The market seems really choppy at the moment, hard to pick a winner. Anyone else experiencing this? Why is the USD/Yen heading north? Thought it was supposed to be heading south for the winter!
Trumpcard
Trumpcard
I love choppy markets. They are relatively easy to trade - support, resistance, fibo, etc. It's better than waiting around for the big trend. At least you get to make some money. Keep your eye on the 1 hour and 4 hour charts, and it becomes quite apparent, where to go long or short.
My 2 cents worth.
)whether its choppy or not becomes less of an issue...
I wont try to judge your trading style Teddy, but beware of the "gut feelings". I personally dont believe in them.
Hi ,
yeah ,surely ,your right , in my opinion there is no such thing as Gut feeling or guess work in forex ,there is only strategy to stick to it and never give it up to survive in this gigantic market.
in my opinion the fx trader must take fx trading as a profession and keep promoting it and do what it takes to not to break the rules of the game .
that easy ,breaking the rules = game over
GUT FEELING is not included in my forex kit to use ,simply because it makes me feel that there is a fish in the ocean and i dont know when that fish will bite my bait.
take care Teddy ,
My opinion is that one must execute the trades following his/her system with ice-cold blood. Gut feelings are potentially dangerous.
Hi ,
yeah ,surely ,your right , in my opinion there is no such thing as Gut feeling or guess work in forex ,there is only strategy to stick to it and never give it up to survive in this gigantic market.in my opinion the fx trader must take fx trading as a profession and keep promoting it and do what it takes to not to break the rules of the game .
that easy ,breaking the rules = game over
GUT FEELING is not included in my forex kit to use ,simply because it makes me feel that there is a fish in the ocean and i dont know when that fish will bite my bait.
take care Teddy ,
I always knew that someday I would make it big
i agree the only charts i have open all the time are 1hr and 4hr charts i use no traditional indicators only pp, support, resistance, zigzag and shi channel, the price almost always hits these points or very close then i make the call it takes patience and discipline but it becomes very predictable. i only trade eur/usd. (my nerves can only handle 1 currency pair
whether its choppy or not becomes less of an issue...
What is the 'shi' channel?
What PP do you look for? All patterns or only specific ones?
(Always interested in learning more...)
- #14
- Edited 9:45am Feb 21, 2006 9:37am | Edited 9:45am
Can you tell us more about what you use to determine s/r?
What is the 'shi' channel?
What PP do you look for? All patterns or only specific ones?
(Always interested in learning more...)
hi i attached a pic of my 1h and 4 hr chart notice the following:
4h chart i have a channel (SHI channel) and zigzag, i use this chart for trend (trend is definitely my friend)
1h chart i have a channel, zigzag and S&R levels (pivot points)
when the zig or zag appear it usually reaches near a S&R level and these levels are tested and if a rebound occurs you know its time to buy or sell
im trying to focus more on the 4h chart and just use my 1h chart for entry and exit. Even if your timing is not right in entering the trade (S&R levels tested and further break occur) the trade will almost always go in you favor eventually just have patience.
I like working with zigzag it measures price movement (bar charts can get pretty congested at times)
by the way on the 4h chart the last zigzag notice the color difference (which i call the zag) is my self-made trendline im predicting price direction (positive thinking
) the real zag will eventually show up.im still doing much testing so nothing perfect
by the way ive been going short on eur/usd since monday
