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  • #868,561
  • Jan 7, 2014 12:47pm Jan 7, 2014 12:47pm
Quoting Davit
{quote} 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
Hi Davit,
Yes of course you got more pleasure when you understand what's really going on etc… I do really love theories and theoreticians in every fields so that's great, but I really took the decision after some reflexion that I'll not try to put my head in macro economy, inflation rate, interest rates etc… I'm and I want to be a basic trader, there's is enough work for it, so I don't want to complicate. Just trying to be in profit every day is hard enough.
Basic trader but not a full dumb trader. I won't have a position in a currency if there is a speculation that there will be a modification in the interest rate for example. And I'll also not hesitate to take a small position tomorrow if I got a clear signal from my chart, event if it's 5 minutes before the FOMC release. If I'm wrong, it'll not kill me, and if I'm wrong (it happened more than one time when I traded FOMC) be sure that I'll look back to my charts for any indicia that the market gave me and I ignored. That's how I learn.

But, yes I agree you are right and I'm wrong. But I acknowledge that I'm wrong, so not totally wrong
Don't be smart. Be rich.
  • #868,562
  • Jan 7, 2014 1:03pm Jan 7, 2014 1:03pm
Quoting Ken A
{quote} LOL
Isn't it the first step of the learning path ?
Don't be smart. Be rich.
  • #868,563
  • Jan 7, 2014 1:03pm Jan 7, 2014 1:03pm
new signal to sell to 1,3622 ... see if it is valid
  • #868,564
  • Jan 7, 2014 1:25pm Jan 7, 2014 1:25pm
Pretty easy that this will crash down.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot from 2014-01-07 20:24:09.png Size: 12 KB
  • #868,565
  • Jan 7, 2014 1:45pm Jan 7, 2014 1:45pm
Picture is worth 1000 words.

Notice any similarities?

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 29 KB
  • #868,566
  • Jan 7, 2014 1:48pm Jan 7, 2014 1:48pm
Quoting Davit
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.
and he invented "kangaroo tail", "big shadow", "wammies and moolahs".
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #868,567
  • Jan 7, 2014 1:50pm Jan 7, 2014 1:50pm
the only number that matters is 3652 and how far and how long price stays below it or above it. All others are irrelevant.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #868,568
  • Jan 7, 2014 1:55pm Jan 7, 2014 1:55pm
Quoting ffleo
{quote} and he invented "kangaroo tail", "big shadow", "wammies and moolahs".

he just renamed classic patterns
In trading, you have to be defensive and aggressive at the same time
  • #868,569
  • Jan 7, 2014 2:01pm Jan 7, 2014 2:01pm
Quoting Orientxpress
Picture is worth 1000 words. Notice any similarities? {image}


How do you find same patern,I always looking for a past patern but it's not easy...is there some tool or?
  • #868,570
  • Jan 7, 2014 2:13pm Jan 7, 2014 2:13pm
Quoting Orientxpress
Picture is worth 1000 words. Notice any similarities? {image}
3 things ;

the background

up bars = green

down bars = red
Patience is a virtue...
  • #868,571
  • Jan 7, 2014 2:13pm Jan 7, 2014 2:13pm
Quoting Beli
{quote} How do you find same patern,I always looking for a past patern but it's not easy...is there some tool or?
I didn't use any programs... Just screenshot / copy / paste by what I saw.

Probably not the best way, but I am no programmer.
  • #868,572
  • Jan 7, 2014 2:15pm Jan 7, 2014 2:15pm
Quoting hadox
{quote} 3 things ; the background up bars = green down bars = red

  • #868,573
  • Jan 7, 2014 2:15pm Jan 7, 2014 2:15pm
Quoting attilafx
Pretty easy that this will crash down. {image}

indeed.. as long as below 1.3650--
anyway, very clear and sharp graphic from you.. as always..
  • #868,574
  • Edited 3:23pm Jan 7, 2014 2:58pm | Edited 3:23pm
Quoting Ken A
{quote} Still in from the day E/U spike to 1.39 but have partialed the E/A shorts {image}

EUR/CHF play looking kind of dangerous, seems really strong, I know the pair is normally very sideways though.

1.2420 seems safer entry
  • #868,575
  • Jan 7, 2014 3:48pm Jan 7, 2014 3:48pm
Haloa and happy new year at all
  • #868,576
  • Jan 7, 2014 4:45pm Jan 7, 2014 4:45pm
Quoting Ck87
{quote} EUR/CHF play looking kind of dangerous, seems really strong, I know the pair is normally very sideways though. 1.2420 seems safer entry
I don't like EUR/CHF to trade but can help for trading other pairs.
  • #868,577
  • Jan 7, 2014 4:50pm Jan 7, 2014 4:50pm
Last night I got out of euro short at the last moment before it started moving up again. Today's price action just shows what the euro does when it cannot reach a level which is a technical necessity - it cannot even go the other way. So I predict it will keep this routine intact, maybe even go down some 100 pips or so. But watch out, because it will always look for an opportunity to whipsaw 150 pips or more to touch 1.37 before being able to go down real hard.

As for me, I am trading it on M15s with high leverage (both ways) but my long term short position will remain small until it hits 1.37. Will keep a big limit order at that level.
The price will go where it has to go.
  • #868,578
  • Jan 7, 2014 4:57pm Jan 7, 2014 4:57pm
Quoting mitrapips
Last night I got out of euro short at the last moment before it started moving up again. Today's price action just shows what the euro does when it cannot reach a level which is a technical necessity - it cannot even go the other way. So I predict it will keep this routine intact, maybe even go down some 100 pips or so. But watch out, because it will always look for an opportunity to whipsaw 150 pips or more to touch 1.37 before being able to go down real hard. As for me, I am trading it on M15s with high leverage (both ways) but my long term short...

agreed
  • #868,579
  • Jan 7, 2014 5:33pm Jan 7, 2014 5:33pm
Who is going to UJ in a few candles from now?
The price will go where it has to go.
  • #868,580
  • Jan 7, 2014 6:23pm Jan 7, 2014 6:23pm
Well, yes, the ride down might earn quite a few tens of pips.

Quoting mitrapips
Who is going to UJ in a few candles from now?
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