The Fundamentals of Trading | Page 3 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Successful Fundamentals trading (DAY Trading WILL BE Ignored) 17 replies

Book suggestion for Forex News and Fundamentals Trading 1 reply

trading with fundamentals is the only way to go 129 replies

Trend Trading FUNdamentals 3 replies

importance of fundamentals/technicals in intraday trading 0 replies

Attachments: The Fundamentals of Trading
Exit Attachments

The Fundamentals of Trading

  • #41
  • Apr 6, 2016 3:08am Apr 6, 2016 3:08am
Great Thread! Thank you for sharing knowledge Subscribed
"Men Who Can Both Be Right & Sit Tight Are Uncommon" ~ Jesse Livermore
  • #42
  • Apr 6, 2016 3:21am Apr 6, 2016 3:21am
Quoting sweetaction
GJHere is a clue if this is so bullish why isn't it going up A - Because the big shorts are being filled by retail longs if the big boys wanted this to go up it would of by now. Its a trick of the eye used perfectly to fool the unsuspecting.{image}
Gday Simon. Love this. Had a good trader me a while back that "As retail traders, we have to stop looking at the market from our side of the screen"
Ghost Rider - WWTBMD?
  • #43
  • Apr 6, 2016 3:37am Apr 6, 2016 3:37am
NZDUSD Update

Ok so if you been following along with this trade basically its as certain as trading gets now that 6735 will happen, only the unexpected can change this now

Asia did its job building the mini range today between 6790 and 6815, this gave London the platform to launch from, 6735 will be a formality that's 95 pips for me, I cant stress enough learn the habits of price and a few pairs and you can come into the office with your mop everyday and clean house

Now the critical piece what will eurnzd do next looking for a test of 16813 to coincide with 6735 on NZDUSD

Simon
99% of Traders fail, so don't follow the herd
  • #44
  • Apr 6, 2016 3:45am Apr 6, 2016 3:45am
Changing of the Guard

Q - How do you know when price is loosing momentum

A - let me show you, check out this chart, see how the first highlighted area one push down then lots of buyers, then second area lots more sellers, does it mean its time to sell no not yet, but when the retest near the top comes be a seller not a buyer is the message.

Remember what I said earlier do you really read charts or not.

Simon
Attached Image (click to enlarge)
Click to Enlarge Name: euraud.png Size: 57 KB
99% of Traders fail, so don't follow the herd
  • #45
  • Apr 6, 2016 3:48am Apr 6, 2016 3:48am
Quoting sweetaction
NZDUSD Update Ok so if you been following along with this trade basically its as certain as trading gets now that 6735 will happen, only the unexpected can change this now Asia did its job building the mini range today between 6790 and 6815, this gave London the platform to launch from, 6735 will be a formality that's 95 pips for me, I cant stress enough learn the habits of price and a few pairs and you can come into the office with your mop everyday and clean house Now the critical piece what will eurnzd do next looking for a test of 16813 to coincide...
Mr. Simon, gbp usd is getting towards 1.4060 area, like You said they have been twice before, so the bigger possibility is that it could be breaking down towards the 1.3925.
thanks
  • #46
  • Apr 6, 2016 3:49am Apr 6, 2016 3:49am
I will never gloat about being correct and thats not the reason for this next statement its only to point out the evidence of what has happened.

Earlier we spoke about GJ and its snapped downwards so what I said earlier about big sellers getting fills from retail was correct, they manipulate the picture to make it look like they are doing something different.

Simon
99% of Traders fail, so don't follow the herd
  • #47
  • Apr 6, 2016 3:51am Apr 6, 2016 3:51am
Quoting goldtime
{quote} Mr. Simon, gbp usd is getting towards 1.4060 area, like You said they have been twice before, so the bigger possibility is that it could be breaking down towards the 1.3925. thanks
Its coming with a nice pace, that's encouraging, however 3 times is not the charm normally unless we are in a range which are not.
Wait for evidence you can always get on the train once the break is confirmed

high probability once we have confidence instilled by confirmation.

check my chart

Simon
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.png Size: 54 KB
99% of Traders fail, so don't follow the herd
  • #48
  • Apr 6, 2016 3:55am Apr 6, 2016 3:55am
Yes. The evidence to look for at that zone will be a bullish signal for long or bearish for short.

KP

Quoting sweetaction
{quote} Its coming with a nice pace, that's encouraging, however 3 times is not the charm normally unless we are in a range which are not. Wait for evidence you can always get on the train once the break is confirmed high probability once we have confidence instilled by confirmation. check my chart Simon {image}
Do your homework, follow the footprints of smart money
  • #49
  • Apr 6, 2016 4:04am Apr 6, 2016 4:04am
GBPUSD

The is a trade I might play

if 14030 can be broken clearly then from 14025 stop sell orders will be piled up for the run to 13925, so there is at least 100 pips there , small stop loss above 14060 its a 3:1 RR, with high probability

ask your self this - where is this pair going once its gets through 14025

Its not going back up through the traffic and chop at 14060 and beyond the level its just broke, its much much easier to get orders filled to the downside, clear air for 100 pips

if I am sitting at the bank I know which trade I am taking.

Simon
99% of Traders fail, so don't follow the herd
  • #50
  • Apr 6, 2016 4:11am Apr 6, 2016 4:11am
Quoting sweetaction
GBPUSD The is a trade I might play if 14030 can be broken clearly then from 14025 stop sell orders will be piled up for the run to 13925, so there is at least 100 pips there , small stop loss above 14060 its a 3:1 RR, with high probability ask your self this - where is this pair going once its gets through 14025 Its not going back up through the traffic and chop at 14060 and beyond the level its just broke, its much much easier to get orders filled to the downside, clear air for 100 pips if I am sitting at the bank I know which trade I am taking....
Mr. Simon, would You explain the reason behind of 1.4025 as the boundary to take short ?
thanks
  • #51
  • Apr 6, 2016 4:17am Apr 6, 2016 4:17am
Quoting goldtime
{quote} Mr. Simon, would You explain the reason behind of 1.4025 as the boundary to take short ? thanks
sure check the chart
I have explained it for you
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd2.png Size: 53 KB
99% of Traders fail, so don't follow the herd
  • #52
  • Apr 6, 2016 4:34am Apr 6, 2016 4:34am
My Job

I love this job, in fact its not really a job seriously I can't believe you can make money this way most days.

I was asked recently do the night time hours of trading annoy you (I am based in Australia), my reply

can you drink alcohol and sit in your jocks at your desk (alright maybe not jocks I do get dressed)

Simon
99% of Traders fail, so don't follow the herd
  • #53
  • Apr 6, 2016 4:51am Apr 6, 2016 4:51am
GBPNZD

So i mentioned a day or so back that GBPNZD respected the level I marked at 20971 to 21000. I gotta say I didn't expect the retrace it gave, more than 200 pips is a large retrace even for this pair. Price has now run into a block of choppy action (check the chart)

I stick with the initial analysis that 21000 will break to the upside and run into 21150 might take a bit longer than I had expected

Don't you love trading you literally are surprised every day.

Simon
Attached Image (click to enlarge)
Click to Enlarge Name: gbpnzd.png Size: 61 KB
99% of Traders fail, so don't follow the herd
  • #54
  • Apr 6, 2016 5:00am Apr 6, 2016 5:00am
Trading Systems

Q - Let me ask you this, is trading mechanical do the same trades set up exactly the same each and every time
A - NO there are always subtle differences

so why do so many traders want to develop systems and want to open their charts and see some magical set up each day and go bam their is my trade.

NEWSFLASH THIS NEVER WORKS

I tell you the reason because they are F@CKING LAZY

I tried to mentor this guy once and all he ever wanted to do was find some match to a system he had developed and trade that, if this is what you want quit trading now invest your money in a share market index fund and get a paying job cause trading is not for you.

Everyday humans interact with currency pairs so price reacts differently (but the same) so price is the only yardstick we can use, cause its fueled by those primal human traits

Fear and Greed

and why ever this world continues to breed humans we will be able to trade using price.

Simon
99% of Traders fail, so don't follow the herd
  • #55
  • Apr 6, 2016 5:09am Apr 6, 2016 5:09am
GJ Trade I took earlier

Here is a breakdown of the last few hours in GJ, as I said 15600 wouldn't hold but you could of got in for the run down the hill, as I say high probability, low risk the trade has a stop above 15650, entry 15601, target of 155.15 around 1.5:1 RR not great but low risk in the scheme of it when looking at the chart.

Simon
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY.png Size: 43 KB
99% of Traders fail, so don't follow the herd
  • #56
  • Apr 6, 2016 5:32am Apr 6, 2016 5:32am
All the pound pairs are probing lower now, we are reaching peak cash for today when europe and the US are open at the same time, best time for a test see how much stomach the market has for longs.

GJ 15515 and lower
GU 14065 and lower

Simon
99% of Traders fail, so don't follow the herd
  • #57
  • Apr 6, 2016 5:36am Apr 6, 2016 5:36am
Quoting sweetaction
{quote} sure check the chart I have explained it for you {image}
thanks Sir
  • #58
  • Apr 6, 2016 5:40am Apr 6, 2016 5:40am
Volume or Strength as an Indicator

Complete BULSH!T

let dispel this myth, volume in FX is useless as are strength indicators or CCI or anything else that supposed to measure strength.

I will let you in on a little secret I want my trades to be in the special club and that's when big cash trades or has orders waiting so all those indicators that measure volume or strength all they are telling me is the measure of all those retail guys that are loosing money and where they are buying/selling.

I dont care where they are buying and selling useless information remove this rubbish from your charts do yourself a favor.

Simon
99% of Traders fail, so don't follow the herd
  • #59
  • Apr 6, 2016 5:41am Apr 6, 2016 5:41am
Quoting sweetaction
GJ Trade I took earlier Here is a breakdown of the last few hours in GJ, as I said 15600 wouldn't hold but you could of got in for the run down the hill, as I say high probability, low risk the trade has a stop above 15650, entry 15601, target of 155.15 around 1.5:1 RR not great but low risk in the scheme of it when looking at the chart. Simon {image}
You got me by a couple pips. I'm at 155.983 and covered +10. Basically the same entry criteria as yours. Free trade to see how much it has today.
Attached Image (click to enlarge)
Click to Enlarge Name: GJ 1H.PNG Size: 32 KB
Ghost Rider - WWTBMD?
  • #60
  • Apr 6, 2016 5:45am Apr 6, 2016 5:45am
Quoting albchr
{quote} You got me a couple pips. I'm at 155.983 and covered +10. Basically the same entry criteria as yours. Free trade to see how much it has today. {image}
alright good glad your on it, now patience is the key let it bounce around its fine.

start taking profit at 15517. get most of it before 15500, this is the bottom of the small range its selling into, there is some room to go down after 155 but not worth risking your 85 pips or so for. Take profit move along

Simon
99% of Traders fail, so don't follow the herd
1 trader viewing now