Dinos thank you for your comment, yes many resistance up there.
Dinos thank you for your comment, yes many resistance up there.
Does no matter what they say.....what they say is already old.....I was listening to Bloomberg long after I took the trade.....they were saying something like " what is happening to the euro?"...yes Bloomberg is good, it shows they have not any idea....
Market brooke the down TL, not strong but it did, more of a sideway...but still (Daily chart), then drooped strongly making a overshoot of the recent low.
prices reached strongly (rumours US increasing rates) the lower channel line and the uptrend line. (monthly chart already posted)
here I bought the bottom..... by fading the recent low.....(Hourly chart), made 100 pips on about 20, I got out because I do not like to stay in much against the trend....
now there is flag (4h chart) just below the ema and other.....
Attachments
Last edited:
Nice thread & trades. Interesting that not more people have posted here. Generally speaking there seems to be an inverse correlation between quality & popularity on forums. I guess that's why 90%+ of retail traders fail and all look at the same cr*p.
D,
Thank you for your post, I think you are right, we all tend to look into places yes easy to look but further away for what counts......well recognising it is a good step further....
Trading is definitely not easy, at least not for myself, it teaches me every day much more about myself, never in any endeavour I encountered before it showed so much and crap about myself.....
The are not secrets in trading only skill and even when you acquire the necessary skill after so many years, emotions and mr ego pops in constantly to make our time much more difficult maybe in the direct proportion of the skilled acquired.....
So what do we do then? Do we quit? Well, many will, it is too hard, some will not but they need to adjust so when it hurts it hurts no so much, maybe one has to balance to make subjectivity more into objectivity, in brief trading has to be enjoyable otherwise is not worth it and to be that way one has to constantly be present and readjust itself....
D please pop in with your views as much as you like.
Made 77 on this on 20, I let this run while sleeping, I took the trade in the direction of the least resistance, my day was not a great day, made many mistakes and I am not proud of it but this last trade has adjusted my balance in positive...still many things I did not deal properly and I have a lot of work to do regarding it but not today...I need a break and breath.....
Attachments
Last edited:
always count legs.... a pull back of two legs is a great entry to enter in the direction of the trend also a great entry in a range fading the new extreme, two legs work because if market try to do one thing twice and fail there is a good chance the opposite will happen.......if the two legs failure fail there is a good chance for another two legs in original direction......
so always count legs.......have a nice WE
so always count legs.......have a nice WE
Al Brooks, Bob Volman and lately Lance Beggs, learned classical TA from John Murphy before them. They are the one that have the more influence on myself, read many many others but they had little impact.
In my view the above are all real traders and their work is particularly detailed and generous and they have all so much in common regarding trading others people pain excluding John Murphy.
Anyway, only by studying them did not take me where I wanted, to get to where I am now I needed to bring in my own persona into the arena, I needed to apply subjectivity and my own perception creating my own style that relates to my personality, they do not explain this subject in great detail because I think it will not be easy to do, but they all make the strong point that practice,practice,practice and more practice is an essential part of becoming a decent trader.
Al in his writing says that it took at least 10 years before he become a consistent winning trader......He has been trading for about 30...
So, in brief they have been all good to me but they could not be enough.... rightly.......
Seems you know a bit about Al Brooks, what is your perception of his work?
Last edited:
barjon
Legendary member
- Messages
- 10,752
- Likes
- 1,863
I've ploughed through his book a few times but never been able to translate whats hangs together very well in print to the actual trading world.
Mind you, that's probably more to do with the fact that I'm not cut out for day trading. Not fast fingered enough and have balls of jelly
So hats off to you, glad you've found your own niche in the F1 field of trading.
I've ploughed through his book a few times but never been able to translate whats hangs together very well in print to the actual trading world.
Mind you, that's probably more to do with the fact that I'm not cut out for day trading. Not fast fingered enough and have balls of jelly
So hats off to you, glad you've found your own niche in the F1 field of trading.
Barjon
Lots of work to be able to trade at a certain level in day trading believe me, and much more to come and I have the feel that it will never end, but I am convinced at one point experience will make it much easier..
alexaherself
Established member
- Messages
- 560
- Likes
- 149
I agree.
I discovered this thread for the first time only yesterday
and haven't even read every post yet (which I'll rectify within another day or so).Thank you, Fugaszy, for a fine and interesting thread. As the saying goes, "I'll be back".
I agree.
I discovered this thread for the first time only yesterday
Thank you, Fugaszy, for a fine and interesting thread. As the saying goes, "I'll be back".
Anytime mate, anytime.
Jon
I do agree with you, Al is not clear, especially at the beginning, then he will make more sense, but on his first book he recommends to take only the best trades if we are not consistent in our winners, from page 353.
Otherwise you can read Lance, his work is all detailed in his 6 pdf, all very clear and makes great points.
Fzsy
Last edited:
done for the day, finished as BE, to be precisely +1.2 pips, +0.12% lol.
3 trades, one loss and 2 wins, the first trade was a loss when market was still moving, a bit aggressive as a trade, there was a strong push up but also strong prior push down and I shorted below the reversal bar at a small resistance line. caput.
THe second trade I shorted the recent high and then she went into a deep sleep, my risk in terms of pips was wide, and that is why I took my second trade much smaller in risk in terms of pips, there was in tight range (marked by the two lines and broke above it and I shorted in the opposite side with a reversal bar.
Took profit on both trades went I covered my loss......must protect my capital, first rule, good days will arrive.
This was a tough day, was like taken blood out of a stone...
3 trades, one loss and 2 wins, the first trade was a loss when market was still moving, a bit aggressive as a trade, there was a strong push up but also strong prior push down and I shorted below the reversal bar at a small resistance line. caput.
THe second trade I shorted the recent high and then she went into a deep sleep, my risk in terms of pips was wide, and that is why I took my second trade much smaller in risk in terms of pips, there was in tight range (marked by the two lines and broke above it and I shorted in the opposite side with a reversal bar.
Took profit on both trades went I covered my loss......must protect my capital, first rule, good days will arrive.
This was a tough day, was like taken blood out of a stone...
Attachments
alexaherself
Established member
- Messages
- 560
- Likes
- 149
You finished trading for the day before I've started. Safe job anyway, and a plus is a plus. And some of those stones are not as haemorrhagic as one would wish.
You finished trading for the day before I've started. Safe job anyway, and a plus is a plus. And some of those stones are not as haemorrhagic as one would wish.
GM to you mate, it is 11:23 PM here....... started at 6PM, 5 hours is enough for me........Yes my day is good when I do not lose..... please have a great day for me as well....Keep me updated....
