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EurAnalysis Kindergarten 24 replies

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  • #10,001
  • Nov 16, 2011 10:38am Nov 16, 2011 10:38am
Quoting Tom_D_Trader
It is actually not that risky. I am always starting to short whenever we are heading towards ressistance and setting tp of lower trades to +1 pip, untill it finally turns around. When it does, I keep the trades from the top and market fluctuations clear TPs of lower trades. Thats how I build positions. If the market speeds up against me and total risk equals 0,6% I kill em all. But that just aint happening this week .

See the chart. Those triangles are my entries and green line is TP which is supposed to clear those bad shorts from 3512 zone....
Yep, I understand the idea. but with my account I would require 0.001 lots to do so however, recently she moves in a strange manner, you will admit that. Normal retracements would require being more careful, as your 0,6% limit would be more probable to get hit. Don't you agree ?
  • #10,002
  • Nov 16, 2011 10:41am Nov 16, 2011 10:41am
Quoting PipTrapper
Yes
Great !!!! A thread that is growing so well with good stuffs!!! Wish to get better and better...

Thank you for the guidance. And as you said i had been left in water by the bollinger band.

I will try what you have suggested.
  • #10,003
  • Nov 16, 2011 10:42am Nov 16, 2011 10:42am
Quoting PipTrapper
FxTsunami,

When you look at Bollinger bands on the historical candles, it creates the impression that the candles respect the outer bands. This is a fallacy because it is in fact the other way round. The Outer bands follow the candles.

Bollinger bands come in handy when the candle shoots up or down so far and fast that it passes the outer band, then when that happens in confluence with a support or resistance, it is time to take a trade in the opposite direction. These events do not happen often but they seem to be quite reliable.

Another use...
Well, sometimes when price shoots, on lower TFs price pierces band by whole band width (or even two or more, some spikes are really powerful). Probably in case of such spike if one is capable to enter a position it might be profitable scalp in most cases. But requotes would probably waste that attempt.

But, if bollinger band flattens and aligns with s/r level / trendline / sth else, and price spikes towards it, then if she does not pierce it straigt, a bounce is probable.
  • #10,004
  • Nov 16, 2011 10:54am Nov 16, 2011 10:54am
Quoting FX Tsunami
Thanks.... seems like i'm improving

If you had seen my earlier charts you could find more lines than candles
am will rarely post chart from now - but here take a look - Everything Is connected and Linked One each other - Once you know how to draw - the second step is learn to be discipline and trade with proper MM -

Here the Rules to be a good trader : Stay Discipline,Start with $100 try double it with risk 1% per trade each - If you cant double it with 1% risk then dont Jump into the Jungle yet
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If there was easy money lying around,no one would be forcing it into your
  • #10,005
  • Nov 16, 2011 10:56am Nov 16, 2011 10:56am
Quoting PipTrapper
FxTsunami,

When you look at Bollinger bands on the historical candles, it creates the impression that the candles respect the outer bands. This is a fallacy because it is in fact the other way round. The Outer bands follow the candles.

Bollinger bands come in handy when the candle shoots up or down so far and fast that it passes the outer band, then when that happens in confluence with a support or resistance, it is time to take a trade in the opposite direction. These events do not happen often but they seem to be quite reliable.

Another use...


I really believed the other way around about bollinger, i mean market moves obeying the bollinger.

I thought it worked exactly with standard deviation and i concluded that with a deviation of "2", market probably moved between the upper and lower band 95% (same old std. dev. theory)
  • #10,006
  • Nov 16, 2011 11:02am Nov 16, 2011 11:02am
Quoting FXMindset
am will rarely post chart from now - but here take a look - Everything Is connected and Linked One each other - Once you know how to draw - the second step is learn to be discipline and trade with proper MM -

Here the Rules to be a good trader : Stay Discipline,Start with $100 try double it with risk 1% per trade each - If you cant double it with 1% risk then dont Jump into the Jungle yet
Really helpful. And i have found myself hard to control my emotions. Need a paradigm shift on emotions !!!
  • #10,007
  • Nov 16, 2011 11:04am Nov 16, 2011 11:04am
http://www.forexlive.com/blog/2011/1...nfidence-vote/
  • #10,008
  • Nov 16, 2011 11:04am Nov 16, 2011 11:04am
Bollinger Bands consist of:

 

  1. an N-period (MA)
  2. an upper band at K times an N-period standard dev above the moving average (MA + Kσ)
  3. a lower band at K times an N-period standard dev below the moving average (MA − Kσ)

Typical values for N and K are 20 and 2, respectively.
Try to calculate it for youself and you'll see its lagging. That is, the bollinger band follows the price (like an MA) and not the other way around.

Quoting FX Tsunami
I really believed the other way around about bollinger, i mean market moves obeying the bollinger.

I thought it worked exactly with standard deviation and i concluded that with a deviation of "2", market probably moved between the upper and lower band 95% (same old std. dev. theory)
  • #10,009
  • Nov 16, 2011 11:13am Nov 16, 2011 11:13am
Quoting TheSwede
Bollinger Bands consist of:

 

  1. an N-period (MA)
  2. an upper band at K times an N-period standard dev above the moving average (MA + Kσ)
  3. a lower band at K times an N-period standard dev below the moving average (MA − Kσ)

Typical values for N and K are 20 and 2, respectively.
Try to calculate it for youself and you'll see its lagging. That is, the bollinger band follows the price (like an MA) and not the other way around.

Affirmative !!!!
  • #10,010
  • Nov 16, 2011 11:13am Nov 16, 2011 11:13am
Quoting FX Tsunami
Really helpful. And i have found myself hard to control my emotions. Need a paradigm shift on emotions !!!
The Book Is Everywhere
The Seminars Is Everywhere
The System is Everywhere

But Why They Still Fail and fail ? Its Facts bthat we cant ignored one - Think about it

Some people think they can trade after several winning - as they too proud with themselves - they forget the rules - Margin calling

Some people loss their profits - forget their mind - keep revenge - add big size of position In order too cover their loses - They Believe their analysis is Correct and They Like to prove Mr.Market they are true - Its Expensive and Margin Calling again

People always tell their Winning while hide their Losing - People rarely accept their Loss - They are not People,They are Simply Evil - Greed,Fear,Proud,Etc

Trading Its not bout our system,profits or Loss

Its about ourself
If there was easy money lying around,no one would be forcing it into your
  • #10,011
  • Nov 16, 2011 11:18am Nov 16, 2011 11:18am
Quoting FX Tsunami
I really believed the other way around about bollinger, i mean market moves obeying the bollinger.

I thought it worked exactly with standard deviation and i concluded that with a deviation of "2", market probably moved between the upper and lower band 95% (same old std. dev. theory)
Let's just say that it is a factor of price over time. In normal market moves, the bands wrap around the oscillations. Only when the market has a spike does it break the bands because the bands do not react that fast as they are based on a average of the last x candles (usually 20 or 21)

So if the market is trending up or trending down or going sideways in a calm manner, the bands are able to stay on the outside of the candles.
Those who say it cannot be done should not interrupt those who are doing it
  • #10,012
  • Nov 16, 2011 11:21am Nov 16, 2011 11:21am
Quoting FX Tsunami
Really helpful. And i have found myself hard to control my emotions. Need a paradigm shift on emotions !!!
7 Habits ?
Those who say it cannot be done should not interrupt those who are doing it
  • #10,013
  • Nov 16, 2011 11:23am Nov 16, 2011 11:23am
Quoting FXMindset
The Book Is Everywhere
The Seminars Is Everywhere
The System is Everywhere

But Why They Still Fail and fail ? Its Facts bthat we cant ignored one - Think about it

Some people think they can trade after several winning - as they too proud with themselves - they forget the rules - Margin calling

Some people loss their profits - forget their mind - keep revenge - add big size of position In order too cover their loses - They Believe their analysis is Correct and They Like to prove Mr.Market they are true - Its Expensive and Margin Calling again

People...
"add big size of position In order too cover their loses" : i have done this several times.

The good thing is eventhough i win i could not convince myself because i did not win it with a reason. I knew i gambled. So, i started searching reasons before an entry. Frankly, till now i could not even find convincing reasons. I made 50 pips profit today, after booking i didn't know why i closed, and more importantly i didn't know why i made an entry.

I guess i need to learn more (pratically) for reasoning to myself.
  • #10,014
  • Nov 16, 2011 11:27am Nov 16, 2011 11:27am
Quoting PipTrapper
7 Habits ?
yup

may be i need to create first
  • #10,015
  • Nov 16, 2011 11:31am Nov 16, 2011 11:31am
Quoting FX Tsunami
"add big size of position In order too cover their loses" : i have done this several times.

The good thing is eventhough i win i could not convince myself because i did not win it with a reason. I knew i gambled. So, i started searching reasons before an entry. Frankly, till now i could not even find convincing reasons. I made 50 pips profit today, after booking i didn't know why i closed, and more importantly i didn't know why i made an entry.

I guess i need to learn more (pratically) for reasoning for myself.
The most important is to learn that you do not HAVE to always be in a trade to make money. You need to plan out the trade based on how you want it to work and then let the price come to you. Then you have a reason to be in. If price does not come to you, you have no reason to be in. If you get in anyway because you see price moving down and you don't want to miss the train, the chance of loss will be much higher because you entered without a plan.
Those who say it cannot be done should not interrupt those who are doing it
  • #10,016
  • Nov 16, 2011 11:34am Nov 16, 2011 11:34am
Quoting FX Tsunami
yup

may be i need to create first
Read the section on emotional intelligence again

and then study and practice the priority quadrants.

Hint: You must never enter a trade in urgency, only when it is important.
Those who say it cannot be done should not interrupt those who are doing it
  • #10,017
  • Nov 16, 2011 11:38am Nov 16, 2011 11:38am
Quoting FX Tsunami
This is all i use now...
Those are nice charts. Now just the patience and money management . And I recommend to place S/R at weekly closes/highs/lows. You shall see how price in next week behaves around these lines.
"I know one thing, that I know nothing." Sokrates
  • #10,018
  • Nov 16, 2011 11:39am Nov 16, 2011 11:39am
Quoting PipTrapper
The most important is to learn that you do not HAVE to always be in a trade to make money. You need to plan out the trade based on how you want it to work and then let the price come to you. Then you have a reason to be in. If price does not come to you, you have no reason to be in. If you get in anyway because you see price moving down and you don't want to miss the train, the chance of loss will be much higher because you entered without a plan.
"do not HAVE to always be in a trade to make money" : that is the point. My greatest mistake. I will make an entry once i open my system. The maximum i can hold is an hour. But i have improved a lot in that.

And one more i does: enter more than one order. I mean, if i short AUDUSD, I would long GBPAUD at the same time eventhough i know that spread is higher. Will that be a good idea???

Actually i didn't want to do that. I wanted myself to be in ONE POSITION AT A TIME.
  • #10,019
  • Nov 16, 2011 11:43am Nov 16, 2011 11:43am
Quoting Blobik
Yep, I understand the idea. but with my account I would require 0.001 lots to do so however, recently she moves in a strange manner, you will admit that. Normal retracements would require being more careful, as your 0,6% limit would be more probable to get hit. Don't you agree ?
Yea, I agree. Thats why I got under such a pressure at Fryday, when price shoot up like mad, so I was risking 2%. I just need more money, but I wont put em in FX untill I am profitable for half a year. So right now I just need to be precise. So far it goes well, since this huge bear is easy to follow.
"I know one thing, that I know nothing." Sokrates
  • #10,020
  • Nov 16, 2011 11:43am Nov 16, 2011 11:43am
Quoting Tom_D_Trader
Those are nice charts. Now just the patience and money management . And I recommend to place S/R at weekly closes/highs/lows. You shall see how price in next week behaves around these lines.
well, yes. PATIENCE. I lag that very much. Have to take necessary actions

and your quote, "i know that i know nothing" : Humble enough

That suits me more perfectly !!!
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