omg see gbp cad to......thats nuts i whish i was on that one to...........thats just crazy, so easy to spot the entry. SHAME i was not spotting that one to........................MISSED THAT BOAT COMPLETELY.................................NY ON STERIODSI will take what the market is offering right now, rather bag it then sit on a big pullback coz my entry is on 50 pips back and price will go down like a rocket…do not want to be overburdened with cad i am selling of…
Trying out the fibs on AUDJPY. So I guess it doesn’t matter which play you engage, the fibs are always drawn the same way? So here I drew the fib from the last almost long sqz play at the 20 ma, up to the 200ma. Now I’m playing a BSC which hopefully will reach continue down and reach the 261% fib…correct application?
good judgement …low momentum but it could drop like a rock, hopefull you got the green candle so your price is better and your sl…LOW LOW LOW MOMENTUM…NOT CONVINCING GREENS NOT CONVINCING RED, RANGE BOUND…HOPEFULLY IT COMES OUT TO PLAY SHORT FOR YOU
Which green candle? Actually I just saw it moments ago…lol…and since price was still at the close of the bigger red bar, 2 to the left, that “Closed Below” the 20, I justified entering there because if I had seen it 2 hours ago, I would have anyways at that price…80.47…stop is top of the bigger red bar, so 80.62 + 3 pips for spread…80.65…potential loss = 18 pips
Glad I sold of my cad, it would be a burden , i think it will retrace…either ways …better one in hand then one thats suspect on hope.
Ok guys i want to just give you all some numbers, becuase loosing is a part of trading we all loose and then we have to step back and pull the triger.
Ok just usd cad for the purpose of letting you know about losses…
From the 24th untill today on usd cad
i lost a total of 23 pips 3 trades lost
and won a total of 87 pips 4 trades won
all of the positions were long even the loosing ones…i was on the beat of the market but sometimes you get stoped out on a spike or your entry for long was to early and there was some pullback that you do not want to risk. On a loosing trade never have hope…cut your loss without a second thought…any of my losses could have been 40 times more then they are. If its not working dump the position. Never have hope. Pay the market its dues.
To be a successful trader , money management is really the key… and never click a buy order without a stop placed prior to entry…always stick to your SL…never guess the market on a turn against you, pulling back a SL that would loose you a 10 will quickly loose you a 1000 if you mess with it. Believe in your projections but not at the expence of your equity.
Do you find trades at this time of day that are worth taking?..or hardly ever? Maybe entries work better news releases come out? Which don’t seem to happen much at this time of day.
good question…you know if the pair is one of those that has been trading below the 200 for say weeks then it touches the 200 then theres always a big fight for control in London and NY. Asia takes over that normally and moves it up considerably overnight. But generally, London NY is the most volatility…but i normally stick to London as a bread earner, CAD is so much fun right now so i am in and out.
oh that reminds me i will get to trading news later on in the thread
the hammer with tail to the left, that s bullish and price has been printing higher lows (You want lower lowers) which is very bulllish.i.e. lower lows = bearish higher lows = bullish
lower lows + lower Highs = break out to follow price under pressure
Yes, but couldn’t an argument be made for bearish on the the last 4 bars which were all printing lower highs & lower lows?
yes it could be but you must consider on that the red candle did not brake the lower trend line of the 2 green candles next to it. thats why channel lines really help
if it brakes the bottom of the tri angle will drop like a rock…nothing convincing for bulls, you just entered early …look for confirmation draw your charts like mine
amm
what does BLC and SQ mean?
If you start reading from the following post link, you will find it…hint…item #5 
You have to start from the beginning.
So where is price going on aud/jpy? Up or down? I’m frustrated. Dennis help us with this fib trading. Lol
ok ok amm i got the BLC meaning
and the SQ short means = squeeze short , right?
what constitutes a Squeeze short? i dnt get what squeeze means
Did you keep reading?..you have to read all the posts…did you watch all the youtube videos yet? If not, go back to the beginning and go through each post…the answers are there…no skipping :58:
if you look at the chart i posted earlier, i am saying i do not know hence 2 arrows for potential break out points (Then combine that with SQ and BL to determine your best bet! it could be up or down, but if it brakes the trendline on either side thats my confirmation long or short. i.e. brakes trendline above 20 go long for Squeeze, breaks be low go short for BSC.
will put some charts on doing trendlines later to day …TL important
