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Price Action and Trading Discussion

  • #2,141
  • Sep 11, 2012 7:10am Sep 11, 2012 7:10am
Quoting dboy365
After taking some good profits off my buys last week, I just bought AU and NU few mins ago. lets see how they go.
trade update. sl moved to break even. Its a risk-free credit card now.
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  • #2,142
  • Sep 11, 2012 8:50am Sep 11, 2012 8:50am
Quoting dboy365
trade update. sl moved to break even. Its a risk-free credit card now.
Nice work dboy, once its risk free its all good from there.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,143
  • Sep 11, 2012 8:52am Sep 11, 2012 8:52am
Quoting onekuelkat
I had a similar pending order on that pair. A pair I don't typically look at. Waas looking for it to come up into my zone. I'll keep checking that one out as well. Looks promising. Good luck to you
Well its not starting off too well, I could potentially be looking at another not so good position on this one.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,144
  • Sep 11, 2012 8:56am Sep 11, 2012 8:56am
Quoting onekuelkat
I've been looing at your charts for a bit. Have'nt quite figured out your criteria as of yet. Is it the hammer, and morning star. and waiting until AFTER it moves out of the channel?

Just wondering, since you're doing so well from what I can tell.
Quite simply yes I do look for for certain candle and pattern types, but they must appear in the right place on the chart.

I am sure from my charts you will notice I place a lot of emphasis on horizontal levels in the market. It doesnt get too much more involved than that. Keep it simple.

Trend lines are played in a very similar manner looking for certain market characteristics. I will either look for a simple break and trade or wait for the break and pullback and then look for a reason to enter.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,145
  • Sep 11, 2012 9:08am Sep 11, 2012 9:08am
That's the way it goes. The stops losses are our friends. Hopefully, we all take less losses than our gains. You'll get it back.
  • #2,146
  • Sep 11, 2012 9:11am Sep 11, 2012 9:11am
Quoting onekuelkat
That's the way it goes. The stops losses are our friends. Hopefully, we all take less losses than our gains. You'll get it back.
Indeed we place those stops in the market for an "extremely" important reason.

Well its not over until its over still early days yet but as we know the market can move quite fast at times with no respect for support or resistance areas.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,147
  • Sep 11, 2012 9:20am Sep 11, 2012 9:20am
I too only look at supply and demand. It appears as though we have a similar style. I identify the "zones", and place my orders. I do wait for it to come into my zone. Up into the supply zone for the short, or down to demand for the long. I want to buy, when everyone starts selling, and sell when everyone starts buying.
It's the news in this game thats the killer for me. I'm trying to get that part figured out. I may switch it up a bit. wait till the move starts in my direction.

It does appear you're doing well. Keep up the good work.
  • #2,148
  • Sep 11, 2012 9:25am Sep 11, 2012 9:25am
Quoting onekuelkat
I too only look at supply and demand. It appears as though we have a similar style. I identify the "zones", and place my orders. I do wait for it to come into my zone. Up into the supply zone for the short, or down to demand for the long. I want to buy, when everyone starts selling, and sell when everyone starts buying.
It's the news in this game thats the killer for me. I'm trying to get that part figured out. I may switch it up a bit. wait till the move starts in my direction.

It does appear you're doing well. Keep up the good work.
If your are concerned about the news or find that it is affecting your trading, simply ensure that you are aware of when the news is and the impact that it may have on the market. If it is a major news release then it can be good to be cautious with your trades or potentially stay out of the market.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,149
  • Sep 11, 2012 10:10am Sep 11, 2012 10:10am
I have been doing that at times. At other times, I judge the impact I believe to be coming, and tighten the s/l to ten pips, give or take. Although, I get the stop hit, then it will head the direction I expected. So I do need to rethink that some more. It's easy to hit 10 or so pips, I'm trying to learn the swing trading now. Don't want to live in front of the computer.

I'm still a newbie though. Doing okay so far. Lost 20% in the beginning. Regained 10 of that. Mostly due to too tight of stops, and a bit of over trading, and "chasing the move" NOT sticking to my rules. My bad on that. Have to keep the emotions out of it now.

Plan your trade, trade your plan.
  • #2,150
  • Sep 11, 2012 12:14pm Sep 11, 2012 12:14pm
This is where I stand for the day. Took a long on the gbp/usd. Also, I did have four others working. Two good, and two not so good. Cancelling each other out for a wash.
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  • #2,151
  • Sep 11, 2012 12:31pm Sep 11, 2012 12:31pm
great thread, i couldnt read it all though, too much to read, but i will be very active here!!!!!!!!
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #2,152
  • Sep 11, 2012 1:11pm Sep 11, 2012 1:11pm
Quoting onekuelkat
This is where I stand for the day. Took a long on the gbp/usd. Also, I did have four others working. Two good, and two not so good. Cancelling each other out for a wash.
Hi onekuelkat
Nice trade, I thought of the same trade. But I lost the timing.......
  • #2,153
  • Sep 11, 2012 3:36pm Sep 11, 2012 3:36pm
Quoting Jorg
Hi onekuelkat
Nice trade, I thought of the same trade. But I lost the timing.......

I only wish they were all that way. TY
  • #2,154
  • Sep 11, 2012 3:39pm Sep 11, 2012 3:39pm
Picked something up from your chart postings. the R.N. Is that the focal point of your strategy. One of your necessary odds to be stacked with trend?
  • #2,155
  • Sep 11, 2012 3:58pm Sep 11, 2012 3:58pm
Quoting Soros
great thread, i couldnt read it all though, too much to read, but i will be very active here!!!!!!!!
Hi Soros,

I look forward to seeing some charts.

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,156
  • Sep 11, 2012 3:59pm Sep 11, 2012 3:59pm
Quoting onekuelkat
Picked something up from your chart postings. the R.N. Is that the focal point of your strategy. One of your necessary odds to be stacked with trend?

Yes indeed the RN plays a big part
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,157
  • Sep 11, 2012 4:01pm Sep 11, 2012 4:01pm
Quoting onekuelkat
This is where I stand for the day. Took a long on the gbp/usd. Also, I did have four others working. Two good, and two not so good. Cancelling each other out for a wash.
Nice work, this has certainly made a nice move since breaking that 1.5900 resistance area.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,158
  • Sep 11, 2012 4:06pm Sep 11, 2012 4:06pm
Quoting onekuelkat
I have been doing that at times. At other times, I judge the impact I believe to be coming, and tighten the s/l to ten pips, give or take. Although, I get the stop hit, then it will head the direction I expected. So I do need to rethink that some more. It's easy to hit 10 or so pips, I'm trying to learn the swing trading now. Don't want to live in front of the computer.

I'm still a newbie though. Doing okay so far. Lost 20% in the beginning. Regained 10 of that. Mostly due to too tight of stops, and a bit of over trading, and "chasing the move"...
Chasing trades can be very dangerous. If you miss a move then so be it, move on to the next opportunity, they will always be there, just need the patience to wait for them. The emotions of trading is what pretty much all new traders will battle with and I battled those demons myself when I was new to trading.

By following your trading plan, it will help you take the emotion out of the trading.

Plan your trade, trade your plan
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,159
  • Sep 11, 2012 4:51pm Sep 11, 2012 4:51pm
How long have you been doing this DW?
It appears as though you've done this for quite some time. You say a lot of the same things I paid several thousands of dollars to be taught. Right down to planning your trade, and trading your plan. (exellent slogan by the way).

I'm just trying to consistantly put it all together, as you have.

You get my respect.
  • #2,160
  • Sep 11, 2012 5:13pm Sep 11, 2012 5:13pm
Quoting onekuelkat
How long have you been doing this DW?
It appears as though you've done this for quite some time. You say a lot of the same things I paid several thousands of dollars to be taught. Right down to planning your trade, and trading your plan. (exellent slogan by the way).

I'm just trying to consistantly put it all together, as you have.

You get my respect.
Welcome Soro and other new members.
@onekuelkat, Dw is a great mind to learn from and I have never turned back since someone recommended this thread to me. I'm sure you, like most new traders paid so much to learn most of the stuffs that are available for free. There is always a learning curve and the patience to continually learn and improve is what separates the quitters from the successful traders in this forex business. I'm glad you are finally doing ok; soon you'd see and trade setups like DW and other great minds in this great house.

Buy Limit placed on GJ. Lets see how it goes.
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