Sorry to dig out this old post (I'm very, very slow in reading compared to how fast folks post), but..

OMG! The first three posts of the linked thread - PURE COMEDY GOLD!

It's like someone took this(/or any FX/trading related) forum's stereotype, gift-wrapped with crazy glue and kid crayon labeling and put it on a silver platter.
Those three posts are everything trading forums are about

Point being:
If contrasted with that (and almost every other thread percentage wise) on just about any/all other forums...well, you'll realize the % of good threads to "those ones" is basically identical to "those that make it" vs those that don't.



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I'm very, very glad to see that people here are already saying pretty much everything I would, too, if I were around more often.




And as for daily bars sucking - GBPUSD very recently rose 1500 pips from a daily 200 pip setup, thank you very much :P

And if you look back over what the subprime crisis did and check out some daily bars/overall moves, well, I don't know about anyone else, but if you continually just do the same thing as on any other timeframe and don't forget to trail, you'll end up giving yourself a shot at making good r/r either way.

Also - I am very curious how "1h can do a lot for you" is in any way a new thing to this thread. We've had it several times, and it's been shown as generally doable and just another form of PA applied with the same principles as always time and again. One could say we've basically already had it all before and also already have gone over it, time and time again.

Why anyone could or would claim that we're "hiding" something - well, I dunno, but to put it bluntly, he/she couldn't have read / followed the thread too closely I guess(keyword for example on 1h trading? Wiz - needn't say more.).

So I guess this means...
REREAD TIME!
Everyone, your homework is to re-read the first, oh, 20-30k posts of this thread

Seriously though, it's something you should do if you've got the time...so much interesting / good stuff in there, and not just about trading.

Also I saw clockwork has been working overtime

__________________
Trust price. Know yourself.

Someone who is on the same side as you (on the YEN trades...boy, sure feels good not to trade against you for once! Teehee..)!



Reminds me, I still have some bowing to the master to do

Never shall I underestimate the mighty power of your multi-yards again!

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In my own defense, I don't smoke!

Do you see now why you're in dire need of a reread? LOL

But good things come in three, man..like, stop loss, entry, exit :P
Hence threesome bowing!

Edit: W00t, 3200th post!

That's like, 2^5*100!

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Intriguing, that methodology reminds me very strongly of a lot of beginning(I'd say "Freshmen", but that's not what we call them here) college students way back when, it's almost scary

But enough clogging and fun, I've got to run...see all of you guys again perhaps a bit later (+- another 6-12 months or so! )


(...anyone notice, it wasn't just the 3200th post, but also my 3 year FF membership anniversary...dang. Toldcha man, it's them 3s..)

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Congrats Jarroo, but don't start singing and stripping to "It's getting hot in here, so take off all your clothes.."


Enjoy your trip Jim and try not to spoil the bears, they'll be wandering into bars instead of streams next and you know how they love to hog the nachos and always eat all the pretzels!

My very best

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People keep mentioning / hoping I post more. I don't understand. People like Jarroo et al already post all the good stuff. The weekly oil BEOB for example.

But since I read somewhere around here that there were no setups or at least no apparent ones and that, really, daily bar trading like, totally sucks, I thought I might just throw up 3 charts/progressions. Those totally sucky dailies basically spat out several 1:1-1:3 (and more) setups in the space of, well, uhm, days.

Basically what I'm saying in terms of ANY timeframe setup isn't "Don't take/trade them", I'm saying make sure you're good at it, then "Just do it".
I don't think there really ever needs to be a "xyz is best and that's the end of it" in the first place..if you CAN trade the 3M or 5M or tick chart etc pp, go for it. If you CAN trade the 1h, 4h, then go for it.
I just personally think it would be super-silly to just ignore the end of day trading(or, in Oil's case, end of week) you can do with 1 order and 1 adjustment a day and not do that as well.
Why is everything always so black and white?


About the charts:
This has probably become obvious already, but I've begun simply "tracking" the progression of trades to eliminate the "could just be drawn in afterwards" angle to begin with. I am still not posting any of these "live" for a good reason.

Anyhow. Sorry for not having a "before" chart of EURAUD, but given that it trades inversely with AUDUSD and the stock markets, I felt it was a bit of a duplicate to being short AUDUSD, short AUDJPY, short xxxJPY..well, you get the idea. Lower stocks, lower "value" pairs. But it did show well how stuff moves from x to y to z, so I included it.

As for the charts - yes I am aware the setups on EURJPY for example are "mix and match" in terms of chart feed..I do that. I like charting pairs on both feeds.
For me it just meant more confirmation of the move lower being underway. Also please just ignore the "squiggly lines" if you want.

As for the FEs, that's just rudimentary help in "targetting". Bundy knows what it's all about

Charts part 1 of 2:

Attached Thumbnails

             

 

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Gold, also formed a weekly IB. Tons of "what to do next" struggling on the daily.

This is basically just a really lagged "USD strength / commodity weakness" trading thing at the moment I guess, and me taking advantage of the fact that virtually every place else has already "given away" direction ahead of time.
I guess all the gold bugs newsletters made gold stay afloat just that little bit longer than everything else.

What I am saying is - I saw a pattern (to me, and my hobby EW skills, a likely end of a 4th wave) on Gold, saw that others had already earlier formed it out and moved on it, saw daily PA and just took it. There was actually a TL in the way, but given how things are looking I just reduced size a bit and nonetheless took it.

This is probably 5000% over the top rationale and will have most KISS folks laughing. I dunno, it works for me, that's really all I want
KISS version: IBs on s/r, especially after windup, tend to work.

Basically everything posted is just "one trade"(one reason, source, mechanic...same direction/moves etc) - the destruction of value as stocks fall. But there was PA in all of it. Make of it what you wish

Charts part 2 of 2:

Attached Thumbnails

           

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I agree.
That's really the bottom line(the very first line).
It's been dozens if not hundreds of times that this has been said and for good reason. I am repeating this almost every (other) week.

It took me quite a while to "get this", but in the end one needs to wake up, stop discussing the infinite possibilities of how one COULD be trading and instead pick something, work/research hard and get to it.
I've been reminded of trying to "overthink" and overcomplicate this along the way many, many times, from several people.
Rightfully so, but that's how my character works. One has to find ways to cope and get around it.

Consequently:
Don't be shocked or anybody take this the wrong way, but around the time I stopped diverting my main energy into discussing theory in threads, fighting all those that appeared to be "doing it wrong" and simply realized this: "What the heck am I doing? What I really need to actually be doing is take care of MYSELF to get my learning ahead. I KNOW what needs to be done(after observing these things on the chart a million times), so I need to re-focus on the DOING.", the learning took off.
(The "doing" obviously ALSO included NOT hopping to ANY other system anymore until I really felt I had a "core" down to begin with)

Let's be absolutely brutal for a second:
Nobody at your broker house cares whether you have the best argument, are verbally or theoretically right or have a great say on any matter in a forum.
They will only give you money if you net pips - and that's it.

We need to realize when we are creating a diversion from our own selves (and protect us, refocus, get back on track etc pp. I've advocated this "self watch" or taking care of yourself several times as I think it's tremendously important).

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Congrats on your 1000th post Ryan

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