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EURUSD 6E Euro
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EURUSD 6E Euro

  #1011 (permalink)
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Deucalion View Post
I would suggest the 3PDH that has long been in the forming looks complete at 12975, where it would go next is the next item to wait for (the usd would likely find resitance at 80.5ish, will the 6e turn up appropriately?

Do you guys care about trading, or just get your jollies analyzing the market all day? What good is all this blah, blah, blah, continual analysis, if no one shows how to act on the analysis, where they pulled the trigger, or even where they would hypothetically pull the trigger, and where they bailed or would have hypothetically bailed etc.? I'm beginning to think you guys just like to hear yourselves talk, rather then actually test your theories. Most of the posts here are basically akin to "Round and round it goes, where it goes next, nobody knows!".

Nothing personal Deucalion, this is a general rant, to try and start a fire under all of us collectively to put some teeth behind all the analysis.


Last edited by monpere; February 15th, 2012 at 04:05 PM.
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  #1012 (permalink)
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monpere View Post
Do you guys care about trading, or just get your jollies analyzing the market all day? What good is all this blah, blah, blah, continual analysis, if no one shows how to act on the analysis, where they pulled the trigger, or even where they would hypothetically pull the trigger, and where they bailed or would have hypothetically bailed etc.? I'm beginning to think you guys just like to hear yourselves talk, rather then actually test your theories. Most of the posts here are basically akin to "Round and round it goes, where it goes next, nobody knows!".

Nothing personal Deucalion, this is a general rant, to try and start a fire under all of us collectively to put some teeth behind all the analysis.

Just glancing and saw this, @monpere I tried goin on main chat room and trading with live calls, some people did join in, and asked why I made my call and so on. I even pulled a few regular traders out who said their methods were solid and they would shout out there calls bc they werent scared. I actually enjoyed that, but we all went away from it IDK why. Maybe easier to trade in the dark. I do know of 10 traders that want to trade live calls but the environment isn't right now. Maybe in the future...Bc we all like to continue to learn advance and win, right?

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  #1013 (permalink)
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monpere View Post
Do you guys care about trading, or just get your jollies analyzing the market all day?
.
.
.
Most of the posts here are basically akin to "Round and round it goes, where it goes next, nobody knows!".

I disagree with your post.

I can't speak for others, but analysis is part of my trading. I analyze different scenarios and then make decisions based on my trading experience and trading plan. A good deal (majority) of time spent "trading" is actually spent doing nothing, waiting for the market to come to you, so I think it is normal for posts to talk about what is coming as traders wait for certain conditions.

I do agree with one thing you said, no one knows what the market will do next. We participate based on our own beliefs.

I also think it is important to remember that some people in this thread may be trading dozens of times daily, scalping for mere 2-3 ticks, while others trade only once or twice per day, or less, going for much more. To each his own, and while one trader has strong reasons to do it his way, it doesn't mean it is right or wrong. That said, it is not fair to impose your beliefs on others with regards to how someone is supposed to trade. When it comes to methodology, there is very little right or wrong, black or white, in trading.

We can all usually agree on basic risk principles, but few will agree on methodology or on what the market will do next. And thus, the market is born.

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  #1014 (permalink)
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Big Mike View Post
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What might it do next?

A great deal of support at the 3025-50 area. If we come down and find support, it seems extremely likely we will bounce a bit and come back up into this consolidation trading range we've been in for almost 3 weeks (3000 to 3300).

However, if sellers really pick up momentum and we break 3000, I think it could cause an accelerated move down to 2700.

Based on the news (which I try to ignore as much as I can), I would say this "holding pattern" (trading range) is the most likely scenario for the time being.

Edit: Oops should be "HL or LL depending on context" on that first one, type-o.

Mike

If I feel support has been found at this area, I will long based on the trading range established over the last several days.

If I feel support has broken, then like I said above, I think a run down to 2700 (or lower) is likely, and I will be short once I feel the breakdown has not been rejected.

Mike

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  #1015 (permalink)
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monpere View Post
Do you guys care about trading, or just get your jollies analyzing the market all day? What good is all this blah, blah, blah, continual analysis, if no one shows how to act on the analysis, where they pulled the trigger, or even where they would hypothetically pull the trigger, and where they bailed or would have hypothetically bailed etc.? I'm beginning to think you guys just like to hear yourselves talk, rather then actually test your theories. Most of the posts here are basically akin to "Round and round it goes, where it goes next, nobody knows!".

Nothing personal Deucalion, this is a general rant, to try and start a fire under all of us collectively to put some teeth behind all the analysis.

Well you singled me out, so I will try and answer in the spirit on this forum. Please look back in this thread...I have been posting charts that I wanted to see 13300 for a while...for weeks now.....

So there is follow up on that regard, same thing with GaryD's thread where I have followed up charts with ideas (and as a trader you want to see opposing ideas). You are right, there is no way to tell wheat from chaff, no way to say who is trading what...my trading plan calls for trading something at a certain levels and bailing or changing my position at an instant. To keep abreast of every single trading decision is not just hard but very taxing IMO.

The nuances of a discretionary trade approach, the thinking and the execution...you asked if we all put that down here for absorption. Think about that for a second, the how to, would be followed by a why, and then more why's..and then some more....

Besides, by calling someone out - you may get a provoked reaction from some....and a backlash from others. The spirit of this thread (I assume, whether correct or incorrect) maybe to entertain complimentary ideas and more importantly, opposing ones.......

I agree, more detail is proabaly better, but this is a fine line....easily blurred. I see Big Mike was thinking short a few days ago on 6E when I was thinking long exhaustion and then short, same with me and GaryD....that is where the value lies.....because immediately I was thinking..what am I missing that these guys are not? It's too dangerous for me to risk my capital on an alien thought process, even if I am wrong, I have me to blame. And if I am right, then myself to pat. Bottom line remains, if you expect someone to layout their trading plan for you to read (for whatever reason), you maybe in for a long wait.

And since I stopped active daytrading (and starting to swing trade), I do have a lot more time twiddling thumbs...but I will attempt to post less to get "my jollies"....

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  #1016 (permalink)
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Big Mike View Post
I disagree with your post.

I can't speak for others, but analysis is part of my trading. I analyze different scenarios and then make decisions based on my trading experience and trading plan. A good deal (majority) of time spent "trading" is actually spent doing nothing, waiting for the market to come to you, so I think it is normal for posts to talk about what is coming as traders wait for certain conditions.

I do agree with one thing you said, no one knows what the market will do next. We participate based on our own beliefs.

I also think it is important to remember that some people in this thread may be trading dozens of times daily, scalping for mere 2-3 ticks, while others trade only once or twice per day, or less, going for much more. To each his own, and while one trader has strong reasons to do it his way, it doesn't mean it is right or wrong. That said, it is not fair to impose your beliefs on others with regards to how someone is supposed to trade. When it comes to methodology, there is very little right or wrong, black or white, in trading.

We can all usually agree on basic risk principles, but few will agree on methodology or on what the market will do next. And thus, the market is born.

Mike

Not imposing my beliefs on anyone. What I'm saying is that most of the posts seem to just be stating the obvious. I know all the trading jargon, but a newbie who wants to learn sees someone write there is ascending triangle forming, and doesn't state what they do with ascending triangles, is just stating the obvious. If someone makes a speculation, and the market sets up that way, then follow up, and finish the trade idea, did it work, did it not. That's how anyone here will learn from each other, otherwise, it is a bunch of people putting down random ideas, that will never prove to have merit or not. No one learns from that.

Example: Trendisyourfriend posted some interesting charts, and I said cool, but how would you trade that? so he comes back, explains and shows where he would have entered, etc. That's a post people can learn from, not just saying, "Hey look, there was a double bottom at 10:00am", There's probably 50 things one could do with that, what does a double bottom mean to your trading? I trade mainly divergence, look at any of my few charts on here, they all show exactly how I would have traded every trade idea I identify (even though it is basically always the same trade idea)

But, if this thread is some place to ramble while we are bored during the trading day though, then that is something else. Maybe, I'm just missing the purpose of the thread.


Last edited by monpere; February 15th, 2012 at 05:54 PM.
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  #1017 (permalink)
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The purpose of the thread is to help traders, just like everything on the site.

Everyone has a different view and opinion of the market. Some people look at trend lines and say "who cares, old news" while others may not have realized they were there, because they are focused on such a small zoomed-in level of a chart they don't see the bigger picture.

As with most things, I suggest you read the posts if they benefit you, and ignore them if they do not. The goal is not to get you to change your mind about anything. The goal is to see how others view the market, and you can then use that information to further your own beliefs or not. You certainly don't want to suffer from analysis paralysis, but then again there are many things posted that I had not yet considered or had time to research myself, so I continually learn from what others post.

Mike

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  #1018 (permalink)
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BTW, changing the subject slightly, a lot of people really want concrete explanations and very black/white scenarios, like here is the exact price to the tick where 'xyz' will happen. I have found the market does not work this way, and people that try to only view the market in such absolutes usually have the hardest time succeeding.

I was one of them for a while. I hated it when other people talked in such abstract theories of the market, I was like "where is the part that tells me to long or short!". I don't believe there is any shortcut to help people learn this, they simply need to do it on their own time and come to their own conclusions.

Sadly, many are stuck in this forsaken loop of looking elsewhere to form their own ideas (whether it be vendors, signal provides, trading rooms, indicators, forum posts, whatever). I personally prefer to reach my own conclusions as much as possible, because that way I own them, they are mine, I have the most conviction about them because I created them, did the research, etc. They are my beliefs. But that doesn't mean I won't listen to what others say, and it doesn't mean that I don't learn from others. It is naive the think otherwise.

So sure, there are some people who post who I don't pay much attention to because I don't find value in what they post. But there are others who post where I do find value, and I read the post and usually either think "yes, plausible" or "no, I disagree", and everything in between. It rarely changes my mind about my own trade, but it does allow me to consider other viewpoints and that is never a bad thing in my opinion, not in a market where you are trading against just that -- other viewpoints.

Mike

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  #1019 (permalink)
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Big Mike View Post
If I feel support has been found at this area, I will long based on the trading range established over the last several days.

If I feel support has broken, then like I said above, I think a run down to 2700 (or lower) is likely, and I will be short once I feel the breakdown has not been rejected.

Mike

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If support holds, we move back into the trading range towards 3300.

If support breaks, we need a retest of support to prove it is now resistance, then price moves to 2700.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
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  #1020 (permalink)
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Big Mike View Post
Chart to illustrate my beliefs:

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If support holds, we move back into the trading range towards 3300.

If support breaks, we need a retest of support to prove it is now resistance, then price moves to 2700.

Mike

Exactly my point. Stating what to me is the obvious, maybe not to others, granted. But, regardless, my question would be, if support breaks what will you do? if does not, what will you do? What will it take for you to put a trade arrow on the chart and where? Not challenging the views expressed, just asking how does this analysis transform into a trade? Of course 'None of your business' would be an acceptable answer, just as any other answer.

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