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Originally Posted by Houssam
Dear David....
thanks alot for answering me i didn't excpect it this soon it really shows how much you are willing to he traders keep up the good works...
i needed to ask you something's if you don't mind :
1-if the market was ranging on all time frames like today the market of the eur/usd was ranging on all time frames how can i know when is it going to trend like what happened on the 30 minutes chart can this be predictable.
2-what was your excpectations today for this market.
3- imade 134 pips today going long on the 30 minutes chart of the eur/usd
but hounstly i did excpect it to go long but i didn't excpect all this pips i stayed long without knowing why can you explain if this was wrong or right and why?
and thanks alot again
Houssam
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Hi Houssam,
Thank you for your comment. I have answered your questions below in the order recieved:
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1-if the market was ranging on all time frames like today the market of the eur/usd was ranging on all time frames how can i know when is it going to trend like what happened on the 30 minutes chart can this be predictable.
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There is unfortunately not a simple answer that I can give to the above question. This is what learning to trade is all about and it takes a lot of study and work to get a feel for when the market may stay in a range and when it may start to trend. I designed the
free trading basics course to try and help traders such as yourself learn how to do this so I recommend going through all the lessons there in detail as that is in my opinion the framework.
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2-what was your excpectations today for this market.
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I am flattered that you would like to know my opinion but generally I do not give trade guidance as I have found that people often misinterpret this or place way too much weight on my guidance. Then when they lose money they blame me instead of themselves. I see my role here as giving people a basic framework of knowledge and then filtering out the main themes in the market by posting what I consider good analysis on the homepage of the site. This is what you will see to the right of my blog and there is lots information there from people that I respect on where they think the markets are heading so I would recommend starting there.
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3- imade 134 pips today going long on the 30 minutes chart of the eur/usd but hounstly i did excpect it to go long but i didn't excpect all this pips i stayed long without knowing why can you explain if this was wrong or right and why?
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I think most traders would agree that anytime someone enters the market without knowing why and then stays in a trade without knowing why they are in the trade this is a recipe for failure. From my experience successful traders always have a plan for how they plan to enter the market, what they plan on doing while they are in a trade, and how they plan to exit that same trade before getting into a trade. Helping traders develop these plans for themselves is another goal of the basics of trading course and specificually the lesson here on
The 20 Components of a Successful Trading Plan.
For more on developing trading plans I also recomend checking out
Simon's blog. Simon is a trader who specializes in helping people develop trading plans.
Hope that helps.
Best Regards,
Dave