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Thread: Price reversal points

  1. #341
    Junior Member
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    No idea... I haven't talked or emailed MJP for years.

  2. #342
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    I had some free time this week-end so I decided to draw a lot of RM points for the major pairs and, as stated in this thead, on Fx they don't seem to be very reliable IMHO.

    Sometimes, on a pair, they work at certain timeframes but not others, during a certain time period, without any apparent logic. So CS and BP seem to be the best way to analyze the forex market.

  3. #343
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    Apparently this thread is dead. Too bad, this subject is so interesting.

  4. #344
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    yup. theres a few possibilities.

    1. people are busy building their trading accounts.
    2. people are disillusioned and believe they cant make trading pay having blown their savings.

    The average life of a trader is 3 months.

  5. #345
    Wizard
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    very true, foxy. Not sure about 3 months, but yes, it short. We observe the same on chatrooms. Funny, most people resign when they are very close to success.

  6. #346
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    yes, it is indeed a shame. So much effort has gone into learning so much for it only to be abandoned when many will be right at the threshold of making it their life vocation. Determination and belief in your ability is key for so many things in life.

  7. #347
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    This thread is dead because there was no real direction. It's something I mentioned many months ago. The guy who started this thread kept coming up with many indicators and no proper explanation for anything. I asked specific questions and requested clear information in order to better explain for everyone's sake but I was criticized and I was made look like the fool, so I laughed and said we will see how long this thread will last, knowing very well that it was not going anywhere. And guess what? Here we are at last, the thread is dead besides the fact that people get on here and asking questions "is the thread dead?" "oh it's a shame" etc etc. look back at the history Posts and u will see the genuine questions I was asking but all we got was a million indicators and explanations that confused people more. Hence a dead thread is what to expect. And I assure u the guys are not counting their money or building up their accounts. Lol.

  8. #348
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    Hi everyone, some of us are still trading full time,we should be sharing ideas on how to be better traders,SMP came with good ideas, foxy made contributions, and a lot of others.I am sure others have trading styles that can be useful.if people post questions we can all share our knowledge for the betterment of everyone ,and also remember newbies come to see and learn.blowing accounts is part of the learning process.I might be busy on other things and projects we can still learn a lot unless we are saying we have all the answers to trading,of which i know we do not.

  9. #349
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    Kolapo great looking thread and technique. I'll be reading all of it this weekend and post questions then. Thanks for your willingness to answer.

  10. #350
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    Quote Originally Posted by foxy View Post
    yup. theres a few possibilities.

    1. people are busy building their trading accounts.
    2. people are disillusioned and believe they cant make trading pay having blown their savings.

    The average life of a trader is 3 months.
    Very true Foxy! Totally agree with you on both points!

    3 months...that'd make me a Yoda in this business! Ha...ha...ha!

    I have said this before... people should accumulate enough savings before they venture into speculative investing with high leverage so that they can trade with very small position sizes and still have meaningful returns. Otherwise, you are bound to get bored anddemotivated after trading for hours on end to end up with only meager returns at the end of the day. And people should also learn to have the patience and understand what compounding returns can do to their accounts.
    The moment you start risking 2, 3 , 5 or even more % on a single trade when you are just starting out, it is sure a recipe for disaster ( heck, I still can't convince myself to risk more than 2% on a single trade, even if its an A++++ setup, after 10+ years of investing/trading).

    I firmly believe that there is no need for people to blow a few accounts before they can become successful as long as they can control what is between their ears...absolutely not! Just don't be in a hurry!

    Just my opinion, of course!

    OK, now I am off my soapbox :-)

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