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Quoting Tradezilla
{quote} This is a good strategy for daily or hourly trading, don't know if it works long term. Recall that the EURUSD for example tumbled from 1.5 to 1.082 in the last few months. So although it works in short terms, the longer terms are dominated by fundamentals and news, for example, major events such as ECB QE and other events can drive a pair from 1.5 to 1.1 or lower (add GREXIT and other issues).
Ok, but i read all that in the price action. Thats what it means to do technical analysis. I dont do fundamental analysis. Not my thing.
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Quoting Cobra
Not sure why you started this thread. Your typing does not make sense at all. In fact you sound as if you are on drugs or something.... If you wanna share something try to be consistent and structured. You are all over the place and I get the impression that your system is more based on luck than anything.... No offense meant.... Just irritating to follow......
Well all language is poetry to me. "Luck", well its a word like the other words. If you call this luck, so be it:

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If you want to you can have a go at finding the statistical chance of that many profits and one loss. So i guess you have a very personal defenition of "luck". I wont argue against that defenition, its yours to keep.
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Quoting Cobra
Not sure why you started this thread. Your typing does not make sense at all. In fact you sound as if you are on drugs or something.... If you wanna share something try to be consistent and structured. You are all over the place and I get the impression that your system is more based on luck than anything.... No offense meant.... Just irritating to follow......
Im thinking "Luck" is a matter of saying there is no way to compute all the variables in a specific outcome. Meaning one persons luck might be anothers computation or vice versa.

Was it luck that i met the woman of my life and had a son?
Was it luck that i started trading?
Was it luck that i didnt get shot that time by that guy in that apartment up in there?

Well, i dont know. I cant compute all the variables for those outcomes. Dont think i would use the word "luck" to desribe them though. Maybe i should, im not sure.
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  • Post #68
  • Quote
  • Edited 8:27am Mar 30, 2015 8:15am | Edited 8:27am
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Sell when it breaks a new low.
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So in essence: Look for a reason to sell.
Every possible opurtunity is a POSSIBILITY for a certain event to occur before it gets really boring.
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Quoting yaed
{image}
Yaed, well done.
Quoting TranceTrader
{image}
http://www.forexfactory.com/yaed#84-list
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Quoting k.k
{quote} Yaed, well done.
Im telling yah straight away here as i do it, just check the times. And you can see it live in the explorer.
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Im getting bored with some of those G/Y.

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Getting rich in trading has almost nothing to do with your entry points. It has everything to do with exit points, position sizing and position management. Read the FXCM study they did 4 years ago.

http://www.dailyfx.com/forex/education/trading_tips/daily_trading_lesson/2011/12/08/What_is_the_Number_One_Mistake_Forex_Traders_Make.html

New traders think getting the entry right is the biggest thing that matters. Just like Kenny Rogers said "Every hands a winner and every hands a loser". Your exit is much, much more important. Please post your exit strategies and I would be more than happy to give you feedback. Who cares about entry strategies. Flip a coin.
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