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  • #563,681
  • Nov 17, 2011 11:06am Nov 17, 2011 11:06am
A hs in M15 tf with sell off in M30 & H1 tf exhaustion perhaps at last . lets see .how far it can down .40 pips from 3500 possible .lets see if works or again abort .so break 3500 first & hold .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #563,682
  • Nov 17, 2011 11:10am Nov 17, 2011 11:10am
Quoting Ifmyante
There really is alot to learn about what to look for in the market.

But don't worry, there are people who teach it freely, who show you that nothing is random in the market.

Find them and you're on your way.

Just don't spend a cent of your own money until you've learned how the market works
thnx so much for the advice ,, but just for argument sake i have been studying forex for the last 2 years, day and night and one of the most things i have ever read is " markets are always changing" what do u think about that ?
  • #563,683
  • Nov 17, 2011 11:11am Nov 17, 2011 11:11am
Quoting Ifmyante
Just don't spend a cent of your own money until you've learned how the market works

That's REALLY REALLY hard......you need the mentality to succeed, that mentality is only achieved by hardening yourself to seeing losses and your career/livelihood impacted. I think it's incredibly hard to learn what the risks and decisions mean by a demo account. The ONLY exception would be 100% automated trading, where you demo test, and then turn it on live.

There's reason wallstreet trading is so highly prized vs some equally smart day trader who is sitting in a basement. The difference is not just prestige/opportunity, but the mentality building that comes along with being in a situation where you can make or lose millions/billions for your firm.
  • #563,684
  • Nov 17, 2011 11:11am Nov 17, 2011 11:11am
Quoting twinsummit
As I say in my previous post during Asian session if EU able to break Daily Pivot,we might expect an Up Trend or Retracement.However,looking at the chart,the there's 2 pattern created:

1) Range Channel,H1 (between 1.3400 - 1.3500)Blue Line
2) Traingle Pattern, H4 (Red Line - not confirm pattern)

If the market heading UP,our 1st Resistance is at Monthly Pivot.Otherwise,it has to break the previous support 1.3431
The last time I checked, the triangle pattern is a continuation pattern. The rest is left for you to decide.
Don't just beat the markets, leave bruises.
  • #563,685
  • Nov 17, 2011 11:11am Nov 17, 2011 11:11am
Quoting fontu
A hs in M15 tf with sell off in M30 & H1 tf exhaustion perhaps at last . lets see .how far it can down .40 pips from 3500 possible .lets see if works or again abort .
fontu
thanks fontu. some uk pple call this a "crown" if i recall correctly.
  • #563,686
  • Nov 17, 2011 11:13am Nov 17, 2011 11:13am
Quoting Tom_D_Trader
Btw, I am really having fun right now. Could you expand here, what does it say about my character? I am really curious about your analytical skills, although they dont appear strong to me so far.
Sure. A statement like "I cannot ever possibly go on tilt", or something to that effect shows your inability to set your ego aside and learn something.

You think in terms of absolutes and don't believe that you can make a mistake. When the cards don't go your way, you tend to blame someone else for a bad play, or worse yet, "the dealer fuc*ed me".

This same attitude bleeds into your trading. You take your trades with great conviction, entering with a mindset that you must be right in your entry and target. You can't be wrong... at least, that's what you tell yourself. You've probably blown several accounts this way. When trades go against you, you prefer to double down rather than exit or sit and wait. You probably play poker in the same manner, thinking you can always bet your way out of a bluff if you simply keep firing. Eventually, someone sees through you and you bust.

Furthermore, you take great pride in how people perceive you. It wouldn't be surprising if you've been flamed for offering poor advice and blowing up accounts in the past and, in turn, are on your 2nd, 3rd, or more FF user ID.

Your inability to admit you are wrong and that you have far more to learn than you could possibly know is the reason for your inability to improve as a trader. Never admitting you're wrong or don't know something keeps the door shut into learning how to improve.

Everything I've said here will hit dramatically home to you. However, you'll soon forget your brief moment of epiphany as you attempt to laugh it off publicly because you have no idea how else to defend yourself and it's incredibly important to you that your appearance isn't damaged. Now that I've said that, you'll pause before responding, trying to think about how you can do so without proving me correct.

Good luck with that and your next account
check out my blog: forexmademillionaire dot com
  • #563,687
  • Nov 17, 2011 11:13am Nov 17, 2011 11:13am
Quoting Ahmed-Egy
thnx so much for the advice ,, but just for argument sake i have been studying forex for the last 2 years, day and night and one of the most things i have ever read is " markets are always changing" what do u think about that ?
2yrs.... isn't enough... imo.
  • #563,688
  • Nov 17, 2011 11:13am Nov 17, 2011 11:13am
Gold VS EU

As I say on my previous post,if Gold confirm for
Down Trend,it must Retrace back to the Previous SR Key Level.

Gold confirm Down for 3 reason:

1) Up Trend Line Breakou (Green Line)
2) Triangle Pattern Breakout (Red Line)
3) Retest back SR Key Level


Twinsummit
Attached Image (click to enlarge)
Click to Enlarge Name: GOLD 1.0.gif Size: 69 KB
Trade what you SEE, don't trade what you FEEL. Be Smart! - (Webadoi)
  • #563,689
  • Nov 17, 2011 11:14am Nov 17, 2011 11:14am
Quoting ThisPip
time to get below 1.35 ...
Surely it will break 1.35 soon !!! FFS
  • #563,690
  • Nov 17, 2011 11:14am Nov 17, 2011 11:14am
Quoting lolygagv2
but the mentality building that comes along with being in a situation where you can make or lose millions/billions for your firm.
I'd rather make the millions/billions for myself, but hey, I'm just a greedy bastard
New voice message: Why are you calling me? If I need you, I'll call you!
  • #563,691
  • Nov 17, 2011 11:15am Nov 17, 2011 11:15am
New Target...Cable 1.58230 Don't be gettin giddy..these targets can turn on a dime once hit.
entry - 1.29250 s/l 200 pips
  • #563,692
  • Nov 17, 2011 11:17am Nov 17, 2011 11:17am
Quoting ThisPip
thanks fontu. some uk pple call this a "crown" if i recall correctly.
thanks for information , actually tired with shorts , off & on not like with shit pa today .wish be the pudendal block , someone taking action lately .
fontu
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usd1.gif Size: 11 KB
Click to Enlarge Name: usd2.gif Size: 12 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #563,693
  • Nov 17, 2011 11:19am Nov 17, 2011 11:19am
Quoting GB_Trader
Surely it will break 1.35 soon !!! FFS

I tell you what, if i only would trade EURUSD i would go broke!
  • #563,694
  • Nov 17, 2011 11:19am Nov 17, 2011 11:19am
I have this feeling (yes I know, turn off emotions) that we have seen the low and will be going up big time in the next few days.
4 hr chart attached.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 4 hr 11-17-11.gif Size: 28 KB
New voice message: Why are you calling me? If I need you, I'll call you!
  • #563,695
  • Nov 17, 2011 11:20am Nov 17, 2011 11:20am
Actually, emotion and ego are the kill words for the Traders

prasannappl

Quoting Geppy
Sure. A statement like "I cannot ever possibly go on tilt", or something to that effect shows your inability to set your ego aside and learn something.

You think in terms of absolutes and don't believe that you can make a mistake. When the cards don't go your way, you tend to blame someone else for a bad play, or worse yet, "the dealer fuc*ed me".

This same attitude bleeds into your trading. You take your trades with great conviction, entering with a mindset that you must be right in your entry and target. You can't be wrong... at least,...
  • #563,696
  • Nov 17, 2011 11:22am Nov 17, 2011 11:22am
Geppy what were u playing? sngs/mtts/cash? Did y manage to get ur money back after the 'black friday'? And i agree. Poker is grind. Staring at my charts all day on a single pair feels less of a grind than poker. Of course its fun to play once a week but everyday...
  • #563,697
  • Nov 17, 2011 11:23am Nov 17, 2011 11:23am
Quoting Ahmed-Egy
thnx so much for the advice ,, but just for argument sake i have been studying forex for the last 2 years, day and night and one of the most things i have ever read is " markets are always changing" what do u think about that ?
Traders change, certainly, over time.

But you can still learn where all the orders are placed.

Once you see it, you're at the money river with a big bucket!
  • #563,698
  • Nov 17, 2011 11:24am Nov 17, 2011 11:24am
Quoting pkimnyc
2yrs.... isn't enough... imo.
Absolutely not. 3-4 years minimum, and that's if your a bright cookie.

PK, wtf are you doing in here?? lol...
  • #563,699
  • Nov 17, 2011 11:25am Nov 17, 2011 11:25am
The answer is yes as well as no. Traders like us do not put any impact on market; but traders like the BANKS do impact the market

[quote=Ahmed-Egy;5143457]Thanks for ur reply ,, i think the true question here that is blowing my mind for so long now is , does traders really have any impact on market
  • #563,700
  • Nov 17, 2011 11:26am Nov 17, 2011 11:26am
Quoting lolygagv2
That's REALLY REALLY hard......you need the mentality to succeed, that mentality is only achieved by hardening yourself to seeing losses and your career/livelihood impacted. I think it's incredibly hard to learn what the risks and decisions mean by a demo account. The ONLY exception would be 100% automated trading, where you demo test, and then turn it on live.

There's reason wallstreet trading is so highly prized vs some equally smart day trader who is sitting in a basement. The difference is not just prestige/opportunity, but the mentality...
I'm not talking about being psychologically prepared to gamble

I'm talking about KNOWING that price is going to move from A to B.

There is such a thing as risk free trading

Just learn where the orders are, and risk is minimised
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