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  • #315,121
  • Oct 27, 2010 7:27pm Oct 27, 2010 7:27pm
Quoting Geppy
Our definitions of "broken" are very different. Adding shorts here...
So did I, at least to S1 I think this babe is going down.

Quoting Solis
nice chart http://cdn.forexfactory.com/images/s...m/thumbsup.gif
Tks man, keep watching there are further better chartist than me in the thread.
  • #315,122
  • Oct 27, 2010 7:31pm Oct 27, 2010 7:31pm
Quoting moonchild
Just be happy that it is your broadband and not your electrical service which is the problem. I would love to fire my electric provider but there is no other. I am truly tired of unexpectedly losing electricity for a few minutes to 10 hours.
I wouldn't mind so much if I wasn't on hold on a premium rate number for 20 minutes and still no one can be bothered to answer.

Even if I do get through they'll just say it's a fault with my modem and book an engineer, but it ain't it's a problem with their frig**n network, exactly the same thing last night, had to close my open positions early by phone and this morning broadband working fine, so it defo ain't my modem, third time this month, they're not providing the service that I'm paying for...

So have had to pay for a 24 hr subscription to the local BT wi-fi hot spot.

Virgin Media btw, sure it's 01.00am here, but come on you're telling me they don't provide 24hr telephone support? Useless!!
  • #315,123
  • Oct 27, 2010 7:36pm Oct 27, 2010 7:36pm
naked and clear
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  • #315,124
  • Oct 27, 2010 7:40pm Oct 27, 2010 7:40pm
Quoting T@rantula
Ok now the time has come to explain something about indicators to all of u indicator followers.

Ok, first of all I dont believe in indicators. My primary method has always beenreading PA. All I need is fibos, trendlines, swing points, murrey math levels etc..


T

Hi T@rantula,

I totally agree with you about indicators. How can a few coloured lines predict what the future holds. I have read that indicators are essentially illusions and perhaps it is exactly what they are. Based on some mathematical calcs they just try to predict what is about to happen.

PA, combined with money management is the name of the game. I have followed you and some other successful PA traders. While there is no doubt about your successes, I am still looking for clarification as to how trendlines, fibs and murray maths are different from the illusionary indicators?

Trend lines are drawn from a price point that existed minutes, hours, days, weeks and months ago. What makes that price point compared to current price points any different from the illussionary indicators?

Fibs, once again is a relationship of past prices to current price with a touch of some sort of prophetic numerics. Any different from ppl trying to analyse probable price levels down the line through a study of phases of moon ??

Trend lines, fibs and murray maths and similar analysis procedures are perhaps no different that analysis procedures based on indicators.

When you go through the trades taken by different traders here, you do see PA traders taking trades in literally opposite directions. And often,both are winners, depending on their management skills.

Ppl are talking of USD reaching the skies and within hours they are talking EURUSD parity, all based on trend line, fibs, indicators and any other analytical tools available.

In my opinion, money management rules. Any of the analysis tools could be successful, provided proper trade management are applied. And without a doubt only hard work and patience only can get you there.

TF
  • #315,125
  • Oct 27, 2010 7:50pm Oct 27, 2010 7:50pm
Quoting moonchild
Just be happy that it is your broadband and not your electrical service which is the problem. I would love to fire my electric provider but there is no other. I am truly tired of unexpectedly losing electricity for a few minutes to 10 hours.
If trading is your business, then do you have a backup plan for issues like this. Lets say another internet connection as a backup like a smartphone with data service to manage trades or a simple phone call to broker.

I know, I learned my lessions the hard way too.

Peace
  • #315,126
  • Oct 27, 2010 7:51pm Oct 27, 2010 7:51pm
................or a fellow trader that you trust that has access to your account.
  • #315,127
  • Oct 27, 2010 7:52pm Oct 27, 2010 7:52pm
Does that look like a break to you all? Please don't judge me on my level of of Forex knowledge based on my post count.. While it is true I have only been trading a few months, I have had the great privilege of being mentored by one of the best in this game the entire summer so I do have some idea about what I am talking about.
  • #315,128
  • Oct 27, 2010 7:56pm Oct 27, 2010 7:56pm
Quoting disegnosys
If trading is your business, then do you have a backup plan for issues like this. Lets say another internet connection as a backup like a smartphone with data service to manage trades or a simple phone call to broker.

I know, I learned my lessions the hard way too.

Peace
I have a laptop but the problem is that it is only good for about 2 hours without electricity and is not as reliable as the desktop for several reasons.

As to other ways of contacting the broker that becomes a problem in some countries and telephones are not a viable means in this country. Normally all my international calls are actually made throught the internet because of that.

My only solution when a large account is involved, which it is not at present, is to trade with a partner who can handle things if I am not online for any reason.
  • #315,129
  • Oct 27, 2010 8:04pm Oct 27, 2010 8:04pm
Quoting T@rantula
Ok now the time has come to explain something about indicators to all of u indicator followers.

Ok, first of all I dont believe in indicators. My primary method has always beenreading PA. All I need is fibos, trendlines, swing points, murrey math levels etc..

I created Black Widow system that is supposed to save time. I always analyze trend before making an entry. That analysis can take some time. With Black Widow that time is saved. Moreover Black Widow is compatible with PA trading and it should confluence with it.

There are some indicators...

Sehr gut ... das bringt die Sache auf den Punkt!

Eins druff mit Mappe...

Well ... I do trade levels and limits ... and I never act before a certain specific calculated level has been reached ... master key is the daily range for me and a specific three day trend by trend potential calculation ...

I start with various limits at predefined levels and different leverage ... in order to adjust BE (fine tuning) mostly ...

Only sometimes ... I need to have some fun ... and try out funny crazy countertrend trades with various levelation modells ... as often those are much faster profitable ... but only at a very limited time quality points ...

Overall ... I do not like to watch screens and charts ... best results I have ... when only hear or see a specific price level ... that was in my imagination before ... then I get active without wasting time by watching screens with tons of grafical views ... never hesitating around then much ... as confirmation costs too much ...

Absolutely best results I did have while I have been on nice yourneys with a REUTERS Pager in my pockets only and superfast trading desk connections in PHONE-BROKER aera (without any Internet) ... no charts has been needed for that ... even not a piece of paper to draw my own imagination of a chart ...

And you are very rrright ... only naket BARCHARTS are used in successful trading room meetings and planning sessions ... nothing else then ...

THE REST ARE THINGS THEY WOULD NEVER TELL IN INTERNET

I was yesterday ... in countertrend trade setups allday long ... but at the end of the day ... I was up more than 140 pips green only in EU pair ... more than 40 complete round turns has been needed for that ... and more than 200 - 300 partial order executions entry or exits ...

While I was writing this ... I had some jolly nice trades ... two way fast trades between 1.3797 and 1.3815 reverso and 1.3806 for example ...

Therefore I never have soo much time to read posts or to chat in forum ...

By the way ... we had some really good members lost here ... now at other places ... das gibt zu denken

Anyway ... thanks for your useful thoughts / views expessed there ...





Greetings
mercy
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #315,130
  • Oct 27, 2010 8:05pm Oct 27, 2010 8:05pm
Quoting moonchild
I have a laptop but the problem is that it is only good for about 2 hours without electricity and is not as reliable as the desktop for several reasons.

As to other ways of contacting the broker that becomes a problem in some countries and telephones are not a viable means in this country. Normally all my international calls are actually made throught the internet because of that.

My only solution when a large account is involved, which it is not at present, is to trade with a partner who can handle things if I am not online for any reason.
Ok, I see, I wasn't a where of all your issues but best of luck in solving your problem.

Peace and good trading to you.
  • #315,131
  • Oct 27, 2010 8:07pm Oct 27, 2010 8:07pm
channel break looks like it may hold...
  • #315,132
  • Oct 27, 2010 8:15pm Oct 27, 2010 8:15pm
Quoting FibbinArchie
channel break looks like it may hold...
Remains to be seen. It poked it's head above on a single bar on the 5M, and then slithered right back underneath during the next bar on my chart. I want to see it higher, but thus far you have piss-all for buying at 3800 other than running the mandatory 3800 stops.
  • #315,133
  • Oct 27, 2010 8:18pm Oct 27, 2010 8:18pm
just a thought
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  • #315,134
  • Oct 27, 2010 8:19pm Oct 27, 2010 8:19pm
Yeah could well be a stop running exercise, not crossed back under yet mind... I'm looking at M1
  • #315,135
  • Oct 27, 2010 8:29pm Oct 27, 2010 8:29pm
this is 4h
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  • #315,136
  • Oct 27, 2010 8:46pm Oct 27, 2010 8:46pm
Support acting at 1.37300 on H4. Possible retracement to 1.38857 resistance zone. If resistance valid at 1.38557 zone on H1, I will short for the day. (my noob strategy). Just testing
  • #315,137
  • Oct 27, 2010 8:48pm Oct 27, 2010 8:48pm
I use a car 12 v battery attached to a regular UPS unit with a simple charger. gives me up to seven hours of electricity during those annoying interruptions.
  • #315,138
  • Oct 27, 2010 8:56pm Oct 27, 2010 8:56pm
Quoting nawafasad1
this is 4h
it sounds interesting, i like it

what do you think is the target for the fifth wave?

i am asking because as i can see in your thought the first wave is almost equal to the third wave, which means the fifth wave will be the longest one, am i right?
  • #315,139
  • Oct 27, 2010 8:59pm Oct 27, 2010 8:59pm
Quoting T@rantula
Indicators are mathemathical formulas based on price and time. They try to predict future moves.
You may also use some to get a better picture of the past. I like to sometimes check a RSI and/or a CCI. I don't believe any of them will predict anything, but they may help to know where you are in a trend and give some hints (divergences).

Seeing those as past PA analysis tools, not as crystal balls, is not so silly for me. Taking countertrend trades just because a stoch or a RSI is in overbought/sold area is something really stupid, I agree.
Don't just be a sheep : make your own idea of it.
  • #315,140
  • Oct 27, 2010 9:02pm Oct 27, 2010 9:02pm
Quoting T@rantula
Ok now...
Hey mate... while this is your opinion, I have successfully implemented the use of stochastic.

Perhaps used in a way that is different then what you are thinking though? Stochastic is a representation of price action. If you are reading price action, it is directly correlated to how the stochastic is drawn. If I blind trade stochastic, it gives me, on average a 92% chance of at least being in profit within the next 3 bars. That statistic is enough for me to trade, and have been doing it successfully in the equities market for over 2 years now. This statistic is just a representation of my trades since I track all of that information. Sometimes it's simply a BE or BE+1 or 2. Other times it catches the beginning of reversals or small up trends.

I'm sorry that you have not had better luck with it, or failed to understand what it is representing. I think to completely discredit what works for someone else, even if it failed you, as completely useless is a little extreme.

As long as we are making pips, why does it matter?

Support and trend lines the same thing can be said. They are their to be broken and to be obeyed... does that mean I discredit the folks who are trading based off of this? Absolutely not.

As long as the pips are coming in and consistently... support should be given...
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