Alexx90 ..... Thank you for the pdf. I will give it a read. Good to see you back.
Forex Trading Philosophy 362 replies
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DislikedHi Alessandro, Nice thread you started, agreed with most you mentioned, btw maybe I can learn something from you. I trade accumulation and distribution, Fibo, S/R, daily and weekly pivot for reference, I will like to know how you determine or justify your entry from the chart you posted? Or, which phase in what timeframe, you decide an entry is valid? Hope you can give me some guidance. As for the manipulation portion you brought up, I will like to share something in my personal opinion, Government and Central Banks are the only capable entity of...Ignored
Disliked{quote} Yes, there is intervention from the central banks. Some brokers do run stops, when volume is low. That's been going on is other markets for about as long as there have been stop loss orders. There are a few good brokers, and some that start good and end bad. Too much temptation to trade against your clients when you know they're wrong, or that you can move the market against them and make a quick profit! Finding a way to manage this kind of risk is a very important part of trading.Ignored
Disliked{quote} Yes, there is intervention from the central banks. Some brokers do run stops, when volume is low. That's been going on is other markets for about as long as there have been stop loss orders. There are a few good brokers, and some that start good and end bad. Too much temptation to trade against your clients when you know they're wrong, or that you can move the market against them and make a quick profit! Finding a way to manage this kind of risk is a very important part of trading.Ignored
Disliked{quote} Hi Juisen25, I'm guessing that you mean "broker" when you say "server". I don't know much about non-U.S. brokers because I live in the U.S. and almost no non-U.S. broker will open accounts for U.S. citizens because of CFTC restrictions. Since you're not in the U.S., most U.S. brokers do not apply those restrictions to your account. Non-U.S. Brokers: The only broker outside the U.S. that I might open an account with is unregulated, and located on a Caribbean island, PellucidFX. They have mostly good ratings on ForexPeaceArmy.com The founder,...Ignored
DislikedRegular trends are rare, a lot of swings where price goes one way and reverses in an hour or two. Trend trading is hard, a lot of people would agree.Ignored
QuoteDislikedHeck if it helped you to discover price action trading based on support, resistance, supply, demand, etc, etc. then GREAT.
QuoteDislikednew traders reading that should ignore it
Disliked{quote} {quote} I agree with both of the quotes, it did help me to learn a lot, and I realize that if a few years ago I knew what I know now... and I am happy about that, cause even if I consider current trading conditions as hard due to relatively low volatility, I am looking forward to "better" conditions, with increased market volatility. If I can manage now, I can manage later. Joe, you may be right about negative thinking, but it is not that, it is being realistic. I see how markets have changed over the past 4 years, I know it is nothing...Ignored
Disliked{quote} {quote} I see how markets have changed over the past 4 years, I know it is nothing disturbing, cause markets move in cycles, but my point is that a lot of people have started trading in the years of 2009-2011, and when volatility evaporated in the end of 2012, a lot of things that worked fine in the earlier years, simply ceased to give profit.Ignored
DislikedHi, I think that the market is much more complicated than just being a trap. Big market participants do not try to trap retail traders, though they may play against each other, trying to profit from other banks losses (in Forex money goes from one hand to another). One day bank X plays a trick on bank Y, and the other day bank Y has the upper hand. But plays a trick is not the correct word, its more about being right about the markets direction. To be right, each bank has to position itself early enough in the game (as mentioned, buy low sell high)....Ignored