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Trading With Limit Orders

  • #261
  • Dec 19, 2010 10:27pm Dec 19, 2010 10:27pm
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  • #262
  • Dec 19, 2010 10:43pm Dec 19, 2010 10:43pm
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  • #263
  • Dec 19, 2010 11:12pm Dec 19, 2010 11:12pm
Quoting dragan53
lol hell no,only from todd because hes a legendary trader and he works as a technical analyst for many firms,im moving from indis to fibos now,they seem to work better than other indis,my plan is to be vsa wyckoff -fibos-and il try gann,but thatll be hard-elliot wave if i can work it out,

do u use fibos?
That's cool. There are lots of ways to look at the market.

I only use supply and demand zones because it is simple and effective. All that matters is profit week in week out year after year, how you do it is up to you.

Fibos are certainly interesting but why complicate things? Quality supply/demand zones paired with good r:r is all you need. The rest is up to your ability to stick with your guns and not move your SL/TP, and the ability to go through a long string of painful losers and continue to trade the same lot size in the same manor.
  • #264
  • Dec 19, 2010 11:17pm Dec 19, 2010 11:17pm
Quoting dragan53
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Given the candles I can see there, this is the best entry.

Ignoring all indicators, the gap there shows a massive inbalance of supply and demand. It would be safe to believe that there are sell orders at that price (highlighted as supply). That zone would have provided great r:r.

Not exciting or fancy. Still seems dangerous given the liquidity.
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  • #265
  • Dec 19, 2010 11:28pm Dec 19, 2010 11:28pm
its on 38 now nd 61 for fan,asian trading is very low volume ,its annoying ,
supply and demand is still a no go zone for me until i read mtm,do u evr trade stocks since ur in us,u can get good stock picks from timothy sykes and daytrader rockstar?
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  • #266
  • Dec 19, 2010 11:36pm Dec 19, 2010 11:36pm
Quoting dragan53
its on 38 now nd 61 for fan,asian trading is very low volume ,its annoying ,
supply and demand is still a no go zone for me until i read mtm,do u evr trade stocks since ur in us,u can get good stock picks from timothy sykes and daytrader rockstar?
As far as stocks go, I am just not interested at the moment. The transaction cost is too low for FX, not to mention leverage. If I were to look forward to trading anything other than FX I would look to day trade the /ES, but that's when I have much more time to devote to trading. Until then I'm happy as a clam swing trading FX with limit orders. For now I'm focusing my trading on this style because I'm interested in consistent returns the most, because the goal of all of this boils down to financial independence, and there is only one way to do that (consistent returns)

I think value investing in a diverse portfolio of global (not excluding anyone not even USA) stocks with a 20-30 year time frame has its place when it comes to long term asset management. I especially like dividend reinvestment plans.
  • #267
  • Dec 19, 2010 11:48pm Dec 19, 2010 11:48pm
Quoting frankkn
As far as stocks go, I am just not interested at the moment....
for dividends,i would prefer preffered shares,since the preffered shares have an advantage if teh company doesnt have money to pay the dividend to common stock holders its still gotta pay the preffered ones,they take out the voting right sure,its not like ur vote is gonna make a change,lol,
but i wouldnt choose this option,for me long term investmetn would be physicall gold and silver,

http://www.kitco.com/charts/popup/au3650nyb.html
  • #268
  • Dec 19, 2010 11:53pm Dec 19, 2010 11:53pm
Quoting dragan53
for dividends,i would prefer preffered shares,since the preffered shares have an advantage if teh company doesnt have money to pay the dividend to common stock holders its still gotta pay the preffered ones,they take out the voting right sure,its not like ur vote is gonna make a change,lol,
but i wouldnt choose this option,for me long term investmetn would be physicall gold and silver,

http://www.kitco.com/charts/popup/au3650nyb.html
I mentioned a diverse portfolio of stocks having a place in long term asset management, not that stocks are the only element. I never excluded commodities.

I'm not concerned about one company going under, hence the diversification. The stock portion of a long term asset management plan doesn't have to have the same level of protection as others (i.e. bonds).

Edit:

I'm also not interested in trying to get rich by picking penny stocks. What I want is a blend of assets that fits my unique set of needs (or those of a client) and this will be different from person to person depending on lots of variables.
  • #269
  • Dec 20, 2010 12:20am Dec 20, 2010 12:20am
Quoting frankkn
I mentioned a diverse portfolio of stocks having a place in long term asset management, not that stocks are the only element....
good luck in the options u choose,because ull need it as the financial adviser,
diversity is good,esp with growing commodities,

interesting article
http://www.tradersnarrative.com/copp...-500-3613.html
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  • #270
  • Dec 20, 2010 1:17am Dec 20, 2010 1:17am
This is an interesting video and basically reinforces what we already know. This guy uses contract size to highlight pro traders (Blue bars), and amateaur traders (yellow bars). Have a look at the video and see where he shows the amateaurs are entering the market:
http://emini-watch.com/emini-trading...nd-tells/2209/

He also has a great way of looking at volume and price alongside cyclical turns.

Have a good xmas folks, see you in the new year
  • #271
  • Dec 20, 2010 1:56am Dec 20, 2010 1:56am
great vid,the thing with todays edu videos is that they are only for promotional purposes
  • #272
  • Edited 5:02am Dec 20, 2010 4:11am | Edited 5:02am
Quoting dragan53
great vid,the thing with todays edu videos is that they are only for promotional purposes
Not this guy. He dabbles in programming and his indi's/blog a hobby. Not selling edu. His market logic is first class.

Here's a vid to add to your collection dragan:
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Watched the film the other night - unbelievable!
  • #273
  • Dec 20, 2010 7:37am Dec 20, 2010 7:37am
Quoting Porkpie
Not this guy. He dabbles in programming and his indi's/blog a hobby. Not selling edu. His market logic is first class.

Here's a vid to add to your collection dragan: http://www.youtube.com/watch?v=dZe1AeH0Qz8
Watched the film the other night - unbelievable!
This is actually happening in the town my laws live in. They can't sell the house to get away cause no one wants to move into that kind of thing. For those that they are making millionaires it's awesome but for the one's that don't have gas on the property they are getting screwed. Fortunetly my family saved enough money they can get out but many of these people are just poor folk that worked hard to make nothing for their entire lives and can't go any where. It's really sad to see this happen to such a nice civilized old town.
A woman drove me to drink, and I forgot to thank her
  • #274
  • Dec 20, 2010 7:51am Dec 20, 2010 7:51am
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theres a full movie on youtube

poisoned waters
http://www.pbs.org/wgbh/pages/frontl...tm_source=grid

GMO Trilogy - Unnatural Selection

This explosive exposé reveals what the biotech industry doesn't want you to know - how industry manipulation and political collusion, not sound science, allow dangerous genetically engineered food into your daily diet.

http://video.google.com/videoplay?do...0634181592531#

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  • #275
  • Dec 21, 2010 8:42am Dec 21, 2010 8:42am
This film is about a village in Japan where they slaughter massive numbers of dolphins. They sell it in supermarkets as higher priced Whale meat. Despite culling dolphins at an alarming rate, the problem is the dolphin meat contains huge levels of Mercury causing retardation in adults and limbless, retarded children.

http://www.thecovemovie.com/WatchTheTrailer.htm
  • #276
  • Dec 21, 2010 9:21am Dec 21, 2010 9:21am
Quoting Porkpie
This film is about a village in Japan where they slaughter massive numbers of dolphins. They sell it in supermarkets as higher priced Whale meat. Despite culling dolphins at an alarming rate, the problem is the dolphin meat contains huge levels of Mercury causing retardation in adults and limbless, retarded children.

http://www.thecovemovie.com/WatchTheTrailer.htm
i watched a doco and they say that evry fish in the world now contains some levels of mercury

cancer is us
  • #277
  • Dec 21, 2010 3:46pm Dec 21, 2010 3:46pm
Hey guys sorry for not replying I've been ultra busy recently with holidays and work.

I'm a big fan of documentaries, especially ones that address scheming governments and corporations. Careful talking about some of these things in professional as well as family settings, as they can set some people off the deep end.
  • #278
  • Dec 21, 2010 6:54pm Dec 21, 2010 6:54pm
Stop loss hit me in eurusd ,damm,that means i need a change of strategy
  • #279
  • Dec 21, 2010 9:49pm Dec 21, 2010 9:49pm
Quoting dragan53
Stop loss hit me in eurusd ,damm,that means i need a change of strategy
LOL! NOPE

If you're using a strategy that follows smart money, then it makes sense to trade at the same time as them (which means not taking trades this week)

One loss, one losing week, even multiple losing weeks does not a bad strategy make.
  • #280
  • Dec 22, 2010 1:38am Dec 22, 2010 1:38am
Quoting frankkn
lol! Nope

if you're using a strategy that follows smart money, then it makes sense to trade at the same time as them (which means not taking trades this week)

one loss, one losing week, even multiple losing weeks does not a bad strategy make.
i was somewhat inspired my malcolms post that smart money uses sr lines,so i got bored and started drawing fibos.and then i added trendlines to it,adn that is my strategy now,to the one i strarted trading because of it,identifying tops adn bottoms and gettingout when entry signal comes in,soemwhat swingtrading

usdcad,usdjpy are good to short when theres 2 antennas at the top ,raised by high volume ,then they stop at the same resistance line,and i short them,

should work,i looked at history in graph and thats the pair personality
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