Trend is not my friend. Please help

[Splitlink]

Laptop1:

Your response showed me that you do not trade Forex. If you did, you'll not make such a statement. The upward price movement (volatility) of a 15-minute candlestick chart within a down-trending daily chart can easily hit your stop and kick you out of the market. How much more a yearly trend and even worse, a 6-year trend. You must surely be a genius to sell the USDCAD contract based solely on a 6-year major downtrend. Wow!

It's much more than "never too low to sell and too high to buy". You must have an idea where the market is going based on what it's doing at the moment of entry. If you don't, you are just gambling. It's always easy after the fact.

Yes, sorry about that. I should have looked at the timescale of those charts instead of assuming that they were intraday.

I am very conscious of the fact that even the daily chart will not give an indication of what the trend for a few hours will be, the next morning.

Split

 

[neil]

Archie

this thread (below) was written by a real trader who still rides the range. Read carefully and digest thereby saving you from suffering more angst and financial pain than is necessary- good luck:


http://www.forexfactory.com/showthread.php?t=27286





Excellent trading advice and perspectives for all traders.

 

[laptop1]

Laptop1:

Your response showed me that you do not trade Forex. If you did, you'll not make such a statement. The upward price movement (volatility) of a 15-minute candlestick chart within a down-trending daily chart can easily hit your stop and kick you out of the market. How much more a yearly trend and even worse, a 6-year trend. You must surely be a genius to sell the USDCAD contract based solely on a 6-year major downtrend. Wow!

It's much more than "never too low to sell and too high to buy". You must have an idea where the market is going based on what it's doing at the moment of entry. If you don't, you are just gambling. It's always easy after the fact.

You should not be looking at 15min charts if you are trading a monthly chart...We are talking about position trades here holding for weeks on end.

I still hold my statment...You should have zoomed in to what I said. I scale in to trades so if I am wrong I am wrong samll........a chart is a chart and yes, I used to trade FX.

I say it again........"ITS NEVER TO LOW TO SELL OR TO HIGH TO BUY"...

 

[rathcoole_exile]

Hello fellows.
First I’ll introduce myself. This was about slightly before Christmas 2006, I met my friend, have not seen him for a long time, we met in a cafe, we drink coffee, and he told me that he is working in a solid bank as a trader and trades mainly in the forex? .

Can you advice me?

Sincerely yours.

Archie baby, I seriously doubt that you're for real, but what you're getting out of this elaborate wind-up I cannot fathom.
If perchance you're not trying to stitch us up and your post is genuine, then you're just about the biggest idiot on God's green planet and deserve no sympathy, support, advice or suggestions until you get your head out of your ****.

 

[rols]

Archie baby, I seriously doubt that you're for real, but what you're getting out of this elaborate wind-up I cannot fathom.
If perchance you're not trying to stitch us up and your post is genuine, then you're just about the biggest idiot on God's green planet and deserve no sympathy, support, advice or suggestions until you get your head out of your ****.

I agree.

Sounds like another wind-up to me.

Can't really muster a lot of for somebody who can afford to open up a 100K trading account on a whim.

Then chuck it down the pan out of stupidity and greed.

Cart before the horse perhaps.

 

[rathcoole_exile]

i think he probably needs to run another nigerian bank scam to get another bankroll together, could be the only way someone this stupid got his hands on that much money in the first place
:cheesy:

 

[rathcoole_exile]

Archie, I'm curious. How do you define yourself, a cretin or a moron ?
I'm having trouble deciding which label to apply. Perhaps cretinous moron ? Or moronic cretin ?
I'd be interested to hear (yawn yawn) your own assessment

 

[rols]

Archie, I'm curious. How do you define yourself, a cretin or a moron ?
I'm having trouble deciding which label to apply. Perhaps cretinous moron ? Or moronic cretin ?
I'd be interested to hear (yawn yawn) your own assessment

Now now. This is not the Elite Trader site where bare knuckles and blood abound.

This is a respectable English site where courtesy and good manners are handmaidens to fair play and good taste...

......where there is a sense of pride and honour and rolling green hills. The Queen and Elgar and marmalade.....etc

 

[searchlight]

Archie baby, I seriously doubt that you're for real, but what you're getting out of this elaborate wind-up I cannot fathom.
If perchance you're not trying to stitch us up and your post is genuine, then you're just about the biggest idiot on God's green planet and deserve no sympathy, support, advice or suggestions until you get your head out of your ****.

I don't think his an idiot. he is a good copywriter imo. he knew the response he'll get and post would attract good viewing. His target audience is not the people who response but the newbies and the traders who are new to the fx trading. after he creates enough question marks about suitability of TA for forex trading ,he will gently point his target audience towards a web page he recently discovered .Probably advocating news trading for fx. So he might be a vendor in disguise.

How is that for conspiracy theory! I know I should go out more....:cheesy:

regards,

 

[rathcoole_exile]

Searchlight, nice assessment.
Rols, apologies for lowering the tone, I'm obvioulsy going troppo

 

[StupendousTrader]

Makes no sense

Looking back at the original premise of Archie_2001, that he invested without any experience and lost money, makes no sense.

First, every Forex Vendor has a demo trading platform that gives you the opportunity to learn how to place trades correctly. Even, if you are Albert Einstein, you will need at least a month to be comfortable with the platform. Why would Archie_2001 suddenly start trading without even knowing how the platform works and how to place orders.

Second, the demo platform is there for him to experiment as much as he wanted to before using real money. Why would he throw away even $10,000 of his hard-earned cash when he could have played the market in real time for free with the Vendors' electronic (paper) money?

Third, where was his friend who was coaching him while he was accumulating these losses? Did he suddenly varnish into thin air? I thought the friend was his mentor or coach guiding him or showing him the ropes.

Fourth and finally, why didn't he stop trading after losing the initial $80,000. Instead, he decided to put back into the market the $20,000 he pulled out?

They don't add up. In retrospect, the original premise not only makes no sense, it is also suspect.

 

[Paul Wilson]

This is my first experience with a troll. I feel ashamed. I'm going to go sit in the corner for a bit.

 

[rathcoole_exile]

This is my first experience with a troll. I feel ashamed. I'm going to go sit in the corner for a bit.

Paul, your intentions were good and honest, no harm done.
And the rest of us enjoyed looking at the charts analysis you posted

Garry

 

[Splitlink]

This is my first experience with a troll. I feel ashamed. I'm going to go sit in the corner for a bit.

Don't worry about it--I don't. If the sensible ones amongst us can get a debate going on any interesting subject, that is the important point.

The original poster seemed rather strange but I took him at face value. However, anyone who can lose $80,000, himself, and then start a websight for other newbies, as another poster suggested might be his intention, is not going to get much custom, in my opinion.

Split

 

[moreliver]

Wooo hooo! Made me laugh

But in case anyone seriously followed this trollfest for nuggets of info on identifying trends, may I plug The Dow Theory by Robert Rhea and the short explanation in Vic Sperandeo's Trader Vic? Nice clear objective methods for determining trends. You will never need to wonder how to draw the lines (currently sloping downwards alarmingly. Shorts on, guys )