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  • #15,501
  • May 7, 2011 12:11am May 7, 2011 12:11am
Quoting Activer
Hi folks,

I got a question about EU, please have look at the following chart.

The big picture (Daily) shows that EU is in a uptrend.

Is this a good time to go long?
It seems that the price action is not very clear.

Attachment
When you see big candles, time to be in the market is over. This is the time for short term traders. We are the long term traders already out of the market.
  • #15,502
  • May 7, 2011 11:44am May 7, 2011 11:44am
Quoting Activer
Hi folks,

I got a question about EU, please have look at the following chart.

The big picture (Daily) shows that EU is in a uptrend.

Is this a good time to go long?
It seems that the price action is not very clear.

Attachment
The big picture (Daily) shows that EU is in a uptrend.

But the chart you posted is H4?
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,503
  • May 7, 2011 11:46am May 7, 2011 11:46am
Quoting kratun
Another pair which may worth a look in the near future.
The time is now - back down to 112 and maybe 106
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,504
  • May 7, 2011 12:01pm May 7, 2011 12:01pm
Quoting strat
The time is now - back down to 112 and maybe 106
Why not,mr.Strat although I'm not convinced yet.I'll wait to see how the price will react about this level.If its broken then we'll pray the lord to give us 112 level.Cheers
  • #15,505
  • May 8, 2011 6:37am May 8, 2011 6:37am
Quoting strat
The big picture (Daily) shows that EU is in a uptrend.

But the chart you posted is H4?
sorry, I made two pic , also made a mistake that forgot to upload the other one.

next time, I will preview the post before post it.
Try to understand English Try to understand Forex
  • #15,506
  • May 8, 2011 11:28am May 8, 2011 11:28am
After a few months on here I feel like I'm a different type of trader.

From one of the members on www.stratsforextrading.com
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,507
  • May 8, 2011 12:38pm May 8, 2011 12:38pm
Activer said:

I have a dream --- Trading for a Living

If you say that you are also saying that you are not doing it and it is only a dream. You are putting distance between yourself and your goal.

Affirmations have to be in the present like: "I am trading for a living today",

" I make profits consistently " etc

Just a thought

Cheers
Spinner 'Tis in the Waiting.....
  • #15,508
  • May 8, 2011 8:10pm May 8, 2011 8:10pm
Quoting Spinner
Activer said:

I have a dream --- Trading for a Living

If you say that you are also saying that you are not doing it and it is only a dream. You are putting distance between yourself and your goal.

Affirmations have to be in the present like: "I am trading for a living today",

" I make profits consistently " etc

Just a thought

Cheers
First, thanks for you reply.

Sorry, I don't completely understand what you mean(not good at English).

But I guess, I should do my best to achieve my dream.
Try to understand English Try to understand Forex
  • #15,509
  • May 8, 2011 9:39pm May 8, 2011 9:39pm
Quoting Grimweasel
I've read many, probably too many books on trading and the single theme that comes across from the best traders is that you should really always trade with the trend. Now, of course one may argue that there are many trends on a chart but what Strat is teaching here is that you should trade the trend on the weekly charts and use the daily for your entry. So trade the major underlying weekly trend. Look for pull-backs on the daily against that trend to get in again -with trend- on sound PASR.

I have a broker mate in the city and he said his best...
Great post Danny!

I have taken a few months off from trading completely, mainly just because my day job has been very demanding lately and i have been getting back into a few other hobbies that i have neglected for the past few years i have been studying trading. But if i could add one thing to Grims post its that just taking a step back and relaxing a bit has helped me a lot. I used to think about being a RICH professional trader waaayyy too much to the point that if i was not meeting the goals i wanted when i wanted then i was stressing out about it. Which in turn made me make bad trading decisions. CT trades!!

So if your feeling a little pressure or stress sometimes to meet the trading goals you have set for yourself just take a little break and relax! remember that the market is not going anywhere and when you finally get this all down there will still be plenty of money to be made STRESS FREE!!!
  • #15,510
  • May 9, 2011 5:25am May 9, 2011 5:25am
Quoting CrudeCraig
Great post Danny!

I have taken a few months off from trading completely, mainly just because my day job has been very demanding lately and i have been getting back into a few other hobbies that i have neglected for the past few years i have been studying trading. But if i could add one thing to Grims post its that just taking a step back and relaxing a bit has helped me a lot. I used to think...
That is ONE, BIG, VERY VALUABLE lesson you have just learned, Craig - always take time to STEP BACK and smell the roses!
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,511
  • May 9, 2011 2:23pm May 9, 2011 2:23pm
Quoting Spinner
Activer said:

I have a dream --- Trading for a Living

If you say that you are also saying that you are not doing it and it is only a dream. You are putting distance between yourself and your goal.

Affirmations have to be in the present like: "I am trading for a living today",

" I make profits consistently " etc

Just a thought

Cheers
Great stuff Spinner - this is a great example of self orientated action talk that beats the negative and wishy washy thoughts from 'Hyde' the internal voice that really does all the damage. Keeping 'Hyde' in check should be every traders' main effort - as he/she is the one that does the real damage to your trading account.

On that note, I have attached a must read .pdf on the subject that may have been posted here before - I think EliteJets sent me this a few years ago - happy reading!
Attached File(s)
File Type: pdf 7095175[1] Self Disp.pdf   621 KB | 70,378 downloads
Trade less and become more profitable!
  • #15,512
  • May 9, 2011 2:33pm May 9, 2011 2:33pm
Quoting CrudeCraig
Great post Danny!

I have taken a few months off from trading completely, mainly just because my day job has been very demanding lately and i have been getting back into a few other hobbies that i have neglected for the past few years i have been studying trading. But if i could add one thing to Grims post its that just taking a step back and relaxing a bit has helped me a lot. I used to think...
Yeah great stuff Craig - a break from trading and stepping back should always be advocated when the losses begin to mount or your equity curve heads south. Capital preservation is key (Buffet's no1 rule).

CT trades are just not worth it really. You are right about people trading CT are generally trying to 'beat' the market and force trades and profits. I have been there and lost my shirt. This year I'm keeping my shirt by eliminating CT trades and just sticking to a few basic rules and set-ups. After a few months you begin to think better of yourself for trading your plan and beating Hyde than you do missing a few pips of CT profits!
Trade less and become more profitable!
  • #15,513
  • May 9, 2011 3:38pm May 9, 2011 3:38pm
Whichever version you like best, If I had a Hammer is ringing loud and clear on GBPUSD - feel free to join in
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,514
  • May 9, 2011 11:09pm May 9, 2011 11:09pm
Quoting Grimweasel
Great stuff Spinner - this is a great example of self orientated action talk that beats the negative and wishy washy thoughts from 'Hyde' the internal voice that really does all the damage. Keeping 'Hyde' in check should be every traders' main effort - as he/she is the one that does the real damage to your trading account.

On that note, I have attached a must read .pdf on the subject that may have been posted here before - I think EliteJets sent me this a few years ago - happy reading!
After I have a look on this book, I try to find the Chinese version of the book.

thanks for the book.
Try to understand English Try to understand Forex
  • #15,515
  • May 10, 2011 12:34am May 10, 2011 12:34am
Dont feel too bad after a loss...we cant do as badly as this guy.... i mean in millions !!..

http://www.businessinsider.com/chris...capital-2011-5

baz
  • #15,516
  • May 10, 2011 1:46pm May 10, 2011 1:46pm
Quoting baz
Dont feel too bad after a loss...we cant do as badly as this guy.... i mean in millions !!..

http://www.businessinsider.com/chris...capital-2011-5

baz
Do you think he used 2%?
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,517
  • May 10, 2011 2:18pm May 10, 2011 2:18pm
Strat, i'm trading off the daily, with an eye on the weekly.
I notice your numerous prompts to the website.
I can't find any information as to the cost?
Normally. commercial websites have this information.
You can pm if you prefer. I'm fully conversant with signals ( Nison), with supply and demand, with risk management.
I might be tempted if you don't charge the obligatory $ 97. LOL
No idea why you thought that hammer was attractive on cable. Slightly worrying, but with a decent buffer the trade woulcn't trigger.
  • #15,518
  • May 10, 2011 3:37pm May 10, 2011 3:37pm
Quoting strat
Do you think he used 2%?
to tell you the truth..my mind cant FATHOM the amount of CAPITAL they have to trade with...and thats just this guy...
So much speculative money in the Markets....my head just spins !!!
I wonder if the have any pressure or stress ...or its just a Numbers game..
aahh well... i have a long way to go before i can trade this amount ( perhaps after 10 lifetimes !! )

take care

baz
  • #15,519
  • May 10, 2011 3:43pm May 10, 2011 3:43pm
Quoting strat
Whichever version you like best, If I had a Hammer is ringing loud and clear on GBPUSD - feel free to join in
well..monthly( APRIL ) has posted a Bullish Bar... although the weekly gave a BEEB..BUT stopped at a Previous Ressistance..

USD Spot.png
Attached Image (click to enlarge)
Click to Enlarge Name: USD Spot.png Size: 8 KB
  • #15,520
  • May 10, 2011 3:49pm May 10, 2011 3:49pm
Quoting baz
well..monthly( APRIL ) has posted a Bullish Bar... although the weekly gave a BEEB..BUT stopped at a Previous Ressistance..

USD Spot.png
Now the Daily has just posted a Hammer of the Ressitance Level,and it seems the Market was bought again Today...BUT i also see a RESSIATANCE level just above as well ( PINK LINE )...
So a little tricky SetUp...and with KING giving his testimony tommorow...so will be an intresting Day for Sure..

bazUSD Spot.png
Attached Image (click to enlarge)
Click to Enlarge Name: USD Spot.png Size: 10 KB
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