Goldmine!

This is a discussion on Goldmine! within the Trading Journals forums, part of the Reception category; The purpose of my thread is to share my analysis and trades with the forum. How I see the market ...

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Old Jun 2, 2010, 5:30am   #1
 
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Goldmine!

The purpose of my thread is to share my analysis and trades with the forum. How I see the market may help some; how you see the market may help me. We'll see how it goes. Perhaps it is a good idea to mention that I use Pitchforks (for swing and position trades) and include lagging indicators, primarily for my scalping system.

Now, for those who may not be familiar with Pitchforks, I will give a brief explanation. The Pitchfork is a trading tool (not an indicator) that was developed by Dr. Alan Andrews. It is based on Newton's Third Law...for every action, there is an equal and opposite reaction. It looks very much like a tuning fork. It is constructed using 3 alternating pivots: high-low-high or low-high-low. The center or Median Line (ML) is where the price tends to be drawn to about 80% of the time. The outer lines are where price is generally expected to lose steam.

There are many rules involved in benefiting from this wonderful tool, so please do not begin trading live with it until you understand it well enough.

Patience is the key. Wait for your set-up and entry. Pull the trigger and let the market take it from there!!!

Last edited by FX4Newbies; Jun 3, 2010 at 5:11am.
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Thanks! The following members like this post: travis , market_bull
Old Jun 2, 2010, 6:37am   #2
 
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Re: Goldmine!

FX4Newbies started this thread Eur-Usd in the middle of the red and green forks. Good place to wait though there is definitely downward pressure. Not yet making higher highs...still in the fight. T/F 1Hour.

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Originally Posted by FX4Newbies View Post
The purpose of my thread is to share my analysis and trades with the forum. How I see the market may help some; how you see the market may help me. We'll see how it goes.

Patience is the key. Wait for your set-up and entry. [B]Pull the trigger and let the market take it from there!!!
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Last edited by FX4Newbies; Jun 2, 2010 at 7:19am.
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Old Jun 2, 2010, 7:42am   #3
 
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Why the seething and waiting strategy will never get through?

1.Forex - Waiting for US GDP
2.Forex - Waiting for the Results of Greek T-Bill Auction
3.Forex Trading: Euro Moves Sideways; Traders Waiting For More News ... - [ Diese Seite übersetzen ]
4.Forex Trading Sideways Trend Strategy - Waiting for a Turn
5.Forex Pip Bot - You've been waiting for this Forex Bot All Year
6.Forex - Waiting for the Results of Greek T-Bill Auction -
7.DailyFX - Pound Looks to Risk Trends While Waiting for BoE Direction
8.Forex Pipbot – I've been waiting for this Forex Bot All Year
9.Forex Markets: Forex waiting stability
10.Waiting on a U.S. Dollar Pullback? | Forex Blog: Chartology
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Old Jun 2, 2010, 7:54am   #4
 
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Re: Why the seething and waiting strategy will never get through?

FX4Newbies started this thread Don't quite understand what you mean by "the seething and waiting strategy will never get through."

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Originally Posted by pssonice View Post
1.Forex - Waiting for US GDP
2.Forex - Waiting for the Results of Greek T-Bill Auction
3.Forex Trading: Euro Moves Sideways; Traders Waiting For More News ... - [ Diese Seite übersetzen ]
4.Forex Trading Sideways Trend Strategy - Waiting for a Turn
5.Forex Pip Bot - You've been waiting for this Forex Bot All Year
6.Forex - Waiting for the Results of Greek T-Bill Auction -
7.DailyFX - Pound Looks to Risk Trends While Waiting for BoE Direction
8.Forex Pipbot – I've been waiting for this Forex Bot All Year
9.Forex Markets: Forex waiting stability
10.Waiting on a U.S. Dollar Pullback? | Forex Blog: Chartology
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Old Jun 2, 2010, 8:12am   #5
 
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u r supressing any activity because u dont have any idea what to do

this is your strategy : "seething and waiting".
u r proposing an analysis which is leading to no decision.
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Old Jun 2, 2010, 8:17am   #6
 
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Re: Goldmine!

FX4Newbies started this thread Not sure what you use for entries and exits, but the way I use pitchforks, I prefer to enter where price is likely to be ready for a change in direction. Right now it is in the middle, which means it can go either way. I don't like flipping coins, do you?
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Old Jun 2, 2010, 8:22am   #7
 
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Don't quite understand what you mean!

my profit right now : 365 $
20100602.0728 EURUSD b.GT.12210 .... bottom
20100602.0746 EURUSD b.GT.12224 .... no top
20100602.0753 EURUSD s.LT.12224 .... top
20100602.0803 EURUSD b.GT.12208 .... bottom

" I don't like flipping coins, do you? "
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Old Jun 2, 2010, 8:36am   #8
 
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Re: Goldmine!

FX4Newbies started this thread I guess what it boils down to is your style of trading. From your journal above, seems like you are using shorter time-frames. Glad it works for you. There are times when I do using traditional indicators and shorter time-frames for a scalping system. I want to get in a trade, and let it run, so I choose to let the market show me which way it wants to go.

Re: Flipping coins... just a figure of speech meaning a gamble or toss up.

Hope that clears it up.
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Old Jun 2, 2010, 8:42am   #9
 
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"I want to get in a trade, and let it run," u r a dreamer ...

u will never get any winning trade

Take a look at the contents fo all posts of this forum :

No1 is able to call on any entry just in time.

I m the one and only who is able to call on entries "just-in-time"

u may ask, how is it possible ?

Dont sit and wait !
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Old Jun 2, 2010, 9:07am   #10
 
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Re: Goldmine!

FX4Newbies started this thread I am glad you have a system that works well for you. I am certainly not trying to call an entry just in time. Glad you are the one and only who can call on entries "just-in-time"

I'll scalp when I choose and position trade when I choose. That is the beauty of this business...diversity.
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