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  • #583,881
  • Jan 13, 2012 10:49am Jan 13, 2012 10:49am
Great book for a little weekend reading

Only 99 cents on Kindle for PC

Markets change but, people don't.


http://www.amazon.com/gp/product/B00...w_myk_ro_title
  • #583,882
  • Jan 13, 2012 10:52am Jan 13, 2012 10:52am
Quoting MaxDoom
So far a 23.6% retrace so I am looking to add another short when it makes a new 2-bar high at the close of the 5th bar on M5.

should be low risk as:

1. with trend
2. corrections are normally 3 waves ABC
3. wave A often ends around 23.6%

Potential is between open price and 2623 if the correction is to continue otherwise lower as new lows are made.

Stop to BE after 25 pips.

Entered @ 2674
as per NN sl will be hit ; i can be wrong though
  • #583,883
  • Jan 13, 2012 10:53am Jan 13, 2012 10:53am
Quoting MaxDoom
updated the chart to show my stop

If you are taking this trade watch PA carefully if it fails the low break it means there is more correction (most likely outcome) so I would take profit towards the low
Passed through 23.6 upwards
  • #583,884
  • Jan 13, 2012 10:53am Jan 13, 2012 10:53am
Quoting hindustani
as per NN sl will be hit ; i can be wrong though
NN chart
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 15 KB
  • #583,885
  • Jan 13, 2012 10:56am Jan 13, 2012 10:56am
Quoting kbmoonshinex
my stop loss 26959
SL Hit
  • #583,886
  • Jan 13, 2012 10:59am Jan 13, 2012 10:59am
Quoting abinezer
SL Hit
5% earn money in forex, but loose it in over trading
  • #583,887
  • Jan 13, 2012 11:02am Jan 13, 2012 11:02am
Quoting hindustani
NN chart

What kind of a oscillator is that Hindustani ????? Rsi renamed as crowd....a.. or it's unique for u.

However it looks good.
Fools Rushing
  • #583,888
  • Jan 13, 2012 11:04am Jan 13, 2012 11:04am
Quoting torkay77
long too from 1.265..now Dixie can crash and Euro rally begin
okay moved my sl to be
  • #583,889
  • Jan 13, 2012 11:09am Jan 13, 2012 11:09am
Quoting abinezer
SL Hit
youp . and shorted again .
looking for investors . pm me
  • #583,890
  • Jan 13, 2012 11:13am Jan 13, 2012 11:13am
Quoting kbmoonshinex
youp . and shorted again .
it missed my sell order for a 0,3 pip foookers
___________________________________

before they spill mayhem...

Inserted Video
  • #583,891
  • Jan 13, 2012 11:16am Jan 13, 2012 11:16am
Quoting abinezer
SL Hit
My sl was fine.
  • #583,892
  • Jan 13, 2012 11:20am Jan 13, 2012 11:20am
Quoting MaxDoom
My sl was fine.
Yes, I noticed....However I took short again..
  • #583,893
  • Jan 13, 2012 11:20am Jan 13, 2012 11:20am
Quoting 21vs7
it missed my sell order for a 0,3 pip foookers
___________________________________

before they spill mayhem...
If my sl goes I can't reload taken daughter to swimming lessons
  • #583,894
  • Jan 13, 2012 11:24am Jan 13, 2012 11:24am
Quoting MaxDoom
If my sl goes I can't reload taken daughter to swimming lessons

Let the bear run then !!!
Fools Rushing
  • #583,895
  • Jan 13, 2012 11:25am Jan 13, 2012 11:25am
with the crazyness of the market my broker has charged me double the spreads......the bastards!
no wonder i got stopped out today
  • #583,896
  • Jan 13, 2012 11:26am Jan 13, 2012 11:26am
Quoting MaxDoom
If my sl goes I can't reload taken daughter to swimming lessons
i think you did great today so minimize sl and enjoy life! I have plans for the whole weekend also...just staying till I scale out jpy and then im off also.

Your daughter has also a female swimming teacher?
  • #583,897
  • Jan 13, 2012 11:35am Jan 13, 2012 11:35am
When USA was downgraded, gold went up strongly. If the S&P downgrades France, will gold soar again?
  • #583,898
  • Jan 13, 2012 11:38am Jan 13, 2012 11:38am
hindustani, Where can i find the indicators, oscilliator and template for that chart? Very interesting.. Thnx.. / Phil
  • #583,899
  • Jan 13, 2012 11:59am Jan 13, 2012 11:59am
Quoting 21vs7
i think you did great today so minimize sl and enjoy life! I have plans for the whole weekend also...just staying till I scale out jpy and then im off also.

Your daughter has also a female swimming teacher?
thanks m8

oh yes to the instructor
Attached Image
  • #583,900
  • Jan 13, 2012 12:08pm Jan 13, 2012 12:08pm
  •  Cosi
  • | Joined Jun 2011 | Status: Little girl on the way! Due April!! | 36 Posts
Just something for new traders to think about. Experienced traders will not find anything useful in this post. Take with a grain of salt.
I rarely comment on this forum but after seeing some of the comments last night from new traders I would like to offer some advice. I feel bad for those that miss good moves, enter at the wrong moment or that are happy with 20 pips when there is so much more out there to be had in any given day.
1. Don’t rush your trades (Take the time to see if the pair you are trading is giving you a signal in another currency) For example: I entered last night a EUR/USD short at 1.2865 as well as a AUD/USD short at 1.0350 (You can look @ a post I made a few days ago saying if it stalled between 1.0280-1.0300(AUD/USD) I would short, if not I would wait for better signal above .0320) Well it did not stall so I waited and entered above .0320 but only when both pairs gave me clues that it was time to be long U.S Dollar…. Back in late July (I had just joined this forum but had been trading for a living for years) I took a humble approach & commented on possible Aud/Usd short from 1.1070/80. Got a private message telling me I was nuts and to expect this to clip 1.13. Look at what happened from there so take any advice with a grain of salt…even mine!
2. Don’t rely too much on using just one indicator (use at least 3) and make sure you give each one a proper level of importance. (Sort of like a chain of command) For example: I see many that enter a trade based only on the candlestick pattern. I prefer to use a candle to confirm that my trade will be profitable rather than to enter a trade. How many entered a trade due to a candlestick & ignored that it would make a correction big enough to stop them out when other indicators hinted it would.
3. If a significant news event is expected keep in mind that it can and will violate all signals from indicators so in such cases use the longer time frames too see if it has room to go against you enough to stop you out. For example let’s say that you got an overbought or oversold signal on time frames from 4hrs and under but it has not breached overbought/oversold on longer time frames, this could go against you hard enough to stop you out so wait for confirmation from longer time frames (8hrs and up) and then see if the shorter time frames have aligned themselves to keep the move going or if it’s hinting at a reversal. (Use more than one currency to confirm)
4. Don’t panic! Trading on a live account is nothing like a Demo account. When real money is on the line it’s very easy to panic on a losing trade then close and reverse to lose even more. Markets make noise (the up and down moves on shorter time frames) so don’t panic and give up more money. Stop and see where you went wrong and learn to not repeat that mistake again. When you trade at $100 dollars and over per pip you will see how it’s so important to wait and plan rather than get stressed out of your mind.
5. Don’t just rely on trend lines you decided to draw on your chart. Too many think it will respect trend lines for longer than it’s possible. (Remember the noise can kill you) so unless you got lucky and entered at the perfect moment you could get killed.
6. Most important of all…. Do not let what I posted here change your trading style if it’s making you money. If you are not making money than go ahead and reevaluate your style but in no way is this intended to change your style, this is just a little bit of how I work. We can all make money using different trades (long or short) as long as we are disciplined enough to stick to our plan.

Use this forum to see how your Ideas are contradicted. Maybe someone is seeing something you are not. If everyone is seeing the same thing you are than how do you know you are correct if nobody is questioning your plan for X Y Z reasons.
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