All struggling traders please watch this!!!!!!

[prochargedmopar]

You will never look for the same thing again when opening your charts.
NO INDICATORS REQUIRED.

MightyOne said he didn't need volume and now I believe him.


Trade what IS real.

http://transcripts.fxstreet.com/2008/11 ... -is-r.html

If you like that, here are more.

http://www.fxstreet.com/search/contribu ... bf77216d2f


Video review by PTG:

Thanks by the way for mentioning those Sam Seiden videos. They were on my list to watch, but hadn't done that yet. After watching the first one, I decided to watch them all. It is really worth every minute (for me at least) because it provides a very good insight into the institutional traders vs. the novice retail traders. One needs to understand this stuff to be able to take advantage of the institutional freight train instead of getting one in your eye

[PTG]

Yeah, very good video's. Seiden is very good at explaining stuff imho.

One thing Pro, you forgot to copy paste the most important part of my text: this

[forexbob]

Thanks !

[prochargedmopar]

Yeah, very good video's. Seiden is very good at explaining stuff imho.

One thing Pro, you forgot to copy paste the most important part of my text: this

LOL, Funny PTG

I found it interesting when he told the story about trading at the conference with a bunch of other traders.
He said that they had worked out all the levels and set up an entry point but when it came time to take the trade only 50% of the traders there actually took it. And to think, this is trading side by side with professional traders.

I can only imagine that of the remaining 50% many bailed when they saw a little draw down and yet others bailed on the trade before their first profit targets.

Hmmmmm

[PTG]

Yeah I saw that one.

It just requires you to be part of the 50% who don't bail

Another thing that was interesting was his remark about not knowing where to exit: the real problem is that you don't have your entry right (in other words, you're not really sure what you're doing). Sounds a bell ?

I'm on my 8th video right now. Getting late (2.40 am), but then again it's back to winter time so I have an extra hour
AND there's more beer left

[PTG]

Yer typical mistakes matey: (not necessarily yours )

Mistake #1: buy into resistance, i.o.w. buying into an area where there are more sellers than buyers

Mistake #2:buying after a period of buying.

The chances of being successful are low. Typical case of a pirate that shoots in his own foot

The good news is that this lousy buying opportunity is... a very good selling opportunity..

[PTG]

People that know what they're doing get paid by people who don't.

I love it when a plan comes together

(full disclosure: my plans don't always work.... )

[prochargedmopar]

Interesting for sundays.
My dad made 104 pips last sunday on gap trading.
This pic comes from friday.

http://transcripts.fxstreet.com/2009/02 ... rkets.html



Comments?

[PTG]

That's a novice gap indeed. I checked it; on MBT it appears 4 bars to the right. Also, that's the highest price (1.66725).

The professional gap at MBT is earlier in the move, but that move started later than yours. Perhaps more novice traders at FXCM that drove up the price because price appeared to go through the roof.. interesting.

[PTG]

Don't you just looooove governments. Same time as an hour earlier, did a lot of work drinking beer, watching video's and posting

For those not in the know: I'm being sarcastic here.