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Trend Followers

  • #21
  • Nov 10, 2016 2:02pm Nov 10, 2016 2:02pm
Took this GBPJPY last night but my stop loss got hit.
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  • #22
  • Nov 10, 2016 4:02pm Nov 10, 2016 4:02pm
Some Important Patterns
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  • #23
  • Nov 11, 2016 3:01am Nov 11, 2016 3:01am
All trends starts with breakouts, so, we should also look for breakouts.
Regards!!!
  • #24
  • Nov 11, 2016 3:22am Nov 11, 2016 3:22am
Here's some idea of changing the trend direction based on Linear Regression Channel.
(AUD/USD H1)
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Member
  • #25
  • Nov 14, 2016 1:30am Nov 14, 2016 1:30am
I didn`t have time to post more unfortunately, however I found the following which is gold in my opinion :

Don’t Try to Predict the Future
NO ONE KNOWS WHERE THE MARKET IS GOING
NO ONE KNOWS WHEN THE MARKET WILL MOVE

Know that Market Experts aren’t Magicians
THEY DON’T PROFIT FROM THEIR PREDICTIONS
THEY HAVE LEARNED TRADING DISCIPLINE
THEY PROFIT FROM SOUND CASH MANAGEMENT & RISK CONTROL
THEY DON’T HAVE SUPERIOR PERFORMANCE NUMBERS

Be In Harmony with the Market
DON’T FIGHT THE MARKET
LET THE MARKET TELL YOU WHAT TO DO AND WHEN
THE MARKET GIVES AND THE MARKET TAKES AWAY

Have a Healthy Time Horizon
TRADE FOR PROFITS OVER TIME
GIVE YOUR TRADING STRATEGY ENOUGH TIME TO WORK


Understand the Psychological Keys of Trading
ACCEPT LOSSES AS A COST OF DOING BUSINESS
USE HISTORICAL STATISTICS
LET THE MARKET AND STRATEGY DETERMINE THE PROFITS

Don’t Trade for the Money
SUCCESSFUL PEOPLE DON’T WORK FOR THE MONEY
LOVE TRADING FOR ITS OWN SAKE

Concentrate on Execution

Always Be In the Market

Buy High - Sell Low
Attached File(s)
File Type: pdf the principles of succesful trading.pdf   99 KB | 1,820 downloads
The truth is hidden from you
  • #26
  • Nov 14, 2016 1:35am Nov 14, 2016 1:35am
Quoting pipshaman
All trends starts with breakouts, so, we should also look for breakouts. Regards!!!
Yes, you have a crucial point there.

The markets go through phases of compression (range), and expansion, which nearly always are a beginning of a trend.
Thing is though, we can`t really tell if its going to be a trend before it unfolds, so the only way to find out, is to bet on it while managing risk in my opinion.

Joe Ross - Trading By the Book has shared a few interesting ideas on trading breakouts

I`m also looking forward to read Nicolas Darvas who was a breakout trader and made allot.
The truth is hidden from you
  • #27
  • Nov 14, 2016 2:04am Nov 14, 2016 2:04am
Quoting pipshaman
All trends starts with breakouts, so, we should also look for breakouts. Regards!!!
You're right. Not only breakout. Check shooting star of EURUSD 8th May, 2014. It can also start with a strong Dragonfly/Pinbar, sometime bearish/bullish engulfing on an exhausted market.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -49.2%
  • #28
  • Nov 14, 2016 2:15am Nov 14, 2016 2:15am
Quoting MaxenshteinD
{quote} Thing is though, we can`t really tell if its going to be a trend before it unfolds, so the only way to find out, is to bet on it while managing risk in my opinion. Joe Ross - Trading By the Book has shared a few interesting ideas on trading breakouts I`m also looking forward to read Nicolas Darvas who was a breakout trader and made allot.
That's the reason you follow market candlestick by candlestick
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Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -49.2%
  • #29
  • Nov 14, 2016 2:31am Nov 14, 2016 2:31am
Also check the strong shooting star of 23rd August,2015 - weekly chart EURUSD. Sooner than later it's going to break below strong support.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -49.2%
  • #30
  • Nov 14, 2016 2:54am Nov 14, 2016 2:54am
On medium term, monthly TF, EURUSD will head to parity. Now is still in consolidation but it seems that the direction is clear, at least to me.
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  • #31
  • Nov 14, 2016 3:02am Nov 14, 2016 3:02am
Quoting pipshaman
On medium term, monthly TF, EURUSD will head to parity. Now is still in consolidation but it seems that the direction is clear, at least to me. {image}
When market forms Bollinger Band Squeeze/sideways after a strong trend, more often it's breakout resumes in the same direction of the trend. You could see that after strong downtrend on EURUSD, BBSqueeze is more visible on the weekly chart. Downtrend is more likely. As you already know, Forex is a game of probability.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -49.2%
  • #32
  • Nov 14, 2016 3:08am Nov 14, 2016 3:08am
@MaxenshteinD and 9jatrader, I have attached the Darvas's book.
Attached File(s)
File Type: zip Nicolas Darvas - How I Made 2 Million In The Stock Market.zip   6.2 MB | 439 downloads
  • #33
  • Nov 14, 2016 3:26am Nov 14, 2016 3:26am
Quoting pipshaman
@MaxenshteinD and 9jatrader, I have attached the Darvas's book. {file}
So kind of you. Thanks
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -49.2%
  • #34
  • Nov 14, 2016 4:00am Nov 14, 2016 4:00am
Quoting MaxenshteinD
I was also influenced by Jesse Livermore (yes I`m aware of different views on this forum towards him). He shared some genius insights which came to him with experience (which cost several bankruptcies). P.S. one must not forget that "Pivot Point" is a name for a variety of different techniques, some are just simple swing high/low, while some are a well known daily pivot point, the most important thing is - its a simple reference point (could be the price of 1.1243 for example) {image} {image}
Wow, thanks for this screenshot mate. Very useful. Red Jesse's bio, well, tragedy...
Trade To Freedom
  • #35
  • Nov 14, 2016 4:33am Nov 14, 2016 4:33am
Quoting MaxenshteinD
Lets share trades and opinions on trade following https://www.youtube.com/watch?v=LiE1VgWdcQM
Love this classic song, always cheers me up when trading gets boring or when get into a trading slump
  • #36
  • Nov 14, 2016 5:07am Nov 14, 2016 5:07am
Reminiscences of a stock operator and Trade like Jessie Livermore in attachement. Enjoy the reading guys!
Attached File(s)
File Type: zip Jesse Livermore - Reminiscences of a Stock Operator.zip   1.3 MB | 377 downloads
File Type: zip Jesse Livermore - Trade Like.zip   4.4 MB | 698 downloads
  • #37
  • Nov 14, 2016 2:48pm Nov 14, 2016 2:48pm
Greenback is on the move. USDJPY has broken a three-month resistance on the daily chart. This is supported by Stochastic on the overbought region. If you trade this pair, good luck.
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Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -49.2%
  • #38
  • Nov 15, 2016 1:37am Nov 15, 2016 1:37am
Thanks for sharing the above )))
I`ve just went long on EURUSD and hopefuly would be able to ride the position for atleast a couple of days.
For anyone interested why I went long there, and why do I have a vertical line at 09:00 in my time. The reason is because I learned from an amazing but forgotten thread on FX Factory called " No Free Lunch ". http://www.forexfactory.com/showthread.php?t=56907

I`m also using a cartesian cross kind of thing for refference point which I will probably write more about later.

Now since I decided to share those, I might just as well share what influenced me the most. http://www.forexfactory.com/showthread.php?p=3400462
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The truth is hidden from you
  • #39
  • Nov 15, 2016 1:44am Nov 15, 2016 1:44am
Quoting Alpha8
{quote} Love this classic song, always cheers me up when trading gets boring or when get into a trading slump
It`s important to be motivated, and take a rest sometimes from trading.
Personally I was learning a new concept, testing out new ideas, only to realise that they are an illusion and not the proper way to trade.
It felt hard, sometimes I wanted to quit. But we all know what kind of drug is trading, and how hard it is to quit.
What really saved me, was taking breaks sometimes for a period of even couple weeks.
Afterwards I would come with a fresh head and start trying to figure things out again.
In my opinion, the hardest thing is to understand, to learn, to get, how to trade properly and profitably (probably and profitably is the same thing in theory).
I believe that trading is very easy, its just that the trading comunity is full of salesmen who don`t know how to trade. Yet they try to teach others for money.
Such people and their dissinformation are cancerous. However personaly I found allot of valuable information in the links I shared above.
The truth is hidden from you
  • #40
  • Nov 15, 2016 1:51am Nov 15, 2016 1:51am
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The truth is hidden from you
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