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Price Action and Trading Discussion

  • #101
  • Nov 3, 2011 2:55am Nov 3, 2011 2:55am
Quoting DarkWolF
Short AUDUSD @ 1.03396 on 4 hourly.

TP achieved while I was at work today @ 1.02137
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #102
  • Nov 3, 2011 5:04am Nov 3, 2011 5:04am
Quoting DarkWolF
TP achieved while I was at work today @ 1.02137
  • #103
  • Nov 3, 2011 6:59am Nov 3, 2011 6:59am
Took NZDJPY long on 4 hourly, closed it out slightly before my profit target.

Was a couple of potential opportunities tonight but I opted to take only one which turned out ok for me.
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  • #104
  • Nov 3, 2011 7:11am Nov 3, 2011 7:11am
nice darkwolf

im good today with PA made 40+ pips today
Have I got something on my face, SOLDIER?
  • #105
  • Nov 3, 2011 7:17am Nov 3, 2011 7:17am
Quoting bumapatria
nice darkwolf

im good today with PA made 40+ pips today
Nice work on the pips Buma, how did your AUD short end up yesterday ?
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #106
  • Nov 3, 2011 7:22am Nov 3, 2011 7:22am
Quoting DarkWolF
Nice work on the pips Buma, how did your AUD short end up yesterday ?

forgot about it im not sure lol hahaa
Have I got something on my face, SOLDIER?
  • #107
  • Edited 4:27am Nov 4, 2011 3:59am | Edited 4:27am


I can see why people think there broker is manipulating the charts. Another trade that went in the opposiste direction ! I should just do the exact opposite of what think ...13 consecutive losses now, atleast im trading only 1% per trade ...87 to go !

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  • #108
  • Nov 4, 2011 5:22am Nov 4, 2011 5:22am
Quoting dan89


I can see why people think there broker is manipulating the charts. Another trade that went in the opposiste direction ! I should just do the exact opposite of what think ...13 consecutive losses now, atleast im trading only 1% per trade ...87 to go !

Attachment
Hi Dan,

Only just fired up some charts for the day as am away for the weekend and only just got to fire up my laptop and see what is going on. Looks like it went up to your target right after stopping you out. Little bit unlucky on that one I think.

The whole broker chart thing is a bad mindset to get into.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #109
  • Nov 4, 2011 5:43am Nov 4, 2011 5:43am
Yeah price went up after being stoped out ... What do you think about the trade setup anyway ... something you would of taken yourself ?
  • #110
  • Nov 4, 2011 6:24am Nov 4, 2011 6:24am
Quoting dan89
Yeah price went up after being stoped out ... What do you think about the trade setup anyway ... something you would of taken yourself ?
Yep that is one that I would be looking at that is for sure. I have taken many trades with the exact same set up and had the same result you did.

But that's trading. Take the good with the bad.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #111
  • Nov 4, 2011 6:28am Nov 4, 2011 6:28am
Quoting dan89
Yeah price went up after being stoped out ... What do you think about the trade setup anyway ... something you would of taken yourself ?
i love ur quote dan
Have I got something on my face, SOLDIER?
  • #112
  • Nov 4, 2011 6:58am Nov 4, 2011 6:58am
Quoting bumapatria
i love ur quote dan
Thanks but i cant take credit for it, its a quote from Tony Robbins. I guess im still at the 'bad judgement' stage
  • #113
  • Nov 4, 2011 7:44am Nov 4, 2011 7:44am
DW just wondering if you have specific times that you trade the market ?
  • #114
  • Nov 4, 2011 7:53am Nov 4, 2011 7:53am
Quoting dan89
DW just wondering if you have specific times that you trade the market ?
I sure do Dan. The first 2 to 3 hours of the London or NY session if I am trading the short term charts. If nothing presents by then tomorrow is another day.

Daily obviously speaks for itself and the 4 hourly I am really looking at it only once being the first bar into the London session. Will do the second bar after London open too if I am awake but with DST now in place the times are a little later for me now.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #115
  • Nov 4, 2011 7:55am Nov 4, 2011 7:55am
Quoting DarkWolF
I sure do Dan. The first 2 to 3 hours of the London or NY session if I am trading the short term charts. If nothing presents by then tomorrow is another day.

Daily obviously speaks for itself and the 4 hourly I am really looking at it only once being the first bar into the London session. Will do the second bar after London open too if I am awake but with DST now in place the times are a little later for me now.
Thanks, So on the short term charts do you trade both the london and NY or just one ? I think i need to pick specific times because i find myself looking to hard for setups during the whole day.
  • #116
  • Nov 4, 2011 8:05am Nov 4, 2011 8:05am
Quoting dan89
Thanks, So on the short term charts do you trade both the london and NY or just one ? I think i need to pick specific times because i find myself looking to hard for setups during the whole day.
This time of year it's mainly the London session due to DST. The NY open ends up a bit later my time so it just depends how tired I am getting. But ya when DST is not in play I can easily fit it in.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #117
  • Nov 4, 2011 8:43am Nov 4, 2011 8:43am
Just to add to that last post Dan I found when I was on leave from work and able trade any time it was very easy to fall into overtrading. And that can be very dangerous. It really is best to stick to certain market times only. But do what fits you and your lifestyle. You only need one or 2 trades and that can be easier at the times of the day when the liquidity in the market is much higher.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #118
  • Nov 4, 2011 11:39am Nov 4, 2011 11:39am
Quoting DarkWolF
Just to add to that last post Dan I found when I was on leave from work and able trade any time it was very easy to fall into overtrading. And that can be very dangerous. It really is best to stick to certain market times only. But do what fits you and your lifestyle. You only need one or 2 trades and that can be easier at the times of the day when the liquidity in the market is much higher.
Thanks for all the help DW, I really appreciate it.

I've got the weekend to clear my head from all the losses, but will try again starting from Monday. Its just really frustrating when all the trades ive taken have been losses ... I now understand why most people fail at forex or give up. However the way I see it, if there are people who are successful on this forum then i guess theres no reason why i cant be successful aswell ... i hope.

Anyway will be back monday morning

Cheers
Dan
  • #119
  • Nov 6, 2011 6:25am Nov 6, 2011 6:25am
Quoting dan89
Thanks for all the help DW, I really appreciate it.

I've got the weekend to clear my head from all the losses, but will try again starting from Monday. Its just really frustrating when all the trades ive taken have been losses ... I now understand why most people fail at forex or give up. However the way I see it, if there are people who are successful on this forum then i guess theres no reason why i cant be successful aswell ... i hope.

Anyway will be back monday morning

Cheers
Dan
Hi Dan,

Trading can at times be very frustrating. All traders have and will face the frustration of a period of drawdown.

Focus on the discipline of following your trading plan. It can be hard but well worth it in the end.

Of all things that come with discipline you must ensure you are practicing the correct risk managment. This is without a doubt one of the most important aspects of trading.

At times it can pay to trade with a demo account until you have the confidence and consistancy within your trading. Or if you would still prefer to trade live then simply lessen your position sizes to reduce the chance of you doing any significant damage to your trading capital.

Write down your trading plan, have it near your trading platform. If the trade you are about to take does not meet the criteria of your plan then simply do not take it. There will always be other opportunities.

Without a doubt it is a hard journey the one of the trader.

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #120
  • Nov 7, 2011 12:44am Nov 7, 2011 12:44am
Hi guys,

I've got this 12 pips just now.

ipnee
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