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Nearly Naked (Simple Trades)

  • #6,581
  • Jul 20, 2010 7:06pm Jul 20, 2010 7:06pm
Quoting erikte279
Heres the issue, did price stop there because it wants to resume the bull trend OR did price stop there because it was a logical area for a retracment to occur after such a large sell off?
That is we trade on smaller frame,for example on H4 for me is clear Uptrend and as i posted i waiting for Up about 150 pips i posted this trendline to you too see that always we can see 2 diferent ways becouse newbies learn in that way better when we speak about Forex problematic...I dont post this for me or for exp traders i posted this to try teach new traders fo find their way to trade...


Cheers
"Buy on fear, sell on greed !!!
  • #6,582
  • Jul 20, 2010 7:29pm Jul 20, 2010 7:29pm
You've made a lot of pips for new traders on your thread.

Quoting Petar_Serbia
That is we trade on smaller frame,for example on H4 for me is clear Uptrend and as i posted i waiting for Up about 150 pips i posted this trendline to you too see that always we can see 2 diferent ways becouse newbies learn in that way better when we speak about Forex problematic...I dont post this for me or for exp traders i posted this to try teach new traders fo find their way to trade...


Cheers
Annoying Precision
  • #6,583
  • Jul 20, 2010 7:30pm Jul 20, 2010 7:30pm
Lets see how this works out
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Annoying Precision
  • #6,584
  • Jul 20, 2010 7:33pm Jul 20, 2010 7:33pm
Quoting Petar_Serbia
That is we trade on smaller frame,for example on H4 for me is clear Uptrend and as i posted i waiting for Up about 150 pips i posted this trendline to you too see that always we can see 2 diferent ways becouse newbies learn in that way better when we speak about Forex problematic...I dont post this for me or for exp traders i posted this to try teach new traders fo find their way to trade...


Cheers

Pet,

thanks for the info its great. One thing i struggle with is knowing where to trade. For example i can spend hour looking through charts drawing TLs, fibs etc. What i want to know and maybe others can comment is how do you look for trades. do you only use certain currencies, or in fact does it take a bit of time to find something your looking for in a trade.

basically what i want is, and if you care to share. how would you start your days trading.

news? reviwing current trades, reviewing past charts etc?
  • #6,585
  • Jul 20, 2010 7:42pm Jul 20, 2010 7:42pm
Take note
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Annoying Precision
  • #6,586
  • Jul 20, 2010 8:04pm Jul 20, 2010 8:04pm
A/U... Possible quick DP bounce trade coming up.
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #6,587
  • Jul 20, 2010 8:18pm Jul 20, 2010 8:18pm
Quoting nick7r
Pet,

thanks for the info its great. One thing i struggle with is knowing where to trade. For example i can spend hour looking through charts drawing TLs, fibs etc. What i want to know and maybe others can comment is how do you look for trades. do you only use certain currencies, or in fact does it take a bit of time to find something your looking for in a trade.

basically what i want is, and if you care to share. how would you start your days trading.

news? reviwing current trades, reviewing past charts etc?
Tnx for Tnx

To be honest with you i spend many many hours looking at the chart and try to find my princip to trade according my personality.My advice for all newbies is to download strategy wich he think is good here on FF and than just to practice,practice and practice but i must say very imporant thing about strategy.Dont change strategy every week as like many newbies,stick to one strategy 2,3 months to see wich is that strategy for your personality.

Main thing when you trade is Money Menagement.If you dont have MM every strategy will be bad to you.
I didnt lost any cent from Forex since i start to trade on live 2 yeras ago,but i must say also i was learning about Forex 1.5 year and than i started to trade on live acc with small balance.
Forex is a job and for every Job you must have KNOWLEDGE to be a good jober.You will for sure fail if you didint educate and if you didndt practice Forex.Why 95 % loose ?Very simple,how many guys finished Harvard University?I want to say most people wont to spend many many hours front on PC and many many hours with book....I think you will undestand what i said...

Wish you happy learning and many pips in future and never give up in this buisniese.


Cheers and trade safe

Petar
"Buy on fear, sell on greed !!!
  • #6,588
  • Jul 20, 2010 8:22pm Jul 20, 2010 8:22pm
Quoting nick7r
basically what i want is, and if you care to share. how would you start your days trading.
news? reviwing current trades, reviewing past charts etc?
Nick,

Not to butt into your conversation with Petar but I thought this might help...of course it all depends on the tools that you use. ie. MA's, S/R's, TL's, Fib's, etc. but this is what I do.

1.Wake-up
2.Drink Coffee
3.Scan the upper TF's (Daily & H4) looking at the trend, candles, S/R's and position of MA's
4.Once I have the overall picture for the day I zoom into a H2 and H1 TF to again look at the candles, S/R's and position of MA's. This helps to identify key areas that may be "pivot" areas.
5.Then I zoom into the M15 TF and watch PA move along the MA's and indicators I use: (typically only Stochs and Aroon on M15).
6.If an area is fast approaching that may reverse PA then I wait for that area...if the area is far off then I might look for a place to enter and follow the current trend until that key "pivot" area is touched.

In regard to the TL's. Make sure that they are not bogus...and that there are plenty of candles to verify their accuracy... too many times have I seen other people's charts that have TL's drawn all over them. I wonder what cloud they are sitting on... but then again I'm not an artist and rely on the hard facts to place my trades.

Let me know if I can help out anymore.
-Marc
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #6,589
  • Jul 20, 2010 8:36pm Jul 20, 2010 8:36pm
Quoting MarcVUM
Nick,

Not to butt into your conversation with Petar but I thought this might help...of course it all depends on the tools that you use. ie. MA's, S/R's, TL's, Fib's, etc. but this is what I do.

1.Wake-up
2.Drink Coffee
3.Scan the upper TF's (Daily & H4) looking at the trend, candles, S/R's and position of MA's
4.Once I have the overall picture for the day I zoom into a H2 and H1 TF to again look at the candles, S/R's and position of MA's....
Your day is ok but just change 1 with 2
"Buy on fear, sell on greed !!!
  • #6,590
  • Jul 20, 2010 8:38pm Jul 20, 2010 8:38pm
Quoting Petar_Serbia
Your day is ok but just change 1 with 2
  • #6,591
  • Jul 20, 2010 8:40pm Jul 20, 2010 8:40pm
Quoting Petar_Serbia
Your day is ok but just change 1 with 2
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #6,592
  • Jul 20, 2010 8:41pm Jul 20, 2010 8:41pm
Quoting MarcVUM
Nick,

Not to butt into your conversation with Petar but I thought this might help...of course it all depends on the tools that you use. ie. MA's, S/R's, TL's, Fib's, etc. but this is what I do.

1.Wake-up
2.Drink Coffee
3.Scan the upper TF's (Daily & H4) looking at the trend, candles, S/R's and position of MA's
4.Once I have the overall picture for the day I zoom into a H2 and H1 TF to again look at the candles, S/R's and position of MA's. This helps to identify key areas that may be "pivot" areas.
5.Then I zoom into the M15 TF and watch PA...
Mine is roughly the same, just get rid of 1 and times 2 by 10. Then minus the sleep
  • #6,593
  • Jul 20, 2010 8:46pm Jul 20, 2010 8:46pm
Go markets said there was an "error". Good thing all my targets were already hit.
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Annoying Precision
  • #6,594
  • Jul 20, 2010 8:50pm Jul 20, 2010 8:50pm
Guys i must go to sleep now,seya tomorow....



I think this you will need >






CHeers
Attached Image
"Buy on fear, sell on greed !!!
  • #6,595
  • Jul 20, 2010 8:51pm Jul 20, 2010 8:51pm
Quoting Petar_Serbia
Guys i must go to sleep now,seya tomorow....
CHeers
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #6,596
  • Jul 20, 2010 8:58pm Jul 20, 2010 8:58pm
Hey Marc, opinion on 8856 ?
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  • #6,597
  • Jul 20, 2010 8:59pm Jul 20, 2010 8:59pm
Quoting Petar_Serbia
Guys i must go to sleep now,seya tomorow....



I think this you will need >






CHeers
Wow that looks good. Drooling all over it, I wish room service in my hotel could make this......
Find a job that you love and you dont have to work again in your life.
  • #6,598
  • Jul 20, 2010 9:03pm Jul 20, 2010 9:03pm
http://i25.tinypic.com/28utsaq.png
  • #6,599
  • Jul 20, 2010 9:08pm Jul 20, 2010 9:08pm
Quoting Saxon
Hey Marc, opinion on 8856 ?
PA is in such a precarious situation with the MA's here on the Weekly, Daily and H4 that I could make a case for both upward and downward movement. You know what they say though: 3 times a charm! I wouldn't be surprised to see PA consolidate between 8840 and W R1 today through Wednesday and then shoot higher come Thursday blowing right past 8856.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #6,600
  • Jul 20, 2010 9:32pm Jul 20, 2010 9:32pm
This is what I'm seeing on A/U right now on the M15... Buy point is in the white oval. If I can stay awake I may just trade it.
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
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