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

How soon after you put on a trade do you expect to be "in the money"? 28 replies

How do you see trading - Do you see it as a means to an end? 12 replies

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Trade what you see NOT what you expect

  • #31,281
  • Feb 5, 2010 12:47pm Feb 5, 2010 12:47pm
Quoting eohater
Welcome to the thread! Grab a cup of coffee, open a demo account, read the pdf's on the first post, go through the classes at babypips.com (free). Then maybe in 6 months, you'll be ready to trade live money yourself. If you are new to trading, DO NOT START TRADING LIVE MONEY til you comfortable with the emotional side of trading. This method works 2 ways, either you will make a shit load of pips, or you'll get your ass handed to you and wonder WTF happened.

Welcome again, feel free to ask questions anytime!

EO
Exactly what I had planned. I'm over in the UK, so may replace the coffee with a cuppa (tea).

Our mutual friend already advised on babpips and I am halfway through pre-school!

I'll continue to follow with interest despite not understanding an awful lot!

Regards

ps... thanks for the welcome too - Gladis
Lee
  • #31,282
  • Feb 6, 2010 4:26am Feb 6, 2010 4:26am
Quoting macc


For silly emotional/patriotic reasons I still hate to see Sterling take a beating but it takes the edge off when this method allows me to benefit whether she's heading North or South.

She'll no doubt go wherever our respective governments send her but as long as I'm along for the ride and the beer's cold then all's good.
Personaly, I wouldn't feel to guilty about making some money out of the shambolic state that our two governments have allowed to establish itself.

ps.... still learning and hugely ejoying the fun side of this thread too.

Lee
  • #31,283
  • Feb 6, 2010 11:18am Feb 6, 2010 11:18am
If u are following these Tl's, s/r's and candle patterns on GU daily for direction........they have been holding up perfectly. I posted this chart twice this week.

5650 area...... looking for a 35/50 cross and reverse pattern on 15m is my plan, 50ma's on 15m.....5ma on 4h. If it happens...sweet!

Of course price could always go on up so get the best entry u can and cover!
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  • #31,284
  • Feb 7, 2010 5:22am Feb 7, 2010 5:22am
Here's my weekly. We closed the weekly with a bearish full bodied candle which keeps us on track for a further bearish move. We closed under the wick of the weekly candle from back the week of the 12th Oct 2009. Next stop shows me 535x. Now, this will not be in a straight line, I can see it moving north before continuing the venture south. Look for sellers in the 571x area to 583x.
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Just digging in the trenches like everyone else!
  • #31,285
  • Feb 7, 2010 5:36am Feb 7, 2010 5:36am
Here's my daily. I'm going to show 2 views of my daily with different channels. The S/R is the same on both charts.

On my first daily, I show the bottom of a channel at 551x. Notice how the channel is flatter than the channel on my 2nd daily chart. Now, the daily candle closed as a bearish candle, not showing signs of reversing just yet. I will be a buyer in the price level of 551x. We should see some proper PA on the m15 to help us all get a good seat for a nice bounce. Could be the bound that takes us to 571x-583x. Notice how these S/R areas are on my daily and weekly!!

On my 2nd daily, the channel has a shaper angle south and shows the bottom of the channel to be much lower. Now, not one channel is correct over the other. This is just an example of how channels can help us. I'm sure if one wanted to take the time, they cound find 20 plus different channels on the daily.

As to the S/R, we've closed under the same S/R zone that I had on my weekly post.
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Just digging in the trenches like everyone else!
  • #31,286
  • Feb 7, 2010 5:40am Feb 7, 2010 5:40am
Thanks EO, and good morning, you're up and about early for a Sunday morning. Your daily/weekly charts are always a help, thanks for taking the time.
  • #31,287
  • Feb 7, 2010 11:33am Feb 7, 2010 11:33am
Thanks EO! Love your weekend outlooks! I think we are in for an exciting week.
Cap
  • #31,288
  • Feb 7, 2010 12:11pm Feb 7, 2010 12:11pm
EO, thx for the htf charts...

Now who's gonna be the football champs?
It's a dirty job but someone's gotta do it!
  • #31,289
  • Feb 7, 2010 12:59pm Feb 7, 2010 12:59pm
Quoting LaBoca

Now who's gonna be the football champs?
The Colts, just ask the kid in this photo below

photo.jpg
Hi, my name is Barry and you can keep your doctor...
  • #31,290
  • Feb 7, 2010 1:32pm Feb 7, 2010 1:32pm
Hi EO,

does it make sense to draw the trend lines through the close?

This would fit perfect for the breakdown two weeks ago.

We played around with the tl for a couple of weeks, closed below a couple of times but went above again. But then confirmation candle open and close below and after that the sell off started.

Can you see my point. What do you reckon, which trend lines hold more weight?

tdeu
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  • #31,291
  • Feb 7, 2010 4:24pm Feb 7, 2010 4:24pm
Quoting cisco
The Colts, just ask the kid in this photo below

photo.jpg

Hmmmm....

I was kinda hoping it would be:

England ....or second choice 1 from - Argentina, Brazil or Espania...

But hey, to keep the kid happy...go Colts
It's a dirty job but someone's gotta do it!
  • #31,292
  • Feb 7, 2010 5:33pm Feb 7, 2010 5:33pm
Below is a daily EJ chart which shows some areas below current price that I will be looking for PA to indicate a possible trade north. We broke a significant area of support at the 127.00 area as I have mentioned in a previous post and had a nice move south off the retest of that area last week. Of course as always we are to let PA lead the way but I can see more movement to the south on The Mistress!

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  • #31,293
  • Feb 8, 2010 2:25am Feb 8, 2010 2:25am
Good morning to all

Ready for catching 35/50?
I don't want a job, i want money!
  • #31,294
  • Feb 8, 2010 2:37am Feb 8, 2010 2:37am
good morning,

be careful

I think it's against 1/4hr PA - but I'm a newbie

1 and 4hr closed both above 1.5555 and we retraced more than 70% of the down leg on 15min

although the top of the overnight range is above us at 5620

cheers

tdeu

Quoting dario1002
Good morning to all

Ready for catching 35/50?
  • #31,295
  • Feb 8, 2010 2:49am Feb 8, 2010 2:49am
Quoting tdeu
good morning,

be careful

I think it's against 1/4hr PA - but I'm a newbie

1 and 4hr closed both above 1.5555 and we retraced more than 70% of the down leg on 15min

although the top of the overnight range is above us at 5620

cheers

tdeu
I am newie too

do u mind tell me what u see on 1.5555? and we retraced more than 70% respect what?
I don't want a job, i want money!
  • #31,296
  • Feb 8, 2010 3:01am Feb 8, 2010 3:01am
Quoting dario1002
I am newie too

do u mind tell me what u see on 1.5555? and we retraced more than 70% respect what?

ooops... i saw it
I don't want a job, i want money!
  • #31,297
  • Feb 8, 2010 3:13am Feb 8, 2010 3:13am
no worries

looks like pennant on m15

continuation

tdeu
  • #31,298
  • Edited 3:30am Feb 8, 2010 3:17am | Edited 3:30am
Quoting leemonk
Personaly, I wouldn't feel to guilty about making some money out of the shambolic state that our two governments have allowed to establish itself.

ps.... still learning and hugely ejoying the fun side of this thread too.

Lee

This method is great and worth the time to absorb. The senior traders and most posters in general here make the learning process that bit easier.

Welcome to the thread.
  • #31,299
  • Feb 8, 2010 3:18am Feb 8, 2010 3:18am
Good Morning LuckyLady,

What do you think of the 1/4hr PA?

cheers

tdeu
  • #31,300
  • Feb 8, 2010 3:20am Feb 8, 2010 3:20am
Quoting PippiNole
Below is a daily EJ chart which shows some areas below current price that I will be looking for PA to indicate a possible trade north. We broke a significant area of support at the 127.00 area as I have mentioned in a previous post and had a nice move south off the retest of that area last week. Of course as always we are to let PA lead the way but I can see more movement to the south on The Mistress!

Attachment
Thanks for your take on how to handle the Mistress Pippi. You obviously start with soft hands and then spank her at the first opportunity
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