- #1,082
- Jul 13, 2010 3:55am Jul 13, 2010 3:55am
- Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts
Yes, kep it simple as possible, at least at begining. With time you will learn price behaviour and patterns without knowing their names, you will just see when to enter. I was impressed when someone was making some calls and was thinking : "why there ? ohhh its going in profits, how he knew etc..."
It comes with time. One good advice... don't switch systems every day, it will kill you (i know something about that
)
Off topic:
In my opinion only one aditional ma is worth to add on GU - 200EMA. Price respects it on all TF's.
Switch to 5min and look: i entered long at 1.5023 (1-2-3), pivot, crossed 200ema), sl moved to be+5 when 15M 200 was very close, pierced so next is 200 ma 30M, sl at 1.5050 tp 1.5080 (1H 200ema).
It comes with time, you'll be milking forex all way with time.
I checked many forums with many systems with indicators like rsi, macd, awesome oscillator, aligator etc... Most of them are loosing systems if you pick ups every signal. Remember:
never buy ea's
never buy signal service (bought one and it was scam as hell)
never listen to someones calls.
It's funny when someone made one good call and think that he's forex guru and tries to sell his system or start paid service. I'm reading eur/usd and cable threads and only thing i can see - spam spam spam, more loosing trades, one good trade and more spam how good is someone.
I got proposition about starting service or something... lol no ! You have all to learn and make it on your own. Later you'll be making 2-3 trades daily and have a life.
Just observe prices and you will learn how to trade with minimum risk.
I spent 4 months in front of screen for 10 hours daily with dancing and learned much more that last 2 years. I see now how patterns are forming but my favorite is 1-2-3... and i'll end with that.
There are days when i'm not trading because never saw good entry and i'm losing whole day watching charts, but it happened once this month so far.
It comes with time. One good advice... don't switch systems every day, it will kill you (i know something about that
)Off topic:
In my opinion only one aditional ma is worth to add on GU - 200EMA. Price respects it on all TF's.
Switch to 5min and look: i entered long at 1.5023 (1-2-3), pivot, crossed 200ema), sl moved to be+5 when 15M 200 was very close, pierced so next is 200 ma 30M, sl at 1.5050 tp 1.5080 (1H 200ema).
It comes with time, you'll be milking forex all way with time.
I checked many forums with many systems with indicators like rsi, macd, awesome oscillator, aligator etc... Most of them are loosing systems if you pick ups every signal. Remember:
never buy ea's
never buy signal service (bought one and it was scam as hell)
never listen to someones calls.
It's funny when someone made one good call and think that he's forex guru and tries to sell his system or start paid service. I'm reading eur/usd and cable threads and only thing i can see - spam spam spam, more loosing trades, one good trade and more spam how good is someone.
I got proposition about starting service or something... lol no ! You have all to learn and make it on your own. Later you'll be making 2-3 trades daily and have a life.
Just observe prices and you will learn how to trade with minimum risk.
I spent 4 months in front of screen for 10 hours daily with dancing and learned much more that last 2 years. I see now how patterns are forming but my favorite is 1-2-3... and i'll end with that.
There are days when i'm not trading because never saw good entry and i'm losing whole day watching charts, but it happened once this month so far.
Yes, kep it simple as possible, at least at begining. With time you will learn price behaviour and patterns without knowing their names, you will just see when to enter. I was impressed when someone was making some calls and was thinking : "why there ? ohhh its going in profits, how he knew etc..."
It comes with time. One good advice... don't switch systems every day, it will kill you (i know something about that
Off topic:
In my opinion only one aditional ma is worth to add on GU - 200EMA. Price respects it on all TF's.
Switch to 5min...
M
- #1,088
- Jul 14, 2010 2:41am Jul 14, 2010 2:41am
Just picked out a very easy trade on cable.
Price came down to test the confluence of the 50ema, M3 pivot level and a clear support level from yesterday. Price action formed an outside bar/engulfing candle which along with pinbars/hammers are my favourite type to trade.
Price action on 5min formed an engulfing followed by a couple of hammers, so a slightly earlier entry was a possibility however I think the best was the blue line as shown on the 15min chart.
Comments please!
Price came down to test the confluence of the 50ema, M3 pivot level and a clear support level from yesterday. Price action formed an outside bar/engulfing candle which along with pinbars/hammers are my favourite type to trade.
Price action on 5min formed an engulfing followed by a couple of hammers, so a slightly earlier entry was a possibility however I think the best was the blue line as shown on the 15min chart.
Comments please!
- #1,090
- Jul 14, 2010 2:50am Jul 14, 2010 2:50am
Just picked out a very easy trade on cable.
Price came down to test the confluence of the 50ema, M3 pivot level and a clear support level from yesterday. Price action formed an outside bar/engulfing candle which along with pinbars/hammers are my favourite type to trade.
Price action on 5min formed an engulfing followed by a couple of hammers, so a slightly earlier entry was a possibility however I think the best was the blue line as shown on the 15min chart.
Comments please!
Attachment
I missed that one
, Darn this 9-5 job, looked at the chart just a little too late. Must train myself too keep looking at the candle close.
Cheers
Simmo
- #1,094
- Jul 14, 2010 4:07am Jul 14, 2010 4:07am
- Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts
I took the same trade, but if you look left on the 15min you'll see another reason why it was such a good place, its also yesterdays high. It acted as resistance yesterday, then broke through in Asian session came back and retested the same area, or as Kenneth Lee would call it, PPA (Previous Price Action).
.You should listen to her advice and hope she will bring more luck in your trades.
Kostas
- #1,095
- Jul 14, 2010 4:11am Jul 14, 2010 4:11am
I want to welcome luckylady in our thread
You should listen to her advice and hope she will bring more luck in your trades.
Kostas
- #1,097
- Jul 14, 2010 6:21am Jul 14, 2010 6:21am
- Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts
My first loser with this method
any comments ?
- #1,100
- Jul 14, 2010 6:29am Jul 14, 2010 6:29am
- Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts