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EURUSD

  • #345,521
  • Dec 14, 2010 9:05am Dec 14, 2010 9:05am
Attached Image (click to enlarge)
Click to Enlarge Name: planets_and_the_sun_for_sophie.jpg Size: 110 KB

Graph to support previous post
making green pips large and red pips small this is my goal.
  • #345,522
  • Dec 14, 2010 9:05am Dec 14, 2010 9:05am
Quoting Scrat
reading through the posts here i realize that most of you are expert traders, opening and closing profitable trades almost to the pip... tens of pips both directions!... with a keen understanding and interpretation of p.a... something that i still have problems with, after years of live trading and watching markets...
what can i say, shame on me for still being dumb. i should probably return to demo and practice until i achieve the perfection and profitability that i see here...
Do not get the impression that you are alone in that.
  • #345,523
  • Dec 14, 2010 9:05am Dec 14, 2010 9:05am
Quoting T@rantula
Yes, we need to follow the trend exactly.
I was just referring to posts where yesterday many people called 1.55xx without any substantial reason. I am the bear , you are the bull and - lets fight!

I dont approve that. For the people who trade on longer timeframes ( weekly+)
I can understand that personification with an animal but for all others, we just trade what PA can offer.
comon its just for fun man , nothing else

just to lighten things up in this serious mind drilling job.

I am already wearing glasses because of this freaking business .
I SEE YOU !!
  • #345,524
  • Dec 14, 2010 9:05am Dec 14, 2010 9:05am
she no like 1.3500
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #345,525
  • Dec 14, 2010 9:06am Dec 14, 2010 9:06am
Quoting JackintheBox
Hi Tarantula,

i agree with you with the continuation pattern but as you can see on GBP/USD 10minutes before it does not work. (Watch 1 minute base)

For me it is a miracle how lots of people are able to earn money that way because it's often just gambling and you RRratio is mostly only 1.5 .
I could not trade that way.
Besides, I did the opposite ten minutes before and got little profit. I like bounces but it is hard to analyse but more stable in my opinion.

greets Jack

I NEVER EVER trade 1 minute timeframe. Its not my style.

Listen:

An amount of pips u take profit of depends on the TIMEFRAME you are currently trading. If I open a trade on m5 timeframe I would aim for 15 pips maximum. If my SETUP chart is h1 or m30 I aim for 50 pips+ even 100.

Thus, if my setup chart for BPC is m5 i aim to take a profit either for 10 15 pips or at NEXT IMPORTANT level in the direction of the pattern.

You need to know that trading 1m TF is only for the traders who know how to TRADE it effectively. It hasnt been and it WONT be my setup chart for anything.

Not my style.

Remember...patterns work best on higher TFs..even m5..but u know how to exploit it. Leave m1.....my advice to you.
  • #345,526
  • Dec 14, 2010 9:07am Dec 14, 2010 9:07am
Quoting dbfusion
comon its just for fun man , nothing else

just to lighten things up in this serious mind drilling job.

I am already wearing glasses because of this freaking business .
LOL ofcourse..... I got the point.
  • #345,527
  • Dec 14, 2010 9:07am Dec 14, 2010 9:07am
it was a bitter irony... everyone posting on ff is an expert trader isn't it.

Quoting moonchild
Do not get the impression that you are alone in that.
Nihil Sine Deo.
  • #345,528
  • Dec 14, 2010 9:08am Dec 14, 2010 9:08am
Quoting Scrat
reading through the posts here i realize that most of you are expert traders, opening and closing profitable trades almost to the pip... tens of pips both directions!... with a keen understanding and interpretation of p.a... something that i still have problems with, after years of live trading and watching markets...
what can i say, shame on me for still being dumb. i should probably return to demo and practice until i achieve the perfection and profitability that i see here...
Yes ... "in der Kürze liegt die Würze" we uses to say ... it is a bit hard to express such idiomatic things in English ...

But I looked after in my e-dictionary ...

it says ... "Brevity is the soul of the wit" ... but I am not shure if metaphore is correctly ...
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #345,529
  • Dec 14, 2010 9:10am Dec 14, 2010 9:10am
ok with that last move I am not betting on bulls no more.
I am out from the long trial -15 pips

flat on EU
I SEE YOU !!
  • #345,530
  • Dec 14, 2010 9:10am Dec 14, 2010 9:10am
Pipchick, that's for you

http://www.floristonlineindia.com/im...wers/12mix.jpg
  • #345,531
  • Dec 14, 2010 9:11am Dec 14, 2010 9:11am
@scrat: I know what you mean. You have two different ways I know how to get a "feeling" for bounce or break (break is not my passion, i cannot earn that way, so i speak for bounce).

First: Analyze the market very deeply and ask yourself: who drives that market right NOW ?
Second: trade with little money every day 3 hours very intense (intense means watch the market and make about 3-4 Trades).
Write down the rules you got, very important (for me).

I needed about 1 year with breaks to get, yes i can say, profitable after joining forex 8 years before.

Hard stuff, lots of passion needed. And as I said: I cannot understand how to earn money in this market by breakout but I think it works because of very discipline trading and good psych health to stand the drawdowns.

@tarantula: Agree. Timeframe is important on formations like BPC or others but my experience is that this works more and more worse because market is changing to more and more faster way but with flexible targets you could make it. As I said, very good if you can handle that this way.

greets Jack
  • #345,532
  • Dec 14, 2010 9:13am Dec 14, 2010 9:13am
english is my second language too so... uhm... thanks ?!?

Quoting mercy seat
Yes ... "in der Kürze liegt die Würze" we uses to say ... it is a bit hard to express such idiomatic things in English ...

But I looked after in my e-dictionary ...

it says ... "Brevity is the soul of the wit" ... but I am not shure if metaphore is correctly ...
Nihil Sine Deo.
  • #345,533
  • Dec 14, 2010 9:15am Dec 14, 2010 9:15am
Dear all,

I'm from Singapore n I've just started picking up forex trading. It's been my pleasure reading all the posts and I've learnt alot from here. Hope to learn more here.

Cheers!
  • #345,534
  • Dec 14, 2010 9:16am Dec 14, 2010 9:16am
jack... thanks... but it was a bitter irony...
i get annoyed by posts showing screenshots of profitable trades, or claiming profits (closed 30 pips or 80 pips or 5 pips to the plus...) AFTER the move actually happened but never before... with no respect to elementary p.a. interpretation or technical analysis... just a number of pips pulled out of thin air (i would have said pulled out of ass but i thought i should be polite here).
i thought this should be a place where we can talk about serious things, joke about other serious things and most importantly - learn. gator is a good example of how this thread should be.
just my two cents.

Quoting JackintheBox
@scrat: I know what you mean. You have two different ways I know how to get a "feeling" for bounce or break (break is not my passion, i cannot earn that way, so i speak for bounce).

First: Analyze the market very deeply and ask yourself: who drives that market right NOW ?
Second: trade with little money every day 3 hours very intense (intense means watch the market and make about 3-4 Trades).
Write down the rules you got, very important (for me).

I needed about 1 year with breaks to get, yes i can say, profitable after joining forex 8 years...
Nihil Sine Deo.
  • #345,535
  • Dec 14, 2010 9:18am Dec 14, 2010 9:18am
Oh, dont worry, you are welcome scrat
  • #345,536
  • Dec 14, 2010 9:19am Dec 14, 2010 9:19am
Quoting JackintheBox
@scrat: I know what you mean. You have two different ways I know how to get a "feeling" for bounce or break (break is not my passion, i cannot earn that way, so i speak for bounce).

First: Analyze the market very deeply and ask yourself: who drives that market right NOW ?
Second: trade with little money every day 3 hours very intense (intense means watch the market and make about 3-4 Trades).
Write down the rules you got, very important (for me).

I needed about 1 year with breaks to get, yes i can say, profitable after joining forex 8 years...
Jack if you look at tarantulas drawing he and i also play the bounce after the break which on breakout trading gets called a retest .
Just trading the breakout without the retest is very risky depending on timeframe the retest can be done inside one candle so its not always apparant when looking at historical charts.
making green pips large and red pips small this is my goal.
  • #345,537
  • Dec 14, 2010 9:20am Dec 14, 2010 9:20am
Quoting Scrat
reading through the posts here i realize that most of you are expert traders, opening and closing profitable trades almost to the pip... tens of pips both directions!... with a keen understanding and interpretation of p.a... something that i still have problems with, after years of live trading and watching markets...
what can i say, shame on me for still being dumb. i should probably return to demo and practice until i achieve the perfection and profitability that i see here...
Quote:
Originally Posted by crak0 http://cdn.forexfactory.com/images/buttons/viewpost.gif
Got 1.347ish zones as the:

- 38.2 for the 1.428-1.297
- 61.8 for the 1.378-1.297 and;
- Resistance level for the Nov 16/17 bottoms

Attachment 597935

entry 1,3470 based on 382 and 618 fibo

sl 3495
tp open

"almost" perfect trade from today
  • #345,538
  • Dec 14, 2010 9:21am Dec 14, 2010 9:21am
That gartley chart posted was very beautiful
  • #345,539
  • Dec 14, 2010 9:23am Dec 14, 2010 9:23am
Besides: Do you have a strict or flexible business plan ? I have a very strict plan, short and long frame and that gives me the stability I need. But how do you manage that ? I mean of course you gain experience with working patterns etc. but you have no real proof, or do you backtest ? How you set parameters to test ? What about no news like today ? How can you be sure to get the break movin ?

That's I don't understand on break-trading. May be i am to mathematical or statistical asking for every little corner in the room but I think it's nescesary, otherwise I would NEVER risk 500 Dollars/Euros on a trade ! That's crazy for my view.

greets Jack

Paul1 said:
Quote
Jack if you look at tarantulas drawing he and i also play the bounce after the break which on breakout trading gets called a retest .
Correct, of course, yes but in an different way than me, but yes, you are right. And yes that's an argument: with only one 15 minute pause-candle you are not able to see this on 1 hour time frame.
  • #345,540
  • Dec 14, 2010 9:24am Dec 14, 2010 9:24am
Quoting paul1
Jack if you look at tarantulas drawing he and i also play the bounce after the break which on breakout trading gets called a retest .
Just trading the breakout without the retest is very risky depending on timeframe the retest can be done inside one candle so its not always apparant when looking at historical charts.
Aw yea. BPC is more reliable then a pure breakout. ALso there is a Fake breakout trading which is characterized by a double hammer price pattern.
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