I have a knack for shorting at the low and longing at the high

Should I be doing the opposite of what my brain thinks? That way I’d make money for sure!

what is your entry signal?

When I see a fast moving candle

You could try to verify this by getting a friend to take the opposite trades, I suspect you’ll both lose money, but its worth a try

Or have two accounts,do the opposite in the other and see the results.

Also, remember that price moves in waves, a lot of the time that means allowing for a ‘retrace’ before the move continues. This isn’t 100% of the time but from what it seems like you’re trading (i.e low time frames) you’re probably getting chopped out in the noise.

Hey Kashif,
A knack you say, how about you post some charts up.


For instance, I had a short on U/J at 97.689 and a long on A/U at 0.92872. I don’t think charts are necessary.

that’s were the issue lies, if you think of all the pro’s & con’s when taking your entry from a fast moving candle, you will have your answer. ( hope this helps…(it will))

I would pay attention more to wick length then candle development speed,

A fast building candle represents heavy buy/sell, so if anything, jump on the direction of its color (green/red-buy/sell)

I can almost be positive you have no idea of S/R boundaries?

AT LEAST, use the fractals provided by MT4, at the very least…

Best of Luck,:57:

Have you ever taken the time to understand why you do that? I am almost sure that if you do the opposite you will end up with a loss. I suggest you stop trading and go back to basics, educate yourself and then try again.

Maybe people could help you more if you explained in detail why you did what you did, what time frames you were trading on, did you have an idea of how many pips you could earn or lose and how did you come to the conclusions you did. What indicators did you use to help you with your decisions.

ANother thing that helped me was just choosing 1 direction for a whole week… Long or short, it doesnt matter, just choose 1 direction…

When you have positive results, like 75% strike rate and positve returns, then go the other direction for a week. It allows you to focus more for movement…

You’re right. I suspect we would too. I currently lose the most money from being chopped out by noise as soul suggested.

My body’s first reaction is just to hop in whenever a breakout/fast moving candle is occurring. Sometimes I’m completely neglecting S/R areas nearby. Pros: I can catch big moves once in blue moon and ride it all the way. Cons: It doesn’t happen often and usually price will move the opposite direction because market makers were just running stops to take price the other direction.

I use FXCM’s Trading Station. That’s what I do. I go in the direction of the candle and sometimes it works for me. But most of the times I get myself into strange positions I don’t know how to get out of. I don’t use fractals but a lot of times I’ll be getting into a position as the fractal is forming. Haha! Thanks. I’ll need the luck.

You’re right. I have absolutely no idea how to trade. It seems so easy and yet so difficult. I’m not sure what you mean by basics. Is there a basic system that works? If you mean getting better entries and being more disciplined, I get you.

My current strategy is to just go with the current direction. It’s very high risk because it’s not controlled in a sense. I’ll ride price up and down and ideally I’m always in the market. I get chopped out a lot though because I get scared. I look at W1, D1, H8, H4, H1, M15 charts all at once and make my best guess on where price is going next. Basically I trade short term and try to catch 20-100 pips. My SL is usually around the same. I use a trend indicator for each time frame. I use the session ranges. I use price action and S/R lines. I’m not very disciplined because I don’t have a concrete system. I just trade what I’m feeling at the moment.

I’ve been fooling around with this trend indicator. It looks like if I just follow the direction of higher time frame, I should be ok.

Like I shorted AU and longed GA… After the news broke I went short. I was short AU before but got chopped out. Went long. and closed then shorted. A sign of a terrible trader!

I can’t help it because price moves so slow and I’m sitting in front of the computer. My finger itches, ya’know? How do you guys help yourself to not trading when looking at charts? Take a look at my new thread. What’s your trading procedure/day like? I find it extremely difficult to stay awake and stare at price all morning.

I have 120 pips on GA and 70 on AU. Would I be greedy not to close them? They might only be half way to their destination…

…closed em ;/
;/ because it was out of fear for losing my profits and not because I don’t think it’ll go higher.

Don’t feel alone! It happens to the best of us. No one can predict the future. Continue believing in your system and learn from every trade on what you could have done better or what you should’ve done less. Take a couple of Indicators that you’re comfortable with and learn to read it until it becomes a part of you. If you want to do opposite of your brain thoughts, try scalping a few trades on a 5 minute chart where you can go in and out of a trade with One Click Trading. You’ll find that your brain and the market at one point will be going as one in the same direction.

I have discovered that if I stick with my instinct I win eventual by controlling emotion. The last 2 weeks I spent paying more attention to the “talking heads” opinions and the analytics then proceeded to rake big losses based on fear trades.

My take away lesson; Filter the noise, don’t over analyze the charts and trade on sentiment not emotion.

When I mentioned basics I mean about forex trading in general and not a system. There is no basic system to learn which works otherwise everyone would be making money. Trading is an art form and not an exact science.