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tradingwizzard

Market Wizard
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Everything posted by tradingwizzard

  1. tradingwizzard
    thanks bob, but I still unclear......bottom left or top left.......but from where exactly?...if I move the chart a bit it is looking like having totaly different candles:crap:
  2. tradingwizzard
    Trade nr. 4 Going LONG Audnzd here in 1.1609 sl 1.1470 tp 1.1900 will place a chart a bit later
  3. tradingwizzard
    I hate it when markets consolidates for so long....patience is supposed to be a virtue....in my case it's a pain in the......you know where:doh:
  4. tradingwizzard
    Indeed....funny because the pmi's in Europe were coming way better than expectations but I would say eurgbp flows are drving eurusd as well...recent Vodafone deal helps the pound on all pairs and that drags on the eurusd
  5. tradingwizzard
    the statement above looks a bit intriguing for me.........how do you where to start from with the angle?.....a different candle and the angle is changed.....
  6. tradingwizzard
    strong pmi services in UK and our cable long here looks solid....eurusd tryingto make a runnup to based on a possible ending diagonal on the 1h chart (see attachment)
  7. tradingwizzard
    how about currencies?....as far as I know (maybe I am wrong here) CFD's require lots of margin......way more than any other financial product, right?
  8. tradingwizzard
    how do you decide something is massively oversold/overbought?.....and please don't tell me anything about any kind of indicator...
  9. tradingwizzard
    really? ....not even one opinion? I understand it was a holliday yesterday....however....or are you all long?
  10. tradingwizzard
    have to work more than that to even consider a raise :rofl:
  11. tradingwizzard
    How much is the pay?....maybe we can have a joint session :did I say that?:
  12. tradingwizzard
    it's up to you....only to you
  13. tradingwizzard
    Most likely will break and retest it
  14. tradingwizzard
    I would settle with 90%
  15. tradingwizzard
    I use Admiral Markets for trading only one currency pair, the eurusd.........like their fast execution and low spreads, but most of it like the service and account funding/withdrawing process.......and I use Dukascopy in Switzerland for the other pairs, as the spread is significantly lower there........the major drawdown on Dukascopy is the fact that before the weekend, they automatically change the leverage.......but, funny thing, in time I discovered this helped me all the time.......another drawdown is communication there......in order to talk with somebody there, and actually solve a problem, you gotta have patience........and this chapter is something I am still working on
  16. tradingwizzard
    John Gold......what a nickname .........first chart looks like a zigzag, so I would agree with a possible bottom........but need some confirmation first, and this is not seen on your chart........as for the war association........I disagree completely
  17. tradingwizzard
    best advice in a long time, I totally agree with that one .....however, sometimes my biggest losses are happening not because I am not right....but just because I am a bit too early right.......in the sense that the trap of looking a step forward in your analysis sometimes gives you a competitive advantage, but sometimes it won't.....and there it comes psychology: patience, knowing yourself, ability to cope with temporary losses.......and, like sergso says, the account size a big like from me for that response
  18. tradingwizzard
    keep your cool guys.....keep your cool.....
  19. tradingwizzard
    I don't believe in gaps......some are looking at them as continuation pattern, and not mandatory to be3 filled
  20. tradingwizzard
    Trade nr. 3 Going SHORT usdjpy here at 99.53 sl 101.60 tp 92 time to see some movements and even if this may be a bit early (the entry) and the risk quite bit when consider the upcoming NFP, it is worth the chance as the pattern looks good
  21. tradingwizzard
    you sure about the 7th? these kind of statements like the original post here seem to be too fancy for my style.....no offence
  22. tradingwizzard
    20-25 stocks a week is quite a lot from my own experience and keep in mind that trading is not a race...one should not trade all the time as the risk of overtrading is quite high and no one is right all the time..... while I am not trading stocks, but mainly currency markets, even there this is what I usually do: I look at all possible currency pairs (26 pairs I am watching) and, by the time a specific pattern appears on any one pair (but on a high enough time frame - looking from the 4h chart and above), then I am focusing on the next week on that one pair: going down to the 1h chart and even lower for the 5 min chart and look for all the clues to confirm the pattern on the higher time frame....and the account I am trading is directed on that specific pattern and currency pair until the pattern is done......this might take some time as sometimes I am trading contracting triangles on the daily chart and by the time a contracting triangle is breaking might be weeks/months, and that should keep me busy quite some time..... another advice I have for you is to take into consideration price is mainly consolidating than trending, so trying to look for the begining of a trend is not that easy, as trends do not change/start that often....so look to trade for small profits 20-30 even 10 pips, but try to do 5-10 trades a day and you will see that you are having 100 pips profit possible to be make when price is actually moving a lot less......... last but no least, divide your entries...scale into a position good luck
  23. tradingwizzard
    Yes, it is more of a setup than a pattern....it implies two corrections and an intervening x wave and usually it is appearing before a strong move in the opposite direction....this case, price should aggresively move higher.....fundamental reason usually don't matter when such a pattern appears
  24. tradingwizzard
    Trade Nr. 2 Going LONG Eurusd here in 1.3190 for 1.37 tp sl 1.30 as the chart shows, possible double three running in the makings......extremely bullish setup
  25. tradingwizzard
    This thread is dedicated to all the bears out there and the forecast is not mine, however, it has been made in the late 1988 when price was where it was, as you can see in the image attached. I scaned the chart from "Masterin Elliott Waves" book, written by Glen Neely, one of the best trading books ever writen. The thing is that the pattern you are seeing there is called a Double Three Running and such a pattern it is ALMOST ALWAYS followed by a third wave extended impulsive move. In order for a wave to be considered extended, it should travel more than 161.8% when compared with the first wave. In this case, the extension tool should start from the absolute low, to the highs at the end of WAVE (I) and to the lows in WAVE (II). And from that moment on we should look for an extended move. All in all, the chart calls for the 100,000 level to be touched by the year 2060 if we take the time element into consideration. Keep in mind the call was made when Dow was below 8000 points late 1988. No QE's, etc., known at that date, no financial crises and all this crap we are facing now. So.....your opinions please? Crazy? Stupid? Impossible? ....well, as far as I know, impossible is nothing, and in this case, the buy and hold worked just fine. Enjoy.
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