[Branch closed!] EURUSD - Trends, Forecasts and Consequences (Episode 4) - page 185
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Here is the euro - stopped at the fractal level - and the red zone - I think the signal to SELL will go from it - and the army of hamsters begin to sell - and now either return along the trend to the blue line or break the red line and down - oh there is also a daily chart at the request of workers - wagons + fractal theory = megaprofit can also add Ghana
It's hard to say that the man is wrong (but the strategy requires a good knowledge of the analysis) ... As you can see in the picture, the price goes up sharply at the bottom on D1, it is 200-400 points
Do you trade on the MICEX? There's no chaos like on the forex market - on forex, it's impossible to predict trends longer than 1 day + frequent chasing of stops
In the foreign exchange market, you sell out 100 times faster than in stocks and the like because it's currency - and what is currency?
But I trade through another man on the NYSE - grains, coffee, beans - stocks -
And I will say honestly, on stocks you can make consistently more dough than on the currency market - the currency market has a very large liquidity + chase for stops among market makers - today up and tomorrow down - and again and again - this scares people with big money - as they fear that today in profit and tomorrow in loss and no one gives guarantees -
In stocks, there is a company + reports - take Gazprom - over the rainbow - analysis works there - and the currency market is chaos )))) Today there is a trend, tomorrow it is broken + draining hamsters with stops and the like has sickened even me + Gunn works there - 06 was a low day or bottom - you buy until 8 and oh yeah!
In the foreign exchange market, they'll hit your stops 10 times so you don't make a profit + make a false positive in the form of a trend - you get the picture
From the history of exchange rates: the Jamaican system, the emergence of the FOREX market
In 1972, the twenty most developed countries of the non-communist bloc formed the so-called Group of Twenty. ... A new mechanism for calculating Special Drawing Rights (SDR, or Special Drawing Rights; SDR is an artificial currency unit of the International Monetary Fund which is allocated among member countries according to their quotas and which can be used to purchase foreign currency, grant loans and make payments between IMF member countries) was defined. Whereas originally the value of SDRs was expressed in dollars and equalled one U.S. dollar, it was now proposed that the value of SDRs be calculated on the basis of a weighted average of a basket of 16 major currencies. In 1981, the number of currencies used to calculate the value of SDRs was reduced to five. Following the introduction of the euro, the composition of the currency basket was again changed but the principle of calculating from a basket of currencies remained unchanged.
...As a result, at a meeting of IMF finance ministers in Kingston, Jamaica, on January 8, 1976. Kingston, Jamaica, was ... formally permitted "free floating currencies". ...The member countries of the IMF gave up setting the official price of gold and started buying and selling it only at market price, obligatory settlements in gold with the IMF were abolished, one sixth of all IMF member countries' contributions in gold (about 25 million troy ounces at that time) were returned to these countries and replaced by the contribution in national currency. A further one-sixth was auctioned off and the money went into a special fund to help underdeveloped countries.
... All important decisions at the IMF are taken by a qualified majority vote of 85 percent. ... In 1999, the United States had 18 percent of the vote which allowed it to block any IMF action if necessary. (Note: in 2008-2009, quotas in the IMF were increased for China, Russia and several other countries)
...Thus, January 8, 1976 can be considered the birth date of the modern world foreign exchange market or FOREX(Foreign Exchange, FX). Since restrictions on exchange rate changes were removed, currency rates became a highly profitable financial instrument, i.e. the price of one currency in relation to another could fluctuate. This opened up a lot of opportunities for speculative transactions.
In the foreign exchange market, they will hit your stops 10 times to make you no profit + make false positives in the form of a trend - you get the idea
It depends on how you calculate stops (for D1)
1st variant
Profits are fixed using stop trades, which are placed under the Low or over the High of the previous candle, provided that the High/Low of the candle came out of the body of the stop loss.
For example, we have placed an order "on execution" to buy on the High of the candle. Accordingly, the stop-loss order in "waiting" - on the Low of the same candlestick. The next day, the opening order is executed and activates the stop loss. The candlestick on which the position is opened, usually has a Low, below the point of opening, so the next day we do not move the stop-loss, and move it to the stop trade only when the Low of the next day will be above the opening point of the position.
2nd variant
If the price from the position opening point passes the value of risk (stop loss), parity is set. Parity is also set if the price does not pass the Stop Loss value within 8 days. The stop-trade is moved under the Low or over the High of the last candle, when its High/Low is higher/lower than the High/Low of the previous candle, that is, after setting parity, the profit is fixed in the same way as in variant 1.
Variant 3
You need to build a Fibonacci fan from the beginning of the move to the current extremum and move a stop trade under the first correction line.
Many traders set SL depending on their greed. I sat through a 70 pips move against me last night, and I closed at +130 today.
From the history of exchange rates: the Jamaican system, the emergence of the FOREX market
In 1972, the twenty most developed countries of the non-communist bloc formed the so-called Group of Twenty. ... A new mechanism for calculating Special Drawing Rights (SDR, or Special Drawing Rights; SDR is an artificial currency unit of the International Monetary Fund which is allocated among member countries according to their quotas and which can be used to purchase foreign currency, grant loans and make payments between IMF member countries) was defined. While the value of SDRs was originally expressed in dollars and equated to one U.S. dollar, it was now proposed that the value of SDRs be calculated based on a weighted average of a basket of 16 major currencies. In 1981, the number of currencies used to calculate the value of SDRs was reduced to five. Following the introduction of the euro, the composition of the currency basket was again changed but the principle of calculating from a basket of currencies remained unchanged.
...As a result, at a meeting of IMF finance ministers in Kingston, Jamaica, on January 8, 1976. Kingston, Jamaica, was ... formally permitted "free floating currencies". ...The member countries of the IMF gave up setting the official price of gold and started buying and selling it only at market price, obligatory settlements in gold with the IMF were abolished, one sixth of all IMF member countries' contributions in gold (about 25 million troy ounces at that time) were returned to these countries and replaced by the contribution in national currency. Another sixth was auctioned off and the money went into a special fund to help underdeveloped countries.
... All major decisions at IMF are made by a qualified majority vote of 85%. ... In 1999, the United States had 18% of the vote, which allowed it to block any IMF action if necessary. (Note: in 2008-2009, quotas in the IMF were increased for China, Russia and several other countries)
...Thus, January 8, 1976 can be considered the birth date of the modern world foreign exchange market or FOREX (Foreign Exchange, FX). Since restrictions on exchange rate changes were removed, currency rates became a highly profitable financial instrument, i.e. the price of one currency in relation to another could fluctuate. This opened up a lot of opportunities for speculative transactions.
Give me the name or link to at least 10 people who made their fortune in forex from scratch - and I'll give you 20 people who have made tens of millions from scratch on stocks.)
Name me or give me links to at least 10 people who made a fortune in forex from scratch - and I'll give you at least 20 people who made tens of millions in shares from scratch )
You must pay for the fun)))
Depends on how you calculate the stops.
the 1st variant
Profits are fixed using stop trades, which are placed under the Low or over the High of the previous candle, provided that the High/Low of the candle came out of the body of the stop loss.
For example, we have placed an order "on execution" to buy on the High of the candle. Accordingly, the stop-loss order in "waiting" - on the Low of the same candlestick. The next day, the opening order is executed and activates the stop loss. The candlestick on which the position is opened, usually has a Low, below the point of opening, so the next day we do not move the stop-loss, and move it to the stop trade only when the Low of the next day will be above the opening point of the position.
2nd variant
If the price from the position opening point passes the value of risk (stop loss), parity is set. Parity is also set if the price does not pass the Stop Loss value within 8 days. The stop-trade is moved under the Low or over the High of the last candle, when its High/Low is higher/lower than the High/Low of the previous candle, i.e., after setting parity, the profit is fixed in the same way as in variant 1.
Variant 3
You need to build a Fibonacci fan from the beginning of a move to the current extremum and move the stop trade below the first correction line.
Why is it that simple? Then tell me why a share stands still near a level before the fall - but on the Forex market, before the collapse, the stops are retraced and then go back by 150 pips?
Here is an example of EUR GBP - they caught 2 groups of traders at once - who traded on the breakout - and who traded against the rainbow - hence they hit their orders on the breakout and blew their stops - is it logical? - that's why i get irritated with forex - they create fake trades to get the crowd into a meat grinder and dump them wherever they want
You are not a stock trader my friend? - I'm not a stock trader then you'd know what I'm talking about.)
But forex has advantages - it's the adrenaline of how your deposit flows away, if you're wrong or it's very active in the sense that every day there is movement of 80 pips, while in stocks you can die of boredom - but it's because of the market I learn every day - the moon phases, weather forecasts for all regions - air temperature - humidity, pressure - and can you imagine? if a degree of heat or cold - millions in electricity or heating costs or cost savings - I for example - everyone has his own secrets of trading - but it's not a mega-profit, but rather nerve-racking - the graph takes into account everything at the moment - no one knows the future - so we follow the trend - or guess and burn deposits.
Name me or give me links to at least 10 people who made a fortune in forex from scratch - and I'll give you at least 20 people who made tens of millions in shares from scratch )
Name me or give me links to at least 10 people who made a fortune in forex from scratch - and I'll give you at least 20 people who made tens of millions in shares from scratch )