Trade Discussion and Analysis

[firewalker 10]

you are essentially always in the market.

your rules are Stop and Reverse?

are there any conditions under which you are actually out of the market?

 

only when he's too drunk :rofl:

[cowpip 10]

only when he's too drunk :rofl:

 

What? You can't drink and drive in the markets??? :\

[firewalker 10]

What? You can't drink and drive in the markets??? :\

 

not if your nickname is wasp :o

[wasp 10]

not if your nickname is wasp :o

 

Hell, I can't drink or trade!

 

Yes, Myrtle, I am always in... why not!!?

[cowpip 10]

Wasp, in reference to your "adapt and update" post in the Live Forex Trade thread, I can see now that this "zone" is actually wider than I had figured. It extends from 85ish up to 95ish. So this could be an either/or trade (up or down) on GJ. Don't know why I didn't see that before.

 

Thanks for the tip.

[wasp 10]

Buddy... to post THAT fast, you must already have the form filled out and your order ready to click!!

 

Pretty much... markets don't wait around for you!

[cowpip 10]

I'm still making this too complicated, aren't I Wasp? I'm losing most of my gains on stupid entries that I have to reverse. Granted, this time it was due to a mis-drawn S/R line that gave me wrong signals and caused me to whip about. I have to be more careful.

[wasp 10]

I'm still making this too complicated, aren't I Wasp? I'm losing most of my gains on stupid entries that I have to reverse. Granted, this time it was due to a mis-drawn S/R line that gave me wrong signals and caused me to whip about. I have to be more careful.

 

Be sure of your lines and be sure of your decisions. It's far too easy to make 3 or 4 trades in quick succession as you panic and doubt the level your basing your trade on. I know, I have done it many times!!!

[firewalker 10]

Be sure of your lines and be sure of your decisions. It's far too easy to make 3 or 4 trades in quick succession as you panic and doubt the level your basing your trade on. I know, I have done it many times!!!

 

That's one of my issues too. When my lines are incorrect, or the market does some funny price action around it, I can reverse my position and build up losses quickly. It's important to realize each line is only 'potential', but in the mess of choppy days you can think there is support somewhere because of some congestion area creating a swing point, but in the end it might turn out to be nothing more than traders not knowing what to do in summertime

[wasp 10]

The other problem is the vast array of FX markets available. Kicking myself for just comparing EJ to GJ!!!!

[cowpip 10]

Thanks guys. That helps.

 

Wasp, I have noticed that you will often stop and reverse a trade when it approaches your S/R level even when the 4-hour candle isn't close to closing (it may be half-way finished forming). You must be looking at the length of the days' run, or other candles on faster time-frames, or just have an opinion that the S/R line will be firm (or a combination of all of the above) to make that decision, right? It's not all solely based on what the 4-hour candle does.

[cowpip 10]

The other problem is the vast array of FX markets available. Kicking myself for just comparing EJ to GJ!!!!

 

Sure, but there is no sure way to tell which pair will move the most - unless you play both simultaneously.

[wasp 10]

Thanks guys. That helps.

 

Wasp, I have noticed that you will often stop and reverse a trade when it approaches your S/R level even when the 4-hour candle isn't close to closing (it may be half-way finished forming). You must be looking at the length of the days' run, or other candles on faster time-frames, or just have an opinion that the S/R line will be firm (or a combination of all of the above) to make that decision, right? It's not all solely based on what the 4-hour candle does.

 

TBH, as much to dbpheonix's dismay(!), I think there is a lot of discretion / gut / experience playing out in my trading. I have been doing this a few years now and sometimes you can see what's going to happen through experiences.

[wasp 10]

Sure, but there is no sure way to tell which pair will move the most - unless you play both simultaneously.

 

Swings and roundabouts. traded EJ for a while, swapped to GJ as it had bigger % moves and of course its switched again now but yes, unless you play 10 markets simultaneously, you can never get them all. Unfortunately.

[wasp 10]

Slightly better view overall...

[wasp 10]

In comparison to EURJPY, this is a ****ing joke.

 

go in a straight line GJ you poxy thing!

[cowpip 10]

And not in a horizontal straight line either!

[firewalker 10]

The other problem is the vast array of FX markets available. Kicking myself for just comparing EJ to GJ!!!!

 

I'd consider that an advantage! If one doesn't work, pick the other.

As the indices markets are greatly correlated (I made a post somewhere with the percentages), I have less choice :\

[firewalker 10]

TBH, as much to dbpheonix's dismay(!), I think there is a lot of discretion / gut / experience playing out in my trading. I have been doing this a few years now and sometimes you can see what's going to happen through experiences.

 

just be honest 'bout it, you're not following your plan

[cowpip 10]

Slightly better view overall...

 

That chart is a cool comparison. Jee... I really like your daily blocks!!

[wasp 10]

just be honest 'bout it, you're not following your plan

 

Don't you start! I don't need to follow a plan, the market needs a plan to follow me!

[wasp 10]

I'd consider that an advantage! If one doesn't work, pick the other.

As the indices markets are greatly correlated (I made a post somewhere with the percentages), I have less choice :\

 

All well and good as long as the day you switch, so does the big money and they go back to the market you just left!!

[firewalker 10]

All well and good as long as the day you switch, so does the big money and they go back to the market you just left!!

 

I meant diversify... not switching... just playing them at the same time.

I know a pattern trader who basically does all the popular pairs. He doesn't even look at which pair it is, if the setup is there (purely technical) he takes it.

 

I wish I had more to choose from with the e-minis...

[wasp 10]

I meant diversify... not switching... just playing them at the same time.

I know a pattern trader who basically does all the popular pairs. He doesn't even look at which pair it is, if the setup is there (purely technical) he takes it.

 

I wish I had more to choose from with the e-minis...

 

To be honest, I just can't be arsed!

[firewalker 10]

All well and good as long as the day you switch, so does the big money and they go back to the market you just left!!

 

Btw, I thought YOU were the big money