Reread post 268 and see what you think.
I got the answer i was looking for
Thank you
- #302
- Feb 4, 2013 8:22am Feb 4, 2013 8:22am
- Joined Nov 2010 | Status: Snaggin' Some Pips | 2,159 Posts
- #303
- Feb 4, 2013 3:49pm Feb 4, 2013 3:49pm
- Joined Nov 2010 | Status: Snaggin' Some Pips | 2,159 Posts
Big retracement day. No orders closed, so for now, I'll view it as a positive opportunity to stack more trades 
- #304
- Feb 4, 2013 4:44pm Feb 4, 2013 4:44pm
- Joined Nov 2010 | Status: Snaggin' Some Pips | 2,159 Posts
Woo hoo!. 17 pendings orders. Let's hope for that retracement to end and turn back around. 
Big retracement day. No orders closed, so for now, I'll view it as a positive opportunity to stack more trades
Woo hoo!. 17 pendings orders. Let's hope for that retracement to end and turn back around.
WOW 17 POs!
I am watching just a handful pairs.
U R Gang-Ho
On the other hand, I guess, if the trend "change" continues like today, when it goes beyond MA22+15pips, you would just close up the pairs?
Happy pipping!
- #306
- Feb 4, 2013 4:56pm Feb 4, 2013 4:56pm
- Joined Nov 2010 | Status: Snaggin' Some Pips | 2,159 Posts
Read your comments.
WOW 17 POs!
I am watching just a handful pairs.
U R Gang-Ho
On the other hand, I guess, if the trend "change" continues like today, when it goes beyond MA22+15pips, you would just close up the pairs?
Happy pipping!
- #307
- Edited 5:43pm Feb 4, 2013 5:40pm | Edited 5:43pm
- Joined Jul 2011 | Status: Gold Again | 10,564 Posts
ALL YOU NEED TO KNOW ABOUT TRADING
* Price either goes up or down
* No one knows what will happen next
* Keep losses small and let winners run
* POSITION SIZE = RISK / STOP LOSS
* The reason you entered has no bearing on the outcome of your trade
* You can control the size of your loss (skill) but you can't control the size of your win (luck)
* You need to know when to pick up your chips and cash them in
Expectancy = (Probability of Win * Average Win) - (Probability of Loss * Average Loss)
You cannot control the probabilities of wining or losing
You cannot control your average win size
The only part of the equation that you can control is your average loss size
PRICE ACTION
"Now, 2 patterns of market behavior happen on a regular basis:
1) the price breaks to new high's (or low's)
2) the price reverses from new high's (or low's)
They happen regardless of time frame
They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist.” - H. Rearden
1) Price will either breakout of the high, low or both of the previous bar
2) Price will not breakout of the previous bar
You cannot reduce it any further. Anything else complicates the issue.
ENTERING A TRADE
You either decide to:
1) Wait and do not enter a trade
2) Trade a breakout
3) Trade a reversal
Those are your ONLY 3 options
That is all you need to know about trading
* Price either goes up or down
* No one knows what will happen next
* Keep losses small and let winners run
* POSITION SIZE = RISK / STOP LOSS
* The reason you entered has no bearing on the outcome of your trade
* You can control the size of your loss (skill) but you can't control the size of your win (luck)
* You need to know when to pick up your chips and cash them in
Expectancy = (Probability of Win * Average Win) - (Probability of Loss * Average Loss)
You cannot control the probabilities of wining or losing
You cannot control your average win size
The only part of the equation that you can control is your average loss size
PRICE ACTION
"Now, 2 patterns of market behavior happen on a regular basis:
1) the price breaks to new high's (or low's)
2) the price reverses from new high's (or low's)
They happen regardless of time frame
They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist.” - H. Rearden
1) Price will either breakout of the high, low or both of the previous bar
2) Price will not breakout of the previous bar
You cannot reduce it any further. Anything else complicates the issue.
ENTERING A TRADE
You either decide to:
1) Wait and do not enter a trade
2) Trade a breakout
3) Trade a reversal
Those are your ONLY 3 options
That is all you need to know about trading
It takes a lot for me to IGNORE you, but you can try.
- #308
- Feb 4, 2013 6:26pm Feb 4, 2013 6:26pm
- Joined Nov 2010 | Status: Snaggin' Some Pips | 2,159 Posts
ALL YOU NEED TO KNOW ABOUT TRADING
* The reason you entered has no bearing on the outcome of your trade
I might disagree with this
If I enter a trade on the Aud/Usd tonight at 9:30:15 CST right after the RBA announces a 25 basis points rise in their cash rate and profit from the resulting 70 pips pop to the upside, I have a pretty strong feeling that the outcome is going to be tied to the reason I entered the trade.
1) Price will either breakout of the high, low or both of the previous bar
2) Price will not breakout of the previous bar
You cannot reduce it any further. Anything else complicates the issue.
"* Price either goes up or down"
The trick is figuring out which, when, and for how long.
ENTERING A TRADE
You either decide to:
1) Wait and do not enter a trade
2) Trade a breakout
3) Trade a reversal
Those are your ONLY 3 options
- #309
- Feb 4, 2013 6:39pm Feb 4, 2013 6:39pm
- Joined Sep 2009 | Status: Trader | 1,027 Posts
I want to buy PATIENCE
- #310
- Feb 4, 2013 6:57pm Feb 4, 2013 6:57pm
- Joined Nov 2010 | Status: Snaggin' Some Pips | 2,159 Posts
If I enter a trade on the Aud/Usd tonight at 9:30:15 CST right after the RBA announces a 25 basis points rise in their cash rate and profit from the resulting 70 pips pop to the upside, I have a pretty strong feeling that the outcome is going to be tied to the reason I entered the trade.
No trading breakouts...no trading reversals. Trading market sentiment.
Not what were doing here, but you shouldn't put all your eggs in one basket...
News came out the RBA was dropping their rate by 25 basis points. Price actually pulled back a little, and then shot down 75 pips over the next 90 mins.
It dropped another 200+ pips over the next 5 days. Don't think the market cared if AudUsd was overbought, oversold, or anything else an indicator will tell you. What it cared about was the fact that the interest rate dropped in Aus and the smart money wanted out.
- #311
- Feb 4, 2013 7:00pm Feb 4, 2013 7:00pm
- Joined Nov 2010 | Status: Snaggin' Some Pips | 2,159 Posts
For those interested...the next AUD rate announcement comes out in 2 1/2 hours...Do you know where your children are?
- #312
- Feb 5, 2013 4:15am Feb 5, 2013 4:15am
- Joined Jul 2011 | Status: Gold Again | 10,564 Posts
For those interested...the next AUD rate announcement comes out in 2 1/2 hours...Do you know where your children are?
It takes a lot for me to IGNORE you, but you can try.
- #313
- Feb 5, 2013 6:18am Feb 5, 2013 6:18am
- Joined Nov 2010 | Status: Snaggin' Some Pips | 2,159 Posts
Ah, no big deal there... nice to see a little pop in the YEN pairs again for the method
But as you mentioned we are seeing some nice movement, really across the board. We'll see how the day progresses. Just got up so haven't had a chance to look at the news over night to see what's been happening.
- #314
- Feb 5, 2013 6:35am Feb 5, 2013 6:35am
- Joined Nov 2010 | Status: Snaggin' Some Pips | 2,159 Posts
- #318
- Feb 5, 2013 7:17am Feb 5, 2013 7:17am
- | Joined Apr 2010 | Status: Trader | 1,404 Posts
Woo hoo!. 17 pendings orders. Let's hope for that retracement to end and turn back around.
Still thinking about just taking addons trades or not.........
Cheers
- #319
- Feb 5, 2013 7:34am Feb 5, 2013 7:34am
- Joined Nov 2010 | Status: Snaggin' Some Pips | 2,159 Posts
- #320
- Feb 5, 2013 7:38am Feb 5, 2013 7:38am
- Joined Nov 2010 | Status: Snaggin' Some Pips | 2,159 Posts