Hey David how's things? Trading this trend system?
Cheers,
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Hello soso,Originally Posted by ;
I was going to post now that the pair has started moving again and there could be something worth writing. I stayed long that the 2nd time like I never got the large red per day candle to shut, or the lack of direction to get a round 2 and a half an hour, or a shift in retail FX sentiment to depart.
I made a mistake by shutting out the two lots I had built up in 1.3913 just to enter a single lot again in 1.4081. Now the market is about 1.4230 it is nevertheless a profit but not nearly what I would have made if fear had not made me bailout for a moment.
Fear mostly comes from gambling to much in my view, and from believing this transaction just has to be a winner. Sure, we all know that we'll need to have a loss sometime in this game; but there is a bias against being open to taking the loss now on this specific trade, the impression is that trade just HAS to be one of the winners, but it does not. Control the greed and the fear will go off by itself.
Anyhow I think mechnical trend trading was demoned together with the consequences of pulling from winning trades to ancient, which I did not initially plan to demone but I'm glad as I did as a record of me performing it'll be eternally on the world wide web to remind me to not do it ever again!
Well, trader sentiment has now shifted so I'm outside; if the sentiment continues to be retail traders internet long on the EUR/USD I might short the pair next week to examine trading using sentiment. Should probably be about the trading forum and not this one. Thanks to everybody for their comments and thoughts.
- David.
Hey David, I am back from my trip. I see you are still in it and I want you all the very best. I've been doing a little swing trading while off and only trade 1 or 2 times weekly. Fantastic luck on your opinion technique.
Hi Mr D,Originally Posted by ;
Hope the trip was good?
Anyways, yeah, I am thinking of taking a short EUR/USD commerce based on sentiment.
There are 3 signs I use for taking four and trades for exiting. For inputting -
1. A greater closure than has been observed in four weeks (or a decrease close than has been observed in at least four weeks for short trades).
2. A weekly candle with a body so large that movements of this size are typically only seen many times per year, that's a sign that the'big money' is flowing in the direction of this candle.
3. Sentiment, or instead taking the opposite side of retail trader sentiment (this major money that transfers the FX market requires someone to take another side of the transactions and will let the market do whatever it has to perform to dupe retail traders and other people to it). More on this here: http://www.myforexdot.org.uk/whyretailforexiswrong.html
For departing I use any of the above 3 signs from the opposite direction of my commerce (in this instance it was retail trader sentiment http://fxtrade.oanda.com/analysis/open-position-ratios ) or that I will sometimes use a fourth option that's a lack of follow through, lack of follow by being no new high (or low in the case of shorts) for a couple of weeks.
I am thinking of taking a sentiment trade and would like to post how it's going live (supplying forum are not sick of me doing that by now) on the Forex trading forum since I probably shouldn't have put this into trading conversation, sorry about this FF.
It appears to me you may want the proportion of buyers to sellers a little more lopsided,like possibly 57-60%or more before accepting a transaction. The big weekly down candle will probably be persuasive enough. If you post from the section that is interactive or elsewhere please let us know. I'm working on a complied mathematical method and if it is successful I can post it here somewhere.But it appears to work better with my swing trading. GoodLuck David consistently Regards
Hi Mr. D,
The forum sentiment trading thread is here https://www.nigeriaforextrading.com/...power-1x8.html
I'm primarily a trend follower and learn more about trend after than I do about sentiment; but I am attempting to learn more about sentiment.