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Attachments: Islander and Medici trade the European open
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Islander and Medici trade the European open

So this is now a sailing thread!? OK. So I can tell that I am just back from dining with a most delighful creature whose ex bought his yacht in the very marina by which Islander lives.

The net total of what she told me could be summarised in - don't buy a yacht even if you can afford two or more.

Another thing she shared was what her late mother used to say: "Beware of the yellow peril."

So if, like me, you thought you were keeping up to date by watching Al Jazeera and Russia Today, your news sources need to be updated...if you want the latest on the currency markets that is:

http://news.xinhuanet.com/english201...c_13537786.htm

http://news.xinhuanet.com/english201...c_13540459.htm

http://news.xinhuanet.com/english201...c_13540443.htm

Could this possibly be related to the Euro rally?
Trade what you see not what you think!

Heard it before, right, but I was amazed to learn over the weekend that the slogan has a neuro-physiological basis - see the attached.

So you may want to join Islander and myself in adding meditation to your trading preparation repertoire.
Attached File(s)
File Type: pdf Farb Segal Anderson 2007 scan paper.pdf   629 KB | 417 downloads
Should be an interesting test of this trend-line over the next twelve hours or so.
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And keep an eye on 1.5816 tomorrow, ok?
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Medici,
Good set of Notes you have posted there, does praying to the forex gods on every trade count????. thanks also for the charts of the wider picture and levels to be careful around.

Did anyone else find trading difficult last week (M1) or was it just myself that was not on the pulse?.

doc.
Quoting medici
And keep an eye on 1.5816 tomorrow, ok?
Nice red line on my pivots at that number, nice resistance for a good entry after open
Money grows on the tree of persistence
Medici,
With the ascending triangle in the Cable 4 hour chart from the beginning of October and then the stagnation to resistance at 15870 since around the 27th of September, are we finally ready to make the run to 1.60 when it breaks above 15880 next time?
Quoting Dr.Scalpall
Medici,
Good set of Notes you have posted there, does praying to the forex gods on every trade count????. thanks also for the charts of the wider picture and levels to be careful around.

Did anyone else find trading difficult last week (M1) or was it just myself that was not on the pulse?.

doc.
No, that works the opposite way
Quoting ozmacca
Nice red line on my pivots at that number, nice resistance for a good entry after open
Told ya...

And the break on the way up was good too...
Quoting aarontalbot
Medici,
With the ascending triangle in the Cable 4 hour chart from the beginning of October and then the stagnation to resistance at 15870 since around the 27th of September, are we finally ready to make the run to 1.60 when it breaks above 15880 next time?
I have absolutely no idea. In line with the "Trade what you see..." post, I try not to make predictions. It doesn't help trading at all.

Trading isn't about reading tea leaves, methinks. Jesse Livermore captures the essence of it well:

The price pattern reminds you that every movement of importance is but a repetition of similar price movements, that just as soon as you can familiarize yourself with the actions of the past, you will be able to anticipate and act correctly and profitably upon forthcoming movements.

In accordance with that it's about waiting for familiar patterns to emerge in order to be able to anticipate the next move.

And this thread started in that spirit but has since had a meandering development in various directions. But my main trading is still pattern recognition during the European morning.

EDIT: Here's an excellent article on pattern recognition and what it takes to develop such skills:

http://traderfeed.blogspot.com/2007/...f-trading.html
Hope you guys are doing good, and making the most of this great volatility.

I do miss both your post trading charts, islander and medici. They used to be a good reference for me to compare where I traded and what I potentially missed.

Either way, I have gained much from your contributions so far.

Thank you once again.

Regards,
K.
Quoting kermut
Hope you guys are doing good, and making the most of this great volatility.

I do miss both your post trading charts, islander and medici. They used to be a good reference for me to compare where I traded and what I potentially missed.

Either way, I have gained much from your contributions so far.

Thank you once again.

Regards,
K.
I'm sorry that our own R & D plus trading keeps us from continuing with an active thread.

However, the methodology continues to work well and Medici has even got me trading the Aussie Dollar which has some nice smooth moves around FO / LO

Great CI divergance too http://cdn.forexfactory.com/images/icons/icon12.gif
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Trading Levels with WRBs
hello here,

i try to learn your method and for my first time i have found a good signal this morming

but unfortunately it seem to not work, i will try to not loose my confidence

best regards
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Quoting mmisters
hello here,

i try to learn your method and for my first time i have found a good signal this morming

but unfortunately it seem to not work, i will try to not loose my confidence

best regards
Hi there, sorry about the loss there. But it's hard to see what your chart has to do with the methods we have posted here. Rarely (never!) would a trade be entered based on an hourly chart only. Could you perhaps explain?
Quoting medici
Hi there, sorry about the loss there. But it's hard to see what your chart has to do with the methods we have posted here. Rarely (never!) would a trade be entered based on an hourly chart only. Could you perhaps explain?
hello,

thank for your reply, i understand that i have understand nothing to your method. I was thinking that i should start on the higher TF to find the big support & resistance and figure, etc. Then, go down to lower TF and find a good entry point.
In my example, the diagonal line + the fibo level was enough for me to have a good potential trade with a good risk/reward ratio. But the market show me that i was wrong.

Best Regard

Stéphane
Quoting mmisters
hello,

thank for your reply, i understand that i have understand nothing to your method. I was thinking that i should start on the higher TF to find the big support & resistance and figure, etc. Then, go down to lower TF and find a good entry point.
In my example, the diagonal line + the fibo level was enough for me to have a good potential trade with a good risk/reward ratio. But the market show me that i was wrong.

Best Regard

Stéphane
Hi Stéphane,

That wasn't such a bad idea, as 3857-60 was/is a key level, so well spotted. But the trade itself would have to be managed on M5 or M1- for example in conjunction with CI and BBs - and would then have been good for plenty of pips. Sometimes levels break, and that's why trading them on a shorter TF is advisable.
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Quoting medici
Hi Stéphane,

That wasn't such a bad idea, as 3857-60 was/is a key level, so well spotted. But the trade itself would have to be managed on M5 or M1- for example in conjunction with CI and BBs - and would then have been good for plenty of pips. Sometimes levels break, and that's why trading them on a shorter TF is advisable.
thank you so much for your reply and your explanations, i will try to study again and/or more
Hi medici,
I just finished reading both of your threads. Wow! What a treasure chest of information. I learned so much from you, Islander and Vantage. I started trading the morning session back in September and that was about the time that I rediscovered your threads (I had seen it before but decided not to read it, what a dumb mistake that was. Or...was it fate? Haha. Who knows.) and started reading it while making notes, printing out the best posts and saving charts. I have to say that I very much enjoy the way you trade the morning session and I tweaked my trading quite a lot over the course of reading the two threads. I still have some testing and tweaking to do, though. I might even have to start reading them again as my other laptop sneaked out, spent a night in Torture Garden and injured her motherboard making the medici folder along with the rest of the data inaccessible.

THANK YOU so much for these two threads, medici! Thank you Islander and Vantage for participating! These two threads along with the supply and demand thread have probably made the road to trading for a living a much shorter one.
If you don't risk, you don't ever have to lose.
Quoting bug
Hi medici,
I just finished reading both of your threads. Wow! What a treasure chest of information. I learned so much from you, Islander and Vantage. I started trading the morning session back in September and that was about the time that I rediscovered your threads (I had seen it before but decided not to read it, what a dumb mistake that was. Or...was it fate? Haha. Who knows.) and started reading it while making notes, printing out the best posts and saving charts. I have to say that I very much enjoy the way you trade the morning session and...
That's good to hear as it makes all the efforts worthwhile. Thank you for letting us know. And thank you for actually reading the lot which would be needed to extract the valuable bits. But do feel free to ask questions should you have any!

And thank YOU for informative threads, from which I picked up a few interesting things already.
Quoting medici
That's good to hear as it makes all the efforts worthwhile. Thank you for letting us know. And thank you for actually reading the lot which would be needed to extract the valuable bits.
One of my core principles when approaching a field that interests me is to dive in deep. That means reading books, articles and whole threads, however lengthy they may be. Indeed some of the best books I've read have been thick and quite deep (requiring thinking) compared to what people usually prefer to read. I have read through a few 200+ pages threads around here and they've been instrumental in my development as a trader (currently I am also reading through the whole James16 thread). Even the original TrendMagic thread which got out of hand half way through was a good read because it taught me a lot of stuff about human nature (propensity to ignore the importance of consistency, envy, lack of patience...they were all there on display for the readers to see). Indeed I would suggest people who are new to this thread to go back to where it all began with the original "medici trades the London open" thread to get a clear picture of what this is all about (no, it's not just the CII, that's just a tool!). However my journey with this thread has not been completed yet as I have not managed to read all the books you suggested. For me this is a delight because I love reading. :nerd:
I also have a superpower called speed reading (reading is a skill that can be developed just like trading).

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But do feel free to ask questions should you have any!
Thank you for offering your help. I will certainly take you up on that when the time comes. I will first have to get my laptop fixed, unfortunately those PC technicians are painfully slow over here (the speed of technical repairs seems to have an inverse relationship with the growth in the operating capacity of PCs). Once I get everything back on line maybe I'll even post a few charts.

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And thank YOU for informative threads, from which I picked up a few interesting things already.
That's a surprise! A good one at that. I'm glad that you've found them useful.
If you don't risk, you don't ever have to lose.
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