I want to be, the very best, like no one ever was

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Old Sep 12, 2016, 7:17am   #9
Joined Feb 2002
I wondered if this might help inform your analysis. Only watch half of it myself yet but a neat time-line and rationale for recent currency movements.

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Old Sep 12, 2016, 7:25am   #10
Joined Jan 2014
Quote:
Originally Posted by dgtrading View Post
Hello everyone.

I wrote a journal on this site over a year ago, however my trading was quite a mess and my analysis lacked follow through. Since then I have not given up and have been studying the charts every day, determined to become one of the best.

ABOUT ME

- Unemployed economics graduate
- lost £2,200 to the monster that is the market (so far)
- trade purely on technical analysis
- top down analysis from weekly down to daily, 4hr and hourly timeframes
- only 'indicator' used is 10 period EMA
- instruments traded: FOREX and major commodities (oil, gold, platinum)
- account size £500

STRATEGY

- entering breakouts/trend changes/contractions and expansions in volatility on one time frame in confluence with the time frame above.
- taking profits at 3,2 and even 1 RR

some of you might think i'm crazy for taking trades at 1:1 risk-to-reward however my studies of charts show me that these trades have extremely high success rates.

will be posting technical analysis, trade ideas, statements and general thoughts on the markets.

let the games commence.



You're going to blow up.
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Old Sep 12, 2016, 2:46pm   #11
Joined Mar 2015
dgtrading started this thread lots of AUD weakness and USD strength across the board so far today, looking to enter on retracements with confirming price action

* all cash at the moment no trades*

Last edited by dgtrading; Sep 12, 2016 at 2:54pm.
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Old Sep 12, 2016, 2:53pm   #12
Joined Mar 2015
dgtrading started this thread
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Originally Posted by tomorton View Post
I wondered if this might help inform your analysis. Only watch half of it myself yet but a neat time-line and rationale for recent currency movements.

I watched some of it, the guy just mumbles random hypotheses on the market in conjunction with his technical analysis, and some of his charts are a mess.

I prefer to keep a clear mind and listen to my own brain.

thanks for the input though
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Old Sep 12, 2016, 4:13pm   #13
Joined Mar 2015
dgtrading started this thread watching UER/GBP for a 4hr close below 0.84385 to possibly go short
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Old Sep 12, 2016, 9:54pm   #14
 
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Joined May 2015
Quote:
Originally Posted by dgtrading View Post
Hello everyone.

I wrote a journal on this site over a year ago, however my trading was quite a mess and my analysis lacked follow through. Since then I have not given up and have been studying the charts every day, determined to become one of the best.

ABOUT ME

- Unemployed economics graduate
- lost £2,200 to the monster that is the market (so far)
- trade purely on technical analysis
- top down analysis from weekly down to daily, 4hr and hourly timeframes
- only 'indicator' used is 10 period EMA
- instruments traded: FOREX and major commodities (oil, gold, platinum)
- account size £500

STRATEGY

- entering breakouts/trend changes/contractions and expansions in volatility on one time frame in confluence with the time frame above.
- taking profits at 3,2 and even 1 RR

some of you might think i'm crazy for taking trades at 1:1 risk-to-reward however my studies of charts show me that these trades have extremely high success rates.

will be posting technical analysis, trade ideas, statements and general thoughts on the markets.

let the games commence.
you are to be commended for trying..and i would say the chances of you being the very best..like no one ever was..is..very very slim..as you are doing exactly what everyone else does..so..you are going to get the same results as everyone else

tip..which i know you will not take..but here it is anyway

concentrate on 1 market that you can trade at any time..but preferably be available to trade it's key times..trade what you see happening in front of you..forget about what if this and what if that..as that is only a fool's game

if you can not make some money trading what is actually happening..then the chances of you making money trading based on what has already happened..are very very slim indeed

let's see if you prove me wrong..or prove me right?
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in order to get the crock of gold..you must first<>find the right end of the rainbow
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Old Sep 12, 2016, 10:48pm   #15
Joined Mar 2015
dgtrading started this thread
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Originally Posted by Lúidín View Post
you are to be commended for trying..and i would say the chances of you being the very best..like no one ever was..is..very very slim..as you are doing exactly what everyone else does..so..you are going to get the same results as everyone else

tip..which i know you will not take..but here it is anyway

concentrate on 1 market that you can trade at any time..but preferably be available to trade it's key times..trade what you see happening in front of you..forget about what if this and what if that..as that is only a fool's game

if you can not make some money trading what is actually happening..then the chances of you making money trading based on what has already happened..are very very slim indeed

let's see if you prove me wrong..or prove me right?
yes I appreciate your advice, I haven't taken any trades based upon my 'what if' ideas for this week and I never will, I always wait for confirmation and specific price action factors that I am looking for.

no trades today as I have become very fussy in regards to the quality of trades taken nowadays, which can't be said about my previous trading history.
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Old Sep 12, 2016, 11:46pm   #16
 
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Joined May 2015
Quote:
Originally Posted by dgtrading View Post
yes I appreciate your advice, I haven't taken any trades based upon my 'what if' ideas for this week and I never will, I always wait for confirmation and specific price action factors that I am looking for.

no trades today as I have become very fussy in regards to the quality of trades taken nowadays, which can't be said about my previous trading history.
you are welcome..keep in mind that "the perfect setup" does not exist..every trade you take will have an uncertain outcome..which is why you must only risk a certain % on each trade..risk too much on each trade and your money can disappear very quickly

that said..when the opportunities present themsleves..one must act accordingly..as lost opportunity can be just as bad..or even worse..than a losing trade

there is one thing that ties it all together..and that is called experience..some think they can bypass the experience bit and jump to the head of the class..big mistake..as it will not be too long before one discovers that they have been in the wrong class all along..it was just that they did not really understand what they were studying for..and were just going along with the rest of the class

anyway..there is no reason why you can not make money trading..all you need to do is get in and get out at the right levels..and at the right (best) times
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in order to get the crock of gold..you must first<>find the right end of the rainbow
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