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Why Simple is better in trading and Complex is not

  • #281
  • Nov 24, 2013 9:23am Nov 24, 2013 9:23am
Quoting shellsnail
{quote} H4 is only ridiculous if you don't know how to trade it I suppose (perhaps you haven't tried?)
Or maybe you haven't tried the alternative ??
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #282
  • Nov 24, 2013 9:26am Nov 24, 2013 9:26am
Quoting Turveyd
{quote} Or maybe you haven't tried the alternative ??
I never said M5 doesn't work, I use it all the time for intra-day.
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  • #283
  • Nov 24, 2013 9:28am Nov 24, 2013 9:28am
Quoting shellsnail
{quote} I never said M5 doesn't work, I use it all the time for intra-day.

That's okay then, H4 intraday traders are just moron's.


M1 was a tad to much detail, M5 is working well.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #284
  • Nov 24, 2013 9:36am Nov 24, 2013 9:36am
Quoting Turveyd
{quote} That's okay then, H4 intraday traders are just moron's. M1 was a tad to much detail, M5 is working well.
Honestly I don't think time frame matters. It's just data compression. Ultimately you are still trading price. if the trader uses H4 as his lens and spots the same set-up as you on m5, what's wrong with that?
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  • #285
  • Nov 24, 2013 9:41am Nov 24, 2013 9:41am
Quoting shellsnail
{quote} Honestly I don't think time frame matters. It's just data compression. Ultimately you are still trading price. if the trader uses H4 as his lens and spots the same set-up as you on m5, what's wrong with that?

Most are waiting for the candle to close, then they take a "reading" off OHLC like it means anything at all.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #286
  • Nov 24, 2013 9:43am Nov 24, 2013 9:43am
Quoting Turveyd
{quote} Most are waiting for the candle to close, then they take a "reading" off OHLC like it means anything at all.
For the way I trade, the opening price in my opinion is very important, especially the opening price of the 4hour and daily candles
  • #287
  • Nov 24, 2013 9:45am Nov 24, 2013 9:45am
Quoting Turveyd
{quote} Most are waiting for the candle to close, then they take a "reading" off OHLC like it means anything at all.
Hmm candle closes can matter not because they are some magical thing but because of how market sessions are divided. Often mid-sessions you may get reversals, and another edge is to fade strong moves into the 30min mark of each hour, one hour before london open (i.e. frankfurt) you often test asian high/low for a fakeout... Sometimes, sharp moves to the close of 4H candle as a shaved bar often leads to a violent reversal afterwards. So I would say the timing does matter somewhat if you find the edge and know what you are doing. Cheers.
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  • #288
  • Nov 24, 2013 9:47am Nov 24, 2013 9:47am
Quoting GDR3k
{quote} For the way I trade, the opening price in my opinion is very important, especially the opening price of the 4hour and daily candles
Yes opening prices too! Especially tokyo, london and NY open. price might test those before breakout.
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  • #289
  • Nov 24, 2013 11:12am Nov 24, 2013 11:12am
Quoting Turveyd
{quote} I find 9 pips silly to, sometimes that's all the market gives you but I to take 100+ pips of M5 trades, normally for risking 20-30. But I don't think your method, or you are profitable, your just a newbie who talks a good talk, IMHO!!! And yes, I find H4 based trades as totally ridiculous, they all end up being random chance trades, all the TA ( which is BS anyway ) doesn't get you anywhere, might aswell just flip a coin.


Are you call me a newbie?

By the way I have been clear I do not trade TA or FA
I have in the past and did ok I have just found for me a better way
AND YOU ARE THE ONE THAT TRADE TA

so if it is BS please check your shoes (r maybe your dippers)

random lol - really well my friend 5 mins or 4 hours its all random
By the way I trade Strength and Weakness.

if you wish to stay on this thread pls email me personally


cheers
  • #290
  • Nov 24, 2013 12:36pm Nov 24, 2013 12:36pm
Quoting TEB63
{quote} Are you call me a newbie? By the way I have been clear I do not trade TA or FA I have in the past and did ok I have just found for me a better way AND YOU ARE THE ONE THAT TRADE TA so if it is BS please check your shoes (r maybe your dippers) random lol - really well my friend 5 mins or 4 hours its all random By the way I trade Strength and Weakness. if you wish to stay on this thread pls email me personally cheers
Hey TEB,

I saw your other thread and would just like to ask, what are the factors you take into consideration when selecting strong/weak currencies?

sorry if this has been asked before.
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  • #291
  • Edited 1:20pm Nov 24, 2013 12:43pm | Edited 1:20pm
Quoting shellsnail
{quote} Honestly I don't think time frame matters. It's just data compression. Ultimately you are still trading price. if the trader uses H4 as his lens and spots the same set-up as you on m5, what's wrong with that?

I agree, TF is best chosen to match your availability and personality to the market. Meaning, I trade from Oceania and trading the hourly will take me in the middle of the night when the market is best moving (but I like to rest), I can trade the 5m tf for european open, but I make more mistakes than anything else staring at the chart. Daily suits me because I set my orders and go on doing what I like to do most….

This guy use to say: "if you find yourself anxiuos while taking a trade, you either did not find your style or you have not find yourself".
Wherever you go, there you are.
  • #292
  • Nov 24, 2013 12:43pm Nov 24, 2013 12:43pm
Quoting TEB63
{quote} I have been clear I do not trade TA or FA
Correct me if I'm wrong.

In general when we say "TA/FA technical/fundamental analysis," we are making up "stories/scenarios" that explain/predict the future PA (price action).
ig; something like "There is fib 61 and a support sitting on a big number, so, I expect the price will bounce there and change the trend. That is the market structure!"

See the point?

TA/FA is all about stories/scenarios that (we believe) is based on our theories (indicators, and whatnots).

Now, when you say you don't trade TA/FA, you don't tell a story/scenario.

Instead, you go like, "if SMA50 is downward and CCI turns down at 100, I go short."

See, you don't tell story. You just act upon your rule.

Sorry, if this is boring "language game." But I think here lies a key to overcoming weak mentality.

That is, You don't tell story=you don't predict/expect anything. You just act upon your rule=you just see/accept the result (success or fail).

This is THE SIMPLE WAY OF TRADING that we should pursue in this thread!!! (and this is what I'm trying to do)
  • #293
  • Edited 12:56pm Nov 24, 2013 12:46pm | Edited 12:56pm
Quoting Forexgogo
{quote} Correct me if I'm wrong. In general when we say "TA/FA technical/fundamental analysis," we are making up "stories/scenarios" that explain/predict the future PA (price action). ig; something like "There is fib 61 and a support sitting on a big number, so, I expect the price will bounce there and change the trend. That is the market structure!" See the point? TA/FA is all about stories/scenarios that (we believe) is based on our theories (indicators, and whatnots). Now, when you say you don't trade TA/FA, you don't tell a story/scenario. Instead,...
The irony in that is, to arrive at "You just act upon your rule=you just see/accept the result (success or fail)." you first need to go through understanding how everything works or at least develop a frame of reference that you are comfortable with. Ultimately we are all trading PRICE and TIME. It is the same market. But so many traders use different lenses to observe the same market and make (bad) decisions to arrive at (un)profitable outcomes. It's more like moving from conscious competence to unconscious competence. If you try to skip that step, you end up with incompetence. That's why you can give a working system to a newbie and he/she will not be able to trade it well because it will feel awkward trading something he/she is not comfortable with (in terms of risk parameters, types of trades, frequency of trades)/ does not understand how it works.
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  • #294
  • Nov 24, 2013 12:56pm Nov 24, 2013 12:56pm
Quoting shellsnail
{quote} The irony in that is, to arrive at "You just act upon your rule=you just see/accept the result (success or fail)." you first need to go through understanding how everything works or at least develop a frame of reference that you are comfortable with. Ultimately we are all trading PRICE and TIME. It is the same market. But so many traders use different lenses to observe the same market and make decisions to arrive at profitable outcomes. It's more like moving from conscious competence to unconscious competence. If you try to skip that step,...
Sorry no offense, but I'm afraid you misunderstood me.

I'm not saying you don't need basic knowledge and experience. ("basic" means "a lot")

My point is:
After you go through all that TA/FA, you no longer make up stories/scenarios b/c you don't need them.

Your rule is already loaded with your vast knowledge about trading.

Say, great guitar players don't analyze ongoing music; they just play cool licks by acting upon the music.
  • #295
  • Nov 24, 2013 1:04pm Nov 24, 2013 1:04pm
Quoting Forexgogo
{quote} Sorry no offense, but I'm afraid you misunderstood me. I'm not saying you don't need basic knowledge and experience. ("basic" means "a lot") My point is: After you go through all that TA/FA, you no longer make up stories/scenarios b/c you don't need them. Your rule is already loaded with your vast knowledge about trading. Say, great guitar players don't analyze ongoing music; they just play cool licks by acting upon the music.


sounds good to me.
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  • #296
  • Nov 24, 2013 2:32pm Nov 24, 2013 2:32pm
EURAUD
Attached Image (click to enlarge)
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  • #297
  • Nov 24, 2013 3:24pm Nov 24, 2013 3:24pm
ok how many Canadians on there - the grey cup is about to start

the difference to the USA game are a few
2 main ones
1. is our fields is bigger and we only get 3 downs,
  • #298
  • Nov 24, 2013 3:43pm Nov 24, 2013 3:43pm
Quoting GDR3k
EURAUD {image}

you are taking this trade
now under classical rules this is a flesh zone!!
  • #299
  • Nov 24, 2013 3:50pm Nov 24, 2013 3:50pm
Quoting TEB63
{quote} you are taking this trade now under classical rules this is a flesh zone!!
Sell limit waiting at 1.4824
  • #300
  • Nov 24, 2013 3:55pm Nov 24, 2013 3:55pm
Quoting GDR3k
{quote} Sell limit waiting at 1.4824

I like it its a great level if you drill down to the hour!
good luck
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