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  • #1,067,461
  • May 18, 2016 2:17pm May 18, 2016 2:17pm
Quoting KillerWhale
{quote} So actually it's nothing more than ............... Follow the trend!
Provided that there is a trend.
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  • #1,067,462
  • May 18, 2016 2:19pm May 18, 2016 2:19pm
Quoting Don96
{quote}
I had a good laugh too.
  • #1,067,463
  • May 18, 2016 2:22pm May 18, 2016 2:22pm
Quoting Marz30
{quote} Odds of a US rate hike has gone up from FOMC minutes which contributes to USD strength across the board.
Well I didn't follow that but believe me, I'm not in danger, I'm fighting back.
That's called ... ehhh adequate capitalisation I guess.

I have a buy EU now @ minus 60 pips and another buy @ 1 pip positive
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  • #1,067,464
  • Edited 3:02pm May 18, 2016 2:26pm | Edited 3:02pm
Quoting KillerWhale
{quote} Can you give me an exact explanation of "price action"? No one in the 11 years I've been trading now has been able to do that.
The detailed history of market price movements over time as seen on a chart. Would that work? Strictly speaking, you can't "trade price action", but you can base your decisions on price action, using it to interpret the strength of market forces and psychology of market participants. The main concepts are breakouts, breakout failures and traps. To me it means reading the market bar by bar, trying to understand what the bears and bulls are doing, where they are waiting to enter and exit, where short term chasers or faders are trapped and shaken out, etc.

My own example, perhaps not ideal, but how I see it:

An example of a trap logic would be around bar 12 (ignore my entry, it was too early) -- we see tails on the bottom of the two preceding bars, meaning the bears who sold those two bars were now trapped off the trendline. Then bar 12 went below those two previous bars and below the trendline -- some trapped recent bears were relieved to exit for a small profit or BE, perhaps some bears from higher up also exited with profit. Meanwhile many bulls who had bought the previous two bars with tight stops were shaken out, plus there were chasing bears who sold the bar 12 and they were trapped into the bar's close. Consider what happened next, when bar 12 closed as a doji. The trapped bear chasers who sold bar 12 wanted to get out, the shaken out bulls and sidelined bulls wanted to get back in or establish positions before it's too late because they saw the trap, the remaining bears higher up in locked in their profits with stops near breakeven and no longer looked to sell for a while. There was triple pressure up: trapped bears rushed to exit and chasing bulls rushed to enter, flushing the trail of older bears' BE+ stops on the way up and produced a nice scalp up.

The next setup came on a PRESUMED trendline parallel to the channel line established by the bulls. Bar 24 tested that trendline and made it actual, not just presumed, and closed as a strong bull reversal bar (tail on bottom, body larger than tail, close near/on high). What followed was a squeeze off the fresh trendline and into the gentler bear trendline until it was broken. In that squeeze there were five bull bars and just one bear bar, plus one bear and one bull doji. All setting up for a spike up.

Bar 37 was a strong bull outside up bar closing on high and completing the squeeze, all remaining bears in that range capitulated and exited while fresh bulls seeing this predicament of the bears came in chasing and produces the spike up.

That's all in hindshight of course, real-time PA reading is more difficult and impaired by emotions, but it is possible. Requires a lot of concentration and note taking helps.
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"To the busy day / To the idle play"
  • #1,067,465
  • May 18, 2016 2:34pm May 18, 2016 2:34pm
Quoting StopRunFx
{quote} The detailed history of market price movements over time as seen on a chart. Would that work? Strictly speaking, you can't "trade price action", but you can base your decisions on price action, using it to interpret the strength of market forces and psychology of market participants. The main concepts are breakouts, breakout failures and traps. To me it means reading the market bar by bar, trying to understand what the bears and bulls are doing, where they are waiting to enter and exit, where short term chasers or faders are trapped...
Also this...
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  • #1,067,466
  • May 18, 2016 2:41pm May 18, 2016 2:41pm
Quoting StopRunFx
{quote} The detailed history of market price movements over time as seen on a chart. Would that work? Strictly speaking, you can't "trade price action", but you can base your decisions on price action, using it to interpret the strength of market forces and psychology of market participants. The main concepts are breakouts, breakout failures and traps. To me it means reading the market bar by bar, trying to understand what the bears and bulls are doing, where they are waiting to enter and exit, where short term chasers or faders are trapped...
It sounds great, but in order to do what you want you will need a PhD in Mass Psychology, a Phd in Mathematics and a PhD in Mass Hysterical Behaviour and then add a lot of common sense and you'll be there. (Almost, you also need a little bit of "good feeling" and just plain "luck").

Good luck
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  • #1,067,467
  • May 18, 2016 2:43pm May 18, 2016 2:43pm
Quoting KillerWhale
{quote} It sounds great, but in order to do what you want you will need a PhD in Mass Psychology, a Phd in Mathematics and a PhD in Mass Hysterical Behaviour and then add a lot of common sense and you'll be there. (Almost, you also need a little bit of "good feeling" and just plain "luck"). Good luck
It does not make sense what you're saying. I explained it to you earlier what price action is. If you don't get it, than price action strategy is not for you. Maybe your strategy is supply/demand. Now if you are asking what supply/demand is well research it yourself.
  • #1,067,468
  • May 18, 2016 2:45pm May 18, 2016 2:45pm
Does anyone think the price will go up soon ?
  • #1,067,469
  • May 18, 2016 2:52pm May 18, 2016 2:52pm
Hi traders...

Any one have Quantumits Mq4 file indicator...?

if you have please post it...

Thanks
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  • #1,067,470
  • May 18, 2016 2:57pm May 18, 2016 2:57pm
Quoting Techanalyst
{quote} It does not make sense what you're saying. I explained it to you earlier what price action is. If you don't get it, than price action strategy is not for you. Maybe your strategy is supply/demand. Now if you are asking what supply/demand is well research it yourself.
Wouldn't you think I did that many years ago?

The fact that I'm still alive after 11 years of trading should speak for itself.
I've posted many successful charts, winning pips and losing pips and since 2011 I have no other income than trading forex.

Have you followed the many posts where I showed and told the very successful event I had for 18 months with trading EU against Turkish Lira? Also a thing that should speak for itself.
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  • #1,067,471
  • May 18, 2016 2:58pm May 18, 2016 2:58pm
Quoting elena26
Does anyone think the price will go up soon ?
Not soon, but it will go up.
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  • #1,067,472
  • May 18, 2016 3:00pm May 18, 2016 3:00pm
Quoting KillerWhale
{quote} Wouldn't you think I did that many years ago? The fact that I'm still alive after 11 years of trading should speak for itself. I've posted many successful charts, winning pips and losing pips and since 2011 I have no other income than trading forex. Have you followed the many posts where I showed and told the very successful event I had for 18 months with trading EU against Turkish Lira? Also a thing that should speak for itself.
don't waste time on that cheap talk Whale. Yous are good you ain't got nothing to prove in here that's for sure. TRY stuff you post is top notch. Keep it up and keep it g'ed up.
  • #1,067,473
  • May 18, 2016 3:01pm May 18, 2016 3:01pm
Quoting KillerWhale
{quote} Wouldn't you think I did that many years ago? The fact that I'm still alive after 11 years of trading should speak for itself. I've posted many successful charts, winning pips and losing pips and since 2011 I have no other income than trading forex. Have you followed the many posts where I showed and told the very successful event I had for 18 months with trading EU against Turkish Lira? Also a thing that should speak for itself.
I don't follow anyone. I trade based on my strategy. I would never trade the way you trade. It looks like you trade long term. I trade intraday trading/scalping price action. Not sure what your strategy is. I have no other income then trading too, this is my full time job. What it looks like you are long term analyst which to me is very risky and you are just predicting. Everything is prediction in trading but you have to minimize the losses. I do have losing trades sometimes, but sometimes I trade for days and no losses. I also post some charts taken live the same day.
  • #1,067,474
  • May 18, 2016 3:03pm May 18, 2016 3:03pm
FED boys (and the girl) are running out of toys. They're in the hurry to load up their interest rate gun before next global financial crisis hits the markets. Earlier this week, the probability of a June rate hike per Bloomberg was only 4% and the first “price-in” hike, not until December. So we could see longer US dollar strength, especially if hedge funds are forced to cover their shorts.
  • #1,067,475
  • May 18, 2016 3:03pm May 18, 2016 3:03pm
Quoting asgcorp
{quote} don't waste time on that cheap talk Whale. Yous are good you ain't got nothing to prove in here that's for sure. TRY stuff you post is top notch. Keep it up and keep it g'ed up.
We are just discussing. No one is arguing here.
  • #1,067,476
  • May 18, 2016 3:09pm May 18, 2016 3:09pm
Quoting elena26
Does anyone think the price will go up soon ?
not until June market movements are not objective, but heavily influenced by the Fed's decision to raise interest rates, (although still uncertain, the Fed will keep the supply of bullets to Q4), eurusd tends to fall ... IMO
Libenter homines id quod volunt credunt
  • #1,067,477
  • May 18, 2016 3:10pm May 18, 2016 3:10pm
Quoting asgcorp
{quote} don't waste time on that cheap talk Whale. Yous are good you ain't got nothing to prove in here that's for sure. TRY stuff you post is top notch. Keep it up and keep it g'ed up.
Thanks, I just can't figure out why no one was following me like in June 2014 when I collected $330 per day in interest alone 7 days a week with my holdings in short EUR/TRY. I was in a hospital 1 week, couldn't follow it but surprisingly collected 3500 pips on a set target the day before I got home.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #1,067,478
  • May 18, 2016 3:11pm May 18, 2016 3:11pm
Quoting KillerWhale
{quote} Can you give me an exact explanation of "price action"? No one in the 11 years I've been trading now has been able to do that.
Price action is taking a single price point and comparing it to other price points to make a decision.
If you are good at something, never do it for free--Joker
  • #1,067,479
  • May 18, 2016 3:12pm May 18, 2016 3:12pm
Quoting KillerWhale
{quote} Thanks, I just can't figure out why no one was following me like in June 2014 when I collected $330 per day in interest alone 7 days a week with my holdings in short EUR/TRY. I was in a hospital 1 week, couldn't follow it but surprisingly collected 3500 pips on a set target the day before I got home.
I hear you bro. carry trade income could be a very solid investment if one can figure out a proper entry point and calculate R/R accordingly.
  • #1,067,480
  • May 18, 2016 3:14pm May 18, 2016 3:14pm
Quoting KillerWhale
{quote} It sounds great, but in order to do what you want you will need a PhD in Mass Psychology, a Phd in Mathematics and a PhD in Mass Hysterical Behaviour and then add a lot of common sense and you'll be there. (Almost, you also need a little bit of "good feeling" and just plain "luck"). Good luck
but come to think of it, these PhDs are not necessary -- by the time people get with PhDs they become too risk averse to trade, they'll rather broadcast their predictions and weighty opinions. Luck, well, everyone needs luck. But PA is not complicated when you think about it. It's just people and machines trying to make money off each other at every pip, virtually every pip. Trying to get in at BE+ (which is the real edge), gauging reaction and then either throwing weight and pushing or pulling out. Over time, this produces what we see on the charts, and it produces a trail of strong position holders in profit and a trail of weak position holders in pain, and eventually those in pain give up and pay profits to those who were stronger. And then the game is reset. Watching closely you get many insights for good risk/reward trades. I'm not saying this method is for everyone or that you should try it -- it is a game theory method and purely discretionary. I just tried to answer your question.
"To the busy day / To the idle play"
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