prettyboey:
Well well well, get ready traders..
USDCAD showing "mix-setups" here..
1.Its in a descending channel and at the same completing a double bottom or a"W"
Well i kept saying the best way to play a descending channel is go SHORT at the resistance of the channel,therefore price is fast approaching the resistance of the channel and looking at the stochastic; its in the favour of the BEARS.
2. There is a formation of double bottom or a "w" too at same time but before the rules of the double bottom can play then that means the BULLS have a huge dragon to slay ie the resistance of the descending channel.

NB: whichever way there is gonna be a perfect trade setup. So which side will you be ? with the BEARS or the BULLS ?

Disclaimer : Viewer's discretion is advised!!!
Happy Pippin !!

Alright, USDCAD want to play the "double bottom style" the BULLS are trying their best to slay the dragon, i will stand aside to watch this fight. If finally the dragon (resistance) is dead then i will join the BULLS for "double bottom ride"
If not then i will just join the BEARS for my "descending channel ride"

buying back EA for another 150pips.

jorel1:
If I say forex is 70% gambling , some Monica beginning with S would come out to attack my post. .. Nobody wants to get associated with the word gambling but it is actually since most decisions we take results in a 50-50 probability ... if you are buying or selling from a level and not 100% sure if goes up or down then its a gamble.

Well you call forex gambling because it's not 100% sure, please post a business that is 100% sure, I would highlight it's drawdown for you. I have done the evaluation before. And I noticed forex is top of the food chain.
Even the world's richest have their fingers in the market .

I'm waiting for 100% sure businesses still.

Regards,
EF

prettyboey:


Alright, USDCAD want to play the "double bottom style" the BULLS are trying their best to slay the dragon, i will stand aside to watch this fight. If finally the dragon (resistance) is dead then i will join the BULLS for "double bottom ride"
If not then i will just join the BEARS for my "descending channel ride"

Double bottom
Please sir turn your chart upside down,
I'm clearly seeing nothing of any such on h4.

Regards,
EF

Feshizzy:


Well you call forex gambling because it's not 100% sure, please post a business that is 100% sure, I would highlight it's drawdown for you. I have done the evaluation before. And I noticed forex is top of the food chain.
Even the world's richest have their fingers in the market .

I'm waiting for 100% sure businesses still.

Regards,
EF

I guess every decision we make in life is a gamble...

jorel1:


I guess every decision we make in life is a gamble...

Our perspective differs abit on this term.
You see it as gambling I see it as calculative risk, which basically that's what all business a built on, the more you get used to it, the lesser the risk, in a game of probability, I believe forex should be considered higher, as sweetmaris once said, "the market is just repeating itself, it has happened before"

Forex is complex but not complicated, what you think of the market becomes so.

Every business, yes is considered taking a risk, but decision, like praying to God is 100% sure, might not b immediately but definitely

The question is why did you even bring this up the first place?

Regards,
EF

Feshizzy:


Double bottom
Please sir turn your chart upside down,
I'm clearly seeing nothing of any such on h4.

Regards,
EF

Really?

I've joined the Arewa boys on GU... SL =100 pips... Lets see how it goes.

dorodee:
I've joined the Arewa boys on GU... SL =100 pips... Lets see how it goes.

It's rather too early/aggressive entry.

prettyboey:

Really?

Chisos!
Bros firstly, that's not a double bottom,
Price made new lower low.
The only fact here, is there was divergence as indicated on your stochastic.

Anyway, happy pipping.

Regards,
EF

Feshizzy:


Our perspective differs abit on this term.
You see it as gambling I see it as calculative risk, which basically that's what all business a built on, the more you get used to it, the lesser the risk, in a game of probability, I believe forex should be considered higher, as sweetmaris once said, "the market is just repeating itself, it has happened before"

Forex is complex but not complicated, what you think of the market becomes so.

Every business, yes is considered taking a risk, but decision, like praying to God is 100% sure, might not b immediately but definitely

The question is why did you even bring this up the first place?

Regards,
EF

Why I brought it up? you brought it up in the previous page . I am only following up from a different perspective. However , decisions we make in forex is a gamble in as much as you try to twist your ideas about it or look for a more appealing terminology to qualify it.

[quote author=Feshizzy post=44429061]

It's rather too early/aggressive entry.


Yeah you're right.... Newbie tinz.... If it takes me out, I'll look for another opportunity... Thank Boss!

Feshizzy:


Chisos!
Bros firstly, that's not a double bottom,
Price made new lower low.
The only fact here, is there was divergence as indicated on your stochastic.

Anyway, happy pipping.

Regards,
EF

Alright....

Excerpt from Quora

Is forex essentially gambling?

Forex is not gambling at all. The definition of Gambling: Gambling is the wagering of money or something of material value (referred to as "the stakes" on an event with an uncertain outcome with the primary intent of winning additional money and/or material goods. Gambling thus requires three elements be present: consideration, chance and prize.

In Forex, we are investing our money into an event with certain outcome with the primary intent of winning additional money. And this can happen and work with numerous technical analysis or fundamental analysis.

To me

Gambling is like tossing a coin where we expect a 50/50 chance of getting a head or tail.

The last time I checked, I can control my Risk in forex even during uncertainties. In gambling whatsoever, u have no control over ur risk, once u r in, u r all in..... Forex is a game of probabilities backd up with predictive environments...... cheers

I am falling in love with forex....my nugget for this relationship...
1. Be patient
2. Analyse
3. Plan
4. Execute

Capitals:

Yep, that's how I will play

And that is how the trade worked out with risk brought down to BE after trade went over 120 pts below entry. I ll move on to other pairs now. Good luck to the trades. All that's left is to adjust sl lower till TP or SL is hit

Edd1e:
Excerpt from Quora

Is forex essentially gambling?

Forex is not gambling at all. The definition of Gambling: Gambling is the wagering of ........

Thanks for clearing the air Sir,
These best pretty sum everything up.
So Mr Gambler, no much sugar coated explanation, this right here is hardcore differentiation.
If you still feel you can gamble in forex well I only know one road it's leads and your ain't going to like it.

Hope you have been convinced enough and not confused.

Regards,
EF

@ Edd1e

I remain flat on the ground until you ask me to get up. YOU SAID IT ALL,,,,for me forex is not gamble at all but a calculated risk

my last call here was EUR.AUD,,,, was on bearish that day but with price candle BULL pattern show horn the sign to take the calculated risk... i gave the call to BUY but to close only if that day low taken out. which is about 30pips to my entry point. guess what,,, up till now the low is yet to be breach despite the volatility of the friday NFP. unfortunately i closed the trade with 2 pips. yet the pair continuing shoting up

Lol different terminologies with a unified meaning... even the casino roulette player believes he is taking a calculated risk...ironically those guys makes the best and profitable forex traders.
forex charts and price movement consists of a deterministic and a random component.

Its this random component called white noise you cant be sure of and which makes trade decisions to be based on a gamble.

jorel1:
Lol different terminologies with a unified meaning... even the casino roulette player believes he is taking a calculated risk...ironically those guys makes the best and profitable forex traders.

Okay Bros,
You Won, You caught us, We are gamblers.
Now can we rest now?
It's obvious you are not a trader, so explaining anything to you would still amount to nothing.
So let drop the subject and go to Vegas, Okay?

Regards,
EF

^

Feshizzy:


Okay Bros,
You Won, You caught us, We are gamblers.
Now can we rest now?
It's obvious you are not a trader, so explaining anything to you would still amount to nothing.
So let's drop the subject and go to Vegas, Okay?

Regards,
EF

another terminology I am not a trader actually , but a gambler.. and I am very good at it ...

jorel1:


another terminology I am not a trader actually , but a gambler.. and I am very good at it ...

Its relative bro(not entirely the same). but all the same

d guys dat quoted my last post here sure got comprehension issues. well u are on a long tin if u don't have d holygrail. I can't settle for less. thank God I got mine . will sure bounce back someday.

what do u call a strategy dat earns money whether news or not & ranging or not? & consistently earns money daily (not necessarily entry new trade ) with d smallest RR 1:2 ? & a backtest of over 100 years showing same performance & continue so till date. dis is what I wanted to expose to a trader here. hoping Ogboraph recover soon

Tom29i:
d guys dat quoted my last post here sure got comprehension issues. well u are on a long tin if u don't have d holygrail. I can't settle for less. thank God I got mine . will sure bounce back someday.

what do u call a strategy dat earns money whether news or not & ranging or not? & consistently earns money daily (not necessarily entry new trade ) with d smallest RR 1:2 ? & a backtest of over 100 years showing same performance & continue so till date. dis is what I wanted to expose to a trader here. hoping Ogboraph recover soon

Come back when you have live results.

No offence but this is all PR nonsense,

I was starting to believe you until you mentioned the news, like really the news, have you seen the news spike before, like seriously news spikes, I mean spiking NEWS.

If you got the holy grail, how come you still allowed your mentor trade for you?

Sir you got points but not valid enough,
Simplicity still remain paramount,
I'm not trying to convince anyone here, just my humble opinion

Best of luck on your comeback, who knows you just might be the one.

Regards,
EF

Hmmmm awon boiz
Arguing about gamble when marker is printing dollars

But talking about gamble sha
I want to gamble with 25 pips
Buy the dragon
25 pips stop loss...
Let's watch n see..

@forex24 or who care to trade commodities

if you would like to take a calculated risk , now is the time to enter US crude oil MAY 16

BUY NOW AT 35.53 sl 120PIPS. PLS CLOSE THE TRADE ONCE IT BREACHED TODAY LOW give room for extra 10pips

TP OPEN or manually close as your system tell you

Capitals:


And that is how the trade worked out with risk brought down to BE after trade went over 120 pts below entry. I ll move on to other pairs now. Good luck to the trades. All that's left is to adjust sl lower till TP or SL is hit

Finally learnt how to edit points on my chart. CHFJPY as it stands. MAY consider EurNzd next, watching...

sweetmaris:
Hmmmm awon boiz
Arguing about gamble when marker is printing dollars

But talking about gamble sha
I want to gamble with 25 pips
Buy the dragon
25 pips stop loss...
Let's watch n see..

Took my first 30 pips
70 to go for today
I still dey observe sha

if you follow took the calculated risk on US crude we are 130pips positive already,,,, let do the needful by moving the SL to safe-heaven ... don't rush to close the trade now until 2pm before we re-assess to close or not but for now nothing to lose