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#Post#: 72--------------------------------------------------
Re: TA Forex Trading
DIR By: javalin
Date: December 29, 2016, 12:49 pm
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Something i just found
HTML http://www.darvastrader.com/
#Post#: 73--------------------------------------------------
Re: TA Forex Trading
DIR By: jwilsontrade1878
Date: December 29, 2016, 4:40 pm
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Ok Jav, I spent some time doing some longer term checking on NU
and, for what it's worth, it really looks like it's in for some
serious downside in the future.
First, we have the weekly chart, which shows a textbook perfect
Goodman wave form with a great retrace right at the 50% level.
Of course, it's gonna take a while to reach that kind of target
but it does give us an idea of where it might be headed longer
term.
In the near term daily chart, we have a really nice bearish head
and shoulders with a current neckline break and retest in
progress. The lowside target for this pattern is just below 0.65
at 0.6472, give or take a few pips. I think I'll just set a
current TP on my short position for a nice round figure at 0.65
and see what happens.
Incidentally, this also lines up with the north surge I'm
expecting to see in AUD/NZD. I have a current TP set for my long
position to trigger at 1.11.
NU Weekly chart first and then the NU daily chart...
#Post#: 74--------------------------------------------------
Re: TA Forex Trading
DIR By: jwilsontrade1878
Date: December 29, 2016, 4:42 pm
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UJ 4 Hour Chart
Finally getting some bearish action below the lower trend line
now. It could still bounce back up inside the channel
temporarily but longer term it looks good for downside.
#Post#: 75--------------------------------------------------
Re: TA Forex Trading
DIR By: javalin
Date: December 29, 2016, 6:20 pm
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Thanks for the charts Pennies
#Post#: 76--------------------------------------------------
Re: TA Forex Trading
DIR By: javalin
Date: December 29, 2016, 6:54 pm
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Pennies tks for reminding me of the Goodman approach-wish
NZD/USD would fulfill that scenario-and i'm riding bravely with
the fall
#Post#: 77--------------------------------------------------
Re: TA Forex Trading
DIR By: jwilsontrade1878
Date: December 29, 2016, 7:46 pm
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Here's the NU weekly line chart Jav...shows a clear breakdown.
#Post#: 78--------------------------------------------------
Re: TA Forex Trading
DIR By: javalin
Date: December 31, 2016, 4:30 pm
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I'm ready for it -been watching and waiting--lol getting better
about waiting--bout time THIS OLD DOG LEARNED NEW TRICKs
#Post#: 79--------------------------------------------------
Re: TA Forex Trading
DIR By: javalin
Date: December 31, 2016, 4:35 pm
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all have a SAFE New Year --me and mine are staying home with
some WELL SPIKED eggnog -too old for partying anymore lol
Let's make this our best year for gathering those PIPS
#Post#: 80--------------------------------------------------
Re: TA Forex Trading
DIR By: jwilsontrade1878
Date: December 31, 2016, 4:50 pm
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Happy New Year everybody. Stay safe and be ready to rock and
roll next week. Lets get dem pippies!
Sent from my LGL62VL using Tapatalk
#Post#: 81--------------------------------------------------
Re: TA Forex Trading
DIR By: kermit42
Date: January 1, 2017, 4:08 pm
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Happy New Year to everyone!
As some of you may remember, at the start of last year, I
decided to try an experiment to see if I could use consistent
gains and the power of compounding to turn a small amount of
money into a large amount of money in a couple years. I set a
goal of 10% a week. My intentions were golden. What was not
golden is that when I decided to do this, I had an open trade
when the market was closed. A fairly large NZD:USD long. Within
hours of posting my plan to the IHUB board, an earthquake hit
New Zealand and my account got slammed when the market opened
the next day.
Like an idiot, I tried to double down and get it back quickly.
Instead of compounding my gains, I compounded my losses. Now I’m
ready to try this experiment again.
My biggest problems trading are psychological.
1)
I have many more winning trades than losing, in dollar terms my
losses are often greater than my gains.
2)
to that I over-weight the ones that tell me what I want to hear.
3)
trade $1,000 the same way I trade $100—so success at one level
can turn to failure at another.
In an effort to bring more discipline to my trading, I will take
this approach:
1)
Just use a few of my favorite lines and indicators.
2)
with a particular pair, stick with that pair until the luck runs
out.
3)
4)
up has failed. Set stop-losses and stick to them.
5)
days.
6)
market close. Exit the trade (generally shortly after lunch
Friday). If trading is normal, I will get a chance to reenter at
the same spot or better. If news drops, I may miss a big gap in
my favor, but anticipating news is not trading, it’s gambling.
Last time I set 10% a week as a goal. That’s too aggressive.
This time I’m scaling back to 5%, which can be achieved
averaging 15-20 pips a day.
The account I will do this with has $60.00 in it. At 5% per
week, that $60 will grow into $758 in one year. Ok, still not a
lot, but that’s a factor of over 12. At 2 years, $8,700. And
that $60, increasing 5% each week is, after 4 years,
$1,261,154.40.
Only FOREX makes returns like that possible for the average
person. You don’t need insider tips, you don’t need luck, you
don’t even need a lot of knowledge. You just need ironclad
discipline.
In a separate post I will discuss my first trade.
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