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  • #461
  • Aug 1, 2010 7:53pm Aug 1, 2010 7:53pm
This is a classic reason why traders lose money.

1. They are on 4hr timeframe but zoomed in too much so they cant see anything above the steering wheel.

2. They try too much in one day/one week. This is one of the emotional hurdle. There are so many more pairs of currency that are moving for you right now and trader still stay with their beloved one.

http://img153.imageshack.us/img153/9420/oz3.png
  • #462
  • Aug 1, 2010 8:00pm Aug 1, 2010 8:00pm
Good morning, all

Thank you for the continued interest.

I can see how I have disinterested many readers and messed up the integrity of the thread by adding .00 entry system and my own charts of my own personal focal interpretation.

Can readers please acknowledge me either by pm or post here that they are somewhat following me?

I just have this unfortuante feeling that I have explained just too much for any room for enlightment on the readers par and have turned this thread into another, enter here and exit here type of thing.

I dont know how to rectify it without deleting last 100 posts of mine but I hope out of all this shamble you can at least find something that will work for you in the future.

Your focal interpretation must be like liquid. It can be any shape and size at your will. You must not limit the flow of the water, but actually flow in the direction with the market. After saying this am i making things worse?

Sincerely,

Graeme
  • #463
  • Aug 1, 2010 8:23pm Aug 1, 2010 8:23pm
Quoting pipEASY
Good morning, all

Thank you for the continued interest.

I can see how I have disinterested many readers and messed up the integrity of the thread by adding .00 entry system and my own charts of my own personal focal interpretation.

Can readers please acknowledge me either by pm or post here that they are somewhat following me?

I just have this unfortuante feeling that I have explained just too much for any room for enlightment on the readers par and have turned this thread into another, enter here and exit here type of thing.

I dont...
Hi Graeme,

I don't know about the others reading the thread but I think what you have posted in the last few pages is great stuff. It gives people an idea of how you see the market. Most traders look at the market and don't have a clue of how to properly analyse the market and place trades, especially for long term growth. Let's face it, 90% of traders are looking at 5 and 15 min charts trying to make 10-20 pips and ignore the bigger picture, myself included. I have wanted to move to trading longer term charts and this thread has given me the frame work and understanding of how I might accomplish that goal.

The only reason I asked about entry in a range bound market is to get a feel for how you use S&R and which entry you would have taken based on the S&R within that range. I understand the general concept of taking the breakout trade from the range.
  • #464
  • Aug 1, 2010 8:26pm Aug 1, 2010 8:26pm
Master Graeme:

I've kept following your posts, and i have to say that you started the thread with gold,

then when you said it was done, you added some platinum;

and recently now, you presented some diamonds;

i'm looking forward to your priceless in the coming days (i know there has been enough priceless already, but i just can't stop hoping......)
  • #465
  • Aug 1, 2010 9:15pm Aug 1, 2010 9:15pm
Quoting charvo
Master Graeme:

I've kept following your posts, and i have to say that you started the thread with gold,

then when you said it was done, you added some platinum;

and recently now, you presented some diamonds;

i'm looking forward to your priceless in the coming days (i know there has been enough priceless already, but i just can't stop hoping......)
What comes after that? The Lord of the Rings 'precious'?
  • #466
  • Aug 1, 2010 9:47pm Aug 1, 2010 9:47pm
Quoting charvo
Master Graeme:

I've kept following your posts, and i have to say that you started the thread with gold,

then when you said it was done, you added some platinum;

and recently now, you presented some diamonds;

i'm looking forward to your priceless in the coming days (i know there has been enough priceless already, but i just can't stop hoping......)
Beautifully stated Charvo.
I have been a FF member for years and just thought I would add my thanks to you Graeme, for one of the best threads in a long time. I think you will find there are a lot of people like me who are following your thread silently but avidly. Please continue as the more you add to the thread the clearer it becomes.
I too thought I knew what SR is about but thanks to Dave's astute questioning I now have a clearer idea of how Graeme views SR, so please keep the questions coming!
I thank you with all my heart for this precious thread
Minka
Loss of opportunity is preferable to loss of capital
  • #467
  • Edited 10:10pm Aug 1, 2010 10:00pm | Edited 10:10pm
Thank you for kind remarks

Perhaps for the sake of better learning I should ask questions.

I will show how each traders focal interpretation is different however the result will be same.

Since each traders focal interpretation is different, forum systems do not work to everyone's expectation.

I would like everyone to copy paste below chart and highlight what 'you' think is range and breakouts. And where you would participate. It doesnt matter right or wrong as I will show you in forex there is no right or wrong unless you close a position with a loss.

Im asking all readers to now come forward to me. Tony, rob, member:someone, bakuli, changhm, geoff, dave, pip_daddy, dllap, charvo, andrew and all others. Sometimes you must hit someone to learn how to box.

Show me how you interpret market action.

http://img715.imageshack.us/img715/9616/14503725.png

Edit: Just stepping out now for few hours. Please do not judge other people's interpretation, allow me to do that. Also I would like to see everyone including the new readers to step in here now and show me.
  • #468
  • Aug 1, 2010 10:29pm Aug 1, 2010 10:29pm
Here it is....
Attached Image (click to enlarge)
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  • #469
  • Aug 1, 2010 11:35pm Aug 1, 2010 11:35pm
Quoting pipEASY

I would like everyone to copy paste below chart and highlight what 'you' think is range and breakouts. And where you would participate. It doesnt matter right or wrong as I will show you in forex there is no right or wrong unless you close a position with a loss.

Im asking all readers to now come forward to me. Tony, rob, member:someone, bakuli, changhm, geoff, dave, pip_daddy, dllap, charvo, andrew and all others. Sometimes you must hit someone to learn how to box.

Show me how you interpret market action.
.
My interpretation of your 4 hrly chart. I must confess that I have not much experience of the higher timeframes as I have mainly been trading very short TF's.
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  • #470
  • Aug 1, 2010 11:37pm Aug 1, 2010 11:37pm
Master Graeme:

Thanks a lot for this exercise you recommended. I submit my assignment here to extract your further "diamonds".

Suffering from lack of "a photoshop", my pictures look sort of shabby, sorry for that......


Assumptions of trades:

1. I pretended that I have to work during day, so I only use "daily close" as entry prices (everyday after I go home after work);
2. I can set limit/stop orders at every .00 levels unless there are special reasons.
3. I have not learned your today's recent posts, only trading my own dumb style plus your .00 entry method.
4. Every entry consists of two positions in the same way as your .00 method.

Because of my assumptions, all entries NOT @ .00 levels are indicating the collapse/break of a range, though I didn't draw range and trend lines on chart ---- If I enter, that's because I believe it is not ranging.

* My comments only suggest what I probably think if that's real trading. I sincerely wish you frankly point out my dumbness/stupidity/lack of market perceptions, please!

Many Thanks!
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  • #471
  • Aug 2, 2010 12:03am Aug 2, 2010 12:03am
Quoting brucech
Here it is....
Correct. Nice simple with plenty of space.

You respected the breakout and the flow afterwards.

You entered from .00 on counter trade down. Good.

May I ask where you would be taking buy positions?

Im asking this qusetion cause you have 'spaced out' your focal interpretation nicely. How do you know the middle correction of 100-300 pips was not the start of something new? But, Im confident to say that if that small correction was start of something new (or another range), you would have sent out a scout to test it out most likely when price goes from .00 below to above .00 and enter buy (once again following the flow)?

When you know that downtrend 'looks like' resuming hope you realize this is now a deck of cards with full of high 10 cards and you would enter sells from 1hr or smaller timeframe. Huge additions to your profits.

Overall, well done and im very content.

Sincerely,

Graeme
  • #472
  • Aug 2, 2010 12:14am Aug 2, 2010 12:14am
Quoting Bakuli
My interpretation of your 4 hrly chart. I must confess that I have not much experience of the higher timeframes as I have mainly been trading very short TF's.
Good.

You have correctly analysed first range.

You respected the main downtrend, and tried to mix and match buy and sell positions to cover both sides, excellent however timing is little out of sync.

May I suggest you try .00 autoline indicator as this will help your focal interpretation. It is encouraged to draw your s/r lines on or close to .00. Try it please.

Lets consider your up and down arrows as your attempts, you would still be profit near the end of the chart. Your first 1,3 is definetely still surviving.

I hope this is a related discovery for you and notice that taking less trades reduces drawdows significantly. This is a big help in emotions.

Lets do some more charts together after everyone participates with this one.

Sincerely,

Graeme
  • #473
  • Aug 2, 2010 12:19am Aug 2, 2010 12:19am
This thread is a thing of beauty!
  • #474
  • Aug 2, 2010 12:25am Aug 2, 2010 12:25am
Quoting pipEASY
Good morning, all

Thank you for the continued interest.

I can see how I have disinterested many readers and messed up the integrity of the thread by adding .00 entry system and my own charts of my own personal focal interpretation.

Can readers please acknowledge me either by pm or post here that they are somewhat following me?

I just have this unfortuante feeling that I have explained just too much for any room for enlightment on the readers par and have turned this thread into another, enter here and exit here type of thing.

I dont...
Graeme,

In answer to your question, I'm also one who is following your posts. The only criticism I have is that due to the content (and underlying message) within your posts there seems little reason to go out and buy some new forex books ;-) On a serious note though, as someone new to FX I'm definately glad that I came across your thread.

If you have time, could you reply to my previous post about ways to avoid drawdown. Am I on the right track or is there something else which I've missed which is equally important.

Thanks in advance,
Chorlton
  • #475
  • Aug 2, 2010 12:28am Aug 2, 2010 12:28am
Quoting charvo
Master Graeme:

Thanks a lot for this exercise you recommended. I submit my assignment here to extract your further "diamonds".

Suffering from lack of "a photoshop", my pictures look sort of shabby, sorry for that......


Assumptions of trades:

1. I pretended that I have to work during day, so I only use "daily close" as entry prices (everyday after I go home after work);
2. I can set limit/stop orders at every .00 levels unless there are special reasons.
3. I have not learned your today's recent posts, only trading my own dumb style...
Good.

I can see that you have mini support/resistance everywhere in your focal interpretation.

This is good and bad. Bad: You see entries everywhere and no doubt you would be eager to enter all. Good: You can use this on lower timeframe to great advantage. And you need to do the similar on lower timeframe when we know the higher timeframe is indicating a 'possible' trend soon.

On higher timeframe we are mostly sniffing and prodding

It is good to see the motivation in you to participate in the market however for the next chart we prepare after this one, for fun, take only 1 out of 3 entries and no buy and sell on same .00. You might see a related discovery this way.

Well done however I worry about your potential drawdown.

I do not wish to compare your charts with others but just for your learning sake, brucech and bakuli would have smaller reward than you at the end of the chart however they will have not even 15% of your drawdown.

This will be the most important lesson from this chart that I present to you.

Sincerely,

Graeme
  • #476
  • Aug 2, 2010 12:32am Aug 2, 2010 12:32am
Quoting Chorlton
Graeme,

In answer to your question, I'm also one who is following your posts. The only criticism I have is that due to the content (and underlying message) within your posts there seems little reason to go out and buy some new forex books ;-) On a serious note though, as someone new to FX I'm definately glad that I came across your thread.

If you have time, could you reply to my previous post about ways to avoid drawdown. Am I on the right track or is there something else which I've missed which is equally important.

Thanks in advance,
Chorlton...
Good afternoon, chorlton

Apologies for missing your post somewhere before. I try and address each post but somehow keep missing yours in the flow.

I will definitely go back to it near the end of this chart exercise.

Kindest Regards,

Graeme
  • #477
  • Aug 2, 2010 12:34am Aug 2, 2010 12:34am
I would greatly appreciate it if more readers could please participate

Graeme
  • #478
  • Aug 2, 2010 12:42am Aug 2, 2010 12:42am
Quoting pipEASY
Good afternoon, chorlton

Apologies for missing your post somewhere before. I try and address each post but somehow keep missing yours in the flow.

I will definitely go back to it near the end of this chart exercise.

Kindest Regards,

Graeme
I would also like to complete the chart exercise but am currently at work so can only post infrequently here due to work constraints

PS. I'm now able to post in realtime due to losing my "junior" and gaining my "member" status so hopefully I can keep up with the flow of this thread from now on....
  • #479
  • Aug 2, 2010 12:48am Aug 2, 2010 12:48am
Quoting pipEASY
Good.

You have correctly analysed first range.

You respected the main downtrend, and tried to mix and match buy and sell positions to cover both sides, excellent however timing is little out of sync.

May I suggest you try .00 autoline indicator as this will help your focal interpretation. It is encouraged to draw your s/r lines on or close to .00. Try it please.

Lets consider your up and down arrows as your attempts, you would still be profit near the end of the chart. Your first 1,3 is definetely still surviving.

I hope this...
Graeme,

Thank you for the feedback on my chart interpretation. All points taken on board and very much appreciated.

To all the viewers of this thread, please participate as per Graeme's requests. Together we will learn faster this way.

Bak
  • #480
  • Aug 2, 2010 1:01am Aug 2, 2010 1:01am
Graeme,

In the absence of being able to post charts, can I ask how you would prepare for a trade entry when presented with a ranging period on the chart?

Would you (a) wait for price to break-out of the range and then take the trade, especially if it was in the direction of the bigger trend, or (b) could you place a Buy & Sell order (OCO) at either extreme of the ranging period and allow the Mrkt to fill you in real-time, which might be useful when away from your screen, although I would guess that there is more risk associated with it due to the possibility of a false breakout.

Your thoughts?
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