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WaveMaster's EUR/USD Outlook

  • #41
  • Aug 9, 2006 12:50am Aug 9, 2006 12:50am
I just saw how I miscounted from an earlier count. I got distracted after getting booted from my ISP. Trade still good.
  • #42
  • Aug 9, 2006 1:20am Aug 9, 2006 1:20am
Loosing confidence. My previous bullish count is now looking valid.
  • #43
  • Aug 9, 2006 1:23am Aug 9, 2006 1:23am
Looks like a wave 3 impulse, not a correction.
  • #44
  • Aug 9, 2006 1:24am Aug 9, 2006 1:24am
Stopped 1.2830
  • #45
  • Aug 9, 2006 1:46am Aug 9, 2006 1:46am
If it stays under 1.2830 I see it as wave 3 and favor buying dips. Previous bullish count in play. Time for sleep.
  • #46
  • Aug 9, 2006 9:17am Aug 9, 2006 9:17am
Quoting WaveMaster
Because I see the truncated 5th as a wave C.

Favor shorts 1.2805/25

Thanks Turbo
well yea but 5 waves must be followed by a 3 wave correction. It confirms your views.

there would be a wave x up then a wave 1 down. or a running or expanding flat while market bears and bulls fight it out.

not trying to counter you view actually supporting it. I didn't see it a truncated wave 5. But now that you mentioned it I can see that.

Dave

Dave
  • #47
  • Aug 9, 2006 9:39am Aug 9, 2006 9:39am
OK I found out what happened with last nights trade, I called my broker and asked them if they were trading against me and they said yes!


Quoting xxDavidxSxx
well yea but 5 waves must be followed by a 3 wave correction.
Not if I saw the 5th wave as a wave C - then it would be followed by a motive wave.
  • #48
  • Aug 9, 2006 10:04am Aug 9, 2006 10:04am
There's quite a bit of added pressure trading in front of an audience, so I'm going to do some trading in private to help take the edge off.
  • #49
  • Aug 9, 2006 4:01pm Aug 9, 2006 4:01pm
Favor Longs 1.2840/20
  • #50
  • Aug 9, 2006 4:41pm Aug 9, 2006 4:41pm
Quoting WaveMaster
There's quite a bit of added pressure trading in front of an audience, so I'm going to do some trading in private to help take the edge off.
yes it is isn't it.

I started posting market analysis and fewer trades cause of this. I get worried about people using me for signals and taking losses on bad trades. And they might miss the good ones.

Makes you second guess yourself more. And mess up your own trades.

I feel ya on this one

Dave
  • #51
  • Aug 9, 2006 11:12pm Aug 9, 2006 11:12pm
I caught a modest long entry at 1.2865 (19:17 EST). It's moving just as I have been expecting so I feel I know exactly where it's at.

Last night's trade was garbage. It still has to do with how the NFP exaggerated that wave. I had the exact count prior to NFP and then my views were swayed.

I'm beginning to feel that starting this thread was a mistake. It's having a negative affect on my psyche. It's starting to feel like a job with responsibilities and pressure and stress and people depending on me. I've also been getting headaches which I don't normally get. The exact things I'm trying to get away from by becoming a successful trader. So I don't know if I'll be discontinuing it all together but I'll certainly be taking a break to think about it.
  • #52
  • Aug 10, 2006 12:00am Aug 10, 2006 12:00am
Quoting WaveMaster
I caught a modest long entry at 1.2865 (19:17 EST). It's moving just as I have been expecting so I feel I know exactly where it's at.

Last night's trade was garbage. It still has to do with how the NFP exaggerated that wave. I had the exact count prior to NFP and then my views were swayed.

I'm beginning to feel that starting this thread was a mistake. It's having a negative affect on my psyche. It's starting to feel like a job with responsibilities and pressure and stress and people depending on me. I've also been getting headaches which I don't normally get. The exact things I'm trying to get away from by becoming a successful trader. So I don't know if I'll be discontinuing it all together but I'll certainly be taking a break to think about it.
Mate at the end of the day you want to be stress free and have many pips. If anything is affecting that I would stop what ever it you changed step back and keep doing what ever it was you where doing even if that means ending this thread.

Don't compromise what works for you; cause it may not work for them.


turbo

trade smart
  • #53
  • Aug 10, 2006 8:38am Aug 10, 2006 8:38am
Quoting WaveMaster
I caught a modest long entry at 1.2865 (19:17 EST). It's moving just as I have been expecting so I feel I know exactly where it's at.

Last night's trade was garbage. It still has to do with how the NFP exaggerated that wave. I had the exact count prior to NFP and then my views were swayed.

I'm beginning to feel that starting this thread was a mistake. It's having a negative affect on my psyche. It's starting to feel like a job with responsibilities and pressure and stress and people depending on me. I've also been getting headaches which I don't normally get. The exact things I'm trying to get away from by becoming a successful trader. So I don't know if I'll be discontinuing it all together but I'll certainly be taking a break to think about it.
A very common thing to misplace blame when things don't go right for us in the market. Whether it be blamming a broker, or news like oil, or feeling responsible for people viewing you thread and worring about getting them in the right side of a trade. (the first 2 I am currently guilty of.) Some brokers are bad, true, the oil does effect the $ true, and feeling pressure to perform for an audiance true. But at the end of the day we are all adults and we are all responsible for our own actions.
Meanning, every one viewing our threads know the risk of taking our signals. Some times I'll post a view and then change my mind later. But I might not post that I changed my mind. Because I want to look back and see if my origonal view was correct or not. And often is. And often not. its 50/50 so far I think. You have concern for other who might be taking your trades, thats good means you have a heart. But If its cause of ego and you don't want to be wrong, then get out of forex.
A true trader has no ego, because he knows he will suffer losses. And if a bunch of people whome you've never seen befor looses 100k because of taking your trades, then o'well. They should take a corse, read a book, or get an account manager.

Don't worriie about being wrong. Nobody thinks less of you if you are. Its how well do you accept the losses between the winnings that earns the most respect.

When I first came here for 3 months I was 90+% accurate. Made me look like a champ. But I knew it wouldn't last. The law of averages would catch up to me. And it did. In a big way. I even took a 1 month break from the thread. But I learned, and grew, and returned with a different perspective.
I am no longer concerned with my winning % in my thread. Or if I post 5 bad trades in a row. Its all about perservierance. I don't post all or even most of my trades. Just an analysis and a few trades, win or lose.

Buck up soldier, treat this as a diary that nobody sees but you. Forget about the audiance. Just do your thing and don't feel bad if you didn't post that 200 pip win you just made. Or if you post those 10 losses in a row. Me and ItMe have many many losses posted mixed in with our winnings. But My account is growing and thats what really matters.
My posts are designed to make people think for themselves. I offer more than one direction possibility most of the time so either way I am right. weather or not I made the correct trade might or might not be on there.

Also this market is a b**ch right now. Throwing curve balls at me left and right. I read a post somewhere tuesday that said that person lost 400+ pips on the news fomc. He posted many trades on many pairs. And he took it like a man.

That distorted wave and your view of it would have still happened all the same if you were not here.

Do what you need to do to get your head streight but there are people out there that will bennifit from your view good bad or indifferent.

Hope something I said helped. Not trying to get under you skin or piss you off. I won't post any opinion in your thread any more if that helps. But if you need one it is here.

Dave
  • #54
  • Aug 10, 2006 8:46am Aug 10, 2006 8:46am
Quoting xxDavidxSxx
A very common thing to misplace blame when things don't go right for us in the market. Whether it be blamming a broker, or news like oil, or feeling responsible for people viewing you thread and worring about getting them in the right side of a trade. (the first 2 I am currently guilty of.) Some brokers are bad, true, the oil does effect the $ true, and feeling pressure to perform for an audiance true. But at the end of the day we are all adults and we are all responsible for our own actions.
Meanning, every one viewing our threads know the risk of taking our signals. Some times I'll post a view and then change my mind later. But I might not post that I changed my mind. Because I want to look back and see if my origonal view was correct or not. And often is. And often not. its 50/50 so far I think. You have concern for other who might be taking your trades, thats good means you have a heart. But If its cause of ego and you don't want to be wrong, then get out of forex.
A true trader has no ego, because he knows he will suffer losses. And if a bunch of people whome you've never seen befor looses 100k because of taking your trades, then o'well. They should take a corse, read a book, or get an account manager.

Don't worriie about being wrong. Nobody thinks less of you if you are. Its how well do you accept the losses between the winnings that earns the most respect.

When I first came here for 3 months I was 90+% accurate. Made me look like a champ. But I knew it wouldn't last. The law of averages would catch up to me. And it did. In a big way. I even took a 1 month break from the thread. But I learned, and grew, and returned with a different perspective.
I am no longer concerned with my winning % in my thread. Or if I post 5 bad trades in a row. Its all about perservierance. I don't post all or even most of my trades. Just an analysis and a few trades, win or lose.

Buck up soldier, treat this as a diary that nobody sees but you. Forget about the audiance. Just do your thing and don't feel bad if you didn't post that 200 pip win you just made. Or if you post those 10 losses in a row. Me and ItMe have many many losses posted mixed in with our winnings. But My account is growing and thats what really matters.
My posts are designed to make people think for themselves. I offer more than one direction possibility most of the time so either way I am right. weather or not I made the correct trade might or might not be on there.

Also this market is a b**ch right now. Throwing curve balls at me left and right. I read a post somewhere tuesday that said that person lost 400+ pips on the news fomc. He posted many trades on many pairs. And he took it like a man.

That distorted wave and your view of it would have still happened all the same if you were not here.

Do what you need to do to get your head streight but there are people out there that will bennifit from your view good bad or indifferent.

Hope something I said helped. Not trying to get under you skin or piss you off. I won't post any opinion in your thread any more if that helps. But if you need one it is here.

Dave
Excellent Words as advice. Bravo
  • #55
  • Aug 10, 2006 10:37am Aug 10, 2006 10:37am
OK I think I figured out what the problem was. I started this thread to simply express my views on the Euro not post my trades. The name of the thread is "WaveMaster's EUR/USD Outlook" not "WaveMaster's Play By Play Trading". I think what happened is after Khaled asked me (Post #3) if I would be posting my views in advance, there was something in me that made me change how I was going to run this thread. If you look at my response to his post you can see that posting my trades or giving trade recommendations was not what I had in mind. Perhaps it was my ego telling me "Let's post trades in advance so we can show everybody how good you are". Then I changed how I was posting and that's what caused all the trouble. So if you think about it it's all Khaled's fault! (joking). If I post my position after the fact it will be for the purpose of giving myself some credibility for being a trader not just a market analyst.

I woke up this morning and immediately felt the desire to come hear and say - That's it folks I see 1.2911 Aug 10 Midnight as a top it's all downhill from here. That's the type of thing that I'll mostly be doing.

David - I don't see how I was misplacing blame for my bad trade, I already said that it was my analysis. That comment about my broker was a joke. Oil? Umm, I don't remember every mentioning it. No, your post didn't bother me.
  • #56
  • Aug 10, 2006 10:50am Aug 10, 2006 10:50am
any thought on eur/usd going back up to 2900 and breaking
  • #57
  • Aug 10, 2006 10:52am Aug 10, 2006 10:52am
Quoting WaveMaster
OK I think I figured out what the problem was. I started this thread to simply express my views on the Euro not post my trades. The name of the thread is "WaveMaster's EUR/USD Outlook" not "WaveMaster's Play By Play Trading". I think what happened is after Khaled asked me (Post #3) if I would be posting my views in advance, there was something in me that made me change how I was going to run this thread. If you look at my response to his post you can see that posting my trades or giving trade recommendations was not what I had in mind. Perhaps it was my ego telling me "Let's post trades in advance so we can show everybody how good you are". Then I changed how I was posting and that's what caused all the trouble. So if you think about it it's all Khaled's fault! (joking). If I post my position after the fact it will be for the purpose of giving myself some credibility for being a trader not just a market analyst.

I woke up this morning and immediately felt the desire to come hear and say - That's it folks I see 1.2911 Aug 10 Midnight as a top it's all downhill from here. That's the type of thing that I'll mostly be doing.

David - I don't see how I was misplacing blame for my bad trade, I already said that it was my analysis. That comment about my broker was a joke. Oil? Umm, I don't remember every mentioning it. No, your post didn't bother me.
I am glad you worked it out. I'd hate to see a good trader leave. You seem to have a handle on e-wave. Though opinions may differ.

If you read back on my post the first 2 ( broker&oil comments) are what I was guilty of. Not you. I didn't read your broker comment. But I let oil news influance my trade and lost because of ignoring my own signals.

I too see a top in place. I am in short from 1.2840.

Happy trading and look forward to your opinions

Dave
  • #58
  • Aug 10, 2006 12:23pm Aug 10, 2006 12:23pm
adv9296

I saw that you asked this question in the EUR/USD thread to which I responded. And don't worry I know that you didn't have a chance to read my opinions before you posted your question. Thanks for asking.

http://www.forexfactory.com/forexfor...2579#post82579
  • #59
  • Aug 10, 2006 11:17pm Aug 10, 2006 11:17pm
Boring day today. Looks like we are about to finish wave B (1.2755/35) then it's up to C.



I noticed today that even if I'm going to post my trades after the fact there's still some added stress when trading. It's like having to hand in a report to the boss at the end of the day, and you better have a good report or else. I think it would be best to stop posting about my trading altogether and just give my opinions. I also realized that posting winning trades is ego/pride driven.
  • #60
  • Aug 11, 2006 9:33am Aug 11, 2006 9:33am
Looks like it's going to be a correction from 1.2715
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