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  • #382,461
  • Feb 8, 2011 5:00pm Feb 8, 2011 5:00pm
Quoting OldQuant
I'm no chartist, but it would seem to me it does matter, given that trend lines are drawn off candles' extenders, and a small change can have a large effect when those lines are extended.

Is that wrong?
Depends your trading style. Usually tl are connected wick to wick some do connect bodies. If u connect bodies it affects and also when a daily candle without a wick prints itself (can happen, must say ur wright).

I dont use tl, rarely must say and if in smaller tf (they tend to fail to much).

I take daily candles as intraday direction for the coming day and no real moves happen in this hour 11-12GMT pm.
  • #382,462
  • Feb 8, 2011 5:03pm Feb 8, 2011 5:03pm
Quoting PhAnTi'
just came back from work.....
some safe money
Safe money
Thought i had that then i got laid off

Well good night im off to bed either.
  • #382,463
  • Feb 8, 2011 5:06pm Feb 8, 2011 5:06pm
Quoting buonvangvn
ADD SHORT 1.3650
http://www.forexfactory.com/showthre...65#post4381365

out 2 short : +38 pips
  • #382,464
  • Feb 8, 2011 5:07pm Feb 8, 2011 5:07pm
Quoting detailas
Being a newbie, I would be very interested/curious to know how you guys/girls come up with those so called 'key levels' or 'lines in the sand' as some people refer to. Such as 3537, 3508, etc.. which seem to always be important when the price is close to them.. I would appreciate your enlightening me if you would be so kind. Thanks in advance.

Hi detailas,

One thing to remember is that these key levels or lines that traders draw on charts are not exact.

You should look at support/resistance as more of an "area" than an exact level. Sure sometimes those exact predicted levels will get reached but more often than not it is the area surrounding that level and when price gets there is when you want to pay attention to price action and what takes place.

If you are new to trading then try this page out it may help you out with a lot of the questions you may have. Lots of helpful information here.

http://www.informedtrades.com/f111/

Hope this helps.

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #382,465
  • Feb 8, 2011 5:14pm Feb 8, 2011 5:14pm
NY afternoon took me by surprise. I wasn't fully loaded. I lost in terms of opportunity cost(I was a trapped Bull because of the Hanging Man & Weekly Pivot Bearish Engulfing) But maybe that's a good thing. I like to believe we're in a range between 3650-3620 for now (Broken support becomes Resistance visa-versa). My H1&H4 refuses to to close below 620. Until they do I remain with the bulls. we might get a weak holders shakeout trick though. Anyways they won't catch me looking, for I will be long asleep(I'm trading London candles)

No charts from now on
Something funny about people registering on Saturday and getting banned the following Tuesday(posting charts with arrows pointing south north and east all at the same time, and talking 'BANKS' and 'PRO's in their vocabulary)

Take care
  • #382,466
  • Feb 8, 2011 5:22pm Feb 8, 2011 5:22pm
Quoting attila
you are kidding right?
500 pips week? My friend a lot less than that over time would put you on the worlds greatest traders list. Oh... and the Forbes list.
  • #382,467
  • Feb 8, 2011 5:28pm Feb 8, 2011 5:28pm
Quoting attila
now this is what I call right thinking. i would prefer monaco.

edit: i would make it a national sport to bump my yacht into Abranov's.
I'd run his yacht over and buy the rising sun and sink because i loathe ellison.
  • #382,468
  • Feb 8, 2011 5:29pm Feb 8, 2011 5:29pm
Quoting aarontdang
I really hate myself for
never hold on to a trade longer
ahhhhhhhhh .....

oh well..
i'm up 22.5% since sunday
now that's some fine mm.
  • #382,469
  • Feb 8, 2011 5:29pm Feb 8, 2011 5:29pm
thanks knuckledrag and DarkWolF for your replies..

i am ofcourse looking at fibs, s/r, daily/weekly pivots, round numbers, etc. however i find myself scratching my head when experienced traders discussing abt a certain number (that is neither support/resistance, fib, etc in my book), they seem to remember what price did when she hit that certain level and since price has memory, the odds are that she'll do it again.. anyhow, lots of legwork to be done my end!
  • #382,470
  • Feb 8, 2011 5:30pm Feb 8, 2011 5:30pm
Quoting DarkWolF
Hi detailas,

One thing to remember is that these key levels or lines that traders draw on charts are not exact.

You should look at support/resistance as more of an "area" than an exact level. Sure sometimes those exact predicted levels will get reached but more often than not it is the area surrounding that level and when price gets there is when you want to pay attention to price action and what takes place.

If you are new to trading then try this page out it may help you out with a lot of the questions you may have. Lots of helpful information...
don't give lectures, everyone must have different trading style fits his personality. no identical two leaves on earth.
  • #382,471
  • Feb 8, 2011 5:30pm Feb 8, 2011 5:30pm
You are wrong. It is doable. Should I tell you there are people that make 1-2000 pips a day? Not every day but it happens more often than not. Your/and others problem is that you are limiting yourself with this kind of thinking.

Quoting johnnyarnold
500 pips week? My friend a lot less than that over time would put you on the worlds greatest traders list. Oh... and the Forbes list.
  • #382,472
  • Feb 8, 2011 5:33pm Feb 8, 2011 5:33pm
Quoting attila
You are wrong. It is doable.
no my friend it isn't. It's never been done in the history of trading. Let me know when you find someone who's close and has 3 years of documentation. I've got a large check for them.
  • #382,473
  • Feb 8, 2011 5:35pm Feb 8, 2011 5:35pm
Quoting yakuzaking
don't give lectures, everyone must have different trading style fits his personality. no identical two leaves on earth.
In what way do you see this as a lecture ?

Only trying to give some help.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #382,474
  • Feb 8, 2011 5:36pm Feb 8, 2011 5:36pm
Quoting attila
You are wrong. It is doable. Should I tell you there are people that make 1-2000 pips a day? Not every day but it happens more often than not. Your/and others problem is that you are limiting yourself with this kind of thinking.
I know what's possible and what's not. Being realistic about profit is very important in this game.
  • #382,475
  • Feb 8, 2011 5:36pm Feb 8, 2011 5:36pm
Quoting attila
You are wrong. It is doable. Should I tell you there are people that make 1-2000 pips a day? Not every day but it happens more often than not. Your/and others problem is that you are limiting yourself with this kind of thinking.
Pfft. I'll be impressed when I can consistently pull in 100 pips a week.
  • #382,476
  • Feb 8, 2011 5:36pm Feb 8, 2011 5:36pm
you think what you want. I couldn't care less.
Quoting johnnyarnold
no my friend it isn't. It's never been done in the history of trading. Let me know when you find someone who's close and has 3 years of documentation. I've got a large check for them.
  • #382,477
  • Feb 8, 2011 5:37pm Feb 8, 2011 5:37pm
Quoting johnnyarnold
500 pips week? My friend a lot less than that over time would put you on the worlds greatest traders list. Oh... and the Forbes list.
$5k per week on standards, if I am not mistaken doesn't quite meet the criteria for for Forbes or worlds greatest traders...

The over time part, yeah...consistency and accumulation with a little compounding...over time..yeah...

If nothing else, It would probably get you added to Bernie Madoffs Facebook friend request lists...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #382,478
  • Feb 8, 2011 5:38pm Feb 8, 2011 5:38pm
Quoting attila
You are wrong. It is doable. Should I tell you there are people that make 1-2000 pips a day? Not every day but it happens more often than not. Your/and others problem is that you are limiting yourself with this kind of thinking.
Do the math on 10/pips/daily over 5 years. Let me know what you come up with.
  • #382,479
  • Feb 8, 2011 5:39pm Feb 8, 2011 5:39pm
Quoting DarkWolF
In what way do you see this as a lecture ?

Only trying to give some help.
Take easy man, my words have no mean to offense you. Keep going.
  • #382,480
  • Feb 8, 2011 5:39pm Feb 8, 2011 5:39pm
Quoting KillerWhale
yes that's right 7 Eastern is the close which is 12 GMT

Shamu
5pm EST is 12am GMT
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