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  • #555,801
  • Edited 12:58pm Oct 28, 2011 12:43pm | Edited 12:58pm
Quoting Yuchen
Fontu, can you explain a little bit more for your strategy how to counting wave? i see your wave is helpful but i dont understand how do you determine it, thanks
Thanks , you asked a very difficult things to write . just in short ,
price moves in waves in every time & every place in either in impulse or in correction of the impulse before next one comes up . will it continue go on impulse in one dirrrection ? no, impulse has 5 waves count followed by correction abc to comple a wave cycle & unfold next wave this abc correction can be lots types of complexes in it or may do but it is correction to any impulse .

in every impulse wave also consists of smaller impulse & correction to unfold next wave , so impuse 1 corrects by wave 2 unfold wave 3 that again corrects by wave 4 to unfold wave 5 and the whole impulse now become only one wave 1-5 to correct again abc down to prepare /unfold next big wave & so on.

No overlapping theory I use while counting to have the limit levels in real time trading as before it happen one may conclude next move .
wave 2 can't break orgin of 1, 4 of 3, or abc coorection the whole the origin of 1 if valid.

just get blind , not knew where the price position right now or in the cycle , many time very difficult to identify with even 100pips moves & still with the same confusion , price in impulse or correction big ?????
price stall one place should correct whatever small it be in the format of same abc pattern of correction , that is move with minimum 1-3 (abc ) of complex of abc or if obeys e wave rules in 1-5 waves . so at stallation start checking waves behaviour to decide next possible move , lower tf may be few pips waves or H1 tf or more bigger ones .
trend in trends , waves in waves , impulse in correction or correction in impulse all there in systemic ways just need more care at them to identify & in confution to count alternatives as price goes on covering possibilities.

easy to see them when done or very difficult in real time trading & apply them .
see charts now.
Thanks ,
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #555,802
  • Oct 28, 2011 12:55pm Oct 28, 2011 12:55pm
Quoting fontu
Thanks , you asked a very difficult things to write . just in short ,
price moves in waves in every time & every place in either in impulse or in correction of the impulse before next one comes up . will it continue go on impulse in one dirrrection ? no, impulse has 5 waves count followed by correction abc to comple a wave cycle & unfold next wave this abc correction can be lots types of complexes in it or may do but it is correction to any impulse .

in every impulse wave also consists of smaller impulse & correction to unfold next wave , so impuse...
Thank you very much for your time and clear explanation.. I see, this wave counting is complicated, as you mentioned it is hard to determine in the real time compare the history chart. I will keep working hard and read some articles related to that then i think i will ask you some questions in the future, thanks a lot.
  • #555,803
  • Oct 28, 2011 12:56pm Oct 28, 2011 12:56pm
Quoting chazzle


http://www.youtube.com/watch?v=CgyJR-1LYvE
not bad
  • #555,804
  • Oct 28, 2011 1:00pm Oct 28, 2011 1:00pm
http://www.bloomberg.com/news/2011-1...ince-1991.html

Good to know we're not the only ones having hard time trading fx
COT: The precious data ignored
  • #555,805
  • Oct 28, 2011 1:05pm Oct 28, 2011 1:05pm
Quoting Purple
I don't know about his personality.. But usually when I see someone abusive here.. Usually its time they bust their account or are already in their last die hard positions..

I have read Ibrahimovic name before.. I don't know who he was though..
When people make analysis or suggestion is different as they trade. Good analyst may not able to earn money. But still, on the other hand, most of his analysis is not bad, especially he could point out some prices are very close to the market movement..
I know the way how he laughed at people is arrogant and he may not earn as much as his analysis but it is common, most traders would like to show their profit and refused to admit their lose..
  • #555,806
  • Oct 28, 2011 1:12pm Oct 28, 2011 1:12pm
Quoting Yuchen
When people make analysis or suggestion is different as they trade. Good analyst may not able to earn money. But still, on the other hand, most of his analysis is not bad, especially he could point out some prices are very close to the market movement..
I know the way how he laughed at people is arrogant and he may not earn as much as his analysis but it is common, most traders would like to show their profit and refused to admit their lose..
I agree with your post... Some of his analysis was good and insightful.. Like the one I remember with polish bond yield rates and its impact on FX market.. Or something close to that...
  • #555,807
  • Oct 28, 2011 1:12pm Oct 28, 2011 1:12pm
Quoting kuroro001
http://www.bloomberg.com/news/2011-1...ince-1991.html

Good to know we're not the only ones having hard time trading fx

Yeah kuroro, i read that too. Big Banks trading FX is of course
a bit different then ours. However, in all choppy market conditions
they always come and whine. No matter where and who, Trading Desks
allover the world have a hard time to make money, as you see total funds
lost Billions.

They can only trade a Trending Market and get paid shit loads.
What a damn shame. If i would get an offer it would have to be
very good one ..lol
  • #555,808
  • Oct 28, 2011 1:14pm Oct 28, 2011 1:14pm
for last 7 hours candles make higher lows on M30 and H1 charts, but still remain within the Flag correction.
I have adjusted the upper trend line of the Flag correction to absorb the recent fake breakout.

The situation didnt change much for me:
We are now in the correction after the crazy bulls' rally. Rebound would target the weekly resistance line around 1.4350.

I just have a pair of issues
1) Will the weekly resistance change its status to monthly, as it is one and the same line? which means we might not see any rally this Friday; and
2) Will PA fake down below the current correction bands, or will it just head upwards when the time comes....


I still keep my long position @1.4162, only this time there is 1/3 of the initial amount, as I had to "spend" the rest on the recent fake breakout.
SL hidden behind EMA30 on H1. If triggered I am still in "+".

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  • #555,809
  • Oct 28, 2011 1:18pm Oct 28, 2011 1:18pm
Quoting kuroro001
http://www.bloomberg.com/news/2011-1...ince-1991.html

Good to know we're not the only ones having hard time trading fx
I read this news before, it seems most of traders have hard time for this voliated market.

I had a very bad trading on Wednesday and yesterday..
My trading was good this month, i earned more than 300 dollars, which is almost 14% of my account balance and i usually traded 0.02 or 0.03 lots so 300 dollars is good in terms of pips. I had a plan to stop trading if i earn more than 10% of my balance in a month or only trade 0.01 lot, but then i was so greedy... so on Wednesday, i had a long 0.02 lot USD/CAD at 1.0079 and another long 0.02 lot USD/CAD at 1.0093, they used to reached higher than 1.0120, which i am supposed to s/l b/e for my intial plan, but then i didnt follow my plan just leave them there. Later on, it dropped to 1.0060 and i add another 0.02 lot then i was thinking about to s/l all of them at 1.0040.. but then i changed my mind to s/l them at 0.9970... finally, when i woke up on Thursday, they were s/l and i lost 66 dollars on them... I told me it was not too bad if i stop trading because i still have almost 10% profit this month... however, when i saw EU went to 1.4080, i ignored the trend and didnt think about any reasons why it might up, i just thought it's a good opportunity to short, so i short 0.2 lots (it is not too heavy compare to my account but very heavey for my trading strategy because i usually trade 0.02 or 0.03 lots), and i set a s/l at 1.4200, after 4 hours, it was s/l so i lost another 240 dollars.. because of my bad emotional control and mm, i lost my profits for this month ..

so i did not trade today, just think about myself, the lack of discipline and impatient to want become rich in short time is the poision for trader...

i hope you have a good trade this month and will keep doing good in the future
  • #555,810
  • Oct 28, 2011 1:22pm Oct 28, 2011 1:22pm
For Yuchen


You didnt do too bad afterall. Just learn from it, you CAN do it.
  • #555,811
  • Oct 28, 2011 1:32pm Oct 28, 2011 1:32pm
Quoting ThisPip
For Yuchen


You didnt do too bad afterall. Just learn from it, you CAN do it.
Thank you
I had very bad mistakes before, i had all in experience and no s/l experience then i lost all my money
I am better now but I till need to have high control to survive in this market !!
  • #555,812
  • Oct 28, 2011 1:40pm Oct 28, 2011 1:40pm
i lost all few times. That is just part of the learning process.

It is like the "overnight success" of a Actor or Singer.

That "overnight success" usually was ten years or more in the making.
  • #555,813
  • Oct 28, 2011 1:59pm Oct 28, 2011 1:59pm
Quoting Yuchen
I read this news before, it seems most of traders have hard time for this voliated market.

I had a very bad trading on Wednesday and yesterday..
My trading was good this month, i earned more than 300 dollars, which is almost 14%............

Sorry to hear. But seems like you recognize your mistakes, and that is the important thing. Stick with da plan man! You will get it back. Patience.
  • #555,814
  • Oct 28, 2011 2:01pm Oct 28, 2011 2:01pm
Very slow day as most Fridays are. Been scalping GBP/JPY in a 15-20 pip range... not really my style, but I'm bored and it's pretty easy, passive pips.

My gut says there's still some consolidation to be done in EUR/USD and I'm still holding some shorts from 1.4165 I might consider holding them into the weekend. My reasoning is that if any market moving news comes out this weekend, it's much more likely to be bad than good. Since I think we'll be visiting sub 1.4100 before we visit new highs, I feel it's a good bet.

I hope everyone isn't going insane from the slow market and getting ready to enjoy the weekend.
check out my blog: forexmademillionaire dot com
  • #555,815
  • Oct 28, 2011 2:02pm Oct 28, 2011 2:02pm
No Friday evening pump before close. How unfortunate. Guess im going to have to close as is.
  • #555,816
  • Oct 28, 2011 2:03pm Oct 28, 2011 2:03pm
Quoting Yuchen
Thank you very much for your time and clear explanation.. I see, this wave counting is complicated, as you mentioned it is hard to determine in the real time compare the history chart. I will keep working hard and read some articles related to that then i think i will ask you some questions in the future, thanks a lot.
Welcome , things not that complex when already dead /done or examining on the dead /skeleton , practice applying rules .

anyway euro took no action today , prevent the correction though & no profit taking effects , Greece become the centre of the turmoil again but to fail even to go up at top or new top may be next week .opportunist may give a spike up just before the close towards 4197/4200 .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #555,817
  • Oct 28, 2011 2:11pm Oct 28, 2011 2:11pm
Quoting Geppy
Very slow day as most Fridays are. Been scalping GBP/JPY in a 15-20 pip range... not really my style, but I'm bored and it's pretty easy, passive pips.

My gut says there's still some consolidation to be done in EUR/USD and I'm still holding some shorts from 1.4165 I might consider holding them into the weekend. My reasoning is that if any market moving news comes out this weekend, it's much more likely to be bad than good. Since I think we'll be visiting sub 1.4100 before we visit new highs, I feel it's a good bet.

I hope everyone isn't going...
Agree and Agree..lol

It is the S&P500 that keeps everything from falling a little further.
Really sticky like dunk in Superglue. Prolly has much self confidence after that move of the decade yesterday.
  • #555,818
  • Oct 28, 2011 2:14pm Oct 28, 2011 2:14pm
Quoting ThisPip
Agree and Agree..lol

It is the S&P500 that keeps everything from falling a little further.
Really sticky like dunk in Superglue. Prolly has much self confidence after that move of the decade yesterday.
I think we will get away from that correlation soon. USD > on good news
  • #555,819
  • Oct 28, 2011 2:26pm Oct 28, 2011 2:26pm
Flat all day , waiting for markets to get stabilized after 50% Greek Bond cut ...
  • #555,820
  • Edited 2:39pm Oct 28, 2011 2:29pm | Edited 2:39pm
Quoting Kowalczyk
Time to test for new lows???
Do the old one first then .long carried out for next week with sl. no time to wait further it go 4196 or 4200 above last minute & close , better keep active & go.
happy weekend for all.
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
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