Sackie's Wild World of FOREX

Precisely what I have learnt and the reasoning behind it was explained to me in depth. Then I went on to examine this on charts and you can spot it almost every time if you know what to look for. Logically it also makes sense. The big money ie institutional buyers and very large traders will want to buy wholesale from the retail traders on the way down. Or sell into the frenzy at higher prices on the way up. It is so interesting to see the bars of no demand at the very top. usually the small bars almost at the very top of the peak with very low volume. You know then its time to crash. You mentioned you like to look at volume and I've been trained to look at volume too for specific patterns at key points. Even though FX doesn't have centralized volume I do find that a large enough broker's volume will be representative enough.

 

I mostly look at the 4h for the larger bias, then trade off the 1h. Or, look at the daily for the larger bias and trade of the 4h. I think catching a medium to large swing suits my personality. Usually ill hold for anywhere between 1 to 10 days.

Its great to hear your fan of price action too. So many people are slaves to indicators etc. Its just doesn't make sense once you understand market structure and what really moves markets.

 

Hi Sackie, where is the best place to get started if i want to start learning about forex trading. It seems quite interesting to me but i guess i have to start from somewhere to grab the basics.

 

I like both types of candles, really!

 

Hi Sackie,

Just a quick shout out to say how much your advice has helped steer me to the right starting place for trading education. I was overwhelmed with the sheer range of things to learn, but on your guidance have been focusing on Price Action, Supply and Demand Zones, the 4H chart for identifying areas of value, and the 1H for entry trigger, which is working well. Now one month of trading a small live account and profitable.

Cheers
Happy trading.

 

Sackie? Where art thou?

 

Nah, he is so busy making money that he hasn’t got time to post on PC

 

Don’t think the candles did it.

He was going gang busters there for a while. Then nothing. Not in character. Sure , if I disappeared like that you’d think I got locked up or kidnapped.

 

Did @Sackie worked in the “turf” (grass/weed) industry?

 

So I’m thinking either Randwick races or Long Bay.

 

The way I read it was as optimistic people take more risks he may have been worried that some people who read his posts may have invested on his success and become overconfident about the odds ..happens to everyone at some time in your life and I hope he is ok as if he followed that pattern then he's would have done very well even in after tax dollars..imho..

 

@Sackie is doing very well, from a heath, family, property, trading, ... perspective.

I am in regular communication with him. This week on Monday and Tuesday.

He is truly very busy. I have made him aware that he is missed on PC. I do not know when he will have time to start posting again.

 

Maybe he’ll come back with another new user name...

 

Maybe he already has!

 

I don’t believe so.

I do know that he found some of the negative threads distracting and disturbing. Ones like the “I/O Cliff”, “Property Prices Falling 40%“, ...

I regularly told him that such items were absolute cow manure but, as we all know, if someone throws enough manure, there is a danger that some of it could stick.

As some of you are aware, he has a very positive mindset (bit like me ) but, in scary times like we are now in, negativity can derail the best of us.

He also has well-defined life goals and a detailed plan of how to achieve them (something I am a big believer in).

I just keep telling him to stay strong, to stay positive, to stay focused, ... I believe his break away from PC is one of his action items to do that.

I also told him that it is a lot easier for an “old fart” like me to stay the course as I am in retirement/pension phase. He is half my age and in accumulation phase. He knows I have been through tough times, that we will get through this, there is a golden age on the other side, ...

I know that the above is easier to say but a lot harder to do. One of the few advantages of experience/old age .

Unfortunately PC is the poorer for his absence .

I have a lot to learn from him and do appreciate that we are in regular contact.

Looking forward to the day he returns from his self-imposed PC “isolation”

 

Maybe like me he loses the motivation to keep up with some posters or others on this forum (especially when some of our posts get deleted - maybe not his though?) and directs his efforts elsewhere - after all we all have 24 hours each day.
Negative thoughts enslave most of us from time to time....so we choose to disengage from crap from others, silly technology or even our own self-defeating thoughts!
As our mentor JR said,

And his student Tony Robbins said it well too:
“My teacher Jim Rohn taught me a simple principle: every day, stand guard at the door of your mind, and you alone decide what thoughts and beliefs you let into your life. For they will shape whether you feel rich or poor, cursed or blessed.”
Top Results Academy explained that in detail and extremely well.
If interested you can explore more (not advertisement rather access to personal development):
Protect The Mind. Part 1 - Stand Guard At The Door Of Your Mind
So sometimes I too just need to switch off from certain things that may negatively feed my mind, we are only human after all.
Keep up your dreams and persevere @Sackie, whatever it is as it too shall pass.
And remember what most people in hospice care said, "I wish I did not constantly worry so much in my life!".