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Learn to Swim

  • #1
  • First Post: Edited Sep 12, 2012 1:05pm Aug 10, 2012 8:05pm | Edited Sep 12, 2012 1:05pm
I will post a chart from time to time, perhaps showing what I am anticipating. I don't feel the need to make trade calls, I do like to keep things fairly simple. I welcome everyone and I consider all of you a friend. Please be courteous to thy fellow trader, everyone has something to contribute. Now let's get started.
  • #2
  • Aug 10, 2012 8:09pm Aug 10, 2012 8:09pm
This has been my instrument of choice lately. No reason, just a nice chart. This was my working chart until I closed my trade today. I've been more prone to shorts, no reason-maybe because I am a glass half empty guy. lol
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  • #3
  • Aug 10, 2012 8:25pm Aug 10, 2012 8:25pm
I use limit orders. I often build positions.

I analyze a chart, work it up and wait, if I see something develop I may place a limit order....then I walk away or go to sleep or ride my fuji trail bike etc. I don't concern myself with being glued to the screen anymore than I have to be. I like the 4hr charts, it just feels right to me.....some of you may prefer the 1 hr or a daily chart....maybe even a 30min. To each his own.
  • #4
  • Edited 9:59pm Aug 10, 2012 8:38pm | Edited 9:59pm
I'm not perfect by any means, many of you know me by now. I'm not too happy with my last trade, it's ugly but I missed all the angst because I was away when price reversed.....thing is-price cycles and patience is needed (if I don't have it I distract myself).

Now I closed this today because of the price action and because my chart told me to. The 1.5595 area held as support....buyers were there. Not to mention it was Friday. lol I don't have a problem leaving trades open over weekends or for weeks at a time. Just saying.

The Ugly truth. lol

p.s. the shaded area above price not in the previous chart is something I am watching for the coming week.
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  • #5
  • Aug 10, 2012 8:46pm Aug 10, 2012 8:46pm
My previous positions that I had built with limit orders. I want to stress that this is my style of trading. Cyclic is the natural movement, something to keep in mind. Patience and chartwork can tell you where price should move to.....should. lol It's always nice to see divergence.
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  • #6
  • Aug 10, 2012 8:53pm Aug 10, 2012 8:53pm
Hope everyone has a great weekend.
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  • #7
  • Aug 10, 2012 10:12pm Aug 10, 2012 10:12pm
just another chart from another broker
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  • #8
  • Aug 11, 2012 4:13am Aug 11, 2012 4:13am
Hey C-Man ... Seaman ... learning to swim.

Good to see you around, I liked your philosophy and I remember you were a fan of Bronson's. Which one is your fave movie?

Regarding GBP ... do you find one chart gives you enough information? Not talking about timeframes but instruments. Like, I reckon EUR/GBP has a great influence on all £££ pairs ...
funny to see when ppl try to explain the crazy volatility and churning with some theory when in fact it could have been just a big EUR/GBP order that caused those hiccups.
Quoting calderone
I analyze a chart, work it up and wait, if I see something develop I may place a limit order....then I walk away or go to sleep or ride my fuji trail bike etc. I don't concern myself with being glued to the screen anymore than I have to be. I like the 4hr charts, it just feels right to me.....some of you may prefer the 1 hr or a daily chart....maybe even a 30min. To each his own.
forget about tomorrow, just steal away into the night
  • #9
  • Aug 11, 2012 9:11am Aug 11, 2012 9:11am
Quoting spekitox
Hey C-Man ... Seaman ... learning to swim.

Good to see you around, I liked your philosophy and I remember you were a fan of Bronson's. Which one is your fave movie?

Regarding GBP ... do you find one chart gives you enough information? Not talking about timeframes but instruments. Like, I reckon EUR/GBP has a great influence on all £££ pairs ...
funny to see when ppl try to explain the crazy volatility and churning with some theory when in fact it could have been just a big EUR/GBP order that caused those hiccups.
Favorite Bronson movie......"The Magnificent Seven" and "The Dirty Dozen" and "The Mechanic"..........."Once Upon a Time in the West". I don't want to leave out "Death Wish." lol

I watch the dollar index. I pay more attention to exports. I also watch indices. It can all get rather complicated and correlations are not constant. Market data is something to pay attention to as we all know news can cause volatility. There is more to know I am sure but orders build up and are waiting for the market to reach them (big orders sometimes)....so I am in agreement-sometimes it's an area where banks are moving price. Support and resistance, what drives price to those areas and how fast.
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  • #10
  • Aug 12, 2012 1:41pm Aug 12, 2012 1:41pm
Quoting calderone
Favorite Bronson movie.....
Hm ... I like The Mechanic, I like the vibe of the 70s, no hurry, not everything about "spending the money we don't have, on things we don't need, to impress people we don't like"
... I like his professional attitude, independent person with a stylish place, reserved but well-informed, does his job well, leaves no loose ends ... I just can't put my hangups aside, after all he is a contract killer ... as such a controversial figure, not a good example for viewers, look this Batman madman in the US, idolised Joker and ended up killing a dozen innocent people.
You left out The Great Escape, I'll pick that one

Quoting calderone
I watch the dollar index. I pay more attention to exports. I also watch indices. It can all get rather complicated and correlations are not constant. Market data is something to pay attention to as we all know news can cause volatility.
Hmm ... Yeah, keep it simple. Is it going up or is it going down. I too like to keep an eye on indices, currency indices. I found this Metatrader indicator that calculates an average price, not really price but a curve, for EUR, USD, GBP and other major currencies, helps see the direction better ... ah, time to stir the pasta now, have a good trading week.
forget about tomorrow, just steal away into the night
  • #11
  • Aug 12, 2012 9:38pm Aug 12, 2012 9:38pm
Quoting spekitox
Hm ... I like The Mechanic, I like the vibe of the 70s, no hurry, not everything about "spending the money we don't have, on things we don't need, to impress people we don't like"
... I like his professional attitude, independent person with a stylish place, reserved but well-informed, does his job well, leaves no loose ends ... I just can't put my hangups aside, after all he is a contract killer ... as such a controversial figure, not a good example for viewers, look this Batman madman in the US, idolised Joker and ended up killing a dozen innocent...
The Great Escape was awesome. I just liked his style. Yeah, we have some loons over here in the U.S. IMHO all the technology and advancements of the modern age is data overload for some people.

One thing I used to do for direction was draw channels on the daily, the 4hr and the 1hr. This would show me the current in the ocean. I would only scalp in the direction of the 1 hr channel. Seeing as I don't scalp anymore-I use channels on the weekly, daily, 4hr sometimes. I think you get my drift. Enjoy your pasta and have a geat week.
  • #12
  • Aug 12, 2012 9:39pm Aug 12, 2012 9:39pm
My line in the sand on yen.
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  • #13
  • Aug 12, 2012 9:45pm Aug 12, 2012 9:45pm
Watching.......
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  • #14
  • Aug 12, 2012 9:49pm Aug 12, 2012 9:49pm
My do nothing zone. lol
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  • #15
  • Aug 13, 2012 1:50pm Aug 13, 2012 1:50pm
I don't really get too excited about sun night's and mondays. I'll start paying closer attention this evening. Will update if I get into anything.
  • #16
  • Aug 14, 2012 3:57am Aug 14, 2012 3:57am
Hey Mike, Good to hear from ya brother. It's been a long time.

Congrats on your new thread. Should be interesting I'm sure.
Ghost Rider - WWTBMD?
  • #17
  • Aug 14, 2012 6:30am Aug 14, 2012 6:30am
Quoting albchr
Hey Mike, Good to hear from ya brother. It's been a long time.

Congrats on your new thread. Should be interesting I'm sure.
Thanks my friend. Thanks for dropping in on me. lol I don't know about interesting but it may entertain some.
  • #18
  • Aug 14, 2012 6:31am Aug 14, 2012 6:31am
Quoting calderone
Thanks my friend. Thanks for dropping in on me. lol I don't know about interesting but it may entertain some.
Well....entertainment is .... Interesting...LOL

How ya been man and how goes the trading?
Ghost Rider - WWTBMD?
  • #19
  • Aug 14, 2012 6:32am Aug 14, 2012 6:32am
Nice reaction at the level I marked. If I had been around I might have shorted it already but the hourly suggests we are not done yet.
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  • #20
  • Aug 14, 2012 6:39am Aug 14, 2012 6:39am
Quoting calderone
I'm such a contrarian, I will wait to sell as others are buying and making pips. I want to see this area violated before I consider a long.
I've been picking up a couple buys on the way down...LOL

http://www.forexfactory.com/showthre...17#post5926917

We'll see how it unfolds. I should have just held yesterdays longs. Taking out yesterday high looks good to me.
Ghost Rider - WWTBMD?
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