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  • #891,181
  • Apr 19, 2014 4:14am Apr 19, 2014 4:14am
Quoting attila
{quote} exactly as expected.. eh.. almost.. missed the 3800 by a couple of pips... crap, I have to do better in the future.. this charity thing is not paying for itself..
Missed by 5 pips, unforgivable
Don’t ever let someone tell you that you can’t do something.
  • #891,182
  • Apr 19, 2014 5:44am Apr 19, 2014 5:44am
Quoting Davit
{quote} Hi Chicky I tackled SL from 2 different ...{image}
Hi Davit, just wanted to thank you for that post, got me thinking on another tool for the kit, and I used yesterday to read up on it and create some charts for my favourite pairs. Cool stuff! And this one, too:

Quoting Davit
{quote} Hi srt My style of trading is not new.I took some ideas from the book "Bird Watching in Lion Country" and modified some to fit my Bollinger Band system. ... If for example you set aside $500 to short EU and make pip be .50 then you got 1000 pips to invest....

Great book. Nevertheless, a 0.5 lot gives you 100 pips to invest with a preset risk of 500$, right? 0.1 lot = 1 $/pip.

Regards, LD
Fail better.
  • #891,183
  • Apr 19, 2014 5:47am Apr 19, 2014 5:47am
Quoting godim
Here's a weekly chart. While the price is above the yellow axis (3846) will seek to reach the blue axis (4362). {image} Edit: The numbers will change on Monday. With the start of the new week.
Here's a weekly chart. While the price is below the yellow axis (3866) will seek to reach the blue TL (3734).
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The numbers will change on Monday. With the start of the new week
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #891,184
  • Apr 19, 2014 6:08am Apr 19, 2014 6:08am
Quoting attila
{quote} exactly as expected.. eh.. almost.. missed the 3800 by a couple of pips... crap, I have to do better in the future.. this charity thing is not paying for itself..
tried 3811 again (long) ..... what a magnet of a number.... Everybody wanting lower EU even Dragheee.... me thinks a huge trap being set
  • #891,185
  • Apr 19, 2014 6:28am Apr 19, 2014 6:28am
Quoting KillerWhale
if I played according to rules. I would have been out of this game 6 years ago. Most trades I see minus 10% on my net worth before I collect a net gain of 5%. And I'm still in the game since 2005. It's just how much tolerance do you have for losses that can turn into winnings. Of course Martingale System works. You just have to play this game @ the right place. Remember ....................... what goes up............................., always comes down.............................. sooner or later!
Yeah, the only question is, if your money management allows for a e.g. sigma 6 or sigma 10 event


But at the end of the day, even after such black swan events, I am sure, that everybody in FF made money at all

The meme goes like this:

when the price moves in my direction and I am right, I made big %-gains with a small move.

when the price went against me, and I kept on building new positions (martingaling etc.), and the sigma 10 event hit me, you know, the position was soooo tiny so that it did not hurt at all
  • #891,186
  • Apr 19, 2014 6:37am Apr 19, 2014 6:37am
Quoting needpips
{quote} tried 3811 again (long) ..... what a magnet of a number.... Everybody wanting lower EU even Dragheee.... me thinks a huge trap being set
well... as of right now, the yuro just entered consolidation.. watch the next couple of days closes in relation to 3820.. that will tell you which way it'll go when it starts moving.. my bias is still long up to the top there.
  • #891,187
  • Apr 19, 2014 6:43am Apr 19, 2014 6:43am
Quoting gatorinla
{quote} here.. all i see is the closer to 3957 is trap doors opening for bulls. bearish wedge formation and all.
{image}
Quoting gatorinla
{quote} just remember the wtf candle last month. we may bounce around here for months. the set up i have are early and either can put us back to 396x without a break of the high and still be valid. if it would break by a few pips, then a new low, it will just distort it a little.
Hello G
Man u make me busy keep calculate and think on my chart and levels last 2 days But practice is good , Like basketball players

Inserted Video

Checking High TF to know what's going on is first thing we need even we are smaller tf trading or day trading

Market has been changed last 2 years " since we got the first Leg down on chart "Indicator setting changed and fake signal increased"

Next 10 days things will b clear for long term , Now i sit back and relax with 1H And 30 min chart where i trading

@I could b wrong but i trading my own chart After all remember Market name Is MR Change

PS: Remember
NZD Official Cash Rate Apr 23
ECB President Draghi Speaks Apr 24
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  • #891,188
  • Apr 19, 2014 7:06am Apr 19, 2014 7:06am
Quoting attila
{quote} well... as of right now, the yuro just entered consolidation.. watch the next couple of days closes in relation to 3820.. that will tell you which way it'll go when it starts moving.. my bias is still long up to the top there.
I can make a case for it to move to 3880.... but who knows
  • #891,189
  • Apr 19, 2014 7:17am Apr 19, 2014 7:17am
[your farts. ffleo: Magix, I inhale, it's not sniffing, it's just breathing through my nose. Magix: Exactly, you sniff farts through a straw.... [/quote]


Why you dont PM your dirty thread or give you an appointement at the School Yard
Let the GOLD time Roll
  • #891,190
  • Apr 19, 2014 7:40am Apr 19, 2014 7:40am
I'd rather make money by making correct trading calls rather than all this martingaling bullshit. To me it appears to be a system designed to make up for shitty calls that works if you know exactly how to employ the system, but could end in tears if you take your eye of the ball for a second.

But then i guess if you get an entry wrong but are confident your trend analysis is correct then it can be used. Had a 3 week long recently where i fucked up entry but not trend direction. Underwater for 3 weeks with the whole forum screaming short but confidence and patience won out and i made a nice profit.

Hell, i might even start martingaling!

Only a little bit though.
It'll be alright on the night
  • #891,191
  • Apr 19, 2014 8:13am Apr 19, 2014 8:13am
Quoting Gaviscon3
I'd rather make money by making correct trading calls rather than all this martingaling bullshit. To me it appears to be a system designed to make up for shitty calls that works if you know exactly how to employ the system, but could end in tears if you take your eye of the ball for a second. But then i guess if you get an entry wrong but are confident your trend analysis is correct then it can be used. Had a 3 week long recently where i fucked up entry but not trend direction. Underwater for 3 weeks with the whole forum screaming short but confidence...
Perspective is everything...

Based on the idea that even a broken clock is going to be correct 2x per day is kind of how a lot of my software works.

If you continue to call longs every hour throughout a 24 hour period, unless we are in an exceptional market, you will probably be right a couple of times. In this, depending on how and when you take a position or a cost averaged position, it will either minimize the loss, or bring you a little profit..

True, I do things on an M1 basis, but if you read back through the conversation, it was under the general idea as to How Davit trades. Not necessarily Martingaling, but cost averaging or position adding. With enough range and enough positions and having some basic MM in mind, this allows him to be successful on multiple single direction trades based on a longer time frame.

These are trading strategies...

Just ideas as to how to allow winners to be great or losers to be felt with less impact.

What a lot of folk don't understand is how or when to apply subsequent positions. The conversation was opened to show the difference.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #891,192
  • Apr 19, 2014 8:23am Apr 19, 2014 8:23am
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  • #891,193
  • Apr 19, 2014 8:32am Apr 19, 2014 8:32am
Quoting Magix
{quote} Perspective is everything... Based on the idea that even a broken clock is going to be correct 2x per day is kind of how a lot of my software works. If you continue to call longs every hour throughout a 24 hour period, unless we are in an exceptional market, you will probably be right a couple of times. In this, depending on how and when you take a position or a cost averaged position, it will either minimize the loss, or bring you a little profit.. True, I do things on an M1 basis, but if you read back through the conversation, it was under...
That's the beautiful thing about trading (apart from trying to pull money out the market for yourself!) - there's so many different ways to do it. I currently only add to winners, but while i don't have the know-how to employ say your strategy (and thus would be taking on big risk) the conversation has opened a perspective on adding to losers to minimise losses i hadn't contemplated before.
It'll be alright on the night
  • #891,194
  • Apr 19, 2014 8:55am Apr 19, 2014 8:55am
Quoting Gaviscon3
{quote} That's the beautiful thing about trading (apart from trying to pull money out the market for yourself!) - there's so many different ways to do it. I currently only add to winners, but while i don't have the know-how to employ say your strategy (and thus would be taking on big risk) the conversation has opened a perspective on adding to losers to minimise losses i hadn't contemplated before.
I picked up on working with automated traders as a hobby...

You'd be surprised at how these can accelerate your learning curve on different trade strategies and triggering systems.

Through the use of M1 traders, you can see more in a week than other systems will allow you to accurately view in weeks and months. If you keep in mind that the market is fractal in nature, what can be applied to an hourly/daily strategy can be applied to any smaller time frame and have the ranges adjusted to keep in a similar trade pattern.

How do you know when to go long?
When you are finished longs, do you immediately load shorts?

Are you always in a trade?
If not, why not?

If you like buying something cheap and it presents cheaper, would you buy more?

These are some of the things you get to see in a limited time frame and through a different set of optics.

They just lend perspective and are tools that can not only be utilized for profiting, but also learning purposes.

You can see a lot of others posting ideas and logic that has no merit...then the sheeple logic kicks in, where ideas are dismissed by means of a consensus rather than actual information.

It is your account, nobody should tell you how and when to trade. But if there is information available, shouldn't you at least explore these for your own personal benefit and gain?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #891,195
  • Apr 19, 2014 9:07am Apr 19, 2014 9:07am
EURUSD Update

Technical: The tech picture remains pretty much the same, at least on the higher timeframes, on the smaller tf's there are few patterns inside other patterns posted here last week all indicating downside. Now the question is how to trade it if you are not in yet.
Ideally we could have a retracement from current levels to the weekly pivot or slightly above to the 1.3826 area and try to short it from there, you can combine with daily pivots as well and fib levels on hourly chart!
These below charts show what could be expected next week.
We have a Perfect Gartley sell 4 hours inside a possible ABCD on Daily and Butterfly on weekly with divergence. Any price action above the current resistance 1.3866 without lower first will make me start closing positions because then we might have something else coming.

Fundamental:The President of the ECB has finally talked about the exchange rate and it looks like any further appreciation will be dealt with easing policies.
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We watch the charts from every angle so you don't have to!!
  • #891,196
  • Apr 19, 2014 9:16am Apr 19, 2014 9:16am
After 6 years of trading It's like taking first steps to learning , I'm really surprised
Never Seen trader Like Jim Dalton He tell about Market structure , Time and trading logic"experience"
While reading his words feel like child open his eyes on new amazing world was always dreaming about
  • #891,197
  • Apr 19, 2014 10:20am Apr 19, 2014 10:20am
Quoting egkid
After 6 years of trading It's like taking first steps to learning , I'm really surprised Never Seen trader Like Jim Dalton He tell about Market structure , Time and trading logic"experience" While reading his words feel like child open his eyes on new amazing world was always dreaming about
First 5 years is only learning. Next 5 years practice what you have learn in the first 5 years so 10 years in total to become a successful trader. Forex is tough and boring business. Eurusd, for example, has been at this level for half an year. I admit that I did not make any profit. Only stop loss after stop loss, but that is how my EA trades. Those who can harvest hundreds pips during this stagnant period will not make much profit when the price move rapidly imo.

According to my tests, big trends only take up 20-30% of all trading sessions, while ranges and irregular PA takes up the rest 70-80%. For irregular PA, it is next to impossible to achieve profit.
  • #891,198
  • Apr 19, 2014 10:41am Apr 19, 2014 10:41am
Quoting mry2001
{quote} First 5 years is only learning. Next 5 years practice what you have learn in the first 5 years so 10 years in total to become a successful trader. Forex is tough and boring business. Eurusd, for example, has been at this level for half an year. I admit that I did not make any profit. Only stop loss after stop loss, but that is how my EA trades. Those who can harvest hundreds pips during this stagnant period will not make much profit when the price move rapidly imo. According to my tests, big trends only take up 20-30% of all trading sessions,...
What do u mean by successful trader?
If u mean not losing ur capital and make small profit "I do that since i started with real account not demo for 6 years"
one real account for 6 years the only big lose i got when i lost my mum and i try in trade after this. Bad psychology effecting ur trading much.

I mean we don't need much years to success. we got more knowledge and developing ur tech by years not to b success

It's like u go from X location to XB by walking and when grow u take bicycle and in youth take a bus and later train in all cases ur reach to ur point but In different time depends on ur experience and knowledge
  • #891,199
  • Apr 19, 2014 11:06am Apr 19, 2014 11:06am
Quoting egkid
{quote} What do u mean by successful trader? If u mean not losing ur capital and make small profit "I do that since i started with real account not demo for 6 years" one real account for 6 years the only big lose i got when i lost my mum and i try in trade after this. Bad psychology effecting ur trading much. I mean we don't need much years to success. we got more knowledge and developing ur tech by years not to b success It's like u go from X location to XB by walking and when grow u take bicycle and in youth take a bus and later train in all cases...
I trade live since the very beginning which I regret. Making money for a few months is not hard imo and I have done that many times. A problem may come many months after you start to gain profit. Your confidence and the market action may blow your account all of sudden. lol I blew one live account each year from 2006 to 2010. In 2010, I have gained 300% on a live account from March to October. But so what, one bad trade killed it. The reason that many people trade forex is to get rich faster and the greed behind this reason kill their accounts eventually. Making profit year after year is not easy even for professionals. By a successful trader, I mean full time trader and worry-free. It is like a dream job.
  • #891,200
  • Apr 19, 2014 11:08am Apr 19, 2014 11:08am
Quoting mry2001
{quote} big trends only take up 20-30% of all trading sessions, while ranges and irregular PA takes up the rest 70-80%. For irregular PA, it is next to impossible to achieve profit.
I was reading this while u tell about trend

We have defined a trend as a divergence of price away from value.While the divergence may last for an extended period of time, it will not
continue indefinitely—eventually price and value will reach an equilibrium.A trending market ends when price begins to auction back and
forth between two known reference points, forming a bracket or trading range. A new trend begins when price leaves the bracketed area and is
accepted over time.Many knowledegable professionals estimate that markets trend only 20 to 30 percent of the time. Failure to recognize this fact is one of the
main reasons why a large number of traders don't make money. Many of the popular technical systems are trend following systems that require
sustained price movement to be successful. As many traders are painfully aware, bracketed markets often move just fast and far enough to trigger
these trend following systems, then the potential move stalls and the market heads the other way.
It is evident by now that the trader colloquialism "the trend is your friend" is a misleading expression. It is true that during a trending
market, a trader can make a substantial profit if positioned with the trend. However, if a trader constantly employs a trend following system,
his chances of success during a bracketing market are greatly reduced. Therefore, as the market evolves from trend to bracket and back to trend
again, your trading strategy should change dramatically. Trends require a less active type of strategy; they need to be left alone. Because of their
strong convictional nature, profit expectations are relatively high. In a trending market, you put the trade on and then let the market do the rest
of the work. Brackets, however, require a closer, more hands-on approach.
The market moves in erratic spurts with no real longer term directional conviction. The prices that form the bracket's extremes provide
significant reference points by which to monitor future change, i.e.,
the start of a new trend, continuation of the bracketing process, and so forth. To successfully trade a bracketed market, you need to learn how to
identify the outer reaches of the bracket and then take gains quickly instead of "letting them ride." Monitoring how the market behaves around
these points of reference helps you gauge your profit expectations and adjust your trading strategy.
Knowing if a market is in a trend or a bracket is an integral part of a holistic market understanding. It is vital to formulating, developing, and
implementing your own trading time frame and strategy.
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