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cizagui
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Postby cizagui » Fri Dec 04, 2009 2:37 pm

You do not trade in front of major news. At 8:30 am EST there was one of the news biggies, the Unemployment report from the US and before that there was the Canadian Unemployment report. The US report is a major mover of markets.

As a rule always exit your trades before any major news, unless you are an expert on trading the news.

Here is a source of important news and their meaning:

http://www.forexfactory.com/calendar.php

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cizagui
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Postby cizagui » Fri Dec 04, 2009 2:49 pm

Lukx:
One more item: The CCI was forewarning that the trend down will continue as the color reverted to black. The blue bar was just a blip. In a 20R chart the color change is significant and if it does not revert to blue after 2 black bars I would exit at break even or tighten the stop.

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lukx
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Postby lukx » Fri Dec 04, 2009 3:50 pm

Thanks cizagui. I will be more careful in future when close to news.

rrobin
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Postby rrobin » Fri Dec 04, 2009 3:51 pm

I believe Chappy trades GBPUSD not EURUSD.

Try a test that way.

kcbnyc
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Trade Entry

Postby kcbnyc » Sat Dec 05, 2009 2:27 am

lukx wrote:loss:

and again I lost all profit. More loosing trades than winning ones.

Image


Lukx, I think you aren't getting the right entry. If you were going long, shouldn't you have waited until the bars breached the bottom of the channel and then enter when the CCI goes blue?

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lukx
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Re: Trade Entry

Postby lukx » Sat Dec 05, 2009 6:53 am

kcbnyc wrote:
lukx wrote:loss:

and again I lost all profit. More loosing trades than winning ones.

Image


Lukx, I think you aren't getting the right entry. If you were going long, shouldn't you have waited until the bars breached the bottom of the channel and then enter when the CCI goes blue?


Well I did enter when bars were far away under lower channel. But when price dropped quickly the channel moved, and when I took screen shot it was already in different position.

kcbnyc
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Postby kcbnyc » Sat Dec 05, 2009 7:19 am

Oh, I gotcha. chappy said it best about news. That's one event that will change the rules. Well, I think we have something good in this thread. We should figure something out.

dchappy
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Postby dchappy » Sat Dec 05, 2009 12:54 pm

lukx wrote:loss:

and again I lost all profit. More loosing trades than winning ones.

Image



Napolean Hill : " Mr. Carnegie , how did you amass such a vast fortune ?"

Andrew Carnegie : " By making the right decisions "

Hill : " I see , but how did you come to the right decisions ? "

Carnegie : " By gaining experience "

Hill : " I see , but how did you gain such experience ? "

Carnegie : " By making the wrong decisions "


Learning is painful , hang tuff .... it will be worth it .....Chap

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lukx
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Postby lukx » Sat Dec 05, 2009 2:00 pm

dchappy, no worries :) I redesigned myself totally regarding forex.
I just stick to your system and use it every day. Something switched in my head and I don't care anymore if I'm loosing, I just keep on going forward through whatever storm is happening.

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monolisa
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Postby monolisa » Sat Dec 05, 2009 2:59 pm

Hi to everyone!

Haven't been posting lately. I am using a modified system based on volume, price and time, and no indicators :)

Thanks dchappy. Without you I wouldn't have progressed to where I am now.

Enjoy and talk to you all soon one day.

Lis
"Know your enemy and know yourself, find naught in fear for 100 battles. Know yourself but not your enemy, find level of loss and victory. Know neither your enemy or yourself, wallow in defeat every time." - Sun Tzu

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