1606 replies to this topic

[LadyMo]

You can read a lot of books and follow a lot of good forums on trading...BUT NOTHING CAN BEAT SCREEN TIME. My mentor used to say to me that some of the things he saw in the market were difficult to explain to someone. Reading price like a sheet of music comes  with experience and experience comes with screen time. A mechanical system is easy to show or teach someone, but discretionary trading is very difficult to teach someone.

Your fav pair is gradually moving down towards 1.4050, where we will see a more resounding fight from buyers.

remember NFP is out today.

USD/Euro is very bearish so far today! I wonder what will happen after 12.30 when this report is out!

[LadyMo]

One for the Ladies http://www.forexfactory.com/showthread.php?t=177319

Yaaay...cool, thanks Trader!! Well, you won't be seeing me here anymore  

[Trader]

When I look at the eurusd and gbpusd, i also look at the eurgbp to show me which currency is strong between the eur and the gbp and if the eur is stronger than the gbp, I go long the eurusd instead of the gbpusd vice versa when the gbp is stronger. But when the usd is stronger, i look for the currency which is weaker between eur and gbp then i go short on the weakest against the dollar. Hope that makes sense.

And the only time I use indicators is when I draw the MACD to show me divergence, this is a very reliable setup especially on the higher TF. Imagine when the market is at a very strong area of S/R, 50% fib and you see divergence with price action = $$$$$$$$

[Trader]

Yaaay...cool, thanks Trader!! Well, you won't be seeing me here anymore  

      

[Trader]

If the 8100 support on the mini Dow breaks, we will see some panick seling, thus pushing the mkt lower. Watch this space

[LadyMo]

      

The arena is BEAR dominated today! I wonder if the USD/Euro will break 1.3990 today.
What do you guys reckon?

[Trader]

The arena is BEAR dominated today! I wonder if the USD/Euro will break 1.3990 today.
What do you guys reckon?

Maybe a slight pause in price before we see another gradual push down by bears

[Trader]

A gradual push down to 1.6200 is occuring on the Cable

[LadyMo]

The arena is BEAR dominated today! I wonder if the USD/Euro will break 1.3990 today.
What do you guys reckon?

...and so it did at circa 1645hrs and bounced back up....Go bears!!!

[Trader]

This is what happens when yu let a boy do a man's job

[LadyMo]

This is what happens when yu let a boy do a man's job

Ouch!!! Imagine if the market had gone the other way. The boy would have done an excellent job for you then! But mari yekuruza usingazivi inogwadza veduwe!!

[Trader]

You can say that again, mistakes like these costs yu a lot of $$$$, I always lock my platform, but i just forgot.

[Trader]

All the major markets have been moving sideways, maybe they are building up for a major move, if they break out of these tight range, there is a lot of $$$$ to be made coz trading trends is easier than trading range bound markets. Watch for the markets breaking out of the tight range and take advantage of the trend, when the big boys start moving the mkts, there is no stop until the next big major levels.

But the best thing about trading price action is that you can profit in both trending and ranging markets, you just have to adjust your MM. Trailing SL works in trending markets but not in ranging markets. I personally take partial profits at areas os S/R in ranging markets.

Chart below shows the major pairs in a tight range.

[LadyMo]

You can say that again, mistakes like these costs yu a lot of $$$$, I always lock my platform, but i just forgot.

At times we just gotta LOVE TO LOSE MONEY. Mistakes happens! On Wednesday i forgot to close my pending order and was triggered overnight and the market went against me....was burnt sooo bad because i didn't have a pending stop loss! Anyway today is another day, could be profitable!

[Trader]

At times we just gotta LOVE TO LOSE MONEY. Mistakes happens! On Wednesday i forgot to close my pending order and was triggered overnight and the market went against me....was burnt sooo bad because i didn't have a pending stop loss! Anyway today is another day, could be profitable!

This happened to me several times, but as we traders we ve to move own and place good trades to make more $$$.
Cable and Fiber seem to be gradually moving down. Remember its holiday in the states so the volumes will be a bit low today especially in the NY session.

[Trader]

Support at 1.6322 on Cable has been tested more than 5 times, watch it break c'mon bears.

[Trader]

On Fridays i go through all my trades for the week and focus on the good trades that were exited with a good profit so that they can be printed on my subconcious mind and i can repeat them again and again. I record all my trades in excel and print every chart for every trade i take. Trading is a business so record keeping is very important. I have thousands of charts printed with some notes scribbled on them.

So remember record keeping is very very important.

Am done for the week. C u next week, Enjoy your weekend.

[taz]

Hi Trader,

Hope all is well...

Been kept busy with work...finally got a bit of time to log on....

Will catch up on the thread soon....

Taz

[streetsweeper]

If the 8100 support on the mini Dow breaks, we will see some panick seling, thus pushing the mkt lower. Watch this space

Your know am watching that level brother,it up or down at those areas but i dont c what can cause the up...
thanks 4 keeping up the good work

[Trader]

A gradual push down to 1.6200 is occuring on the Cable

1.6200 reached now the next pause in price is 1.5775, a seller who has a long term view doest not yield his/her position unless the buyers proves a point. Lines of support are of less signficance when the markets are moving down.
GbpJpy, Eur/USd and Cable moving down