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  • #547,721
  • Oct 6, 2011 8:42pm Oct 6, 2011 8:42pm
Quoting bumapatria
lol dude. You need to do what you feel is best .

i use the volatility of the news to get high quality entries, counter-entries, and gold and eur/usd is amazing at that. Enjoyed trading extreme yesterday.

I use the non-volatile asian sessions as a slow, but clear directions of where price goes in that particular session.

here is where my trade is now, and here is my results for yesterday.

just be confident, dont get complacent, ull be fine
having a strong emotional intelligence + strong trading style and system is key....
I am serious buddy, looked at your trading histroy, you had one trade earned 120 dollars but you trade 1 lot and most of your other trade wes less than 0.1 lot , or even just 0.01 lot.
This is a very very dangerous money management. be careful dont do that!
  • #547,722
  • Oct 6, 2011 8:42pm Oct 6, 2011 8:42pm
Quoting bumapatria
yup.

the 3400, and 3300 are key psychological levels for bears and bulls at the moment.

3300 has been demand and support 3400 is the bear's playzone (supply)

can u show a chart with your analysis? i like seeing others' opinins
Definitely, I'm actually in the middle of a strategy game with a friend right now, but I'll be sure to cook up my chart right after and put it up. Keep in mind though I'm still pretty new at this
  • #547,723
  • Oct 6, 2011 8:47pm Oct 6, 2011 8:47pm
Quoting Yuchen
I am serious buddy, looked at your trading histroy, you had one trade earned 120 dollars but you trade 1 lot and most of your other trade wes less than 0.1 lot , or even just 0.01 lot.
This is a very very dangerous money management. be careful dont do that!
that was a major accident, that shouldve been avoided.
i only trade micro, but when i saw oil, i thought it was 0.01/
i was like SHITT.

i closed it out early.
big mistake.

lol,
Have I got something on my face, SOLDIER?
  • #547,724
  • Oct 6, 2011 8:50pm Oct 6, 2011 8:50pm
Looking at my system, I think it might go to 3460 here. Then down to support around 3385 then back to 3450 forming a head and s tomorrow. Not to confident but system shows up to 3460 in this hour (less than 10 mins left) and down to 3385 next hour and right shoulder peak at 11AM?
Founder of Sutherland Wave Principle
  • #547,725
  • Oct 6, 2011 8:53pm Oct 6, 2011 8:53pm
bulls are in play now, people
  • #547,726
  • Oct 6, 2011 8:55pm Oct 6, 2011 8:55pm
Quoting suthmo
Looking at my system, I think it might go to 3460 here. Then down to support around 3385 then back to 3450 forming a head and s tomorrow. Not to confident but system shows up to 3460 in this hour (less than 10 mins left) and down to 3385 next hour and right shoulder peak at 11AM?
im seeing that as well as the pattern recognition stuff.
anything visual we cansee?

perhaps....
a chart?

Have I got something on my face, SOLDIER?
  • #547,727
  • Oct 6, 2011 8:55pm Oct 6, 2011 8:55pm
Quoting KCV
Can any one refer a good Money Management site or book.

Thanks.
KC.

1st, always have sl, well, it should be a reasonable sl. for example, someone said my sl is 2000 pips or my sl is my account balance, then that's bullshit.. for me, my sl is usually 60-80 pips, sometimes 120 pips but that's it. if you follow the trend and patient enough to wait for the right price, around 50 pips should not bad for short term trade and 100 pips should be enough for a middle and long term trade unless some extraordinary event happend.
2nd, always invest small money. for example, i started with 1000 dollars and i usually play by 0.025 lot or sometimes 0.05 lot but no more than that, so in another words, invest around 2% should not bad and no more than 5%. some people maybe very good at 1 min trade and they invest 50% or full money but i dont suggest you do that. i know everyone has their strategy, but just imp, trade follow the trend with longer term is better.
3rd, dont add more lot when you are losing. sometimes maybe you keep add more and more and fortunately, the market back to your trading direction then all your former adding losing positions became profit and you earned very good money, but on the other happend, if you failed once, then you lost all your money.
4th, set a discipline. for example, i always have a plan, if i lost more then 2% today, then i will stop trade. If i lost more than 5% this week, then maybe it is not a bad idea take a break next week or if i really really really want to trade, then trade with 0.01 lot.
5th, use a lower leverage broker. i use ONADA and they give me 1:10 leverage, so even i invest all my money i could probably only trade 0.1 lot with 1000 dollars which is reasonable risk control and fortunately i finally learned from my former lose history so i have very high determination now and i can earn constantly small growth rate recently.
So bascially, the good money and risk management is easy and everyone understand it but hard to control especially most of us are sentiment and emontional bias...
  • #547,728
  • Oct 6, 2011 8:58pm Oct 6, 2011 8:58pm
I won't enter the market untill this pair breaks 1.3438 for more upside movment, or breaks 1.3404 for downside movement.... let's wait and see....
  • #547,729
  • Oct 6, 2011 9:01pm Oct 6, 2011 9:01pm
Quoting bumapatria
that was a major accident, that shouldve been avoided.
i only trade micro, but when i saw oil, i thought it was 0.01/
i was like SHITT.

i closed it out early.
big mistake.

lol,

lol, not bad buddy. i had a same experience as you. i was trying to long 0.1 lot UJ when i was at work and then i input 100,000 instead of 10,000 and then my supervisor went to my office and asked me for a meeting before i even had the time to set my sl so i was so nervous, i was surprisely saw that i had 300 dollars profit. but after this experience. i had a habit that always set stop before i submit my order cause that could prevent extraordinary happend, such as your internet suddently broken, or you had to leave before you set stop. And the most important, i will always know how much i can lose so i will not make mistake to input unit 100,000 instead of 10,000
  • #547,730
  • Oct 6, 2011 9:12pm Oct 6, 2011 9:12pm
Quoting bumapatria
yup.

the 3400, and 3300 are key psychological levels for bears and bulls at the moment.

3300 has been demand and support 3400 is the bear's playzone (supply)

can u show a chart with your analysis? i like seeing others' opinins
My M30 chart shows consolidation of price between two levels, one both resistance levels from this week since the gap. The 1H chart shows two spinning top candles after a very slight retrace, while the trendlines and consolidation make me think we might retrace to the 1.3360x level or so before maybe making a trip back up. Then again the news tomorrow might drive it either way.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: h1.jpg Size: 124 KB
Click to Enlarge Name: m30.jpg Size: 206 KB
  • #547,731
  • Oct 6, 2011 9:16pm Oct 6, 2011 9:16pm
Quoting bumapatria
im seeing that as well as the pattern recognition stuff.
anything visual we cansee?

perhaps....
a chart?

I'm not sharing this one, it's the most accurate system ever conceived. Look at my bio and see how amazing it is, then you will understand. It's priceless.
Founder of Sutherland Wave Principle
  • #547,732
  • Oct 6, 2011 9:17pm Oct 6, 2011 9:17pm
Thank you.

KC.

Quoting Yuchen
1st, always have sl, well, it should be a reasonable sl. for example, someone said my sl is 2000 pips or my sl is my account balance, then that's bullshit.. for me, my sl is usually 60-80 pips, sometimes 120 pips but that's it. if you follow the trend and patient enough to wait for the right price, around 50 pips should not bad for short term trade and 100 pips should be enough for a middle and long term trade unless some extraordinary event happend.
2nd, always invest small money. for example, i started with 1000 dollars and i usually play by...
  • #547,733
  • Edited 9:54pm Oct 6, 2011 9:25pm | Edited 9:54pm
Here...(the candle movements), some tips will be given...


It is trying to break upside of 10day MA in 1h and day...

May hold till it goes to middle bollinger band...


THose keen on entering, wait till 1m or 5m goes back to their low rsi respectively to be safe...
  • #547,734
  • Oct 6, 2011 10:09pm Oct 6, 2011 10:09pm
Afternoon I smell Bear is baby bear be born, all ladies agree, he deserve a coin waiting bim grow some teeth
If you are new to Forex? Say Goodbye to your account!!
  • #547,735
  • Oct 6, 2011 10:18pm Oct 6, 2011 10:18pm
FOREXBOOM (some lame broker paid him $5 to say this,in a helpless attempt to make a panic buy..)

ITS GOING TO REACH 2.5000 TODAY!!!
BUY!!!!
NOW!!!!!


despite that... lets watch this H&S possible pattern on m30. broke through gann fan resistance though.

but its the 3400 psycho-level that caused this buy. lets see if it reaches 3500 even deeper into bear zone.
Have I got something on my face, SOLDIER?
  • #547,736
  • Oct 6, 2011 10:21pm Oct 6, 2011 10:21pm
Quoting bumapatria
... lets see if it reaches 3500 even deeper into bear zone.
... ditto ...
WARNING: Don't follow me as I'm just learning
  • #547,737
  • Oct 6, 2011 10:32pm Oct 6, 2011 10:32pm
is it just me, or do i see the fattest kumo cloud everr,
n m15 lol.

went long with tight SL.

look at 2 charts here
any queestions ask.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur usd gann.gif Size: 19 KB
Click to Enlarge Name: fattest kumo cloud.gif Size: 24 KB
Have I got something on my face, SOLDIER?
  • #547,738
  • Oct 6, 2011 11:04pm Oct 6, 2011 11:04pm
Short at here with 3 lots
  • #547,739
  • Oct 6, 2011 11:07pm Oct 6, 2011 11:07pm
Bull will get more buyer if it take a quick retracement till 338x
It will help bull if it occur before NFP.
You cannot learn better without losing
  • #547,740
  • Oct 6, 2011 11:29pm Oct 6, 2011 11:29pm
Quoting bumapatria
is it just me, or do i see the fattest kumo cloud everr,
n m15 lol.

went long with tight SL.

look at 2 charts here
any queestions ask.
not the best place and risky to take a long shot there imho..
we are just below breakdown area
Actually I am not very well versed with Ichi but on H4 I see that the bull is weak cos the crossing is below the cloud and chinkou was below the crossing.
I'd prefer if this retrace to 33 area for long
Attached Image (click to enlarge)
Click to Enlarge Name: chin.gif Size: 24 KB
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