Ratman's beginner's set up and analysis

This is a discussion on Ratman's beginner's set up and analysis within the First Steps forums, part of the Reception category; Originally Posted by elitejets Graeme, You must look at a higher TF for your set-ups if you hold them for ...

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Old Mar 18, 2009, 10:02pm   #25
 
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Originally Posted by elitejets View Post
Graeme,
You must look at a higher TF for your set-ups if you hold them for that long, right? The 3min is just your trigger?
Nicola
Not quite I look at a 3min chart for my setups, but I use 15m up to daily charts to judge which setups I should be looking for. Financial markets are wheels within wheels regardless of which timeframe you use as a trigger.
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Old Mar 18, 2009, 10:18pm   #26
 
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Originally Posted by Aaronmalins View Post
Im learning candles now... I've barred myself from lines till I can read candles.
Isn't it the other way round? Knowing SR levels first and then read PA at these levels with candles etc.
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Old Mar 18, 2009, 10:34pm   #27
 
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Granted on the lower TFs guys - it really is what suits the trader. You need to match your personality to a TF I think. It's no good trading weekly TFs if you know you are hyperactive and lack patience. Likewise, if you know you take a long time to make decisions, you like to evaluate all your purchases etc then I'd say the 5m TF is not for you!!
Like I said, and you all rightly did; you need to find what's right for you.
If you are starting out I'd suggest giving your decision making process a little more time and at least start on 1hr and no lower??
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Old Mar 19, 2009, 11:40pm   #28
 
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I think maybe that you should go off and do your own homework Aaron. Not because I'm being a cnut but I do agree with new trader. Random people posting graphs with lines all over them isn't gonna help you out. If you've only been trading a few weeks you aren't gonna have the anti bollox filter and trust me there is some real smelly stuff on here.

Also trading is pretty personal what works for some, 99% of the time doesn't work for others.
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Old Mar 20, 2009, 4:14am   #29
 
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Typical, all the old school members ganging up on the newbie. Aaron here is a tip for you - read some books, study LOTS of charts, and just use this site for making jokes, reading jokes, and taking the p1ss. Good luck with your trading.

Sam.
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Old Mar 20, 2009, 11:03am   #30
 
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Typical, all the old school members ganging up on the newbie. Aaron here is a tip for you - read some books, study LOTS of charts, and just use this site for making jokes, reading jokes, and taking the p1ss. Good luck with your trading.

Sam.

If you read 2 books to get started make sure they are:

Trading in the Zone - Mark Douglas
Come into my Trading Room - By Dr Elder

But remember - sometimes the less you know (or think you know) the more profitable you can become.

Take a look at Strat's thread over on ForexFactory. Just learn about PA, SR levels, Fibs and TLs. It's all you need to trade - don't fall into the trap of trying all the indicators, systems etc - RAW PA is where trading is at in my view. Learn that first and all the other doors can open in slow time - you'll probably learn that you don't need them!!
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Old Mar 20, 2009, 3:52pm   #31
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Eur/usd

Technically Fundamental started this thread any ideas guys
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Old Mar 20, 2009, 4:11pm   #32
 
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Originally Posted by Aaronmalins View Post
any ideas guys
We are sitting on a SR line here at 1.3530 ish and it needs to break.
I would draw some more SR lines on my chart and as it breaks down through each one trade it and then wait for price action to see where we go next.
Getting the SR lines / areas for the time frame you are trading and the above up helps me.
Remember everyone trades differently and this is just how I see it.
Nicola
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