Jurn_e, keep a eye on this one. I dont think there is a big move down.
- #3,122
- Edited 8:15am Nov 28, 2011 7:29am | Edited 8:15am
Short EU based on M5 SEFC
Update: Out with short -5 pips. Long as per long signal seen @ 1.3368
Update: out with my long for +11 pips, sidelines for now
ç¦ å Victor V
EDIT: out at 5589. the trendline is still flat. i think we are now entering a ranging mkt for GU. it can probably reach that 5590 but, im happy with what i have... i think i have 100pips already for today... time to study eval's system again. i hate ranging mkts.... so the bull will kick in by jap???
Trade the trend and scalp the pullbacks. If you don't recognize pullbacks (they are patterns, with a start and and end), just trade the trend. Because if you trade a pullback move and wait for the trendline to be properly colored, it's almost guaranteed you will enter on the last candle of the move. If you can't recognize the trend (without indicators), it's dangerous for you to trade at all.
I guess views and advice like these are not welcome by most, and blind signal following is the religion here.. so this is my last take on this matter - no more heretic posts
@camvcvoo: didn't forget
the scripts will be ready tomorrow in my thread - i will pm you, you don't have to check.@eval: thanks for the offer on EA ideas.. very appreciated. i will contact you soon when i'll be ready.
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I agree with you here. Just by looking at the bullish daily candle, the fractal that it formed on the bounce, and the support area from which it bounced, has kept me looking at the extreme red spikes as places for reentry for longs.
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- #3,131
- Nov 28, 2011 8:50am Nov 28, 2011 8:50am
@camvcvoo: didn't forget
Thank you very much for your help. Will keep a look out as well.
ç¦ å Victor V
there was a >120pip impulse move in eur/usd, aud/usd and cable since london open, followed by a flag. this is uptrend and it's likely to continue.. the market is not mechanical. don't go against obvious MOMENTUM even if the flashlights tell you. if you think you can blindly follow any system (just by colours) in short TF (< H4) and make more than lose, you are wrong (of course you don't have to believe it).
Trade the trend and scalp the pullbacks. If you don't recognize pullbacks (they are patterns,...
which requires minimum couple of years experience to become a consistent trader. I am not against hardwork or to learn.But i love "simple system" which can only possible with indicator based system. yes indicator based system works when there is trend and kills in side ways. Am working on this how to intervent the Price Action statergies in this system not adding more indicators or averages or changing the time frames or drawing the lines..... .
SIMPLY FINDING THE SOLUTION WITHIN THE THIS SYSTEM .
- #3,135
- Nov 28, 2011 3:40pm Nov 28, 2011 3:40pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
I guess views and advice like these are not welcome by most, and blind signal following is the religion here.. so this is my last take on this matter - no more heretic posts
There is no rules that say you MUST be in the market just because the market is alive.....if there is any doubt, sit it out!
Keke has the perfect answer today that she was unsure of the market because of the gap, so she sat it out.....even though there was a big bull run, she wasn't sure so she sat it out. That takes discipline, common sense, great money management. This is the best example of discipline that you will see.
All of you remember this.......keeping your money in your pocket is ALSO a position, just the same as a buy and a sell is a position. Protect your capital......take only the high probability trades. If you trade with the trend, you will be much more likely to succeed that if you counter trend trade......that counter trend trading will eat your capital very quickly and it's just not worth it.
If you have a look in my profile you will see the name and author of my favorite book. It's available from Amazon and it's very cheap. I have had this book for years, and I still read it cover to cover at least 4 times a year. It's written by a guy who started off just like you and I......and he lost thousands of dollars. Eventually he climbed back and became quite wealthy.....this is his story. There is lot's of helpful stuff in there, but the most valuable lessons are (for me) how to spot the high probability trades and how to keep your capital safe. Buy the book.....it will be one of the best things you can do.
Anyway......enough from me.....it's coffee time
RJ
Doing what you like is Freedom. Liking what you do is Happiness.
- #3,136
- Nov 28, 2011 3:49pm Nov 28, 2011 3:49pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
"Price Action" system is wonderful than any other indicator based system there is no doubt . But the problem is have to read a lot, have to learn a lot, have to trial a lot, have to gain hope lot....
But i love "simple system" which can only possible with indicator based system. yes indicator based system works when there is trend and kills in side ways. Am working on this how to intervent the Price Action statergies...
This system is a good system, and you should be able to make money without knowing too much more than following the system. Having said that, you will do much better if you understand how the markets work, and as you say, this takes time......and there are no short cuts!!
After all, buying a set of the best tools in the world won't make you into an expert mechanic over night.......you will still be a noobie wannabe mechanic, with the best set of tools!! We are competing against some of the best trained and skilled traders in the world......and they trade BIG for the big banks and corporations all over the world. They have been coached and mentored to become the best. Who are we to think that we can compete by downloading a system and jumping right on it?!?!?!
If we are careful, we can compete in a small and humble way. 5 years from now, you will either have quit and are doing something else, or you'll be getting the hang of this business.
I am at the stage where I'm getting the hang of it, but there's still a long way for me to go.
RJ
Doing what you like is Freedom. Liking what you do is Happiness.
- #3,137
- Nov 28, 2011 3:52pm Nov 28, 2011 3:52pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Its ok. At least now i know, the system is reliable even if there is a gap in the market. : ) Some of the trades that i may have taken are in the screenshots.
Will look for opportunity tomorrow, unless some very obvious trade props up during US session.
If not i will be off to Twilight: Breaking Dawn. keke
Doing what you like is Freedom. Liking what you do is Happiness.
was that silly me, yelling here about some uptrend few hours ago? yoyo rules. and yes, i have to admit the system follows the yoyo with grace
took few trades @ 3min charts, nice in slow market. 10min is nice too!
most of you will know how to setup such a chart.. if not, here you go:
took few trades @ 3min charts, nice in slow market. 10min is nice too!
most of you will know how to setup such a chart.. if not, here you go:
- Open a fresh M1 chart with the pair you want to trade
- Attach the indicator below to that M1 chart
- Set the PeriodMultiplier to 3 (or 10.. any number of minutes to make a candle)
- Minimize the M1 chart but don't close it
- Go to menu (File->Open Offline) and select your newly created chart (example: EURUSD, M3)
- Apply your Symphonie template to the offline chart and you can trade
the chart will update in realtime as long as you keep the M1 open.
sold eu, au, cable, everything closed within 20 minutes, bedtime!
hope all of you non-sleepers caught some too.
had two losers today - both my fault.
winners overload, slowly getting the hang of it.
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