What should you be doing? -
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thread: What should you be doing?

  1. #11
    quote Sorry about the late response, in UK right now..it's been a doozy and nope, not here to the elections. Just about to read the remainder of your posts and grab. .
    I hope it has been a good doozy and I truly hope at least one of my posts has helped someone.

  2. #12
    quote It makes it easier on the mind.
    Sorry about the late response, in UK right now..it's been a doozy and nope, not here to the elections. Just about to read the rest of your posts and grab. .

  3. #13
    @ Smikester thanks for sharing.

  4. #14
    Member Ejbl's Avatar
    33
    I feel the O/P is a real and pleasant guy who intended good but unfortunately he may be discussing some of his trading thoughts which are generally appropriate but aren't entirely accurate. The most important thing for any new aspiring forex traders is that they must begin learning beginning on a right footing or they'll end up like a completely frued and disillusioned blue arsed fly chasing after the elusive and unreachable rainbow.

    I am going to pass on this simple understanding with regards to trading the EuroGbp pairs just once this time and to not repeat again. This pairs is quite predictable but remain illiquid mainly. The right approach to trade this pairs is merely a 60EMA about the 60min chart along with a pip value of 50pips. (forget all the additional TF charts and indiors). Every time when price move greater than 50pips past this ma means price is going to turn/reverse so long as it does not return below/above the 50pips mark after it crosses. (I will not explain the consequences if this happens so as to not confuse/complie the learning process as it is fairly profound which perhaps someday I expect to function as may be up to it to explain it.) Return to this basic/elementary of 50pips crossing the ma methodology, input a buy/sell commerce on a first preliminary pull-back of 20-30pips using a SL in the 50pips mark and then take profit on the 120pips markers or to get those more intrepid traders take profit just as and when the PA crosses back the 50pips mark upon crossing the next subsequent crossing process. This simple approach not only has quite a high success/strike rate and can pull in quite a fine payback rewards(high RR) but it also set you off on a right footing as you explore and build up with this method where a much bigger and handsomer rewards awaits you when you find the next aha level/moment.

    I don't have any malice in my posting and my intention is explicitly meant simply to help. My apology should anybody is offended.

    I shall leave you to go get those green pips and will disappear like I was here before.

    Adios....

    GS.

  5. #15
    This will be my final post on this thread due to time constraints. I'm hoping I've covered a few topics and more especially, posed a couple more questions than answers.

    Here is a chart:



    it is a monthly chart and it has, for the sake of simplicity, a 20 period moving average. This is to provide us a rough guide to the trend. Your method might vary. But let's just count the up candles over the 20ma line along with the down candles below the 20ma line. Now compare those numbers to the down candles over the line and the up candles below the line. We can do exactly the exact same for the weekly, daily, hourly and 15 minute charts. It is probably easier to assess the pip value of these areas. Anyhow, you get the idea.

    Should we utilize some of the techniques outlined in the previous posts we can see it might be possible to create a profit during a long period using consistently great cash management. When we were to exchange off the 15 minute chart, jumping in if it's obviously the right time, let winners to run and cut brief losers, what do you think might happen? It is easy indeed, but entirely counter intuitive.

    This is an example:

    But do not take my word for this. Do the work and prove it for yourself. Thanks for reading.

  6. #16
    Numbers round. Sounds sexy, does not it? Well it's sexy and we are on the lookout for them. Why? Because these are the numbers everyone is referring to. Do you think it will fall below .9500? I would just spend a while studying 1.0, 160.00, 175.00 and look at price behavior at these levels.

    Here is the thing. If the price is trending upwards, as an instance, and it breaks through one of these substantial levels, it will frequently call back to earn a foundation there, before continuing on its way. This is called a retest and is one of my favorite regions to trade. I get the impression others like to do this so long as all of us keep doing it, we will create pips.

  7. #17
    Thank you for the input everybody. Therefore a fast topic now is called Let the dog see the rabbit. An saying which speaks for itself. It means clear out the crap so that we are able to see what needs doing. So often I see charts so filled with technicals and indiors that the price is all but obscured.

    We need to see the monthly, weekly and daily charts full screen to see what the price is doing. That will let us focus on what is happening on the lower time frames and give us a clue, a bias to follow a fad, a channel or what are you and areas to avoid. Please see post 14, 2nd chart.

  8. #18
    If the previous post was a little dull I hope you can wait for the juice. To put it differently, what made me change from a hopeful, hard working loser into a constant profit maker. I ceased using indiors. As usual, a very simple phrase like that hides a multitude of details. On occasion you'll come across a prosperous trader who uses indiors. They will understand the way the indior works, what it relies on and, so, when it isn't dependable. To put it differently, they are using it as a tool. In an ever changing market there is no true substitute for the human...
    I occasionally find myself reading some of this forum post here where traders discuss all these indiors they use and the way when they bunch this indior with this one, and this indior together with that moving average, I try it out and my own charts turned into a jumbled, hard to comprehend mess that is completely incomprehensible. It's only in the times that I understand that profits are made in the long term and not with some flash in the pan indior that can give me 30 pips each two hours is when my charts and also the currency market make sense to me.

    I've read many books which use indiors as part of the egy. I have also read lots of books that only use price action and price action exclusively due to their egy. It's the price action egies that work the best for me. I am aware that there are traders out there which will swear up and down about how indiors assist them make intense quantities of pips each daily. I am aware that a number of them are telling the truth, most are just searching for clicks on their site or forum and others are just dreamers.

    Good forum, I truly like it.

  9. #19
    Stay tuned. Keep it going.

  10. #20
    quote It makes it easier on the brain.
    LOL, I agree..just watched your most recent link, nice. .

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