20 Pips a day keeps centerlink away
Another Day, Another Chair, Another Day in the Office 198 replies
another day another challenge. indicatorCounted() 6 replies
Is FX just another bogus "get-rich-quick" scam ?? 1 reply
blew out another account...Just venting... 55 replies
Okay, did a another insurance company buy another couple hundred million EUR?? 23 replies
DislikedOnly 18 minutes after seemingly very good employment data and after a spike up A/U is back testing the day's lows. Very suggestive that more downward action is coming in short term.Ignored
Disliked{quote} Spike up, spike down, now price back up near the top of the spike higher. What's your thought now? No follow through on any selling. Perhaps just ranging or slightly bullish?Ignored
DislikedThe spike up we had after news went to .766 on pretty big volume, then as dab noted earlier, quickly dropped back. But the PA since has generally risen towards the peak of the spike. It seems to me that it is likely that an institutional buyer filled a large order and ate shorts when the news came out. Then backed off and let the drop occur before coming back in to buy up gradually. Oil is currently down 1.2% for the day, iron ore down 1.57 % for the day, copper down .64%, gold .99%, silver 1.59%. The USD up against Yen, EUR and CAD. AUD/USD not...Ignored
Disliked{quote} Looks like your long has paid off as we just reached .7700 again. Great job! Once again, trading with the trend proves to put the odds in your favor of having a winning trade. Which is the basis of my whole method. Can you make pips trading both directions? Yes, of course. But if you're struggling just to be a profitable trader...try just trading with the trend at first. Happy Trading!Ignored
Disliked{quote} Looks like your long has paid off as we just reached .7700 again. Great job! Once again, trading with the trend proves to put the odds in your favor of having a winning trade. Which is the basis of my whole method. Can you make pips trading both directions? Yes, of course. But if you're struggling just to be a profitable trader...try just trading with the trend at first. Happy Trading!Ignored
Disliked{quote} Yeah, but the trend is down. That small spike we are looking at right now is a bump on a monthly chart.Ignored
Disliked{quote} I'm not talking about the monthly, I've said numerous times on here we have been trending up on the Daily chart since mid January. Please go back and read the thread again.Ignored
Disliked{quote} So how can you say the trend is up ONLY on daily and don't care about monthly charts?Ignored
DislikedThe spike up we had after news went to .766 on pretty big volume, then as dab noted earlier, quickly dropped back. But the PA since has generally risen towards the peak of the spike. It seems to me that it is likely that an institutional buyer filled a large order and ate shorts when the news came out. Then backed off and let the drop occur before coming back in to buy up gradually. Oil is currently down 1.2% for the day, iron ore down 1.57 % for the day, copper down .64%, gold .99%, silver 1.59%. The USD up against Yen, EUR and CAD. AUD/USD not...Ignored
Disliked{quote} Because I'm a day trader who trades on the 1hr charts and using the 4hr and Daily charts as reference for trends/support/resistance areas. Monthly charts don't mean much to me. Now if I was a position trader I would use monthly charts...but I'm not a position trader. Nor am I a swing trader, which they might use monthly charts. Make more sense?Ignored
Disliked{quote} I'm a day trader myself on some systems, so that's why I was puzzled by your remark that you only care about the day trend and don't go on higher time frames.Ignored
Disliked{quote} So buy your own admission...you follow the monthly chart with a downtrend. And as a day trader you have been shorting Aussie for months now? Been shorting it since it was under .7000??? I can't see that being good for your account. Really my point is, as a day trader you have to draw the line somewhere on timeframes to use. And imho, the monthly is just way too high of a chart to use if you are truly a day trader just looking for 30-50pips/day.Ignored