wuyexzy:

i thought the week is not yet over, it will be good to wait for the weekly close so you can base your analysis on that. going by what G/U printed last week it is still strongly bullish unless friday says otherwise... my thoughts though

Jaidooo:

Did you see how much it fell today?

Too bad I closed my position cos of NFP.

wuyexzy:

Eehya...it happens bro, i entered a sell after 4hr close below the level i pointed yesterday... i usually don't factor news in my decision (just my kind of thing though). i just closed the position.

kukoki:
someone should please help me recommend a broker for me. i have been using Instaforex but i don't think i am satisfied with their service.
Thank you.

kukoki:
someone should please help me recommend a broker for me. i have been using Instaforex but i don't think i am satisfied with their service.
Thank you.

Jaidooo:

Did you see how much it fell today?

Too bad I closed my position cos of NFP.

bigbasho:


Still holding on to mine. That last time I checked fundamentals was a year ago.

bigbasho:
E/A

redsox11:
NFP effect

redsox11:
Total beat up from my scalping this week +1% though… Got beaten up and down, black and blue, you name it

A lot of concentration needed. Lost view of bigger picture more often than I thought possible focusing on 5mins charts.

New found respect for successful scalpers. It’s a lot of work.

I’ll give it one more week.

bigbasho:


I dont think I can go back to picking levels on lower TF. I find looking higher and the chart seemed clear from there. watching chart on 5min can be very demanding to me. scalping is not easy bro. I dont want heart attack yet
kikakikakia

redsox11:


I couldn't agree more with you. It's a lot stressful than anyone could think. I'm trading off 5mins , it's like NASCAR I tell you. Some will go down as much as 1min to trade, I think you have to be a brain surgeon to successfully trade that chart.

Imagine, those years there is a guy on FF that trade on 5 seconds chart, I think he still does.

The first thing to consider is a working strategy that works best for you, that describes and predicts somewhat close to the accuracy of price movement; then think about the timeframe. Kindly note that whatever technical understanding of price movement that works best on the lower timeframe (eg. M5) as well has a high tendency to work on higher time frame; nothing is changing except the waiting time.

I see it more of a sinusoidal wave though unsteady but at the end, both output a similar overall trend, the lower TFs are sinusoidal waves with lower amplitudes when compared to the higher TFs, so when you trade them you are expected to often go in and out of the market at something close to the nodes and antinodes (max and min points on the graph) and this is because many cycles in lower TFs will make up only like half cycle of the higher TFs.

When you trade lower TFs
- you likely get more emotional and may lose temper which may make you blow your account since you will be recording too many losses/gains
- You do not see the big pictures the big brothers see, do you know that some big investors stay on a trade for 6months or even a year.
- You are not safe with news, especially when they come erratically and you want to keep going in and out, you blow account.
- It gets you stuck/glued to the computer, sometimes I do not even open my system in 2days (peace of mind), with this I can do other businesses, attend to friends and families.
- Technical indicators are more stable in higher TFs, i.e. they do not flunctuate randomly unlike in lower TFs, hence I see higher TFs like H4 higher as the best to test any new technical system.

Selah

bigbasho:

I dont think I can go back to picking levels on lower TF. I find looking higher and the chart seemed clear from there. watching chart on 5min can be very demanding to me. scalping is not easy bro. I dont want heart attack yet
kikakikakia

redsox11:
Total beat up from my scalping this week +1% though… Got beaten up and down, black and blue, you name it

A lot of concentration needed. Lost view of bigger picture more often than I thought possible focusing on 5mins charts.

New found respect for successful scalpers. It’s a lot of work.

I’ll give it one more week.

Pipsbasketings:
The first thing to consider is a working strategy that works best for you, that describes and predicts somewhat close to the accuracy of price movement; then think about the timeframe. Kindly note that whatever technical understanding of price movement that works best on the lower timeframe (eg. M5) as well has a high tendency to work on higher time frame; nothing is changing except the waiting time.

I see it more of a sinusoidal wave though unsteady but at the end, both output a similar overall trend, the lower TFs are sinusoidal waves with lower amplitudes when compared to the higher TFs, so when you trade them you are expected to often go in and out of the market at something close to the nodes and antinodes (max and min points on the graph) and this is because many cycles in lower TFs will make up only like half cycle of the higher TFs.

When you trade lower TFs
- you likely get more emotional and may lose temper which may make you blow your account since you will be recording too many losses/gains
- You do not see the big pictures the big brothers see, do you know that some big investors stay on a trade for 6months or even a year.
- You are not safe with news, especially when they come erratically and you want to keep going in and out, you blow account.
- It gets you stuck/glued to the computer, sometimes I do not even open my system in 2days (peace of mind), with this I can do other businesses, attend to friends and families.
- Technical indicators are more stable in higher TFs, i.e. they do not flunctuate randomly unlike in lower TFs, hence I see higher TFs like H4 higher as the best to test any new technical system.

Selah

hegelian:

The emotional deposit for scalping is too much but then its valuable for personal development...every successful trader should eventually try it to become a better person..
On the other way round, every trader trying to create a working strategy should look to trying it out on the lower tf...if your system work on the higher tf, go down to lower tf to look for its shortcomings.....lower tf help to show the week ness of systems

Pipsbasketings:
Still on the rolling

wuyexzy:

hey bro i still very much see Gold bullish fa... long term buy. like that bro wey always shine he's teeth . i wont be surprised if we see mother of bulls