EurAnalysis

Daily Swing EU Pair Since 2010-2011 end

..ok..now pls explain...why the fib u dragged from the Top not ended in the bottom of the lowest candle ..why the line is shifted to somewhere i can not see the end?

I know I was being picky but that is ridiculously picky.

your right, i agree with you thats why i dont use fibs.they do have merit though. But when you mention Range thats a different story get your calculations right and hey presto. my mate trades spikes mainly big movers like silver ,wall street he puts entry point x amount of pips from current level checks out the adr then waits, and he is very wealthy. me on the other hand do not like this way lol.

Daily Swing UJ pairs 2010-2012 end

ADR? is that the same as Average Displacement Range (i thought i came up with that lol)

when measuring Ranges i measure
ATR=average true range
ALR= average low range
AHR=average high range
ADR=average displacement range

or is ADR something different?

Sorry for not being clear enough ... I am just wondering about the red dotted line of mine and in your case the silver one ...

Generally when we take the high and Low ... the dotted line starts from the candle high and then we meet this with the Candle low for the time frame ... as the present picture shows ... it meets to the candle low ...

So that was my question, is there any particular reason that the yours did not meet at the end?

yes tyoon i managed to zoom into your chart. my mouse was sticking. and with referance to my mate in the last post, he says that is the easiest and best way to trade because every trend starts like that, like a rain drop up a mountain turning into stream then river mississippi , amazon etc

adr = average daily range. its normally calculated off the past 20 days. the arguement against it is where does it start lol but if you got a chart you can see past high/lows and it helps to see where the pair is going. Once i got a trade going if it looks like going to high or low of current range i will let it run

Right I see what you saying. That line does not matter where it is place along the time axis, it only matters where it is placed on the price axis. As long as the 0% is at bottom and 100% is at the top that is all that matters.

Here I placed it on the wick and on the other placed it far away far away (on time axis). It makes no difference.

..

44278792EUR/USD100,00012/30/11 9:30 AM1.29581 Mktfxr1142091001 12/30/11 2:40 PM 1.29600-19.000.000.000.00-19.00Cfxr114209100144279828EUR/USD100,00012/30/11 9:58 AM1.29767 Mktfxr1142091001 12/30/11 10:18 AM 1.2971849.000.000.000.0049.00Cfxr114209100144280658EUR/USD100,00012/30/11 10:33 AM1.29761 Mktfxr1142091001 12/30/11 2:21 PM 1.29508253.000.000.000.00253.00Lfxr114209100144281486EUR/USD100,00012/30/11 10:57 AM1.29948 Mktfxr1142091001 12/30/11 10:58 AM 1.29805143.000.000.000.00143.00Cfxr114209100144281660EUR/USD100,00012/30/11 11:00 AM1.29855 Mktfxr1142091001 12/30/11 12:59 PM 1.29607248.000.000.000.00248.00Lfxr114209100144282115EUR/USD100,00012/30/11 11:10 AM1.29877 Mktfxr1142091001 12/30/11 12:38 PM 1.29624253.000.000.000.00253.00Lfxr1142091001Total:927.000.000.000.00927.00 Posted at statement period of time:927.000.000.000.00

I am going to post after this one to explain what happened and what I intend ro say.

It could be there is some magic and mystical power in the fib. OR there could be the human tendency to look at the 50% point in all things, and if that doesn't seem right they add or subtract about another 10%. This yields 40%, 50% and 60% as the key reversal points. And since I am a sloppy human (and not a snail shell) I think 40% is absolutely close enough to 38.2% as to make little or no difference.

I had written my thoughts and after I copied and pasted the results of 6 demo trades I made yesterday the text part disappeared.

I shall start over now.

The last number of posts were on material that is technical in nature. I surely use technicals with my trading to see support and resistance and to get an overview of what levels technical traders are looking at. If most people know that resistance is at 1.3000 for EUR/USD then when it breaks 1.3000 there will be a change of perception on where EUR/USD is going.

That perception might be right or wrong short term or long term.

I trade currencies to earn my living and the only thing that I am interested in for my bottom line is to reach my monthly profit goals.

I have to believe that everyone here trades to make money from forex trading.

Therefore that should be the goal.

I would like to explain how I was able to generate profits of $927.00 on 6 trades using technicals however in a different way than most here.

With the start of a new year hopefully everyone here will start to make better consistent profits.

The important thing to take away from my post is not to take it personal. This is about myself and my way of trading that gives me a monthly profit.

My way of trading is not possible for all trader's however there are parts of it especially for technical traders that can help them improve their results.

I have only one aim and agenda in posting this and that is to share my knowledge and experience here in order to focus my own thoughts and hopefully help some of you earn money while you trade.

Now on to how using technicals along with trading experience can help to improve your results.

When I trade which is every day of my life whether a trade is on or I wait for a trade opportunity I always trade a demo account in order to show interested parties matters involving forex trading. This particular demo account with FXCM UK was started on May 2, 2011.

The opening balance was $50,000 US and the balance today with all positions closed is now $87,207.20 US.

My last 6 trades generated $927.00 in profits. My target is 1/2 % a trading day.

Now I will explain the nature of each of the six trades in order to share my thinking at the time that I did my trades.

On December 30, 2011 at 9:30 AM at Market Open I shorted EUR/USD at 1.29581 and closed it at 2:40 PM for a small loss of $19.00.

At 9:58 AM I put on a second trade at 1.29767 and closed it at 10:18 for a profit of $49.00.

At 10:33 AM I put on a third trade at 1.29761 and closed it at 2:21 PM for a profit of $253.00.

At 10:57 AM I put on a fourth trade at 1.29948 and closed it at 10:58 AM for a profit of $143.00.

At 11:00 AM I put on a fifth trade at 1.29855 and closed it at 12:59 PM for a profit of $248.00.

At 11:10 AM I put on a sixth trade at 1.29877 and closed it at 12:38 PM for a profit of $253.00.

Six trades, One loss of $19.00 and Five wins and a Net Profit of $927.00.

The only technicals I used was my 15 minute chart and my CALLED RESISTANCE of 1.3000

I did the first trade at the Market open and as the Dow moved up early EUR/USD moved up. I had a drawdown on this ONE position of MAXIMUM 42 PIPS (1.3000)

I put on my second position at 9:58 AM just before Option Expiry.

Once I saw the behaviour I decide to take a quick profit of $49.00 and I was out in one minute.

At 10:33 AM, I put on my second open position at 1.29761 always keeping in mind my SET MIND RESISTANCE at round number 1.3000.

At 10:57 AM when EUR/USD was at 1.29948 I put on my third open position and closed it at 10:58 AM for a QUICK PROFIT of $143.00 in just ONE MINUTE.

I then put on my third open position at 11:00 AM at 1.29855 and left it on until 12:59 PM when I closed it for a profit of $248.00 once Europe was no longer affecting the market and the Dow was in negative territory.

I had a GOOD FEELING so my TRADE PLAN was to put on another position of EUR/USD using capital of $800.00 US Dollars at 11:10 AM at 1.29877 which I closed at 12:38 PM for a profit of $253.00

I have shown my reasons for my trades. I had a TRADE PLAN.

I used technicals as well as trade experience to create the profits.

On a $50,000 US Dollars account $927.00 is 2% and on $87,207.20 US it is about 1% plus.

Keep it simple. Use a Trade Plan. Do not be afraid to take profits and close positions with a small loss.

I really hope this post might help some of you.

Happy New Year Everyone

Cheers for that kno. A few nuggets in there.


Sorry Rekon I don't mean to be picking on you today, I do have respect for you. However, I don't want this statement to stand for all us learners here who use technical analysis. I have strong reasons for why I primarily use technicals and not one of those reasons is a compensation for a lack of fundamental understanding.

Seriously cool chart

.....

Didn't he say earlier he was spending the weekend studying.


Must have been studying the bottom of the whisky bottle

HAPPY NEW YEAR TO ALL.MAY THIS YEAR BRINGS SUCCESS FOR EVERYONE ON THIS THREAD
http://www.youtube.com/watch?v=hwL6b...layer_embedded

Happy new year to everyone, keep marching on like a moth to a distant star and don't put your head down at difficult times. With sweat and tears march on to fulfill your dreams.

Happy new year , may this one be more prosperous than the previous, all the best to life, health, success, trading and each of your own families! dont chase dreams, MAke it happen!

Take care everyone!