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  • #352,141
  • Dec 27, 2010 1:47am Dec 27, 2010 1:47am
Quoting apt
No, I'm not a fortune teller. I am just trying to learn to ride the wave as much as the next guy.

Right here we are seeing some resistance, and hell who knows, this could drop 40 pips right now before London session.

And you would be fucking pissed.

But guess what, it's terrible trade practice. 9 times out of 10 , London decides. We can't get greedy.

I'm starting to make back my money, you want to make money?

Don't ever speculate which way a currency is going. Who cares. Your job is to profit off that currency rallying to all time...
Thanks. But I don't know for which reason gatorinla told about 3157. I think he has some calculation with his system?
In forex, one currency is always up!
  • #352,142
  • Dec 27, 2010 1:49am Dec 27, 2010 1:49am
short 3163
  • #352,143
  • Dec 27, 2010 1:49am Dec 27, 2010 1:49am
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Quoting PayTheLimit
you might want to consider that London is on holiday today....
It's not just the Banks and Government financial institutions, it's a psychological event when a Market opens.

Everyone who is trading goes by that time, it affects their belief in the current trend.

If it drops 10 pips within the next hour, everyone will believe thats where we're going, and we will end up there.

Just the way Fib ranges work, are fib numbers real? Who knows, but they end up becoming self fulfilling, why? Because everyone believes they are.
  • #352,144
  • Dec 27, 2010 1:50am Dec 27, 2010 1:50am
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Quoting kidspips
Thanks. But I don't know for which reason gatorinla told about 3157. I think he has some calculation with his system?
Yeah he has a pretty intricate system, as lot of other people do.

Best thing is just take what you like from everyone, and make your own.

Kind of like your personality, it's not really your own, just what you liked from 100 other people till this point in your life. And theres no perfect personality, just the one you like the most.
  • #352,145
  • Dec 27, 2010 1:51am Dec 27, 2010 1:51am
Quoting kidspips
Thanks. But I don't know for which reason gatorinla told about 3157. I think he has some calculation with his system?
I don't know gatorinla's reasons but I have 1.3155 as an important S&R level from two weeks ago.
  • #352,146
  • Dec 27, 2010 1:52am Dec 27, 2010 1:52am
Apt, nothing personal, but you sound like you're wrapped pretty tightly right now. Reading your posts, it seems like you're letting emotions take control. Nothing good happens when trading on emotions.
You might want to consider taking a few days off of trading after you close out your current position. Get drunk and get your head back on straight.
That's not a criticism, just an observation.
  • #352,147
  • Dec 27, 2010 1:52am Dec 27, 2010 1:52am
Quoting PayTheLimit
you might want to consider that London is on holiday today....
London boys are too lethargic these day , holiday they get a logic now , ok . tracing pa for the next bull short by 3 H1 candles towards 3190-3222 may be above 3129, 37 around or little up will close shorts first though .
insulting works at times !! a spike up !!
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #352,148
  • Dec 27, 2010 1:53am Dec 27, 2010 1:53am
Quoting apt
You can do what you want.

I was sharing my personal insight with him. And he can also do what he wants.

But a candle closing at 1M, 15M, or 1H, doesn't have a cosmic attachment to it.

It's just the end of a time frame. And the only timeframe that matters are Market Opens and Closes.
perception makes its own reality. there is a reason you have candles on your chart. they are not just for show. they can help keep you out of bad trades. and invite you to good ones. as on anything they are not 100%. 3150 was a predictive.. it will provide soft s/r... but we usually retrace after a wave is complete.
those who can, do. those who cant, talk about those who can
  • #352,149
  • Dec 27, 2010 1:54am Dec 27, 2010 1:54am
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Quoting iflyjetzzz
Apt, nothing personal, but you sound like you're wrapped pretty tightly right now. Reading your posts, it seems like you're letting emotions take control. Nothing good happens when trading on emotions.
You might want to consider taking a few days off of trading after you close out your current position. Get drunk and get your head back on straight.
That's not a criticism, just an observation.
I think you're mistaking written text for emotion.

Maybe you should take a lesson on lack of empathy via written text.
  • #352,150
  • Dec 27, 2010 1:55am Dec 27, 2010 1:55am
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Quoting gatorinla
perception makes its own reality. there is a reason you have candles on your chart. they are not just for show. they can can keep you out of bad trades. and invite you to good ones. as on anything they are not 100%.
Exactly, thats why Pivot Points, Trend Lines, Candles and Fib lines have such a strong backing.

It's self fulfilling. Most traders have been taught to respect these, but they aren't magical, it's only because everyone else believes they are.

It's all psychological; perception so to speak.
  • #352,151
  • Dec 27, 2010 1:56am Dec 27, 2010 1:56am
Quoting apt
Yeah, I'm just starting to find my comfort zone.

Like Magix said however, was quite an expensive learning experience for me.

I use M15 bar and H1 bar chart.

Candles are contradicting at times, especially if you're not a long term trader.

The most important thing to trading however, is timing. Forget everything else.

If you damn well know that the Asian session retraces 40 pips, and sits in a range for 4 hours between 10-20 pips, then is pushed up another 30 pips during Frankfurt 80% of the time, then TRADE IT.

Scalp it, do...

Trade the way that you win not the way someone is trying to convince you for whatever reason.

If you damn well know that the Asian session retraces 40 pips, and sits in a range for 4 hours between 10-20 pips, then is pushed up another 30 pips during Frankfurt 80% of the time, then TRADE IT.

Scalp it, do whatever you have to do.

Take profit, even if you missed out on another 20 pips, who cares, never give anything back.

Sit back out, wait for London session to decide where it's going to go for the next 80-100 pips, and ride the chunk of it. Make sure you spot a 100% movement, and take 40-60 pips.

Turn off your computer, and repeat the next day.
  • #352,152
  • Dec 27, 2010 1:58am Dec 27, 2010 1:58am
Quoting Forexpro30
The original reaction was as expected as US Dollar Index got stonger and EUR/USD weaker. Many are on holidays and the move by China is now being seen in a positive way in their need to control the inflation by the FED QE2.

Gold is now moving up and the grains are not selling off.

Now we are back in the pattern of before the holidays however there are few traders around other than the retail traders.

The NEW Benchmarks just before I get a few hours sleep is as follows;

EUR/USD 1.3120 Almost back to where we were on the 24TH

EUR/JPY 108.79...

The original reaction was as expected as US Dollar Index got stonger and EUR/USD weaker. Many are on holidays and the move by China is now being seen in a positive way in their need to control the inflation by the FED QE2.

Gold is now moving up and the grains are not selling off.

Now we are back in the pattern of before the holidays however there are few traders around other than the retail traders.

The NEW Benchmarks just before I get a few hours sleep is as follows;

EUR/USD 1.3120 Almost back to where we were on the 24TH

EUR/JPY 108.79 Up from the low at 108.42

USD/JPY 82.91 Steady and below 83 and up weaker from 82.75

USD/CAD 1.0077 Stronger with Oil holding now abovr 91.35

GBP/USD 1.5423 Back over 1.5400

USD/CHF .9613 Holding steady

AUD/USD 1.0034 Moving off the low at 99.87 with Gold moving up

XAU/USD $1,383.00 SPOT Moving from low of $1,377.00

SPX500 1254.90 SPOT Bouncing off the lows

XAG/USD $29.15 SPOT Back over $29.00 Spot

USOil $91.33 SPOT Holding over $91 and no profit taking.

US30 11,557 SPOT Up 22 to down 31 now.

Things should stay quiet. No trades to do and off to bed until 2:30 AM

http://cdn.forexfactory.com/images/misc/progress.gif

  • #352,153
  • Dec 27, 2010 1:58am Dec 27, 2010 1:58am
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Quoting Forexpro30
Trade the way that you win not the way someone is trying to convince you for whatever reason.
Yeah, I wish I figured it out earlier though.

Good morning.
  • #352,154
  • Dec 27, 2010 1:59am Dec 27, 2010 1:59am
Quoting apt
Exactly, thats why Pivot Points, Trend Lines, Candles and Fib lines have such a strong backing.

It's self fulfilling. Most traders have been taught to respect these, but they aren't magical, it's only because everyone else believes they are.

It's all psychological; perception so to speak.
actually fibs take place in nature. we have nothing to do with them..numbers naturally have a 50% mark ect. if people trade by then they are reality.
those who can, do. those who cant, talk about those who can
  • #352,155
  • Dec 27, 2010 1:59am Dec 27, 2010 1:59am
dun know about u gator.. but my 1hr chart seems to suggest 1.31575 as the important s/r line..
There is no royal road to anything.
  • #352,156
  • Dec 27, 2010 2:01am Dec 27, 2010 2:01am
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Quoting gatorinla
actually fibs take place in nature. we have nothing to do with them..numbers naturally have a 50% mark ect.
I'm speaking related to Forex.

And again, just like everything else, numbers also can be coincidental. Not to counter great scientists or mathematicians, but we cannot leave everything to he said she said.

Just like there are thousands of animate and inanimate objects in the universe which cater to Fibonacci, there are just as many that don't. Food for thought.
  • #352,157
  • Dec 27, 2010 2:04am Dec 27, 2010 2:04am
Quoting apt
I'm speaking related to Forex.
....Just like there are thousands of animate and inanimate objects in the universe which cater to Fibonacci, there are just as many that don't. Food for thought.

So your choice is Fibonacci?
  • #352,158
  • Dec 27, 2010 2:05am Dec 27, 2010 2:05am
Quoting Leinadgnow
dun know about u gator.. but my 1hr chart seems to suggest 1.31575 as the important s/r line..
.
Attached Image (click to enlarge)
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those who can, do. those who cant, talk about those who can
  • #352,159
  • Dec 27, 2010 2:05am Dec 27, 2010 2:05am
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Quoting puma1
So your choice is Fibonacci?
For me it's the strongest psychological barrier, when it comes to humans making trades.

I only follow what humans do, not magic numbers.

Humans are going to sell at 50% Fib numbers because they think it's magical? Guess what, if you can't beat them, join them.
  • #352,160
  • Dec 27, 2010 2:05am Dec 27, 2010 2:05am
Quoting apt
Yeah, I wish I figured it out earlier though.

Good morning.
It has been going down since then. Here is where the secret of real trading starts. You are conditioned now to see it go down however today it might go up. Why because we are in holiday markets and some other factors are at play now since December 24TH.

Just be careful trading in thin markets.

Money Flow moves markets not the charts that 75% of all forex traders lose with.
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