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Trading Made Simple

  • #24,521
  • Sep 3, 2013 3:18am Sep 3, 2013 3:18am
Quoting gsbharaj
{quote} its just i am unlucky in trading
You make your own "luck"
  • #24,522
  • Sep 3, 2013 3:22am Sep 3, 2013 3:22am
Sometimes I ask myself each morning of my trading days, what should I look out for today in the market? What are my bias, considerations, determinations and specification? I try to ensure all this so as to perfect my trading skills everyday. In determination, I try to determine how much I trade and partake in the market. In consideration, I try to consider myself to be permanent in the currency and therefore I always trade to strengthen my equity. In speculation, I try to speculate in a way I find easy which gives me confidence as a trader and I try not to be like no other trader but the very great one I am aiming to be. In bias, I try not to get carried away by my bias of a currency for I know currencies could so funny sometimes. These are the compendium of my take for every market day, what is your take? I want every trader to tell us their take and consideration for every market so that others may learn and may be simplify their TDI learning process.

Regards,

Dalytec.
  • #24,523
  • Sep 3, 2013 3:42am Sep 3, 2013 3:42am
Quoting gsbharaj
{quote} its just i am unlucky in trading

trading requires skills ... gambling requires both skills and luck..

Inserted Video
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,524
  • Sep 3, 2013 3:52am Sep 3, 2013 3:52am
Quoting gsbharaj
{quote} Now why the hell in this world the price is going against me? i am getting a mini heart attack

I want to be seller so I am waiting at 1.6950 ...PA will later show me if I can join in the market at that level.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,525
  • Sep 3, 2013 3:55am Sep 3, 2013 3:55am
Quoting emmanuel7788
{quote} trading requires skills ... gambling requires both skills and luck.. https://www.youtube.com/watch?v=bPUU0j1JX5Q
I looove Kenny Rogers!!! Thank you for this video!!
  • #24,526
  • Sep 3, 2013 3:58am Sep 3, 2013 3:58am
Quoting emmanuel7788
{quote} trading requires skills ... gambling requires both skills and luck.. https://www.youtube.com/watch?v=bPUU0j1JX5Q

really love this song. would have been a rich man had I follow the lyrics to the letter.
the cautious seldom err....C
  • #24,527
  • Sep 3, 2013 4:05am Sep 3, 2013 4:05am
Just took this long on GU. Daily trend turned at the bottom of a channel, TDI on H4 makes nice cross up.

Any comment is welcome
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd.daily.png Size: 74 KB
Click to Enlarge Name: gbpusd.h4.png Size: 65 KB
  • #24,528
  • Sep 3, 2013 5:01am Sep 3, 2013 5:01am
I think you bought too early or too late.
Look left:
Very strong resistance, it is too early.
Too late, if you have been watching, 1H buy early, I'd probably BE. But good luck!
Sorry my poor English.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 54 KB
  • #24,529
  • Sep 3, 2013 5:03am Sep 3, 2013 5:03am
Quoting emmanuel7788
{quote} I want to be seller so I am waiting at 1.6950 ...PA will later show me if I can join in the market at that level.
could you tell me why you want to sell there?
Come tomorrow, I'll wake up new
  • #24,530
  • Sep 3, 2013 5:24am Sep 3, 2013 5:24am
Quoting gsbharaj
{quote} could you tell me why you want to sell there?
Thats resistance that was Support prior to the sell off.
  • #24,531
  • Sep 3, 2013 5:36am Sep 3, 2013 5:36am
Quoting clubdio
I think you bought too early or too late. Look left: Very strong resistance, it is too early. Too late, if you have been watching, 1H buy early, I'd probably BE. But good luck! Sorry my poor English. {image}
I agree, look at the bearish engulfing and current 4h candle which is a massive pinbar. Looks like price is being run up so they can dump longs, but what do I know lol
  • #24,532
  • Sep 3, 2013 6:15am Sep 3, 2013 6:15am
i was studying the big picture planning by emmanuel. i want to know that do we also have to draw the support and resistances in H4 timeframe? i have done in MH,W and daily till now.
Come tomorrow, I'll wake up new
  • #24,533
  • Sep 3, 2013 6:21am Sep 3, 2013 6:21am
the market is rather wobby today. i m trading 1HR and 15M S/L breakouts as my leading indicator therefore with tight SL.
  • #24,534
  • Sep 3, 2013 6:26am Sep 3, 2013 6:26am
its one of those days ...
now it gets complicated,

AU bullish
EU bearish

what happent to the correlation?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,535
  • Sep 3, 2013 6:32am Sep 3, 2013 6:32am
Quoting gsbharaj
i was studying the big picture planning by emmanuel. i want to know that do we also have to draw the support and resistances in H4 timeframe? i have done in MH,W and daily till now.
one of the things I do in big picture planning is to identify the significant swing points using the Monthly and Weekly charts timeframes because I trade 4H swing trades.

If you are trading intraday and scalping, I don't see the need and you can simplify things by using the Prev W Fibo and Prev D Fibo, the previous D OHLC and RN 00, 25, 50, 75. What you need to see is how the market reacts at these levels.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,536
  • Sep 3, 2013 6:39am Sep 3, 2013 6:39am
Quoting emmanuel7788
{quote} one of the things I do in big picture planning is to identify the significant swing points using the Monthly and Weekly charts timeframes because I trade 4H swing trades. If you are trading intraday and scalping, I don't see the need and you can simplify things by using the Prev W Fibo and Prev D Fibo, the previous D OHLC and RN 00, 25, 50, 75. What you need to see is how the market reacts at these levels.
i am planning to do h4 swing trading. so does the daily support and resistances play a role or should i concentrate on MH and W S&R?
Come tomorrow, I'll wake up new
  • #24,537
  • Sep 3, 2013 6:46am Sep 3, 2013 6:46am
and one more thing. do pivot points give us s & r like the big picture planning?
Come tomorrow, I'll wake up new
  • #24,538
  • Sep 3, 2013 6:51am Sep 3, 2013 6:51am
Quoting gsbharaj
and one more thing. do pivot points give us s & r like the big picture planning?
Pivots take the high low close and calculate the levels based on that, they are not based on S/R although they do often coincide with S/R.
  • #24,539
  • Sep 3, 2013 6:52am Sep 3, 2013 6:52am
Quoting gsbharaj
and one more thing. do pivot points give us s & r like the big picture planning?
what pivot points do you want to use?

Daily Pivots
Weekly Pivots
Monthly Pivots
Quarterly Pivots

which pivot calculation method do you want to use?
Standard
Woodie
Camarilla
Fibonacci
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,540
  • Sep 3, 2013 7:00am Sep 3, 2013 7:00am
Quoting emmanuel7788
{quote} what pivot points do you want to use? Daily Pivots Weekly Pivots Monthly Pivots Quarterly Pivots which pivot calculation method do you want to use? Standard Woodie Camarilla Fibonacci
i plan to use the weekly and the monthly pivot points so that i can swing trade accordingly. i use the pivot points provided in the indicator autopivotindicator_ver5
Come tomorrow, I'll wake up new
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