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Trading Major Lines

  • #161
  • Feb 23, 2011 3:22am Feb 23, 2011 3:22am
giving an example what I'm looking for when I'm counter trading...
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  • #162
  • Feb 23, 2011 3:24am Feb 23, 2011 3:24am
Quoting nomask
giving an example what I'm looking for when I'm counter trading...
Great example - thanks for digging it out. If only i'd had these lessons drilled into me years ago.
  • #163
  • Feb 23, 2011 3:35am Feb 23, 2011 3:35am
Quoting sidefx
Great example - thanks for digging it out. If only i'd had these lessons drilled into me years ago.
thanks sidefx..
So as you guys can see on the attached chart..We paid 1.7 pips to find out that it was a fake 4hr price action (it was a 4hr pinbar according to my chart)
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  • #164
  • Feb 23, 2011 5:43am Feb 23, 2011 5:43am
Quoting nomask
That should be a common saying.
I remember... pipEasy's thread. You post there, too.
  • #165
  • Feb 23, 2011 5:50am Feb 23, 2011 5:50am
Quoting tjfxtrader
I remember... pipEasy's thread. You post there, too.
yes I follow that thread too.
  • #166
  • Feb 23, 2011 6:27am Feb 23, 2011 6:27am
http://i55.tinypic.com/biq7tk.gif

Time to short AUD/USD?
  • #167
  • Feb 23, 2011 6:40am Feb 23, 2011 6:40am
Quoting tjfxtrader
http://i55.tinypic.com/biq7tk.gif

Time to short AUD/USD?
may i know what indicator are you using that draws the zone?

-guandi
  • #168
  • Feb 23, 2011 7:07am Feb 23, 2011 7:07am
Quoting guandi
may i know what indicator are you using that draws the zone?

-guandi
Hello guandi..
I do not use any indicator on my chart..
Everything You see on my chart is drawn/put manually except candlestick timer.
I try not to give out live calls as its not what I intent to do but can help you with your analysis..
Although that pair is not the one that I'm currently watching but I can see its ranging within the weekly pennant..No clear weekly signal yet as far as I can see
  • #169
  • Feb 23, 2011 7:15am Feb 23, 2011 7:15am
hello nomask, i have done the same with usd/jpy (drawing lines using whole numbers) suprising what u can see around whole numbers. good stuff

sam
  • #170
  • Feb 23, 2011 7:17am Feb 23, 2011 7:17am
So far I showed you guys both winning and losing trades
now its the time for a missing trade...
That happens from time to time its because I'm dealing with 5 min entries.
part of the game.
I considered that 4hr candle tradeable because It was in the same direction of my hindsight..
I would never base a counter trade on such candle..
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  • #171
  • Feb 23, 2011 7:18am Feb 23, 2011 7:18am
Nomask, I have 2 trades on EU both at different BE, can I move the first one to lock in some profit or leave till target reached?

Please answer as I have been trying to get your attention with a few newbie questions.

Thanks again
  • #172
  • Feb 23, 2011 7:19am Feb 23, 2011 7:19am
So today I've had one losing trade with 1.7 pip and one missing trade...
yesterday's long position is still on being around 180 pips or so
  • #173
  • Feb 23, 2011 7:27am Feb 23, 2011 7:27am
Quoting sami29uk
hello nomask, i have done the same with usd/jpy (drawing lines using whole numbers) suprising what u can see around whole numbers. good stuff

sam
hope this answers your question.
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  • #174
  • Feb 23, 2011 7:29am Feb 23, 2011 7:29am
This is the chart of EU with 2 trades at BE, moved first to lock in profit. Is that how I do it or?
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  • #175
  • Feb 23, 2011 8:46am Feb 23, 2011 8:46am
Quoting sheraad
This is the chart of EU with 2 trades at BE, moved first to lock in profit. Is that how I do it or?
Sheraad, both trades should be at BE
  • #176
  • Feb 23, 2011 8:52am Feb 23, 2011 8:52am
Red-dragon, thanks for the reply.

Moved stops back to BE.
  • #177
  • Feb 23, 2011 9:57am Feb 23, 2011 9:57am
Quoting sheraad
Red-dragon, thanks for the reply.

Moved stops back to BE.
Well done.
  • #178
  • Edited 6:53pm Feb 23, 2011 5:42pm | Edited 6:53pm
Quoting nomask
Thanks Wang..Its been always nice to see you around..
I totally agree with all you said above..
The key is that less relevant the tool you use is the more powerful...
Major Lines not relevant at all but moving averages,indicators are..
Some set 10 ema while other setting 200sma..They wait price to close above/below them so they get signals in different times and start trading irrelevant.
As everybody in this business I too used loads of indicators..Finally I came back to naked charts as well..
But I think the reason behind this is also about...


thanks nomask for your kind reply. the reason i think why indis are not necessary to be successful in this business is because they are a mere derivation from the chart. market is 2 dimensional, no need to make a third one out of it. (could go on about philosophies here ^.^, but shall save my first strike for later)

i have learned much from you and will continue to do so.

again, thanks for your time and effort

you are too humble to think of your thread as not as informative and eye opening as the other three. it seems to me that you are doing an awesome job utilizing the best core concepts of each and made it your own. combine that with your vast experience. to me, this thread is also a must read/follow thread for anyone serious in this business, perhaps only after understanding the concepts from the other three.
  • #179
  • Feb 23, 2011 11:08pm Feb 23, 2011 11:08pm
giving this to this thread would be nice i think,

thanks for your hard work nomask, every entry, every hintsight is priceless to me. im sorry if i post less but i follow your post and entry making technique
regards,
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SonY, Gold Is Every Where Gold, but Human Not Gold..
  • #180
  • Feb 23, 2011 11:23pm Feb 23, 2011 11:23pm
Quoting wangyue22
thanks nomask for your kind reply. the reason i think why indis are not necessary to be successful in this business is because they are a mere derivation from the chart. market is 2 dimensional, no need to make a third one out of it. (could go on about philosophies here ^.^, but shall save my first strike for later)

i have learned much from you and will continue to do so.

again, thanks for your time and effort

you are too humble to think of your thread as not as informative and eye opening as the other three. it seems to me that you are...
Good morning everyone and thanks wang for your compliments..

Here is my start of the day..
Instead of listing all the rules and entry exit ideas I believe that learning/studying through charts always better.
Market is an artist that paints on our charts and we as traders look at its painting and try to read the story behind it.
It does not matter whether you are correct with your interpretation (reading story) every time or not..
Eventually one of your hindsights will work out and make you huge profit..
my only long position has 50% chance of either dying at break even or making me couple thousand pips..
simple but powerful
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