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The Fundamentals of Trading

  • #261
  • Apr 13, 2016 5:29am Apr 13, 2016 5:29am
Quoting sweetaction
ECAD Here is a interesting one have a look at this chart, it has two levels marked which ones the better one and why 14740-14714 or 14686-14663 Post your answers here in the thread no judgement lets have some fun Simon {image}
On both chards, the lower level looks better, travelled further without taking a brake..
  • #262
  • Apr 13, 2016 5:30am Apr 13, 2016 5:30am
Reply albchr

ok as long as you can justify I am ok with it

one of the big things the guys I learnt from is that when you are going to make a trade you need to be able to justify it. I want everyone here to be able to make a living from your trading and before you spend money in a business you have to have a reason.

If you want to use Indi's thats ok, i personally think there BS but hey this is whats great about trading some many opinions on the same subject.

Good luck with it

Simon
99% of Traders fail, so don't follow the herd
  • #263
  • Apr 13, 2016 5:37am Apr 13, 2016 5:37am
Quoting sweetaction
Reply albchr ok as long as you can justify I am ok with it one of the big things the guys I learnt from is that when you are going to make a trade you need to be able to justify it. I want everyone here to be able to make a living from your trading and before you spend money in a business you have to have a reason. If you want to use Indi's thats ok, i personally think there BS but hey this is whats great about trading some many opinions on the same subject. Good luck with it Simon
I couldn't agree more Simon and I don't use any indies. Fibs are not indies.

But I know and respect that you're teaching "naked chart" reading here which is why I don't post here or interrupt. Don't want to steer your thread in the wrong direction. I'm "close" to completely bare charts but not quite there yet. It's why I became interested in your thread here.
Ghost Rider - WWTBMD?
  • #264
  • Apr 13, 2016 5:40am Apr 13, 2016 5:40am
Quoting sweetaction
ok lets make the competition interesting here is a GBPCAD chart same TF, similar pair to EURCAD whats better 18354 or 18416 - 18435 look at both charts carefully. Simon {image}


18416 - 18435
If you are new to FX don"t follow my trades, I 've blown many live accounts
  • #265
  • Apr 13, 2016 5:46am Apr 13, 2016 5:46am
fair call mate

I look at like a business, you buy when its cheap and sell when its high, and different amounts of pressure push price around, it literally as simple as that, but complicated at the same time.

I learn t from a guy my dad new who worked in futures, he was the most highly strung guy I ever met in my life but I knew I liked him straight away, he was one of those guys that was no Bullsh!t he'd yell and swear at you for no real reason and in the same breath take the time to sit and point things out to you.

When he died it was the first time in my life I really felt loss, cause I think people like him aren't around anymore, real old school, none of this political correctness crap if you needed yelling at you got it, if you needed praise he gave you just the tiniest bit to keep you coming back tomorrow.

No computers in his day just naked charts and price action.

Simon
99% of Traders fail, so don't follow the herd
  • #266
  • Apr 13, 2016 5:47am Apr 13, 2016 5:47am
ECAD

Alright the winner is:

THE MARKET DECIDES

but here is my take on it

Inserted Video


Simon
99% of Traders fail, so don't follow the herd
  • #267
  • Apr 13, 2016 5:49am Apr 13, 2016 5:49am
Quoting sweetaction
ok lets make the competition interesting here is a GBPCAD chart same TF, similar pair to EURCAD whats better 18354 or 18416 - 18435 look at both charts carefully. Simon {image}
I think 18416-18435 is better simply because of the way price reacted at this level. The rejection way clear at this level but price danced around a bit at 18354 before the movement.
  • #268
  • Apr 13, 2016 5:59am Apr 13, 2016 5:59am
Quoting sweetaction
ECAD Alright the winner is: THE MARKET DECIDES but here is my take on it https://www.youtube.com/watch?v=7JZ1...ature=youtu.be Simon

Thanks
If you are new to FX don"t follow my trades, I 've blown many live accounts
  • #269
  • Apr 13, 2016 5:59am Apr 13, 2016 5:59am
GBPCAD
trying to break now
99% of Traders fail, so don't follow the herd
  • #270
  • Apr 13, 2016 6:00am Apr 13, 2016 6:00am
GJ
same story trying to break towards a run at 15600
99% of Traders fail, so don't follow the herd
  • #271
  • Apr 13, 2016 6:02am Apr 13, 2016 6:02am
Quoting mclon
{quote} Thanks
tried to be diplomatic
not my strong suit
99% of Traders fail, so don't follow the herd
  • #272
  • Apr 13, 2016 6:08am Apr 13, 2016 6:08am
GBPCAD almost in clear air
not quite for this pair
99% of Traders fail, so don't follow the herd
  • #273
  • Apr 13, 2016 8:49am Apr 13, 2016 8:49am
hello sweetaction...nice thread you have....lots of gold stuff..........just pmed you...........
  • #274
  • Apr 13, 2016 6:13pm Apr 13, 2016 6:13pm
Good Morning Everyone

Should be an exciting day packed full of news

on the Aussie employment news i see

AJ - room to come up to 7720's
AUD - room to come up 8420's

see how it plays

Simon
99% of Traders fail, so don't follow the herd
  • #275
  • Apr 13, 2016 6:16pm Apr 13, 2016 6:16pm
GBCAD
still like a break to the upside through 18245

GBPUSD
still see the possibility of a revisit to 14320's before going lower

Simon
99% of Traders fail, so don't follow the herd
  • #276
  • Apr 13, 2016 6:19pm Apr 13, 2016 6:19pm
Yen

UJ
not getting seller at current level despite it being a sell level, 10980 is the next channel of selling I see but their is room for it to go to 10990 and if that happens then probably see the round number at 110

GJ
yeterday's analysis hold for me for now 15600 is in play on the high side before going lower.
99% of Traders fail, so don't follow the herd
  • #277
  • Apr 13, 2016 6:21pm Apr 13, 2016 6:21pm
EU

last week I spoke about eurusd coming back into the 11200's so last evening that happened it finally got through the clutter at 11450-11300

nothing holding it from now finding 11200, there is a big level there.

Simon
99% of Traders fail, so don't follow the herd
  • #278
  • Apr 13, 2016 6:24pm Apr 13, 2016 6:24pm
The rest is a bit of F@cking mess either range bound or just grinding away no imbalance or levels of note that I can see.

that's this morning tour complete
lets see what the news says in 2 hours.

Simon
99% of Traders fail, so don't follow the herd
  • #279
  • Apr 13, 2016 9:05pm Apr 13, 2016 9:05pm
Aussie

That was abit of a non event not sure the market really wanted the news it got, normally employment numbers are good for a bit of movement, anyway so be it.

All of the aussie pairs look like they have had enough of the uptrend for now, they all look like they are rolling over, however its possible it might get one more test of the highs before we go lower if and when that happens.

AUD short term I still like making it work all the way to 7720. On this pair for those of you familiar with Steve from No Brainer Trades we could see a triple tap play here on the 30m chart.

EAUD and GAUD is like standing in front of a knife thrower, I am going to wait for someone else to spend money longing it and then I will short it from the top much more in keeping with the long term trend.
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99% of Traders fail, so don't follow the herd
  • #280
  • Apr 13, 2016 10:12pm Apr 13, 2016 10:12pm
NZDUSD

We have been speaking about this for days but the NZD finally woke up on the wrong side of the bed this morning. Its taken out the last few days swing low points which were acting as support during the climb.

PB's at 6900 are in play now,

sellers welcome along wondering where you were.

Simon
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99% of Traders fail, so don't follow the herd
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