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Pitchfork Goldmine!

  • #1,721
  • Edited 9:34am Jun 9, 2011 7:25am | Edited 9:34am
Quoting Twisted
Hello FX4!

Where did you set your initial stop?
I gusess you have NOT CANCELLED the stop (???)

Regards,
Twisted.
I don't use stops. I may use one in a position trade to lock in profits or an emergency stop...just in case the market goes crazy for some reason. But regular stop losses...I don't use them. Many traders don't: Andrews was one of them.

If I did place a "traditional stop loss", it would have been under the Doji (under the low)...around 1.4560.

There are other MM approaches that I prefer. Using stops to control losses is a defensive strategy.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,722
  • Jun 9, 2011 7:58am Jun 9, 2011 7:58am
Lots of news this morning. Hope I can see a set-up and entry in time to send a signal. On the hunt .

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,723
  • Jun 9, 2011 12:40pm Jun 9, 2011 12:40pm
Quoting FX4Newbies
I don't use stops. I may use one in a position trade to lock in profits or an emergency stop...just in case the market goes crazy for some reason. But regular stop losses...I don't use them. Many traders don't: Andrews was one of them.

If I did place a "traditional stop loss", it would have been under the Doji (under the low)...around 1.4560.

There are other MM approaches that I prefer. Using stops to control losses is a defensive strategy.

FX4
Hello again,

Thank you for your answer.
I've started to read your whole thread. Little easier than book of dr.Dologa and a lot of knowlege for me.

There was written that so small number of traders use Pichforks. I see the same in Poland. There's no any active thread abot Pitchforks on polish forums. I think that Pitchforks are powerfull and demand a lot of knowlege and experience, but many people want to trade with some magic indicator which tells them when to buy or sell.

Best regards,
Twisted

P.S.

FX4: Don't you sleep at all? I'm not sure but I have seen your posts from the time when Asian sessions end.
Am I right?
  • #1,724
  • Edited 7:14pm Jun 9, 2011 2:29pm | Edited 7:14pm
Quoting Twisted
Hello again,

Thank you for your answer.
I've started to read your whole thread. Little easier than book of dr.Dologa and a lot of knowlege for me.

There was written that so small number of traders use Pichforks. I see the same in Poland. There's no any active thread abot Pitchforks on polish forums. I think that Pitchforks are powerfull and demand a lot of knowlege and experience, but many people want to trade with some magic indicator which tells them when to buy or sell.

Best regards,
Twisted

P.S.

FX4: Don't you sleep at all? I'm...
Hi Twisted,

You are welcome.

Glad the thread is helping. Also, I believe you should be able to translate my blog into Polish. Let me know how that works.

Sleep? Yes I do get some.... Always juggling my schedule to get more of it. I used to post mainly prior to the U.S. Session, but now I post as I am trading. Don't usually trade the Asian Session, but sometimes I am at the computer and see something that might give a few more pips.

Take care,

FX4

P.S. Learning to trade with forks is not that complicated, if you understand PA and Market Structure and really think through what price is telling you.
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,725
  • Edited 7:41pm Jun 11, 2011 7:20pm | Edited 7:41pm
Hello traders,

Hope your weekend is going well. Just letting you know that the weekly wrap-up of the 10 pairs I follow on the blog are now posted.

Enjoy.

FX4

Oops...almost forgot to mention the metals...that makes 12.
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,726
  • Edited Jun 12, 2011 12:05am Jun 11, 2011 11:26pm | Edited Jun 12, 2011 12:05am
Inserted Video
  • #1,727
  • Jun 11, 2011 11:38pm Jun 11, 2011 11:38pm
Listening now...thanks much!!!

"...to run where the brave dare not go.." Hmm.

So timely...if you only knew .

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,728
  • Jun 12, 2011 12:08am Jun 12, 2011 12:08am
Donna you need to PM me - I do not know how. I delete all emails over 1 week.

Inserted Video
  • #1,729
  • Jun 12, 2011 12:22am Jun 12, 2011 12:22am
Quoting Wave Trader
Donna you need to PM me - I do not know how. I delete all emails over 1 week.

http://www.youtube.com/watch?v=wnmbJ...eature=related
Just tried to PM you...it says that you have chosen not to receive private messages. To send a PM just log in to your control panel or click your Username at the top of the page next to the time and login area. Once there, look on the left toward the bottom and you will see a link to send a new message. The recipient must be in your buddy list to be able to send a reply.

Will email you,

FX4

P.S. Email sent.
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,730
  • Edited 1:06am Jun 12, 2011 12:51am | Edited 1:06am
Quoting Wave Trader
Donna you need to PM me - I do not know how. I delete all emails over 1 week.

http://www.youtube.com/watch?v=wnmbJ...eature=related
Just fabulous!!! That's really what life is about. Hadn't heard of her, but just read some things on Wikipedia etc.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,731
  • Jun 12, 2011 1:22am Jun 12, 2011 1:22am
is she a trader too ?
  • #1,732
  • Jun 12, 2011 1:33am Jun 12, 2011 1:33am
Quoting pikeliver
is she a trader too ?
No. She is a singer from Scotland who was an overnight success and someone the judges thought would be a waste of time. Check out the video. Just amazing!!!

On second thought Pike, she traded her "old life" for her "dream life"...so I'd say, "Yes, she is a trader."

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,733
  • Jun 12, 2011 1:41am Jun 12, 2011 1:41am
well said FX4,
nice post Wave Trader
  • #1,734
  • Edited 2:02am Jun 12, 2011 1:43am | Edited 2:02am
Quoting pikeliver
well said FX4,
nice post Wave Trader
Live your dream Pike. It's our turn . Same to you WaveTrader: live your dream.

FX4

P.S. I'm next
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,735
  • Jun 13, 2011 11:18am Jun 13, 2011 11:18am
Quoting FX4Newbies
Also, I believe you should be able to translate my blog into Polish. Let me know how that works.
Hi FX4,

In fact I can see the translation of your blog into Polish, but I will not use this tool because I am able to understand it in English. Maybe I can check for some words which are new to me.

This is translating word by word. Polish language has complex grammar. Words of each part of speech (?) laguage (?) have many forms.
So these sentences sound little strange to me (something like my English for you ) , that why I prefer to read it in English.

OK so I will read everything to the end and have some question about FORKS.

Now I can see EURUSD is climbing up the warning line based on your green PF. The bright green bold line from my only chart (action line?) does not allow the price to go higher. I think will see at 1,439 - 1,440. (Don`t trade what you think - I know).

Pozdrowienia z Polski - Greetings from Poland,

Twisted
  • #1,736
  • Edited 12:10pm Jun 13, 2011 11:58am | Edited 12:10pm
Quoting Twisted
Hi FX4,

In fact I can see the translation of your blog into Polish, but I will not use this tool because I am able to understand it in English. Maybe I can check for some words which are new to me.

This is translating word by word. Polish language has complex grammar. Words of each part of speech (?) laguage (?) have many forms.
So these sentences sound little strange to me (something like my English for you ) , that why I prefer to read it in English.

OK so I will read everything to the end and have some question about FORKS.

Now I can...
Hey Twisted,

Just looked at the chart..Eur-Usd turned around 1.4403. Forks are great for giving an idea of what to look for where and when, but that is only the beginning of successfully making and keeping the $$$.

Will be happy to answer fork questions...as much as I can in the context of the forum.

Thanks for the feedback on the translation.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,737
  • Jun 13, 2011 3:14pm Jun 13, 2011 3:14pm
Just joined the site so I can post on this thread - I'm slowly reading my way through it but its good to be seeing people using pitchforks - I'm new to them and they're new to me so there's lots to learn and I appreciate the information you guys are sharing. I've played around with all sorts of indicators and ideas but I think pitchforks give me a really clear way to see the market. I also think that for quite some time I got caught up looking at indicators rather than the market if that makes sense.

B.
  • #1,738
  • Jun 13, 2011 5:09pm Jun 13, 2011 5:09pm
Quoting Bartlby
Just joined the site so I can post on this thread - I'm slowly reading my way through it but its good to be seeing people using pitchforks - I'm new to them and they're new to me so there's lots to learn and I appreciate the information you guys are sharing. I've played around with all sorts of indicators and ideas but I think pitchforks give me a really clear way to see the market. I also think that for quite some time I got caught up looking at indicators rather than the market if that makes sense.

B.
Hi Bartlby,

Glad you joined.

Yes, I understand what you mean...looking at indicators rather than the market. You can find yourself looking at the Pitchfork too ...the trader must keep that balance. But, at least with the fork, it gives you a leading edge and frames price action in a way that indicators don't ...not even Fibs, as much as I like them and think they are a credible add-on.

Feel free to post charts and ask questions.

Happy to see you giving forks a try. Once you understand what they are designed to tell you, I think it will make some aspects of trading much easier...and then....you can use it with whatever else you like, just to give you any additional confirmation.

Take care and welcome,

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,739
  • Jun 14, 2011 2:00am Jun 14, 2011 2:00am
Yes I've found myself looking at the pitchfork and not the price and ended up on the wrong side of a trade - One of the things I like about trading is that it shows me things about how my mind is working - I get attached to things and to ideas - my pitchfork is pointing up therefor.... but price does its own thing and I need to draw an new fork.
  • #1,740
  • Jun 14, 2011 7:04am Jun 14, 2011 7:04am
Quoting Bartlby
Yes I've found myself looking at the pitchfork and not the price and ended up on the wrong side of a trade - One of the things I like about trading is that it shows me things about how my mind is working - I get attached to things and to ideas - my pitchfork is pointing up therefor.... but price does its own thing and I need to draw an new fork.
Hi Bartlby,

Very important...before you draw a fork, look at the PA and market structure to determine the current trend of the TF you are using. Draw the fork to compliment that direction, then the fork will give you what you need to see about price at that moment.

Not sure how far you are in the thread, but I did a video last December (Post 1072; page 72). It should help you with that. If you encounter a problem it may be because we will be transferring the blog to a new server soon. Not sure of the exact date yet. Once started it should be back on track in about 3 days max....all depends on how long the URL takes to be propagated on all servers.

Let me know how the video helped.

All the best,

FX4
Trade what you see, not what you think or feel. Let the market come to you.
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