Where the bulls meet the bears 
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
- #781
- Sep 15, 2011 6:41am Sep 15, 2011 6:41am
- Joined Jun 2008 | Status: Plan your trade... Trade your plan | 3,710 Posts
- #783
- Sep 15, 2011 7:58am Sep 15, 2011 7:58am
- Joined Jun 2008 | Status: Plan your trade... Trade your plan | 3,710 Posts
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
- #784
- Sep 15, 2011 8:09am Sep 15, 2011 8:09am
- Joined Jun 2008 | Status: Plan your trade... Trade your plan | 3,710 Posts
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
- #786
- Edited 11:23am Sep 15, 2011 9:58am | Edited 11:23am
AUDUSD short from daily charts that have been holding for a few days now just closed it out for +313 pips.
we had similar entries on aud-usd and so the gains... 330 on mine today.
yesterday my aud-cad closed for 350 pips.
in between the above closed trades, i lost a no. of trades which i tried/practicing on 5M and/or H1 entries mostly
yesterday closes:
u-j -46, since 12-9
gold -117, 14-9
g-a -79, 14-9
a-j -36, 14-9
today closes:
c-j -46, since 12-9
a-nz -65, 14-9
gold -142, 15-9
e-g -34 15-9
from the above losing trades it made me to seriously reconsider my trading preference on whether lower vs higher tf
plus other issues like time availability and work. 
oh... my g-cad closed today for 190 pips gain
your comments are most welcome.
will join you later on.
cheers
- #787
- Sep 15, 2011 10:47am Sep 15, 2011 10:47am
- Joined Jun 2008 | Status: Plan your trade... Trade your plan | 3,710 Posts
we had similar entries on aud-usd and so the gains... 330 on mine today.
yesterday my aud-cad closed for 350 pips.
yesterday closes:
u-j -46, since 12-9
gold -117, 14-9
g-a -79, 14-9
a-j -36, 14-9
today closes:
c-j -46, since 12-9
a-nz -65, 14-9
gold 142, 15-9
e-g -34 15-9
oh... my g-cad closed today for 190 pips gain
cheers
Well if you add up all those figures here, you have +589 pips.
Not bad in my books.
You must remember you are going to have losing trades, no doubt about it. Losing days or possibly even a losing week. It's how your emotions, mindset and psychology reacts to a losing streak that counts. And ranging markets like we had this week can be quite hard to trade.
For some reason my PC is not letting my enlarge the images on FF however I was able to on my laptop during the course of the day. I will check it out tomorrow after rebooting PC but heading to sleep for now its getting quite later here and kinda tired.
Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
Hi nba,
Well if you add up all those figures here, you have +589 pips.
Not bad in my books.
You must remember you are going to have losing trades, no doubt about it. Losing days or possibly even a losing week. It's how your emotions, mindset and psychology reacts to a losing streak that counts. And ranging markets like we had this week can be quite hard to trade.
For some reason my PC is not letting my enlarge the images on FF however I was able to on my laptop during the course of the day. I will check it out tomorrow after rebooting...
i think u got the "8 trades" incorrect. i meant i "lost" these 8 trades
i further analyzed... u r correct... counter trend trading offers higher risk comparing to trend trading. novice traders like me should avoid possible counter trend trading.
setting SLo is where i am weak... thinking about it, i could have set shorter TP.
time availability to follow the trades is also important if i want to trade lower tf H1 or fewer.
i could have saved many pips if i did the above last two factors correct.
i also find the higher tf (D in particular) PA is more reliable to trade. I can use 5M/H1 as confirmation to H4/D trades.
that's all for now.
c u tomorrow.
cheers
- #789
- Edited 8:12pm Sep 15, 2011 6:44pm | Edited 8:12pm
- Joined Jun 2008 | Status: Plan your trade... Trade your plan | 3,710 Posts
hi dw
i think u got the "8 trades" incorrect. i meant i "lost" these 8 trades
i further analyzed... u r correct... counter trend trading offers higher risk comparing to trend trading. novice traders like me should avoid possible counter trend trading.
setting SLo is where i am weak... thinking about it, i could have set shorter TP.
time availability to follow the trades is also important if i want to trade lower tf H1 or fewer.
i could have saved many pips if i did the above last two factors correct.
i also find the...
Yes but all I did was add up the total pips, winners minus losing trades and thats the total count I got from the figures provided.
Counter trend trading, while it can at times be profitable it is inherently more risky and yes I would suggest to stick with trading in the directin of the overall trend.
It is good to review all your losing trades for what you could have potentially done better in the trade. By doing so you will learn about stop placement, take profit levels etc.
The available time that you have to trade should be one of the most important factors that you should take into consideration when choosing a trading method. If it does not fit in with your lifestyle then there is a good chance it simply is not the right style for you.
There is absolutely no doubt that the higher time frames are more reliable as they are less susceptible to the "noise" within the markets that is evident on the lower time frames.
Although you need to be much more patient on the higher time frames to wait for potential set ups to present themselves, I would highly recommend that when starting out that you stick mainly to the higher time frames. Once you have proven to be able to get consistency within the the higher time frames then look at trading the lower time frames.
You must remember that the lower the time frame you go the less you potential profit targets and tighter your stops must be as the market will move around quite a bit. You simply can not expect the same profit targets out of a 5 min trade that you would expect from a 4 hourly or daily chart.
Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
- #790
- Sep 15, 2011 6:46pm Sep 15, 2011 6:46pm
- Joined Jun 2008 | Status: Plan your trade... Trade your plan | 3,710 Posts
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
- #791
- Sep 15, 2011 7:54pm Sep 15, 2011 7:54pm
- Joined Jun 2008 | Status: Plan your trade... Trade your plan | 3,710 Posts
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
Hi nba,
Yes but all I did was add up the total pips, winners minus losing trades and thats the total count I got from the figures provided.
Counter trend trading, while it can at times be profitable it is inherently more risky and yes I would suggest to stick with trading in the directin of the overall trend.
It is good to review all your losing trades for what you could have potentially done better in the trade. By doing so you will learn about stop placement, take profit levels etc.
[color="RoyalBlue"]The...
good morning.
thank you once again for your all pointers (all taken)... which are again re-confirmed my thoughts
u r v
happy pipping.
cheers
add: ooops! i don't know why the reply was "chopped?"
Daily and 4 hourly charts not offering too much up today. Will keep an eye on the 4 hourly charts during the day.
i saw on D charts as follow:
usd-sgd has an IB,
aud-nzd 2 PB,
aud-cad IB,
aud-usd 2 past candles have long lower wicks pulled back from weekly SL,
usd-jpy and gbp-jpy have PB yesterday,
chf-ypy and eur-jpy have similar PA - PB+PB/IB+PB/IB,
a few EUR pairs are around Daily horizontal lines but i yet to see good PAs,
btw i got the feeling a trend to be seen to change in aud pairs
i welcome your feedback.
cheers
Hi nba,
Yes but all I did was add up the total pips, winners minus losing trades and thats the total count I got from the figures provided.
Cheers.
oh, i corrected the u-j which is "-142" not the early figure "142." no worry. let us move on.
on the H4 eur-aud, the MB's low was broken down... but bcos it is now on the uptrend, i should wait for the (down) trend to change before making a trade... do you advice so? or at least to wait for the break down thru the D HL?
pls. comment?cheers
- #797
- Sep 16, 2011 2:08am Sep 16, 2011 2:08am
- Joined Jun 2008 | Status: Plan your trade... Trade your plan | 3,710 Posts
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
- #798
- Sep 16, 2011 2:38am Sep 16, 2011 2:38am
- Joined Jun 2008 | Status: Plan your trade... Trade your plan | 3,710 Posts
hi dw
oh, i corrected the u-j which is "-142" not the early figure "142." no worry. let us move on.
on the H4 eur-aud, the MB's low was broken down... but bcos it is now on the uptrend, i should wait for the (down) trend to change before making a trade... do you advice so? or at least to wait for the break down thru the D HL?
cheers
Inside bars can be difficult to trade especially when they are found in a small area of congested price movement.
Safest way to trade them is have the stop above the mother bar. Again things can vary simply depending on where the bars are found in different price patterns etc. All good trading set ups and methods are going to fail eventually and you are going to wear your stops getting hit.
Daily view of the same chart looks pretty much sideways, bit of resistance evident with the lows.
EUR is in all kinds of trouble at the moment, so any eur pairs long I would be a bit cautious of on the longer term charts.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
Hi nba,
Inside bars can be difficult to trade especially when they are found in a small area of congested price movement.
Safest way to trade them is have the stop above the mother bar. Again things can vary simply depending on where the bars are found in different price patterns etc. All good trading set ups and methods are going to fail eventually and you are going to wear your stops getting hit.
Daily view of the same chart looks pretty much sideways, bit of resistance evident with the lows.
EUR is in all kinds of trouble at the...
big thanks, pal.with your zoom-in charts, they offered n reinforced my thoughts... that's why in fx we have TP n SLo...
either way we will have to quick to pocket the gains or just cut the losses because the market does not tell anyone where it would be heading to...
e.g. from ur charts, traders A could follow blue parallel TLs vs traders B on red parallel TLs
also no one know the market would pause (range) before resuming the existing trend like those circle pink areas.
i got it now... quick gains or cut losses!
cheers
- #800
- Sep 16, 2011 3:07am Sep 16, 2011 3:07am
- Joined Jun 2008 | Status: Plan your trade... Trade your plan | 3,710 Posts
once again an excellent clarification, dw
with your zoom-in charts, they offered n reinforced my thoughts... that's why in fx we have TP n SLo...
either way we will have to quick to pocket the gains or just cut the losses because the market does not tell anyone where it would be heading to...
e.g. from ur charts, traders A could follow blue parallel TLs vs traders B on red parallel TLs
also no one know the market would pause (range) before resuming the existing trend like those circle pink areas.
i got...
They will not always work, which is why we use stops.
Walk away from my PC for a few a couple of seconds and miss the entry I was waiting for.... oh well... keep waiting.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1