Fail Better | Page 79 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

A better Editor for mql is available. 100x better than MetaEditor 20 replies

Broker needs to do better, much better 4 replies

Better momentum and better Sine wave indicator 0 replies

Mathematical reasons why MOST DayTraders & scalpers fail? 197 replies

Is Better still better? 1 reply

Attachments: Fail Better
Exit Attachments

Fail Better

  • #1,561
  • Aug 25, 2011 4:21am Aug 25, 2011 4:21am
Quoting Atc
whoops ...Pat just noticed your post.
Easy pickings in that EJ.

Plund, most people worry about how to find a strategy that makes money.

Having the ability to call the market so well that you constantly miss a move by just a few pips is a good problem to have. Trust me ;-)

Try bidding / offering a few ticks lower / higher and you will be fine.

-Tom
  • #1,562
  • Aug 25, 2011 4:36am Aug 25, 2011 4:36am
Quoting the_wizard
Easy pickings in that EJ.

Plund, most people worry about how to find a strategy that makes money.

Having the ability to call the market so well that you constantly miss a move by just a few pips is a good problem to have. Trust me ;-)

Try bidding / offering a few ticks lower / higher and you will be fine.

-Tom
Thanks Tom!
  • #1,563
  • Aug 25, 2011 6:57am Aug 25, 2011 6:57am
Dont know if Im getting this right or wrong..but here is what im seeing.

Yellow was the first level I was watching, 111 round number. Then we had a break and close above (marked with an arrow) with the next following candles going down again forming a higher high so decided to mark that level which is the red level.

The yellow level seems a more strong level than the red one so...

(questions) when we have a break and closing above and comes down again that level shouldn't be take care until the market respects it again ?

If we have a higher high we should take that point where the sellers are as it made price come down and that will be the new s/r ?

Any help is appreciated.
Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: ej10.jpg Size: 84 KB
  • #1,564
  • Aug 25, 2011 4:36pm Aug 25, 2011 4:36pm
short 77.50 38 fib and atr....prior S
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 22 KB
  • #1,565
  • Aug 25, 2011 9:22pm Aug 25, 2011 9:22pm
Thoughts ?
Attached Image (click to enlarge)
Click to Enlarge Name: Daily-H1-GBPUSD-SS-Postion-8-25-2011 9-14-04 PM.jpg Size: 90 KB
  • #1,566
  • Aug 26, 2011 1:29am Aug 26, 2011 1:29am
Quoting the_wizard
Just wanted to follow up on this post with blind touch approach vs price action as I see it, when it comes to entries.

(check the post above for the original chart I attached so you can see I have not changed the levels in this one)

Levels Traders : Enter at 96.32 (as we said in the webinar - the only level that was R last) and exit at the FTA at 97.37 for +105 pips around 4 hours later.

Price Action Traders : Enter at 97.01 (1 pip above the H1 pin high) needing a stop below the pin at 96.12 and an FTA at 97.37 (risk : 89 / reward...
http://www.forexfactory.com/attachme...1&d=1313392484

Unfortunately i have missed the webinars but have grasped the basic concepts so far (Never looked at it this way before - cheers Tom).
I have read the thread but the 'evolving R' still gets away from me.

How did you know to put a buy limit at 96.32?

Thanks to all that have contributed, very enlightening. Its funny how you learn PA and S/R at the beginning then look at other avenues for success cause your just can't put ALL the pieces together. I love these type of threads.

Thanks again


Brad
Luck is where preparation meets opportunity.......
  • #1,567
  • Aug 26, 2011 2:22am Aug 26, 2011 2:22am
Quoting Ozzie Taz
How did you know to put a buy limit at 96.32?
That was the first area which acted as resistance last i.e. we are now expecting it to act as support. If you look at all of the other lines Tom marked on the chart you will notice that each one of them had already been tested as support on the way up.

Cheers
MM
  • #1,568
  • Aug 26, 2011 3:34am Aug 26, 2011 3:34am
Quoting Atc
short 77.50 38 fib and atr....prior S
I'm out at FTA
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 22 KB
  • #1,569
  • Aug 26, 2011 6:47am Aug 26, 2011 6:47am
Quoting cprao
Thoughts ?
Retested. and one half is out at the furst FTA1 and 2nd one is waiting at the 2nd half FTA
Attached Image (click to enlarge)
Click to Enlarge Name: Daily-H1-GBPUSD-SS-Profit-8-26-2011 6-40-07 AM.jpg Size: 78 KB
  • #1,570
  • Aug 26, 2011 10:32pm Aug 26, 2011 10:32pm
Wondering if this was a decent trade that just didn't work out, or is this not a strong level?

Grant
Attached Image (click to enlarge)
Click to Enlarge Name: $USDJPY (60 Min) trade.jpg Size: 76 KB
“Make everything as simple as possible, but no simpler.” – Albert Einstein
  • #1,571
  • Aug 27, 2011 1:59am Aug 27, 2011 1:59am
Quoting gc7
Wondering if this was a decent trade that just didn't work out, or is this not a strong level?

Grant
Grant, I took the same trade so, for what it's worth, I think it was a good one. Just didn't work out.

Although not all trades make it to the FTA, I have found it is very rare that you get no reaction whatsoever (even if it doesn't work out, it will almost every time get hung up on a level if you choose carefully) but from time to time it's going to cut through as if it was never there and this was an example...
  • #1,572
  • Aug 27, 2011 4:44am Aug 27, 2011 4:44am
Quoting the_wizard
Grant, I took the same trade so, for what it's worth, I think it was a good one. Just didn't work out....
Thanks Tom, I would rather lose on a good trade, then win on a bad trade. I just need to make sure I can tell them apart.
“Make everything as simple as possible, but no simpler.” – Albert Einstein
  • #1,573
  • Aug 27, 2011 6:14am Aug 27, 2011 6:14am
Thoughts?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: D-H4-CHFJPY-SS-Analysis-8-27-2011 6-10-11 AM.jpg Size: 75 KB
Click to Enlarge Name: D-H4-EURCHF-BR-Analysis-8-27-2011 6-05-10 AM.jpg Size: 72 KB
Click to Enlarge Name: D-H4-AUDUSD-BR-Analysis-8-27-2011 6-00-27 AM.jpg Size: 72 KB
  • #1,574
  • Aug 28, 2011 7:05am Aug 28, 2011 7:05am
Hi Mr Wiz/Tom,

Thanks for the thread..
Subscribing..and
Please could you add me to the webinars..
I have sent my email via the dante email on Friday..

many thanks
gdb
  • #1,575
  • Aug 29, 2011 4:34am Aug 29, 2011 4:34am
Comments ?
Attached Image (click to enlarge)
Click to Enlarge Name: D-H4-CADCHF-SS-Position-8-29-2011 4-24-44 AM.jpg Size: 78 KB
  • #1,576
  • Aug 29, 2011 5:33am Aug 29, 2011 5:33am
Quoting cprao
Comments ?
I'm watching the same.
  • #1,577
  • Aug 29, 2011 5:39pm Aug 29, 2011 5:39pm
Limit Sell Order missed by a mere pip Nice reaction at daily support turned resistance with a nice rounded retest.
Attached Image (click to enlarge)
Click to Enlarge Name: 30-08-2011 10-35-26 AM.png Size: 24 KB
  • #1,578
  • Aug 30, 2011 1:32am Aug 30, 2011 1:32am
Looking for shorts on EURUSD today after the D1 SFP.
  • #1,579
  • Aug 30, 2011 4:27am Aug 30, 2011 4:27am
Yeah. Have been watching the SPF on the 4H.

Didnt get a chance to jump on the train.

Now I am looking for a buy opportunity somewhere along the way
  • #1,580
  • Aug 30, 2011 1:37pm Aug 30, 2011 1:37pm
Isn't it SFP on H4 AUDJPY forming?
0 traders viewing now