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  • #502,521
  • Jul 28, 2011 9:47am Jul 28, 2011 9:47am
Quoting gatorinla
4313 chart..
you say the target can be soft S/R, on the retest, what about the slip (4305ish)...will that get respect also?
Look Sharp/Trade Tight
  • #502,522
  • Jul 28, 2011 9:47am Jul 28, 2011 9:47am
Quoting Alexone
I trade on H1. 20 trades a week or so. Sometimes a little more sometimes less.
One idea is to wait for the hourly to become OB/OS, and then look for divergence on a lower timeframe. This just occurred on the 15m:
Attached Image (click to enlarge)
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  • #502,523
  • Jul 28, 2011 9:48am Jul 28, 2011 9:48am
Quoting Alexone
Anybody know how i can get cloggie (or someone who is making money trading) to train me? Im serious...every frickin day from 8am to 12pm i stare at charts and at the end of the day the result is the same. And this has been going on for 2 years. Im getting f***ing sick!
First of all, most of traders that hang around in this thread are demo traders not live traders. And, in fact, most of them are losing just like you. If they were successful live traders, they would pay attention to their trades, news and wouldn't waist time posting all day long...

Second, have you ever reflected about what you are in the forex market. This is a big ocean full of sharks and you, me like any other retail trader are little golden fishes. What we should do is follow the sharks not trying to be the shark. Once you understand this like I did and others did, you accomplished the first big step...

Now, everybody want to be scalpers. Scalping is the most difficult to do in the forex market as you have already realized. So, why not doing something a little bit easier like being a swing or a position trader?
Advantages: better risk reward trades + less trading = more pips

Example: You risk 50 pips to win 150, 250 pips which is better than risk 10 or 15 pips to win 1 pip, 6 pips or 10 pips. And you will end up having more time to do other things :-)

Of course. you got to prepare a PLAN and stick to it. Try looking at daily and weekly charts. Don't do trade decisions based on M5, M15 and even H1...

Just my 2 cents
  • #502,524
  • Jul 28, 2011 9:49am Jul 28, 2011 9:49am
i see 4220 today;]]
looking for investors . pm me
  • #502,525
  • Jul 28, 2011 9:50am Jul 28, 2011 9:50am
Quoting Greener
us house tentatively scheduled to vote on boehner debt bill between2145 - 2215 -congressional aide
it don't matter.. the senate will vote no. just a bs vote so politicians can say they voted one way. a waste of time and money..
those who can, do. those who cant, talk about those who can
  • #502,526
  • Jul 28, 2011 9:51am Jul 28, 2011 9:51am
Quoting gatorinla
it don't matter.. the senate will vote no. just a bs vote so politicians can say they voted one way. a waste of time and money..
One of our governments most efficient attributes.
  • #502,527
  • Jul 28, 2011 9:54am Jul 28, 2011 9:54am
Quoting Venice
One of our governments most efficient attributes.
They are doing the peoples work...bless their little hearts
  • #502,528
  • Jul 28, 2011 9:56am Jul 28, 2011 9:56am
Quoting PayTheLimit
you say the target can be soft S/R, on the retest, what about the slip (4305ish)...will that get respect also?
as a high or low yes.. watch the closes and those old targets.. they line up often
those who can, do. those who cant, talk about those who can
  • #502,529
  • Jul 28, 2011 9:56am Jul 28, 2011 9:56am
Quoting Alexone
I trade on H1. 20 trades a week or so. Sometimes a little more sometimes less. Tried Daily TF. SL is too big, havent figured a way to decrease that and you have to wait too long.
Hey Bud we are all different and learn @ different pace's, One thing that really help me are these 26 Vidio's @ http://consult-fx.com/26-sam-seiden-webinars . They are long an boring but good info. take the gold and throw away the shit. My experiance with FX was really fucked the first few years, I'm just to stupid to quit and refuse to give up, I dont care if it kills me, I will get this or die trying! It get easier as time go's by and you start to see the ebb and flow of the market. the first few years sucked,I would get off the computer and kick the wife and fuck the dog. I don't have to do that these days. Good luck
  • #502,530
  • Jul 28, 2011 9:58am Jul 28, 2011 9:58am
Quoting cloggie
A good place to go here is Redsword's PA thread as a start.
Can you please reefer as a link "Redsword PA", I am new too and I want to learn, but now have no clue what you are talking about
Cheers!
Don't look at me I am lost too
  • #502,531
  • Jul 28, 2011 10:01am Jul 28, 2011 10:01am
Quote
A lot of traders, especially new ones, put a lot of trust in indicators thinking that prices would go and go directly to where the indicators say they should. A lot of traders believe that indicators can forecast the limits of behaviour. Traders believe that indicators can tell them what is reasonable or what is predictable based on the past.

The market as a whole is not reasonable; prices are set by traders, traders are impressionable and imitative, they are herd animals and follow the crowd either up or down, identifying the direction of the...

Noobs, plz read this.
Hero calls followed by margin calls...
  • #502,532
  • Jul 28, 2011 10:02am Jul 28, 2011 10:02am
sold some against 06ish, risk the highs, pay the lows...
Attached Image (click to enlarge)
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Look Sharp/Trade Tight
  • #502,533
  • Jul 28, 2011 10:02am Jul 28, 2011 10:02am
A lot of traders, especially new ones, put a lot of trust in indicators thinking that prices would go and go directly to where the indicators say they should. A lot of traders believe that indicators can forecast the limits of behaviour. Traders believe that indicators can tell them what is reasonable or what is predictable based on the past.

The market as a whole is not reasonable; prices are set by traders, traders are impressionable and imitative, they are herd animals and follow the crowd either up or down, identifying the direction of the crowd is key; follow the dust trail, the noise of the stampede.

Prices and spreads vary they are not an arithmatic concept and fluctuate based on the societies they represent, Euro, USD, JPY etc.

Uncertainty is an indefinite condition, it does not follow indicators, it cannot be calculated.

A good dose of self doubt and perspective needs to check the indicators and what it is telling us before a trade is placed.

Even when traders get things right, prices cannot be expected to oscillate with precision of Elliott Waves or follow fib or trend lines precisely.

Today's prices cannot be inferred by yesterday's trend and data alone; trading should be a "whole" concept where all information is taken in by us the traders and a decision is made based on our interpretation of data.

A good trader is intuitive, using technical data, fundamentals and his "gut", his experience to enter and exit a trade succesfully.

Keep it simple, a few indicators that work for you (knowing their limitations) a TF and pair that you are comfortable with and have studied, one eye on bloomberg/yahoo/cnbc/bbc/ft/wsj, a good understanding of Price Action, risk vs reward, money management, lot sizing, support and resistance, trend lines, and off you go.


My 2 cents

Noobs, plz read this.
posted by Cloggie in 2009.
Hero calls followed by margin calls...
  • #502,534
  • Edited 10:14am Jul 28, 2011 10:02am | Edited 10:14am
top not bad play & now doing for 4268/3 level again even can reach 4320 this time from M5 tf but m15 showing c to up full towards 4330 with or not any breaks before down . lets see .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #502,535
  • Jul 28, 2011 10:03am Jul 28, 2011 10:03am
Quoting gatorinla
as a high or low yes.. watch the closes and those old targets.. they line up often
thanks...
Look Sharp/Trade Tight
  • #502,536
  • Jul 28, 2011 10:04am Jul 28, 2011 10:04am
http://www.forexfactory.com/showthread.php?t=230888


Quoting tomin
Can you please reefer as a link "Redsword PA", I am new too and I want to learn, but now have no clue what you are talking about
Cheers!
  • #502,537
  • Jul 28, 2011 10:04am Jul 28, 2011 10:04am
Quoting cloggie

You just need to keep at it, it takes some 6 monts, others 5 years to get to at least to BE before they turn the corner. One day the lightbulb will go of and you will look back and wonder why it took you so long.
Touchwood that's finally happened for me, and that's 3 years of losses. It's not easy to learn and it took a certain persons brusque manner to make me take stock. BTW Thanks again cloggie
I operate with clear definite rules, if I break them I lose BIG!
  • #502,538
  • Jul 28, 2011 10:05am Jul 28, 2011 10:05am
1.4327 next up then 4379 and from that point 26 pips down in my vision

or..a bolder one to go as high as 1.4428

see ya tmr guys
  • #502,539
  • Jul 28, 2011 10:06am Jul 28, 2011 10:06am
Quoting Venice
One of our governments most efficient attributes.
if like to catch one telling me they are doing it because its what their district wants. the oath is to the country. not to the district. getting voted back in should not be in the mix. term limit them.. put them in the health care pool with the rest of us. their pensions should come from the same place as the common man. take away the lobbyist. that alone makes your senators lose hundreds of staff each. dead weight that will all get a pension. toke away the profit in legislation. life time ban for working. for those companies, you help. lifetime ban on stock ownership from the same companies. if you want to make a law, pay for it. problems solved... next?
those who can, do. those who cant, talk about those who can
  • #502,540
  • Jul 28, 2011 10:07am Jul 28, 2011 10:07am
i used to be one of them!!!
hate the indi's now lol
everyone has their own preference .. simple SR , Supply Demand and chart patterns work the best for me.
HK

Quoting PhAnTi'
A lot of traders, especially new ones, put a lot of trust in indicators thinking that prices would go and go directly to where the indicators say they should. A lot of traders believe that indicators can forecast the limits of behaviour. Traders believe that indicators can tell them what is reasonable or what is predictable based on the past.

[i]The market as a whole is not reasonable; prices are set by traders, traders are impressionable and imitative, they are herd animals and follow the crowd either up or down,...
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