What Every New & Or Aspiring Forex Trader... Still Wants To Know

In chat in 15 minutes…

Hey,

I would like to see some more explainations in determining which swing is valid and which is the one to look at. This was my biggest problem at the beginning and I’m still struggling a bit with it. I can always find an OTE for any direction in “swings in swings” and I probably start seeing too much of them. I’m often a bit unsure which one I can trust :slight_smile: Should I enter if I find one and set my initial target for the OTE of the other side and then look if it’s going to turn or if it’s going to do a good swing in the direction I entered? I’ve added some pictures of a trading day where I could find many oppurtinities and I didn’t know which is going to be the best one. Maybe this day is a bad example, but I have this problem on many days. When I look at the charts when the day is done, everything is clear ofcourse hehe. But I’m getting quite nervous when I enter on an OTE and wonder if this is a swing or if it’s just a retrace to another OTE.

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ImageShack® - Online Photo and Video Hosting

I hope somebody can give me some clarifications and we can stop discussing about this stupid topic and come back to improve our trading :slight_smile:

greetings :smiley:

I’m primarily a scalper, so absolutely.

Can someone take notes during webinar and post here please. For people like me who are away.

Thanks ,

I “liked” this post, but I don’t feel one “like” accurately reflects how excited I am for this webinar. This forum should have an “exponential like” system.

Well yeah, the trust does come from seeing everything work so consistently. But let’s just say I believe in your sincerity because it is free, how about that?

As for the open interest, would this source be better for getting my data? This is daily opposed to weekly on the COT reports…

Sure… its the source. :wink:

Did tonights session help?

Well, only working with last week’s data, I’ll have to build up my data mine as time goes by. I assume if I want historical data, I’d have to shell out some bucks. But I think I’m pretty close to the final product…right? :wink:

The Cable short from June 14 objective was just triggered… 500 pips… voila. :wink:

Save yourself the work… I think without this plotted on an actual chart… its very cumbersome to use. Consider websites on the net that offer the same thing you are trying to do but no work but to click the OI indicator. :slight_smile:

Can I make a request? Anything and everything that supplements your current teachings would be valuable, but, if possible, could we have a little warning before the webinar occurs? I would have liked to have been in chat today, but I was catching up on your other posts and didn’t realize you were available real time. I have tried in the past to fill in others who weren’t lucky enough to catch you as you entered chat and imparted some of your experience, but I realize not eveyone has the chance to do that. (To be honest, I don’t think you realize how valuable some of the comments made in these chat sessions and webinars are. Sometimes it can just be the smallest of comments that triggers something in those listening that enables them to make the leap from understanding 60% of a concept, to fully understanding it. It is very disappointing to have missed those learning opportunities.)

Regarding the scalping, you mentioned that trading in the direction of the COT commercials would aid our scalps…that means a positive net change from previous week’s data would support longs, and a negative net change would support shorts?

Best regards
Ali

P.S. For the record, I don’t idolize or place any kind of shrine in your honour on my mantelpiece! You have worked hard for your knowledge, and your ability to perceive what is really happening in the market is admirable, but luckily for us that ability can be taught (at least to the extent that everyone will be profitable…it is inevitable that some will be more so than others, and therein lies the skill). From my perspective, what may be seen to some as hero worship is merely common sense. If I am given the chance to cut my learning curve by a month for every video that you place out there, and a week for the little comments that YOU probably place little value on, then why pass on that opportunity? Nobody has the ability to stop the passage of time, but we are occasionally given the opportunity to cut down on waste. You would have to be insane to refuse the greatest gift than anyone can bestow another person…and just as crazy to not show gratitude.

Hi All,
I am trying to give some kind of meaning to Bond Yields divergence. Here are details as of Monday Eve EST time:

  • 30 yrs and 10 yrs making higher lows.
  • 5 yrs and 3 months making lower lows.

[B]what these diverging yields mean to us ? [/B]

Any input is welcome.

PerfCharts - StockCharts.com - Free Charts[YLD]

I was watching this come down ever since you highlighted the trade on your PTC video. I thought you would probably have taken profits last Thursday when it got down to 1.5935, but it is a testament to your analysis and the confidence you have in it that you waited another two days for it to trigger the 1.5920 level. Awesome!

Yes it did a lot for me as I was able to ask you this question when I saw it on your chart :slight_smile: I had luck and was able to see most of it very clearly, but for the rest of the session it was sometimes hard to follow as I saw 2 charts at one time when you zoomed in or changed hehe. Looked like a weird graphic bug :smiley: I hope to see the thing wih the daily direction on a bar chart in a PTC as I wasn’t able to see this one ;(

Anyway thanks that you spent your time with us and yes, it would be could to see another one announced. I would like to join again :slight_smile: And maybe somebody who can see everything clear should make a record of it for those who can’t attend :smiley:

greetings

PS: I’m currently short on the turtlesoup which occured in LO Killzone. Let’s see how it works hehe.

cable or fiber? the dollar is on fire, can’t be too terrible of a play

That’s corect I was.

Right.
So I guess these institutions you were working for at the time were going through some sort of internal training restructuring & budget tightening?
That would explain the need for them to outsource your tuition program to dodgy seminars, junk trading books & “sell the sizzle” dvd courses, which it appears you also had to pay for out of your own pocket.

Sounds like they were a whole lot of fun to work for.

I might add this is the same gimmicky, glib marketing tat that many of the thread contributors here have trashed so often on the forum & refused point blank to subscribe to.

Hey, it’s a beautiful thing you’re doing man, all credit to you & good luck with it, but you don’t have to pretend to be something you’re not just to engineer a little credibility. There’s no shame in admitting you’ve had to chase the same dream as all the rest of the guys you’re helping on here.

You took a few risky punts & came through the other side & now you’re trying to save these kids from wasting their dollars. Nice.

Well, fresh week & fresh meat to cook.
GL & GT as you all say.

Nice attitude, friend. I might speculate such cycnicsm was beaten into you by your presumably painful experiences in the market! :slight_smile:

Anyway, now it’s time for you to pipe down and let the adults get back to their discussion.

GLGT.

was on the fiber and went to SL. Looked good at the beginning, reversal right after the range was broken. But it went up with London open. There was a SMT Divergence for long but it occured before my Londonopen KillZone, so I didn’t take it. This one would have been a very nice trade :slight_smile:

You literally bring nothing to the table, everytime you post. Is that a point of pride for you or something?