What an ugly market the past 2 days eh? | Page 3 | Forex Factory

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What an ugly market the past 2 days eh?

  • #41
  • Oct 17, 2014 7:01pm Oct 17, 2014 7:01pm
this has nothing to do with trading psychology here people. the market comes in cycles sometimes it ranges sometimes it trends sometimes it pulls back etc etc. that's not the problem. i'm just saying the past 2 days have been random and a little absurd?
  • #42
  • Oct 17, 2014 7:04pm Oct 17, 2014 7:04pm
Quoting Magix
{quote} Is your EURUSD chart different than mine? {quote} Or are we just seeing things under different optics? Look at a faster perspective... Can you see where the sellers were, and where the buyers sat? Supply Demand That's all I'm saying... {image}
thats a different chart. I'm only on the gbpjpy you posted. price had crossed underneath the moving average and was in a downtrend and you bought there without confirmation to me. The time to buy would've been if it's on the other side otherwise it's too early. This isn't about who's right and who's wrong.
  • #43
  • Oct 17, 2014 7:09pm Oct 17, 2014 7:09pm
Quoting justin7
{quote} thats a different chart. I'm only on the gbpjpy you posted. price had crossed underneath the moving average and was in a downtrend and you bought there without confirmation to me. The time to buy would've been if it's on the other side otherwise it's too early. This isn't about who's right and who's wrong.

No. I didn't.

You just don't have an idea of when I bought or why.

I bought at Close Price from the previous session, which as it turns out, Frankie sold down to for London Open, for a buy opportunity.

These trades were 100% based on session trading...nothing more.

The market created a new high during a Non London session, I bought assuming that London would retest the HOD from the previous day, into End of Week.

Again, your optics...now you are basing on what you think I see vs what I actually traded on.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #44
  • Oct 17, 2014 7:14pm Oct 17, 2014 7:14pm
maybe you are talking about all those JPYs, in which I am.
Yes, they stopped or paused in the past two days.
In fact, as I see, those JPYs are not in trend in the past one year, except USDJPY (which I am not in).
  • #45
  • Oct 17, 2014 8:16pm Oct 17, 2014 8:16pm
Quoting Magix
{quote} No. I didn't. You just don't have an idea of when I bought or why. I bought at Close Price from the previous session, which as it turns out, Frankie sold down to for London Open, for a buy opportunity. These trades were 100% based on session trading...nothing more. The market created a new high during a Non London session, I bought assuming that London would retest the HOD from the previous day, into End of Week. Again, your optics...now you are basing on what you think I see vs what I actually traded on.
I see the buy levels from your orders
  • #46
  • Oct 17, 2014 8:23pm Oct 17, 2014 8:23pm
Attached Image (click to enlarge)
Click to Enlarge Name: dragonclose.png Size: 33 KB
  • #47
  • Oct 17, 2014 8:42pm Oct 17, 2014 8:42pm
Quoting justin7
{quote} I see the buy levels from your orders
Do you?

Because here they are.

Tell me where the trend changed...

When price retraced back to London Close, and this is where London Opened, I bought...

Quoting Magix
{quote} No. I didn't.
I bought at Close Price from the previous session, which as it turns out, Frankie sold down to for London Open, for a buy opportunity. These trades were 100% based on session trading...nothing more.
The trend was long, went above London Highs, and I traded based on the idea that London would retest highs.

1. How is this not confirmation of trend?
2. When do you see the trend going from Long to Short?
3. Do you really understand the levels I bought?
Attached Image (click to enlarge)
Click to Enlarge Name: London.png Size: 29 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #48
  • Oct 17, 2014 9:12pm Oct 17, 2014 9:12pm
Quoting Robertk
Beautiful logical market this week actually. We had a huge uptrend in dollar index past couple of months without a single decent pullback.. It was only to be expected to have heavy consolidation after such a period.

Exactly. After such dollar strength, we were due to have a big "correction". Needed to clear the train and prepare to leave the station again.
  • #49
  • Oct 17, 2014 9:21pm Oct 17, 2014 9:21pm
Quoting Magix
{quote} Do you? Because here they are. Tell me where the trend changed... When price retraced back to London Close, and this is where London Opened, I bought... {quote} The trend was long, went above London Highs, and I traded based on the idea that London would retest highs. 1. How is this not confirmation of trend? 2. When do you see the trend going from Long to Short? 3. Do you really understand the levels I bought? {image}


Nice Magix. Good to see you around buddy.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #50
  • Oct 18, 2014 12:13am Oct 18, 2014 12:13am
Quoting Magix
{quote} 1. How is this not confirmation of trend? 2. When do you see the trend going from Long to Short? 3. Do you really understand the levels I bought? {image}
1) it isn't confirmation because if you bought in the middle where london open is with the circle then to me you are buying once the trend is broken almost like you're betting against the market that this move will not continue. I posted on my chart where the buy order could have been placed.

2) at london open price has broken below both the slow and the fast MA's. It is no longer an uptrend at the point in which you buy. The buy orders were placed off of a fakeout betting that it will end up being a fakeout to me which to me can be dangerous.

3) I understand chart patterns and technical analysis yes.

I understand that you say that London retested the close from the previous day but as I said to me it should have waited until price crossed back over the MA's
  • #51
  • Oct 18, 2014 4:31am Oct 18, 2014 4:31am
Quoting justin7
total complete ignoration of the fundamentals for 2 days straight along with 20-40 pip fakeouts and a bit of randomness. But the disregard for fundamental releases was the most i've seen for such an extended period. Usually it's one day followed by a fundamental release that takes it the intended direction. These past 2 days just haven't fit into anything at all to me
Market is almost always ugly , market tries to exhibit unpredictable behavior.
  • #52
  • Oct 18, 2014 5:43am Oct 18, 2014 5:43am
Quoting XharpScalper
{quote} Market is almost always ugly , market tries to exhibit unpredictable behavior.
why does everybody in here keeo saying this. I have no problem with the market. for the past few months i've taken the good with the bad. All I am referring to is the past 2 days..
  • #53
  • Oct 18, 2014 5:50am Oct 18, 2014 5:50am
Quoting justin7
{quote} why does everybody in here keeo saying this. I have no problem with the market. for the past few months i've taken the good with the bad. All I am referring to is the past 2 days..
Clearly you lost some money these days but thats nothing to worry about. If the market wouldnt had so called extremes everyone would be billionaire because one would know a 100% max deviation from the daily norm. Its good that the market is overshooting at certain times.
  • #54
  • Oct 18, 2014 7:16am Oct 18, 2014 7:16am
Quoting Robertk
{quote} Clearly you lost some money these days but thats nothing to worry about. If the market wouldnt had so called extremes everyone would be billionaire because one would know a 100% max deviation from the daily norm. Its good that the market is overshooting at certain times.
justin clearly has a bit of OCD. You can see that multiple times he said that all he's talking about is the last 2 days, and not the others, as if the market revolves around him and his perception of it. If he thinks that the market was random in the last 2 days, it must have been so for everyone.

I've seen this another time with him. Once he has a fixation, he won't let go of it no matter what.

This kind of behavior does not make for a profitable trader, who must be nimble and adapt to changing conditions.

He also doesn't get the fact that if the market followed the so called "fundamentals" all the time, like you said, we would all be billionaires, because we would buy the "good fundamentals" and sell the "bad fundamentals"
  • #55
  • Oct 18, 2014 7:19am Oct 18, 2014 7:19am
Quoting justin7
{quote} why does everybody in here keeo saying this. I have no problem with the market. for the past few months i've taken the good with the bad. All I am referring to is the past 2 days..
it clearly means that you lost some money in market that's why your saying that its ugly... if that's true then you need to protect your profits use a STOPLOSS.
  • #56
  • Oct 18, 2014 7:20am Oct 18, 2014 7:20am
Quoting justin7
total complete ignoration of the fundamentals for 2 days straight along with 20-40 pip fakeouts and a bit of randomness. But the disregard for fundamental releases was the most i've seen for such an extended period. Usually it's one day followed by a fundamental release that takes it the intended direction. These past 2 days just haven't fit into anything at all to me
Actually, fakeouts aren't fake and are only fake to people who really don't have a clue what they are looking at, they are to trigger the big market moving orders which mr retail can't see because he/she learned how to trade off babypips and other trading websites, which are all a load of bollocks.
  • #57
  • Oct 18, 2014 7:37am Oct 18, 2014 7:37am
Quoting Robertk
{quote} Clearly you lost some money these days but thats nothing to worry about. If the market wouldnt had so called extremes everyone would be billionaire because one would know a 100% max deviation from the daily norm. Its good that the market is overshooting at certain times.
I did yes on the last 2 days. I made nothing and lost nothing for the week. I was just venting and seeing if someone else agreed was all that this is a bit atypical.

I know what the market usually looks like but the past 2 days were some i hadn't seen in the past few months is all
  • #58
  • Oct 18, 2014 7:39am Oct 18, 2014 7:39am
Quoting Adal
{quote} justin clearly has a bit of OCD. You can see that multiple times he said that all he's talking about is the last 2 days, and not the others, as if the market revolves around him and his perception of it. If he thinks that the market was random in the last 2 days, it must have been so for everyone. I've seen this another time with him. Once he has a fixation, he won't let go of it no matter what. This kind of behavior does not make for a profitable trader, who must be nimble and adapt to changing conditions. He also doesn't get the fact that...
if you know what ocd is then it might be you that has it.

I did not say that the market always follows fundamentals. I am saying that the market has chosen to disobey them and be random for such an extended period the past 2 days to me. Usually it doesn't last this long. And as far as if it's bad for everyone else either that depends on their trading style. I know someone else that I chat with who was up big for the week too
  • #59
  • Oct 18, 2014 7:39am Oct 18, 2014 7:39am
Quoting XharpScalper
{quote} it clearly means that you lost some money in market that's why your saying that its ugly... if that's true then you need to protect your profits use a STOPLOSS.
I do. I don't bet against the market I accept what it does.
  • #60
  • Oct 18, 2014 7:40am Oct 18, 2014 7:40am
So many people on this forum seem to have a fixation with having an ego and proving they are right.
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