seem like market is searching for the direction now..
Dislikedwe always told that we need to avoid take a trade when there is a big news. but how long that we need to wait until we can take a trade again? is it 10 minutes after news or?Ignored
DislikedAfter the ECB LTRO news I've seen price move from -20 to +20 and viceversa in a blink of an eye, it was amusing.I'm short anyway with 50/50 TP/SL.
Btw X-Man, can you answer my post from yesterday regarding PA?
Dislikedgive me the post number and i will have a look at it.
Thanks, its important for me to have a sample of your PA assesing styles and tendencies.What counts more and what less, in a AveragePriceBar chart environment.
A Phx answer would be wonderful too.Ignored
On H4 I see that the price is in uptrend (above EMA200, and EMA60) and so the short move is a countertrend move. I want to trade with the trend, so I think, that the marked (blue rectangle) area is a demand area and the price will bounce from it and make a move in the direction of the trend. Moreover the TDI is outside of the blue line and if it is turning back giving a long TDI cross I will consider it a valid entry setup.
Am I wrong or is it just a different approach?Ignored
Can you tell us a bit about your style of assesing PA?Just to pinpoint, a summary of what you look for.
I'm pretty sure some people here, if not many, are pretty dizzy with this term and they want to know more about it from you and X-Man when trading a system that uses average price bars and not classic japanese candlesticks.
Do you use japanese candlesticks at all when assesing PA(I do, I have a chart open with E/U H1 japanese candlesticks and look there for classical candle formations for more confirmation) ?
DislikedThis is very simple. i put all the basic knowledge that i attained form babypips and use it.
I look for these in PA :
-wave patterns (higher lows , lower highs) (123 patterns)
-I use fibb tool from high to low when theres lower highs and low to high when i see higher lows.
on babypips they explain each thing seperately but we mus combine that knowledge. All these has become second nature to me
First, I really like your name. It well describes your character of generosity and humility. Your play of words can only come from a well experienced, knowledgeable and seasoned trader.
This thread has become an invaluable resource for each and every trader of all size because of contributors like you.
Thanks for the advise about Daniel Coyle's book. I bet it's a good read.
BTW, did you become a full time trader by choice or by necessity?
Would you actually recommend to one, who's thinking of leaving his day job to become...Ignored
Thanks for your kind words and bouquet.
I decided to become a full-time investor and trader when I got tired of my corporate job more than 4 years ago. So I fired my employer.
A job will pay your bills and maybe make you rich. Only investments/trading will make you wealthy.
[color=black][color=black]Taking a leap into becoming a fulltime trader is a big decision. There...Ignored
DislikedIs it possible to get anyones thoughts on, should i take my profits i have on G/U before NewYork open?
Anyones views appreciated! thanks, robIgnored
DislikedAlthough it is a pullback, but the strength is not continuous. Probably just because of the 60MA support for the bounce.Ignored