"i guess the question is what is the reward, and what must one pay for the opportunity to recieve this reward?
there notion that successful retail traders exploit anamolies that constantly change is ridiculous.
i didnt want to say anything since…"
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"they say a picture is worth a thousand words. if you looked at gu monthly chart it has been in a directionless range pretty much since the world came off its rails in 08. if you look at the trade im currently in it is apparent there is , and…"
"hi cho-from your chart and my technical opinion it seems as though its in a zone of interest ( resistance ) and possibly due for a pullback. i am a person who waits for a direction to show itself and then enters on pullbacks, i…"
"a little to general, not open minded enough. even i think tip 2 is a little odd, it eludes falsely to the inability to make money trading often which is completely false. it is more difficult, and better advice might be to limit your…"
"im glad im not the only one saying something. they should provide a link to gamblers anonymous with those types of posts. my vision , and i realize its just my opinion, is for this site to be a melting pot of ideas and discussion for all…"
"@asma-what is your relationship with the author of this post beyond this site? i would be beyond belief dismayed and running for my inhaler to catch my breath if someone actually entered a trade solely on what i ve seen posted here."
"i like to post the end of trade if i posted a start to give a closure to it. the ea trade i held over the weekend did stop out after going below the lowest point of three bars. i have subsequently put in another buy order as it may be just a…"
"when you get into a trade do you usually feel you know what type of move it will be (small, intermediate etc) or do you decide as the trade starts to move along? do you always let the market take you out or do you exit at target points depending on…"
"what makes you like the 20 ema ? does the price have to close under the 20 ema or just go below it? it has gone above then below the ema about 6 times since hitting its lowest LL , why this time, maybe because its hitting your trend line? what if…"
"lol i knew you were gonna slay me on that!"
"the last line of your comment is key, and i hope people pay attention. this week i took 2 trades, one was a loss of 13 pips on uy ( it is posted on another bog ) .this trade had at one point been in profit about 60 pips ( if i recal correctly…"
"just to play the devils advocate id have to say im moving away from specific targets for profit. it is maddanning getting taken out when a pair moves against a position and you know you could have gotten out at s/r ,trend, fib, ma, or whatever…"
"very good explanation, i couldn t agree more. i like that you dont set targets, i ve struggled with this in the past but im finally getting it. i don t trade different time frames, but i certainly agree the markets are fractal in nature. i m…"
"great ideas and dialogue, really enjoyed where this dialogue went thx "
"hi indy-this is probably a better lesson on how the placement of any line on a chart , whether it be a s/r line, trend line etc, is really subjective which is why it is so important to develop your own style. with practice most line…"
"well said " some times simplicity is all we need to achieve our goals." that was a part of the message i was hoping to get out in my post as well. "
Profile Information
- About Myself
- self employed logger in western alberta
- Trading style
- technical / price action
- Current Broker
- fxcm
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Talisman's Blog
drawdown tolerance
Posted on April 17, 2013 at 1:26am 9 Comments 3 Likes
in the vein of blog posts venturing away from predictions, analysis, and trade entries, a trend i m quite pleased to see, i thought i would throw out the topic of drawdown tolerance for discussion.
it is important to understand ones draw down tolerance , and taylor a plan that does not exceed these limits.
early on in my forex adventure ( about 5 years ago ) i wanted to get my feet wet with live trading so i started trading a very simple strategy using atr. in 4 months i…
ContinuePlain Jane Vanilla Trading ( Same ol' same ol' )
Posted on April 9, 2013 at 1:12am 31 Comments 2 Likes
A number of good people mentioned gu buys around this level without giving specific stops and entries. since it falls within my criteria for a buy as well i ll take it a step further and illustrate the trade. this trade could easily ( as always ) still turn into a loss. i like to try to post them fairly quickly after entering so its obvious i m not cherry picking. lets see what happens with this very smple s/r trade…
ContinueMore plain jane vanilla trading
Posted on April 3, 2013 at 11:56pm 4 Comments 4 Likes
this post is intended for new traders who want a simple approach they can expand on and make thier as time goes on. it is not intended to to give triple digit monthly returns. just because you re not wayne gretzky doesnt mean you cant play hockey.
dont try to predict, just roll with whatever is happening. as you become comfortable with seeing the signs that a market may bounce off a level start to experiment with managing the process as it moves in your favor.
not sure where…
Continuetake your piece out of the middle
Posted on March 18, 2013 at 8:21pm 2 Comments 2 Likes
i thought i'd throw this example of trading pullbacks with the trend ( as i see it ) . once i determine something is trending i look for a pulback that is no less than 1/3 of the last move and know more than 100 percent of the last move. once it passes the 1/3 mark i start to look for a sign that it will continue on in the direction it was going. a signal can be something like a pin bar or two bars in a row closing higher ( lower ) . the target area is usually quite conservative. i usually…
ContinueComment Wall (1 comment)
- At 11:58pm on June 5, 2012,
Brian Twomey said… Hi Talisman,
What I was trying to say but didn't seem to be clear was the forecasts ability of a EUR/CAD movement from the 253 day average can be forecasted with perfect accuracy. Its always been clear but obviously trying economic times is the only aspect that can disrupt the balance. Take care and appreciate the comments, we are alright
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