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  • #581,321
  • Jan 8, 2012 8:21pm Jan 8, 2012 8:21pm
Quoting Arhs99
How does this help to make money?
This is how .
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The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #581,322
  • Edited 8:47pm Jan 8, 2012 8:22pm | Edited 8:47pm
Quoting Arhs99
How does this help to make money?
predication without black magic is fall into guessing game, otherwise why we use sl
Mohan
  • #581,323
  • Jan 8, 2012 8:24pm Jan 8, 2012 8:24pm
Quoting LaMaschera
Done.
Ty so much.

  • #581,324
  • Jan 8, 2012 8:30pm Jan 8, 2012 8:30pm
Quoting MidasFX
Never heard of a successful trader who guesses and hopes. You need to have an edge that puts the odds in your favor there is no guess work.
There is a first time for everything . You heard it now .

I am talking about life and the events that happens in life . Being a good trader and making money are just acts that you perform everyday but we dont know if we will be able to get the fruits of our acts or not . What will happen tom. ? no one knows . As a trader , I always have both ways prepared. North and south.
I can guess that it will go south and be ready to make an entry but if the tide changes, I am ready to make an entry to go north. and this is the only art of trading can make someone a successful trader. But then again , It is just my lousy opinion . What the heck I know .
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #581,325
  • Jan 8, 2012 8:56pm Jan 8, 2012 8:56pm
Quoting samdani786
Like you said . We can not predict anything . All we can do is guess and hope .
Yes, that is my view on things. But I would not guess or hope, I would be nimble.

We all tend to spend so much time at predicting (anxiety is kicking in, we need to find a reason of why we have entering that trade, that reason will justify our decision and that reason also will take us away from our responsibility), but when we enter a trade what we buying or selling is price, we do not buy or sell technical analysis, prediction or fundamentals, we buy/sell price.
Beauty awakens the soul to act. Dante Alighieri
  • #581,326
  • Jan 8, 2012 9:01pm Jan 8, 2012 9:01pm
Quoting MidasFX
Never heard of a successful trader who guesses and hopes. You need to have an edge that puts the odds in your favor there is no guess work.
I agree
Beauty awakens the soul to act. Dante Alighieri
  • #581,327
  • Jan 8, 2012 9:02pm Jan 8, 2012 9:02pm
Quoting samdani786
This is how .
But this is no guessing, that is you edge.
Beauty awakens the soul to act. Dante Alighieri
  • #581,328
  • Jan 8, 2012 9:07pm Jan 8, 2012 9:07pm
Quoting samdani786
There is a first time for everything . You heard it now .

I am talking about life and the events that happens in life . Being a good trader and making money are just acts that you perform everyday but we dont know if we will be able to get the fruits of our acts or not . What will happen tom. ? no one knows . As a trader , I always have both ways prepared. North and south.
I can guess that it will go south and be ready to make an entry but if the tide changes, I am ready to make an entry to go north. and this is the only art of trading can...
Yes, you are right we do not know if we going to eat the fruit and going the opposite way is a sign to be nimble, essential in trading.
Your opinion is very valuable to the community
Beauty awakens the soul to act. Dante Alighieri
  • #581,329
  • Jan 8, 2012 9:18pm Jan 8, 2012 9:18pm
Waiting for some confirmation but I'm thinking of going long with a tight stop below session lows. Would give me something like a 1:1 ratio for the first TP. I'm still on the fence about this trade though. The trend on my charts is clearly down, but we have ventured aways from my moving averages. May just take a small position once I get my confirmation.

These are derived from S/R pivot levels.

Stops below 1.2670
Target 1.2730 or above.

any one have any input on the trade ?
  • #581,330
  • Jan 8, 2012 9:26pm Jan 8, 2012 9:26pm
Quoting MidasFX
Waiting for some confirmation but I'm thinking of going long with a tight stop below session lows. Would give me something like a 1:1 ratio for the first TP. I'm still on the fence about this trade though. The trend on my charts is clearly down, but we have ventured aways from my moving averages. May just take a small position once I get my confirmation.

These are derived from S/R pivot levels.

Stops below 1.2670
Target 1.2730 or above.

any one have any input on the trade ?
I see a possible restest of 2725-2750 but will it be before a reaction from 2610 swing remains to be seen.
  • #581,331
  • Jan 8, 2012 9:33pm Jan 8, 2012 9:33pm
Here is a simple trade setup to see what I'm looking at.



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  • #581,332
  • Jan 8, 2012 9:47pm Jan 8, 2012 9:47pm
Quoting LaMaschera
But this is no guessing, that is you edge.
Right now there are millions of traders and banks and hedge funds are long yet there are millions of them short too. Who got the edge.? who is right and who is wrong. ? No one knows . What will actually happen tonight . Are we gonna touch 2500 or will bounce from here. ? No one knows for sure. Millions will make money by tomorrow afternoon and millions will loose too. Why ? Because they make up their minds that it will go north based on their fundies or tech. and some says no it will go south . Trading is all about " If - then " game. Look at the chart I have . I am always prepare for both sides but guessing the direction based on my tech.or news. If it goes the other way then i switch the side if certain condition are met and that happens more then often. The predictions of traders from goldman are more wrong then right . There is a trader in FF and I remember his saying that " REACTION AND NOT PREDICTION. Even in life, being prepared for the worse is what save you. We can do the hard work but can never control the results. Just wanted to express myself but hey I know that the person thinks he knows something , knows nothing .
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The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #581,333
  • Jan 8, 2012 9:52pm Jan 8, 2012 9:52pm
[quote=MidasFX;5277436]Here is a simple trade setup to see what I'm looking at.

I like the simplicity, here's a different view.
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  • #581,334
  • Edited 10:46pm Jan 8, 2012 9:55pm | Edited 10:46pm
Quoting MidasFX
Here is a simple trade setup to see what I'm looking at.



Attachment
I found difficult to trade the 15m, so I would go down to 5m. I would not try to think were she is going to go, instead I would dance considering the two lines.

I would look at each candle from start to finish and try to feel, the last 20 seconds of each candle would be taken in consideration.

I would trade the range, I would trade the break out, I would trade the fail break out and would also trade the failure of the fail break out..

Of course the candle that bounces/breaks/fail break/failure fail break is very much taken in consideration to make my decision to enter.

I say I would but I am not because I trade differently, but I use to trade this way and sometime I still do when I feel/need some action.
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Beauty awakens the soul to act. Dante Alighieri
  • #581,335
  • Jan 8, 2012 10:16pm Jan 8, 2012 10:16pm
Quoting samdani786
Right now there are millions of traders and banks and hedge funds are long yet there are millions of them short too. Who got the edge.? who is right and who is wrong. ? No one knows . What will actually happen tonight . Are we gonna touch 2500 or will bounce from here. ? No one knows for sure. Millions will make money by tomorrow afternoon and millions will loose too. Why ? Because they make up their minds that it will go north based on their fundies or tech. and some says no it will go south . Trading is all about " If - then " game. Look at...
Your post always make sense to me. I am also with you. The harmonic patterns that you use are based on price and price action when the potential reversal zone is reached. That is an edge in the pure form.
The fact that you also take advantages of the failed pattern to me show that you have increased your ability to trade.
Express oneself is good, shows that you have marbles.
To know that the person that thinks he knows, knows nothing is also a edge, puts you in a better position to be able to act accordingly.

But then again , It is just my lousy opinion . What the heck I know .
Beauty awakens the soul to act. Dante Alighieri
  • #581,336
  • Jan 8, 2012 10:17pm Jan 8, 2012 10:17pm
For all the many years I have traded one thing I could never understand is why a trader would risk trading against the trend. For many years I have taught new traders one very vital thing. It matters not if the trades are up or down - what does matter is trading the moment. Who cares what happened a minute ago or what will happen a minute from now. What does matter is what is happening in the moment. Learning to trade the trend and I teach this with a very serious attitude because trading the trend you never, never become a loser. You always win trading in the trend.

This trend began the first day of September. In October it hit a heavy support and bounced back to the resistance at the 4216. In November it took off again into the trend and has been there ever since. There is another support at the 2600 - but it is a very weak support and from there is nothing to stop it from hitting the low of this trend at the 1877.

When I do train I take on new traders because they are not condition in believing what is not true. And they learn how to trade in the moment - and once they are condition in trading with the moment they then are 100% in all their trades. They never loose. And they trade taking 40+ pips daily compounding their trades which makes them very wealthy.

My point is - if you do not learn to trade in the moment then you will continue to struggle in trying to capitalize on a dream.
The Dove - Forex Trainer
  • #581,337
  • Jan 8, 2012 10:31pm Jan 8, 2012 10:31pm
Quoting LaMaschera
Your post always make sense to me. I am also with you. The harmonic patterns that you use are based on price and price action when the potential reversal zone is reached. That is an edge in the pure form.
The fact that you also take advantages of the failed pattern to me show that you have increased your ability to trade.
Express oneself is good, shows that you have marbles.
To know that the person that thinks he knows, knows nothing is also a edge, puts you in a better position to be able to act accordingly.

But then again , It is just my...
we need to focus on making pips and what the heck with everything else .from north, it is 6 and from south, it is 9. Nothing worth trading until London open so i am off to bed .
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #581,338
  • Jan 8, 2012 10:34pm Jan 8, 2012 10:34pm
Quoting samdani786
we need to focus on making pips and what the heck with everything else .from north, it is 6 and from south, it is 9. Nothing worth trading until London open so i am off to bed .
Have a nice sleep.
Beauty awakens the soul to act. Dante Alighieri
  • #581,339
  • Jan 8, 2012 10:40pm Jan 8, 2012 10:40pm
Quoting dove_alliance

My point is - if you do not learn to trade in the moment then you will continue to struggle in trying to capitalize on a dream.
Yes I completely agree with you for this part. But I honestly dont care about euro at 1.4 or 1.18, those numbers are not even on my 15m charts. I trade what I am looking at right now, and normally only hold my trades for a very short time.

As for trading the trend. Every trader has heard that saying a million times. But what people fail to explain is a few things. ( which I am sure you would have taught to your students) As most traders found out the hard way, jumping into a trend at the wrong time is a bad trade. Specially if you don't allow the price action to breath , without hitting your stop or MC.


The basis of my break out trades take my tf's trend into consideration. Consolidation is consolidation no matter what the history was, and a breakout is a breakout, no matter which way it goes. Most of the time, it will continue the trend. Yes. but knowing, your trade is against the trend, you should be more cautious. like taking a smaller position, and being more attentive to your targets/stops.

  • #581,340
  • Jan 8, 2012 10:52pm Jan 8, 2012 10:52pm
Quoting MidasFX
Yes I completely agree with you for this part. But I honestly dont care about euro at 1.4 or 1.18, those numbers are not even on my 15m charts. I trade what I am looking at right now, and normally only hold my trades for a very short time.

As for trading the trend. Every trader has heard that saying a million times. But what people fail to explain is a few things. ( which I am sure you would have taught to your students) As most traders found out the hard way, jumping into a trend at the wrong time is a bad trade. Specially if you don't allow...
The reason those numbers are not on your 15 minute TF because it is not there. I do not use any chart below a 30 (which I use for conformation) and my trading charts are 1 and 2 hour charts. Anything below a 30 chart are scalping charts and they give you nothing but heart aches when you get caught.

But I agree when consolidation is consolidation - but a true consolidation does not show up until the 1 hour gives the signal.

Using the right upper TF's give out more information then those lower chart do - and that is a fact.
The Dove - Forex Trainer
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