"Being picky only cost your time - not MONEY"...Hans
- #1,983
- Oct 8, 2010 2:53am Oct 8, 2010 2:53am
- | Joined Jan 2010 | Status: Trader | 1,354 Posts
I'm afraid to go short. Too flat, it already moved up higher then 35/50. Also this move up was as the result of higher TF support, but as usual anything can happen. Lately I'm a bit confused
"Being picky only cost your time - not MONEY"...Hans
- #1,985
- Oct 8, 2010 3:09am Oct 8, 2010 3:09am
- | Joined Jan 2010 | Status: Trader | 1,354 Posts
"Being picky only cost your time - not MONEY"...Hans
You folks are trading on NFP Friday?
Well, I would not take a chance... as really ANYTHING can happen...
- #1,988
- Oct 8, 2010 3:35am Oct 8, 2010 3:35am
- Joined Aug 2010 | Status: absolute beginner | 5,463 Posts
trading is like dancing, don't think and just listen to the music!
- #1,990
- Oct 8, 2010 11:58am Oct 8, 2010 11:58am
- Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts
- #1,991
- Edited 10:03am Oct 10, 2010 9:47am | Edited 10:03am
Its USDCAD 15M from friday. Had seen someone complaining about "false breakout" in the original dance forum. Chart just jumped at me. No need of any thinking. Just knew what is going to happen
Just two quick comments:
1. About trading the news- I might be wrong there. Yes the PA actually shows which side news will push in my small experience. But its very difficult to trade for retail customers. I missed that part. I trade in interbank and get wonderful fills no matter what. Maybe clay was aware that retail customers will get burnt in all the chaos. So my advise: please stick to rules. they are good.
2. In my limited exp with the system, i find that the best trades are those that confirm with higher time frames. In this trade, ALL the charts were telling same story- SELL! No wonder it worked. Am all charged up for Monday morning now
3. I am just starting here. Please do post comments if you find me taking wrong trades. Will appreciate it greatly.
EDIT: Extremely sorry about that RSI in chart. I used to trade divergence and PA for quite some time and that indicator is just hanging there in my chart- ghost of past f you prefer. Am NOT using it anymore and i would be careful to remove it before posting charts here in future.
Just two quick comments:
1. About trading the news- I might be wrong there. Yes the PA actually shows which side news will push in my small experience. But its very difficult to trade for retail customers. I missed that part. I trade in interbank and get wonderful fills no matter what. Maybe clay was aware that retail customers will get burnt in all the chaos. So my advise: please stick to rules. they are good.
2. In my limited exp with the system, i find that the best trades are those that confirm with higher time frames. In this trade, ALL the charts were telling same story- SELL! No wonder it worked. Am all charged up for Monday morning now
3. I am just starting here. Please do post comments if you find me taking wrong trades. Will appreciate it greatly.
EDIT: Extremely sorry about that RSI in chart. I used to trade divergence and PA for quite some time and that indicator is just hanging there in my chart- ghost of past f you prefer. Am NOT using it anymore and i would be careful to remove it before posting charts here in future.
- #1,993
- Oct 10, 2010 10:13am Oct 10, 2010 10:13am
With oanda I can't stay in the trade during the news. The spread usually increases to 20 pips It stopped me always....What is your broker??
You mean you do not trades before the opening of London?
Regards.
- #1,994
- Oct 10, 2010 10:49am Oct 10, 2010 10:49am
Some interesting points my friend.
I also observe that most times news have been discounted by the market. Somehow the news leak out. It's more rare to see that the price will move according to what you would expect with positive/negative news. So what I do is I try to get a good position half hour before the news. If I get this, I will TP for half my trade and then move the SL close to BE before the news. When the news come out if the price moves in a direction straight away I capture many pips with half my lot. Most times the news will...
Thanks for kind advice.Will try that
- #1,995
- Edited Oct 11, 2010 2:47am Oct 10, 2010 11:21am | Edited Oct 11, 2010 2:47am
- Joined Feb 2009 | Status: Commercial Member <- Don't trust me | 2,976 Posts
- #1,996
- Oct 10, 2010 1:20pm Oct 10, 2010 1:20pm
Its USDCAD 15M from friday. Had seen someone complaining about "false breakout" in the original dance forum. Chart just jumped at me. No need of any thinking. Just knew what is going to happen
Ajaymer, what i think too (from my little experiance) is that you should not completely rely on the 15m, there is a reason why 5m and 1H were suggested (WHICH I IGNORED IN THE BEGINING THAT LED TO MANY LOSE TRADES). I, being a newbie, only take trades that the HIGHER TIME FRAME CONFIRMS.
'To get something you never had, you have to do something you never did.'
- #1,997
- Oct 11, 2010 12:09am Oct 11, 2010 12:09am
- | Joined Jan 2010 | Status: Trader | 1,354 Posts
Very sorry nano. I trade interbank market- spreads are pretty tight in all conditions. And NO SL hunting around here. So i was WAY off in putting that comment. Please ignore. The rules are good. Lets stick with them. That chap Clay knew what he is talking! Lets trust him
Thanks.
"Being picky only cost your time - not MONEY"...Hans
- #1,998
- Oct 11, 2010 2:27am Oct 11, 2010 2:27am
- | Joined Jan 2010 | Status: Trader | 1,354 Posts
"Being picky only cost your time - not MONEY"...Hans
- #2,000
- Oct 11, 2010 2:56am Oct 11, 2010 2:56am
- Joined Aug 2010 | Status: absolute beginner | 5,463 Posts
trading is like dancing, don't think and just listen to the music!