Why Is The Obvious Not So Obvious?

Discussion in 'Risk Management' started by nysestocks, Jan 25, 2009.

  1. Vindago

    Vindago

    4th of june 2021
     
    #7331     Jun 6, 2021
  2. Vindago

    Vindago

    upload_2021-6-6_6-6-8.png
     
    #7332     Jun 6, 2021
    Onra likes this.
  3. M4-1

    M4-1

    #7333     Jun 6, 2021
  4. Onra

    Onra

    NKlCxops.png

    Ok; the 1 min.! :)
     
    #7334     Jun 6, 2021
  5. Pelt

    Pelt

    My chart is in CST, which is 1 hour behind NYT.
     
    #7335     Jun 6, 2021
  6. M4-1

    M4-1

    ES 18-May-21
    NYT -1hr
    30 min chart
    Open = Yellow
    PDH = Red
    PDL = Green

    ES_18May21.png


    ES 06-Jun 21 pre-open

    ES_06Jun21.png
     
    #7336     Jun 6, 2021
  7. M4-1

    M4-1

    based on the chart you posted..what do you consider are the main points that makes you choose this instrument over another instrument..and how would you go about trading it?

    keep in mind you might be asked to back up your answer with evidence..not live trade evidence..but evidence to support your answer!
     
    #7337     Jun 6, 2021
  8. Vindago

    Vindago

    So M3, here is my answer: I trade Forex, in particular EUR.USD, there are two main reasons why I do so:
    1. Experience, I have been trading forex for several years now and I am comfortable with it, I am getting to recognize most of the "tricks" and "traps" and avoid them
    2. I lost/spent most of my savings so I have very little capital to trade and forex is the only market that offers me enough leverage to trade
    Extra reason, even if each market has its own peculiarities, the basics for the methodology that I apply to trade are the same.

    Here is how I go about trading Forex (or any marked, for that matter):
    • First, before day start I check what is the status for the higher TFs (M, W, D are Trending and if so in what direction or are consolidating after what direction).
    • Then I check lower TFs (4H, 1H, 30M and 15 M) and do the same checks as above
    • then I mainly follow price when trending on one or more TFs (the higher the intraday TF the better, especially if lower TF are in agreement) by taking a step back and running along until the trend gives signs of braking, or I reach one critical level, then I monitor carefully how price respond to the level and act accordingly.
     
    #7338     Jun 7, 2021
  9. Pelt

    Pelt

    Primary reason, I can set my bet size to exactly to whatever I want. The spread is often 2/tenths of a pip and it has sufficient movement daily.

    The former point seems most important, as it has been mentioned that trading is gambling.
     
    #7339     Jun 7, 2021
  10. Onra

    Onra

    I choose FB, because I know you hate FX and wanted a session with a specific Open.
    In reality I'm with Vindago & Pelt: EURUSD.
    Can't add much to their reasons.

    I believe there's some hidden order and little happens by coincidence...
     
    #7340     Jun 7, 2021