We are technical traders (especially on these timeframes), not fundamental traders - so why consider fundamentals during trading ??
Doing what you like is Freedom. Liking what you do is Happiness.
- #9,261
- Feb 6, 2013 1:57pm Feb 6, 2013 1:57pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
- #9,262
- Edited 2:20pm Feb 6, 2013 2:04pm | Edited 2:20pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
my emotions took over a while ago, I know I should ignore my feelings but being a huge skeptic of this jpy deprecation / eur rally it seems I'm just weak and can't for now. Although i do learn overtime so have stayed out of the market instead going against the trend
No one said this was easy....and just as well too!!
You're a good trader Ati, I have seen you make some good trades in the past and I'm sure you're going to be fine
Doing what you like is Freedom. Liking what you do is Happiness.
- #9,263
- Feb 6, 2013 2:24pm Feb 6, 2013 2:24pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Also another point Ati,
The EU politicians cant admit the EU economy is really weak, otherwise everyone will say, oh yeah, your right, and money will run out of their banks, and the sh#t hits the fan
So all words out of EU is saying everything is being fixed everything is on course, and the maket seems to believe them ????
Until .... the last straw is carefully laid somewhere sometime, and ..... pfffft
Doing what you like is Freedom. Liking what you do is Happiness.
- #9,264
- Feb 6, 2013 4:16pm Feb 6, 2013 4:16pm
Thanks, I agree on everything you said, both on the how to and the economic part. If I start to think about it I get to the same conclusion
Truth is that I've made a few mistakes lately which led to serious decline on my account. Not game over yet luckily and it's a micro account so it won't have an impact on my life. However my ego is bleeding hard looking back at my...
...) It occurs to me a consistent mentality is necessary to maintain a consistent trading regime. Marty says it when he puts on his trading persona and RJ admits he still has to kick himself now and then so we are trying to cut down the emotional errors and follow a steady course. Just check out this NZUSD trade I made last night. Genesis rules but manual tradeout to give me +50 pips.....I look back and say "how the hell did I do that?" I can't fit my checklist on a sticky...but everything lined up and it was after a loosing trade that I refused to be fazed out by. Check out some of your good trades as you remind yourself to thin out the loosing ones......Hope you don't mind my 2 cents worth......
- #9,265
- Feb 6, 2013 6:03pm Feb 6, 2013 6:03pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
I just noticed that there is going to be an 'end of year' EU Summit coming up....lol......that makes 26 'Summit's in 3 years......obviously the meaning of the word is lost on those muppets.....
And 6 weeks later these muppets are having yet another 'summit'......lol
Doing what you like is Freedom. Liking what you do is Happiness.
- #9,266
- Edited 11:15pm Feb 6, 2013 10:57pm | Edited 11:15pm
- Joined Sep 2012 | Status: Beam me up, Scotty | 1,531 Posts
Excellent post Marty. Thank you
That is part of the fascination of forex trading, there is a natural level of activity (apart from pure trading/speculation) companies needing to buy yen to puchase Jap cars, pension funds need to buy dollars to invest in Treasuries, etc.
Trading in forex is an integral part of the way the modern world economy operates. There is always a huge amounts of forces at play from different aspects across a range of currencies, so on a M5 tmeframe which of those forces are working on one currency and another, would be completely impossible to quantify
I still have top say to myself, eg, my M15 stoch is rising because folks out these are buying, they may have their reasons, then a dip in my M5 stochs, could be traders cashing out on a move, or a big corporate hedging some exposure (ie completely unrelated to technical factors, then traders are jumping in.
Like my comment on EJ yesterday, it fell yesterday, mainly from some comments from some EU politician, but I had a reasonable idea that when US came to their desks, they should be buying on the dip.
and hey presto !!
I am a fallible imperfect person; so I must be a fallible imperfect trader.
- #9,267
- Feb 6, 2013 11:21pm Feb 6, 2013 11:21pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
- #9,269
- Feb 7, 2013 12:00am Feb 7, 2013 12:00am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
- #9,271
- Feb 7, 2013 12:30am Feb 7, 2013 12:30am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
- #9,274
- Feb 7, 2013 12:35am Feb 7, 2013 12:35am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
- #9,276
- Feb 7, 2013 12:43am Feb 7, 2013 12:43am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
- #9,280
- Feb 7, 2013 12:49am Feb 7, 2013 12:49am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
I know EU wasn't exactly 100% HPT.....
Doing what you like is Freedom. Liking what you do is Happiness.