Lol,fxlion, at least thats a strategy...but seriously though, we shouldnt depend on just
chance or others to make money in trading...The beauty of the CHART PATTERN RECOGNITION AND
PRICE PROJECTION STRATEGY is that you dont need to cram your screens with all sorts of
indicators because entries and exits are taken DIRECTLY FROM THE CHARTS.
Yes, you are right, mon ami...Price on the GBPUSD made a high of 14991, which was 8 pips
less than our 1st target of 14999..by placing your stop loss at entry point after +20 pips
ahead, you would have been stopped out at a profitable breakeven of 31 pips or less..Not too bad..
Stallion, I am having a hard time following your past calls. Where exactly can I find them.
I have a time difference and I'm trying to make proper adjustements prior to trading. You
start calls around 1am my time. Please let me know where on the website I can find an
archive. Also, from reading your posts you suggest to take half profit at 20 pips, then move
other half to break even s/l, if 1st target hit then sell half and so on. Is this correct
and holds true for all your calls? Thank you for the help. I should be up and running on new
year, I see big market swings coming our way.
Thanks for your mail,pips...I thank God for the positive mental attitude displayed in your
comments about the New Year..If we can make profits during the most volatile 3 months in
trading (October to December), then there's good reason to expect better things to come in
the nearest future.
I assume London Session starts 1am your time, depending on where you are in the US. The
archives can be found here:
Review Of Strategic Tips On Forex Signals In Forex Forum
It would be better to take off half profits when +20 pips, rather than waiting for 1st
target to hit..Time and tide, along with price,waits for no man..
Robert Kiyosaki, of the Rich Dad Poor Dad series,talked about the stock market burst some
ears ago, along with its effects on baby boomers and their Social Security program. Even
though he gave out some suggestions on how to avoid that pitfall by personal development and
education, most people then castigated him as a fraud who just wants to sell his books and
seminars. From what is going on in the global economy and the US, it appears he has been
vindicated.
ABC News: Will We Be Forced to Work Until Death?
Late last year, on one of the popular Nigerian forums, I predicted the Nigerian Stock
index(NSE) have reached its top and suggested readers should cover their positions and
unload their stocks. But as at then, the bulls were in control, stock newsletter and article
writers were fueling the bubble frenzy and screaming ''BUY''..
The young admin of the forum, maybe out of ignorance and emotional bias, reacted by banning
all forex traders off his site. But that didnt stop the stock market bubble to burst and
uneducated investors losing substantial amount on their equity. Those that took the time,
money and energy to understand and educate themselves on market behaviour saved themselves
from the bearish drop and even made profits from the decline.
In essence, as investors,we should strive to invest in ourselves.No one knows it all. Most people made money in the Great Depression of the 1930's..We can too..
Hi Stal,
First of all thanks for pointing me to forexpeacearmy as it is a very good source of forex
information. I have been going through the broker reviews and feel like it has stopped me
from taking a wrong decision. I have managed to shortlist a few which I beleive are honest
as per the reviews.
Your comments or experiences on any of these would be very helpful, especially if u could
point one or two which I can go live with.
1.MB trading
2.Ikon-Royal
3.Tradeviewforex
4.Alpari Uk
Any help and insight would be highly appreciated..
Thanks,
Helloo there...
Well, it would be unseemly if I publicly endorse any of the brokers due to conflict of
interests.So am throwing it out in the open...Anyone that has comments or experiences with
any of these is free to post it here. Thanks once again.
so for wednesday, we put a buy stop pn GBPUSD @ 1.4740...1st target @ 1.4765..sl @ 1.4715...
also a sell stop @ 1.4700..1st target @ 1.4671...2nd target @ 1.4665..50 pips sl
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24-12-2008, 01:44 AM #21
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The great depression 2
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26-12-2008, 02:33 AM #22
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Season's Greetings to everyone,
If you check out our chart above, you could see price moving dynamically from left to
right..we first followed it with our buy stop that yielded 30 pips, and the sell stop that
yielded 35 pips..
The present buy stop @ 14705, 1st target @ 14730, 2nd target @ 14745, sl @ 40 pips away, is
anticipated to yield 40 pips or so..more like chess.
For readers of this thread, I want to say a big thank you for everything...
To show my gratitude, I am giving out 2 e-Books titled
1 The Art Of Creativity
2 Fibonacci Trading - How To Master The Time and Price Advantage
Merry Christmas and a Prosperous New Year, my friends..and may the New Year 2009 bring hope,
joy,health,love,and success to all.
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29-12-2008, 10:40 PM #23
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Boonga boonga,what? reminds me of Indiana Jones and Temple of Doom...hey king of diamonds,
thanks for your hospitality..really appreciate it..howz kuala lumpur? The Russians said I
should google their language, the Japanese, the Indians,the Italians,Germans,even the
Peruvians tried to do me in but no online translation yet..like a frigging UN linguistic
convention met..would be grateful if you could teach me a lil Malay, for the ones I know is
virtually nonexistent..lol..going down to Singapore next year for some traders' conference
but dont know whether the language barrier can get me past the airport...thanks once again,
king of diamonds
Helloo there,folks,
Price made a BULLISH GAP on the start of the Asian session, and before we knew it, more than
40 pips was emancipated from our buy entry of 14705..
Even the 60% BUy WINDOW was negated as price on the GBPUSD dropped more than 200 pips
afterwards from the TRIANGLE PATTERN shown above.
Well, what can I say?
Well, fxlion, maybe a lil positive mental attitude thinking might be in order?
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30-12-2008, 01:41 PM #24
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Helloo moneyadd, thanks for reading all my posts...trying to make the time to read them myself..lol..fibonacci are great support and resistance levels that can be used in trading to ascertain price movement..but even with the knowledge of 'fibo'' levels, many traders still make losses..prefer the 60% windows which are more simpler and accurate in my personal opinion..remember KISS? Keep it simple,Smarty..so its about applying the right tools for the right markets...not all size fits all in trading..
If you check out our chart below,we used the TRIANGLE PATTERN, more specifically, the SYMMETRICAL TRIANGLE PATTERN. but why is it called a triangle? Because it looks like one..Triangles usually form part way through a strongly trending move and represents a congestive phase in the marketplace. These patterns are important because they are typically followed by sharp increases or declines in price. An established triangle pattern is a valuable signal prior to a relatively predictable price change.
Yesterday, we made more than 200 pips from our symmetrical triangle which was part of our live practical trading.
1.4770-1.4576=0.0194
1.4651-0.0194=1.4457(target point)
Symmetrical triangles,which are lines connecting peaks and troughs tend to converge at the apex which is at the centre of the pattern.When price breaks outside of the pattern, there is a high probability that the price will trend in the direction of the breakout.Once price hit our target for more than 200 pips, it now retraced upwards,. Our buy stop @ 14507 caught the bullish correction for 75 pips..
Price then retraced downward again to our previous short target of 14457, hitting it twice..
Before we knew it, price knocked 3 times and slipped downwards where our sell stop was on hand to take the move...''come to papa''..
So moneyadd, hope you now understand...actually, my clients dont really want to know the process or method in which trading takes place...all they are concerned with is whether we make money at the end of the month,recession or not..thats the primary objective..making money.
sorry about that, jeff...try and look for a better and more honest broker...Even if you got the best strategy in the world, the choice of brokers is pertinent for the realization of your trading goals.
[11:53:40 30/12/08] Stalion : no need to be confused....we put a buy stop on gbpusd @
14550...1st target @ 14575..2nd target @ 14615..3rd target @ 14655
[11:53:44 30/12/08] Stalion : sl 50 pip away
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31-12-2008, 11:33 PM #25
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Helloo needinfo,central bank intervention is the buying and selling of currency, foreign or domestic, by central banks in order to influence market conditions or exchange rate movement for fiscal or monetary policy purposes.
Why should the Bank of Japan intervene for a strong dollar? Because it is to their best interests. Japan, as we all know, is an export driven economy and if the Japanese yen is stronger than the dollar, it hurt their exports and consequently their economy. Why import 15000 dollar cars from Japan when you can get it cheaper right there in America? Why import expensive electronics, computers,due to a strong yen, when you can get it cheaper from America itself, or even China or India?
But wait..Japan is also a savings oriented economy, in which, majority of the US international papers or debt are held by it...So the Japanese are not thrilled to watch the value of their investments in the US bond,Treasuries and Capital markets go down the drain as the US dollar weakens..
The USDJPY monthly chart below shows the decline of the currency pair..
Compared to EURUSD(eurodollar), which is on an uptrend,a strong dollar would have a weakening impact on the euro, popularly known in international financial circles, as the ''antidollar''.. Even Trichet, the President of the EU Central Bank(ECB) might likely welcome the gesture of the Japanese with open arms, because a strong dollar would weaken the euro and save them the unsavoury task of slashing interest rates in the nearest future..You could do more research if it affects your personal finance or business objectives, need
info..Did I hear someone say ''Don ichiban''?
Let me whisk you away to the forex charts on the DISSECTION OF A TRADE GONE WRONG. Remember the loss was also important though the LESSONS LEARNT from the loss are MORE IMPORTANT.
Now we are going into the reasons why we took a buy stop at that point..
A 123 bottom formation was observed prior to the alert given out, along with an inverted head and shoulder pattern forming at the bottom...Both are reversal pattern telling us that price is about to reverse from its downtrend to an uptrend.
MACD also made a positive convergence to price which was a buy signal..For the our fib fans out there, a la moneyadd, price made a turnaround on the 30% window, instead of the 60% sell window..which is not that unusual given the strong trend downward in price..
So it was more of a matter of TIMING, rather than STRATEGY. We might be right in taking a trade based on what our strategy is telling us, but if the timing is off bat,we take the loss...In this instance, we lost 50 pips yesterday..the market is always right..quite an humbling experience, isnt it?
So for today, wednesday, price finally came around and rocketed past our 3 targets like a valkyrie..technical analysiswise, our strategy was sound but the timing was off...price then compensated us with more than 105 pips..$105 minilot,$1050 standard lot on GBPUSD.
HAPPY NEW YEAR FOLKS and we give thanks to God for seeing us through a bumpy 2008..WELCOME
2009.
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02-01-2009, 05:06 PM #26
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Hi radatats, I can see your chart was taken from the GBPUSD daily..The cable have been
staring at its bottomless pit like a deer in front of headlights for months now. Like the
picture suggests, GBPUSD has to break that upper resistance trendline before a reversal can
be said to take place.. And by price closing above the No 2 level of the 123 bottom( where
your 2nd purple arrow was), an uptrend can be said to confirmed in the midterm.MACD positive
divergence to price can also be seen on your chart which foretells a probable bullish run.
But remember, technical analysiswise,the trend is still down and traders are looking to sell
at any good upward correction level. I see no changes..''Buy the dips, Sell the
rallies''..ratatatata..thats just the way it is..
Tsk tsk tsk tsk...ur enjoying my threads and still trying hard to understand it all? Nice
paradox, jehunter...believe me, ur not all alone...such is life...lol
If one of your New Year resolutions is to invest in yourself positively and creatively, I'll
be glad to help in that respect, mon ami..Please pm your email address so I can send it to
you,ok..Thanks..
So for today, Friday the 2nd of January 2009, we are looking at GBPUSD 15 minute chart where
TA wise, price is supposed to make a turnaround to the downside..while fundamentally, price
is supposed to go up due to the lower expectations of the US ISM reports coming out 4pm
Nigerian time.. so in less than 10mins from now, news is coming out...To Be Or Not To Be? TA
or FUNDAMENTALS?
we put a sell stop on GBPUSD @ 14515..1ST TARGET @ 14490..2ND TARGET @ 14465..14415...
Also a BUY stop @ 14535..1st target @ 14575..2nd target @ 14515..3rd target @ 14655..50 pip
sl
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06-01-2009, 01:24 AM #27
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cool....please check your email box in some few hours,jehunter..And a tip..maybe you could consider WRITING your goals out for the year 2009..10 to 15 goals are okay..might be daily, weekly or monthly..just write it out and go through them regularly so as to keep focused,okay..Brian Tracy taught that strategy.
shuo.. if i yarn wafi for you,you go ja..abi no be to gazu the kuza naim be the koko..google
am whether you go understand wetin me yarn
Yes it is,Strategist...The name is the CHART PATTERN RECOGNITION AND PRICE PROJECTION STRATEGY. I dont mean to brag, but its one of the best techniques any dedicated trader could use to be profitable in the markets..I get invited to speak on international traders conferences on this strategy..at least,thats shows how good it is. Though it is not 100% perfect neither is it the ''Holy Grail'',you can be rest assured that your trading performance would get the required EDGE to beat the markets,especially in the long term.
Quote from TradeViper:
forexgreen, very smart to show only 71% positive trade rate, not an outrageous number
like 90%, but not too low. Now if the statement was audited and certified by an
internationally known firm, I think it might just matter. By the way, where are Mandel and
Reaver????
Tradeviper,your venom is simply out of this world, you know..seems you really took the time to go through my performance report over the last 3 months of turbulent trading. Actually, I didnt even know it was up to 71%, so you must be a good statistician. You can manipulate the figures but you cant manipulate the graph of the detailed report.Check the graph below the figures again and see if they match.Even if alien extra terrestians fly down with their UFO to audit the report, there would still be doubting Thomases..so I'm not bothered.
Look at Madoff..Are you trying to tell me that 'internationally known firms' didnt audited his reports over a decade before +$50 billion was ripped off? some say Steven Spielberg, who
was one of the 'casualities', might get sued by Madoff for the rights of the pending
Hollywood blockbuster film chronicling the scandal.
I believe in honesty and ethics in my chosen path..Trading is a vocation where many are
called but few are chosen.I've paid my dues and am still paying my dues in this
industry,tradeviper..easy on the hiss,plzzz
By the way, Who are Mandel and Reaver? Sounds like Beavith n Butthead?
[09:30:38 05/01/09] Stalion : helloo fellas
[09:31:09 05/01/09] Stalion : no news worthy item for Monday so we stick to our friday's
short call
[09:34:59 05/01/09] Learning_pips : hi stal
[09:38:18 05/01/09] Learning_pips : its quite funny though in carolyn's book there is a
mention of a gartley pattern which is a complete opp of the 1-2-3 pattern
[09:40:45 05/01/09] Stalion : hmmmm....havent had time to read it myself
[09:42:19 05/01/09] Learning_pips : its chapter 8, two step pattern..she identifies the
1-2-3 pattern/gartley pattern as a continuation pattern..quite interesting..
[09:42:46 05/01/09] blue : hi
[09:42:55 05/01/09] Stalion : gartley pattern on fibonnacci?
[09:43:05 05/01/09] Learning_pips : just goes to show how many ways patterns can be
interpreted by different people
[09:43:16 05/01/09] Stalion : helloo there blue
[09:43:46 05/01/09] Learning_pips : basically fibs have to applied on the pattern to
identify a cluster
[09:45:03 05/01/09] Learning_pips : "The two-step trade setup is a zigzag pattern that
corrects a prior trend"
[09:45:09 05/01/09] Stalion : range/consolidation pattern? can u identify it on a chart?
[09:45:44 05/01/09] blue : Stalion im new here
[09:46:04 05/01/09] Learning_pips : basically the pattern is exactly the same as a 1-2-3
pattern but she says that its a continuation pattern
[09:46:10 05/01/09] Stalion : cool....howz trading, blue?
[09:46:26 05/01/09] blue : Stalion not so gud
[09:47:18 05/01/09] Stalion : meaning d downtrend would continue? can you give us an example
on a live chart?
[09:47:24 05/01/09] Learning_pips : so according to her once we have points 1 and 2, we can
apply fibs to identify a cluster where 3 would be and the price after it reaches 3 would
continue its decline if we take 1-2-3 as a bottom
[09:47:55 05/01/09] Stalion : how do you mean, blue?
[09:48:35 05/01/09] blue : Stalion im bearing a lot of loss for past few months
[09:48:36 05/01/09] Learning_pips : well there are numerous examples n the book, i am trying
to establish it in the live charts..will keep u posted..any insights on today
[09:50:41 05/01/09] blue : Stalionim so tense now a days
[09:50:49 05/01/09] Stalion : whatabout strategy?
[09:51:48 05/01/09] blue : Stalion actually i was just trading by my own mind and short
trade with the stop but mostly i faced my stop hit
[09:52:48 05/01/09] Stalion : as in, what is ur strategy in which you've been using all
those while?
[09:53:21 05/01/09] blue : Stalion actually i just watch chart with 1 hourly candle and its
spread
[09:59:07 05/01/09] Stalion : hey, dats not a strategy ,blue...just a hourly candle and
spread? did you take any training before going live?
[09:59:07 05/01/09] Maurizio77 : morning all - happy new year
[09:59:13 05/01/09] blue : hi im from pak
[10:00:13 05/01/09] blue : Stalion unfortunately im not trained and thts why im so tense
[10:11:47 05/01/09] realjimmy : such a good day!!! you guys win??
[10:13:13 05/01/09] Learning_pips : no jimmy..missed it
[10:17:03 05/01/09] Stalion : blue, in trading, you have to be trained for you are going
against professionals that have been in the game for years and know what they are
doing...its like a novice trying to play in the Champions League..no chance of winning if
you are not aware of the rules of d game
[10:29:49 05/01/09] Stalion : also using different free signals from different sources on ur
live account is only asking to get blown out on margin call...no accountability or
committment from both sides..
[10:34:59 05/01/09] Maurizio77 : reckon we'll be seeing a breakout on eur/jpy soon
[10:40:46 05/01/09] Stalion : for euroyen, we put a sell stop @ 127.49...1st target @
127.25..2nd target @ 127.08...50 pip sl
[10:45:37 05/01/09] effendy40 : hi stalion
[10:49:50 05/01/09] blue : Stalion wht wil be its buying stop
[10:51:22 05/01/09] Stalion : well, for now, no buying stop since we are looking for eurjpy
to go down in the short term...dats why the sell stop
[10:54:14 05/01/09] Learning_pips : stal the eurjpy entry is 1-2-3 if i am not worng?
[10:57:27 05/01/09] Stalion : 1st target hit on eurjpy..take half profits and move stop loss
to entry
[10:58:52 05/01/09] Stalion : the 123 pattern has already been fulfilled with the high at
128.49...
[10:59:23 05/01/09] Stalion : remember different techniques as price moves
dynamically,pips..
[10:59:45 05/01/09] Stalion : 2nd target hit on eurjpy!
[11:00:19 05/01/09] Stalion : 41 pips made in less than 1 hour on a monday morning
[11:00:27 05/01/09] Learning_pips : right..sorry realised that later
[11:02:16 05/01/09] Learning_pips : i just checked, our entry point was at 60% sell window
of the previous swing..nice!
[11:04:55 05/01/09] Stalion : cool...great start to the week...and for the New Year..
[11:11:42 05/01/09] Stalion : dats all for today...tommorrow is another day...41 pips,$41
minilot,$410 standard lot on eurjpy...
Helloo fellow traders, for today Teusday 6th of January,1.15 am, we put a sell stop on GBPUSD @ 1.4635..1st target @ 1.4605..2nd target @ 1.4575..3rd target @ 1.4545...50 pips stop loss..take half profits when +20 pips ahead then shift stop loss to entry point.
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18-03-2009, 02:51 PM #28
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Originally posted by Julieviola:
[QB] I really don't much about the psychology of stock trading but one that got me is the
"having" or the noobs quest for more money. As novice in this field I try to take a lot of
advice from many sectors and other forums similar to this one but my problem is information
overload.
It's so easy for a novice to get overloaded with information that instead of making a head
way in their quest to make more money, they simply sucks and cannot function as they should.
Don't get me wrong but the original thread is something for a novice like me to really put
into consideration.
Thanks for the tip [/QB]
Hi Julie...thanks for your mail...you are right when you mentioned the ''paralysis by
analysis'' factor that disable the functions of majority of the traders due to information
overload.In pursuit of the quest for profits, most of us tend to disregard the knowledge,
patience and determination required to come out on top in any field of endeavour,instead we
only focus on money..''how much can I make daily?''...I deserve a 100 pips dropping like
clockwork each and every day''... Stay with me here,viola, there's a madness to the method
and method to the madness..Its called the LAW OF DETACHMENT...thanks once again for your
comments, julieviola
Hey forexgreenland, we have missed you at NIGERIA BEST FORUM . NBF.
Since its been a while, we thought we would send you a personal invitation to return.
Hello, forexgreenland!
We've noticed that you've not been active on ForexForums.org for quite some time now, and we
miss you!
Could we not tempt you back?
Hmmm.....no need to do that,mon amis...am back....just being occupied by lots of projects
lately...so little or no time to post as much as before...
Nice observation, dollarfinder...I concur with your findings...There's no 100% perfect
system, whether technical analysis or fundamental news analysis..What matters most is proper
RISK MANAGEMENT in trading.. How long can your equity last if your system is on a losing
streak? How far can you go when the market goes schizophrenic over a period? 5 trades? 20
trades? 50 or a 100 trades before margin call...Hot situation makes a nice one, whatchu
gonna do...call 911?That is what majority of the professional traders focus on when
trading...Even in cooking, recipes of dishes are added proportionally, instead of putting
the ingredients all at the same time.. That proportional blending eventually brings about a
nice savoury dish....yumm yumm..Anyone hungry?
Frank Says:
Hello, thank you for this Posting. I am reading this Blog very often and i like to read this
blog. I hope you writing alot in this Blog. What you have to doo is to write more in this
Blog about everything.
I know, I know, jehunter....better to be the hunter than to be the hunted,especially of
pips..lol...wud send it as soon as possible,okay...
Darn hayabusat,easy on the boobs fixation,okay...or you want to change the title of ''Sex in
the City'' to Sex in the Trading?not that healthy for clarity of mind..I must say.. Trading
mostly commences during the London Session where you have less range activity and more
stable volatility.
[10:02:58] Stalion : sell gbpusd @ 13920...1st target @ 13840...2nd target @ 13765...50 pip
sl.
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22-03-2009, 06:14 PM #29
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Helloo there Onwuka, nice to get your mail... We thank God for everything..We should also
know there are times we shouldnt ignore our personal needs in order to satisfy others
needs..A burnt out Stallion is of no good to himself or to the people..just cant give out
from an empty cup whether you see it half filled or empty..so creative silence or quiet time
is essential for each and every human being..Mind you, you dont have to be a hermit
hibernating in a cave or a monk in the Himalayas before you get the centre of balance
within.. seems your questions have been asked before, and the answer was given..most times,
I often had to go back and read through the whole thread so as to get a better perspective
of where we are coming from and where we are
going..
http://www.forexpeacearmy.com/forex-....html#post7998
http://www.forexpeacearmy.com/forex-...html#post10269
To summarize, trendlines are connected from the current resistance/support high or low to
the previous resistance/support high or low of the candlebars.
It is also connected, if using MACD,between the current peak(highs) to the previous peak or
between the current trough(lows) and previous troughs of the MACD line. When the price
trendline is ascending in an uptrend and MACD trendline is descending in a downtrend, it is
called NEGATIVE DIVERGENCE.. When price trendline is downward and MACD trendline is upward,
it means POSITIVE DIVERGENCE.
Good entries and exits are also strategies that depends mainly on risk management principles
like risk to reward ratios.Most newbie traders/sportsmen wants to know the tricks...instant
gratification without expenditure of responsibilty..Your entries might be good but whatabout
whipsaws?what if you had perfect entry but the timing of the move sucks?How much are you
prepared to risk if the ''perfect entry'' does not manifest? Those are questions we should
ask ourselves before and during trading..
Hi Natalie, to paraphrase annacoulli..
Originally Posted by annacoull
underlying markets like stocks, futures or forex contracts.CFDs can easily be traded short,
transaction speeds are usually fast, and they have low margin specifications, like 10% for
shares, 5% for share indices,5% for futures and 2% for currencies.They are also generally
open ended, as in, they have no expiration dates like options, commodities or warrants.
Another thing that makes CFDs stand out is they are available for diverse underlying markets
like the US, UK AND European shares CFDs, sector CFDs like Banks, Real Estate,Oil and Gas,
as well as forex and futures pairs.
Helloo nasir.khan...any relation with genghis or kublai khan? anyways, you can just use the
standard settings on your platform, which is usually 12,26,9.. You could still tweak the
settings and compare the changes on the MACD indicator to price above...whichever one fits
your style is okay...
Hmmm, this sounds like a counterattack from one of the feminine species,not just a welcome
party....Somebody stop me!You want to know why, mami? It is because those chats and charts
mainly represents a reflection of operations in the trading trenches..reflects trading minds
at different levels in which enlightening market themes and principles can be glimpsed and
learnt from..
At the risk of getting my eyes scratched out by our female folks, there are some
observations on the gender aspect to trading.females are less willing to take risk but more
willing to stick to their rules..Alpha male stereotypes tend to do the opposite..too much
machismo, too much ego on the line...brings about stumbling blocks to our trading life..so
if good traders are consistent at abiding to their rules and not taking unnecessary risks,
the ladies should do better in their pyschological makeup to trading. So guys, we got a lot
to learn from our womenfolk..thanks for your constructive criticism, Anne
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24-03-2009, 06:37 PM #30
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Hi khairu, the red and blue lines you see on the chart is brought about through putting up a
buy or sell order, which reflects on the ''graph''...To write out a text, just click the
''Insert'' tab above, next to ''View'' tab on your MT4 platform.. There, you can also
experiment with trendlines, shapes, arrows, fib, gann..etc...just play around with it first
and see how it translates on your chart.
So for today, Teusday, we could see a head and shoulder pattern on the GBPUSD 15 min
chart,so we are looking for a bearish move down south...wow..
Sell stop on cable @ 14614...1st target @ 14565..2nd target @ 14535..50 pips stop
loss...Take half profits when +20 pips ahead, then shift stop loss to sell entry level.
[QUOTE=Fxcool;22843] Hmmm the chart is showing breakout for short sell
Cool..Fxcool...if it breaks our triangle to the downside, we are looking at a short sell,
like you said..but if price breaches the ''HEAD''(1.4775) level of the Head and shoulder
pattern, then we might be seeing the continuation of a new uptrend..so buy stop at
14775..1st target @ 14825, 2nd target @14865..50 pip stop loss
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