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  • #434,661
  • May 4, 2011 2:34am May 4, 2011 2:34am
Quoting the redlion
you dont need them

they clutter the chart and the mind

do you want to know when prices is exhausting, you dont need a line in the chart

calculate true range/ time= thrust of price movement, its not 100 % accurate but nothing is.

look at important price levels, resistance and support,

observe what market you are trading
ranging
bull
bear

there is only three (ranging can be consolidation or topping) butt you never know until it switches to bullish or bearish

YOU WILL NEVER KNOW FOR SURE. first look at your entry in 2 ways, one youre...

this is very kind of you brother. thanks.
now how do i calculate calculate true range/ time= thrust of price movement?
for now i use 0000 and 50 levels. which other price levels are important in your own opinion? thanks for helping me.
  • #434,662
  • May 4, 2011 2:35am May 4, 2011 2:35am
i closed all long positions to lock in profits i need some sleep,

ill come back by 5 am or so pacific time to see where the market is at

see you all later
AVT INVENIAM VIAM AVT FACIAM
  • #434,663
  • May 4, 2011 2:37am May 4, 2011 2:37am
Quoting Jazznos
Good advice here... But i would say its worth having Pivots on there as EUR seems to respect them at least Daily, and at least briefly...

I find my fibs are as close to a crystal ball as you could get - coudlnt trade without em - but these are Bobokus fibs im talking about

thanks. if you know i can learn how to use it successfully, please share i with me. will be greatful
  • #434,664
  • May 4, 2011 2:38am May 4, 2011 2:38am
Quoting hindustani
kids who predict are the kids who go down the DRAIN first
The trend is the most ignored indicator available .

Look on any website any instrument ,Its an unbelievable but true fact ,if you are lucky enough ,as we currently are to be in a strong trend .

Check out the sentiment of traders and i noticed all the sites will have above average bear sentiment .

I find it astonishing that while we are consolidating and have made no sustained attempt to move lower ,traders still continue to see" big move down","It cant go up anymore."

I'am very serious when i say ,if you could train a monkey to take a trade upon being shown a chart with a trend and only take trade in that direction given triggers.The monkey would beat most humans,
The only reason being it does what its told without thinking.

The only solution is to get drunk or high to at least slow down the one thing thats stopping humans from being successful in this game .
making green pips large and red pips small this is my goal.
  • #434,665
  • May 4, 2011 2:40am May 4, 2011 2:40am
looking for the trend mover up so far trades looking good...
  • #434,666
  • May 4, 2011 2:41am May 4, 2011 2:41am
Quoting darimik
cant monitor the trade anymore, so I locked in what I need.

Attachment
Cheers. Greeny to you too. That's right to lock in, keep move ur stops up.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_EUR_USD_5 Mins_snapshot.png Size: 15 KB
Make it rain baby
  • #434,667
  • May 4, 2011 2:42am May 4, 2011 2:42am
4871 resistance/tl 4880 but who believe this mofu ? closed scalping long at 60 & waitng retrace to long again , scalping short usually not doing but an option for few pips can be negative effects if not care & lust for more .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #434,668
  • May 4, 2011 2:43am May 4, 2011 2:43am
Quoting paul1
The trend is the most ignored indicator available .

Look on any website any instrument ,Its an unbelievable but true fact ,if you are lucky enough ,as we currently are to be in a strong trend .

Check out the sentiment of traders and i noticed all the sites will have above average bear sentiment .

I find it astonishing that while we are consolidating and have made no sustained attempt to move lower ,traders still continue to see" big move down","It cant go up anymore."

I'am very serious when i say ,if you could train a monkey to take...

i dont really get your point sir
  • #434,669
  • May 4, 2011 2:44am May 4, 2011 2:44am
Quoting brighty3k
this is very kind of you brother. thanks.
now how do i calculate calculate true range/ time= thrust of price movement?
for now i use 0000 and 50 levels. which other price levels are important in your own opinion? thanks for helping me.
Yeah, thanx
  • #434,670
  • May 4, 2011 2:45am May 4, 2011 2:45am
Quoting brighty3k
i dont really get your point sir
Point: Trade with the trend (mainly the daily/weekly if not monthly).
Trends, breakouts, price action.
  • #434,671
  • May 4, 2011 2:45am May 4, 2011 2:45am
My 30m chart:

Attached Image (click to enlarge)
Click to Enlarge Name: m30.png Size: 51 KB


Still in the range. But I believe we're on the way to 1.5000.
  • #434,672
  • May 4, 2011 2:45am May 4, 2011 2:45am
well I missed half of this run up.

Didn't chase it... But no fears, The opportunity to short is coming soon.

I'll be waiting!
  • #434,673
  • May 4, 2011 2:48am May 4, 2011 2:48am
Quoting paul1
The trend is the most ignored indicator available .

Look on any website any instrument ,Its an unbelievable but true fact ,if you are lucky enough ,as we currently are to be in a strong trend .

Check out the sentiment of traders and i noticed all the sites will have above average bear sentiment .

I find it astonishing that while we are consolidating and have made no sustained attempt to move lower ,traders still continue to see" big move down","It cant go up anymore."

I'am very serious when i say ,if you could train a monkey to take...
Well said Paul, that's where the smart money is. I guess greed and fear comes into play. Greed when you try to trade as many as you can/ picking every top on uptrend & fear for missing the big move/fakeout. Will takes lots of screen time to gain these experience.
Make it rain baby
  • #434,674
  • May 4, 2011 2:49am May 4, 2011 2:49am
didn't hit my TP for 0,3 pips, lol.

Closed manually and out to do some work.
  • #434,675
  • May 4, 2011 2:50am May 4, 2011 2:50am
Quoting brighty3k
i dont really get your point sir
Just take long trade & buy dips and your profit will increase by 50%. Even the 300 pips fall last week, couldnt stop you from making it all back.
Make it rain baby
  • #434,676
  • May 4, 2011 2:50am May 4, 2011 2:50am
Today Portugals sells up to 1 bio EUR 3months bills. If this is sucessfull Eur may get more wind in the back. Also state received 78 bio EUR support from European Union. Watch for Nouriel Roubini’s speech today at a conference in Portugal around 1400 GMT.
  • #434,677
  • May 4, 2011 2:52am May 4, 2011 2:52am
Why everytime I log in only to find out Euro is @ top of the range making long a difficult decision?
  • #434,678
  • May 4, 2011 2:52am May 4, 2011 2:52am
Quoting brighty3k
thanks. if you know i can learn how to use it successfully, please share i with me. will be greatful
You'll find a lot about pivot points in the web, try starting at www.babypips.com, and the levels can be found here:
http://www.actionforex.com/markets/p...2010040848154/

and as graph: http://www.actionforex.com/markets/p...tmpl=component
Fail better.
  • #434,679
  • May 4, 2011 2:53am May 4, 2011 2:53am
Quoting brighty3k
this is very kind of you brother. thanks.
now how do i calculate calculate true range/ time= thrust of price movement?
for now i use 0000 and 50 levels. which other price levels are important in your own opinion? thanks for helping me.
actually you dont have to calculate anything.

in reality, find the STYLE not SYSTEM that you are comfortable trading with.
i will give you the basics as far as i know others can pitch in
PRACTICE MAKES PERFECT, nothing beats getting in there and wrestling with the market.

to tell you the truth, every style you trade could potentially be profitable if you know it well, know yourself and know the market.

there are only three types of markets
as i said before. Bullish its when its going up, bearish is when its going down
ranging is usually after a bullish or bearish move, no clear direction so it could be topping/consolidating in other words ready to change or to continue.

if you are using candle sticks, you can guesstimate many things just visually but if you are like me then i like numbers to aid my visual.

it is important to know that price NEVER moves in a straight line either down or up. for every action there is an equal and opposite reactions, or if you like then waves, like Elliot theorized.

as long as you know direction you can take advantage of corrective and impulse waves.

first thing you need to know is identify overall trend,
identify current market condition
identify key price levels where price has suffered rejections, a rejection is evident in many ways, sharp sell off usually a bearish candle with a wick, or an initiation of a wave or formation. i like to measure the range high and low/ speed how long it took.
to gauge market sentiment whether the impulse is strong or weak.

when price is moving with momentum you see elongated candles and they get shorter and shorter (range and speed gets smaller and slower) usually indicates that pressure bullish or bearish depending on the movement is exhausting, thats where you see the bearish or bullish patters at the end of such wave. usually signals reversal. USUALLY cause it could continue.

now you see why i rigidity kills, because no indicator, or squigly lines on a chart can PREDICT SH@t, Price moves counter moves gains momentum just to change its mind,

it is up to the trader to adapt, and decide. to either

press the attack (by adding to your position) holding (when corrective waves are moving against you but the market outlook still supports the direction you initially foresaw) scale back ( to reduce exposure if danger of market change is imminent) or liquidate position ( when you believe you need to be out)

when a trade goes wrong you it is up to the trader to decide
to liquidate a dead in the water position (you traded in the wrong direction)
average down the position ( you traded in the right direction but just ill time and this way you can get a better average price) rescue a position (average down and take advantage of a corrective wave to get out of a bad position at break even)

so you see. flexible, nimble, it is a skill, an art not a sience AND NO ONE, NO INDICATOR, NO THING CAN PREDICT PRICE EVER.
AVT INVENIAM VIAM AVT FACIAM
  • #434,680
  • May 4, 2011 2:53am May 4, 2011 2:53am
Quoting brighty3k
thanks. if you know i can learn how to use it successfully, please share i with me. will be greatful
Here is the thread http://www.forexfactory.com/showthread.php?t=222988

Read especially the PDF. That is the basis for my methodology and understanding (aside from learning a whole bunch of other stuff about indicators that i dont use). Support and resistance however is the foundation of all.
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