Fail Better | Page 296 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

A better Editor for mql is available. 100x better than MetaEditor 20 replies

Broker needs to do better, much better 4 replies

Better momentum and better Sine wave indicator 0 replies

Mathematical reasons why MOST DayTraders & scalpers fail? 197 replies

Is Better still better? 1 reply

Attachments: Fail Better
Exit Attachments

Fail Better

  • #5,901
  • Nov 4, 2013 2:02pm Nov 4, 2013 2:02pm
Quoting Quidsey
Couple of charts to clarify. Location is a very important part of the discretionary nature of this strategy. {image} {image}

Hello Quidsey
When you say "time" how much time is a time interval ? Is there a minimum time ?
Do not be victim to conflict of the General and Commander in you - by FTI
  • #5,902
  • Nov 4, 2013 3:20pm Nov 4, 2013 3:20pm
Fair question and this is where the discretionary nature of these strategies shows up.
There is no min/max stated by Tom as far as I'm aware, (please correct me if anyone knows different).

The reasoning behind the "rounded" character of the retest simply put is to help avoid a fake or false breakout trap.

Experience, time, and a well kept journal help improve our discretion.
  • #5,903
  • Nov 5, 2013 6:42am Nov 5, 2013 6:42am
Quoting -Michael-
{quote} Hello Quidsey When you say \"time\" how much time is a time interval ? Is there a minimum time ?
For me it helped to "analyze" the setup - meaning that i assumed i'm on the wrong side of the fence. When do you get extremely nervous / relieved? Also think about the underlying order flow. When traders are trapped where is it the best to liquidate our winning position? Questions like that helped me to understand this setup "in depth" - and now (i think) i have a clue why this works. For all these "discretionary" things - ask these questions mentioned above

Stephen
It's all psychology...
  • #5,904
  • Edited 12:21am Nov 6, 2013 12:04am | Edited 12:21am
Guys/Gals

Not going to trade this but would anyone take this trade say if it was in the Euro (it's AudJpy so not a Tom trade)?

Would you take the SFP off the blue line or wait for it to SFP the orange line high or, indeed, wait for an SFP off the two highs to the left!

Edit: Lots of levels close below the SFP off the blue line.

Thanks to everyone contributing. All very helpful and much appreciated.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Nov. 06 05.58.gif Size: 20 KB
  • #5,905
  • Nov 6, 2013 12:38am Nov 6, 2013 12:38am
I would wait for the higher line ad I don't like the way price meandered up t that level previously I know it didn't make it up to the level but it looks to me like to wants to break it and is the 3rd time back now
  • #5,906
  • Nov 6, 2013 6:36am Nov 6, 2013 6:36am
Don't like the look of that Aussie FX, no big swing in and big swing away.

This is what I look for.
Attached Image (click to enlarge)
Click to Enlarge Name: Fail better.png Size: 42 KB
  • #5,907
  • Nov 6, 2013 3:33pm Nov 6, 2013 3:33pm
Nice Jim. I will trade smaller swings than that as long as they have the nice V shape and particularly if they are in the direction of the trend. In fact I find those set ups to be highly effective but unfortunately relatively rare
  • #5,908
  • Nov 6, 2013 4:54pm Nov 6, 2013 4:54pm
Quoting andyhardwick
Nice Jim. I will trade smaller swings than that as long as they have the nice V shape and particularly if they are in the direction of the trend. In fact I find those set ups to be highly effective but unfortunately relatively rare
Hello Andy,
I think a lot of people (or is it just me) are finding any setups pretty rare at the moment. The FX markets appear to be absolutely
horrible at the moment. I have been sitting on the sidelines.
  • #5,909
  • Nov 8, 2013 5:54am Nov 8, 2013 5:54am
Quoting JimN
{quote} Hello Andy, I think a lot of people (or is it just me) are finding any setups pretty rare at the moment. The FX markets appear to be absolutely horrible at the moment. I have been sitting on the sidelines.
You can always find some juicy setups
(Pound/Yen, nov 5th.)
That was some HUGE game! Rumors were all around the net, that UK news will be green. What shall we do guys? Behh, we need some liquidity to be able to reverse our positions. How about some stop hunting, and fading in? Then news are out and Bamm


Stephen
It's all psychology...
  • #5,910
  • Nov 8, 2013 2:18pm Nov 8, 2013 2:18pm
Quoting LamerTrader
{quote} You can always find some juicy setups (Pound/Yen, nov 5th.) That was some HUGE game! Rumors were all around the net, that UK news will be green. What shall we do guys? Behh, we need some liquidity to be able to reverse our positions. How about some stop hunting, and fading in? Then news are out and Bamm Stephen
Interesting, can you post a chart showing the setup please, for me and others. It is not obvious to me I'm afraid.
It is also a cross, but if it worked out, please enlighten us.

thanks
Jim
  • #5,911
  • Nov 8, 2013 4:04pm Nov 8, 2013 4:04pm
Quoting JimN
{quote} Interesting, can you post a chart showing the setup please, for me and others. It is not obvious to me I'm afraid. It is also a cross, but if it worked out, please enlighten us. thanks Jim
Any time
Have a nice weekend.
Stephen
Attached Image (click to enlarge)
Click to Enlarge Name: GJ.png Size: 215 KB
It's all psychology...
  • #5,912
  • Nov 10, 2013 3:48pm Nov 10, 2013 3:48pm
Quality analysis Lamer many thanks!
  • #5,913
  • Nov 11, 2013 2:14am Nov 11, 2013 2:14am
Quoting LamerTrader
{quote} Any time Have a nice weekend. Stephen {image}

Thank you LamerTrader for your analysis!
  • #5,914
  • Nov 11, 2013 1:33pm Nov 11, 2013 1:33pm
Just had to post this!
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_04 Nov. 11 19.32.gif Size: 37 KB
  • #5,915
  • Nov 13, 2013 5:47pm Nov 13, 2013 5:47pm
SFP on AUD/USD

closed for 70 pips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusddailysfp11132013.png Size: 31 KB
Click to Enlarge Name: audusdh11122013.png Size: 33 KB
  • #5,916
  • Nov 13, 2013 5:50pm Nov 13, 2013 5:50pm
Quoting Flamegs23
closed for 70 pips
Awesome
  • #5,917
  • Nov 13, 2013 5:55pm Nov 13, 2013 5:55pm
Quoting Flamegs23
SFP on AUD/USD closed for 70 pips {image} {image}

​ Bravo!
  • #5,918
  • Nov 14, 2013 3:02am Nov 14, 2013 3:02am
Quoting Flamegs23
SFP on AUD/USD closed for 70 pips {image} {image}
4th time back on the hourly??
  • #5,919
  • Nov 14, 2013 3:16pm Nov 14, 2013 3:16pm
I have a very naive question: What does SFP stands for? The SFP bar has to penetrate previous high or low before it closes below or above it?

Any answer will be greatly appreciated.
  • #5,920
  • Nov 14, 2013 4:12pm Nov 14, 2013 4:12pm
Your right but why not go back and actually read the thread you will benefit much more!
2 traders viewing now