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Mastering the Art of Trading

  • #581
  • Sep 11, 2013 4:59am Sep 11, 2013 4:59am
Quoting sfk2k
hmmm...i got my SL hit pretty bad on EurGbp as well. I guess u really have to take news into consideration when trading with any method. It looked liked a perfect fakeout on EURGBP, and look what happened :.
I'd rather watch my trade management than the calender at FF, but then again that's just me

g.
I believe . . .
  • #582
  • Sep 11, 2013 7:01am Sep 11, 2013 7:01am
I never doubt about the power of this system,however i looked at your way of entrance,i wouldn't call it reliable,it's still a little ambiguous. I guess you need to work out on a better way of trade- entering.Despite that im giving you a thumb up. You had your original view towards the problem,thats what i liked,and thank you for sharing the system.wish it worked well.
  • #583
  • Sep 11, 2013 9:22am Sep 11, 2013 9:22am
Quoting myrong18
I never doubt about the power of this system,however i looked at your way of entrance,i wouldn't call it reliable,it's still a little ambiguous. I guess you need to work out on a better way of trade- entering.Despite that im giving you a thumb up. You had your original view towards the problem,thats what i liked,and thank you for sharing the system.wish it worked well.
What aspects of the entry still appear ambiguous and unreliable to you?

g.
I believe . . .
  • #584
  • Sep 11, 2013 9:32am Sep 11, 2013 9:32am
Quoting myrong18
I never doubt about the power of this system,however i looked at your way of entrance,i wouldn't call it reliable,it's still a little ambiguous. I guess you need to work out on a better way of trade- entering.Despite that im giving you a thumb up. You had your original view towards the problem,thats what i liked,and thank you for sharing the system.wish it worked well.
you must be a system trader, used to precise entries executed by an EA... the methods outlined in this thread are for discretionary traders... i am not knocking or suggesting one over the other, but you should know that two traders trading the exact same method may have slightly different entries when trading manually.
  • #585
  • Sep 11, 2013 9:44am Sep 11, 2013 9:44am
Quoting enochben
{quote} you must be a system trader, used to precise entries executed by an EA... the methods outlined in this thread are for discretionary traders... i am not knocking or suggesting one over the other, but you should know that two traders trading the exact same method may have slightly different entries when trading manually.
You are absolutely correct. But beyond the language barrier I am trying to gauge if he is actually confused about the entry part. There is discretion to the method, but I can't recall if I left the entry part so open as to literally confuse someone and make him feel insecure and uncertain. I am eager to seek some clarification from this dude.

g.
I believe . . .
  • #586
  • Sep 11, 2013 9:49am Sep 11, 2013 9:49am
Quoting ghous
{quote} You are absolutely correct. But beyond the language barrier I am trying to gauge if he is actually confused about the entry part. There is discretion to the method, but I can't recall if I left the entry part so open as to literally confuse someone and make him feel insecure and uncertain. I am eager to seek some clarification from this dude. g.
Look at the other of his 2 posts, and it is a similar theme. First comment is negative. I think you have been way clearer than most threads here.
  • #587
  • Sep 11, 2013 10:11am Sep 11, 2013 10:11am
allow me to inject my personal beliefs - no matter how good the method we as individuals must make the method our own or we will fail. So finding the sweet spot for entries is ultimately the job of each individual trader. Discretionary methods require you to think on your own.

i just read the following and think it might be applicable to trading - your on your own - there is nobody sitting over your shoulder saying "enter now"

I think the most profound thought from a recent Inc. Magazine interview with Paul Graham was his response to a question about bad habits shared by YC founders:

They don’t realize how independent they can be. When you’re a child, your parents tell you what you’re supposed to do. Then, you’re in school, and you’re part of this institution that tells you what to do. Then, you go work for some company, and the company tells you what to do. So people come in like baby birds in the nest and open their mouths, as if they’re expecting us to drop food in. We have to tell them, “We’re not your bosses. You’re in charge now.” Some of them are freaked out by that. Some people are meant to be employees. Other people discover they have wings and start flapping them. There’s nothing like being thrown off a cliff to make you discover that you have wings.

  • #588
  • Sep 11, 2013 11:49am Sep 11, 2013 11:49am
Many thanks for the vid Ghous! Very useful!!
  • #589
  • Sep 11, 2013 2:41pm Sep 11, 2013 2:41pm
Quoting enochben
allow me to inject my personal beliefs - no matter how good the method we as individuals must make the method our own or we will fail. So finding the sweet spot for entries is ultimately the job of each individual trader. Discretionary methods require you to think on your own. i just read the following and think it might be applicable to trading - your on your own - there is nobody sitting over your shoulder saying "enter now" I think the most profound thought from a recent Inc. Magazine interview with Paul Graham was his response to a question...
I do LOVE your quote.
To make the space of this post not a complete waste of time, I add my thoughts on this system:

  1. You NEED to be aware of potential news that could blow your stop to hell
  2. A general grasp on the sentiment about the pair would come in great help

You simply cannot completely ignore fundamentals, and oh how I whish it wasn't so!

  • #590
  • Sep 11, 2013 3:33pm Sep 11, 2013 3:33pm
Hi guys, correct me if I am wrong

1. EURGBP - It is confirmation of SFP
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-09-11_EURGBP_D1.jpg Size: 134 KB


2. AUDNZD. On weekly chart pinbar is still valid. On D1 if the price will break FTA @ 1.14 can go south
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-09-11_AUDNZD_W1.jpg Size: 103 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 2013-09-11_AUDNZD_D1.jpg Size: 125 KB


3. EURCAD. Looks like we will have large move..., but which side?
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-09-11_EURCAD_D1.jpg Size: 158 KB


4. GBPCHF. Price closed below previous closes. On the other hand the price is exactly @ FTA
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-09-11_GBPCHF_D1.jpg Size: 150 KB


5. CHFJPY
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-09-11_CHFJPY_D1.jpg Size: 150 KB
  • #591
  • Sep 11, 2013 5:13pm Sep 11, 2013 5:13pm
Hi guys, what do you think about this?

Attached Image (click to enlarge)
Click to Enlarge Name: Chart_NZD_USD_4 Hours_snapshot.png Size: 27 KB
  • #592
  • Sep 11, 2013 8:03pm Sep 11, 2013 8:03pm
Quoting dyscan
Hi guys, what do you think about this? {image}
Hey dyscan.... Why don't you look at the big picture....
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusddaily.png Size: 39 KB
80% effort, 20% luck
  • #593
  • Sep 11, 2013 10:27pm Sep 11, 2013 10:27pm
Great video Ghous.
I feel it will make a lot of new people much more comfortable, in the sense that, you have now given them a map with which they can navigate the shark infested waters with.
  • #594
  • Sep 11, 2013 11:52pm Sep 11, 2013 11:52pm
Great thread! Subscribed.

Any thoughts on EUR/GBP? Price tested LLS again and almost hit my stop.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbpdaily.png Size: 44 KB
  • #595
  • Edited 1:27am Sep 12, 2013 12:24am | Edited 1:27am
Here is a quick video I made to show how to quickly scan pairs and decide if they are potential setups or, discard them quickly.


Hope this helps someone.

Attached Image (click to enlarge)
Click to Enlarge Name: eurnzddaily.png Size: 63 KB



Is it just my computer or, is the first min of this video blurry?
Could be the download speed and the VPN that is causing it.
The blur starts when I move the control panel.


Inserted Video
  • #596
  • Sep 12, 2013 12:33am Sep 12, 2013 12:33am
Thanks everyone for contributing to this thread, I am finding all of the posts really informative and appreciate the time and effort people take to post comments and videos.
  • #597
  • Sep 12, 2013 1:09am Sep 12, 2013 1:09am
Heg g!

What's your opinion about the EG now? We had the fake-out. Didn't work out. I took some minor profit but thats all. Then we have another fake-out, and people are ignoring the fact, that the last fakeout didn't work out... (The reason could be the news on the pound yesterday...)

Or maybe this news were something, that the big guys just used to dump the rest of their orders on the floor. Unfortunately yesterday i was damn tired, so couldn't check the charts at market close...
It's all psychology...
  • #598
  • Sep 12, 2013 1:12am Sep 12, 2013 1:12am
hello all..

anyone still with eurogbp trade.. price move towards once again yesterday but failed to close below level 0.84000 and lls.. it almost hit my sl..
  • #599
  • Sep 12, 2013 1:30am Sep 12, 2013 1:30am
Please note that sentiment on EG is to the downside.
  • #600
  • Sep 12, 2013 1:39am Sep 12, 2013 1:39am
Quoting polter
Hi guys, correct me if I am wrong 1. EURGBP - It is confirmation of SFP {image} 2. AUDNZD. On weekly chart pinbar is still valid. On D1 if the price will break FTA @ 1.14 can go south {image} {image} 3. EURCAD. Looks like we will have large move..., but which side? {image} 4. GBPCHF. Price closed below previous closes. On the other hand the price is exactly @ FTA {image} 5. CHFJPY {image}
We have a few people inquiring about EUR/GBP. just couldn't get married to this setup despite the daily lining up with a weekly fake out too. For me the tiny fake out bar always seemed ill matched to the massive wedge breakout to the downside. And price pulling back to the LLS again just looks like another chapter from the same story as opposed to a really positive sign of the bullish fake out setup gaining strength.

More thoughts on the chart:

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.png Size: 41 KB


g.
I believe . . .
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