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EURUSD

  • #315,621
  • Oct 28, 2010 9:31am Oct 28, 2010 9:31am
Bottom of 5m trendline.... do or die here! hehe.
  • #315,622
  • Oct 28, 2010 9:32am Oct 28, 2010 9:32am
Quoting Venice
Bottom of 5m trendline.... do or die here! hehe.
I'm looking for a break of this trend line for a short, let's see how it goes.
  • #315,623
  • Oct 28, 2010 9:32am Oct 28, 2010 9:32am
is that live account ?

Quoting dbfusion
I respect your opinion but here is mine


trend is never a friend.
trading with it is trying to catch a move you lose more than you win.
its the way the big guys teach people to trade so that 95% of them lose .


my win ratio 90% -95% against the trend
my RR against trend is 1:4 - 1:5

yesterdays gains buying only was 120 pips gain !

today's 20 pips only because of the strong movement and missing one with 50 pips move.
and 30 is on the play now .

I could never ever achieve this graph if i was trading with the trend .

that's...
  • #315,624
  • Oct 28, 2010 9:33am Oct 28, 2010 9:33am
You're welcome T.
  • #315,625
  • Oct 28, 2010 9:34am Oct 28, 2010 9:34am
Quoting dbfusion
I respect your opinion but here is mine


trend is never a friend.
trading with it is trying to catch a move you lose more than you win.
its the way the big guys teach people to trade so that 95% of them lose .


my win ratio 90% -95% against the trend
my RR against trend is 1:4 - 1:5

yesterdays gains buying only was 120 pips gain !

today's 20 pips only because of the strong movement and missing one with 50 pips move.
and 30 is on the play now .

I could never ever achieve this graph if i was trading with the trend .

that's just me and my style...
Impressive statement.
You trade on price action ? or indis ?

Here is the proof counter trend works pretty fine. You just have to find your trading way.
COT: The precious data ignored
  • #315,626
  • Oct 28, 2010 9:34am Oct 28, 2010 9:34am
okay here i am ... LONG !!
  • #315,627
  • Oct 28, 2010 9:37am Oct 28, 2010 9:37am
Quoting DrLobo
okay here i am ... LONG !!
  • #315,628
  • Oct 28, 2010 9:37am Oct 28, 2010 9:37am
Quoting DrLobo
okay here i am ... LONG !!
Stopped out a BE

I give up today
  • #315,629
  • Oct 28, 2010 9:37am Oct 28, 2010 9:37am
closing longs
  • #315,630
  • Oct 28, 2010 9:38am Oct 28, 2010 9:38am
Quoting goods
In all honestly candlesticks do not mean much anymore (dont shoot me but its a rarity), you need to look for confirmation on those candlesticks, hh, hl or ll, lh....
I believe what your saying as well, but candlesticks in higher TF (like H1, H4) seem to work relatively well, but it's not everytime, it's not even most of the time, it's when there is a setup, confluence of supports/resistance levels and various other patterns that I look at.

Like I said candlesticks are the last thing I check, but I do have a good amount of faith in them, but only when they agree with the setups and occur at higher TFs.
P.S. What does LL/HH stande for? Levels?

TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #315,631
  • Oct 28, 2010 9:38am Oct 28, 2010 9:38am
Quoting DrLobo
Stopped out a BE

I give up today
Since when is a BE trade bad?
  • #315,632
  • Oct 28, 2010 9:39am Oct 28, 2010 9:39am
Quoting T@rantula
If u think like that i cannot say that you are a serious trader.
man .
when I trade i am trading with the trend .
but the trend I see what majority don't see

what do you think when most of pple here shorted @ 3810 ?
wasn't it a down trend and they were trading with it selling the rally ?

what do you think of the ppl who bought @ 3970 weren't they screaming going to 1.42? and they were with the trend buying dips ?

the art of trading is to know what is the real trend is and where are the big dogs buying and selling at

at the moment the big dogs collecting their profits after buying from 3770-3730 area . when majority were thinking tanking .

its quite simple yet complicated .

and just to update on my trade.
closed all @ 3884
thats 20 more pips .
I SEE YOU !!
  • #315,633
  • Oct 28, 2010 9:39am Oct 28, 2010 9:39am
Quoting goods
Yes I appreciate and I am trying to filter out the weak attempts by others and I am no more guilty than they are there are alot of great people here. I dont go here asking for where price is going to go because that I believe is the wrong reason to read this forum. Everyone here sees things differently, if people cant make a decision for themselves they need to re-evaluate trading.
Life is one big learning curve, this trading lark is just one step on the way to the next goal. I like the FF threads, full of interesting info - and one quickly learns to both speed read and filter. I never post my trades, I'm neither good enough nor do I see any point in posting details of some past success. I agree there is no point in jumping in at some PA posted on the thread then complaining that you lost. I have learned a lot from reading the information kindly posted and, since my little rant of the other week, I've made some good pips and lost only a few - which is the inverse of what used to happen I don't use anything complicated, just think more before I jump in, follow the trend, and have managed to select reasonable PA. Taking T's advice, I even get more sleep!!
  • #315,634
  • Oct 28, 2010 9:41am Oct 28, 2010 9:41am
dont like the plunge on DOW
  • #315,635
  • Oct 28, 2010 9:41am Oct 28, 2010 9:41am
Longs could be running for the exits pretty soon, check out the candle formation on M30...
  • #315,636
  • Oct 28, 2010 9:42am Oct 28, 2010 9:42am
Quoting dbfusion
man .
when I trade i am trading with the trend .
but the trend I see what majority don't see
Your statement that the trend is the enemy is not serious. There are counter trend setups but if u take this business seriously you would never make such a statement.
  • #315,637
  • Oct 28, 2010 9:43am Oct 28, 2010 9:43am
  • #315,638
  • Oct 28, 2010 9:43am Oct 28, 2010 9:43am
Quoting FibbinArchie
Longs could be running for the exits pretty soon, check out the candle formation on M30...
good spot, i think you could be right.
  • #315,639
  • Oct 28, 2010 9:44am Oct 28, 2010 9:44am
http://www.actionforex.com/trading-s...0101028125481/

  • #315,640
  • Oct 28, 2010 9:44am Oct 28, 2010 9:44am
Quoting goods
thank you I do have one last trade and I am with this bigger trend short but I did not wait for rejection which was stupid so I got stopped out of my short then shorted again at the pause on a psych level. There is resistance here if it is not broken the tren will continue so this is the only reason I am holding onto my trade, if this is the case then...I Pray I can atleast confirm that I was on the right side of the trend and I am going with the overall sentiment and I will make all the money back which I lost.
Unless one is just trying to take a very small scalp, I have always found it is best not to short unless my 60 minute model is bearish. The same thing goes for the inverse if one is trying to go long.

My hourly on the EUR turned bullish at 6:30 PM EST yesterday and only in the last 30 minutes reached what could be considered overbought territory.

I also do not trade contrary to my stochastics model until it is overbought or oversold. The risk/reward just doesn't work out over the long term of making many trades if one does this.
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