The System (Irony included)

Euro and Cable they didn't look too good already and today's strange NFP data and especially surprising Unemployment Rate are pointing for much stronger Dollar.
So, in my view the recent Price Action and new fundamentals may change this correction into much dipper retracement ... unhealthy for any of all my long positions,
which I patiently build over the last four weeks (take-profit time) and start all-over again ... well, that's not a first time and surely it's not a final one either.

So for the next couple of weeks you will be busy counting profits

Sold @612 s/l 679 Friday hd.

Moved s/l to 611 and got stopped.

And now there is another V formation. if hd of today will be taken it will time to search for bargain again.

Bought EU at market open price on monday

Proudly doubled my 1000$ demo as of 7 days 7 trades... VSetup couplrd with my on TB Trading Style..

Regards

Always

SmartKenyan..

Hey friend,

When Previous candle is Long avoid the trade..

Just my 2 cent and always worked for me..

Edit: By the way always watch the inter-markets Dow say Bull watch it carefully before making decisions....

Regards

Always

SmartKenyan..

What do you mean?

http://www.zerohedge.com/article/aud...16-points-rich

And discussion about S&P 500 and euro correlation goes on and on.

686 needed.

I meant the length of the previous day's candle..

About the intermarket.. it actually gives you a broader view of the market when playing Long Term...

Regards

Taken. Time to wait for pull back to buy on discount.

sell @1.3494 s/l 1.3555

Got stopped. How do people trade TS-I

Hi Tghtft,

I know you guys like to trade naked - beleive me I have given the 123 a through testing for the past two years and found that it is not good for most market conditions - I have to say that without any indicators at all you cannot possibly judge 3 key things (all of which the professionals are watching and responding to)

Momentum (which on the daily chart you display was showing a divergence from PA to the low side which suggested it was highly probable that price would track down - easily seen with MACD....oooh yes, I named it...how could I?) - you cannot possibly jusdge momentum with the naked eye - without it you will be whipsawed over and over again before finding the elusive runner.

Slow Stochastics showed clearly that the upcycle was also indicating divergence with price - and suggesting a retrace.

The 50 SMA was flat and to the south - and price just loves to retouch the 50 - especially when the chart isn't trending - and your wasn't. That upmove you wanted to trade onto was against the daily trend which was in the opposite direction.

SO now I will wait to be attacked for not understanding 123 - believe me I understand it in DEPTH - but it is oversimplistic, will kill most traders and no professional would dare to allow themselves to become a one-trick-pony. Feb most certainly is not a one trick pony - he has years and years of chart watching that has moulded his brain cells into formations you couldn't even imagine.

No disrespect to anyone - but this was a trade to avoid.

Momentum, Trend, Cycle, Support and Resistance and multiple time frames (fractals - the real meaning of fractals in trading) for confirmation will all keep you much safer, and out of 123, FCR trades which are likely to be fakes. They may be inconvenient to learn how to use, but they would save you much heartache and MONEY.

G'day SirStoploss,
... perhaps because I'm in a very good mood (happy / stress-free trader) ... So, I'm not going to argue with you, nighter call you some ugly names.
If you need MACD, Stochastic and 50-SMA or anything else for that matter ... to see and/or understand the price action that's truly your problem.
Just ask yourself a question, ... what drives those indicators and how they relate to the current price ???
and ... guess what? I'm also, not going to argue with you about usefulness or over-simplicity of this "system"
as it's totally up to you ... what and how you make that beast to work for your trading successfully.
and ... you're very right (only at this one point), when you saying:
... learning to trade is not a quick process, but to gain an ability to do it "naked" is even longer and much harder ... and there isn't any easy ways out of this.
But, trust me that's possible to achieve ... and referring to what the professionals are watching / responding to ... is out of space and not really accurate.
I'm trading for living (quite good living) and I don't have to follow any indicators to make a shit-loads of positive pips - day after day.
I haven't got also, any intention to attack you for your DEPTH of understanding or rather lack of it ... 'cos Feb's 1-2-3 is well beyond some simple strategy
and not everyone can read/view the whole massage, which is between the lines ... and not everyone has enough of patience/determination to reach those levels.
Best Regards,
Darek

Another V formation and time again to search for bargain.

Nice reply - you are very rare for a retail trader. Long may your personal success continue (genuinely).
Of the 50+ guys on our floor none of them is as good as you in that case - we're all weak enough to make use of simple indicators. As a message to those who are not as developed as you, my simple counsel is to understand what the benefits of them are before ditching them.

Respect to you all.



quote=DareXau;4408877]G'day SirStoploss,
... perhaps because I'm in a very good mood (happy / stress-free trader) ... So, I'm not going to argue with you, nighter call you some ugly names.
If you need MACD, Stochastic and 50-SMA or anything else for that matter ... to see and/or understand the price action that's truly your problem.
Just ask yourself a question, ... what drives those indicators and how they relate to the current price ???
and ... guess what? I'm also, not going to argue with you about usefulness or over-simplicity of this "system"
as it's totally up to you ... what and how you make that beast to work for your trading successfully.
and ... you're very right (only at this one point), when you saying:

... learning to trade is not a quick process, but to gain an ability to do it "naked" is even longer and much harder ... and there isn't any easy ways out of this.
But, trust me that's possible to achieve ... and referring to what the professionals are watching / responding to ... is out of space and not really accurate.
I'm trading for living (quite good living) and I don't have to follow any indicators to make a shit-loads of positive pips - day after day.
I haven't got also, any intention to attack you for your DEPTH of understanding or rather lack of it ... 'cos Feb's 1-2-3 is well beyond some simple strategy
and not everyone can read/view the whole massage, which is between the lines ... and not everyone has enough of patience/determination to reach those levels.
Best Regards,
Darek [/quote]

Sir Stoploss,

Do you mean that in order make an easy money on Forex all I have to do is to trade template below?

LOL - that's a lot better - and very easy to read as it happens. The settings on those stochastics aren't quite optimum for my taste, nor the MACD.

My last offering on this - it clearly shows me that where you entered there is clear divergence to the downside in plenty of time to warn you against the trade.

Listen, good luck to you all. That was a fun exchange.