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Jalarupa
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Postby Jalarupa » Mon Nov 08, 2010 8:46 am

adaseb wrote:Another thing to consider is this.

In trading there are endless amount of opportunities to trade however only a limited few are worth taking.

For example. I have about 3 or 4 opportunities every month where I get REALLY aggressive on my positions. These type of trades are ultra rare however have a fair winning percentage and unbelievable 1 in 15 risk/reward.

Daily there are more opportunities however sometimes they take hours to appear. And its very important to stare at the charts constantly because there were a few times where I was taking a s**t and an opportunity popped up that I missed. I consider that a loss in my books (unless the missed trade was a loser). Why? because if I did take the trade and my next trade was a loss, I should be at break even, however after missing that winner, I am at a loss. Make sense?

Too many new traders, just can't wait to trade and somehow manage to find a trade every minute. Many new traders just want to turn on the computer, find a trade immediately and take a profit of 20 pips immediately and call it a day, it doesn't work like it.

There are many many good opportunities in the day, but you just have to wait for them, and that's where patience plays an important role in trading.

If you been waiting all day and nothing comes up, what do you do? Trade anyways or keep waiting? If your the latter, you will succeed in trading if your the former you will join the endless list of unprofitable traders.

That's why if you have a day job and a busy lifestyle and are available to the markets during certain hours, you're at a disadvantage and are better off trading the daily/weekly charts. Because your emotions are going to make you jump into trades that you shouldn't be in.

Hope this makes sense.


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Postby athan00 » Mon Nov 08, 2010 10:32 am

MightyOne wrote:It is easier to start at the yearly chart when teaching new people.

I always start (when talking to someone in person) by saying something like...

Price will move a good thousand pips from the yearly open price and even further from an extreme. Where will you be when price moves a thousand pips?

If you can figure out how to get from one end to the other on a long term chart then the short term charts will be a piece of cake.


By saying "figure out" don't you actually brake some of the basic rule of the TRO the one that says that "you can't predict the market"?

To be honest I m so confused since what I ve learned so far comes in conflict with the theory of kreslik. At least with what I ve read in the ebook (I think the ebook is just part of the NLA). I m mostly refer to technical analysis that I use to trade with and where I was trying all these years to learn as more as I could.

athan00
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Postby athan00 » Mon Nov 08, 2010 10:47 am

adaseb wrote:Another thing to consider is this.

In trading there are endless amount of opportunities to trade however only a limited few are worth taking.

For example. I have about 3 or 4 opportunities every month where I get REALLY aggressive on my positions. These type of trades are ultra rare however have a fair winning percentage and unbelievable 1 in 15 risk/reward.

Daily there are more opportunities however sometimes they take hours to appear. And its very important to stare at the charts constantly because there were a few times where I was taking a s**t and an opportunity popped up that I missed. I consider that a loss in my books (unless the missed trade was a loser). Why? because if I did take the trade and my next trade was a loss, I should be at break even, however after missing that winner, I am at a loss. Make sense?

Too many new traders, just can't wait to trade and somehow manage to find a trade every minute. Many new traders just want to turn on the computer, find a trade immediately and take a profit of 20 pips immediately and call it a day, it doesn't work like it.

There are many many good opportunities in the day, but you just have to wait for them, and that's where patience plays an important role in trading.

If you been waiting all day and nothing comes up, what do you do? Trade anyways or keep waiting? If your the latter, you will succeed in trading if your the former you will join the endless list of unprofitable traders.

That's why if you have a day job and a busy lifestyle and are available to the markets during certain hours, you're at a disadvantage and are better off trading the daily/weekly charts. Because your emotions are going to make you jump into trades that you shouldn't be in.

Hope this makes sense.


Ok thanks for the advise. Although its quite discouraging. I mean I don't have 16 hours daily and even I did I cant just stand infront of 1-2-3 TFTs watching charts. I could do that for up to 6h daily I suppose or even a bit more especially i f i was making money. But no more.

Thats why for a moon I was trying to study scalping. By saying scalping I mean 1tic charts and 5 tic charts.

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Postby forexjake80 » Mon Nov 08, 2010 12:47 pm

MO... you said a while back, there is something you could not talk about, since it would predict price movement "accurately".

Would you mind to share how accurate "accurately" is? So for example, can you tell at what day, hour, or minute a movement will start/end?

And would that prediction be possible at anytime, or just in certain situations? Like, just out of the extremes, is price gonna reverse or continue, or is that prediction also possible if price did not move stronly for a while?

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Postby adaseb » Mon Nov 08, 2010 1:45 pm

athan00 wrote:
MightyOne wrote:It is easier to start at the yearly chart when teaching new people.

I always start (when talking to someone in person) by saying something like...

Price will move a good thousand pips from the yearly open price and even further from an extreme. Where will you be when price moves a thousand pips?

If you can figure out how to get from one end to the other on a long term chart then the short term charts will be a piece of cake.


By saying "figure out" don't you actually brake some of the basic rule of the TRO the one that says that "you can't predict the market"?

To be honest I m so confused since what I ve learned so far comes in conflict with the theory of kreslik. At least with what I ve read in the ebook (I think the ebook is just part of the NLA). I m mostly refer to technical analysis that I use to trade with and where I was trying all these years to learn as more as I could.


When you are trading you should not try to predict what the market might do but react to what the market is doing.

Say there is a breakout, you predict price to move higher however after it breaks out by 1 pip there is massive selling. What is your reaction?

If you keep trying to predict what the market is doing you'll end up like tons the of Econ and Finanace majors who all ended up getting margined called because their "prediction" was incorrect and instead of admitting they were wrong they stayed in the trade.

See what happens whenever Apple Inc releases earnings. Everyone predicted their earnings would beat expectations but what did the market do instead?

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Postby adaseb » Mon Nov 08, 2010 1:54 pm

athan00 wrote:
adaseb wrote:Another thing to consider is this.

In trading there are endless amount of opportunities to trade however only a limited few are worth taking.

For example. I have about 3 or 4 opportunities every month where I get REALLY aggressive on my positions. These type of trades are ultra rare however have a fair winning percentage and unbelievable 1 in 15 risk/reward.

Daily there are more opportunities however sometimes they take hours to appear. And its very important to stare at the charts constantly because there were a few times where I was taking a s**t and an opportunity popped up that I missed. I consider that a loss in my books (unless the missed trade was a loser). Why? because if I did take the trade and my next trade was a loss, I should be at break even, however after missing that winner, I am at a loss. Make sense?

Too many new traders, just can't wait to trade and somehow manage to find a trade every minute. Many new traders just want to turn on the computer, find a trade immediately and take a profit of 20 pips immediately and call it a day, it doesn't work like it.

There are many many good opportunities in the day, but you just have to wait for them, and that's where patience plays an important role in trading.

If you been waiting all day and nothing comes up, what do you do? Trade anyways or keep waiting? If your the latter, you will succeed in trading if your the former you will join the endless list of unprofitable traders.

That's why if you have a day job and a busy lifestyle and are available to the markets during certain hours, you're at a disadvantage and are better off trading the daily/weekly charts. Because your emotions are going to make you jump into trades that you shouldn't be in.

Hope this makes sense.


Ok thanks for the advise. Although its quite discouraging. I mean I don't have 16 hours daily and even I did I cant just stand infront of 1-2-3 TFTs watching charts. I could do that for up to 6h daily I suppose or even a bit more especially i f i was making money. But no more.

Thats why for a moon I was trying to study scalping. By saying scalping I mean 1tic charts and 5 tic charts.


Scalping is not the only way to make money. Sure it is good because it can build an account FAST. However scalping is extremely difficult, especially in currencies. The reason is because the market is so random at times.

There is plenty of money to be made trading the daily charts and those are much easier to trade.

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Postby adaseb » Mon Nov 08, 2010 1:56 pm

forexjake80 wrote:MO... you said a while back, there is something you could not talk about, since it would predict price movement "accurately".

Would you mind to share how accurate "accurately" is? So for example, can you tell at what day, hour, or minute a movement will start/end?

And would that prediction be possible at anytime, or just in certain situations? Like, just out of the extremes, is price gonna reverse or continue, or is that prediction also possible if price did not move stronly for a while?


He is not going to tell you. I wouldn't either.

Think about it this way. Suppose you had a method that had a 99% success rate and could net you thousands of pips a month, would you post it on a public forum?

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Postby forexjake80 » Mon Nov 08, 2010 2:44 pm

adaseb, do i really sound like a total noob?
It's time to kick ass and chew bubble gum. And I'm all out of gum.

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Postby adaseb » Mon Nov 08, 2010 2:52 pm

forexjake80 wrote:adaseb, do i really sound like a total noob?


I didn't say you were a noob.

MO in his prevous posts said it before, he keeps secret exactly how he enters trades.

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Postby forexjake80 » Mon Nov 08, 2010 3:02 pm

Is that so. I am a little worried right now my english might suck. I really gotta get myself a secretary btw.

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