My path to financial freedom | Page 138 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

My path to financial freedom 17 replies

Singapore trader's journal (the road to financial freedom) 8 replies

My Path To Financial Freedom 221 replies

Trade Your Way to Financial Freedom......... 10 replies

Book Wanted - Day Trading To Financial Freedom 0 replies

Attachments: My path to financial freedom
Exit Attachments

My path to financial freedom

  • #2,741
  • Jul 2, 2010 4:11am Jul 2, 2010 4:11am
Quoting nasir.khan
Yea that one where the guy told him that he could trade with just 500$ margin and Jesse waited for ages for his first perfect setup to come up for a start and he then made millions out of those 500$.

Whenever i blow an account and standing at 5$-10$,.... i ask myself,

Can i do what Jesse did?????????

It's impossible for me.

What about the bp stock so low so low so low. I am following it day by day and give that thing a try when the ods are in favor....
  • #2,742
  • Jul 2, 2010 4:23am Jul 2, 2010 4:23am
Trade from last night gonna put stop to breakeven didnt risk much it is a bit gamble trade right now i leave it open with the nfp. But i cant lose anything on it anymore so wanna see more pips GREED!! lol not verry good but wanna give it a try wanna it has also to do with what i think a can be completely wrong but what everyone needs to learn from his mistakes.


And Lovejoy i was wondering if you readed the post above with the charts i posted..
Attached Image (click to enlarge)
Click to Enlarge Name: ey_001.jpg Size: 100 KB
  • #2,743
  • Jul 2, 2010 4:24am Jul 2, 2010 4:24am
Quoting nasir.khan
Yea that one where the guy told him that he could trade with just 500$ margin and Jesse waited for ages for his first perfect setup to come up for a start and he then made millions out of those 500$.

Whenever i blow an account and standing at 5$-10$,.... i ask myself,

Can i do what Jesse did?????????

It's impossible for me.
yeah that's the one...that displayed a great amount of skill.

I could never do it...I couldn't have 100% confidence in any trade that I would risk my whole account! Even if the monetary amount is low it's still the all the trading capital you have and I just couldn't do it.

He displayed great patience and discipline and wasn't affected by fear and he just knew how to read the tape so well...all through years and years of studying it every day. There is a lot to be said in that whole part in itself IMO.
  • #2,744
  • Jul 2, 2010 4:26am Jul 2, 2010 4:26am
Quoting ingmarforex
What about the bp stock so low so low so low. I am following it day by day and give that thing a try when the ods are in favor....
But how will you judge that the odds are in your favor...that is the big task...there are so many potential unknowns still fundamentally. I just can't see how you could judge that the worst is over in relation to the gulf spill and that it's worth going long.
  • #2,745
  • Jul 2, 2010 4:27am Jul 2, 2010 4:27am
Quoting ingmarforex
What about the bp stock so low so low so low. I am following it day by day and give that thing a try when the ods are in favor....
That oil spill case right???

I am not following this thing up and i don't have it on FXpro. lol

If you really want to buy it wait for a big bull bar with big volume and that's all.

and of course when something gets done about the spill. lol
  • #2,746
  • Jul 2, 2010 4:32am Jul 2, 2010 4:32am
Quoting ingmarforex
Thanks guys.

Here some charts they always touch my eyes. by the way lj the thinks i mentioned are they usefull. i should also consider to read bank analysis at the start of the day not the technicall stuff but more the fundamental part to give you a view where they look at. And what i see a bit if you want feedback you do a bit to much it has been told you before bit overtrading you look for to manny setups and watch to much. At the end you miss the good 1s. But that's just my opinion.

ps. If you need some links of some good banks feel free...
Yeah that is clear PPZ area and there is small 4HR pin and a 1HR pin bar too. But I expect the ,markets to be quiet until NFP so I'm not trading this morning.

yeah you are right I was trading too much but my results were very good from it...but then setups have dried up and PA become less reliable following flash crash. I've gone back to basics to trade PA, trend trading, breakouts and only touch trading on major PPZ areas with confluence. Getting back to near 100% weekly gains would fantastic but just focusing on taking high probability setups at the moment and making some gains before I start taking some more 'risky' setups.

I did take a look...it's on my list of things to look at in more detail (it's near the top now!) but yeah if you got links of a few banks that would be interesting.
  • #2,747
  • Jul 2, 2010 4:44am Jul 2, 2010 4:44am
Quote
He displayed great patience and discipline and wasn't affected by fear and he just knew how to read the tape so well...all through years and years of studying it every day. There is a lot to be said in that whole part in itself IMO.

Well he never learned/experienced the tape reading it was all from the first days, he was gifted with it i think.
.
  • #2,748
  • Jul 2, 2010 4:56am Jul 2, 2010 4:56am
Nasir i shorted the stock 1 week after the spill i closed at 350 i sold with only 50 euro's i made 860 on it But now i have to look out i am not getting over confident. It is now at the 300 level it is really low.

But i watch it and look for a buy when it comes same amount 50 euros leverage of 1:20. When i jump in i will post it here

Look at this funny read http://www.telegraph.co.uk/finance/n...oil-price.html

Here some bp charts a t the moment it is going a litle bit up but not lot of momentum. The concern right now are the hurricanes in mexico also oil. Is verry low and could be a good buyer maybe so a watch for the hurricane isnt a bad idea. But whe need to see how it goes farther if there is really coming more demand atleast the production has been reduced but the nr will tell more
http://newsinfo.inquirer.net/breakin...rtheast-Mexico

http://www.reuters.com/article/idAFN...0100702?rpc=44
Attached Image(s) (click to enlarge)
Click to Enlarge Name: bp_weekly.jpg Size: 157 KB
Click to Enlarge Name: bp_monthly.png Size: 22 KB
  • #2,749
  • Jul 2, 2010 5:34am Jul 2, 2010 5:34am
Oke wanna show you something about cot i have been studying a lot last months on fundies only macro and cot. The things i show are not a trade recomedation i also need to learn more but well i look at it and take it on real with a small possition but need patience for this stuff.

I also put a link of banks and more about the cot.

Cot:
http://tradeforexfundamentally.com/b...opportunities/

Banks and stuff i check before trading day nothing more if you haven't readed trader888 his post then i should suggest you to do it.
Also the new market wizards read The chapter the sultan of currencies interview with bill lippschutz you can find the book for free on the net.

Oke here some links i read for the banks you can read there dailly reports.

http://danskeresearch.danskebank.com...tetype=dbopen&
http://www.scotiafx.com/
https://gm.bankofny.com/
http://fxtrade.oanda.com/resources/u...ental_Strategy
http://www.ashraflaidi.com/

And here some charts with cot

http://www.commbank.com.au/corporate...s/default.aspx
Attached Image(s) (click to enlarge)
Click to Enlarge Name: oil_daily1.png Size: 73 KB
Click to Enlarge Name: oil_monthly.png Size: 48 KB
Click to Enlarge Name: cot_hourly_oil.png Size: 33 KB
  • #2,750
  • Jul 2, 2010 6:15am Jul 2, 2010 6:15am
Quoting ingmarforex
Nasir i shorted the stock 1 week after the spill i closed at 350 i sold with only 50 euro's i made 860 on it But now i have to look out i am not getting over confident. It is now at the 300 level it is really low.

But i watch it and look for a buy when it comes same amount 50 euros leverage of 1:20. When i jump in i will post it here

Look at this funny read http://www.telegraph.co.uk/finance/n...oil-price.html

Here some bp charts...
Can't say what you should do with it but play safe.

Ok now what about an oil spill.
.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 38 KB
  • #2,751
  • Jul 2, 2010 6:57am Jul 2, 2010 6:57am
Busy doing other things this morning so not really looking at charts but have taken this. No real space below so looking for it to break the round number and TL hard.

EJ pins looked good too, would have taken those at the PPZ and UCHf boucing off a daily ppz and falling 1HR TL. Finally , sall 1 HR poin on E/AUD of round number and PPZ and in direction of trend. Would have take all of those if was watching charts at the time.
Attached Image (click to enlarge)
Click to Enlarge Name: chfjpy.gif Size: 26 KB
  • #2,752
  • Jul 5, 2010 6:20am Jul 5, 2010 6:20am
Oke guys like i said i post when i buy the bp stock so here whe do it again should it give me great return when i sold it last time whe should see.

I also whent long wheat because the hight temparutures damage the harvest.

Technicall view: hhmmmm Both really low...
Attached Image (click to enlarge)
Click to Enlarge Name: bp.jpg Size: 177 KB
  • #2,753
  • Jul 5, 2010 6:26am Jul 5, 2010 6:26am
Quoting nasir.khan
Can't say what you should do with it but play safe.

Ok now what about an oil spill.
.
Hi Nasir sorry my post didnt give you clarification

What i mentioned there is adivergence in the cot report.

I am looking for buys around 69.50 70 area for oil for a longer way up
  • #2,754
  • Jul 5, 2010 9:28am Jul 5, 2010 9:28am
Two trades from today:

1. GU short, P&V trade.
2. E/NZD long on pin bar
Attached Image(s) (click to enlarge)
Click to Enlarge Name: enzd.gif Size: 18 KB
Click to Enlarge Name: gu.gif Size: 26 KB
  • #2,755
  • Jul 5, 2010 3:45pm Jul 5, 2010 3:45pm
Quoting ingmarforex
Oke wanna show you something about cot i have been studying a lot last months on fundies only macro and cot. The things i show are not a trade recomedation i also need to learn more but well i look at it and take it on real with a small possition but need patience for this stuff.

I also put a link of banks and more about the cot.

Cot:
http://tradeforexfundamentally.com/b...opportunities/

Banks and stuff i check before trading day nothing more if you haven't...
I've read about COT before and I read the link above. I was always under the impression that COT data is released once per week in arrears and thus was really only useful for longer term trading? Where do yuo get your charts and the indicator from?
  • #2,756
  • Jul 5, 2010 3:47pm Jul 5, 2010 3:47pm
Quoting lovejoy80
I've read about COT before and I read the link above. I was always under the impression that COT data is released once per week in arrears and thus was really only useful for longer term trading? Where do yuo get your charts and the indicator from?
www.timingcharts.com
  • #2,757
  • Jul 6, 2010 2:57am Jul 6, 2010 2:57am
Quoting lovejoy80
I've read about COT before and I read the link above. I was always under the impression that COT data is released once per week in arrears and thus was really only useful for longer term trading? Where do yuo get your charts and the indicator from?
Hi Lovejoy,

They are on www.finviz.com and the 1 Neutro mentioned also forexrazor he has weekly reports. But the weekly reports are nice to get a overview but shift are shown also hourly shown at finviz or timingcharts. When i see divergence i look for support or ressistance where in the past (historical) huge volume has been made. At the moment i am thinking also SIlver i think it whil outperform gold they use silver verry much for industry and the rumours are it is hard to get silver the mines produce less. so i keep adding silver. for buys and keep them for some time my goal is to get as less drawdown as possible.

Here the bp i mentioned yesterday today i am up almost 60 euro's with 0 drawdown when i bought just the spread but it was up verry fast
Attached Image (click to enlarge)
Click to Enlarge Name: bpstock.jpg Size: 175 KB
  • #2,758
  • Jul 6, 2010 8:59am Jul 6, 2010 8:59am
Still taking it easy and only taking setups I consider to be low risk (ish).

two trades today so far:

1. Break of TL on E/NZD...took profit when the pin bar formed...missed the subsequent break of the PPZ.

2. CJ - a BUOB after testing the Tl as support, took profit at next PPZ.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: enzd.gif Size: 23 KB
Click to Enlarge Name: cj.gif Size: 16 KB
  • #2,759
  • Jul 7, 2010 12:46am Jul 7, 2010 12:46am
Went long on break of pin bar and long again when hitting the PPZ.

Daily BUOB's on AU, AJ, EU, CJ, YM etc....looking to get into these daily setups on the lower timeframes.
Attached Image (click to enlarge)
Click to Enlarge Name: ecad.gif Size: 19 KB
  • #2,760
  • Jul 7, 2010 6:04am Jul 7, 2010 6:04am
Ran out of patience with these touch trades....

Similar sets on most majors and with YM sitting on support market is ranging between PPZ's
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aj.gif Size: 25 KB
Click to Enlarge Name: uj.gif Size: 24 KB
2 traders viewing now