Attachments: Price is everything

Price is everything

#22,901
Nov 22, 2011 9:44pm Nov 22, 2011 9:44pm

gristar
| Joined Jul 2011 | Status: Invest in yourself before forex | 299 Posts

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#22,902
Nov 22, 2011 9:45pm Nov 22, 2011 9:45pm

Gabe2004
| Joined Jan 2010 | Status: Simplicity | 155 Posts

Quoting Venice

Disliked

I am as far as it gets from an artist. I'm a programmer for goodness sake. .........

Try and only pick supply / demand levels in line with the current intermediate trend.

If we make a new high, look for the next demand level below and start buying there... opposite for sells.

I never, ever take counters with the current intermediate trend.

Does it make it full proof? Absolutely not. But, it definitely increases the edge.

Ignored

Thanks you Venice.
We are closer in our proffesions than you think.
What timeframe is considered intermediate?

Gabe

Every rule has an exception. Except for this one.

#22,903
Nov 22, 2011 9:48pm Nov 22, 2011 9:48pm

Dropped Onion
Joined Mar 2009 | Status: Saper Vedere | 1,431 Posts

Quoting Gabe2004

Disliked

Thanks Chillypiper.
I have spent countless hours. (probably over 5K hours)

Gabe

Ignored

Gabe

the path of trading is littered with many causalities. we have limited info to process and no certainties. if you are making consistent mistakes change something. narrow down the pairs you trade, the times you trade and TFs.

when in a trade, have a clear plan on how you will react if price moves either way. learn to remove emotion as much as possible. ignore the dollar amounts in your trading account while in a trade. focus 100% on the charts. be aware of big news announcements that could pump prices. importantly, give your trades a fair chance to work out - in terms of pips and time. set a target that you are happy to reach - every day. trade consistent lot size. finally - learn from your mistakes and focus on winning.

you are your own best resource. rely on your instincts. protect your equity

#22,904
Nov 22, 2011 9:51pm Nov 22, 2011 9:51pm

PandaBBQ
| Joined Jul 2011 | Status: Trader | 143 Posts

long EU, profit locked.

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#22,905
Nov 22, 2011 9:52pm Nov 22, 2011 9:52pm

bumapatria
Joined Aug 2011 | Status: Trader | 10,724 Posts

Quoting Dropped Onion

Disliked

Gabe

the path of trading is littered with many causalities. we have limited info to process and no certainties. if you are making consistent mistakes change something. narrow down the pairs you trade, the times you trade and TFs.

when in a trade, have a clear plan on how you will react if price moves either way. learn to remove emotion as much as possible. ignore the dollar amounts in your trading account while in a trade. focus 100% on the charts. be aware of big news announcements that could pump prices. importantly, give your trades a fair...

Ignored

all said and done, and explained with great wisdom by Onion

Have I got something on my face, SOLDIER?

#22,906
Nov 22, 2011 9:52pm Nov 22, 2011 9:52pm

Chillypiper
Joined Sep 2010 | Status: MR. NOBODY | 3,042 Posts

Yep! nice dbl top, but see 3 fence's utill that on 15m..GL! Show your chart!

Quoting shadowthecat

Disliked

anyone tracking loonie right now? i am looking for1.0395.

Ignored

#22,907
Nov 22, 2011 9:54pm Nov 22, 2011 9:54pm

Venice
Joined Jul 2010 | Status: Weebley Wobbly Timey Wimey stuff | 10,604 Posts

Quoting Gabe2004

Disliked

Thanks you Venice.
We are closer in our proffesions than you think.
What timeframe is considered intermediate?

Gabe

Ignored

Time frame is irrelevant.

A close above a high on the 1m says the same thing to me as a close above a high on the daily chart. The only difference is the scope of targets / risk.

The 1m I aiming for 10 pips target, maybe 1-2 pips risk. Daily would be more like 50 pips risk, 200-400 target.

Every time frame needs to play out (this is why they are generally fractal in nature, and fractals inside of fractals so to speak).

the only difference I would say, is that the bigger the time frame you go up, the less likely you will get fake outs).

Pay attention to your swing highs, swing lows. Mark each and every one as it occurs. Then pay attention to price as it closes above or below, or fails to close above and below.

When it comes down to it, this game is all about risk management. We expect a demand/supply level to hold, when it doesn't, cut the order. More than likely, that zone will now be flipped and you can play in the opposite direction.

When I say intermediate trend, I am strictly referencing the most swing low and swing high. Which way is price going? Are we making new highs, or are we making new lows? From that, you have your intermediate trend. Buy on the pullbacks into demand, sell the rallies into supply.

#22,908
Nov 22, 2011 9:55pm Nov 22, 2011 9:55pm