What do you guys think of a/u? Not sure what fork to keep, so I have two on here for daily. Then a 15min, cuz I know how much you guys love the 15min charts 
- #1,222
- Feb 11, 2010 3:59pm Feb 11, 2010 3:59pm
What do you guys think of a/u? Not sure what fork to keep, so I have two on here for daily. Then a 15min, cuz I know how much you guys love the 15min charts
Harmonics and Pitchfork using korHarmonics from TradingArsenal
- #1,223
- Feb 11, 2010 10:04pm Feb 11, 2010 10:04pm
- Joined Mar 2008 | Status: He who believes has eternal life. | 3,764 Posts
Gbp/Usd 15-Min GMT 08:35am
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
- #1,224
- Feb 11, 2010 10:28pm Feb 11, 2010 10:28pm
Hi Eaglestar:
I perfectly understand your queries. All of my examples were my real trades. I learned this some 13 years ago that, in trading (and in life for that matter), I MUST put my monies where my mouth is; be it right or wrong. I'm very tedious and demanding about this particular point. It's bad enough to lie to others but lying to oneself has to be one of the stupidest things to do. I never use limit orders. At those critical juncture, I look for patterns and price reactions at those areas for confirmation. I look for time frames that are higher than my 'trading time frame' for confirmation and use just one lower time frame to gauge my entries. Tim Morge doesn't do that, I am aware, for me I need to use multi-time frame for confirmation and perspective. I hope I have addressed your queries. Take care.
Have a good one
Jeff
I perfectly understand your queries. All of my examples were my real trades. I learned this some 13 years ago that, in trading (and in life for that matter), I MUST put my monies where my mouth is; be it right or wrong. I'm very tedious and demanding about this particular point. It's bad enough to lie to others but lying to oneself has to be one of the stupidest things to do. I never use limit orders. At those critical juncture, I look for patterns and price reactions at those areas for confirmation. I look for time frames that are higher than my 'trading time frame' for confirmation and use just one lower time frame to gauge my entries. Tim Morge doesn't do that, I am aware, for me I need to use multi-time frame for confirmation and perspective. I hope I have addressed your queries. Take care.
Have a good one
Jeff
Question please-did you actually short there or are those just examples? and if so do you use limit orders for entries or look at price action for better confirmation, and if so do you look at same timeframe or lower timeframe. I hope you understand me. Thanks in advance
~*~You are only one trade away from humility~*~
- #1,225
- Feb 11, 2010 10:43pm Feb 11, 2010 10:43pm
That was a nice set of Andrew's Lines there, Personalme. Take care.
Jeff
Jeff
Miss all EUR related down move today because I was away from my pc. Got only the bounce on EUR/USD for few pips.
Price act respectfully the upper line...
Attachment
...and also bounce from the lower line.
Attachment
Phew that was 200 pips
~*~You are only one trade away from humility~*~
- #1,226
- Feb 12, 2010 1:41am Feb 12, 2010 1:41am
- | Joined Jan 2008 | Status: a small step to the future | 560 Posts
Here's my take on AUD/USD. It broke my upper line on good unemployment news few days ago. Honestly my bias on this pair is now bullish. Red line is my daily support.
What do you guys think of a/u? Not sure what fork to keep, so I have two on here for daily. Then a 15min, cuz I know how much you guys love the 15min charts
Manage your risk accordingly and you're half done your home work.
- #1,227
- Feb 12, 2010 4:40am Feb 12, 2010 4:40am
- Joined Oct 2008 | Status: Just be the witness. | 1,089 Posts
I was watching EJ on 15 min and as usual making things more and more complicated, slowly convinced that it´s time to buy....then all those negative EUR related news and whooosh.......down.
I sold audjpy on the 1H for some pips, but I will be very careful today.
Thanks for the AU pics. I really have no bias at the moment.
I sold audjpy on the 1H for some pips, but I will be very careful today.
Thanks for the AU pics. I really have no bias at the moment.
Be like water.
- #1,228
- Feb 12, 2010 4:43am Feb 12, 2010 4:43am
- | Joined Jan 2008 | Status: a small step to the future | 560 Posts
EUR/JPY once again. After it bounce from lower level, price made slightly upper move before it is doomed because of China raise their reserve requirement for 0.5%. It was 250 pips worth.
One precious thing about Median Line, if you have a valid one, you can take the trade with very low SL and very high TP. Thus the RR ratio will be pretty nice.
Not missed this one actually
One precious thing about Median Line, if you have a valid one, you can take the trade with very low SL and very high TP. Thus the RR ratio will be pretty nice.
Not missed this one actually
Manage your risk accordingly and you're half done your home work.
- #1,229
- Feb 12, 2010 4:48am Feb 12, 2010 4:48am
- Joined Oct 2008 | Status: Just be the witness. | 1,089 Posts
Very good, YOU trade EJ for me next time.....
Be like water.
- #1,230
- Feb 12, 2010 5:12am Feb 12, 2010 5:12am
- Joined Oct 2008 | Status: Just be the witness. | 1,089 Posts
Further development of chart that jhar pointed me to, watching warning lines - see how the drop went to the pip to the warning line down and stopped there........
Be like water.
- #1,231
- Feb 12, 2010 5:26am Feb 12, 2010 5:26am
The said Warning Line just got hit over here at GMT11:24am, some discrepancies of data feeds; which is not a big deal.
Have a good one
Jeff
Have a good one
Jeff
Further development of chart that jhar pointed me to, watching warning lines - see how the drop went to the pip to the warning line down and stopped there........
~*~You are only one trade away from humility~*~
- #1,232
- Feb 12, 2010 6:10am Feb 12, 2010 6:10am
- Joined Oct 2008 | Status: Just be the witness. | 1,089 Posts
Be like water.
- #1,233
- Feb 12, 2010 6:46am Feb 12, 2010 6:46am
- Joined Oct 2008 | Status: Just be the witness. | 1,089 Posts
Be like water.
- #1,237
- Feb 12, 2010 10:18am Feb 12, 2010 10:18am
- Joined Mar 2008 | Status: He who believes has eternal life. | 3,764 Posts
That's ok, practice will make things closer to perfection (though we'll never get there)....
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
- #1,238
- Feb 12, 2010 6:53pm Feb 12, 2010 6:53pm
EUR/JPY once again. After it bounce from lower level, price made slightly upper move before it is doomed because of China raise their reserve requirement for 0.5%. It was 250 pips worth.
Attachment
One precious thing about Median Line, if you have a valid one, you can take the trade with very low SL and very high TP. Thus the RR ratio will be pretty nice.
Not missed this one actually
Harmonics and Pitchfork using korHarmonics from TradingArsenal
- #1,239
- Feb 13, 2010 3:05am Feb 13, 2010 3:05am
- | Joined Jan 2008 | Status: a small step to the future | 560 Posts
Here. Actually I made it on H1 chart but seems it cant fit in one screen anymore. It was plotted on the first lower high occur.
Can't figure out your pivots.. Can you post'em please?
Manage your risk accordingly and you're half done your home work.
- #1,240
- Feb 13, 2010 3:26am Feb 13, 2010 3:26am
Hi Eaglestar:
I didn't read many of the trading books; just a few of them and those are the ones I personally believe are important and valuable. In terms of patterns recognitions, I studied John Murphy's Technical Analysis For the Futures and Commodities Markets. I learn the BASICS of Elliott Wave Principles from Robert Prechter only as I don't like his wave counts especially when it comes to corrective wave counts. Specifically, I don't believe in the 'X' wave counts at all. To me, that's pretty much setting up a perfect situation to allow fooling around with your own brains. I studied long and hard on Robert Miner's materials. I love his wave counts and especially his squaring of Time, Price & Patterns. And finally, a long time follower of Tim Morge trading of the Andrew's Pitchfork. When it comes to Timing The Market, Action and Reaction Lines are indispensable. I don't use indicator anymore, but if I MUST choose one: The RSI. Market Psychology: Paul Tudor Jones' vintage tape on trading the S&P 500 and Mark Douglas' The Discipline Trader & Trading In The Zone. Hope this helps.
Have a good one
Jeff
I didn't read many of the trading books; just a few of them and those are the ones I personally believe are important and valuable. In terms of patterns recognitions, I studied John Murphy's Technical Analysis For the Futures and Commodities Markets. I learn the BASICS of Elliott Wave Principles from Robert Prechter only as I don't like his wave counts especially when it comes to corrective wave counts. Specifically, I don't believe in the 'X' wave counts at all. To me, that's pretty much setting up a perfect situation to allow fooling around with your own brains. I studied long and hard on Robert Miner's materials. I love his wave counts and especially his squaring of Time, Price & Patterns. And finally, a long time follower of Tim Morge trading of the Andrew's Pitchfork. When it comes to Timing The Market, Action and Reaction Lines are indispensable. I don't use indicator anymore, but if I MUST choose one: The RSI. Market Psychology: Paul Tudor Jones' vintage tape on trading the S&P 500 and Mark Douglas' The Discipline Trader & Trading In The Zone. Hope this helps.
Have a good one
Jeff
Thank you for your insights which are very helpful. Can I ask you please what books you may recommend to becoming a better trader and chartist? i am already in Tim Morge daily class and will get into mentorship later. What materials have helped you the most? I have enjoyed looking at your work here and on his forum as well. Have a great one. By the way what trading platform do you use? It looks like mt4 but very clean. Cheers
~*~You are only one trade away from humility~*~