rchi .. ah seng gor is like having period today !! hormonal imbalance leads to emo instability .. up down up down like roller coaster :)

eh hawk ... the peak now at 21452 ?? hmmmm

good morning stingray .. thumbs-up advice !! eh, u sound like my mentor rolfie :) yes thank goodness 2016 is coming to an end cuz ALL traders wannabe shud learn to be a LEADER and not be led blindly in 2017 ! merry xmas to u and family
p/s - stingray, i have some questions to ask ya !! is it okay ???

good morning profitman ... i told santa what i want this year :) that profitman visits me more often at cc cafe !! merry xmas and jolly new year

we may want her to exhibit these 3 criteria before even considering long unless we want to be aggressive with a tight stop loss !!

http://invst.ly/2zgze

bo .. i think hawk is right !! robert also says the 3 cardinal ew rules are MOST RELEVANT to daily CLOSING data .. which means we shud ignore the wicks ... so, line charts will give us a clearer pic :)

bo .. on 15m u can see 20ma is resisting !!! if we count waves, don't rule out another lapse of w5 meaning now is just w4 rally ... and 1H (this is normally used as HTF trend for day-trade) is still below 20ma and is still within the wave channel ... thus, try to adopt a more conservative approach

bye rchi ... yes u deserve one good celebration !! thanks so much for always sharing with us dear :)

hahaha rchi .. the two titans again ?? :) margin of safety versus golden rule !! okay mah the golden rule sounds like momentum play with a twist of good consecutive 3 QR ???

then the cbbc report tells one part of the story and not the other part ??? hmmmm ... veli the complicated :)

oh i see rchi ... yes, have heard of options but they trade mainly futures !! so, there may be hsif warrants / options / futures .. the market is so so big .. how come our buddy stingray just follows movement of warrants bot / sold by mm to gauge market movement ?

fumehell (wah what a nic??? LOL) .. been wanting to do this long ago but still have not bot one yet !

Posted by fumehell > Dec 22, 2016 03:10 PM | Report Abuse
Leng lui connie go buy a monitor and plug it into your laptop so that you will have 2 screens side by side.

rchi .. may i ask if all these macq warrants are sold worldwide ?? not just in bursa right ?? don't hear those gweilo traders talking about warrants geh ??? btw rchi .. your timing so cun why u no consider cfd ?? but i still don't quite comprehend the spread / margin part .. huhuhu

understood hawk :) no right no wrong ... most importantly suits one's trading stylo !

wah rchi .. suddenly so active in hsif :) ter-addicted ???

noted with thanks hawk ... but i don't dare to do so with warrants :( in any case, i have been brainwashed NOT to pick top or bottom !! LOL

congrats rchi .. santa named ah seng has just given u a present :)

hawkkk .. but i want to ask u somethin' .. if u trade based on HTF trend (since u use wave !!) and are willing to hold your trades, then how come u don't wait patiently for WAVE 5 upleg to unfold first ??? is it NOT risky to keep on averaging down when WAVE 4 is still progressing cuz this bloody wave can turn very complex (double / triple) and then the time decay factor blah blah blah ???

no bo .. what i meant is that the RSI / MACD / AO will take up 1/2 of the chart space already ??? :( but maybe u have a 24in monitor eh ??? my laptop only 15in .. huhuhu

bo ... just to share what robert miner says :-

1) what is the MOST PROBABLE pattern ? impulsive or corrective ? and the answer may also be 'don't know'

2) what market activity will CONFIRM the assumed pattern ?

3) what market activity will INVALIDATE the assumed pattern ?

4) be quick to admit when there is no relevant pattern. do NOT force ew count where there is none

5) if there is no discernable count, does the pattern appear impulsive or corrective ?

6) as new data is made, market will continually confirm / invalidate the pattern ... BE QUICK TO CHANGE YOUR ASSUMPTION OF THE PATTERN if the market activity INVALIDATES the current assumption

bo ... esp if we use waves to gauge direction, we MUST have an alternate count !! if we only have ONE direction, we may become too bias ... remember trade the market and not our forecast :(

wah bo .. u lagi terrer than ah con :):):) too many indicators don't u think ??? occupying too much space on your charts already ... end of the day, most importantly is the PRICE ACTIONS no ??

but if u trade on daily chart, your stop loss will be wider .. in this case, u have to buy less shares if u want to cap your risk say just 1% of capital :(

basically .. justin is NOT a day-trader and he advocates longer time frame trades :)

bonarda ... me too sometimes :(:(:( this dude trades 4H chart ... every time when someone asks him 'errr entry now??' and he said 'nope .. 4H candle not closed yet' .. or 'nope ... breakout candle not convincing enuf'

and he also says this :)

Always Consider Outside Forces
As a technical trader, I rely on key levels to make my decisions. Whether it’s a simple horizontal support or resistance or the neckline of a head and shoulders pattern, everything I do depends on specific levels in the market.

However, I’m also always aware of what’s happening outside of the technical world.

Don’t get me wrong. I never try to figure out what the Fed might do or formulate a trade idea based on non-farm payroll or any other market-moving event.

To be succinct – I NEVER trade the news.

Those who do attempt to front-run these events are, in my opinion, gambling their money away.

With that said, I’m always aware of what news is coming out and when as well as its potential impact on the market. I take care to consider these things and incorporate them into my technical approach.

As long as you stay aware of what’s coming up on the calendar as well as key levels on the chart, you’re in a much better position to reduce trading losses.

hmmm read something interesting .. esp for some buddies who are like ah con looking at 1H for trend and 5M for entry to day-trade !!! here is justin's tots who is against using LTF to trade cuz he is a HTF trend trader ... he trades based on DAILY TIME FRAME and he gives 4 reasons why :-
1) It slows you down, allowing you to think through your decisions
Just as there’s no way to fast track success, there’s also no way to rush into positions and have a realistic expectation that things will go your way. The daily chart gives you the necessary time to analyze the market, develop a plan and execute it without feeling rushed.

2) Greater liquidity means better quality
Each candle on your chart represents a separate market filled with buyers and sellers all fighting for a desired price point.
Now, which candle, or market, has the greater liquidity – a 5-minute candle or a daily candle? The answer is clear. A daily candle has far more activity throughout the day and thus tends to perform better when it comes to technical analysis.

3) The trend is your ATM
Big money isn’t made in a sideways market. It’s made during a trending market.

4) Filters out the noise
By sticking to a higher time frame such as the daily, you can avoid much of the day-to-day volatility. In a way, it acts as a natural filter.
For example, let’s assume for a moment that you’ve shorted the EURUSD on the 5-minute chart with a 15 pip stop.
All of a sudden, a Fed member gives an impromptu speech causing the US dollar to plummet. The EURUSD rallies 25 pips, taking you out for a loss. If you had been trading from the daily time frame, your stop loss would likely be at least 50 pips away from your entry. So in the event the pair temporarily spiked 25 pips, you’d still be in the trade and the prospect of a win would still be alive and well.

abangadik .. u are right !!! he is MR MARKET :)

stingray .. thanks for dropping in to give your valuable advice :) appreciate it greatly !

oh yes evel .. let's see how she wants to dance later !! if trading on HTF like daily, then it's pretty clear cut the direction is pointing south .. rchi is an excellent trend trader :)

abangadik .. noted with thanks on eko !!

evel ... been aiming for a counter-trend rally and so did not buy rchi's h=huat :(:(:(

datukkkk .. don't lah only talk in telegram :(:(

abangadik .. is it becuz of bonus issue ??

bonarda .. yes rolf from tradeciety always talks about fakeouts and amateur traders entering too early !!! geram lah me .. i don't want to be labeled amateur :(:(:(:(

jact5796 .. those are wave channels !! if u don't read waves, ps use BB to gauge momentum ... u may use rsi also instead of AO but this bugger is good when we count waves :)

but i hope ALL buddies will make $$$$$$$ ... later C holders LOL :)

evel .. congrats :) so many rounds with our richie rchi eh ??

ya man ... missed again :(:(:( but it's okay, am ecstatically happy for ya :):):)

LOL bonarda .. love n hate relationship with ah seng gor :)

thanks goody .. abangadik also highlighted earlier :)

hawk .. alternative count is now processing v of 3 on 1H !! in this case, u need another lorry later to load up :):) then don't know how strong the counter-trend rally is on 4 before 5 downleg takes over .. if this is the scenario, u may bid farewell to WAVE 5 UPLEG cuz hsif is probably on larger degree ABC (errr like genting ....) can u rule out this scenario ?? oopsi

http://invst.ly/2zfmp

rchiiiiiiiii .. congrats on your H :) i chicken no dare to enter !!

noted hawk ... won't be surprised there will be a fakeout ie pushed it down till the channel mid-line (an irregular flat whereby b goes beyond extreme of a) cuz everybody is looking at 21660 support !! the +D is getting stronger on 1H which is interesting :) i was waiting for a signal on 1H ie price to go above 20ma and then retests before taking off on c .. unfortunately has not happened yet !! note also that 50ma has been the dynamic resistance ... 3rd attempt to resist now and thus let's see if there is a breakthrough after the fakeout :)


http://invst.ly/2zflm

thanks hawk :) hawk, may i ask why u don't trade hsif cfd ?

hi bo ... i wonder if non-listed means we can't see the CFD contracts !! if this is the case, cbbc may not paint a clear pic on bull/bear contract UNLESS cbbc quantum is much more compared to that of cfd !!

on KCT, i printed out from EW International eCourse Book on slideshare ... it's called 'The Ultimate Technical Analysis Handbook' !

bo, ps also read 'Practical EW Trading Strategies' by robert miner, dynamic traders group (i told twobits before) .. it's really an eye-opener :) this is NOT the ew textbook stuff ...

hawk .. becuz i day-trade, i monitor the channel on 1H as my direction for trend !! yellow is elliott channel that helps estimate wave 5 terminus point (connect waves 2 & 4 and extend parallel line to 3) .. and the +D on AO between waves 3 and 5 is also classic ew pattern :) also between sub-waves iii and v there is a +D .. don't think my labeling violates any ew rules / guidelines !!

http://invst.ly/2z7a7

noted with thanks hawk !

oh hawk .. i re-look at your chart !! so, your 4th has not completed .. now processing iv (rebound) of 4th ??? this explains then the current sub-structure pattern is corrective ??? hehehe

hawk .. or your 4th is turning into a complex correction ?? now unfolding another A (processing now) B (down) C (up) pattern ... cuz fundamentally, is there anything to excite market to unfold 5th impulsive ??? hmmmm, mind-boggling :)

hawk .. which means those sub-structure pattern on 5M that makes up the 1H first upleg does not have impulsive characteristics !!!