QUOTE(brotan @ Apr 28 2016, 10:38 PM)
too some of us here.. 5% is already a miracle.. XDneed to study harder...
Forex version XVIII, Foreign Exchange Market Discussion
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Apr 28 2016, 11:16 PM
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#1
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May 4 2016, 01:16 PM
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#2
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QUOTE(OmiCatFace @ May 4 2016, 08:38 AM) we call this a complete cycle... Googled Fibo Musang and the proper name for it is called Fox Fibo? XDCongratz on da profits @Demolationz~!!! There are way too many resources out there, could you recommend the one you've learned from? Thanks. |
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May 4 2016, 03:09 PM
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QUOTE(OmiCatFace @ May 4 2016, 01:49 PM) Just search Fibo Musang in Youtube. They are posting some webminar where u can learn based on the chart he shows in the screen to understand better. good luck to u! Far easier to learn based on observation. Thanks for the info QUOTE(demolationz @ May 4 2016, 01:56 PM) Not sure where to start off with since i ditch trading with indicators. So with FIBO + Price Action Analysis (Pin Bar, engulfing, etc) Would it be suffice? |
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Sep 26 2016, 03:44 PM
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#4
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Hi There Sifus,
Just wondering do you guys have any gathering for live trading or any discussion group? I find it difficult to pin point my own mistakes, and perhaps i think i could better manage it if i could have observe on one's live trading. Its probably one of the best way for me other than seeking a mentor which is super rare thou. Thanks. |
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Sep 26 2016, 04:36 PM
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#5
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QUOTE(troller2 @ Sep 26 2016, 04:26 PM) Well, tough luck then But i thought one's strategy might not work on another person based on one's trading style, so whats the fear of having people to "steal" them strategies? |
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Sep 26 2016, 05:01 PM
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#6
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QUOTE(troller2 @ Sep 26 2016, 04:43 PM) If the strategy is mechanical you can copy 100% of the strategy. Correct me if i'm wrong... by mechanical doesn't mean it has to be 100% technical Strategy reliance right?Unless the strategy is subjective. However, subjective strategies rarely last long before becoming unprofitable. One could only copy another's trading rules and indicators, but when it come to price action, trendlines analysis, these can be subjective to everyone.. This post has been edited by kabyss87: Sep 26 2016, 05:02 PM |
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Sep 27 2016, 09:46 AM
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#7
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QUOTE(troller2 @ Sep 27 2016, 03:54 AM) Mechanical is 100% objective and no subjectivity. Well, come to think of it, it is quite true to a certain extend. IMO subjective judgment could be improve through trial and error in each trade and it will work well provided one had figure it out how it works. If your interpretation of price action, trendlines and so on are subjective then it is doomed to fail sooner or later because every time you execute the trades you will use your own subjective judgment. So its better to beginners to start off with a trading system heavily reliance on indicators (Objective tools) then? QUOTE(demolationz @ Sep 27 2016, 08:08 AM) LMAO, this is not school year. In this case, anyone here who are interesting to get out to have sharing session or just have a drink or two Some prefer trading alone, some people prefer in group. You need to find who are willing to sit down, having cup of tea and trade. It does not mean, you can't copy their trading style. The aim here is to be successful and gain profit together. There are actually many free trading systems out there for copy, i've tried some posted in forex factory, but somehow i could not get a consistent result despite trading within the rules. There is a gap i need to fill up and i think it was due to my poor understanding certain areas which i don't even know where to focus on... Price action? Trendline? candlestick analysis? or i'd have to make use of all of them together?? |
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Sep 28 2016, 12:37 AM
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#8
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QUOTE(lowya @ Sep 27 2016, 11:43 AM) you need: There is my main culprit, the timing! 1. timing, which means u need to know WHEN to trade and when to open trade. Some traders with many years still don't know this simple rule. 2. a real time screening, to tell u at anytime of WHICH pairS to focus. 3. from #2, you need to access your choices depending on timing and news data etc, and look at your risk profile, so at this point you start your TA FA analysis, check news etc and set tp and sl. 4. after order get filled, you have to manage your trade depending what it happens next. 5. then after trade closed, you regroup, review and look for next trade. Repeat from #1. It would probably help if one could tell clearly the indication for reversal, continuation, ranging, trending right? If that is the case is there any effective way to improve on that aspect? Tqvm for the valuable feedback QUOTE(troller2 @ Sep 27 2016, 12:50 PM) Objective is better but I am not saying you could not make money with subjectivity (doubt its longevity). couldnt agree more.. i think i have a better idea on where to focus at for now... thanks for the insight So far I have found no method that is profitable using indicators only. You will need something extra like fundamentals, news, price action, order flow and so on. |
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