Anyone got to short fiber today?>
No, but I exited my long yesterday evening (luckily!), took my 30 pips and ran - reason - US10yr started to rise at 18.00gmt - the usdx was still falling and also Bund - usdx triad div - when I see that with US news next day thatâs enough for me to get out.
Hi Mostwantedpip.
I feel your emotional pain and I can relate to it. It sometimes feel like forex really sucks. I also allowed myself to fall in the trap of waiting for the market to turn in my favour and doing some serious damage to the profits I have acquired for the past 3 months. Until last week I had traded my account from 2000 to $3140 by just using ICTâs simple and most basic tools(OTEâs, Fibs and S/R key levels). I allowed that streak of success to get in my head and started to water down the importance of risk management. I then went against all my rules that I had set for myself: trading against trend by going long with the yen when the trend was just so strong, I adamantly refused to use a stop loss, I traded outside of kill zones and started watching pairs I never planned to trade and some other foolish things I did. That caused me lose over 40% of the total profits made the past three months. Its the most crazy thing that has ever happened to me. In a way I think its a âgoodâ thing that happened to me because it makes me realise that I have not figured it all yet and that I have got to respect the markets for what it is. Indeed the most difficult thing that in this business is to master ourselves, we make or break ourselves in this business and we can never lose sight of the fact that we can do a lot emotional damage to ourselves if we donât stick to the rules. Its all on us infact its all on me and I have since then taken responsibility for the foolish act that occurred since last week.
So my friend take heart, and lets pick ourselves up again and move onâŚfor SUCCESS awaits us.hehe
PS: For those who are interested to see what happened u have it here: Fx-Undiscovered System | Myfxbook
Feel free to give me a good lashing but please not on this thread. It could be through the msg system of myfxbook. I will be happy to accept any strong criticisms and counsel for it is what I need at this moment.
Here is an example of WW with no apex. I am stalking WW5 to fade long.
Actual Pattern name, Flag - Continuation
So far symmetry AB=CD(blue lines) comparing the distance and time are equally matched.
Red lines are showing price projection from previous impulse wave extended into the future from WW5.
Notice where 1-4 WW projection converges with price projection.
1st target objective is WW4 closing 1/2 of position.
WW 3 to 4 will be used to measure reflection for possible WW5 termination.
Look for Stochastic Divergence at WW5 for confluence.
This is 3 price patterns converging into 1.
Can it really be this simple?
That is the truth and the key to being successful in trading!
well, iâm short in the meantime 
at least on fiber
Went short at 3370 - 15pips stop for a âcheapâ entry -ote area from asian high.
Type 2 bearish div on 15 min / smt div on cable/fibre - fibre reluctant to go back up to Asian high same as cable.
Doânt like trading pre-news so am target is 3335 - letâs see what happens.
(the reason for tight stop - if it goes to 3385 then 3400 is in sight and my trade premise is wrong.)
I am still in there - glad I took a very small position
I was anticipating a push down on a smaller WW5 for a possible long at NYO, however, zoomed out, going to skip NYO and wait to see how this WW4 unfolds.
If WW5 comes into play then I will be looking at riding the continuation short.
your 15 pips should have been stopped out though 
Just took a short on fibre @ 1.3380.
Lots of reasons for short
Smt divegance did not incude a pic, but can be seen on 15 min
Gartley Pattern
Weekly OTE
Reflection on 4hr
IT-MS broke to the downside on 1 and ST on 4HR MF is down
Wolfe Wave
USDX retest of KS/R level @79.40 plus OTE on 4HR 79% retracemnt
NO KEY SPEECHES TODAY OR IR announcement
Dropped all risk to 1%
Took 30% off @plus 35 pips will take another 30% 1.3330 ish
iâm in that one with you bud. did not take anything off yet though. expecting a bigger move. too clean levels and price inefficiencies to the downside. a number of targets all the way down to 1.3150
I read EVERYONEâS messages today and wanted to really thank you ALL for your contuned support and great advice.
It really means a lot for me. Thank you
This one of the reasons why i have grown such a affinity to this threads is because of itâs wonderful members !
I agree with you completely, but after that beat up i want to bank something 
ya, i totally understand and thatâs what i thought good job gettting back on your feet!
Thinking about it, if this going to be a down week and we have posted weeks high on Monday/sunday and traded lower today then maybe the trend will continue towards the end of the week! We talking with a bit of luck 300 pips or so
Hah, just as I thought, Iâve not looked at the forum since Christmas, Iâve been focusing on my trading, but just as I thought most of you guys are all over the place, soon as I heard Wolfe Waves mentioned, I knew the thread would be littered with Wolfe Waves, and no surprise I was right.
Personally Iâm not a fan of Wolfe Waves, but that is by the by, but the point I want to make is that most of you are trying to use every single tool on every single timeframe, or even worse looking at weekly charts and COT analysis and trading off the 5 min, that is WRONG, they do not go together.
You must get your heads around the basics and know what to use and when to use it.
ICT has done a matrix of this in TD4 - USE it.
I use Asian high and Asian Lows Daily TF SR, MS, MP, and I use a couple of indicators to confirm my H&S patterns, the most reliable pattern there is, itâs part of market profile, H&S and MS go together hand in hand.
That is all I use, and it didnât stop me bagging exactly 200 PIPS last week on that nice move, and I only bagged 200 PIPS exactly because I thought it looked cool on my trading record, it was quite clear there was a little bit more in there, but that 200 PIP marker will serve as a milestone.
SO get the basics right, build up from a foundation, is your foundation isnât right, your trading will collapse.
donât let yourself get influenced by me!