anyone else here trade in the 1min TF(time frame) ?? Just wondering

of course, for fast scalping.. i do that too.. once, i have close 53 trades in 1 day for just scalping at 1min TF..

for all major pair

H4 sell = GU ,GJ EJ,EU
D1 sell = GU ,GJ EJ,EU
W1 sell = GU ,GJ EJ,EU

for those whom sell from last week , it's better to hold sell trade ...

for those whom trade gold (physically or using gold investment account) , just sell some gramme .

for long term gold trader , better hold your buy trade , as currently gold is in bullish mode

for scalper gold trader , better sell first some of your gold , then wait for next entry

sideways market.. argh.. no big wave to surf

nah still ranging

This post has been edited by Sham903n: Jan 27 2010, 01:49 PM

I am still holding long for GU, may i know how you do the analysis?

Thanks

wave count and wisemen

Why would you be even holding anything before FOMC and Bernanke's re-election and/or possible resignation? Any bad news and the stock market tumbles, investor's fleeing to USD and good-bye GU. If you are lucky, then things go your way. Technicals versus fundamentals, technical will always lose. It does not matter how good you analysis can be, the news tonight can undo everything. I do not enter the market with "If I'm lucky... " or "I hope the market will...".

Why Technical Analysis Beats Out Fundamental Analysis http://bit.ly/6jG6VZ

You don't get what I mean. I'm not talking about long term fundamentals. I'm talking about tonight. I'm talking about fundamental announcements. Did your technical analysis show a 100 pip drop in GU yesterday due to a poor GDP in 30mins? No but the Fundamental Announcement did when it announced GDP lower than expected and the GU dropped like a rock.

So, with your mighty technical analysis, what does it show you tonight if Bernanke does not get the votes? Or what happens if he gets the vote and resigns? What happens if he gets the votes and stays on but announces possible interest rate hike in Q2? There is nothing in your technical analysis that can beat those news.

I'm rather sad that we have people trading in forex with such little understanding of the trade itself. On a day like this, the day before the FOMC, there is one thing that technicals do not show you. Technicals will not tell you NOT TO TRADE on the day before FOMC due to the lack of direction. Technicals will show you a possible trend but all trends can be changed with news.

Your current analysis shows a bearish tread. That's fine if nothing happens with tonight's FOMC. Things go on as your per analysis. However, if Bernie were to said something that the market didn't like, it's going to go against your analysis.

This post has been edited by sleepwalker: Jan 27 2010, 03:02 PM

ok, thanks

thanks bro

i will take it as an advice , as i'm also use fundamental analysis to know what is current situation that would affect on my trade later.

For example , during NFP storm and FOMC , yerp ..i will take it as a risk .

This including news from CNN,BBC or FF forum .

if GU , for instance, dropped like wat you said , it is better to put trailing stop , better safe than never .

i can't agreed you more on technical analysis fallacy but for me , 20-30% from my trading winning comes from technical analysis view.

I hold it from last week.

I can not close the trade today and reopen tomorrow, since almost everyday has news.

If everything goes as planned from the long term point of view, then it will be rather easy to forcast the fundamentals study. But however, things are not the same in the real world.

1. A politician talking non-sense, implement things, or any actions that doesnt make sense from the economic point of view can make fundamental prediction very hard.
2. A random event from real world can move the market too, things such as natural disaster, a country disaster etc.


The best easiest way is to look at real time and see how the market digest the news/politician speech, then from there u will be a clear direction even without any technical study.


Technical study is to dig what most & majority of trader think.
Fundamental study is to study what likely that these event will shift the majority trader's perception. In this case u look again into technical.

So if u have a trading plan ahead, u have to change ur goal according to the event that has happened.

ok, thanks for the advice.

"If I'm lucky... " or "I hope the market will...".

If im lucky enough to catch the boat.. and I hope the market will move like a tsunami.. hehehe

If u study technical analysis well, u would know that it is not just 'it touched sum pattern or S & R' stuff, there is a story behind every formations, why it hold, why it breakout, all these have 'something' to do wiv trader's behaviour and psychology.

There are many ppl such as longterm value investors disagree wiv watching markets everyday, they rather watch cashflows, bt one thing they din know is that when everything comes together in the pieces the market provides, it is a story to tell. But of coz there is no 100%, coz humans are emotional, always hv flaws, we can only have high probability of sumthing to occur, not 'sure thing'.

Actually playing wiv technical analysis(wiv gud money management) is to earn profit by probability, which means earn, lose, earn lose, lose, mostly lose. But when we lose we lose small, when we win, we win alot coz of the reward we were right.

So we us traders is not sumthing very unique in terms of skill, we were all jz playing wiv probability.

If want to sum up, Techies are more using a 'safe haven' to trade, coz they can look through their trade wiv minimum lost. fundies need to be sure they are right. If not will hv to bear the slightly bigger loses. So my suggestion is traders shud have both skill in order to get the more big picture of the markets.

Sleepwalker, sum hedgefund managers only use Technical Analysis to trade thou, look at this video:(bt of coz u guys need to judge by urself if he is a pure techie)

http://www.youtube.com/watch?v=ZYDdiGFI9yQ

Never predict the market..........

i'm always use this quote everytime i do my TA

Trade What You See, Not What You BELIEVE

I believe that both fundamental or technical trading got their own way to trade. For technical trading, it doesn't mean that they'll get losing in a volatile news time but they'll know how to protect or minimize their risk when at that time.

One simple question. How many of us here are actually fund managers? If it works for them it does not mean it works for us. Most if not all traders here are considered short term aka holding orders less than a month. Medium and long term players hold their orders for 3-6 months.

Watching the market everyday is the only way to learn and the only way to trade. 95% of the people who lose in this market is because they treat it like a game. They treat it like an investment where you put your money in and forget about it. No, if they want that they should go invest in mutual funds. This is a trading business where you are going against your broker. He wants your money. You want his. It's not fair game as the broker has spreads on his side. Anybody that does not put this as 2nd priority in life (1st being either your own business or work), will not make it as a trader. You don't put a half hearted effort into something you want to succeed. That is why this is called trading.

This post has been edited by sleepwalker: Jan 28 2010, 09:06 AM