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  • #10,921
  • Mar 23, 2010 9:11pm Mar 23, 2010 9:11pm
Personal experience, it bounced off a major trendline and I anticipated at least a retracement to 1st resistance. Dont even CONSIDER that trade as it isnt whats taught on this thread and will only confuse you

I would call it a less then ideal trade and I'm trying to wean myself from less then ideal trades to establish a solid track record.

Good luck with that 5 second thing....STRAT? *runs toward concrete bunker* haha

Quoting Magellan42
what caused you to enter there? was that a scalpish trade? was price that high at 8est? im seein bearish sentiment in the next few days. im practicing scalping the 5 sec(i know, unorthodox for this thread, but to each his own. i need more cap!)

and, hcristea, im watchin that too and waitin for that triangle to POP!
Annoying Precision
  • #10,922
  • Mar 23, 2010 9:20pm Mar 23, 2010 9:20pm
im tryin to follow strat and the others as well. but in my down time, the market is fractal in nature and the 5 sec can be profitable. same rules apply, minus the candles, but MM which is waaaayyy different. (yet similar)
Around the world in 80 pips....
  • #10,923
  • Mar 23, 2010 9:28pm Mar 23, 2010 9:28pm
Thanks and understood.

My buddy "tony" from central banks and big players thread trades a similar way and I'm sure one could be profitable, good luck!

Quoting Magellan42
im tryin to follow strat and the others as well. but in my down time, the market is fractal in nature and the 5 sec can be profitable. same rules apply, minus the candles, but MM which is waaaayyy different.
Annoying Precision
  • #10,924
  • Mar 23, 2010 9:40pm Mar 23, 2010 9:40pm
Quoting erikte279
Thanks and understood.

My buddy "tony" from central banks and big players thread trades a similar way and I'm sure one could be profitable, good luck!
good suggestion (didnt even see that thread). I always love a good thread read. even its BS i learn something.
Around the world in 80 pips....
  • #10,925
  • Mar 23, 2010 11:58pm Mar 23, 2010 11:58pm
From Magellan42:

Quote
im practicing scalping the 5 sec(i know, unorthodox for this thread, but to each his own. i need more cap!)
Practicing on demo, I hope.
  • #10,926
  • Mar 24, 2010 12:29am Mar 24, 2010 12:29am
Quoting erikte279
Seems like a favorable entry. Any thoughts?
Hello erikte

for me personally I was hoping to see PA closer to 102.20 levels, but I am also watching for any entry below support @ 101.40
have you looked at the boss?

Frank
  • #10,927
  • Mar 24, 2010 1:19am Mar 24, 2010 1:19am
Quoting Money Magnet
Hello erikte

for me personally I was hoping to see PA closer to 102.20 levels, but I am also watching for any entry below support @ 101.40
have you looked at the boss?

Frank
we have a doji last week
  • #10,928
  • Mar 24, 2010 1:56am Mar 24, 2010 1:56am
Yes, big boss is sitting above us with another about 40 pips below the LOW.

I've been short since the daily close (8pm est)

Quoting Money Magnet
Hello erikte

for me personally I was hoping to see PA closer to 102.20 levels, but I am also watching for any entry below support @ 101.40
have you looked at the boss?

Frank
Annoying Precision
  • #10,929
  • Mar 24, 2010 2:47am Mar 24, 2010 2:47am
Again and Again and AGAIN!!!

We TRADE TO LIVE. We are NOT like others who LIVE TO TRADE.
We know that our Health is ALWAYS more important than our wealth.
We know trading is NOT a "Get Rich Quick Scheme".
We know trading is a serious business and WE treat our trading as a SERIOUS BUSINESS
We understand we have, like any other profession, to put in the thousands of hours studying, learning and practicing our methods and techniques.
We understand there is NO SHORTCUT to becoming successful and profitable traders.
We understand that successful and profitable trading is 95% psychology and 5% technical skill. We know who and what we have to control.
We need PATIENCE to wait for and "SEE" opportunities
We need DISCIPLINE to act and trade on such opportunities
We are PLANNERS – We always PLAN each and every trade and then Trade the PLAN without exception.
We are BELIEVERS. We believe in ourselves and our PLAN.
We are happy, content and satisfied with where we are in our trading career.
We believe in the Holy Grail. We know what the Holy Grail is. We have found the Holy Grail and our search for trading enlightenment is over.
We can only take what the market gives us - we do "NOT" force the market.
We respect PRICE and the Market.
We understand that PRICE is Lord, King, Queen and Country.
We ACCEPT losses as the cost of doing business
We are PROFESSIONALS and PROFESSIONALS look for a reason NOT to take a trade
We are NOT Amateurs. Amateurs manage money by taking RISK. PROFESSIONALS manage RISK by taking money.


I am a professional trader. My job is to take risk. If I manage my losses and let my profits run I will be successful.
Because I am a professional trader, I will forgive myself easily for making mistakes and move on to new opportunities.
I feel great that I have the discipline to control my emotions and the patience required to be a professional trader.
I am a professional trader and will make $1,000,000 by year end. I will achieve this by following my trading plan, setting achievable goals, and controlling my emotions.
I am confident and believe in my own ability to be consistently profitable because I AM a professional trader.
Annoying Precision
  • #10,930
  • Mar 24, 2010 4:11am Mar 24, 2010 4:11am
u/j........buh bye.......
Annoying Precision
  • #10,931
  • Mar 24, 2010 4:25am Mar 24, 2010 4:25am
Quoting erikte279
u/j........buh bye.......
Hi Erikte

Is this a beginning of a move?

Happy trading
Jideck
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  • #10,932
  • Mar 24, 2010 4:31am Mar 24, 2010 4:31am
We'll see.......im not in this trade now...gotta pass the stink test first. I've gotten burned about a month ago attempting tell the trend when its going to change. I'f this ones going anywhere you and me will have plenty of time to get on the train .

whip it.....

I am in the usd/chf trade though......

Quoting Jideck
Hi Erikte

Is this a beginning of a move?

Happy trading
Jideck
Annoying Precision
  • #10,933
  • Mar 24, 2010 5:47am Mar 24, 2010 5:47am
Quoting erikte279
u/j........buh bye.......
Have you noticed how the moving averages are?? Typical of some move...


Spinner
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Spinner 'Tis in the Waiting.....
  • #10,934
  • Mar 24, 2010 7:25am Mar 24, 2010 7:25am
Quoting elitejets
I don't scale into trades but I will add to them on pull backs if a market is trending...
Hey Strat and Elitejets,

Just wanted to drop a line to thank you both for your posts. They were most helpful! I"m going to try the 1/2 ATR idea as it will most definitely keep my "little people" happy. At this stage I think that gaining confidence is more important than "filling my wellies" (my wellies are more like duck shoes right now however I hope to change into hip waders over the next few years).

I think the recent talk about apprenticeship has been really great. That is exactly the way I view it. We are very fortunate to have Strat and the gang here as there are very few who will share their business or work knowledge, let alone do it for free. Cheers.

John
Finally out of the shadows.
  • #10,935
  • Mar 24, 2010 7:33am Mar 24, 2010 7:33am
Quoting stgeorge
FXpro. This broker is based in Cyprus and they only cover you for $20,000 if they go bust.

One of the larger brokers went bust in the USA a couple of years ago as they were trading as well as broking. So I does happen, even to the pro's!

I have an account with Interactive Brokers, as far as I know they do not trade in their own right. But there feed is bad so I don't use it for charts.

I do have a feed from FXCM and I have the same problem as you!

[b][color=DeepSkyBlue]My charts very often look almost completely...
I have an introducing broker I have used for years who deal through FXCM but they get me the FXPro platform as FXCM's platform is worse than a wet dream!
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,936
  • Mar 24, 2010 7:37am Mar 24, 2010 7:37am
Quoting femfam
This is the scam i got again from the supposed ex-professional forex trade AMIN
.........


Hi Oluwafemi,

I'm sending this email to everyone (thousands) on my list because...
You should threaten to sue the lying bastard - I have all the information here where he told me he went BUST trading M15 and M5 after he couldn't do it on the Daily!
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,937
  • Edited 12:02pm Mar 24, 2010 11:39am | Edited 12:02pm
Will be interesting to see if that TL is retested in USDJPY....a few influencing factors there, both ways....stops versus geopolitical versus (god-forbid) technical. By all rights, 92.30 should top things today.

I will likely shift attention toward a good zone to buy the Greek-Portugese-Italian currency at this point; no rush, though...content to nurse the shorts for the moment. A nice longer term parking spot with some appropriate daily PA should suffice; though classically, one should await a monthly buy pattern and then hop on board. 1.32-1.3350 may be the neighborhood, in my view. Call it a "modified Strat" approach.

Obviusly, though, there are more classic trades available...I am an opportunist, however.
  • #10,938
  • Mar 24, 2010 2:33pm Mar 24, 2010 2:33pm


Quoting Alexandra
Will be interesting to see if that TL is retested in USDJPY....a few influencing factors there, both ways....stops versus geopolitical versus (god-forbid) technical. By all rights, 92.30 should top things today.

I will likely shift attention toward a good zone to buy the Greek-Portugese-Italian currency at this point; no rush, though...content to nurse the shorts for the moment. A nice longer term parking spot with some appropriate daily PA should suffice; though classically, one should await a monthly buy pattern and then hop on board. 1.32-1.3350...
Annoying Precision
  • #10,939
  • Edited 5:24pm Mar 24, 2010 5:07pm | Edited 5:24pm
Quoting erikte279
Indeed, I like it when the crowd is confused!

All kidding aside, 92.30 did hold things. I would really like to see some followthrough in USDJPY, or at least an inspired pause; a return below the trendline would do damage against today's abrupt action.
  • #10,940
  • Mar 24, 2010 5:43pm Mar 24, 2010 5:43pm
I am no where near cracking the surface of this thread, even after weeks, maybe I am a slow learner. However, after the movements of UJ and EJ and other various pairs last night, as I am reading and decoding strat and other seniors' advices/inputs. I am so excited I couldn't contain myself from posting this, I think I finally found the light, it is not on yet, but I found it. After five years, I found something to make me feel like this again.

I am sure many have said this before. Thank you.

Please don't stop the analysis of the current market as I do check the end of the thread, why? Because as I am learning from the beginning, I am applying what I am learning in real time (paper trading), so to have your thoughts is so much help to confirm/reject my own application of the learning material.

There are so many reasons why I respect this thread. Just know, you have my gratitude.
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