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  • #1,022,361
  • Aug 25, 2015 10:52am Aug 25, 2015 10:52am
Quoting MissPips
Still bearish for me as long as magenta t/l is not broken http://www.forexfactory.com/showthre...28#post8389628 It bounced off of it yesterday, but I guess there will be a bounce when the break of the green weekly trend line is retested where everybody shorted in the yellow area, back toward the majenta trendline again. Waiting for that bounce to short it again. {image} {image}
And here's the bounce at the retest of the green trendline on the 5 min chart. Planning to look at the majenta trendline (both versions) for shorts.
Attached Image (click to enlarge)
Click to Enlarge Name: greenbounce.jpg Size: 577 KB
  • #1,022,362
  • Aug 25, 2015 10:57am Aug 25, 2015 10:57am
Quoting gatorinla
{quote} thats what i like.. honesty.. a 50/50 shot it will go one way or the other. so where do u enter and whats the stop. can you post date this to yesterday?
Better than 50%, not 50/50.. The probability is in your favour

Yes... i made the trade before the euro flew!
  • #1,022,363
  • Aug 25, 2015 10:58am Aug 25, 2015 10:58am
Quoting MissPips
{quote} Yeah, I have one version of the line that's like that (almost) but I don't trust it as much as the other version, because that spike high is an obvious fake out. When I see one of those I usually also do a version of the line where I go to a lower timeframe and take some off the spike by making the line fit as many points as possible near the start on the lower timeframe. And that one, in this case, was where it actually did turn. I know there are some people that dont trust trendlines and only use horizontal s/r because there are so many...
Thanks for the info MissPips.. I do not use them while trading but I have template to see daily longest one, time to time I am checking it as an old habit
  • #1,022,364
  • Aug 25, 2015 10:59am Aug 25, 2015 10:59am
Quoting gatorinla
{quote} thats what i like.. honesty.. a 50/50 shot it will go one way or the other. so where do u enter and whats the stop. can you post date this to yesterday? here is the 200 day one.. it did come back to the line.. the drawdown was only 2100 for 15 months.. {image}
wheres the fast and slow moving average on your chart?
  • #1,022,365
  • Aug 25, 2015 11:02am Aug 25, 2015 11:02am
Quoting gatorinla
{quote} this is the most useful trend line related to meta post i have witnessed in 8 years. if you trade with them, carve this post above in your forhead
Thanks, I used them at the past and almost every platform has same issue with trend lines.
Best way to use it if you draw one let say on daily than do not change TF and keep it safe
  • #1,022,366
  • Aug 25, 2015 11:04am Aug 25, 2015 11:04am
Quoting mkvy
{quote} Better than 50%, not 50/50.. The probability is in your favour Yes... i made the trade before the euro flew!
if you BS someone after the fact. set up a scam sight and do it. dont think people who actually trade. day in and day out or going to believe this crap. 50 50 is actually a great win rate if the reward can be calculated and proven to work in a multiple compared to loss. but you need a entry and a stop.. not a "it worked this time bs post i told you so" after the fact. post 10 of these beforehand, and get 5 right with r/r favorable. then u got something to build on.
those who can, do. those who cant, talk about those who can
  • #1,022,367
  • Aug 25, 2015 11:04am Aug 25, 2015 11:04am
Quoting Magicmen
{quote} May be another Mayan calendar. Their supporting proofs are astonishing.
I usually jump to end of such videos to see if they have something related with money. It save time
  • #1,022,368
  • Aug 25, 2015 11:05am Aug 25, 2015 11:05am
Quoting Rockerzeus
{quote} Thanks for the info MissPips.. I do not use them while trading but I have template to see daily longest one, time to time I am checking it as an old habit
You're welcome. I do use them, but because you can draw them in a few ways I keep more than one version of the major ones, and I just see if one of them looks like it's working, and then I use that one. One trick I learned in a seminar is that if you have a trendline with three or more touches and it breaks, most times price will go up (down) at least until it hits the next point that formed the trendline (the one just above (below) the point where it broke). This is pretty useful in figuring out which direction to trade in and until where. Works best on the higher timeframes (1 hour and up). I've been watching it every since I learned it, and it works more often than it fails.
  • #1,022,369
  • Aug 25, 2015 11:12am Aug 25, 2015 11:12am
Quoting MissPips
{quote} You're welcome. I do use them, but because you can draw them in a few ways I keep more than one version of the major ones, and I just see if one of them looks like it's working, and then I use that one. One trick I learned in a seminar is that if you have a trendline with three or more touches and it breaks, most times price will go up (down) at least until it hits the next point that formed the trendline (the one just above (below) the point where it broke). This is pretty useful in figuring out which direction to trade in and until where....
Thanks , looks like good tip I will keep in mind.
  • #1,022,370
  • Aug 25, 2015 11:16am Aug 25, 2015 11:16am
Quoting gatorinla
{quote} if you BS someone after the fact. set up a scam sight and do it. dont think people who actually trade. day in and day out or going to believe this crap. 50 50 is actually a great win rate if the reward can be calculated and proven to work in a multiple compared to loss. but you need a entry and a stop.. not a "it worked this time bs post i told you so" after the fact. post 10 of these beforehand, and get 5 right with r/r favorable. then u got something to build on.
ok, i will work in that for you... all can be seen in my trade explorer.. that perfect eurousd trade

of course there are stops.. to the last swing high or low

theres a trade now currently open... lets see how it does... stop loss set
  • #1,022,371
  • Aug 25, 2015 11:18am Aug 25, 2015 11:18am
Quoting Rockerzeus
{quote} Thanks, I used them at the past and almost every platform has same issue with trend lines. Best way to use it if you draw one let say on daily than do not change TF and keep it safe
those who can, do. those who cant, talk about those who can
  • #1,022,372
  • Aug 25, 2015 11:20am Aug 25, 2015 11:20am
Quoting gatorinla
{quote} thats what i like.. honesty.. a 50/50 shot it will go one way or the other. so where do u enter and whats the stop. can you post date this to yesterday? here is the 200 day one.. it did come back to the line.. the drawdown was only 2100 for 15 months.. {image}
ROFL
  • #1,022,373
  • Aug 25, 2015 11:24am Aug 25, 2015 11:24am
Quoting mkvy
{quote} ok, i will work in that for you... all can be seen in my trade explorer.. that perfect eurousd trade of course there are stops.. to the last swing high or low
Sure it will work and I have no doubt on it. I'm sure also that it will stop to work sooner or later and you will disappear with your account. The trend is the friend of all the scammers. Your strategy is not difficult to backtest, if you are serious do it, you'll save your money and your time.
Don't be smart. Be rich.
  • #1,022,374
  • Aug 25, 2015 11:29am Aug 25, 2015 11:29am
Quoting maximinus
{quote} Sure it will work and I have no doubt on it. I'm sure also that it will stop to work sooner or later and you will disappear with your account. The trend is the friend of all the scammers. Your strategy is not difficult to backtest, if you are serious do it, you'll save your money and your time.
Of couse i use the toolset i have learned through the years, looking at channels, trendlines, support/resistance on Daily chart...

Dont be paranoid too much. I am no scammer or commercial trader.. I have been accused of this before many times before from this thread and you will find no evidence of such dealings
  • #1,022,375
  • Aug 25, 2015 11:33am Aug 25, 2015 11:33am
Quoting mkvy
{quote} ok, i will work in that for you... all can be seen in my trade explorer.. that perfect eurousd trade of course there are stops.. to the last swing high or low theres a trade now currently open... lets see how it does... stop loss set
yeah i see your te. its 40+ days old and 50/50 w/l. its not the first te i looked at. most of the others dont have losses. at least yours does. now can you do it with a million in your account to start for a year?
those who can, do. those who cant, talk about those who can
  • #1,022,376
  • Aug 25, 2015 11:36am Aug 25, 2015 11:36am
Quoting gatorinla
{quote} yeah i see your te. its 40+ days old and 50/50 w/l. its not the first te i looked at. most of the others dont have losses. at least yours does. now can you do it with a million in your account to start for a year?
  • #1,022,377
  • Aug 25, 2015 11:43am Aug 25, 2015 11:43am
Quoting mkvy
Great thing about following basic moving averages is that they force you into discipline and patience which most traders fail on... the most difficult decision is when to take profits.... If the slow ma is above the fast ma there is a better than 50% chance the price will go down and visa versa! no need for complex strategies from all the GURUs here
Quoting mkvy
{quote} Of couse i use the toolset i have learned through the years, looking at channels, trendlines, support/resistance on Daily chart...
First you tell that you follow the MA and 50/50 bla bla, when challenged on the profitablity of this strategy on the long term You start to sing a different tune.


PS/ I dont think that you are scammer, I'm only trying to tell you that yes, MAs could be great but on the LT the disaster is guaranteed. My post was a precautionary advice, nothing else.
Don't be smart. Be rich.
  • #1,022,378
  • Aug 25, 2015 11:45am Aug 25, 2015 11:45am
Quoting gatorinla
{quote} i was sleeping and i never got further than this post. correct me if wrong.. is not a limit order, a demand to buy or sell at a particular price? and if people place that order at a tl or s/r, your saying its not a demand to purchase or sell at that given price?? so are you now saying, what you just said dont exist, now exist?
there is a problem in that statement. you are considering the orders supply and demand. well, then every single pip in the space is either supply or demand, because somebody has set an order at that point. correct? if true, the whole statement referring to order as supply/demand is meaningless, because to our understanding, supply demand is a specific level when price reverses, it is not just any given point. if i to speak in your terms use the words supply/demand, then, in reality every single pip move is a result of supply and demand (orders) and price never retraces or bounces or reverses because someone draw a line in his chart at some level and called it "supply/demand level" for the simple fact that supply/demand does not exist, there are only orders set buy various corporations, banks for various reasons to run their daily businesses, who do not care if there is a s/d zone somewhere. retail/speculative traders are almost negligible volumewise in the market.
As Above, So Below
  • #1,022,379
  • Aug 25, 2015 12:00pm Aug 25, 2015 12:00pm
I have the right to remain silent about my NZDUSD trade, anything i do say may be taken as evidence
  • #1,022,380
  • Aug 25, 2015 12:03pm Aug 25, 2015 12:03pm
Quoting ill_be_back
Pending SHORT UCAD 1.33460
Cancelled
Missed by 3
A good trader follows his rules, but great trader knows when to break them
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