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Mastering the Art of Trading

  • #821
  • Sep 25, 2013 5:27am Sep 25, 2013 5:27am
Quoting Pinbar
{quote} Thanks Ghous. Phew................You appear to be more than a little stressed there. Ever thought of leaving the place?
More than once. I will be making my move whenever I get the chance.

g.
I believe . . .
  • #822
  • Sep 25, 2013 5:53am Sep 25, 2013 5:53am
I am done with the USD/SEK trade.

This was a 1R trade.

Inserted Video


g.
I believe . . .
  • #823
  • Sep 25, 2013 6:57am Sep 25, 2013 6:57am
Great video.
Man, I would have been biting my nails there but, I see what you mean about sellers not really having any incentive to sell.
  • #824
  • Sep 25, 2013 8:33am Sep 25, 2013 8:33am
Quoting Pinbar
{quote} Is your broker using 5 digits? In which case it is actually 20 pips. See chart {image}
Well it is 5 digits, but Bid was around 9.54000 whereas Ask was around 9.56000. So 200 pip difference! It's about 40-50 pips spread now that there's "liquidity". I get 0.2pip spread on EU so I'll stick to more liquid pairs
  • #825
  • Sep 25, 2013 1:02pm Sep 25, 2013 1:02pm
Quoting Rinehart
Ghous or PinBar, what do you think about GBP.NOK? {image}
You can just look at this chart now, sit back and be be amazed at how important it is to make sure you have S/R dynamics in favor of you as opposed to being stacked against you.

A short off that fake out, and the following loss would make you feel pathetic because the market is doing something that it does all the time and you took a hit for it. Its hard to digest such losses. Been there, done that - far too often, before I understood I stood a zero chance in the "hope game"

It goes back to the video I did earlier on the reasons why people fail to be selective with their trading and how it can come back to hurt them.

PS not assuming nor suggesting that you took this trade Rinehart. Just using your post from earlier and the market behavior towards the setup to encourage people to be picky all the time.

g.
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I believe . . .
  • #826
  • Sep 25, 2013 4:12pm Sep 25, 2013 4:12pm
Nope, no trade opportunity for today Or did i miss sg? O.o
It's all psychology...
  • #827
  • Sep 25, 2013 4:21pm Sep 25, 2013 4:21pm
Ghous (or another subscriber), is there somewhere within this thread that i can find a definition of your commonly used terminology? i recognize most of the terms but not all of them and i was looking for some confirmation.
thanks
  • #828
  • Sep 25, 2013 5:00pm Sep 25, 2013 5:00pm
Hey Ghous and everybody,

CHFNOK

I am watching this one closely. Price is at a major swing high and has fired a fakey on the daily. Also, triple top with divergence.

The fakey bar has not yet closed below the brn 6.6. I am waiting for a close below 6.6 on 4 hr chart.


Neytiri
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  • #829
  • Sep 25, 2013 5:19pm Sep 25, 2013 5:19pm
Gous can you comment on this please. I have made comments on the trade on the chart.
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  • #830
  • Sep 25, 2013 5:26pm Sep 25, 2013 5:26pm
Quoting Neytiri
Hey Ghous and everybody, CHFNOK I am watching this one closely. Price is at a major swing high and has fired a fakey on the daily. Also, triple top with divergence. The fakey bar has not yet closed below the brn 6.6. I am waiting for a close below 6.6 on 4 hr chart. Neytiri {image}

Now that's what I call an exotic...
Don't have that one on my platform I'm afraid.

Ghous...Nice trade and video on that U/Sek
  • #831
  • Sep 25, 2013 6:55pm Sep 25, 2013 6:55pm
another fake out setup today, D1 just barely closed closed below HHS. Posted for discussion, ghous and pinbar please go at it
Because of the close FTA not a good trade to take I'm assuming. Just looking for more comments about the setup. Thanks
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  • #832
  • Sep 26, 2013 1:00am Sep 26, 2013 1:00am
Quoting forprofit
Ghous (or another subscriber), is there somewhere within this thread that i can find a definition of your commonly used terminology? i recognize most of the terms but not all of them and i was looking for some confirmation. thanks
I don't use as many terms as to actually compile them in a post or doc.

Maybe you could directly ask about the terms that weren't clear to you?

g,
I believe . . .
  • #833
  • Sep 26, 2013 1:08am Sep 26, 2013 1:08am
Quoting Neytiri
Hey Ghous and everybody, CHFNOK I am watching this one closely. Price is at a major swing high and has fired a fakey on the daily. Also, triple top with divergence. The fakey bar has not yet closed below the brn 6.6. I am waiting for a close below 6.6 on 4 hr chart. Neytiri {image}
WOW. I don't have that pair even on Fxpro.

I can't really comment much till I can actually get hold of it on a platform and get a chance to view it from all angles.

But based on what I see and read on that post you made, I would have preferred to see a longer wick on the fake out bar and a close below the RN of course.

g.
I believe . . .
  • #834
  • Sep 26, 2013 1:15am Sep 26, 2013 1:15am
Quoting raminfx
another fake out setup today, D1 just barely closed closed below HHS. Posted for discussion, ghous and pinbar please go at it Because of the close FTA not a good trade to take I'm assuming. Just looking for more comments about the setup. Thanks {image}
Totally agree that there isn't a lot of space. Also notice the very close on the fake out bar. It really only shows a test of the HHR but I don't see any major information there to support the idea of price hitting a block of sell orders. It might mean two things. 1) Price is not interested in fading that this swing high 2) The sellers are hidden at a higher price level. Either ways this is bad news if you want to be shorting the pair right now based off of that fake out.

These are literally the kind of setups that are the easiest to pass. No brainers really...

g.
I believe . . .
  • #835
  • Sep 26, 2013 1:54am Sep 26, 2013 1:54am
Ghous, CHFNOK is among the currency pair options available in LQD Metatrader 4


Neytiri
  • #836
  • Sep 26, 2013 2:24am Sep 26, 2013 2:24am
Quoting ghous
I am done with the USD/SEK trade. This was a 1R trade. http://www.youtube.com/watch?v=7k2FJ...ature=youtu.be g.
Very nice to see your thought process behind your trade! Really helpful. Thank you for that!
Price is what you pay. Value is what you get.
  • #837
  • Sep 26, 2013 3:15am Sep 26, 2013 3:15am
Quoting forprofit
Ghous (or another subscriber), is there somewhere within this thread that i can find a definition of your commonly used terminology? i recognize most of the terms but not all of them and i was looking for some confirmation. thanks

This will inform you a little of the basics.
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  • #838
  • Sep 26, 2013 4:11am Sep 26, 2013 4:11am
Quoting ghous
{quote} hey there, If we get a daily close above that LLS then yes you're looking at a fake out setup. But not one I would be too keen on taking as its really heading into a lot of mess for me. Lots of trouble areas and that consolidation box will make it painstakingly tricky (for me that is). {image} g.

Thanks for your input Ghous.

I've chosen to stay out as it's not the strongest set up.
  • #839
  • Edited 4:37am Sep 26, 2013 4:19am | Edited 4:37am
Quoting raminfx
Gous can you comment on this please. I have made comments on the trade on the chart. {image}
Here's my response. In video form to stress on the point of "working out the overall story behind a trade setup"

Inserted Video


g.
I believe . . .
  • #840
  • Sep 26, 2013 5:34am Sep 26, 2013 5:34am
Another disappointment after sitting on my hands watching this. Aghhhhh
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