Good morning all, well morning in my time zone, are we all ready to kick some ass, I have a good question I have being pondiring, maybe emmanuel7788 can help me with, I normally only take trades with the direction of the long term trend, my question is so for example, I want to short on 4h TF, its a downtrend on 4h TF, I go to higher TF, its a downtrend on Daily TF aswell, BUT ITS A UPTREND IN THE WEEKLY TF, will that still be a good trade to take or not??
- #61,542
- Oct 15, 2015 1:19am Oct 15, 2015 1:19am
- Joined Nov 2008 | Status: Trader | 50,190 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #61,543
- Oct 15, 2015 1:30am Oct 15, 2015 1:30am
- Joined Nov 2008 | Status: Trader | 50,190 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #61,546
- Oct 15, 2015 1:52am Oct 15, 2015 1:52am
{quote} That depends on the trading range of the currency pair. Let look at both EURAUD and GBPAUD, the previous weeks were bearish, but this week these went into correction so we see Daily were bullish Bias. we can trade against the Weekly in the correction following the Daily trade bias. there is enough room for making pips. But if we strictly want to trade following the Weekly Trend or Bias, then selling in H4 means we have to face the drawdown during the correction/retracement ealry this week. Not a good idea knowing that retracement can be...
- #61,547
- Oct 15, 2015 2:20am Oct 15, 2015 2:20am
- Joined Nov 2008 | Status: Trader | 50,190 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #61,548
- Oct 15, 2015 2:41am Oct 15, 2015 2:41am
- Joined Nov 2008 | Status: Trader | 50,190 Posts
something must have spooked the euro.
all EUR pairs falling ..... I take profits
all EUR pairs falling ..... I take profits
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #61,550
- Oct 15, 2015 2:49am Oct 15, 2015 2:49am
- Joined Nov 2008 | Status: Trader | 50,190 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #61,553
- Oct 15, 2015 3:14am Oct 15, 2015 3:14am
- Joined Nov 2008 | Status: Trader | 50,190 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Hi
I feel welcome. THANKS!
I was thinking of opening my own thread...something along the lines Trading for idiots (in a good way of course) Trying to all help each other....I see a lot of "I MADE 21343 PIPS" sort of posts ....Sounds like showing off (again no disrespect) but it helps no one. Also i don't see the "I lost 3243242 pips" sort of posts.....the real ones, I am still in the 95% who plainly loses. So 38 out of the 40 actually viewing this now are FX losers ...
I was away because I lost a fortune. Having said that , it was mainly emotional, lost track of systematic trading and logic...sad story.
Anyyyyhow...I never give up, and re-discovered your thread. Most Gurus seem gone, you are still here...how have you been? Living of FX already?
Ok, that GAP explanation was great, so simply and yet I did not see it.!!!
Another one, sorry: Daily AUD USD chart. Another fail entry it seems. I guess Daily may not work seems it's full of gaps right? every 5 bars
As you can see i am wiser...little but enough to learn all the BADs before getting greedy with the GOODs
I feel welcome. THANKS!
I was thinking of opening my own thread...something along the lines Trading for idiots (in a good way of course) Trying to all help each other....I see a lot of "I MADE 21343 PIPS" sort of posts ....Sounds like showing off (again no disrespect) but it helps no one. Also i don't see the "I lost 3243242 pips" sort of posts.....the real ones, I am still in the 95% who plainly loses. So 38 out of the 40 actually viewing this now are FX losers ...
I was away because I lost a fortune. Having said that , it was mainly emotional, lost track of systematic trading and logic...sad story.
Anyyyyhow...I never give up, and re-discovered your thread. Most Gurus seem gone, you are still here...how have you been? Living of FX already?
Ok, that GAP explanation was great, so simply and yet I did not see it.!!!
Another one, sorry: Daily AUD USD chart. Another fail entry it seems. I guess Daily may not work seems it's full of gaps right? every 5 bars
As you can see i am wiser...little but enough to learn all the BADs before getting greedy with the GOODs
- #61,555
- Oct 15, 2015 3:57am Oct 15, 2015 3:57am
{quote} no hope. Cut loss fast like Big E.
But I got 'em all back on EA , plus a few extra + 70 , so all is well I live to fight another day
- #61,557
- Oct 15, 2015 5:10am Oct 15, 2015 5:10am
something must have spooked the euro. all EUR pairs falling ..... I take profits
That's also why I haven't trade euro pairs all that much except eurusd. Central banks are fighting each other over lower currency. Except Fed and BoE who want to raise rate.
- #61,559
- Oct 15, 2015 6:06am Oct 15, 2015 6:06am
Another BO attempt .... Doing the same thing over and over and expecting the outcome to be different 
Now I'm in a position were I like being bullish but S/L way to close and volatility is going to take this stop out for sure. Pretty hard to close this out but I think it's the right thing to do.
Now I'm in a position were I like being bullish but S/L way to close and volatility is going to take this stop out for sure. Pretty hard to close this out but I think it's the right thing to do.
