http://www.forexfactory.com/showpost.php?p=2570417&postcount=16 Feb 28, 2009 no woman no cry The 5% of traders that make it have one
thing in common the ability to wait for what they want where and when
regardless of time frame.Then its the yeild curve win loss ratios ect
and %r.There is no "lower time frames" its just fractals of time.To
become one with the charts is the key, to know and remember all the
bars how they formed and remembering your trades.This takes time and
live time at that with the proper risk in relation to your system
profit and loss ratio.I dont want to make a profit,i dont want a hi %
return i want to build a boat of capital IN the markets rising and
falling on the tides of price action.i want all my account locked off
in profit IN the market and in time and i can tell you its a slow
process my base capital will be replaced by markets money and the
"lower time frames" are apart of that its all a question of
perspective..Anything less is short term speculating which is fine and
correct in range bound price action but i see this as a part of the big
picture not the picture itself.I dont think 95% of them cant be traders
i think 95% dont have the where with all to hold a course of action and
stick to a plan.1 150 pip move on a 5min pin and there Buffet but in
the end there health gives up on them.This global depession is a result
of all the bad bits coming together and maybe the "wanker bankers" of
the 80s and 90s have finally lost there role model status in our
community.Looking around though looks like greed is blinding another
generation and our desire for a get rich quick plan is as strong as
ever..... http://www.forexfactory.com/showpost.php?p=2572533&postcount=49 March 2, 2009 All in all im waiting for some nice clean daily bars then ill get to the nitty gritty but we are of one mind on this i see.With multi Intrest rate statments and N.F.P this week i feel the picture will become clearer although as i write that i think its clear already.All we need are daily as on gbp/swiss assie kiwi we got weekly and monthly levels to break cable and fiber are reaching there lows too so a nice bar there would be great.It all looks like a possible trend continuation from last summer but with a short yen twist and a sideways cad. G I love that Doc Joe story but i swear thats what ive been doing but now we have price action instead of the pit.I only use price action sup/res.Its the best way and yep you lose twice in the cycle big deal.I respect your manual charting days wow we are soooo lucky to only have to overcome our fear and greed trading demons not lose as a calculation error.I have a friend who is a maths phd and designs jet engines ect he too was confounded by the market.When i pointed out to him that i was basicaly looking for shapes and patterns he was shocked.funny great story G http://www.forexfactory.com/showpost.php?p=2574353&postcount=68 March 2, 2009 Axis bold as love still in,yep agree with your levels.Im
on a free trade so hopefully the retrace is over.My plan is to see if i
can get a bit of this trade into the next leg down.we shall see fingers
crossed but no loss whatever so its good.Lets get some more bars in out
there.G |
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Baba G |