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- asdf replied Sep 1, 2009
Assuming you don't wait for a pullback, when you buy as price is moving up, you are effectively at the "top" of the market's immediate move, even if only for an instant. Assuming you don't wait for a popup, if you sell as price is moving down, you ...
NITRO Scalping for serious traders
- asdf replied Sep 1, 2009
If it is impossible to gauge the size of a move, then why set a 5-pip target? By setting a hard target, you are in effect gauging the size of a move. You are essentially saying that if X happens (whatever X may be), then the market will make a move ...
NITRO Scalping for serious traders
- asdf replied Sep 1, 2009
Here's the eurjpy. That solid-line channel was drawn with MT4's equidistant channel tool. Very useful. Now I don't have to eyeball the "parallelness."
NITRO Scalping for serious traders
- asdf replied Sep 1, 2009
Some say it's impossible to know if you'll get a big move or not. Can you know with certainty? Absolutely not, nothing is certain in the markets. Can you know with a high degree of probability? I think that gbpjpy chart speaks for itself. That is my ...
NITRO Scalping for serious traders
- asdf replied Sep 1, 2009
Noticed that strong V-top reversal in on your gbpjpy chart and had to see what would cause such a strong move away. Great example of a channel. Connect points 1 and 3, draw the parallel line starting at point 2, and then look for a reversal ...
NITRO Scalping for serious traders
- asdf replied Aug 31, 2009
Chris, i'm currently refining my entry setup in much the same way. i wait for the 3-block reversal in a key area such as S/R or trendline. once that third block prints going the other way, then i either place a limit order in the middle of the third ...
NITRO Variations for Open-minded Traders
- asdf replied Aug 31, 2009
Nice work. Knowing when not to trade is one of the most important skills in this game. "After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big ...
NITRO Scalping for serious traders
- asdf replied Aug 31, 2009
big picture — Here is an even bigger picture look at the eurjpy. knowing where you're at on the map can make all the difference in understanding where price might move next and how big the move may be. I asked earlier what that huge triple top ...
NITRO Variations for Open-minded Traders
- asdf replied Aug 31, 2009
There have been historically high correlations between the aussie and gold, and between the loonie and oil (including near record high correlations this year). This summer has also seen high correlations between the s&p and the euro. Are these just ...
NITRO Variations for Open-minded Traders
- asdf replied Aug 31, 2009
Please do notify the administrators. The quicker we can get the focus back on trading, the better. Nothing like being the subject of baseless allegations.
NITRO Variations for Open-minded Traders
- asdf replied Aug 30, 2009
Last piece of indicator advice. The preference would be to lose them altogether, because then it is easy to follow price and only price without distractions--which is a great way to learn for those just starting out. It is evident, though, that many ...
NITRO Variations for Open-minded Traders
- asdf replied Aug 28, 2009
studbiol, support turning to resistance and resistance turning to support is the most basic method for determining which way the market may move. if you are just learning to trade, and have not spent much time with indicators, i would highly ...
NITRO Variations for Open-minded Traders
- asdf replied Aug 28, 2009
Repeat that to yourself 50 times before you start your trading.
NITRO Variations for Open-minded TradersThe three most important characteristics of a good trader, in my opinion, are consistency, discipline, and patience. Some food for thought. How strong was that triple top and how ...
- asdf replied Aug 28, 2009
With all due respect, that first trade was against a major uptrend, meaning the probabilities were not in your favor. Unless you were certain there was major resistance on the other side of that highest block, or unless the other pairs were making ...
NITRO Variations for Open-minded Traders
- asdf replied Aug 28, 2009
Waiting for a retrace gives you a new higher high to use as a target after the you see resistance become support. Remember uptrends make higher highs, downtrends make lower lows. If you know you're in an uptrend, why set your target for anything ...
NITRO Variations for Open-minded Traders
- asdf replied Aug 28, 2009
You got most of them. Entering on the breakout ensures not missing the potential big move. What is the con? Waiting for a retrace and turning resistance into support ensures an uptrend, with the con being you may miss the move. There is however one ...
NITRO Variations for Open-minded Traders
- asdf replied Aug 28, 2009
studbiol, would you mind posting your most recent chart without any indicators, and with all the bricks a single color, whether it be green, red, white, etc., so that up bricks are the same color as down bricks. In other words, make the chart as ...
NITRO Variations for Open-minded Traders
- asdf replied Aug 28, 2009
Perfect! Important thing to consider: what are the pros vs. cons of entering right on the breakout, or waiting for a retrace to retest the previous support or resistance?
NITRO Variations for Open-minded Traders
- asdf replied Aug 28, 2009
Kristjan, The HMA may or may not have filtered some of the losers. But price action DEFINITELY would have filtered some of the losers. Let me know if you have any questions. (EDIT: DB = double bottom, LL = lower low, LH = lower high, HL = higher ...
NITRO Variations for Open-minded Traders
- asdf replied Aug 28, 2009
Support and resistance levels are definitely of utmost importance because everyone sees them. No question. But, any decent time-based trader will notice the head & shoulders formation. It may not be as obvious as it is on renko, or the time-based ...
NITRO Variations for Open-minded Traders