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  • #3,161
  • Edited 12:52am Jan 26, 2012 12:33am | Edited 12:52am
Quoting SmokeyD
[color=Blue][size=3][font=Lucida Sans Unicode]Extremely well conveyed LL !!

Whether you believe in the "Power of Attraction" or not, take just 10 min. to replay you most recent bad trading day...what dominated your thoughts...were you tired, moody, angry...etc.

I have been all over the map with Forex, and I still occasionally trade when I know I shouldn't...and the results are reflective...your mind HAS to be in the game.

I'm no philosopher, but I strongly suggest you try your best to be mentally ready (positive) for your trading session.

Again...some...
Hey there SmokeyD
I was just wondering where you dissapeared to the other day.
I thought you made your millions and didnt want to socialize with us struggling traders anymore.

LOL welcome back, did you enjoy your holidays?
Now only snarlyjack is missing. Where is he?
X-man the legendary conqueror of markets
  • #3,162
  • Jan 26, 2012 12:39am Jan 26, 2012 12:39am
Quoting Chuckyisback
Great job Erebus.

Time thingy gone... I even remembered to save the template

Do you know of an indicator that I can use to give "time to new bar" by chance ?

Cheers
Sure, only the very best found right here on FF, I could post it here, but you are better off at least reading about it in Post #1

New very cool CandleTime and session time Clock indicators

It takes a lot for me to IGNORE you, but you can try.
  • #3,163
  • Jan 26, 2012 12:48am Jan 26, 2012 12:48am

People get exactly what they want out of the markets. Most people are afraid of success or failure. As a result, they tend to resist change and continue to follow their natural biases and lose in the markets. When you get rid of the fear, you tend to get rid of the biases ~ Van K. Tharp, Ph.D.

X-man the legendary conqueror of markets
  • #3,164
  • Jan 26, 2012 12:57am Jan 26, 2012 12:57am
Quoting Erebus
Sure, only the very best found right here on FF, I could post it here, but you are better off at least reading about it in Post #1

New very cool CandleTime and session time Clock indicators


Wow... you're right. Amazing stuff.

Thanks again
  • #3,165
  • Jan 26, 2012 1:32am Jan 26, 2012 1:32am
Hi,
Just looking at my chart now, how do trade the coming London session?
I am asking myself,
> after last night post FOMC rally of 190pips, where will all the buyers place their protective stops?

> Do I want to chase market when London session opens?

> I am bullish bias and I want a better price for entry.

> where is the most recent support and resistance?

I must wait until the market show me what to do.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD H1 26 Jan 2012 setup.gif Size: 39 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,166
  • Jan 26, 2012 1:44am Jan 26, 2012 1:44am
Quoting emmanuel7788
Hi,
Just looking at my chart now, how do trade the coming London session?
I am asking myself,
> after last night post FOMC rally of 190pips, where will all the buyers place their protective stops?

> Do I want to chase market when London session opens?

> I am bullish bias and I want a better price for entry.

> where is the most recent support and resistance?

I must wait until the market show me what to do.
I was having a look at the same thing. I also think that PA will retrace to the support which is between 38% to 50% retracement level. From current price it will give us around 50pips. We will wait and see what happens
X-man the legendary conqueror of markets
  • #3,167
  • Edited 1:59am Jan 26, 2012 1:46am | Edited 1:59am
How would you interpret the last candle and the current candle ( not closed yet) with TDI crossing down using the H1 EU method? I am considering a short trade. Thanks in advance.
Trading can't be taught but it can be learned
  • #3,168
  • Jan 26, 2012 1:50am Jan 26, 2012 1:50am
Quoting Pipsninja
How would you interpret the last candle and the current candle ( not closed yet) with TDI crossing down using the H1 EU method? I am considering a short trade.
what I see is a fractal high.

I shorted at 1.3112, looking for some pips in the corrective move, maybe 40~50pips, small risk 20pips.

But this is not S3 method!

For S3, wait for LO.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,169
  • Jan 26, 2012 3:03am Jan 26, 2012 3:03am
So I went long pretty much at the London open about an hour ago, now sweating, watching my loss grow!

Was impatient, should have waited for the break above resistance, attached is what the chart looked like when I bought in.

My stop loss is 37 pips, slightly below the support set by the Asian session.

Learn from my foolishness!
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-01-26 16 25 20.png Size: 25 KB
  • #3,170
  • Jan 26, 2012 3:23am Jan 26, 2012 3:23am
Quoting geoffl
So I went long pretty much at the London open about an hour ago, now sweating, watching my loss grow!

Was impatient, should have waited for the break above resistance, attached is what the chart looked like when I bought in.

My stop loss is 37 pips, slightly below the support set by the Asian session.

Learn from my foolishness!
It is a mind game now.
Some new buyers rush in, price move up a little.
Old buyers take profit, price pushed down little.
Same repeats ....again and again...
All brokers collects data of where are all the limit and stops orders....
wait until enough ... big players come in and move the market.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,171
  • Jan 26, 2012 3:58am Jan 26, 2012 3:58am
Quoting geoffl
So I went long pretty much at the London open about an hour ago, now sweating, watching my loss grow!

Was impatient, should have waited for the break above resistance, attached is what the chart looked like when I bought in.

My stop loss is 37 pips, slightly below the support set by the Asian session.

Learn from my foolishness!
Ok, got lucky here, took profit at 43 pips, was too nervy to wait to see whether 50 pips hit, attached is how the chart looked when I ran!

Do not follow my example, I waited for no confirmation signal to go long, just a gut feeling that the USD is going down in the short term, the AUDUSD pair had a very strong run today, and that is what influenced my decision on going long in EURUSD as I felt I had missed the long earlier today on the AUDUSD.

Again, not a recommended strategy, and certainly, nothing to do with this system or Technical Analysis!
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-01-26 17 55 01.png Size: 27 KB
  • #3,172
  • Jan 26, 2012 4:05am Jan 26, 2012 4:05am
Quoting geoffl
Ok, got lucky here, took profit at 43 pips, was too nervy to wait to see whether 50 pips hit, attached is how the chart looked when I ran!

Do not follow my example, I waited for no confirmation signal to go long, just a gut feeling that the USD is going down in the short term, the AUDUSD pair had a very strong run today, and that is what influenced my decision on going long in EURUSD as I felt I had missed the long earlier today on the AUDUSD.

Again, not a recommended strategy, and certainly, nothing to do with this system or Technical Analysis!...
Congrats Geoffl,

Today I lost 20pips, took the risk early. But market did not retrace.

Now back to waiting.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,173
  • Jan 26, 2012 4:30am Jan 26, 2012 4:30am
I went short my SL was hit for 30 pips.
Waiting for next set up
Attached Image (click to enlarge)
Click to Enlarge Name: today.jpg Size: 118 KB
X-man the legendary conqueror of markets
  • #3,174
  • Jan 26, 2012 4:34am Jan 26, 2012 4:34am
Quoting X-Man
I went short my SL was hit for 30 pips.
Waiting for next set up
hi x-man! did you go short at the end of first or second red candle? went short myself.

tonny
  • #3,175
  • Jan 26, 2012 4:42am Jan 26, 2012 4:42am
Quoting tonny47
hi x-man! did you go short at the end of first or second red candle? went short myself.

tonny
I went short almost half way through the second red candle.
TDI was high up at 68 and crossed down as well.
The candle formation showed bearish but you can never predict what PA will do next. You just got to stick to your trade plan.
X-man the legendary conqueror of markets
  • #3,176
  • Jan 26, 2012 5:54am Jan 26, 2012 5:54am
Hi I consider myself fortunate today, as I could easily have lost 30 Pips.
There had been support all day around 130.90 Level. Thats why I put entry just under. If I wasnt scalping I would of needed to Close under Support. On those MISS trades, I have shown you where I would of Entered, for perusal, but it was around 5am my time. I was asleep well and truly.
Forexsaurus, dont beat yourself up it will only take you longer to overcome the psychological aspects that every trader has to overcome. This at least might help visually. Compress the Chart like the attached Chart and try not to Micromanage every Candle. just be sure you can see the Open and Close, And then look for the good Setups that you see when backtesting, Looking at charts from a distance I have found seems to cut out a lot of noise and emotional distractions. So be patient look for set up and wait for X-Mans rev Candle then strike. Use Micro lots if you have to. Geoffl not trying to be Critical but your heading down a Slippery Slope in Trading, as it seems you have no Structure or Trading Plan. You stated that "Again not a Recommended Strategy and certainly nothing to do with this system, or Tech Analysis". Tweaking a great method like X-Mans is fine but Gut feeling is I have found more often to be "Wonderful with Experience, but was a Disaster waiting to happen with Hindsight". Good Luck


9 Years and Still Learning
Attached Image (click to enlarge)
Click to Enlarge Name: eur 3.gif Size: 27 KB
  • #3,177
  • Jan 26, 2012 6:05am Jan 26, 2012 6:05am
This is why I love this Guy. Confidence never sways, because he believes in his Method. Just had a minor kick in the Butt, Explained his reasons why he took the trade, why it probably failed, and has now moved on.

But let us not forget.

X-Man the Legendary conqueror of markets
  • #3,178
  • Jan 26, 2012 6:44am Jan 26, 2012 6:44am
Quoting Steve 56
This is why I love this Guy. Confidence never sways, because he believes in his Method. Just had a minor kick in the Butt, Explained his reasons why he took the trade, why it probably failed, and has now moved on.

But let us not forget.

X-Man the Legendary conqueror of markets
LOL Steve im glad you like my signature

Its true that my confidence never sways.
Give me 10 years and you going to see the forex historians write about X-Man. Theres going to be tons of books talking about how he conquered the markets
X-man the legendary conqueror of markets
  • #3,179
  • Jan 26, 2012 6:47am Jan 26, 2012 6:47am
EUR Top is Where Now?

Posted by Dean Popplewell at 6:26 am UTC, 01/26/2012

The market sure did not see this one coming from the Fed. An “unambiguous and aggressive” statement from US policy makers is certainly laying the groundworks for QE3. With unemployment elevated and inflation subdued, Helicopter Ben can certainly put this option back on the table. The Fed has set a long term inflation target of +2%, a level they expect to fall short of this year and next. Despite the US economy appearing to be picking up steam in manufacturing, housing and employment, the goto excuse for Central Bankers, Europe and its debt laden outliers, is allowing the Fed to prepare for a third round of large-scale asset purchases.
The Fed’s extended commitment to low dollar funding costs is broadly bearish for the USD and bullish for higher-yielding G10 and EM currencies. The risk addicts are getting what they want. CAD at parity, AUD at new yearly highs, Kiwi, Mexico and other growth currencies following suite. The dollars demise has “emerging” Cbankers intervening to stem the speed of domestic appreciation and other G10 just worried for now about their appreciation. The Fixed Income dealers are taking the middle of the US yield curve sharply lower as pricing for policy tightening gets pushed back further into the future.
With the market lapping up this risk, it is intensifying the EUR bear squeeze. For now, the short positions have some of the crosses working in their favor. USD/CHF sales continue to weigh on the cross, with EUR/CHF being sold to session lows in Europe. There has been rumors of SNB interest in the mid 1.20’s over the last couple of sessions as the cross gravitates towards that Central Bank floor barrier.
An 18-month ‘exceptionally’ low yield extension will obviously take some time to price in, a job certainly not made any easier by EUR record shorts, weak shorts and a plethora of new hopeful position taking, the type who are trying to find the ideal speculative EUR top ahead of the record periphery debt issues this quarter. At such lofty heights, how much more to the top if private lenders accept a lower Greek coupon deal?
US firmer data bodes well for risk. Analysts expect a strong headline print from US durable goods this morning (+2.5%, m/m on the headline), new home sales to have reached a new yearly high and jobless claims to have risen in line with consensus. No one can argue that a dovish Fed, coupled with strong data will help risk and trigger more weak EUR stops and option barriers. Wait until the world stops spinning and pick your levels!
X-man the legendary conqueror of markets
  • #3,180
  • Jan 26, 2012 6:54am Jan 26, 2012 6:54am
Quoting X-Man
I went short my SL was hit for 30 pips.
Waiting for next set up
same here, but now its time to go to work
good luck with the ny session everyone!!
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