{quote} thanks ghous. i guess the weekly story does not support this one fully yet. so a better test of the RN 7200 would be better. what do you think? {image}
g.
I believe . . .
- #521
- Aug 1, 2013 5:14am Aug 1, 2013 5:14am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
g.
I have been busy lately and therefore I have been posting less. But still I put in my orders when I see a good level and setup developing.
Just like this beauty on the USDCAD. I had my order sitting on this level for 2 weeks and it got triggered last night without me even noticing it until I saw the profit
Just like this beauty on the USDCAD. I had my order sitting on this level for 2 weeks and it got triggered last night without me even noticing it until I saw the profit
Price is what you pay. Value is what you get.
A good rule of thumb I like to go by is:
if the trade setup doesnt jump at you after watching a chart for maxium of 5 seconds, it's not a good trade.
You wont need to ask yourself questions or argue with any voices in your head The best trades, you will know when you see them. The rest, don't bother to take them.
if the trade setup doesnt jump at you after watching a chart for maxium of 5 seconds, it's not a good trade.
You wont need to ask yourself questions or argue with any voices in your head
The best trades, you will know when you see them. The rest, don't bother to take them.
Price is what you pay. Value is what you get.
- #526
- Aug 2, 2013 1:27am Aug 2, 2013 1:27am
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
A good rule of thumb I like to go by is: if the trade setup doesnt jump at you after watching a chart for maxium of 5 seconds, it's not a good trade. You wont need to ask yourself questions or argue with any voices in your head
I have been busy lately and therefore I have been posting less. But still I put in my orders when I see a good level and setup developing. Just like this beauty on the USDCAD. I had my order sitting on this level for 2 weeks and it got triggered last night without me even noticing it until I saw the profit
Can you give us some more background information on your touch trades? Do you simply trade PPZs with touches? (I don't think that would be THAT easy/simple. I mean til now I don't see a complete system behind your trades, as I see at SFP trading.
As I have read your posts I saw that you tend to fancy the idea of price shooting up, leaving some orders behind, however I would be honoured if you could devote us some of your precious time and explain your system more precisely. (I know about your video thread, but there as far as I remember you didn't go into discussing your system.
Thanks, Have a nice weekend
Stephen
It's all psychology...
- #530
- Aug 2, 2013 6:09am Aug 2, 2013 6:09am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Ghous I am tempted by this area but, I can hear a voice in my head that says, "Wait for the 1.7000 to get tested"! Do you think I am possibly complicating this too much by this way of thinking or, am I on track. {image}
Helius made a good point there. I do the same thing as well. It takes me no more than 10 minutes to scan 60 daily charts at the end of each day. This removes all the clutter and everything in between the extremes of a great setup and a poor setup just get hurled down the end of the poor setup so all that remains for consideration is the set of good trades.
I just haven't been able to embrace this setup at all. Price seems to be less and less scared of the 1.7000 region and even a test of it, I don't think, will get me too excited. Again a lot depends on how things actually unfold but just the gut feeling here isn't very conducive or geared towards looking for a sure trade here.
g.
I believe . . .
- #531
- Edited 8:38pm Aug 2, 2013 8:01pm | Edited 8:38pm
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
{quote} Hey Steve, Helius made a good point there. I do the same thing as well. It takes me no more than 10 minutes to scan 60 daily charts at the end of each day. This removes all the clutter and everything in between the extremes of a great setup and a poor setup just get hurled down the end of the poor setup so all that remains for consideration is the set of good trades.
Thanks Ghous, sounds like good advice.
I shall also do the scan and leave only the best charts open where there is a possibility in the near future that price will trigger a setup.
No point putting charts on the screen when price is thousands of pips away from an area.
Looks like #BA and #SQ3 are arriving at the their respective zones.
My second trade this week. I closed it manually before market closed friday night.
@lametrader: my trades, just like this one as well, are based on the concept that "support turns into resistance; and vice versa."
So i just look for levels where price respected it very well and then I wait for a break and the pullback into the level. That's basically it in a nutshell
@lametrader: my trades, just like this one as well, are based on the concept that "support turns into resistance; and vice versa."
So i just look for levels where price respected it very well and then I wait for a break and the pullback into the level. That's basically it in a nutshell
Price is what you pay. Value is what you get.
Nice viewing for the weekend if you have about 45min to spare, it's about the stock exchange.
http://www.bbc.co.uk/iplayer/episode...76_The_Market/
http://www.bbc.co.uk/iplayer/episode...76_The_Market/
- #535
- Edited 10:27pm Aug 4, 2013 9:13pm | Edited 10:27pm
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
