DislikedWell. I think it is the fact that we have so many different P.O.V. on the same data it becomes very hard to see what the market for what it is.Ignored
What a bloody merry-go-round.
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DislikedWell. I think it is the fact that we have so many different P.O.V. on the same data it becomes very hard to see what the market for what it is.Ignored
DislikedTrue, but it's worrying for a newbie that what is essentially the same information can be interpreted in so many different ways - all of which may be right eventually but in the meantime . . . bang goes the farm! Consistent losses affect confidence even if your account is still healthy and a lack of confidence causes mistakes in interpretation.
What a bloody merry-go-round.Ignored
DislikedTrue, but it's worrying for a newbie that what is essentially the same information can be interpreted in so many different ways - all of which may be right eventually but in the meantime . . . bang goes the farm! Consistent losses affect confidence even if your account is still healthy and a lack of confidence causes mistakes in interpretation.
What a bloody merry-go-round.Ignored
DislikedStrong reaction around 1340 S&P... was expecting a reaction.. constructing a big long position here for a big rally.. SL close below the low...Ignored
DislikedAnyone got any thoughts on why the GBPUSD has virtually recovered from that drop at 17.10 GMT whilst the EURUSD is still suffering?Ignored
DislikedTrue, but it's worrying for a newbie that what is essentially the same information can be interpreted in so many different ways - all of which may be right eventually but in the meantime . . . bang goes the farm! Consistent losses affect confidence even if your account is still healthy and a lack of confidence causes mistakes in interpretation.
What a bloody merry-go-round.Ignored
Disliked
daily means bigger SL but bigger TP 1 minute means small SL small TP etc. oh and F* indicatorsIgnored
DislikedExcellent point. Yet let me give you a tad of advice. If you have a system. Even if it is price action using Bollingerbands as I use. Your losses are almost 100% results of not following the very same rules your created. Ever back tested your system, and notice how simple the market looks. Then when your live it is something different. Well that is because we jump the gun, and try to predict instead of react. Take me for an example.
Everyone who has asked me "teach me the trick to trade on 1m" Do you know what my first response is? "Close...Ignored
DislikedAh! So you mean that I'm supposed to have a 'system'
Currently, my 'system' runs along the lines of "oh, doesn't that make a pretty pattern and didn't it do something similar yesterday". That's why I'm not yet particularly successful - oh, alright, positively shite!
But I am trying to learn the technicalities, honest.
Interesting commenton the 1M chart 'cos that's exactly what I do - sit there watching it and wasting time, energy and emotional effort.Ignored
DislikedVery well said Doom. Yet, look at the those who trade on higher tf. They more then likely spend most of their time in red. Only because they are aiming for a specific TP. Which inturn means they are risking less per point to have the cushion of a high sl. Yet what if you traded the same way on lower tf. Small sl, with no tp. You are then not conceding to be bias to your position, which in turn allows you to take profit when you have it.Ignored
Dislikedyou are probably right, but there are many swing and large TF traders that do very well indeed. I think it is all about how you want to trade practically that drives ones choices, a good number do not sit in front of their computer all day which is why they swing or use large SL to avoid market noise and hence higher TF and not everyone is cut out for the highs and lows of trading small timeframe volatility, and again for really big accounts it can be a lot cheaper in charges to place less trades.
still I like your styleIgnored
DislikedVery well said Doom. Yet, look at the those who trade on higher tf. They more then likely spend most of their time in red. Only because they are aiming for a specific TP. Which inturn means they are risking less per point to have the cushion of a high sl. Yet what if you traded the same way on lower tf. Small sl, with no tp. You are then not conceding to be bias to your position, which in turn allows you to take profit when you have it.Ignored
DislikedNow believe it or not. THAT IS THE BEST SYSTEM. Pattern recognition. Especially using 1m chart. I lie to you not. If you can study the 8 or so patterns (using the visual aid of bollingerbands) and just have the patients to let the formation complete itself. A stop loss of 3 points (spread included, assuming it is that of less then 1) will be enough protection. Which is why I like binary trading, because my only sl is time.Ignored