Jump to content

EUR/USD idea


phillo

Recommended Posts

Guest oilfxpro

There  price rejected with double top  on eur usd  target 1.1965. Re-entered short

 

I don't trade fx  like this on technical basis, technical analysis is unreliable.

Link to comment

 , no you are not missing anything, it was just another silly 'punt' against the trend with ridiculous risk. What happens is you spot a non existent pattern amongst the noise on a short-term time frame that completely ignores the long-term thrust, you draw a line that will trigger the trade and enter. Then you think about stop loss and see the prior high/low is 60 tick away so you say 'well that's trading accept it'. Ha.

 

This is not how counter trend traders work, they have a level where they expect price to reverse and as soon as price reverses at that level they enter, the stop is small, it's right there, they can practically reach down and touch it, it's usually just a few pip. If they are wrong they lose a few pip but if they are right the reward potential is huge, so they can be wrong 70% of the time and still be profitable.

 

That was not this trade, having got in at a level that seeming needed a 60 pip stop price immediately reversed against you, the bowels start to go loose, so then having put in a 60 pip stop you think err and bail out at minus 14.

 

This was actually the right thing to do after making a stupid entry, if a line was crossed to trigger a trade then if that line is crossed back over the validity of the trade is gone so just get out. So the 60 pip stop was fantasy, the proper stop was just behind the 'important' level that triggered the trade which wasn't actually important at all, not to any other trader on any time frame.

 

 

 

Link to comment
Guest oilfxpro

Situation

 

I sold it because the price action twice showed a rejection and the immediate trend line  was broken.Once again it proves technical analysis  and price action does produce profit.

 

The other reason was unfulfilled emotions, the pretenders who don't trade always claim there is no psychology involved in trading, I had unfulfilled emotions to short sell eur/usd.

 

https://community.ig.com/t5/General-Trading-Strategy/Psychology-Winning-Mindset/td-p/18650

 

On casey's advice I started using lagging indicators 

 

https://community.ig.com/t5/New-to-IG-Community/Introduce-yourself-here-and-make-your-first-Community-post/m-p/15770#M327

 

Then I should have ignored all t/a , because it works in hindsight after the event.Now you guys can all be clever about it  after the event.I know all about hindsight analysis  and hindsight education.The trading forums are full of hindsight analysts.

 

Why hindsight trading is so easy compared to real-time trading

 

http://optimusfutures.com/tradeblog/archives/problem-of-hindsight-trading/

 

http://www.trade2win.com/boards/t2w-feedback-announcements/223740-ban-all-hindsight-traders.html

 

 

 

 

Link to comment
Guest oilfxpro

Casey

 

Hindsight analysis is very easy, real traders when they see an opportunity, they just place the trade.

 

Forum ***** on trade2win forum shows hindsight results, he is very profitable with hindsight results after the trades.

 

http://www.trade2win.com/boards/trading-journals/223330-hindsight-dax-lulz.html

 

On forums you get pretenders, I am a trader on a live account.Real trading involves making decisions, I made and I lost.

 

BTW my account is up 200% this week so far  , trading the indices.

 

 

trader scammer.gif

 

Link to comment
Guest oilfxpro

The euro usd is bullish based on latest price action

 

I have shorted the dax in place of trading eur us

 

It has made 2 very bullish up bars , so it is a buy until it breaks 11900

 

euro pa.jpgeuro pa2.jpg

Link to comment

Archived

This topic is now archived and is closed to further replies.

  • General Statistics

    • Total Topics
      22,988
    • Total Posts
      95,311
    • Total Members
      43,596
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    Mamzy
    Joined 23/09/23 05:19
  • Posts

    • Just now, according to Glassnode data, the number of addresses holding more than 100 BTC has reached a four-month low, currently standing at 15,955.
    • Bitcoin and other major crypto experienced a dip in value on Thursday, erasing gains made earlier in the week. The decline came after the Federal Reserve signaled that interest rates would remain high for an extended period, with Bitcoin retreating 2.3% to $26.5K. Despite the bearish pressure,  the founder and CEO of Bitcoin joint mining company Xive,  Didar stated that the stagnant rate increase is positive for Bitcoin. He suggested that this could reduce the attractiveness of mainstream financial assets to institutional investors in the long term, potentially driving a new rally in Bitcoin's price. Major altcoins and exchange tokens also struggled on Thursday, with ETH changing hands at $1,585, down about 2.6% from Wednesday. Other altcoins such as BNB and BGB also experienced losses. Despite these challenges, some analysts believe that Bitcoin is likely to remain within its recent range between $25,000 and $30,000. Riyad from digital asset data platform Kaiko, noted that the market needs a catalyst to mount any serious rally.  What are your thoughts? 
    • Traditional banking systems served as the gatekeepers of financial services for long, dictating how people access loans, save, and invest in opportunities. Typically controlled by a centralized system with a single authority such as a bank or government in total charge, this centralization is limited by high fees, restricted accessibility and slow transaction speed. Dentralized finance, DeFi, got introduced as a blockchain-based financial system that removes intermediaries or central authorities, and utilizes smart contracts instead. By eliminating intermediaries, DeFi delivers core benefits like improved accessibility into the financial system for everyone having internet connection regardless of their location. DeFi is also valued for its transparency. While traditional banking system often deny customers audits on how their assets are being managed, DeFi, through the help of blockchain allows anyone access to tracking and auditing transactions, thereby raising trust. Furthermore, DeFi also offers various financial services and products like DEX, lending and borrowing, stablecoins etc, all known to proffer varied innovative solutions, while operating 24/7 in contrast to traditional finance. DeFi isn’t flawless as issues like insecurity, lack of consumer protection etc are still prevalent; however, the growth of DeFi has been impressive; since its introduction, the total value locked in DeFi protocols has grown significantly indicating that the demand for DeFi services is fast growing. DeFi seems to be redefining financial industry by offering an alternative to traditional banking systems. With the increasing adoption, can we expect to see an overhaul in the way we access financial services?        
×
×
  • Create New...
us