Just trade the pullback you idiot!
- | Joined Apr 2007 | Status: Sedonapipper | 550 Posts
I make money anywhere in the world by taking orders
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The AUD/USD 1.00 EUR/AUD 1.60 GBP/AUD 2.00 Thread! 0 replies
DislikedJust wanted to talk about this for a min. I'm not saying people should scrutinise every setup, as that would be counter productive. What I am saying is use a little common sense when applying the rules. Last night was a good example. I saw lots of people trying to short a breakout of that bracket, when there had been no qualified swing low. Price had swung high into that bracket, so in my opinion the only valid entry was a long outside it.
Seems to me that the practice of qualifying a swing has been forgotten a little in the rush...Ignored
DislikedBTW en0x - backslapping fuels your ego. Ego is a naughtly little thing most of the time.....it wants to personally own all of your winners (your winners become a reflection of yourself ie "how good am I") and none of your losers (it is the market that is wrong, not me).
Practicing detachment from ego is very important if you want to do this job day in day out.Ignored
DislikedNice entry I waited till 92528 after retrace from 92507 broken by spread plus 1.Ignored
DislikedI have taken 0 trades as yet. I wait for the first pullback from the first qualified swing (I use min of 16 pips on the AUD). The entry some took around the 50 mark was not ideal as price had only swung up 10-15 at the time.
Give the market a little time to show you want it wants to do.Ignored
DislikedI take you you dont follow FX teachings?
The bracket breakout is a very valid trade that I took. I played it accordingly to my plan with a very aggressive stop. Unless you completely ignoring what FX is teaching/taught then rather not say its not valid.Ignored
DislikedI have taken 0 trades as yet. I wait for the first pullback from the first qualified swing (I use min of 16 pips on the AUD). The entry some took around the 50 mark was not ideal as price had only swung up 10-15 at the time.
Give the market a little time to show you want it wants to do.Ignored
DislikedShodd, we would have a qualified swing down now from 9255 to 9234?
cheersIgnored