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As simple as possible: 00 level trading

  • #16,621
  • Aug 25, 2014 4:33am Aug 25, 2014 4:33am
NICE WORK Jibala,good consistent discipline is working well for you...
Whats That? you're trading What?
  • #16,622
  • Aug 25, 2014 4:47am Aug 25, 2014 4:47am
Hello,

at my brooker i can not see an news indicator. Can some one tell me which indicator i have to load
in order to see the newsindicator on the buttom on my metatrader screen ?

Thanks
  • #16,623
  • Aug 25, 2014 4:57am Aug 25, 2014 4:57am
Quoting Lrt.Ita
{quote} Technically, if I'm not wrong, analyzing the candlesticks i see an up hammer, that generally indicates uptrending strenght, followed by doji-like candle that should indicate some uncertainty. ....
All these hammer, hanging man, shooting star, inverted hammer are candles with a (much) longer wick on one side. I see it more important where the long wick is positioned. It can hint the same thing when it is positioned "outside" or "inside" the swing. Trends persist usually several periods while a long wick (on one side) indicates that the direction of the momentum changed (maybe several times) rapidly in that very same period. That is signal of weakening of a trend, PA becoming choppy.
Attached Image (click to enlarge)
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See the last hammer marked white at the top of the swing, and the one forming just now marked blue. The one on the top ie. after several periods in the trend with its wick IN the swing is rather a signal for the beginning of a retrace however the blue one forming at the bottom of a 3 candle retrace with the wick OUTSIDE the swing could more be a hint for continuation upwards for me.

On the other hand just as any others these long wick candles can "fail" see yellow ones.
  • #16,624
  • Aug 25, 2014 5:19am Aug 25, 2014 5:19am
Quoting Carpathian
{quote} All these hammer, hanging man, shooting star, inverted hammer are candles with a (much) longer wick on one side. I see it more important where the long wick is positioned. It can hint the same thing when it is positioned "outside" or "inside" the swing. Trends persist usually several periods while a long wick (on one side) indicates that the direction of the momentum changed (maybe several times) rapidly in that very same period. That is signal of weakening of a trend, PA becoming choppy. {image} See the last hammer marked white at the top...
Good comment!

Any candle formation can, does and will fail on a regular basis. They simply indicate little hints of possibilities that may or may not occur and can be seen as temporary resting areas of the market as it waits for the next push in a given direction.

What the astute trader needs to do with all these hints is to put all of these factors into the right context and make the trade that shows the higher probability of success.

Masterrmind.........
Master your Mind then Master your Trades
  • #16,625
  • Aug 25, 2014 5:29am Aug 25, 2014 5:29am
Can someone help me with the overlapping of the panels of FOREXSUPREMEMETER?
  • #16,626
  • Aug 25, 2014 5:34am Aug 25, 2014 5:34am
Quoting Masterrmind
.....What the astute trader needs to do with all these hints is to put all of these factors into the right context and make the trade that shows the higher probability of success. Masterrmind.........
Simple as it is! .................. If it were....
  • #16,627
  • Aug 25, 2014 5:43am Aug 25, 2014 5:43am
Quoting jasonhaw
Can someone help me with the overlapping of the panels of FOREXSUPREMEMETER?
It is answered already!

http://www.forexfactory.com/showthre...73#post7695673

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #16,628
  • Aug 25, 2014 6:09am Aug 25, 2014 6:09am
Quoting jasonhaw
Can someone help me with the overlapping of the panels of FOREXSUPREMEMETER?
you have set your windows display settings from 125% to 100%
  • #16,629
  • Aug 25, 2014 6:57am Aug 25, 2014 6:57am
Thanks to Carpathian and Masterrmind for the tips. The matter is that theres a lot of space between theory and real-time operativity.
For ecample I just missed 4 nice and profitable entries that i planned to take on xxxJPY crosses.. In the 20 min i was having lunch.
Then i entered on the stronger of those 4 pairs at the consecutive 00 lvl and it suddenly reversed against me.
I know it is a psychological matter, but in some periods it looks to me like everything i touch turns against me, lol.
At least this time i closed the trade manually avoiding a major loss.
I'm reading a book this days that in some chapters describes exactly what is happening to me in this stupid month.
("Trading in the zone", M.Douglas. Helpful!)

Lrt
"Every battle is won before it's fought."
  • #16,630
  • Aug 25, 2014 7:15am Aug 25, 2014 7:15am
Quoting JibalaPasan
{quote} Again a almost 100% chance to TP destroyed by TS! There was a very good chance the price will test the low again after retracement. Jibala
Hi Jibala;

It is clear that you do not use TS. And BE?

Thanks.
  • #16,631
  • Aug 25, 2014 7:21am Aug 25, 2014 7:21am
Trade #5 AJ TP.

Attached Image (click to enlarge)
Click to Enlarge Name: Ashampoo_Snap_2014.08.25_20h14m24s_010_.png Size: 73 KB


The only reason for that trade was a very strong JPY against the weak AUD.

Attached Image (click to enlarge)
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Patience again was the key!

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #16,632
  • Aug 25, 2014 7:25am Aug 25, 2014 7:25am
Quoting chaveznqoos
{quote} Hi Jibala; It is clear that you do not use TS. And BE? Thanks.
It is very clear even that I wont lose my opportunities to profit! TS and BE is a absolutely NO GO since I go for mere 5 pips only.

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #16,633
  • Aug 25, 2014 7:33am Aug 25, 2014 7:33am
Quoting Lrt.Ita
Thanks to Carpathian and Masterrmind for the tips. The matter is that theres a lot of space between theory and real-time operativity. For ecample I just missed 4 nice and profitable entries that i planned to take on xxxJPY crosses.. In the 20 min i was having lunch. Then i entered on the stronger of those 4 pairs at the consecutive 00 lvl and it suddenly reversed against me. I know it is a psychological matter, but in some periods it looks to me like everything i touch turns against me, lol. At least this time i closed the trade manually avoiding...
Yes Lrt,

There is a big difference between reading the theory, understanding the theory and successfully applying the theory to a dynamic market and making it all gel for consistent profit.

I wish there was a way to get you past the frustration that you feel but I can assure you that all of us "longer term" traders have had similar experiences to you and thinking that the market is against us and that every trade taken seems to be in the wrong direction.

The logic of trade success is really simple....just choose the trade that will hit TP before it hits SL and then repeat the process over and over...
Easy enough right?....

Nothing could be further from the truth .... it takes diligent learning and the right type of trading experience to survive in this market.

I really hope your continued diligent learning will bring you success.

Masterrmind..........
Master your Mind then Master your Trades
  • #16,634
  • Aug 25, 2014 7:40am Aug 25, 2014 7:40am
Very strong CHF a few minutes ago, >8.
Entered short on USDCHF @.500 and AUDCHF @.200.
Guess what?
Looks like I'm going to lose both .
See you after, bye!

Lrt
"Every battle is won before it's fought."
  • #16,635
  • Aug 25, 2014 7:41am Aug 25, 2014 7:41am
Trade #1

EURUSD +5 TP

Attached Image (click to enlarge)
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Comment: Not a trade to take usually when price is close to the DO but taken based on PA and is a riskier trade which meant I monitored it start to finish!

Masterrmind..........
Master your Mind then Master your Trades
  • #16,636
  • Aug 25, 2014 8:11am Aug 25, 2014 8:11am
2% done for the day
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  • #16,637
  • Aug 25, 2014 8:23am Aug 25, 2014 8:23am
Trade #6 NJ TP.

Attached Image (click to enlarge)
Click to Enlarge Name: Ashampoo_Snap_2014.08.25_21h17m37s_015_.png Size: 73 KB


Same procedure, strong JPY against weak NZD.

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #16,638
  • Aug 25, 2014 8:48am Aug 25, 2014 8:48am
Quoting Lrt.Ita
Thanks to Carpathian and Masterrmind for the tips. The matter is that theres a lot of space between theory and real-time operativity. For ecample I just missed 4 nice and profitable entries that i planned to take on xxxJPY crosses.. In the 20 min i was having lunch. Then i entered on the stronger of those 4 pairs at the consecutive 00 lvl and it suddenly reversed against me. I know it is a psychological matter, but in some periods it looks to me like everything i touch turns against me, lol. At least this time i closed the trade manually avoiding...
It is a very good book. ....I know this feeling.

By the way great russian scientists Pavlov and Uktomsky wrote about this.
This is a psychological condition and they called it "dominant".
If dominant is positive then all that you touch and think is absolutely wonderful and profitable.
If it's negative, even very very simple things, simple trades may look like it's against you.
Key words here "may look" they look like, but they really don't.

Actually our psychology paints things in different colours.
And if thing objectively positive, but we see it like negative, it tells us about our negative dominant.
It's one of important things in trading... and in our life.

When i have such condition, i try to imagine opposite.
If i can lose then i can win.

The problem is in our mind.

We weren't learned to be won.
Now we must leave this progam, make it's not actual.
And make actual positive program.
It's not only about trading. This program work every second in background.

You just can't start to think positive, when making your trades and when computer is off, forget about it and start to think negative again.
It's very dificult to make new positive dominant, that why 99.9% traders fails.

We have good trading systems, but if dominant is negative, the main thing we must to do is work with psychology, correct negative conditions and replace them with positives, transform them, make them more constructive.
It's a huge job and not many people ready to do this job, because it's difficult.

When we reading such things it's only book, we really don't understand completely what he is writing about.
Only when we start to find out our negative sides, not constructive thoughts, we can feel that necessary changes is very big.

I wish you to understand this important thing and very very very big patience.

I think the formula is not PDF and BCC, but PPP and PPP.
  • #16,639
  • Aug 25, 2014 8:49am Aug 25, 2014 8:49am
1 win
1 loss
Attached Image(s) (click to enlarge)
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  • #16,640
  • Aug 25, 2014 9:08am Aug 25, 2014 9:08am
Trade #7 NC TP.

Attached Image (click to enlarge)
Click to Enlarge Name: Ashampoo_Snap_2014.08.25_22h03m19s_016_.png Size: 77 KB


I guess you know it already! Although NZD was weak but CAD was weaker!

Done for today. Heavy rains again but its ok, it will cool down a bit at least.

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
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