partial profits...move stops to BE+1 and ride the rest on the house to final destination.

Same thing with the 1hr....here we see more clearly a down trend, fib levels drawn...lower highs, lower lows, fib levels drawn.....targets determined.

If the trade goes against me, I simply close the position and wait again to ride the trend when it comes my way again..






Quoting nAVIN2007
can i ask u a question..can u post a chart of yur analysis of euro..and where u think it will go..if that is not to much trouble i have posted mine on here already seeing yur would be good

im sorry if i appeared rude was not my intention..im am just sick of hearing people say trading is simple..and cannot back it up (im not talking about u)

if u have no time..no problem
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD Daily.jpg Size: 115 KB
Click to Enlarge Name: EURUSD H1.jpg Size: 113 KB
In Charts We Trust!
  • #164,131
  • Nov 21, 2009 10:05am Nov 21, 2009 10:05am
Quoting X.Oden
Sure.....I'll post both the Daily and the Hourly..

Last Daily Bar close is a bearish bar. Euro retraced slightly on Friday before market closed. Probably due to short term traders closing out positions to avoid market gaps on Sunday open.

PA:
We see a double top with the second top lower than the first...shows me momentum weakening...
We also see on the last 10 price bars, lower highs and lower lows

I drew my fibs on price weakness and the extensions are where the ultimate targets would be...

Whether price gets there or not, I don't really...

very good analysis..
  • #164,132
  • Nov 21, 2009 10:31am Nov 21, 2009 10:31am
Quoting X.Oden
Sure, I'll prove its simple. You open a live account, I already have mine posted in another forum on here and we figure out the stats by March. I've issued this challenge to Micho and Driver of whom attacked me for no reason simply of me posting 1200 pip gains in 2 days. To which, was asked to prove it...and I posted my results next. Then was attacked simply because I am new here and because maybe I did prove it? Then someone here asked how I accomplished it. And I gave them the exact way I did..and the above is how I trade, so if that's not enough....I...
Welldone Oden , I don't disbelieve you . It is quite possible 1200pips in 2 days even in 1 day. I have tried many times but they were not the pips people do count usually , mostly double,trippled or multiple of a single pip.How I did before when started forex in newbie time , same took one movement in higher tf usually news time , activated only buy or sell EA & also manually to open continuous trades untill deactivated , tp min say 10-15 ,sl kept over top of the candle , quide sr big tf like h4. When price reached over half way of the srs deactivated EA. rest trades remain managed manually , even if some with loss if threatened.so with only a 50 pips movement I often traded 100 , profit can be equivalent 1000pips or more .Not doing any more few years as very risky & sometimes experienced very big loss & loss of all monies.

may be others experienced the same thing & talking not feasible for long term .

fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #164,133
  • Nov 21, 2009 10:34am Nov 21, 2009 10:34am
X.Oden

Your up early today! (A little fiesty!!-I'll stay in the corner to protect my backside.) What is the blue line on your chart? Is it a Pivot line?

All Work
All Work & No Play!
  • #164,134
  • Nov 21, 2009 10:43am Nov 21, 2009 10:43am
as you are senior member i will appreciate if you can post your take on EURO for next week,specially for monday.i have short position open.thankyou
  • #164,135
  • Nov 21, 2009 10:46am Nov 21, 2009 10:46am
I understand....I posted straight pips, my results are posted a few pages 1 S Lot x 100 pips x 12 positions

I was taught however, that if you use 2 lots and run 100 pips, you have made 200 pips....some would argue you only made 100 pips, but if you count the $ amount, you have made 200 pips. 100 pip gain on 1 standard lot = 1K, 100 pip gain on 2 standard lots = 2K...so the money in the bank is the reflection of what you have actually earned and is the correct way to count it, though, I counted 100 straight pips since I am only using 1 lot per pair.....



Quoting fontu
Welldone Oden , I don't disbelieve you . It is quite possible 1200pips in 2 days even in 1 day. I have tried many times but they were not the pips people do count usually , mostly double,trippled or multiple of a single pip.How I did before when started forex in newbie time , same took one movement in higher tf usually news time , activated only buy or sell EA & also manually to open continuous trades untill deactivated , tp min say 10-15 ,sl kept over top of the candle , quide sr big tf like h4. When price reached over half way of the srs deactivated...
In Charts We Trust!
  • #164,136
  • Nov 21, 2009 11:05am Nov 21, 2009 11:05am
according to my charts, E/U should be reversing on the next day candle and if goes well the next 2 or 3 candles too. It has reached the bottom of the lows on the daily chart trendline. Happy pippin!
  • #164,137
  • Nov 21, 2009 11:15am Nov 21, 2009 11:15am
Quoting X.Oden
I understand....I posted straight pips, my results are posted a few pages 1 S Lot x 100 pips x 12 positions

I was taught however, that if you use 2 lots and run 100 pips, you have made 200 pips....some would argue you only made 100 pips, but if you count the $ amount, you have made 200 pips. 100 pip gain on 1 standard lot = 1K, 100 pip gain on 2 standard lots = 2K...so the money in the bank is the reflection of what you have actually earned and is the correct way to count it, though, I counted 100 straight pips since I am only using 1 lot per...
Thats very good counting straight pips & when using multiple pairs at a time should be more feasible if one can do & mange trades like you did because a single move of 100 pips in price action anytime will move all pairs more or less in either correlated or anti corelated in most time , say in prefered 12 pairs , should be min 1200pips on average . trades can be controlled with ea or manually . 12 trades at a time not more .

Only cretical decision of when this movement occur should the most successful strategy & how much possible , you use fib & sr & MAs should also work.
I will check which pairs selected & the timing when do next .

Very glade to see actually some one doing this successfully & may try next time.
thanks , fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #164,138
  • Nov 21, 2009 11:36am Nov 21, 2009 11:36am
I am attaching another more accurate trend line chart..

Notice EURUSD is weakening....2 breaks below trend lines, on each attempt retesting resistance and failing on both attempts...

Therefore my bias is still toward a long dollar...and short euro
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Daily 2.jpg Size: 90 KB
In Charts We Trust!
  • #164,139
  • Nov 21, 2009 11:53am Nov 21, 2009 11:53am
At this point the range of the triangle is only 200 pips. Next two weeks are critical, where we could see a new year high or a change on the daily uptrend.
Attached Image (click to enlarge)
Click to Enlarge Name: h4.gif Size: 16 KB
  • #164,140
  • Nov 21, 2009 12:14pm Nov 21, 2009 12:14pm
It seems that at the moment there is a lot of indecision in the market... i would not make any predictions, except state that in the last 10 days the price has not decisively broken above 1.5 or below 1.48... if at any point it were to have continued down it should've done so at the end of last week you only need to look at the other USD crosses and the dollar index... something is preventing the dollar from strengthening... On the other hand Gold is at an all time high and i have seen that in general when gold is up the Euro follows... and the Euro has not continued much higher...
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