I see nice setup for AUD/USD, but cant pull a trigger yet
- #258,221
- Jun 15, 2010 8:47am Jun 15, 2010 8:47am
- Joined Mar 2008 | Status: aka "Johny 1 Lot" | 1,267 Posts
- #258,222
- Jun 15, 2010 8:48am Jun 15, 2010 8:48am
- Joined Oct 2008 | Status: Sentiment and Global Macro | 2,321 Posts
Well a 15-20 pips breather after the last upmove is to be expected, let's see where it goes from here.
I may be wrong on my call, and if so I'll be the first to admit it. We're all learning, hopefully
- #258,223
- Jun 15, 2010 8:53am Jun 15, 2010 8:53am
- | Joined Aug 2006 | Status: Trader | 1,355 Posts
Getting it right is NOT as important as not getting it wrong.
- #258,229
- Jun 15, 2010 9:02am Jun 15, 2010 9:02am
- | Joined Aug 2006 | Status: Trader | 1,355 Posts
Getting it right is NOT as important as not getting it wrong.
- #258,231
- Jun 15, 2010 9:05am Jun 15, 2010 9:05am
I don't agree.....a newbie should only be trading demo.....not with the intention to do what he thinks ......but to apply something he read in a book.......once they have been trying to apply different methods they will start understanding what is happening......Then move onto a system....I think 10 min with macd for entry and 1 hour analysis of the low to high of no more than 3 days.....seeing macd, roc, rsi, candles, bollinger bands, dow, oscilliator trends, to see the different speeds on oscilliator.....like roc25 and roc 7,,,,they have to see the cycles and oscilliators working coherently with price....then notice divergence, cups, hooks, then realize none of that is the answer......then move onto a more professional study of Hurst cycles, or elliott.......learn pattern trading.....that is not WEDGES lol that is elliott........then notice that all helps but doesn't pay......so you move onto time cycles of the pattern....then realize that's not the answer then READ the Master Time Factor "Seekers Creed"......then finally become part of the 4% of the 10% that actually make money with fair returns......Then go crazy and try and be part of the 1% that make millions of 10,000$ and be called either crazy or a fool and the crowd won't accept you........then you realize the truth...........only a few were created to be part of the 1%.....IS THAT YOU?
I was ironic...
The lower the time frame, the harder it is, because you're seeing mostly noise.
All newbies do the same error, mistaking themselves for hft (high frequency trading) trading robots
Do yourself a favor, use the 5 min as your lowest time frame, with lower leverage.
- #258,232
- Jun 15, 2010 9:08am Jun 15, 2010 9:08am
- Joined Mar 2008 | Status: Name real with real own way | 23,414 Posts
Not understand?better not follow my analyses!doubt clearer first, risks ++
- #258,237
- Jun 15, 2010 9:13am Jun 15, 2010 9:13am
- Joined Mar 2008 | Status: aka "Johny 1 Lot" | 1,267 Posts
built a small position on U/C - hope i can keep it 
- #258,238
- Jun 15, 2010 9:18am Jun 15, 2010 9:18am
I don't agree.....a newbie should only be trading demo.....not with the intention to do what he thinks ......but to apply something he read in a book.......once they have been trying to apply different methods they will start understanding what is happening......Then move onto a system....I think 10 min with macd for entry and 1 hour analysis of the low to high of no more than 3 days.....seeing macd, roc, rsi, candles, bollinger bands, dow, oscilliator trends, to see the different speeds on oscilliator.....like roc25 and roc 7,,,,they have to see...
- #258,239
- Jun 15, 2010 9:21am Jun 15, 2010 9:21am
I'm getting ready to go long @ 275 toward 326
What about you mates !?
- #258,240
- Jun 15, 2010 9:29am Jun 15, 2010 9:29am
- Joined Oct 2008 | Status: Sentiment and Global Macro | 2,321 Posts
Big boys don't believe price should not break 1.23 level. I hear them loud and clear. Received my PA short signal but haven't decided if I want to take the trade. Need to know if this will be a trend change or just a retrace. Running the analytics at the moment.
The reason I say trend may change is because, in the past when price could not break 1.23 level, price action experienced lower lows (sign of continued down trend). At the same time, this may be just a small retrace in the works. Looking at the chart, I have to believe price may continue to ride down. I guess we'll know in time. Overall trend is still DOWN.
The reason I say trend may change is because, in the past when price could not break 1.23 level, price action experienced lower lows (sign of continued down trend). At the same time, this may be just a small retrace in the works. Looking at the chart, I have to believe price may continue to ride down. I guess we'll know in time. Overall trend is still DOWN.