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  • #5,521
  • Aug 12, 2012 10:24pm Aug 12, 2012 10:24pm
Quoting DaddyBear
What odds? Are you talking about betting?
If you try to bet in the Forex market, you might get burned frequently.
daddybearforex. com
  • #5,522
  • Aug 12, 2012 10:29pm Aug 12, 2012 10:29pm
Quoting DaddyBear
If you try to bet in the Forex market, you might get burned frequently.
no no,it was just a movie dialogue,not pointing towards betting
Sometimes it's better to be wrong,to learn..
  • #5,523
  • Aug 12, 2012 11:28pm Aug 12, 2012 11:28pm
Quoting DaddyBear
I was a radical fan of candlesticks charting before and I still use it now. However, I would keep my understanding of candles to the way conceived by the Japanese 400 years ago. Whatever theories go beyond that original meaning would be deemed to be hearsay to me.

Nison was the first one who introduced candle charting to the Western world. To me his job was done. This is the reason I classify his promotional emails as junk for a long time.

My point is that if you believe in a book completely, you better off threw the book away. IMHO
I havent' read Nisson's book. I do speak English, Japanese, and Chinese, and some other languages. I would say that some translations are crap, and the pychology of the candles are dirived from the Japanese cultural enviroment. This influences the logic of a language. Just like in English when someone says, "You're fired." People who don't speak English are confused by the word choice, since they don't understand how fire is related to losing ones job. However, in the history of English, there was a time, when kingdoms would have people come into their kindom and start building their homes. The kings would send out people to set fire to their homes. In this way, no one was killed and it made those people go away. That is why English speakers say... "You're fired." So, as you can see, that most etymology has very clear logic to it. Just like candles sticks have special logic based on the culture that they were derived from. But it is great that you like candlestick patterns. Combined with other signals, they can be very good.


Also, as far as the whole time zone thing. The Europeon session is the most liquid session in the world. New York is the last market to operate in the world. So, at the end of the week, the only liquidity is from the New York session. But again, what do I know. I still consider myself a newbie, so that is why my trading day is 12 midnight to 12 midnight London time. After all they have been in the foriegn exchange market for hundreds of years now.
Luck has no place in trading. Leave that for the poker table.
  • #5,524
  • Aug 12, 2012 11:31pm Aug 12, 2012 11:31pm
Nobody is trading now?
daddybearforex. com
  • #5,525
  • Aug 12, 2012 11:35pm Aug 12, 2012 11:35pm
Quoting DaddyBear
Nobody is trading now?
Boring session eh?

I been short since the second time we touched 1.0565. Just a scalp though, definitely not holding overnight. (In California)

Looking to see if we can break 1.0557, if not I'll close out for just a couple pips.
  • #5,526
  • Aug 12, 2012 11:41pm Aug 12, 2012 11:41pm
Quoting SemperOorah
Boring session eh?

I been short since the second time we touched 1.0565. Just a scalp though, definitely not holding overnight. (In California)

Looking to see if we can break 1.0557, if not I'll close out for just a couple pips.
Out at 1.0554. Be back tomorrow night, later.
  • #5,527
  • Aug 12, 2012 11:41pm Aug 12, 2012 11:41pm
kind of boring now so here is something funny
https://lh5.googleusercontent.com/--...-humor-pic.jpg
In trading, you have to be defensive and aggressive at the same time
  • #5,528
  • Aug 13, 2012 12:03am Aug 13, 2012 12:03am
Quoting SemperOorah
Out at 1.0554. Be back tomorrow night, later.
I am short too and still holding on to it.
daddybearforex. com
  • #5,529
  • Aug 13, 2012 12:13am Aug 13, 2012 12:13am
Quoting DaddyBear
I am short too and still holding on to it.
I use the strategy below. When the Bull was at high end, I entered short. If the Bear was at the high end, I would enter long. When the swing is at the lowest spot, I will exit.

Sounds easy, right? But, it is easier said than done.
Attached Image (click to enlarge)
Click to Enlarge Name: SWING-5.JPG Size: 42 KB
daddybearforex. com
  • #5,530
  • Aug 13, 2012 12:28am Aug 13, 2012 12:28am
Quoting DaddyBear
I use the strategy below. When the Bull was at high end, I entered short. If the Bear was at the high end, I would enter long. When the swing is at the lowest spot, I will exit.

Sounds easy, right? But, it is easier said than done.
where you entered short?price?
Sometimes it's better to be wrong,to learn..
  • #5,531
  • Aug 13, 2012 12:31am Aug 13, 2012 12:31am
Quoting DaddyBear
I use the strategy below. When the Bull was at high end, I entered short. If the Bear was at the high end, I would enter long. When the swing is at the lowest spot, I will exit.

Sounds easy, right? But, it is easier said than done.
What I see is a pattern of swings ahead until the end. So, this is going to be the strategy until it's over.
Attached Image (click to enlarge)
Click to Enlarge Name: SWING-6.JPG Size: 50 KB
daddybearforex. com
  • #5,532
  • Aug 13, 2012 12:34am Aug 13, 2012 12:34am
Quoting KiNgEdwarD
where you entered short?price?
Is it important to you? It was close to the swing high.
daddybearforex. com
  • #5,533
  • Aug 13, 2012 12:35am Aug 13, 2012 12:35am
Quoting DaddyBear
Is it important to you? It was close to the awing high.
yes..
Sometimes it's better to be wrong,to learn..
  • #5,534
  • Aug 13, 2012 12:48am Aug 13, 2012 12:48am
Hey DB,
I post some question in PM for you...

Thanks,
TT
  • #5,535
  • Aug 13, 2012 12:52am Aug 13, 2012 12:52am
Quoting KiNgEdwarD
yes..
Bragging my entries or exits would only make myself arrogant. The consequences were failures thereafter. I am here to compete with nobody except myself. Disclosing those data is meaningless to me. What I would like to know is what direction others are taking. I cannot duplicate their entries or exits. I believe this way makes me focus more on my own trades instead of others'.

http://www.forexfactory.com/attachme...1&d=1344716560
daddybearforex. com
  • #5,536
  • Aug 13, 2012 12:57am Aug 13, 2012 12:57am
I have reshorted again today, hopefully 1.05 will be broken this week, though I know how frustrating it has been to short this teflon-coated balloon over the past few weeks
  • #5,537
  • Aug 13, 2012 1:03am Aug 13, 2012 1:03am
Quoting DaddyBear
Bragging my entries or exits would only make myself arrogant. The consequences were failures thereafter. I am here to compete with nobody except myself. Disclosing those data is meaningless to me. What I would like to know is what direction others are taking. I cannot duplicate their entries or exits. I believe this way makes me focus more on my own trades instead of others'.

http://www.forexfactory.com/attachme...1&d=1344716560
i'm long now
Sometimes it's better to be wrong,to learn..
  • #5,538
  • Aug 13, 2012 1:07am Aug 13, 2012 1:07am
Quoting DaddyBear
What I see is a pattern of swings ahead until the end. So, this is going to be the strategy until it's over.
Just want to clarify my cartoon. The Bull and the Bear cannot both be at swing high at the same time. The cartoon has no time factor built in.
daddybearforex. com
  • #5,539
  • Aug 13, 2012 1:10am Aug 13, 2012 1:10am
Quoting KiNgEdwarD
i'm long now
Glad to know you do have independent thinking regardless of whether or not it was made at the right time or at the right level.
daddybearforex. com
  • #5,540
  • Aug 13, 2012 1:13am Aug 13, 2012 1:13am
Quoting DaddyBear
Bragging my entries or exits would only make myself arrogant. The consequences were failures thereafter. I am here to compete with nobody except myself. Disclosing those data is meaningless to me. What I would like to know is what direction others are taking. I cannot duplicate their entries or exits. I believe this way makes me focus more on my own trades instead of others'.

http://www.forexfactory.com/attachme...1&d=1344716560
Totally agree DB. We only have to compete with ourselves.I have a short bias at present. will revisit 1.0440 zone ???
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