{quote} Wow.... These are for now and I have another suggestion for when you have finished....{image}
Those who say it cannot be done should not interrupt those who are doing it
- #71,921
- Jan 16, 2014 2:43pm Jan 16, 2014 2:43pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
- #71,923
- Jan 16, 2014 5:11pm Jan 16, 2014 5:11pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Those who say it cannot be done should not interrupt those who are doing it
- #71,924
- Jan 16, 2014 11:54pm Jan 16, 2014 11:54pm
{quote} How new are you? I mean were those your first two trades ever?
Before taking the said position..i did some analysis, if it can be termed as such, and found that 1.0680-90 is a good entry. By the way I read the first post ...very informative...
Thanks
- #71,925
- Jan 17, 2014 3:51am Jan 17, 2014 3:51am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
1. It is better to learn when "not" to trade rather than how to trade.
2. It is far easier to get the hang on higher time frames with very small lot sizes rather than small TFs with larger lots. You'll survive longer.
3. Trading is not what the brokers and trading schools make it out to be. It is a business of probabilities with high risk of loss and requires more risk management skills than anything else. As an example, a trader with a good mindset (does not trade on emotions) coupled with a sound risk management system can make money from the crappiest strategy. In contrast, no matter how good a technical strategy is, only traders with the above attributes will make money from it.
4. Before you learn how to run, you must first learn how to walk and that entails the risk management skills and the ability to identify the prevailing trend.
5. Always trade with the prevailing trend so that even if you enter too early, the trend will save your butt.
6. The prevailing trend will always be the prevailing trend until you have solid confirmation that the trend has reversed. (This requires experience as well as skill)
7. Never shoot your whole position size on your first entry. If you're buying a pair against support, only buy 1/5th or 1/4th of your position size and then scale in the rest in equal steps as the position moves against you or in your favor... of course always against support and not in the middle of nowhere.
8. Candlestick price action means nothing unless you see them reacting to significant support or resistance. Don't trade a shooting star if it is in the middle of nowhere.
There's more... much more, but that should give you a basic idea that much like the rest of us, no matter how much you know, you still know nothing.
Those who say it cannot be done should not interrupt those who are doing it
- #71,926
- Jan 17, 2014 4:12am Jan 17, 2014 4:12am
- Joined Oct 2009 | Status: Whn Market Warms u..U keep it Kool | 6,578 Posts
{quote} Some basic advice for you then. 1. It is better to learn when "not" to trade rather than how to trade. 2. It is far easier to get the hang on higher time frames with very small lot sizes rather than small TFs with larger lots. You'll survive longer. 3. Trading is not what the brokers and trading schools make it out to be. It is a business of probabilities with high risk of loss and requires more risk management skills than anything else. As an example, a trader with a good mindset (does not trade on emotions) coupled with a sound...
- #71,927
- Jan 17, 2014 5:52am Jan 17, 2014 5:52am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
{quote} Now a days I only trade when I see a co-relation of currency strengths like this. You can call it Harmonic co-relation Pattern. It appears and exists for one to two hours, you trade and you get away with profit. {image}
Happy new year bro
Those who say it cannot be done should not interrupt those who are doing it
- #71,928
- Jan 17, 2014 6:11am Jan 17, 2014 6:11am
- Joined Oct 2009 | Status: Whn Market Warms u..U keep it Kool | 6,578 Posts
{quote} Hey Rekon. Long time no see. I see you've been busy refining your strategies. Happy new year bro
- #71,929
- Jan 17, 2014 6:33am Jan 17, 2014 6:33am
{quote} . There's more... much more, but that should give you a basic idea that much like the rest of us, no matter how much you know, you still know nothing.
Short Euro and remaining that way. That's just the way it is !
- #71,931
- Jan 17, 2014 9:52am Jan 17, 2014 9:52am
- Joined Jun 2013 | Status: Trader | 3,071 Posts
Hello All, EU 1H Has some potential... {image}
And DXY is breaking out of a stealth bomber to help
- #71,935
- Jan 17, 2014 2:23pm Jan 17, 2014 2:23pm
- Joined Jan 2011 | Status: dump and pump | 4,055 Posts
All posts are my personal opinion
- #71,936
- Jan 17, 2014 3:06pm Jan 17, 2014 3:06pm
- Joined Jul 2013 | Status: Trader | 2,603 Posts
{quote} Some basic advice for you then. 1. It is better to learn when "not" to trade rather than how to trade. 2. It is far easier to get the hang on higher time frames with very small lot sizes rather than small TFs with larger lots. You'll survive longer. 3. Trading is not what the brokers and trading schools make it out to be. It is a business of probabilities with high risk of loss and requires more risk management skills than anything else. As an example, a trader with a good mindset (does not trade on emotions) coupled with a sound risk management...
Per aspera ad astra
- #71,937
- Jan 17, 2014 3:25pm Jan 17, 2014 3:25pm
- Joined Jul 2013 | Status: Trader | 2,603 Posts
{quote} You're always right and wise, Maestro.
Per aspera ad astra
- #71,939
- Jan 17, 2014 4:32pm Jan 17, 2014 4:32pm
- Joined Jan 2011 | Status: dump and pump | 4,055 Posts
All posts are my personal opinion
- #71,940
- Jan 18, 2014 5:02am Jan 18, 2014 5:02am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Those who say it cannot be done should not interrupt those who are doing it