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

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Old Sep 11, 2016, 6:27pm   #1
Joined Mar 2015
I want to be, the very best, like no one ever was

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.
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Old Sep 11, 2016, 6:37pm   #2
Joined Jul 2008
Trading on pure technical analysis is the reason you are losing in fx.
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Old Sep 11, 2016, 6:38pm   #3
Joined Mar 2015
dgtrading started this thread we'll see.

i've analysed every single losing trade and found technical reasons behind the loss.

I know plenty of successful traders who trade technicals alone
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Old Sep 11, 2016, 6:46pm   #4
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Quote:
Originally Posted by dgtrading View Post
we'll see.

i've analysed every single losing trade and found technical reasons behind the loss.

and as you keep on losing, your list will grow of technical reasons for each loss.

I know plenty of successful traders who trade technicals alone
No you don't, otherwise you would not be here doing this experimental trading.
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Spreading the madness across this suite of forums.

Those are my principles and if you don't like them, well..... I have others.

Kin Dissers Everywhere
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Old Sep 11, 2016, 6:58pm   #5
Joined Jul 2008
Over analysing technicals is just going to to make it worse for you.
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Old Sep 11, 2016, 7:15pm   #6
Joined Mar 2015
Platinum short 2pm Friday 9th September (UK time)

dgtrading started this thread 4hr chart

nice bearish hammer candle with solid close in confluence with previous low and 10EMA

1hr chart

zooming into 1hr chart we can see the whip up followed by a large bearish engulfing candle

Daily chart

in the short term we can see the upward snap in price creating a new high in the very short term, however this high is very minor, the price action on lower time frames shows how price came down to the high (the grey level) before whipping up and the hammer bar closing below the grey level

[Uzoomed out daily chart [/U]

zooming out on the daily chart we can see a short term lower low produced.

weekly chart

yes the trend appears to be bullish, however weakness is starting to appear in the form of lengthy upper tails on the candles

RISK 30 REWARD 30

RESULT 30
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Old Sep 11, 2016, 7:16pm   #7
Joined Mar 2015
dgtrading started this thread longer term trend

zooming far out on the weekly chart we can see the overall trend is still bearish, which adds more weight to trades on the short side
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Old Sep 11, 2016, 10:21pm   #8
Joined Mar 2015
Forecast analysis week 12th-16th September

dgtrading started this thread possible AUD weakness and possible GBP strength

- we could see a sharp pop in GBP/AUD if price breaches the previous swing high, this is due to the break in the bearish trend line and inside bar formation this week, it also might be overextended in terms of the major trend and might be forming a swing low. however i'm not betting any money on this.

- we could also see a harsh drop in AUD/USD if price breaches 0.75, this is due to the long upper tails on the candles at major resistance, and price may be ready to continue the bearish trend on a zoomed out weekly chart.

additional dollar strength

- dollar strength could be present on other instruments this week, if Platinum breaks below 1040 we could see a harsh drop in price
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