Ok thanks RJ ill try and back up with pics in future thanks for your help
- #1,422
- Oct 13, 2011 5:11am Oct 13, 2011 5:11am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
thanks for your advice. I understand that I must try to learn more
1. Could have made me exit my short, but I didn't......I just moved my SL to +10.
2. If I had exited, I could have gone long on the (temporary) spike. As you can see......I would be getting stopped out if I did that.
3. Could have exited my short for about +45.
1 and 3 were good options......2 was a crazy and low probability option. Why? Because that pullback was a bull trap
Have a look at your charts, you'll see these all the time.....and of course the opposite when we are rallying
Hope that helps
Doing what you like is Freedom. Liking what you do is Happiness.
- #1,423
- Oct 13, 2011 5:12am Oct 13, 2011 5:12am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Ok thanks RJ ill try and back up with pics in future thanks for your help
Doing what you like is Freedom. Liking what you do is Happiness.
- #1,424
- Oct 13, 2011 5:22am Oct 13, 2011 5:22am
- Joined Jul 2010 | Status: Always manage your risk & leverage | 7,339 Posts
your trap is known as bear flag and mostly... it make second bottom
if see things like this we should check divergence .... whatever the time frame is. and say we got lower tf say it make double bottom. we should keep major trend in our mind.
so ok...it will make bounce or bull or whathever...is. the major trend is bear.. looks like she wanna retrace to close higher TF and bang once higher tf close she will go south again and may be ...........
all is about relativity.... the matter is we work in what TF
***
while price dancing..... the indi will be like stars in the dark night so beauty
now check m5 tf ... what stoch indi say ....
if see things like this we should check divergence .... whatever the time frame is. and say we got lower tf say it make double bottom. we should keep major trend in our mind.
so ok...it will make bounce or bull or whathever...is. the major trend is bear.. looks like she wanna retrace to close higher TF and bang once higher tf close she will go south again and may be ...........
all is about relativity.... the matter is we work in what TF
***
while price dancing..... the indi will be like stars in the dark night so beauty
now check m5 tf ... what stoch indi say ....
Here's a good example for you man. See the nice drop on the eur/usd? See the pullback (yellow circle)? That pullback generated a temporary spike that could have done a few things:
1. Could have made me exit my short, but I didn't......I just moved my SL to +10.
2. If I had exited, I could have gone long on the (temporary) spike. As you can see......I would be getting stopped out if I did that.
3. Could have exited my short for about +45.
1 and 3 were good options......2 was a crazy and low probability option. Why? Because that pullback...
not euphoria follower
- #1,425
- Oct 13, 2011 5:30am Oct 13, 2011 5:30am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
your trap is known as bear flag and mostly... it make second bottom.
Doing what you like is Freedom. Liking what you do is Happiness.
- #1,426
- Oct 13, 2011 5:31am Oct 13, 2011 5:31am
- Joined Oct 2007 | Status: Trader | 2,972 Posts
your trap is known as bear flag and mostly... it make second bottom
if see things like this we should check divergence .... whatever the time frame is. and say we got lower tf say it make double bottom. we should keep major trend in our mind.
so ok...it will make bounce or bull or whathever...is. the major trend is bear.. looks like she wanna retrace to close higher TF and bang once higher tf close she will go south again and may be ...........
all is about relativity.... the matter is we work in what TF
***
while price dancing..... the...
exactly and the length of the drop out of the flag is generally the lenght of the initial flag pole on the bear flag.
- #1,427
- Oct 13, 2011 5:37am Oct 13, 2011 5:37am
- Joined Jul 2010 | Status: Always manage your risk & leverage | 7,339 Posts
not euphoria follower
- #1,429
- Oct 13, 2011 5:40am Oct 13, 2011 5:40am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
To EV and RJ,
yes...
i just want to share what the market most kill me in my past when i was too focusing with indi .... not more
indi is important but we should understand also about how the price dancing
indi is just like speedometer and we have to see condition of the street in front
Doing what you like is Freedom. Liking what you do is Happiness.
- #1,430
- Oct 13, 2011 5:42am Oct 13, 2011 5:42am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
I have so much to learn,i thought it was gonna be easy
Doing what you like is Freedom. Liking what you do is Happiness.
- #1,431
- Oct 13, 2011 5:45am Oct 13, 2011 5:45am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
- #1,432
- Oct 13, 2011 5:46am Oct 13, 2011 5:46am
- Joined Jul 2010 | Status: Always manage your risk & leverage | 7,339 Posts
yes bro ... that's why i wrote this before on this thread ...
btw i have to go for dinner and praying time here in indonesia
have to go off ...... c ya
btw i have to go for dinner and praying time here in indonesia
have to go off ...... c ya
scroll back daily candle 12 July
sorry, you buy at the top and didn't u see this : http://www.forexfactory.com/attachme...5&d=1318487387 ?
well...next i am sure u will do better.
keep the spirit ...
***
naked candle analysis+fibo+indi (whatever it is ) = profit
I agree. If you have a reasonable understanding of candles and basic formations.....plus a good system such as this one right here.....you should be able to make profit
not euphoria follower
- #1,433
- Oct 13, 2011 5:49am Oct 13, 2011 5:49am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
yes bro ... that's why i wrote this before on this thread ...
btw i have to go for dinner and praying time here in indonesia
have to go off ...... c ya
Doing what you like is Freedom. Liking what you do is Happiness.
- #1,437
- Oct 13, 2011 5:57am Oct 13, 2011 5:57am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
This is what I thought at first too, then I came to the realization that it is one of the hardest jobs to be successful at on Earth. To be good, you need to put the hours in. Just like every other profession. You can't walk into an operating room and perform surgery just because you have read a couple books on it. It takes hard earned skill to be good at Forex, just like everything else. They say you can be good at anything with 1000 hours put into it and this includes things you think you would never be able to do.
All it takes is is hard work...
Doing what you like is Freedom. Liking what you do is Happiness.
- #1,439
- Oct 13, 2011 6:16am Oct 13, 2011 6:16am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
M5 got me in at 3790
Doing what you like is Freedom. Liking what you do is Happiness.
- #1,440
- Oct 13, 2011 6:22am Oct 13, 2011 6:22am
- Joined Oct 2010 | Status: full time beer drinker | 1,345 Posts
Just closed for +75. I may have left some pips on the table.....but the PA might have trouble cracking the round number 3700, and the US Unemployment news will be coming in a little over an hour. So, I'll take the +75 and go make some coffee!!