Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders
- Thread starter wallstreet1928
- Start date
- Watchers 252
- Status
dr.blix
Senior member
- Messages
- 2,279
- Likes
- 33
Are you causing trouble again Dr. B!
who...moi? :whistling
wallstreet1928
Legendary member
- Messages
- 6,609
- Likes
- 89
haha.......
Da.DesiTrader
Well-known member
- Messages
- 472
- Likes
- 3
well, really chaps...firefox has an in-line spell checker, no excuses now.
6/10
must do better
I am at work, using M$ explorer. I call em Stos for short
dr.blix
Senior member
- Messages
- 2,279
- Likes
- 33
I am at work, using M$ explorer. I call em Stos for short
sorry lonlad, just me being silly...bit bored and that usually ends in mischief
i must get ready now, off for a weeks break in the algarve...shame i'm going to miss the first week in october, as i'd love to see if my mystic meg prediction comes tue.
can't see that it will though, as we're floating nicely above 5000 at the mo.
anyhoo...have a very good week trading fellas, i'll catch you all in weeks time.
kaisen
Established member
- Messages
- 631
- Likes
- 11
sorry lonlad, just me being silly...bit bored and that usually ends in mischief
i must get ready now, off for a weeks break in the algarve...shame i'm going to miss the first week in october, as i'd love to see if my mystic meg prediction comes tue.
can't see that it will though, as we're floating nicely above 5000 at the mo.
anyhoo...have a very good week trading fellas, i'll catch you all in weeks time.
Have a great week my friend!
Da.DesiTrader
Well-known member
- Messages
- 472
- Likes
- 3
sorry lonlad, just me being silly...bit bored and that usually ends in mischief
i must get ready now, off for a weeks break in the algarve...shame i'm going to miss the first week in october, as i'd love to see if my mystic meg prediction comes tue.
can't see that it will though, as we're floating nicely above 5000 at the mo.
anyhoo...have a very good week trading fellas, i'll catch you all in weeks time.
Have a good one mate
Geofract
Experienced member
- Messages
- 1,483
- Likes
- 112
I missed it! Dissapointing esp as I was shaken out of the same move y'day for b/e.
Yeah, dissapointing for sure! I had a 2m trigger, but the stop would have been 50 pips, so no go for me! I could have bought off the fib level, but that's probably a little too agressive!
Will have to wait for a reasonable retrace now.
Desi,
Ok, so essentially you are trying to find a reversal point for a pair - is it oversold on my MACD? If so, is there a candlestick reversal pattern? On a higher TF are the lows at a resistance level to limit the downside? All sounds very methodical and you've got a process for confirmation, so good luck with it.
Having tried this (and oh so much more) in the past, the reason it didn't work for me was that the lag with indicators meant you could never really know what price was doing at that present moment where you had to place the trade. Knowing on a higher timeframe that there is divergence and a move may be losing momentum may be useful, and I'm still looking into this, but essentially I wanted to have a decision point where I could see what price action was actually doing and take a trade that put me on the side of the trend on low and higher timeframes.
Using fibs to give those decision points on forex works for me, and knowing that price action has those two patterns (and there are only two) for successive breaks of highs and lows which then give a bias gives that process of confirmation - taking into account the preceding price, candlestick patterns etc. I know for a fact that all the time that GBPCHF or GBPJPY were on oversold territory for aaaaages I would have in the past been wary of shorting, but now I have the confidence in knowing what and when to look for.
When it doesn't work, it snot an indicator that was wrong, it is price and price only that has changed its mind - no indicators or my interpretation of indicators or patterns. And in the long term I am realising even after just this brief stint using this method that being on the side of the trend and following the patterns on price action will give the edge in the long run- it already has me @ over 80% success just on the side of making the right decision on *direction*, although of course that is only part of it!
RE: AUDUSD and news and stuff, personally I love being around during the news to get movement, but can't pretend yet to understand what to expect in every instance, although I'm swotting up on this. I just wait to see what happens, jump on board if I am convinced there is enough momentum to get me to zero risk, and let the market take me.
sorry lonlad, just me being silly...bit bored and that usually ends in mischief
i must get ready now, off for a weeks break in the algarve...shame i'm going to miss the first week in october, as i'd love to see if my mystic meg prediction comes tue.
can't see that it will though, as we're floating nicely above 5000 at the mo.
anyhoo...have a very good week trading fellas, i'll catch you all in weeks time.
Have a great time DB, I don't feel we've had many witty ripostes between us recently (that's right, ripostes, I tell you!), look forward to your return.
Ack, Data out in an hour and I won't be here to manage this... out -2
Whooooo and cable falls...still, right decision to step out.
- Status
Similar threads
