Some of my forecasts

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rajesh.sadhanala

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#1,631
#1,631
4xpipcounter said:
I wanted to make another point, and I'll just share some introspection.

To me, progress has always been consistent gains. Do I leave pips on the table!?!? All the time!
Do I have ugly trades? A lot of the time! Bottom line is I like to know my equity is better off today than it was last month at this time.
I hone and further develop my skills as time progresses, and that should be natural in order to keep an edge on the market. After all, there are no degrees in the School of Forex, just constant learning.

You're doing an excellent job as long as you have consistent gains.
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After a break, I have started trading regularly again from this month. I have changed in lot of aspects especially on MM. Actually I must thank you for your thread. I have adapted few things while we are discussing. I would see my consistency after few months as it is too early.

Whatever I would like to hear, you just convey the same message. I like the way u plan ur trade and u agree to the new direction when things go otherwise. They are many things that I like about your trading style and I really enjoy discussing with you.

Regards
Raj
 
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4xpipcounter

Well-Known Member
#1,632
#1,632
Thanks, Raj. I'm really delighted you are getting a benefit. I love doing this, but it adds more enjoyment when we can talk, enjoy, and all become further engaged in what we do.

Just in your questions, it opens me up, and helps me to talk about some things that otherwise I would not talk about which helps me. This is why I encourage comments and questions and candour, as there are no stupid questions or comments. There for a long while we were talking quite in depth about the ichimoku. Of late, it has been the trendlines. As a result, it is a mutual benefit, so I'm thankful for you and everyone else.


rajesh.sadhanala said:
After a break, I have started trading regularly again from this month. I have changed in lot of aspects especially on MM. Actually I must thank you for your thread. I have adapted few things while we are discussing. I would see my consistency after few months as it is too early.

Whatever I would like to hear, you just convey the same message. I like the way u plan ur trade and u agree to the new direction when things go otherwise. They are many things that I like about your trading style and I really enjoy discussing with you.

Regards
Raj
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forexworld

Active Member
#1,633
#1,633
rajesh.sadhanala said:
Haha.. :) I feel that money management and position sizing are two very important aspects in the trading. Discipline is really a key to success. I use to be reckless at the beginning and converted to very conservative. I am curious to know about ur margining.. hee hee.. :)

I wish that someday someone will talk about my trading skills :thumb:

Regards
Raj
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I like your spirit, I am glad that not only you and me but other people also are getting aid from this thread! Yes whatever goes wrong just don't give up, I know may traders who gives up their trading after weeks, and even months! because they lack the discipline to trade and want to become rich overnight! I think one of the draw- down for most of the traders is making money, The trader should focus on a getting pips , every trade on the green side and exp that makes them win, money will automaiticaly follow!!!!! it is the greed that will kill it!!the problem with me is that I can't find trades everyday, and sometimes it gets me tensed and stressed as a resultI enter without confirmation and loose and after that I realize ! I think out of 100% only 5% of people are making money large on forex! Some one asked me months ago where are those 5 % traders? they have never heard of them starting with a small account size and make it large! has any trader done it"
Now I can gladly tell them one is my friend :)
 
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forexworld

Active Member
#1,634
#1,634
4xpipcounter said:
Like the EUR/USD, the Aussie seems to want to push it south, the only thing is with respect to the cloud, the move seems premature.

The 200 MA is also a solid form of S or R.
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Mr paul eur/usd is well supported at 1.3660, the daily cloud in a nutshell gives me an indication somewhere that it might be going to 1.3527 and then enter the cloud sideways! the bottom cloud is so strong resistance just not permitting the pair to enter it it says the "parties's over" and for aud/usd daily everything it looks like it is going to enter the cloud from side ? what do you say?
 
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4xpipcounter

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#1,635
#1,635


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There are a couple of terms I use frequently, and that is "containment" and "decision point". I don't know if the wick will be seen once the pic posts, but there was quite a deep move past the TL. It still contained, because the candle finished on top of the TL.

I referred to this area as a decision point. It was not known if momentum would carry price action through this point or it would contain price action. So far, it has contained and the WR1 at 1.4011 is still in reach between now and the close of Friday.

This is also why we don't trade the TL break when it initially breaks the TL, but wait to see if the candle closes on the other side then wait for the correction.

At this point, the consolidative phase is over. On Friday, we get the breakout.

My bias is still north, however, when I say "we get the breakout", that still implies either way.
 
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4xpipcounter

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#1,636
#1,636
I think we posted the same time. The TL, either way, needs to be broken to give a clear indication.


forexworld said:
Mr paul eur/usd is well supported at 1.3660, the daily cloud in a nutshell gives me an indication somewhere that it might be going to 1.3527 and then enter the cloud sideways! the bottom cloud is so strong resistance just not permitting the pair to enter it it says the "parties's over" and for aud/usd daily everything it looks like it is going to enter the cloud from side ? what do you say?
Click to expand...
 
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4xpipcounter

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#1,637
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Forexworld, with regards to your other question, the AUD/USD is in a similar plight as the EUR/USD. One of the differences is a fresh 4-hour cloud has not even been touched yet. Momentum, as per my Weekly Forecast, had this market heading for one more trip further north to the WR1 at 1.0501.

The consolidative phase is about complete for this pair, so it is due to breakout, By Friday, and like the EUR/USD, we should see that happening.
 
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rajesh.sadhanala

Well-Known Member
#1,639
#1,639
forexworld said:
I like your spirit, I am glad that not only you and me but other people also are getting aid from this thread! Yes whatever goes wrong just don't give up, I know may traders who gives up their trading after weeks, and even months! because they lack the discipline to trade and want to become rich overnight! I think one of the draw- down for most of the traders is making money, The trader should focus on a getting pips , every trade on the green side and exp that makes them win, money will automaiticaly follow!!!!! it is the greed that will kill it!!the problem with me is that I can't find trades everyday, and sometimes it gets me tensed and stressed as a resultI enter without confirmation and loose and after that I realize ! I think out of 100% only 5% of people are making money large on forex! Some one asked me months ago where are those 5 % traders? they have never heard of them starting with a small account size and make it large! has any trader done it"
Now I can gladly tell them one is my friend :)
Click to expand...
Yep u r right. I feel that trader should be focusing on the plan of the trade. Like improvising it day by day thatswhat I am aiming at.
I use to come out of a trade if it gives me X pips. Control emotions and change ur exit plan based on the candles formed instead of a static exit point which is planned earlier. I dont mind giving some pips to the market to follow the methodology that I believe.

Actually I am trying different variations and asking questions to Paul to come with a methodology. Still long way to go.

Regards
Raj
 
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4xpipcounter

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#1,640
#1,640
Gbp/jpy ii



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In post # 1640 I spoke of this pair breaking away and hitting the WP at 122.11. I also talked about the WR1 possibly being hit at 123.06. You can see with the surge we just had we are close to the WP. It is doubtful the WR1 is going to be hit. A new upper level will be created for next week, and the market will have that to look forward to.

This pair will be further updated in my Weekly Forecast, but it is still expected for it to continue higher to the bottom of the fresh daily cloud at 123.41 (and quickly descending), and we will see a strong ST reversal. After that reversal has been completed, we will then head up to the weekly TL, currently at 124.60. Eventually, that gets broken, as the market heads towards the weekly kijun at 126.90. The level to keep an eye on for a strong reversal that will bag lots of pips is 132.35.
 
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