Trade what you see, not what you think or feel. Let the market come to you.
- #782
- Oct 15, 2010 5:24pm Oct 15, 2010 5:24pm
- | Commercial User | Joined Apr 2010 | 2,840 Posts
Trade what you see, not what you think or feel. Let the market come to you.
- #783
- Edited 7:20am Oct 18, 2010 7:04am | Edited 7:20am
- | Commercial User | Joined Apr 2010 | 2,840 Posts
Good Monday Morning Traders,
Made some pips on Eur-Gbp...signal details on the blog. Hope those of you who signed up to receive the email made some pips
.
Eur-Usd at an interesting place. Seeing weakness long-term, though H4 showing some bullish sentiment. Looking like it wants to bounce. Drew in green, dash-dot "What if" fork. Red ML above. Be very careful when and how you enter. Transition intersections can be hairy.
Take care,
FX4Newbies
Made some pips on Eur-Gbp...signal details on the blog. Hope those of you who signed up to receive the email made some pips
.Eur-Usd at an interesting place. Seeing weakness long-term, though H4 showing some bullish sentiment. Looking like it wants to bounce. Drew in green, dash-dot "What if" fork. Red ML above. Be very careful when and how you enter. Transition intersections can be hairy.
Take care,
FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
- #785
- Edited 4:20pm Oct 18, 2010 12:06pm | Edited 4:20pm
- | Commercial User | Joined Apr 2010 | 2,840 Posts
Trade what you see, not what you think or feel. Let the market come to you.
- #787
- Oct 19, 2010 8:48am Oct 19, 2010 8:48am
- | Commercial User | Joined Apr 2010 | 2,840 Posts
Trade what you see, not what you think or feel. Let the market come to you.
- #788
- Oct 19, 2010 8:53am Oct 19, 2010 8:53am
- | Commercial User | Joined Apr 2010 | 2,840 Posts
Well traders,
The long-term bearish sentiment kicked in today taking out more buyers around 1.3831. Let's see how far it will go.
Take care,
FX4Newbies
The long-term bearish sentiment kicked in today taking out more buyers around 1.3831. Let's see how far it will go.
Take care,
FX4Newbies
Good Monday Morning Traders,
Made some pips on Eur-Gbp...signal details on the blog. Hope those of you who signed up to receive the email made some pips
Eur-Usd at an interesting place. Seeing weakness long-term, though H4 showing some bullish sentiment. Looking like it wants to bounce. Drew in green, dash-dot "What if" fork. Red ML above. Be very careful when and how you enter. Transition intersections can be hairy.
Take care,
FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
- #789
- Oct 20, 2010 7:38am Oct 20, 2010 7:38am
- | Commercial User | Joined Apr 2010 | 2,840 Posts
Seems like there was a lot of choppiness across the board. Will sit back and be patient. When things are ready, they will say so .
Our green "What-If" fork did not hold and price fell to other MLH. Approaching another intersection: look well before entering.
Be careful,
FX4Newbies
.Our green "What-If" fork did not hold and price fell to other MLH. Approaching another intersection: look well before entering.
Be careful,
FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
- #791
- Edited 12:10pm Oct 21, 2010 11:22am | Edited 12:10pm
im just planning out a possible trade,and building a case
1 frequency
2multi-pivot line support
3throw in a fib for luck
4clear stop
5 structure higher highs and higher lows [clear up trend]
6 if price fails to reach buy target,this plan is scrapped
7 clear target
9 trading in direction of trend,on a 50% pullback
10 please feel free to add another reason
reasons against
1 large stop
all that being said,i will just wait and see what unfolds,perhaps if im lucky a small gartley will form,
Position sizing,assuming a 10,000 account,entry 8821 stop8772,gives a stop size of 49,risking 1% of account
the math 10,000/100=100/49=2,so 2 units with a 50 pip stop,however
if i could find a more elegant entry with a smaller stop ie-25 pips i could go 4 units for the same risk,this would make the trade a 3 to 1 or better,as the ATR is 89 this seems reasonable,so the chart can stay on 60 min until it nears the target area,then i will drop down to 15min,and look at the price action,now im thinking of a smaller stop to get my risk /reward ratio correct,i will put in a sliding parallel,that tightens it up a bit
- #792
- Edited 12:50pm Oct 21, 2010 12:23pm | Edited 12:50pm
why not ?
so what are we looking for on the indicator,divergance or the blue line crossing the red line,who said trading wasnt fun ?
how about a measured move,the hi 8825 -8736=89
so 8907-89=8818,funny how the last down swing was equal to the daily ATR,
I have 2 sheets of paper,one is the Analysis sheet,the other is the Trade sheet,on the analysis sheet i build the case for the trade,on the trade sheet i write down the trade details,i then enter these in my trade journal at the weekend when the trade is over,i find this takes most of the emotion out of trading,i have also realized that i am trading againts the best in the world,as timothy morge said the other day,you are trading againt me,
- #793
- Oct 21, 2010 2:43pm Oct 21, 2010 2:43pm
- | Commercial User | Joined Apr 2010 | 2,840 Posts
Hello Traders,
It has been a challenging day internet wise, but everything seems fine now. Had a chart ready to post...if I post it now, it will be a joke.
Anyway, will give it a go again tomorrow.
Take care,
FX4Newbies
It has been a challenging day internet wise, but everything seems fine now. Had a chart ready to post...if I post it now, it will be a joke
.Anyway, will give it a go again tomorrow.
Take care,
FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
- #794
- Oct 21, 2010 2:46pm Oct 21, 2010 2:46pm
- | Commercial User | Joined Apr 2010 | 2,840 Posts
Trade what you see, not what you think or feel. Let the market come to you.
- #795
- Oct 21, 2010 6:16pm Oct 21, 2010 6:16pm
- Joined Jan 2009 | Status: Trader | 1,617 Posts
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
- #796
- Edited 2:02am Oct 22, 2010 12:57am | Edited 2:02am
C is a 50% retracement of AB
D point is 8817
IF price fall to that area we could tighted the stop a bit more to icrease the risk/reward ratio,a min stop of 10pips for noise
Thanks for the pitchforks Kapital,you have a much better eye than me,however it seems like the area i am targeting is under observation by other better traders,that being the case i would just follow the smart money
IF price falls below the low of B then the games afoot,it then comes to entry techniques
first touch of lower ML
test and retest
touch and good seperation
there are more way than i could list,however trading at the edges is where the pips are made,
as regards to my entry,i would expect price to pivot around the lower ML LINES or parralles
so i would split my risk stake into 3 units,the first would have quite a wide stop,if it fails so be it
however if price does pivot where i expect it to,when my first position shows a profit i would then enter my other positions,hopefully on the way up on much smaller stops,aka Jessie Livermore
- #797
- Edited 1:41am Oct 22, 2010 1:10am | Edited 1:41am
- | Commercial User | Joined Apr 2010 | 2,840 Posts
Trade what you see, not what you think or feel. Let the market come to you.
- #798
- Edited 1:47pm Oct 22, 2010 1:15am | Edited 1:47pm
- | Commercial User | Joined Apr 2010 | 2,840 Posts
Yes, why not? The Pitchfork is very versatile in that it works with most of the trading methods out there. I think it is in the interest of the trader to gain confirmation from at least two, or at the most three approaches, without becoming overwhelmed. Some people don't need anything but Action/Reaction lines and or Pitchforks and Market Geometry concepts.
Trading is such an individual thing and people process visually very differently. There is a saying that may bring the point home here, not that I subscribe to it totally, but it has some merit in the context we are discussing: "Whatever works is good martial arts".
Take care and keep on your journey.
FX4Newbies
P.S. Side mirrors and cameras on the backs of cars were invented to help the driver eliminate blind spots.
P.P.S. Your approach on paper is a good way to stay objective. Let your findings tell you what to do. Getting the emotion out of trading is the way to go...use whatever is helpful to get you there.
Great job!
Trading is such an individual thing and people process visually very differently. There is a saying that may bring the point home here, not that I subscribe to it totally, but it has some merit in the context we are discussing: "Whatever works is good martial arts".
Take care and keep on your journey.
FX4Newbies
P.S. Side mirrors and cameras on the backs of cars were invented to help the driver eliminate blind spots
.P.P.S. Your approach on paper is a good way to stay objective. Let your findings tell you what to do. Getting the emotion out of trading is the way to go...use whatever is helpful to get you there.
Great job!
Attachment
why not ?
so what are we looking for on the indicator,divergance or the blue line crossing the red line,who said trading wasnt fun ?
how about a measured move,the hi 8825 -8736=89
so 8907-89=8818,funny how the last down swing was equal to the daily ATR,
I have 2 sheets of paper,one is the Analysis sheet,the other is the Trade sheet,on the analysis sheet i build the case for the trade,on the trade sheet i write down the trade details,i then enter these in my trade journal at the weekend when the trade is over,i find...
Trade what you see, not what you think or feel. Let the market come to you.
- #799
- Oct 22, 2010 1:19am Oct 22, 2010 1:19am
- | Commercial User | Joined Apr 2010 | 2,840 Posts
Trade what you see, not what you think or feel. Let the market come to you.
- #800
- Oct 22, 2010 8:17am Oct 22, 2010 8:17am
- | Commercial User | Joined Apr 2010 | 2,840 Posts
Trade what you see, not what you think or feel. Let the market come to you.