Intraday FX Player
- Thread starter CFerret
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"Big big lesson! Consistent execution is the most important skill in trading IMO..."
ABSOLUTELY!!! All we can take with us thru time are our toolsets and keep honing them and our understanding of them. This continuity of our behaviour in any given situation is key to success.
Markets have a way of wearing people out and then making big moves, a time /price ratio, sometimes price is compressed into long periods of time and then pice expands into short periods of time. There are quants that trade on these scenarios. They also readily appear on expert TA as yoohoo is demonstrating. My point in posting the Trichet comments is that this affords us a moment when we actually know WHY fundamentally the mkt is doing what it's doing, an opportunity to lean on the trade that TA shows us is probable.
ABSOLUTELY!!! All we can take with us thru time are our toolsets and keep honing them and our understanding of them. This continuity of our behaviour in any given situation is key to success.
Markets have a way of wearing people out and then making big moves, a time /price ratio, sometimes price is compressed into long periods of time and then pice expands into short periods of time. There are quants that trade on these scenarios. They also readily appear on expert TA as yoohoo is demonstrating. My point in posting the Trichet comments is that this affords us a moment when we actually know WHY fundamentally the mkt is doing what it's doing, an opportunity to lean on the trade that TA shows us is probable.
Well today was an important day on the daily. We needed to recover or we were in big trouble and it is not unusual to do it in style.
Perfect on the daily channels - this is what I meant about filling up with gas at the gas station - you've heard me say many times "going down on order to get up" - same as before the news... 1 hr calls up and we spike down and run up 200 pips.
EMTL Daily (dotted) caught bottom and top. Been sweet. I added a dashed parallel from the prior penetration of the blue channel and it worked a treat.
If you were aware of the importance of the daily channel when the hourly signalled it was always going to have huge implications. We were at make or break with news due and great support with the 1Hr producing 3 major swings today.
As I said earlier, 3 gifts and gave you time to collect on the third.
Perfect reversal bottom CF caught showing the RR on the 1 min is massive. Buying bottoms and selling tops in fast markets is a skill that can be learned.
If you found earlier today difficult I'd carry out a post mortem, even if you collected 200 pips. I thought today was easy - honestly. I used to put in 18+ hr days to figure out this stuff and wouldn't let it go. Now it's second nature and I'm not sure where you found it hard, but all the techniques are in the thread.
Good trading guys.
Perfect on the daily channels - this is what I meant about filling up with gas at the gas station - you've heard me say many times "going down on order to get up" - same as before the news... 1 hr calls up and we spike down and run up 200 pips.
EMTL Daily (dotted) caught bottom and top. Been sweet. I added a dashed parallel from the prior penetration of the blue channel and it worked a treat.
If you were aware of the importance of the daily channel when the hourly signalled it was always going to have huge implications. We were at make or break with news due and great support with the 1Hr producing 3 major swings today.
As I said earlier, 3 gifts and gave you time to collect on the third.
Perfect reversal bottom CF caught showing the RR on the 1 min is massive. Buying bottoms and selling tops in fast markets is a skill that can be learned.
If you found earlier today difficult I'd carry out a post mortem, even if you collected 200 pips. I thought today was easy - honestly. I used to put in 18+ hr days to figure out this stuff and wouldn't let it go. Now it's second nature and I'm not sure where you found it hard, but all the techniques are in the thread.
Good trading guys.
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