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Thread: Goodies..?

  1. #1
    Junior Member alexhiggins's Avatar

    Goodies..? !!!

    Dear senior traders - today I run into this counter trend / reversal? (maybe wrong terms..)
    I was lucky (and, yes, a bit drunk ) and I made some 20 % gains following a very simple "strategy": 1 min trades, EUR-USD down and USD-CAD up - every other minute I "blindly" put the trades, because I was convinced it must be a major reversal in the making. So, of course I was lucky, but is it possible to spot these kind of "certain" reversal trends and make a crazy profit in a short time? (I knew that there was no major news or releases that time, of course so I concluded that the prior movement can't be a "real" trend). What do U say - are we in paradise? - Yes?? - No?? Click image for larger version. 

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  2. #2
    Legendry Member Okane's Avatar
    Yes!

    By using something called *sound the drums*... Trendlines and in combination
    with S/R lines.

    Here is an example of today but based on M1 chart (some of these lines I shared in our Skype group btw)

    M1 chart EUR/SD ◄ click here to see the magic

    I didn't mark everything on the chart just a few really quick.
    Live Webinar: Hidden Content
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  4. #3
    Specialist Member Million Dollar Baby's Avatar
    Trading reversals/retracements is never recommended unless you are an expert at it. So, unless you are very good at spotting reversals, why take more risk?

    I have been a fan of retracement trading in past, and still do sometimes, but now moving towards trading with the trend. As Okane mentioned, it is mostly S/R lines along with similar indicators such as Fibonacci plus you may add Oversold, Overbought. So it just depends on which indicators are you comfortable with.

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  6. #4
    Legendry Member willyw's Avatar
    [QUOTE=alexhiggins;66970]Dear senior traders - today I run into this counter trend / reversal? (maybe wrong terms..)
    I was lucky (and, yes, a bit drunk ) and I made some 20 % gains following a very simple "strategy": 1 min trades, EUR-USD down and USD-CAD up - every other minute I "blindly" put the trades, because I was convinced it must be a major reversal in the making. So, of course I was lucky, but is it possible to spot these kind of "certain" reversal trends and make a crazy profit in a short time? (I knew that there was no major news or releases that time, of course so I concluded that the prior movement can't be a "real" trend). What do U say - are we in paradise? - Yes?? - No??

    You are not in paradize yet. It conicides at that time when you take your trade and it's a reversal/retracement. Reversal is not easy as it seems. To spot reversal/retracement, you must be good in charts patterns and candlesticks. Go with the trend is the best

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  8. #5
    Moderator Kolyo's Avatar
    Trading with the trend is much easier for newbies and for experts. The only thing you have to spot is when there is a trend and is it solid. While on the other hand trading reversal with good win rate needs a lot more skills and price action knowledge. It is natural for people to try to fade each move, because there are more ranging markets than trending, but when there is a trend everything is much easier. Look at AUD/USD or even EUR/USD today! There were several easy money trades there - all trend following the flow.
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

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  10. #6
    Legendry Member Michael Hodges's Avatar
    Reversals can make for a nice string of wins, if the reversal follows through. They are risky. What's riskier is to trade while drunk. I get it, I like to drink.. a lot sometimes, but trading isn't like slot machines where a buzz doesn't matter. You got lucky, plain and simple.

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  12. #7
    Legendry Member milos's Avatar
    I use M15 and M30 charts for reverse trend trading. It could be very risky but it needs to watch charts very careful.

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  14. #8
    Master Member SeasaltMcFish's Avatar
    I love to trade reversals on the 1 min charts with about 30m running time. Don't feel comfortable at all in trading trends.

    Must be because I'm a rebel and like to swim against the stream
    Last edited by SeasaltMcFish; 08-11-2016 at 11:31 AM.

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  16. #9
    Senior Member Lelyz9's Avatar
    I'd give a yes for the possibility of doing such trades. And the how had been answered by many others.

    The drunken state, if you could do those trades consistently in such condition, maybe you are the new type of trader, the drunken trader, who knows.. In Kungfu movie, there's a very well known drunken master, so maybe you're aiming to be this one, but in trading world. So good luck to you Alex. Maybe you should watch the movie and learn how to have the mastery in the drunken state.

    Very important note: This reply is only for Alex, not for others, because the effect might get you to the hell rather than to the heaven.
    Last edited by Lelyz9; 08-11-2016 at 08:07 AM.
    There are only two ways to live your life. One is as though nothing is a miracle. The other is as though everything is a miracle - Albert Einstein. Hidden Content

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  18. #10
    Junior Member alexhiggins's Avatar
    I've been away for a few days watching Usain Bolt, but getting back gradually. Thanks so much for all the comments - each of them being very "crisp". Sorry about that drinking issue. I do know it will not work (or maybe it works, but it won't make any money). I wouldn't do it with real money; that was my toy-money account.
    I'm afraid (really afraid) my mentality forces me to be a reversal trader. I know that all logics tell me that following an existing trend is better than trying to spot the reversal point, but let's see if I ever can follow the logics. And glad to hear that SeasaltMcFish is that way too, so surely it is possible!
    Learning binary options trading is such an interesting journey into your inner self. I can handle learning most strategies, but I'm increasingly doubtful if my psyche will ever allow me to be a winner.

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