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  • #18,941
  • Oct 28, 2013 2:32am Oct 28, 2013 2:32am
Quoting Martyfish
GM Guys, hope everyone had a great weekend. Just to note, the UK has had strong storms overnight, and there is widespread disruption to transport links to London. So LO may be quiet, as people have not been able to get to work
Been reading about the storms online Marty...I hope everyone is ok?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,942
  • Oct 28, 2013 2:48am Oct 28, 2013 2:48am
Quoting realjumper
{quote} Been reading about the storms online Marty...I hope everyone is ok?
Thx RJ, all is well at home here, but there are news reports of trees coming down, and quite a few flood warnings, but I think only 1 death so far.
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #18,943
  • Oct 28, 2013 2:55am Oct 28, 2013 2:55am
Quoting Martyfish
{quote} Thx RJ, all is well at home here, but there are news reports of trees coming down, and quite a few flood warnings, but I think only 1 death so far.
That's still 1 too many deaths. I hope everyone stays at home and stays safe......crazy weather this year!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,944
  • Oct 28, 2013 2:57am Oct 28, 2013 2:57am
Quoting Martyfish
GM Guys, hope everyone had a great weekend. Just to note, the UK has had strong storms overnight, and there is widespread disruption to transport links to London. So LO may be quiet, as people have not been able to get to work
I agree with Marty, buses are full and the tube is very congested too. I didn't dare to ride my "Ducati" (old pedal bike ) to the office due to the still strong wind and many trees on the streets. Trains and Overground wont' work until 9. It might be a slow start of the week.
Good judgement comes from experience, experience comes from poor judgement
  • #18,945
  • Oct 28, 2013 3:14am Oct 28, 2013 3:14am
Hi to everyone

hope all in the UK are ok

Looking at EA and maybe some good short opportunities coming in the next few days
1.4400 has been a pretty solid S/R zone for the last couple of months, in particular resistance, and its about 30 pips south since the last retest, and H4 stoch is in pretty good shape from OB for shorts.

Watching w interest.........not forming a bias.

J.
Winning isnt everything but coming second sucks (Charlie Brown)
  • #18,946
  • Oct 28, 2013 2:41pm Oct 28, 2013 2:41pm
Quoting jjre65
Hi to all A thought re M1 trading and debunking the myths that surround it......even though Im an M5 trader. We can trade the system on any TF, as has been proved and documented. The difference is in personal preference and trading style. I often open up my Marcel Link book to a random page and read a bit, for relaxation/revision, and he makes a relevant observation that if you looked at an M1 chart and a Daily chart, and the TF wasn't on the chart, you wouldn't be able to tell them apart....
Surely there is as much noise on M1 as D1 or Monthly....
JJ,

Interesting thoughts.

Agree re, TFs and PA; and TFs and personality. To a lesser extent on M1 noise, compared to (say) M30/H1 noise. It much easier to get chopped up on M1/M5 than it is on M15/M30.

The problem with deciding (fathoming out) what TFs suit your personality, can be a time consuming (expensive) process.

I think most new traders (ie less than 3 - 5 years experience) tend to over-estimate their capabilities ( I know I certainly did), so to make decisions on what TFs suit your personality, is an incredibly difficult decision to make.

I got fooled by the notion, that by trading lower TFs it speeds up your learning process. Dont think that helped me at all.

In fact spending all those early days of my forex career, getting chopped up on M5/M1 because of the damage to my confidence, probably wasted more time.

Probably better starting higher and then gradually working lower (if necessary), that way you gain in exercising disciline (waiting for a trade)
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #18,947
  • Oct 28, 2013 7:19pm Oct 28, 2013 7:19pm
Quoting Martyfish
{quote} Agree with all PM said. Re stoch question, it is not back and white, it depends on how strong the trend is, ie how many TFs are alligned. A major breakout, then M15 stoch cross will probably be weak, so ride it out Rangebound trade M15 cross will probably take out your stop, so exit. If your unsure, just exit on M15 cross, then re-enter if its crosses back in direction of trend
Thank you Marty, your comments are very helpful.
  • #18,948
  • Oct 28, 2013 7:33pm Oct 28, 2013 7:33pm
+32 short on GU

Had TP under BRN 1.6100 which I thought was hopeful.....................bang it went down to S2 in seconds

Good trade though, thats my weekly target hit.

J
Winning isnt everything but coming second sucks (Charlie Brown)
  • #18,949
  • Oct 28, 2013 7:38pm Oct 28, 2013 7:38pm
Quoting jjre65
+32 short on GU Had TP under BRN 1.6100 which I thought was hopeful.....................bang it went down to S2 in seconds Good trade though, thats my weekly target hit. J
Great trade J...
  • #18,950
  • Oct 28, 2013 7:41pm Oct 28, 2013 7:41pm
Quoting PipMonster1
{quote} Great trade J...
Cheers PM1

J
Winning isnt everything but coming second sucks (Charlie Brown)
  • #18,951
  • Oct 28, 2013 7:47pm Oct 28, 2013 7:47pm
Quoting Martyfish
{quote} JJ, Interesting thoughts. Agree re, TFs and PA; and TFs and personality. To a lesser extent on M1 noise, compared to (say) M30/H1 noise. It much easier to get chopped up on M1/M5 than it is on M15/M30. The problem with deciding (fathoming out) what TFs suit your personality, can be a time consuming (expensive) process. I think most new traders (ie less than 3 - 5 years experience) tend to over-estimate their capabilities ( I know I certainly did), so to make decisions on what TFs suit your personality, is an incredibly difficult decision...
Hi Marty

I think youre right about TF matching your trading personality.
Pushing where you dont feel comfortable is not a platform to work off.

Cheers J.
Winning isnt everything but coming second sucks (Charlie Brown)
  • #18,952
  • Oct 28, 2013 10:57pm Oct 28, 2013 10:57pm
Quoting Martyfish
{quote} JJ, Interesting thoughts. Agree re, TFs and PA; and TFs and personality. To a lesser extent on M1 noise, compared to (say) M30/H1 noise. It much easier to get chopped up on M1/M5 than it is on M15/M30. The problem with deciding (fathoming out) what TFs suit your personality, can be a time consuming (expensive) process. I think most new traders (ie less than 3 - 5 years experience) tend to over-estimate their capabilities ( I know I certainly did), so to make decisions on what TFs suit your personality, is an incredibly difficult decision...
I agree Marty but I'd like to add that the higher TF's do require a larger account. Usually SL's are wider so if you are undercapitalised you cannot trade the H4 or D but need to trade the lower TF's. Yes you can trade a much reduced position size but with a small account the return might not be worth the time. So if you trade the M1/M5 you have the ability to grow your account but you must have a good solid proven system to trade and risk your hard earned cash. Lucky for us we know where to find one of those....

Is M1/M5 the best place to cut your teeth well.....??? I cannot comment about cutting my teeth from lower TF's, as I started with Daily bars, my account wasn't huge but it was enough to place appropriate positions to a R:R basis and be worthwhile. Like J was saying if you covered the TF up and just looked at the bars and indicators you would get the same feel for how PA flows and how the indicators interact.....this is quite important.

Getting chopped up on the lower TF's isn't a waste of time in my books as it has built a more resilient and profitable Marty. No time is wasted it just moulds and shapes us to do things differently - think differently.

Like you were saying Marty each of us needs to find our own comfort level..........

PM1
  • #18,953
  • Oct 29, 2013 1:22am Oct 29, 2013 1:22am
Evening all....and interesting discussion going here...most excellent

Just a quick update for you who are biting your nails for the PDF....it will be finished tomorrow, and then I will send it to Wiz3003 and when he has giving it that magic Italian flair of his, I will post it here for you. So don't worry...it's progressing very well.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,954
  • Oct 29, 2013 1:30am Oct 29, 2013 1:30am
Just a word in your ears....

Fame Of Me is currently in hospital and she is quite a sick girl. She's in good hands and she will be fine in a couple of weeks. I can't expand much more on this because I have to respect her privacy, but I'm pretty sure that she will be checking in here for time to time. So send her you love, best wishes and healing thoughts......she needs it and will appreciate it. Thanks

And to you FOM......hurry back because the boys are going to take as many pips as we can while we have the chance!!
Attached Image
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,955
  • Oct 29, 2013 1:35am Oct 29, 2013 1:35am
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
Quoting realjumper
Just a word in your ears.... Fame Of Me is currently in hospital and she is quite a sick girl. She's in good hands and she will be fine in a couple of weeks. I can't expand much more on this because I have to respect her privacy, but I'm pretty sure that she will be checking in here for time to time. So send her you love, best wishes and healing thoughts......she needs it and will appreciate it. Thanks And to you FOM......hurry back because the boys are going to take as many pips as we can while we have the chance!! {image}

Hey! That's no good. All the best Fame!!! Now, let's have a look at GJ while she is away......sneak some pips.......Good health to you Fame!
  • #18,956
  • Oct 29, 2013 3:04am Oct 29, 2013 3:04am
If you read this FOM,

I wish you all the best, and a speedy recovery.

Our thoughts are with you
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #18,957
  • Oct 29, 2013 3:15am Oct 29, 2013 3:15am
Looking at GU and GJ....text book Frankie/London reversal just completed
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,958
  • Oct 29, 2013 3:45am Oct 29, 2013 3:45am
Our prayers and best wishes FOM, get well soon.
Let your plan trade for you, not your emotion!!!
  • #18,959
  • Oct 29, 2013 3:52am Oct 29, 2013 3:52am
We are missing you FOM and wishing you quick recovery. Get well soon!
Good judgement comes from experience, experience comes from poor judgement
  • #18,960
  • Oct 29, 2013 4:03am Oct 29, 2013 4:03am
All the best for a speedy recovery FOM................keep your spirits up!

Regards J
Winning isnt everything but coming second sucks (Charlie Brown)
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