If you want to fail as a trader, study TA

[DionysusToast]

Quote from Fibbin-Archie:

Hmm yeah, volume is a good indicator in this regard, however, I've predominantly switched over to currencies that have no volume.

Actually, I would say that volume is a terrible indicator for breakouts.

Consider that most traders put there stops above the last swing high - when price is pushed through that point, those stops will be hit and cause the first flurry of trades - this will give you the volume confirmation you think you need but it is people closing trades, not joining the market.

 

[trendo]

This thread is the ET equivalent of a shaggy dog story. For those who are unfamiliar with that term, I lifted a definition from Wikepedia, as follows: A shaggy dog story is an extremely long and involved joke with an intentionally weak or completely non-existent punchline. The humor lies in building up the audience's anticipation and then letting them down completely. The longer the story can continue without the audience realizing it is a joke, and not a serious anecdote, the more successful it is.

 

[odlareg]

Quote from The Expert:

GO,

Some time ago TE mentioned that a certain pair would more than likely head to test a certain level.

Do you remember what that level was?

Do you know what TE thought the way he did at that particular time?

TE

Well TE,

I found the post: (21-5-2010)

Now, I did say the we should be ready, and, I did say that the EUR/USD might well see another push down, which it did, and then, what happened, we had the anticipated rally that was a very good probability, based on THE CHARTS, not on the squiggly lines and silly things like FIBS, GANN angles, etc, etc, for, like Da Vinci Code, if you look hard enough you will find many things that will line up, but always after the event in trading, and, it is spotting a possible GOOD OP, and ACTING ON IT, that will make you GOOD money

Do you remember what that level was? 1.256

Do you know what TE thought the way he did at that particular time?

Time will tell

GO

 

[Fibbin-Archie]

Quote from DionysusToast:

Actually, I would say that volume is a terrible indicator for breakouts.

Consider that most traders put there stops above the last swing high - when price is pushed through that point, those stops will be hit and cause the first flurry of trades - this will give you the volume confirmation you think you need but it is people closing trades, not joining the market.

DT, how about watching the volume just prior to the breakout and comparing it to the volume seen at the last test of that level? Also stops are usually located a little way past the breakout level. Excellent point mind.

PS. On major currency pairs, stop hunting spikes will usually go 10 to 20 points past the previous high/low.

 

[Fibbin-Archie]

Quote from The Expert:

FA, if you apologize to BO, TE will upload a pdf that may be useful for currency trading. It was given to TE some years ago by a trader who asked TE to comment on it. It's usefulness will depend on the person that uses it.

TE might even leave the password out, but that is really killing TE and might just not be possible, but, if the password is in place, a EULC will of course be given

TE

Big soz, he caught me in a bad mood

And it was all my fault for mentioning Alice In Wonderland.

 

[themickey]

Quote from trendo:

This thread is the ET equivalent of a shaggy dog story. For those who are unfamiliar with that term, I lifted a definition from Wikepedia, as follows: A shaggy dog story is an extremely long and involved joke with an intentionally weak or completely non-existent punchline. The humor lies in building up the audience's anticipation and then letting them down completely. The longer the story can continue without the audience realizing it is a joke, and not a serious anecdote, the more successful it is.

+1
Very cleverly said and on the money
Me thinks 'the eggspurt' should hit the hershey highway, but I think she's not done yet, more BS yarns to tell, he has newbs who are always lurking around for tidbits which eggs her on the continue her rambling spur of the moment tales.

 

[Fibbin-Archie]

Quote from themickey:

+1
Very cleverly said and on the money

Oh we can all sit on the sidelines and take the p*ss, how about actively participating and contributing? Now that really would be clever.

 

[TheMan]

Quote from Fibbin-Archie:

Oh we can all sit on the sidelines and take the p*ss, how about actively participating and contributing? Now that really would be clever.

contribute to what exactly?

this entire thread consists of 1 guy, that refers to himself in the 3rd person, spewing off a bunch of regurgitated trading 101 crap

the best was the abcd lines drawn at an angle to try and throw people off

classic


also love the parts when he says he has to stop because people are telling him he is giving too much away

funny shit




TheMan has now spoken

TheMan thanks you for your time

TheMan

 

[Fibbin-Archie]

Quote from TheMan:

contribute to what exactly?

this entire thread consists of 1 guy, that refers to himself in the 3rd person, spewing off a bunch of regurgitated trading 101 crap

the best was the abcd lines drawn at an angle to try and throw people off

classic


also love the parts when he says he has to stop because people are telling him he is giving too much away

funny shit




TheMan has now spoken

TheMan thanks you for your time

TheMan

Why all the bitching mate? It's quite simple, if you feel it's beneath you, then go and read something else...

 

[gktk]

or they could just not read the thread.

I still wonder why the antagonists consistently read the thread, subscribe and make comments, what a waste of their time.

Just don't read it

Quote from Fibbin-Archie:

Oh we can all sit on the sidelines and take the p*ss, how about actively participating and contributing? Now that really would be clever.