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  • #961
  • May 8, 2011 4:23pm May 8, 2011 4:23pm
ForexCompound and FarXyun

Thanks for your entries on the thread can I just add to the discussion

I always follow ur tips and signals on my own risk, and they were always Good before the past 4 5 signals all are in LOSS.

This business is a game of probabilities. We use technical analysis to guide our decisions to trade. This TA is an inperfect science and an art all rolled into one. As such it is possible to have 2, 3 4 10 or even 20(!!!) losing trades in a row. What we have to concern ourselves with is keeping the risk down so that our account doesnt blow up. Without funds to trade in our account we become spectators - even when the best trades come along

No special reason bro. I'm working on getting 100% wins. Many say that losses are a part of this business but I'm a different breed, I want 100% wins and I'll get it. Sorry about the losing trades. Meshach.

100% winning trades is the ultimate result. However it is unnessary to be 100% accurate in this business to make a good living. Also I think 100% trade success requires you to have a time machine, cryatal ball (one that works!) or any other means of knowing the future. In theory, a non-losing trade can be put on by selling the yen or any other currency with a very very large account and no stop. The market will oscillate between + and - on many occassions. The markets are fuelled by people like you and me in their thousands and we can behave in a non tech fashion attimes. Hence the losses.

We need to get back to trading...

Olu
If you think you can or cannot do it you are correct
  • #962
  • May 8, 2011 4:28pm May 8, 2011 4:28pm
I think we will see some recovery in the euro for a few days and then a bigger amd steeper weekness.

The fall in the euro was brought about by a rumour that Greece was leaving the euro currency and going back to the Drachma. This has been rubbished and so theoretically there will be a retracement in the euro and commodities. But this issue will now be added to the mix and as it is out there and remains a possibility.
If you think you can or cannot do it you are correct
  • #963
  • Edited 5:08pm May 8, 2011 4:53pm | Edited 5:08pm
this pair put up an inside bar (harami) on friday. It was a long legged doji as well

The trend is down on this pair
price is ubder the 100ema
stoch has turned down from above
resistance fron the 9715 to 9722 area

This pair is a short. I would love to sell from higher aroung the sma line. However we need to factor in a resurgence in the dollar...
Attached Image
If you think you can or cannot do it you are correct
  • #964
  • May 8, 2011 6:37pm May 8, 2011 6:37pm
Quoting Olu
this pair put up an inside bar (harami) on friday. It was a long legged doji as well

The trend is down on this pair
price is ubder the 100ema
stoch has turned down from above
resistance fron the 9715 to 9722 area

This pair is a short. I would love to sell from higher aroung the sma line. However we need to factor in a resurgence in the dollar...
I already sold @ market open. I'm +25 on that trade already. I see price reaching 0.92xx before we can expect any true up move.

As regards the EURO, I checked some stuff online, I'll attach a copy of the pdf showing futures for April. I suggest that traders take out time to study its content as they would benefit from the information contained there.
Happy trading all.
Meshach.
Attached File(s)
File Type: pdf futures_april_2011.pdf   506 KB | 315 downloads
  • #965
  • May 9, 2011 8:13am May 9, 2011 8:13am
Quoting forexcompoun
I already sold @ market open. I'm +25 on that trade already. I see price reaching 0.92xx before we can expect any true up move.

As regards the EURO, I checked some stuff online, I'll attach a copy of the pdf showing futures for April. I suggest that traders take out time to study its content as they would benefit from the information contained there.
Happy trading all.
Meshach.
A safer play on the usd/cad might be waiting for the dollar to play out as seen on other $ pairs right now. Then trading on a break level of $ weakness. This is just around the corner.
  • #966
  • May 10, 2011 6:42am May 10, 2011 6:42am
Good trades come to those who wait... (especially trend trader)

Olu
If you think you can or cannot do it you are correct
  • #967
  • May 10, 2011 6:56am May 10, 2011 6:56am
It appears the markets have turned dollar bearish again. Dollar index has retreated fro the new found high values. It is just reversion to the true trend which generally always happens.

So it is back to dollar bashing... However is this the calm before the storm for the euro though?

Olu
If you think you can or cannot do it you are correct
  • #968
  • May 10, 2011 7:49pm May 10, 2011 7:49pm
Good evening 9/5'rs.

The question I most receive is "what time frame should I look at."

That is a very good question and one I answer quite simply...monthly chart for the major trend and then weekly chart to narrow your focus and to place your trades/idea's off of.

Think of trends as a huge tanker ship...it takes alot of effort to turn the ship from left to right...not to mention from north to south.

It will give you clues and the clues will jump out at you in the bigger time frames. It allows you to plan ahead and to time entries with much more confidence.

If you can just tweek your brain to start thinking the bigger picture, you will trade with more confidence and less stress and your account will grow slowly/ steadily to your objective which is to trade for a living.


humble golfer
  • #969
  • May 11, 2011 3:03am May 11, 2011 3:03am
Quoting golferfx
Good evening 9/5'rs.

The question I most receive is "what time frame should I look at."

That is a very good question and one I answer quite simply...monthly chart for the major trend and then weekly chart to narrow your focus and to place your trades/idea's off of.

Think of trends as a huge tanker ship...it takes alot of effort to turn the ship from left to right...not to mention from north to south.

It will give you clues and the clues will jump out at you in the bigger time frames. It allows you to plan ahead and to time entries with...
Hi Golfer..yes i belive in Power of HTF ...
But lets say ,at present looking at Cable..Last Month we posted a Bullish BAR..and we may have Broken Up after the Cosolidation... and in a Bullish Mode since July 2010..
Yet last week we had a Bearish Engulfing Bar..
So ,Do you stay on the SIDELines..?? untill the weekly lines Up with the Monthly ??
And to put the Spanner in the Works ..the DAILY posted a Hammer off the MONTHLY Ressistance...BUT lines up with the Monthly TF..
take care and thanks


baz
  • #970
  • May 11, 2011 6:47am May 11, 2011 6:47am
Quoting baz
Hi Golfer..yes i belive in Power of HTF ...
But lets say ,at present looking at Cable..Last Month we posted a Bullish BAR..and we may have Broken Up after the Cosolidation... and in a Bullish Mode since July 2010..
Yet last week we had a Bearish Engulfing Bar..
So ,Do you stay on the SIDELines..?? untill the weekly lines Up with the Monthly ??
And to put the Spanner in the Works ..the DAILY posted a Hammer off the MONTHLY Ressistance...BUT lines up with the Monthly TF..
take care and thanks


baz
I dont think I have read from you on this thread. Welcome.

Higher timeframe (hence trend trading) is what I am about as well so I will try and answer golfer's question for you. If I am wrong he will correct me and then answer your question correctly

Golfer said you check the monthly tf for the big picture, then step down to the weekly tf for the big but not so big picture. Then you can take you trades off that or step down to the daily (but no less than the daily).

If you have a bullish engulfing candle on the daily but the weekly is saying different you don't do anything. It possibly means a better entry for you sometime later. You only take trades when all lines up. Also trades are taken when certain patterns show up eg 123 or close below support etc.

We are hoping this trade will be a long term cash cow so we can spend a bit more time looking for a better entry. Also there are loads of pairs if this one doesnt line up properly lookk for another

Hope this helps
If you think you can or cannot do it you are correct
  • #971
  • May 11, 2011 6:53am May 11, 2011 6:53am
Quoting Olu
I dont think I have read from you on this thread. Welcome.

Higher timeframe (hence trend trading) is what I am about as well so I will try and answer golfer's question for you. If I am wrong he will correct me and then answer your question correctly

Golfer said you check the monthly tf for the big picture, then step down to the weekly tf for the big but not so big picture. Then you can take you trades off that or step down to the daily (but no less than the daily).

If you have a bullish engulfing candle on the daily but the weekly is saying...
Hi Olu..
yes i have posted before...
thanks for your input...
But how do you use the 123... and which timeframe..
i iunderstand the concept about 123..BUT have not seen many traders use it on a WEEKLY/MONTHLY TIME FRAME..

baz
  • #972
  • May 11, 2011 7:11am May 11, 2011 7:11am
Quoting baz
Hi Olu..
yes i have posted before...
thanks for your input...
But how do you use the 123... and which timeframe..
i iunderstand the concept about 123..BUT have not seen many traders use it on a WEEKLY/MONTHLY TIME FRAME..

baz
I use the 123 on the daily as long as the direction of the breakdown is in line with the weekly and the monthly trend

Hope this helps

Olu
If you think you can or cannot do it you are correct
  • #973
  • May 11, 2011 7:30am May 11, 2011 7:30am
Quoting Olu
I use the 123 on the daily as long as the direction of the breakdown is in line with the weekly and the monthly trend

Hope this helps

Olu
thanks Olu..perhaphs you can show an example...

baz
  • #974
  • May 11, 2011 9:00am May 11, 2011 9:00am
Quoting baz
thanks Olu..perhaphs you can show an example...

baz
Will find an example, if I dont find one then I will show an example of my next trade...
OLu
If you think you can or cannot do it you are correct
  • #975
  • May 11, 2011 9:09am May 11, 2011 9:09am
It appears the commodities are starting on their downtrend again. We have had a sharp drop, then this retracement, today something has spooked the markets it is going down again...

Dollar is strengthening again which generally is bad for commodities
Attached Image (click to enlarge)
Click to Enlarge Name: dollarIndex-daily-11052011-1508uk.JPG Size: 47 KB
If you think you can or cannot do it you are correct
  • #976
  • May 11, 2011 9:15am May 11, 2011 9:15am
As discussed above Is the rout starting again?
Attached Image
If you think you can or cannot do it you are correct
  • #977
  • May 11, 2011 1:57pm May 11, 2011 1:57pm
Quoting Olu
Will find an example, if I dont find one then I will show an example of my next trade...
OLu
No problems.....
Olu ..i highly recommend HUSSINS CANDLESTICK thread..as he also trades The Higer TF..
Also there are excellent contributors on there as well..
Bones ( Tony )... jhon... Peaches ( PETER )

Hussin is one of the BEST TEACHERs regards CandleSticks...although he is in IRAN and as such restricted..

thanks

baz

http://www.forexfactory.com/showpost...ostcount=11249
  • #978
  • May 11, 2011 11:17pm May 11, 2011 11:17pm
Hi all,
here's a nice opportunity to go long on the aussie
Buy @ 1.0580 SL 1.0442 TP1 1.1011 TP2 1.1073
See chart attached.
Happy trading!
Meshach.
Attached Image (click to enlarge)
Click to Enlarge Name: opportunity_comes_knocking.gif Size: 15 KB
  • #979
  • May 12, 2011 9:06am May 12, 2011 9:06am
I think today is about consolidation and so not good for trend traders. Still checking out the breakdown of the eurnzd

Olu
If you think you can or cannot do it you are correct
  • #980
  • May 13, 2011 11:25am May 13, 2011 11:25am
On the 4hrly. About to be confirmed. Already short from above...

If the neckline goes then a lot mor traders may jump in pushing the price lower still...
Olu
Attached Images
If you think you can or cannot do it you are correct
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