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  • #868,541
  • Jan 7, 2014 11:26am Jan 7, 2014 11:26am
Quoting forexings
{quote} A rebound possible in daily TF since it broke the upper channel. On the other hand (taper + RBA action) can push down the price even without consolidation.
It could.

IIRC, RBA will do nothing until February
  • #868,542
  • Jan 7, 2014 11:26am Jan 7, 2014 11:26am
Quoting attila
{quote} porn.. keeps you from looking at the charts.... kidding..

LOL... I'll do some cooking next time :-D
@pawpaw1000 on Twitter
  • #868,543
  • Jan 7, 2014 11:29am Jan 7, 2014 11:29am
Quoting attila
{quote} one or two invalids.. no, not really.. but it would make me look twice.. that's all...can't be that rigid..
Ah ok, after reading your post yesterday I decided to put in clear term what are my criteria for entering a trade, and it's more easily said than done… If you have a little of your time to offer me, I'd like to ask you few questions on creating a check list for a trade.

1) Do you give a different weight to different criteria. For example if one have 6 indicators, can we decide that indi 1 and 2 are the most important so 3 points if they give a green flag for entering an order. Indis 3 and 4, 2 points; Indis 5 and 6, 1 point. So if I've 8 points I can click on the button. That's the idea, do you think that's a good idea ?

2) Can we arrange indicators in Two categories : Majors and Minors. If Majors are all green, then ok for the trade; if in red, that's ok for not entering the order; but if yellow, then we look at Minor indis, and we decide if Minors are ok for the trade ?

Thank You
Don't be smart. Be rich.
  • #868,544
  • Jan 7, 2014 11:29am Jan 7, 2014 11:29am
Quoting pawpaw1000
{quote} LOL... I'll do some cooking next time :-D
anything that will make you ignore what's happening in the market before your criteria is met... I nap a lot.
  • #868,545
  • Jan 7, 2014 11:29am Jan 7, 2014 11:29am
Quoting Ken A
{quote} No I didn't short E/U it's a lazy pair useful as indicator only Shorted E/A around 1.5590 and E/CAD 1.48155 when E/U spike to 1.39. E/CAD has travelled over +400 pips one way while E/U is still ranging.
i buy slowly EA with tp 1.5465
Number of Days without an idiotic request: 0
  • #868,546
  • Jan 7, 2014 11:32am Jan 7, 2014 11:32am
625 as support with 675 in sight now
  • #868,547
  • Jan 7, 2014 11:33am Jan 7, 2014 11:33am
Quoting nowy
{quote} i buy slowly EA with tp 1.5465
Watch 1.529x = 38.2% of the last swing
  • #868,548
  • Jan 7, 2014 11:38am Jan 7, 2014 11:38am
Quoting maximinus
{quote} Ah ok, I'm trying to put in clear term what are my criteria for entering a trade, and it's more easily said than done… If you have a little of your time to offer me, I'd like to ask you few questions on creating a check list for a trade. 1) Do you give a different weight to different criteria. For example if one have 6 indicators, can we decide that indi 1 and 2 are the most important so 3 points if they give a green flag for entering an order. Indis 3 and 4, 2 points; Indis 5 and 6, 1 point. So if I've 8 points I can click on the button....

ahh.. so hard to tell.. but yes, giving different weighs is extremely important. problem is to know WHEN some are more important than others.. I really think the art of trading is knowing what to ignore and when... You can do a check list, but you can't have it in stone.. It just doesn't work like that.. then you would have a mechanical system and all you have to do is keep on going up/down with your leverage... pretty much a money machine..

as to indicators.. I'm not using any but when I used to, that's not how I would split them up.. What I was doing was using them on different time frames.. so If daylies are moving up from the bottom and they still have room to go, but h1 ones are topped, I would expect a retrace until the lower TF does its thing.. you can't use too many TFs either as you can get easily confused, especially when it comes to indis..
  • #868,549
  • Jan 7, 2014 11:39am Jan 7, 2014 11:39am
Quoting chazzle
625 as support with 675 in sight now
Probably done for to today not expecting a HH for E/U
  • #868,550
  • Jan 7, 2014 11:45am Jan 7, 2014 11:45am
for whoever is interested.... stop loss... most use it to Know when they're wrong and they expect to be right or wrong to the pip... that's just wasting your time imo.. a s/l should be used for uhmm.... stopping the loss...... Just place it where the price should have no business going..
  • #868,551
  • Jan 7, 2014 11:52am Jan 7, 2014 11:52am
Quoting attila
{quote} ahh.. so hard to tell.. but yes, giving different weighs is extremely important. problem is to know WHEN some are more important than others.. I really think the art of trading is knowing what to ignore and when... You can do a check list, but you can't have it in stone.. It just doesn't work like that.. then you would have a mechanical system and all you have to do is keep on going up/down with your leverage... pretty much a money machine.. as to...
Ok, Thank you.

Isn't it our dream

For me , the trend start with the 1 or 5 minute chart, not with the daily or weekly, even if I look at them of course. Basically, almost all my trades are for the very short terms, looking for 20 or 30 pips, that's enough for me. If I got a runner, that's fine, if not, then either it reaches my target or it goes in drawdown that I can manage or the worst I was wrong and i take my losses. I've a pretty basic approach of the market.

Looks like a good idea , will give a try.


Thanks.
Don't be smart. Be rich.
  • #868,552
  • Jan 7, 2014 11:56am Jan 7, 2014 11:56am
Quoting attila
{quote} . What I was doing was using them on different time frames.. so If daylies are moving up from the bottom and they still have room to go, but h1 ones are topped, I would expect a retrace until the lower TF does its thing.. you can't use too many TFs either as you can get easily confused, especially when it comes to indis..
The missing part in my quote.
Don't be smart. Be rich.
  • #868,553
  • Jan 7, 2014 11:57am Jan 7, 2014 11:57am
Quoting maximinus
{quote} Ok, Thank you. Isn't it our dream For me , the trend start with the 1 or 5 minute chart, not with the daily or weekly, even if I look at them of course. Basically, almost all my trades are for the very short terms, looking for 20 or 30 pips, that's enough for me. If I got a runner, that's fine, if not, then either it reaches my target or it goes in drawdown that I can manage or the worst I was wrong and i take my losses. I've a pretty basic approach of the market. Looks like a good idea , will give a try. Thanks.
short time frames are perfectly valid ways of doing this.. kuroro is an m5 guy and he's doing very well... I'm trading the lowers too sometimes, but I'm getting lazy, so I'm moving to h1 and up.. I have to somehow stretch it overnights because the ny session is pretty crappy as you can see..
  • #868,554
  • Jan 7, 2014 12:04pm Jan 7, 2014 12:04pm
Quoting attila
{quote} short time frames are perfectly valid ways of doing this.. kuroro is an m5 guy and he's doing very well... I'm trading the lowers too sometimes, but I'm getting lazy, so I'm moving to h1 and up.. I have to somehow stretch it overnights because the ny session is pretty crappy as you can see..
I have no time and no desire to understand the fundamental craziness of our ruling banksters, so I made mine Kill's philosophy : "Hit and Run Fast" I let the fundamental analysis for pundits.

Trading TY opening is fine since the new year.
Don't be smart. Be rich.
  • #868,555
  • Jan 7, 2014 12:06pm Jan 7, 2014 12:06pm
24 is what I'm watching again, but this is getting annoying and trading is probably over, so I'll take a nap. will check the daily close later..
  • #868,556
  • Jan 7, 2014 12:11pm Jan 7, 2014 12:11pm
Price is in clear range scalpers paradise.
MA's are compressing which usually results breakout either up or down.Key EMA 89 is acting as resistance (choc color)
Slow moving averages on daily majority are in Bear category except 200MA which is the institutional barometer.
To me Market is waiting for tomorrow's NFP results.
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #868,557
  • Jan 7, 2014 12:19pm Jan 7, 2014 12:19pm
Quoting maximinus
{quote} I have no time and no desire to understand the fundamental craziness of our ruling banksters, so I made mine Kill's philosophy : "Hit and Run Fast" I let the fundamental analysis for pundits. Trading TY opening is fine since the new year.

Hi Max

Reading on fundamentals is great because it gives you overall feel for the markets.This is the reason why I am bearish on GU and EU not what 1H candles are saying.I guess if you are a scalper does not matter unless you get caught in news release without your knowledge .To me knowing what's going on is important and should be automatic in trading no matter TF.


Regards
In trading, you have to be defensive and aggressive at the same time
  • #868,558
  • Jan 7, 2014 12:21pm Jan 7, 2014 12:21pm
Quoting attila
for whoever is interested.... stop loss... most use it to Know when they're wrong and they expect to be right or wrong to the pip... that's just wasting your time imo.. a s/l should be used for uhmm.... stopping the loss...... Just place it where the price should have no business going..

Agree! When you see the trade isn't working, get out, don't wait for SL to be hit.

I'll see you all at LO tomorrow, off to do some cooking and then finish my book:

http://www.amazon.com/Trading-Price-...9118842&sr=1-3
@pawpaw1000 on Twitter
  • #868,559
  • Jan 7, 2014 12:22pm Jan 7, 2014 12:22pm
I know lot of traders say "I trade without indicators" then have MA's on their chart and candles which is an indicator plus generous usage of fibs.Naked does not mean efficiency be default.
I read Walter Peters book "Naked Forex" which he used 25% of book content to say how naked trading is better then proceed 75% selling idea of double tops W M....In short total waste of time.
In trading, you have to be defensive and aggressive at the same time
  • #868,560
  • Jan 7, 2014 12:32pm Jan 7, 2014 12:32pm
Quoting pawpaw1000
{quote} Agree! When you see the trade isn't working, get out, don't wait for SL to be hit. I'll see you all at LO tomorrow, off to do some cooking and then finish my book: http://www.amazon.com/Trading-Price-...9118842&sr=1-3

That's not what Attila wrote.... so you are agreeing to yourself.

"Just place it where the price should have no business going.."
Atilla
In trading, you have to be defensive and aggressive at the same time
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