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The Dance

  • #641
  • Apr 19, 2010 12:26pm Apr 19, 2010 12:26pm
Quoting Juneman
That is very true Endroute, patience is the name of the game
i should include 1hr of full meditation n mind clearing before london open when i start watching the charts cos im seriously lacking in this area. n im guessin thats y i aint doing that well.
  • #642
  • Apr 19, 2010 12:54pm Apr 19, 2010 12:54pm
Quoting yunielescaz
i should include 1hr of full meditation n mind clearing before london open when i start watching the charts cos im seriously lacking in this area. n im guessin thats y i aint doing that well.
Yuni, its about looking at a trade and saying is this the best possible setup available to me everytime you go to enter a trade. It you want pm me and i'd be willing to give you some help and see where you are going wrong.
  • #643
  • Apr 19, 2010 1:26pm Apr 19, 2010 1:26pm
its alrite i think its more mental than anything else. hit 5-6 bad trades in a row(kept blowing through on touch trades) and it seemed that all the trades i skipped(after overANALysing) became really profitable. so yea confidence got knocked around quite a bit and thus pulling the trigger got a lil slower and thus increasing my SL cos i entered late which compounded to more SLs gettin hit.

so i decided to take a week off to settle all the mental issues n finish up with my selfbashing rather than selfbash myself during trading.

reworked on the demo + re read all the manuals. confident to get going again and i shall start live tomorrow again!!

endroute! stop by the chat room hosted by juneman if you're free. great to see so many like minded people lookin at the same charts sharing ideas.
  • #644
  • Apr 19, 2010 1:34pm Apr 19, 2010 1:34pm
Thanks Clay For such a great thread.

I danced circles around the Euro/Usd and Gpd/Usd today. Made 60 pips in 2 hours of trading.Still working through all the documentation, so it can only get better.http://cdn.forexfactory.com/images/icons/icon7.gif
  • #645
  • Apr 19, 2010 1:48pm Apr 19, 2010 1:48pm
Quoting yunielescaz
....so i decided to take a week off to settle all the mental issues n finish up with my selfbashing rather than selfbash myself during trading.
Taking the time off,,, GREAT idea,,, GET OVER THE BASHING YOURSELF stuff and get over it NOW!

Please excuse the analogy, but you ever see a kid learning to walk "bash" himself because he couldn't get it yet? NO,,, they cried when they fell, then got RIGHT BACK UP, grabbed on to something for support and KEPT WALKING!

"Bashing" ourselves is one of those useless "adult" things we do that complicates our lives. Be more childlike,,, realize you are LEARNING and that means mistakes, often lots of them and KEEP WALKING!

Quote
reworked on the demo + re read all the manuals. confident to get going again and i shall start live tomorrow again!!

endroute! stop by the chat room hosted by juneman if you're free. great to see so many like minded people lookin at the same charts sharing ideas.

Awesome Yunie,,, now,,, (hint hint here) Endroute invited a PM... TAKE THE INVITATION!,,, 'nuff said."

By the way, your doing fine, and you will get better with a bit of time.

God bless,
  • #646
  • Apr 19, 2010 2:14pm Apr 19, 2010 2:14pm
Quoting eclayf
Taking the time off,,, GREAT idea,,, GET OVER THE BASHING YOURSELF stuff and get over it NOW!

Please excuse the analogy, but you ever see a kid learning to walk "bash" himself because he couldn't get it yet?...
Guys Clay is right if you are having problems don't sit around and dwell on it, address the issue head on. Go back review charts, review entries, think about what you were thinking when you made the trade etc.
  • #647
  • Apr 19, 2010 3:07pm Apr 19, 2010 3:07pm
Quoting hardearned
...Made 60 pips in 2 hours of trading.Still working through all the documentation, so it can only get better.http://cdn.forexfactory.com/images/icons/icon7.gif
Welcome Hardearned and thank you for the post. 60 pips in two hours is pretty cool my friend. There are lots of people who would love to have 60 pips in a week.
  • #648
  • Apr 20, 2010 1:06am Apr 20, 2010 1:06am
Thought i post this chart, so as to advise peopl how not to trade!!... took this trade on the EU this morning (long trade) (gmt around 5:30 or so), now the lines on the chart shows my entries, my first entry was where there is almost a double top, now i took this entry as there was a bounce on the 35 ma(black line)... however its clear to see that the real touch was on the 10 some while back.

Then i was even more silly and took another entry.. going long on the second trade,

The Mas where a bit flat as well as price was between the mas on the 1hr so really should have speculated more before going long, total loss so far this morning was about 40pips...
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  • #649
  • Apr 20, 2010 1:13am Apr 20, 2010 1:13am
Now...closed this trade for 20pips profit, so however, i took this short again this morning arounf 6:20am (gmt) or so, this was on the gu, after being burned on the eu which i posted earlier and the gu which i did not post!, this was a perfect touch trade on the d1 on the gu, My entry was 1.5313, i have posted the d1 chart which shows the touch and the 15chart which chose how price dropped, the two lines on the chart is meant to show my entry and exit.
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  • #650
  • Apr 20, 2010 1:15am Apr 20, 2010 1:15am
sorry the daily chart on the gu, following on from my last post
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  • #651
  • Apr 20, 2010 1:32am Apr 20, 2010 1:32am
Quoting eclayf

Awesome Yunie,,, now,,, (hint hint here) Endroute invited a PM... TAKE THE INVITATION!,,, 'nuff said."

By the way, your doing fine, and you will get better with a bit of time.

God bless,
yea would be a great honour for u and endroute to teach me, truly appreciate that. but i guess i'll be posting my problems here so that all the newbies can learn together and save u and endroute the trouble of posting here again.
  • #652
  • Apr 20, 2010 1:52am Apr 20, 2010 1:52am
gentlemen,
sorry to distract from the trading sims and advice, but could some computer hack help me to download the tools, simulater and a few others to mention a few, i have tried all other things mentioned (paper clip, hide images etc) but cant open them unless they are shown PDF???
I have winzip, alzip, but cant get some of the downloads, please help as i am thoroughly enjoying the read and the thread, but i want to get a real understanding before i start.

P.S. great work keep it up.

cheers anthony
Stop killing our Oceans, Stop using single use plastics.
  • #653
  • Apr 20, 2010 2:10am Apr 20, 2010 2:10am
For a constrainment trade on H1, do the bars being constrained need to be part of the 'trading times' for that pair?
For example, there are 3 bars on GBPUSD that are being constrained by the 50 ema, but they are outside the allowable trading times, but the 4th bar being constrained is in the allowable time.
I am not sure if all four bars should be in the allowable time, or as long as my entry is in the allowable time.

Grant
“Make everything as simple as possible, but no simpler.” – Albert Einstein
  • #654
  • Apr 20, 2010 2:43am Apr 20, 2010 2:43am
Quoting gc7
For a constrainment trade on H1, do the bars being constrained need to be part of the 'trading times' for that pair?
For example, there are 3 bars on GBPUSD that are being constrained by the 50 ema, but they are outside the allowable trading times, but the 4th bar being constrained is in the allowable time.
I am not sure if all four bars should be in the allowable time, or as long as my entry is in the allowable time.

Grant
Grant,
I wouldn't be that strict with constrainment bars. If my experience so far serves me well, it seems that during Asian session there is usually some constrainment that resolves during London session. So a good constrainment is a good constrainment independent of time.

Kostas
  • #655
  • Apr 20, 2010 4:02am Apr 20, 2010 4:02am
Quoting jakdan
...but cant open them unless they are shown PDF???
Send me a PM Anthony and I'll email you the files.
  • #656
  • Apr 20, 2010 4:05am Apr 20, 2010 4:05am
Quoting nixie20
sorry the daily chart on the gu, following on from my last post
Nixie,, I can't make heads or tails of your charts. There is nothing showing your entires and I don't see any signals "by the rules" on them. When the lines are flat like that, stay out and wait for a good signal.

ALSO,,, when you post, use the three chart format I specified, THEN I will be able to figure out what you were thinking.

Consider yourself scolded about the three chart setup. It's the only way anyone will be able to actually hep you and it's for your OWN good my friend.

God bless,
  • #657
  • Apr 20, 2010 4:10am Apr 20, 2010 4:10am
Quoting kostas1
.....So a good constrainment is a good constrainment independent of time.
Exactly Kostas. The Session/Currency rule is there to protect newbies from trading when there is less likelihood of any decent signals. With that said, the exceptions Always prove the rules.

A good setup is a good setup anytime it happens and honestly, there is no such thing as a "session" in the markets. Men divide time into sessions, hours, minutes, but the "market" only knows price action movement.

I have missed some VERY good signals only because they happened a few candles before I got to the computer during my "session" and then had to wait for the next signal. It happens. I have also had times, some posted on this thread when I walked in, sat down to read the thread during "off session" time and saw a clear signal, nailed it and then posted.

Good comment Kostas.

I really like seeing so many people answering questions and correcting others. When we get to the point that I am obsolete here, and lots of people can answer all the questions, I'll still be here, but my "job" will be accomplished as many, many others will be fishing and teaching how to fish.
  • #658
  • Apr 20, 2010 4:47am Apr 20, 2010 4:47am
tried pm-ing endroute but it seems like i cant get the pm to go thru. anyways here it is.

hi endroute,

a few of us were eyeing a 10ema touch trade today on the GU 15min at 11GMT on MT4. 10 ema was at 1.53627 and lower wick of that bar was 1.53641 so no trade was taken by us. at the creation of the next bar, 10ema was extended upwards and on hindsight it looked as if 10ema did touch the low wick of the previous bar. i have had this happen to me many times for 10ema a few times on the 35/50s

any advice on this?
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  • #659
  • Apr 20, 2010 4:55am Apr 20, 2010 4:55am
Quoting eclayf
Nixie,, I can't make heads or tails of your charts. There is nothing showing your entires and I don't see any signals "by the rules" on them. When the lines are flat like that, stay out and wait for a good signal.

ALSO,,, when you post, use the three chart format I specified, THEN I will be able to figure out what you were thinking.

Consider yourself scolded about the three chart setup. It's the only way anyone will be able to actually hep you and it's for your OWN good my friend.

God bless,

Sorry my friend!, i considered myself scolded!, when i was posting my trade on gu, by the time i i looked up from writing, price had done 20 and was resting on the 35ma on the 1hr, so i closed the trade, i then used the lines on mt4 to highlight where i entered and the other line where i exited, the third line in the middle is my buy price from mt4, i can't remove it it shows me how far away from the actual price i'd be if i bought at that time (on the 15m chart) i have the linke to fscapture so will download it, my charts will be as sexy as yours and kostas soon!

Similarly again with the silly trades i took on the eu, i used the line to show where i entered, i entered twice, once when price was above the 35ma and again when price was below thinking price would rebound up, and clearly as you said, the mas where very flat on the eu..., i simply saw price touch the 35 ma going up and took it, which looking at the chart now does not really show the touch, overall not a good trade, i was clearly hunting for a trade here, hence i posted it to stop people from making the same mistakes,

Not to worry though!!, next time my charts will be better
  • #660
  • Apr 20, 2010 5:06am Apr 20, 2010 5:06am
Quoting yunielescaz
tried pm-ing endroute but it seems like i cant get the pm to go thru. anyways here it is.

hi endroute,

a few of us were eyeing a 10ema touch trade today on the GU 15min at 11GMT on MT4. 10 ema was at 1.53627 and lower wick of that bar was 1.53641 so no trade was taken by us. at the creation of the next bar, 10ema was extended upwards and on hindsight it looked as if 10ema did touch the low wick of the previous bar. i have had this happen to me many times for 10ema a few times on the 35/50s

any advice on this?
Hi Yunie,

I have had the same prolem many a time where the MA catches up on the following candle creating a touch on the previous candle. Scannig back through the charts these situations can provide good trades but not taken due to this situation. Let's hope Endroute or Eclayf can shed some light on it.

Also, not any criticism but the candle you show on your chart is not 11:00 GMT but 11:00 CET (Central European time). It was 10:00 BST and therefore 09:00 GMT. Just so everyone can find the correct candle.

good pipin

N
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