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  • #191,961
  • Feb 8, 2010 1:52pm Feb 8, 2010 1:52pm
Excellent point I never knew how much psychology plays in this game.
I would say without good psychology you can give someone the holy grail and they would still loose sooner or later.

Which reminds me has anyone written a book called The Inner Game of a Forex Trader..good title would make money..
free to use just remeber where it came from
Randy



Quoting Goonerboy
but then you not only need to know where the good entry is but also where your analysis tells you how far a move is likely to go... or have your targets and stick to them - don't have any regrets if you don't get to be part of a bigger move if you made your targets...
One good turn gets most of the blankets.
  • #191,962
  • Feb 8, 2010 1:56pm Feb 8, 2010 1:56pm
Quoting randy1953
Excellent point I never knew how much psychology plays in this game.
I would say without good psychology you can give someone the holy grail and they would still loose sooner or later.
Randy
¡Exactamente!

¿Cómo te va?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #191,963
  • Feb 8, 2010 2:00pm Feb 8, 2010 2:00pm
nice h1 candle, now please break this up trend line and go down..
  • #191,964
  • Feb 8, 2010 2:00pm Feb 8, 2010 2:00pm
Quoting randy1953
Excellent point I never knew how much psychology plays in this game.
I would say without good psychology you can give someone the holy grail and they would still loose sooner or later.
Randy
if I am fishing for a swing trade I will be doing it when I think the market is ready for it, setting up... it doesn't mean that it will play out as I expect but then I am ready for themarketto do things that are unexpected.

I trade intraday and I have an identical strategy for entering a swing trade as I do for an intraday trade... my primary goal is to get the best possible entry, then I manage my trade to safety, then I have my first target to bank some profit.

The swing trade has to give me enough profit to enable me to have my stop in place with enough profit locked in to cover my position.

It really is all straight forward in the exectution of the trade and it is important to keep clear and focused objectives for the trade.

I really cannot recommend Kevin Mezzone as a trader and mentor highly enough - it has taken my a while to pursuade him that his message is valuable to a larger audience and he can be followed at www.tradewavelive.com for free.
  • #191,965
  • Feb 8, 2010 2:06pm Feb 8, 2010 2:06pm
What about this?
Attached Image (click to enlarge)
Click to Enlarge Name: charter.gif Size: 17 KB
  • #191,966
  • Feb 8, 2010 2:06pm Feb 8, 2010 2:06pm
Gator,

Are you still looking for a 3714 or 3734 touch before the move down? This 3666 to 3783 area is strong S and R....
  • #191,967
  • Feb 8, 2010 2:07pm Feb 8, 2010 2:07pm
muy bien y usted/


Quoting realjumper
¡Exactamente!

¿Cómo te va?
One good turn gets most of the blankets.
  • #191,968
  • Feb 8, 2010 2:09pm Feb 8, 2010 2:09pm
Quoting randy1953
muy bien y usted/
Feliz y contento
Doing what you like is Freedom. Liking what you do is Happiness.
  • #191,969
  • Feb 8, 2010 2:13pm Feb 8, 2010 2:13pm
Thanks for the tip..
By the way I got Todd Gordons new video
Todd Gordon - FOREX Trading Using Fibonacci and Elliott Wave

Anyone here wants to view it I have uploaed it on a free server Mega-load. Just PM me for the link

It's very good Todd is the type of trader that does his trades like 4 hours before he executes them.

Randy

Quoting Goonerboy
if I am fishing for a swing trade I will be doing it when I think the market is ready for it, setting up... it doesn't mean that it will play out as I expect but then I am ready for themarketto do things that are unexpected.

I trade intraday and I have an identical strategy for entering a swing trade as I do for an intraday trade... my primary goal is to get the best possible entry, then I manage my trade to safety, then I have my first target to bank some profit.

The swing trade has to give me enough profit to enable me to have my stop in...
One good turn gets most of the blankets.
  • #191,970
  • Feb 8, 2010 2:14pm Feb 8, 2010 2:14pm
perfecto!

Quoting realjumper
Feliz y contento
One good turn gets most of the blankets.
  • #191,971
  • Feb 8, 2010 2:15pm Feb 8, 2010 2:15pm
I think there is a reason to draw attention to USD/JPY its been moving in 10p range for some time now..., looks like there is going to be some kind of brake through...!!!
  • #191,972
  • Feb 8, 2010 2:17pm Feb 8, 2010 2:17pm
Quoting Nud
nice h1 candle, now please break this up trend line and go down..
c'mon bear
  • #191,973
  • Feb 8, 2010 2:18pm Feb 8, 2010 2:18pm
The AO on M30 showing very little of anything will let you know if it triggers on me..
randy


Quoting smokemachine
I think there is a reason to draw attention to USD/JPY its been moving in 10p range for some time now..., looks like there is going to be some kind of brake through...!!!
One good turn gets most of the blankets.
  • #191,974
  • Feb 8, 2010 2:21pm Feb 8, 2010 2:21pm
Quoting randy1953
The AO on M30 showing very little of anything will let you know if it triggers on me..
randy
Ok...! I will keep that pair in sight, cous if it goes down than EUR/USD is down...!!! lets wait and see..!!!
  • #191,975
  • Feb 8, 2010 2:25pm Feb 8, 2010 2:25pm
I have a short running from 3700......looking for 3410. There doesn't seem to be much news this week so perhaps we will range for a while. A good break of 3600 will see me add to the short, and another run up will see me exit at be +10. I might take 1/2 off the table at 3600...depends on the pa if and when we get there.

There's no hurry.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #191,976
  • Feb 8, 2010 2:27pm Feb 8, 2010 2:27pm
Quoting IMARICH1
Gator,

Are you still looking for a 3714 or 3734 touch before the move down? This 3666 to 3783 area is strong S and R....
it got t 3713.. i dont know if its good enough are not. 44 was elusive friday. i looked on a five m candle for comfirmation and it wasnt there. clues were on usdx eux but i discounted 44 on eu. like i said close but no cigar. so i missed it. the reason could be 3713 was not enough to round off to 3714.. with this thought i will say.. yes.. it touched.. if not close enough.. been working on other pairs.. aud looks ripe for drop it passed midpoint.. kiwi has not. i posted chf.. its ready also.. when they all catch up we will move faster.. aud was the lagger to the fall high.. kiwi is the lagger today.. usdx is ready so is eux.. still working on others. the momentem from other pairs is there. im long usd on all majors. for kiwi to catch up it may be the best mover.
those who can, do. those who cant, talk about those who can
  • #191,977
  • Feb 8, 2010 2:32pm Feb 8, 2010 2:32pm
Quoting gatorinla
.. kiwi is the lagger today.. usdx is ready so is eux.. still working on others. the momentem from other pairs is there.
Might need to be careful with the kiwi for the next couple of days. The PM is going to speak today about some major tax reform initiatives that he intends to implement.....and on Wednesday, he is going to detail exactly what the new tax rules are going to be. The thinking is that there will be some form of tax relief for company tax, an possible capital gains tax on properties other than the primary dwelling, and a possible rise of GST.....although he would have to have big balls to raise GST!!

Edit: More details here
Doing what you like is Freedom. Liking what you do is Happiness.
  • #191,978
  • Feb 8, 2010 2:37pm Feb 8, 2010 2:37pm
Quoting realjumper
Might need to be careful with the kiwi for the next couple of days. The PM is going to speak today about some major tax reform initiatives that he intends to implement.....and on Wednesday, he is going to detail exactly what the new tax rules are going to be. The thinking is that there will be some form of tax relief for company tax, an possible capital gains tax on properties other than the primary dwelling, and a possible rise of GST.....although he would have to have big balls to raise GST!!...
sounds like hes easing money. he better. im looking for 5290 with slippage..both aud and kiwi have a 1700 pip potential.. but kiwi has 400 pips before mid point.. aud is already there and will probably rest. until kiwi gets there
those who can, do. those who cant, talk about those who can
  • #191,979
  • Feb 8, 2010 2:40pm Feb 8, 2010 2:40pm
Quoting gatorinla
sounds like hes easing money. he better. im looking for 5290 with slippage..
Yep....I think he's making the right moves, but they won't be popular (locally)!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #191,980
  • Feb 8, 2010 2:46pm Feb 8, 2010 2:46pm
Is anyone seeing double top on 30m chart? Cause i am, and i have opened short at 3685 and 3670, targeted 3645 and 3630.
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