CatFx50 - page 759
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Hi!!
What a pair!!
Hi!!
New stop loss.
Hi!!
Again with the crazy horse.
Hi!
Closed half.
Hi!
I was at my office this morning. I was looking at GBPJPY chart. A friend of mine popped up and he said: "I do not know why you are looking at charts all day long!".
And then he added: "OK, you want to know what trading
is? Sell now GBPJPY". That pair was trading at 224,70.
I did it. And you know what? It went down to 224,20.
He does not know anything about FOREX. He does not trade at all.
So, what happened here? Luck. The same luck you need to have if you go to the casino or you toss a coin and you bet. But, mates, trading is a matter of probabilities, specially TA based.
Market today, for instance, is a mess: no direction so far. Look at GBPUSD, TF30M and you will understand what I mean.
When we do not have a trend, when market is flat is when luck is 100% needed. All systems fail, except one: NTS (No Trade System).
How to know we don't have to pull the trigger?
Mainly, looking at charts without any indicator at all. Price action is what we need to see. If then we are able to draw its supports and resistances, we will have something more clear. Then we should look at a proxy. Mine is USDCHF.
We have now EURUSD above its important resistance at 1,3143. But we do not have USDCHF below its important support at 1,2191. So, or USDCHF breaks down 1,2191 or EURUSD rise will be short live.
If I'm damn wrong, sorry.
Hi!
I was at my office this morning. I was looking at GBPJPY chart. A friend of mine popped up and he said: "I do not know why you are looking at charts all day long!".
And then he added: "OK, you want to know what trading
is? Sell now GBPJPY". That pair was trading at 224,70.
I did it. And you know what? It went down to 224,20.
He does not know anything about FOREX. He does not trade at all.
So, what happened here? Luck. The same luck you need to have if you go to the casino or you toss a coin and you bet. But, mates, trading is a matter of probabilities, specially TA based.
Market today, for instance, is a mess: no direction so far. Look at GBPUSD, TF30M and you will understand what I mean.
When we do not have a trend, when market is flat is when luck is 100% needed. All systems fail, except one: NTS (No Trade System).
How to know we don't have to pull the trigger?
Mainly, looking at charts without any indicator at all. Price action is what we need to see. If then we are able to draw its supports and resistances, we will have something more clear. Then we should look at a proxy. Mine is USDCHF.
We have now EURUSD above its important resistance at 1,3143. But we do not have USDCHF below its important support at 1,2191. So, or USDCHF breaks down 1,2191 or EURUSD rise will be short live.
If I'm damn wrong, sorry.Hi!
I was not wrong
.
EURUSD high so far: 1,3185.
USDCHF low so far: 1,2167.
BTW, CatFX50 bought EURUSD at 1,3121 (11:00cet) with stop loss at 1,3110.
Hi!!
How are you?
Trades already taken.
Hi!
That's big.
Hi!
Closed 2,5 lots.
Hi!!
OK, time to go to sleep.
Have nice dreams.