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  • #524,821
  • Aug 16, 2011 11:09pm Aug 16, 2011 11:09pm
Quoting Smurf123

I also have the 100 and 200 SMA on my charts at all times. On a daily euro chart you can clearly see how price behaves around the 200 SMA.
I am MA gix...I am the Moving Average Guy!

Now, I werk with the 200 EMA...a few others, but using them to spot critical levels of support and resistance on ALL time frames can help you follow the flow of money...

Example, right now, we are trapped below the M5 200 EMA...happens to be the 1440 DTEMA as well..very powerfull s/r lines.

System...fook yeah!

If ya watch all the tfs and trigger with the trends, you can hammer the whole chart off the M1.

I know this for a fact...it is what I do.

Not perfect...but fuck it...who has to be perfect to profit?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #524,822
  • Aug 16, 2011 11:09pm Aug 16, 2011 11:09pm
Quoting Smurf123
That's what golf is fore.
I see what you did there.
  • #524,823
  • Aug 16, 2011 11:10pm Aug 16, 2011 11:10pm
Quoting QweeQwa


And there is nothing wrong with that. Bad things happen when one forces a trade just for the sake of saying at the end of the day "at least I tried."

No, sometimes turning the computer off and walking away is the best trading decision one can make.
You do know ) Thank you
  • #524,824
  • Aug 16, 2011 11:11pm Aug 16, 2011 11:11pm
Quoting kenfen69
Well...I'm positive there is a double bottom on my chart. But that doesn't mean it won't be retested and broken (I hope)...or retested, hold and turn into a triple bottom that doesn't get touched again for weeks.

Just a pattern to watch, mate. So far that level has held twice. Frankfurt mat take a stab at it to test for strength. If not them, maybe London. Just be aware of it...that's all it can offer you.
Basically, no new daily chart trade. heh. I'm ready to start selling up in the 4520'ish range.
  • #524,825
  • Aug 16, 2011 11:12pm Aug 16, 2011 11:12pm
Quoting Venice
Looks like a rather solid new member we have here...
Believe me, I learned that lesson the hard way.
  • #524,826
  • Aug 16, 2011 11:13pm Aug 16, 2011 11:13pm
Quoting gatorinla
http://www.forexfactory.com/attachme...2&d=1312334782

00
Attached Image


Mutha-fk-yeah!

You got me...ya bastid! Did NOT see that coming.
  • #524,827
  • Aug 16, 2011 11:13pm Aug 16, 2011 11:13pm
Quoting Smurf123
The trend is important but so are the levels. As an example, the hourly chart is in a clear uptrend, but our current PA has me going short. The idea is not so much to trade the trend, but also to spot new trends before they start.

When price consolidates in an area for hours/days that is when things get very exciting for me. It tells me that a move is on it's way, and the longer the consolidation, the larger the potential move.

I also have the 100 and 200 SMA on my charts at all times. On a daily euro chart you can clearly see how...
perfect !
  • #524,828
  • Aug 16, 2011 11:14pm Aug 16, 2011 11:14pm
Quoting sofia101
What I am trying to say and you know I have respect for you ,but I see people here trading every single pip that moves in any direction ,I am flat until the Europe ,because it will be more liquidity and more clear picture ,the biggest mistake of a new trader is over trading,I have been there before ,and I learned ,just my 2cents )
For the most part Sofia...

I really do 100% agree with you.

It is frustrating to watch the trades that happen here a lot of the time because of exactly what you say...people try to trade every pip, every spike, every turn...the thing is, if they don't understand the chart on a M1 level, how can they work on others?

The best thing about forex is that it is 24Hrs per day, a few relevant sessions, so to a point, can become a little easier to spot s/r levels as well as figure direction based off the individual sessions.

Right now...we are trapped in a supply area, but haven't tested the daily roll...not a lot of days we do that, unless we are looking for a large move, followed by capitulation.

I like the M1 charts, once I understood them and compared them to the rest of the time frames I got a lot better understanding of direction. When to hold em, when to fold em.

Thems is just my dos centavos though...

And really, everybody knows I am full of shit.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #524,829
  • Aug 16, 2011 11:15pm Aug 16, 2011 11:15pm
Quoting kenfen69
Well...I'm positive there is a double bottom on my chart. But that doesn't mean it won't be retested and broken (I hope)...or retested, hold and turn into a triple bottom that doesn't get touched again for weeks.

Just a pattern to watch, mate. So far that level has held twice. Frankfurt mat take a stab at it to test for strength. If not them, maybe London. Just be aware of it...that's all it can offer you.
yup, i understand it. cheers and good luck!
  • #524,830
  • Aug 16, 2011 11:15pm Aug 16, 2011 11:15pm
Quoting Magix

Not perfect...but fuck it...who has to be perfect to profit?
I agree with you, in the end it's about what works best for you as a trader. I just found that when I was working for trading firms, no one used any sophisticated MA's, most were very basic. They tended to focus on past levels and how price reacted around those levels. The 1.4354 area is a textbook example of that, site of the 100MA on the daily chart. On my chart I had it marked at the 1.4350, didn't look a the daily, for what reason, I can't say. But what would the market be if it didn't mess with your head a little?
  • #524,831
  • Aug 16, 2011 11:16pm Aug 16, 2011 11:16pm
Quoting Venice
Looks like a rather solid new member we have here...
This boy's done his homework!

I saw his first question...and knew there was a brain there!

My only fear is that its all books...not enough practical yet.
  • #524,832
  • Aug 16, 2011 11:18pm Aug 16, 2011 11:18pm
Quoting Venice
I see what you did there.
You sober?

I missed it.

Fore!
  • #524,833
  • Aug 16, 2011 11:18pm Aug 16, 2011 11:18pm
Quoting Magix
For the most part Sofia...

I really do 100% agree with you.

It is frustrating to watch the trades that happen here a lot of the time because of exactly what you say...people try to trade every pip, every spike, every turn...the thing is, if they don't understand the chart on a M1 level, how can they work on others?

The best thing about forex is that it is 24Hrs per day, a few relevant sessions, so to a point, can become a little easier to spot s/r levels as well as figure direction based off the individual sessions.

Right now...we are...
I am glad we agree )
  • #524,834
  • Aug 16, 2011 11:19pm Aug 16, 2011 11:19pm
Quoting Venice
Basically, no new daily chart trade. heh. I'm ready to start selling up in the 4520'ish range.
As good a place as any, V! 4520-50...nice band. Cap it around 4580.
  • #524,835
  • Aug 16, 2011 11:21pm Aug 16, 2011 11:21pm
Quoting kenfen69
Well...I'm positive there is a double bottom on my chart. But that doesn't mean it won't be retested and broken (I hope)...or retested, hold and turn into a triple bottom that doesn't get touched again for weeks.

Just a pattern to watch, mate. So far that level has held twice. Frankfurt may take a stab at it to test for strength. If not them, maybe London. Just be aware of it...that's all it can offer you.
db needs at least 2 pb in current trend, ken (2b safe). we had 1 so far.
  • #524,836
  • Aug 16, 2011 11:21pm Aug 16, 2011 11:21pm
Quoting flossbun
yup, i understand it. cheers and good luck!
You too mate!
  • #524,837
  • Aug 16, 2011 11:23pm Aug 16, 2011 11:23pm
Quoting pkimnyc
db needs at least 2 pb, ken. we had 1 so far.
WTF?

Attached Image (click to enlarge)
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  • #524,838
  • Aug 16, 2011 11:24pm Aug 16, 2011 11:24pm
Quoting kenfen69
WTF?

Attachment

  • #524,839
  • Aug 16, 2011 11:26pm Aug 16, 2011 11:26pm
Quoting pkimnyc
2 pb 2b safe, what, pk...who b in nyc?

How goes it, mate? Missed ya!
  • #524,840
  • Aug 16, 2011 11:28pm Aug 16, 2011 11:28pm
Quoting kenfen69
2 pb 2b safe, what, pk...who b in nyc?

How goes it, mate? Missed ya!
bad start of the week bro.
2 losses, no wins yet.
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