Trend Trading - Page 8
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Thread: Trend Trading

  1. #71
    I rather think that if anyone had an EA that would require $10 to $5,000,000 in a month, then they may go sell some blood plasma or hock Grandma's jewelry and spend $100 inside and buy their own personal island in a couple months. I'm just an old cynic, but somehow I just can't see that occurring. Be careful traders, there is a scam lurking behind every lamp post. - G

  2. #72
    Considering the GU, here are my observations:

    Weekly: Downtrend - Weekly has little to do with trading however it does give an overall direction of the market.

    Daily: Downtrend - It's looking at a double bottom just beneath the 127 PA.. I am already set to get a counter trend trade. I may have gotten in a little early but we will see.

    4 HOUR: Downtrend - I use the 4 HOUR for placement up or down no matter of the trend. If you do a counter trend trade BE VERY CAREFUL. It can turn at a dime on you.

    1 HOUR; Flatline Downtrend - This is really for the short termers and scalpers.

    5, 1, 15, 30 MIN trends: It does not much matter. You look at these for placement on getting out or in.

    Right now my hope (laughable) is that it would go up so I can get out of some bad positions. My loss will be minimal so I can reposition around the double bottom, though it does not. So I have to bear that in mind there is actually two double bottoms: one at below 127 and another at below 126. A fibo retracement would indicate no less than a 100 pip ride. See what happens.

  3. #73
    you are catching a falling knife.
    This process might work for a little while, but is doomed to blow up your account one day - even with little places if you don't quit adding on.
    At least wait for a little bit of confirmation that the trend has gone the other way for a few days.
    Just my opinion.

  4. #74
    Quote Originally Posted by ;
    Looking at the GU, here are my observations: Weekly: Downtrend - Weekly has little to do with trading but it does give a general direction of the market. Daily: Downtrend - It is looking at a double bottom just beneath the 127 PA.. . .Right now my hope (ridiculous ) is that it would go up so I could get out of some bad rankings. My loss will be minimal so I can reposition the bottom round, even if it doesn't. So I must bear that in mind, There's actually two bottoms: you at under 127 and the other at under 126. A fibo retracement will...
    I will give a few unsolicited remarks. I agree that we shouldn't ever attempt to catch a falling knife. We think we were a genius and'll get it right place on, but in reality, the knife keeps falling further than we could remain liquid in more cases than not, so the likelihood of a catch are small. As you discovered, the tendency for daily traders is obviously down. This is supported weekly and by the H4. The H1 indicates no indications of a trend shift. It appears like the daily bottom around 127 was a bounce off a service, which we frequently get to split it. It appears like price is going back in that service with much more momentum this moment. Hope isn't a strategy my buddy. Abandon all hope. You may very well be right and I encourage you to do what you think is right. I'm just saying that from my own standpoint of always trading with this trend, no matter how expensive or painful, I would now be looking at cutting my losses and either positioning for a probable extended move downward or just seeking a way to completely extricate myself from this commerce no matter how painful and allow the market solve it is direction. Of course, I do not trade just like you do this I can't do anything more than tell you what I'd do in this circumstance. I wouldn't allow a little scratch turn and you know what I am talking.

    More broadly, trading as I do I have many opportunities to consider losing. Everybody wants to consider winning, and of course that is more pleasant to consider, but learning how to lose properly is the step to becoming a thriving pro trader. Generally, taking a good odds trade and cutting at the loss as brief as reasonable once the entry criteria is the price action doesn't conform to the anticipated performance that is initial is the critical element to professional losing. There are just a couple of strategies to lose and an extremely large number of ways to win, so losing wouldn't be hard if thinking about it was not so painful to master. Taking a trade that you know presents chances that are bad is a means to lose over the long haul. Another element is to never compound your losses. Averaging down is an example of the way. It is going to occasionally do the job, but it is a bad odds move and it will drain your account over time. Holding on to losing transactions long after it's clear they are currently losing in the hopes they might turn around can also be the way. Closing them as soon as it is clear they're losing is ALWAYS the right thing to do. That makes it the right thing to do whether it works in that specific situation or not, but it is going to eliminate large losses although it won't always work. It is usually best to have strong rules so that you don't ever have tough choices to make while investing as to when you are going to take a loss. So it is never my fault I have rules that my system forces me to follow along. I just need to make one decision in trading, to trace with my system or not. Then, my own system makes all the choices. though the loss is painful, you at least have the consolation that you followed your rules and that is going to make you successful over the long run. That is. The market owes me none.

    I do not mean to be critical of your own trading and I genuinely wish you all the best. If you want to take into account the art of mastering losses a few more, I'm always here. - G

  5. #75
    Taigen, 1 thing I understand from this business is. Not exactly what you expect. You put ma lines stating its at a downward trajectory. I might try to find chance to sell if I were you. Whether I'm right or not, doesnt matter. As long as I keep trading small with regard to my equity, then every little thing will be alright. - thats exactly what Bob Marley said in one of his tunes

  6. #76
    Thank you for your worries and I am quite versed in the art of shedding. I did a counter tendency which got me a few pips. You win little and you win big. This time I banked a few pips ~20 or so. It could go up according to this fibo but because I feel that the bottom will be analyzed I decided to take my winnings. It's still a counter tendency. I do them because I find these very profitable.

    Something that the market does and is strong as concrete, and that is, it goes up and then it moves down. Counter tendencies are predictable in the sense that buys and sells exhaust themselves and usually go to a consolidation. After that, based on patterns, I get ready to cease out and go one way or another. Once I am at the green, then I walk away and usually put in a zero stop. I get antsy when I profit over 200 pips and usually put at a take profit position and a profit reduction position and finally narrow the interval.

    It might sound spastic to you personally but it works for me more often than not.

    I've two Trade Explorer accounts and that I leave nothing confidential. What you see is exactly what you get. You see the dumb ones in addition to my smart transactions. I started with $2500 and got to $4400 but did a few dumb moves and I'm where I am. The other account, I believe I started with $3oo and am at $513. I know these are infant accounts. I consider a infant account anything. I am hoping to break through one day like you men. We are going to see.

    I appreciate you concern.

  7. #77
    Quote Originally Posted by ;
    Thanks for your concerns and I am quite versed in the art of losing. I did a tendency which got me a few pips. You win little and you win big. This time I banked a few pips ~20 or so. I chose to take my winnings off the table because I feel the double bottom will be tested although it might go up based on this fibo. It's still a tendency. I do them because I find these quite profitable...
    Hey Taigen, glad you were able to grab some pips from that commerce. I've never been able to get the time right on counter trend trades, but I hear a few do on these. The only thing which I've found that works for me is so I guess each, follow the tendency, until it stinks must find their own path. Best success. - G

  8. #78
    Much like people, as individuals strive to look for balance in our own lives, so to does everything else from the weather to population growths and rust into all markets. There's a perpetual attempting to look for equilibrium. The forex market is no gap and we see that in the price action. In the event the market reflects a trend on a currency pair then we would earn money by shorting--right? A big fat wrong! If tendencies were a guarantee of making money, everyone would be a millionaire. However, it doesn't work that way. The price action is striving for equilibrium.

    If Boeing makes a multiple airplane sale, it doesn't matter what trend the currency pair is in, it will decide on a time frame to start buying gobs of currency. Of course this will be done within a period of time but it will influence the equilibrium in that the demand for that currency is not there. I knew a man who worked in sales for Boeing and the currencies had to coincide with this sale's worth. In other words it is complicated and simply because something is trending one way doesn't mean it can't go against it. That is why I often, not necessarily, counter trend trade.

    The ability level is knowing when the alteration is a hiccup or a retrace.

    Below is GU chart with about a 1 year interval. Notice how the PA is currently threading itself round the 200 SMA. It's in a state of seeking equilibrium. That is the reason why many traders will forecast that there has to be a turnaround depending on how much it strays from the 200 SMA.

  9. #79
    Trading if you've got a directional bias, while it's a full size trend or not, is of course good (if) you're able to reliably ascertain fad prejudice for at least 1 pair, each and very day for intraday trading. If you want to be right every day intraday you have to come up with a strategy that's compatible with and fashion since you basically said, who knows if it's counter-trend since it may actually turn into a trend in that direction. Because you said, getting is something. I'm also seeing the advantage of not utilizing a takeprofit (and of course no stoploss either) and only letting those transactions operate and then shutting the basket around 18:00 GMT 3. You (can) faithfully recognize a trend but the issue is, those signals are far and few in between. Who wants to wait for in between before trading? That style of trading would be torture.

  10. #80
    Quote Originally Posted by ;
    Trading when you have a directional bias, whether it's a full size trend or not, is of course great (if) you can reliably ascertain fad bias for 1 pair, every single very single day for intraday trading. If you want to be right every day intraday then you have to come up with a strategy that is compatible with both counter-trend and fashion because as you basically said, that knows if it's counter-trend since it may actually become a trend in that direction.
    Right on brother...

    I looked in the Trade Explore and you're definitely putting your money where you mouth is. Consistency is the key and you got it!

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