Best Thread Potential setups

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Words of Wisdom

. Hello all,
Hope that you are all making some good pips in the market?
My explanations above are very crude and lack some of his finesse so I compel you to read his book to really understand how YOU can be the biggest enemy to your account....
Good trading all...

Hey its good to hear from you Grim
Very wise words indeed. I like the idea of talking the trade plan through out loud. I think I'll give it a try, it will be my "clearly explaining this trade plan to Grim, for a second opinion" strategy!

take care of yourself & hope to hear from you again soon
best
Paul
 
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aud breakout, happening atm? (also i'm short cable and euro)...
 

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Hey its good to hear from you Grim
Very wise words indeed. I like the idea of talking the trade plan through out loud. I think I'll give it a try, it will be my "clearly explaining this trade plan to Grim, for a second opinion" strategy!

take care of yourself & hope to hear from you again soon
best
Paul

LOL! Hello Paul, hope you are well and trading fine?
Re the talking out aloud; don't tell me! Tell yourself. Then u get to hear the sanity or madness that Mind 1 is telling you to trade with. Then mind 2 gets a chance to eveluate the action before pulling the trigger. I will give it a try on my return to trading in Feb!!

I have made a few paper trades out here; USDCAD would have netted me enough to survive on for a few months and pay for the next years golf fees! Always the way, but I've decided not to go live here on account of not being able to monitor the trades closley enough (like periods of a week away at a time!) Still, good reading and learning time ready for Feb!

Stay safe and speak soon,
Grim
 
Another key skill is talking each trade thru aloud and justifying it to yourself before you act. He argues that the thinking conscious derives from a different part of the brain to the talking voice....the thinking is more emotional and instinctive; by talking a trade thru aloud it's almost as if you are reasoning with another part of the brain that listens and evaluates from a different point of view. After all, how many times have we come to a decision then when we have tried to convey it to other in a group etc, seen the flaw in our own plan? I've done it a few times.....

My explanations above are very crude and lack some of his finesse so I compel you to read his book to really understand how YOU can be the biggest enemy to your account....

Good trading all...

PS Forgot to say thanks to Trader_Dante for the book recommendation above.....Thanks Tom, hope you are well?[/QUOTE]

Great post Grim - like that idea alot. (would have given you some points, but you got my last ones and apparently i have to share the love)
thanks Grim/TD for the book recommendation, that can be my Xmas present to myself :cheesy:
 
Short Cable.

Current price: 1.4677

Target 1.4615.

Stop 1.4716.

Is that the Bearish engulfing close on 1hr with an effective Lower swing high on that t/f that got you into that Tom? (Interestinglly I sold the top at 4745/55 area potential resistance but only took +7pips lol,...Both mni and thoms-reut had indicated potential supply in the 4745/55 area ...now waiting to see if this 5min develops into a downtrend before finding a re-entry.)

g/l.
 
I would average down here and sell some more if it goes below 1.4635.

Take the second addition off at the first target of 1.4615 and run the rest.
 
mni indicating bids from4650 down to asian lo 4630/35 area....needss to break for more downside which looks fairly clear. 61.8% of the 4468-4815 rise @ 4598area.

G/L
 
That call would be stopped out for -13 then. Was up +43 at one point. Seems logical to assume it would have turned at solid hourly support combined with the 50% of the whole swing. Oh well, lets see what develops next.
 
That call would be stopped out for -13 then. Was up +43 at one point. Seems logical to assume it would have turned at solid hourly support combined with the 50% of the whole swing. Oh well, lets see what develops next.

bad luck...3 bounces off that area of asian lo now 4630/35 area;
11vp1mc.gif
 
Been short since 10 as well, want to see the 11 o'clock candle lows taken out pre NF to keep me in.
 
Been short since 10 as well, want to see the 11 o'clock candle lows taken out pre NF to keep me in.

NFP forecasts - for what they are worth, are against you, (conventional wisdom ,) -320 to -340 -vs- -240k last mth, is the consensus range for NFP, keep an eye too on revisons of last mth and of course the un-emp rate forecast to go to 6.8% from 6.5%. ADP have -250k.

G/L
 
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NFP forecasts - for what they are worth, are against you, (conventional wisdom ,) -320 to -340 -vs- -240k last mth, is the consensus range for NFP, keep an eye too on revisons of last mth and of course the un-emp rate forecast to go to 6.8% from 6.5%. ADP have -250k.

G/L

Cheers for that, always a bit nervous holding stuff over figures.
 
NFP forecasts - for what they are worth, are against you, (conventional wisdom ,) -320 to -340 -vs- -240k last mth, is the consensus range for NFP, keep an eye too on revisons of last mth and of course the un-emp rate forecast to go to 6.8% from 6.5%. ADP have -250k.

G/L

ie a big negative number for nfp and a rise in un-empr rate with say reveisions on alst mth should see $ sell?? so has conventional wisdom, but these markets are far from conventional these days, so anything can happen!

G/L
 
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