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  • Trade Setup for the Day: Short EUR/USD (February 25, 2013)

    From tradersway.com

    EUR/USD consolidated around the 1.3150 and 1.3200 major and minor psychological support levels at the end of last week and continues to move sideways in that area today. The downtrend on the 1-hour time frame is still intact and suggests a potential continuation of the selloff. Take note that EUR/USD is currently trading below the 1.3300 major psychological support level and bottom of the longer-term trend line. After breaking below this support zone, a reversal of the previous uptrend could be in the works. Stochastic is neither in the oversold or overbought territory though, which means that traders are still ... (full story)

There are many things in the world I find baffling not the least of which is why a market almost always moves in the opposite direction of the predicted direction. Can anyone explain?!!?
this is just one-sided argument, I think EUR/USD may test 1.3280 today and close higher than last Friday's close. My initial analysis was EUR/USD opening the new week at 1.3144..but that never happened so upward momentum is in cards...
There is always a price for promises you don't keep!
Quoting kckates
There are many things in the world I find baffling not the least of which is why a market almost always moves in the opposite direction of the predicted direction. Can anyone explain?!!?
kckates,

Imagined that you were the one with billions of dollars; in order to get more people to SELL or BUY from you is to go against the masses and wipe them clean to make a profit. Don't follow the analysts, there are jokers or false prophets who just make neutral statements about the direction of the market. No matter what happens, markets will always go up and down.

DF
There is always a price for promises you don't keep!
Euro got 3 down weeks in a row, its just obvious that one should expect some temporary reversal, at least on the 4hr and 1H chart?????

Tradersway came too late onto the scene!!!
  •  Guest
  • | IP XXX.XX.78.153
The 1.3300 "pysch" level he mentions is about to turn into support! hahahaha
fake signal from you...
  •  Guest
  • | IP XX.XXX.242.227
That was a nice suggestion!

I hope none took it serious. I laughed at it when reading!

Whoever writes this garbage obviously doesn't look at the 4hr or daily candle chart.
Seems guys you did not read the full article before commenting. "Shorting at 1.3300 with a 100-pip stop and a profit target at 1.3200 or the previous lows would be roughly a 1:1 trade."
"continuation of selloff". What a joke! Euro retraced and gapped back up
Patience is magic
Euro retraced exactly to the mentioned level of 1.33 and now going down again. "Shorting at 1.3300 with a 100-pip stop and a profit target at 1.3200 or the previous lows would be roughly a 1:1 trade." Following my assumption you would have already made around 50 pips.
Already 60 pips.
And now 70 pips.
80 pips
And 90 pips now
Quoting Muntu
"continuation of selloff". What a joke! Euro retraced and gapped back up
2Muntu

Nice joke,right?
Quoting GDR3k
Whoever writes this garbage obviously doesn't look at the 4hr or daily candle chart.
With this "garbage" you would made 90 pips by now.
Quoting wahyudi.lb
fake signal from you...
The signal was 100% right
Quoting Guest
The 1.3300 "pysch" level he mentions is about to turn into support! hahahaha
Are you still laughing?
Quoting Bakker
Euro got 3 down weeks in a row, its just obvious that one should expect some temporary reversal, at least on the 4hr and 1H chart?????

Tradersway came too late onto the scene!!!
Tradersway is making money. Already more than 100 pips on this deal.
Quoting kckates
There are many things in the world I find baffling not the least of which is why a market almost always moves in the opposite direction of the predicted direction. Can anyone explain?!!?
Hope now you understand.
Ok, laughing and mocking guys, I've made my 110 pips on my signal. What about you?
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Quoting katetrades
Ok, laughing and mocking guys, I've made my 110 pips on my signal. What about you?
730 pips this month and counting. one signal alone doesnt prove anything. Constant success is the key.
Nice signal, 108 pips...both ways...good suggestion i guess....
Very good forecast for today, long 1.3200-1.3300 than short 1.3300-1.3200, take 180 pips profit today
  •  Guest
  • | IP XXX.XX.78.153
Going to be a nasty Daily pinbar candle if it closes around here. I will switch to a bear if that happens.
hohoh I shorted 1.32993 exactly took a 80 pip profit at the asian session high but we are reversing today I think first we have to trigger all the shorts below 1.3140
  •  Guest
  • | IP XXX.XX.78.153
Quoting katetrades
Are you still laughing?
Not sure why my comment was deleted before...but to answer your question, no. I was wrong with my analysis. Took my loss, will move on to the next trade.
36 pips drop in no second???
stops hunting???
in Atalian election Pro Reform coalation is in lead! why Euro is going South?
You didn't take that trade did you? seriously!
Patience is magic
Do you still think it was a joke? seriously!
Quoting katetrades
Do you still think it was a joke? seriously!
katetrades, you misinterpret my comment. What I actually said is that Tradersway tip was so obvious that everyone who got some sense should agree that this was the right thing to do. Retracement up and some consolidation and down again. Look back on my comments, I maintain the stance that Euro is going to have a DOWN year.
Quoting kckates
There are many things in the world I find baffling not the least of which is why a market almost always moves in the opposite direction of the predicted direction. Can anyone explain?!!?
In essence there is a 50% chance of the market going long and a 50% chance of the market going short. However when the market starts to move either long or short there is a greater probability that it will continue to move in that direction. However what people do is close their winning positions when the greater probaility is that the position will continue to give greater profits and leaves their losing positions open with the greater probaility that their lossess will increase.

Hence the old adage 'let your profits run and cut your losers quickly'.

No one ever remembers the small winners yet accounts can be blown by big losers which almost certainly will be remembered.

I hope this helps explain the perceived phenomenon.
Quoting Bakker
katetrades, you misinterpret my comment. What I actually said is that Tradersway tip was so obvious that everyone who got some sense should agree that this was the right thing to do. Retracement up and some consolidation and down again. Look back on my comments, I maintain the stance that Euro is going to have a DOWN year.
Yes, Bakker, you are right, misunderstanding.
Quoting ChristopherM
In essence there is a 50% chance of the market going long and a 50% chance of the market going short. However when the market starts to move either long or short there is a greater probability that it will continue to move in that direction. However what people do is close their winning positions when the greater probaility is that the position will continue to give greater profits and leaves their losing positions open with the greater probaility that their lossess will increase.

Hence the old adage 'let your profits run and cut your losers...
Yes, main point here is psychology.
Seriously, you won it today, no discussion. Well done! I agree I was unable to read such a jerky market, and was waiting for it to settle down tomorrow, while profiting from gold rally.
Chapeau, Sir!
Patience is magic
"By Kate Curtis"
Anyway thanks!
WOOOW!!!! What is the new target 4 EUR/USD?
Well I missed 200+ pips on EU today which is my best pair and 1300+ pips on some other volatile currencies if I was to take them. What an opportunity to recover 1% of my lost capital
You know, no need to worry about missed trade, always there will be another good one.
All you have to do now is wait for the first 50% retracement and short agressively. But please don't chase!
Patience is magic
I am confused. Are you teaching or showing off?


Quoting katetrades
Ok, laughing and mocking guys, I've made my 110 pips on my signal. What about you?
  •  Guest
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Quoting kckates
There are many things in the world I find baffling not the least of which is why a market almost always moves in the opposite direction of the predicted direction. Can anyone explain?!!?
Because market needs more losers and a few winners to function.
Quoting Guest
Because market needs more losers and a few winners to function.
Incorrect - by definition no one need lose in a market - any market. It is such a pity that folks come around with the idea that this is the same as gambling. A market is a place driven by exchange based on different valuations of the same article. If you understand that then you see why some of the conspiracy theories thrown about here is so much rubbish.

This is basic economics - check it out bro.

PS: That there are so many losers out there is not a justification of your theory. It merely demonstrates in the case of this market that trading skill follows a normal curve and that trading is not for everyone.
You're perfectly right Loadedgun.

I would like to add: "don't blame something- or somebody else for your incompetency"

So many people want to trade, but you need to know the behavior of the market you're involved in and that only comes with experience, unfortunately.

You also can't expect somebody to give you his trading system for free!! Unless you're prepared to make him an offer for a few $million.
How can it be that easy:

TradersWay = Trade Setup for the Day: Short EUR/USD (February 25, 2013)

Therefore: screaming BUY.
Do you ever re read your posts and think about removing the over used 'trading' cliches and handed down folklore before posting? Your posts are littered with them but I've isolated this one to highlight your extreme naivety. Try and up your game eh? It's painful to read.

Quoting Bakker

You also can't expect somebody to give you his trading system for free!! Unless you're prepared to make him an offer for a few $million.
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
Just ignore my postings pal!! Or shall I asked FF to reserve a file specific for the use of Spreadbetter.
Quoting Spreadbetter
Do you ever re read your posts and think about removing the over used 'trading' cliches and handed down folklore before posting? Your posts are littered with them but I've isolated this one to highlight your extreme naivety. Try and up your game eh? It's painful to read.
I see FF suspended you. I hope they make it permanent, because you're always in an argument with everyone. If you're struggling with the trading game ask Loadedgun for help, he's a master of the trade.
Quoting Bakker
I see FF suspended you. I hope they make it permanent, because you're always in an argument with everyone. If you're struggling with the trading game ask Loadedgun for help, he's a master of the trade.
that is going to hurt him a little too much...you shouldnt have said that ! =p
Quoting Bakker
You're perfectly right Loadedgun.

I would like to add: "don't blame something- or somebody else for your incompetency"

So many people want to trade, but you need to know the behavior of the market you're involved in and that only comes with experience, unfortunately.

You also can't expect somebody to give you his trading system for free!! Unless you're prepared to make him an offer for a few $million.
If you actually do blame only yourself for your results, in other words, if you're just fair, genuine and humble and you're truly willing to learn then somebody might, just might, give you the distill of his knowledge and experience(better than any "system") for free.

Given as facts that a)that someone is the real deal about edge and b)that you truly are and do all that then it is absolutely certain you'll give back more than a few million of fiat money. After all one who finds a friend finds a treasure
Make me a prophet and I'll make you rich. - Me
Quoting Timetraveler
After all one who finds a friend finds a treasure
I agree absolutely.
There's an '80s spaghetti comedy with Bud Spencer and Terrence Hill with that title.
A must see.
Make me a prophet and I'll make you rich. - Me
I'm intrigued as to how you can ascertain if someone is the real deal as you term it on a trading forum. I suspect the only way is results; if they want and need to prove their worth they'd have to maintain a log/blog for at least a year detailing and pin pointing exactly their time stamped trades, entries and exits. Other than that there is no other way of measuring their performance and there is a gaping hole in this industry between wafflers and doers.

Quoting Timetraveler
If you actually do blame only yourself for your results, in other words, if you're just fair, genuine and humble and you're truly willing to learn then somebody might, just might, give you the distill of his knowledge and experience(better than any "system") for free.

Given as facts that a)that someone is the real deal about edge and b)that you truly are and do all that then it is absolutely certain you'll give back more than a few million of fiat money. After all one who finds a friend finds a treasure
Lets see what Ben has to say tonight. As usual, Ben's speech has bearish effect most of the time but ill test bull on gold and silver tonight.

Q'ed Silver || long :at 29.30. T/P :30.40 || short : 28.40 T/P : 27.86
Q'ed Gold || long : at 1605. T/P : 1648. || short : 1550. T/P : 1525

Technical day trader for life. However, Ben, FOMC, Mario and ECB are not to be messed with.

Good Luck all.
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  • Posted: Feb 25, 2013 3:04am
  • Submitted by:
     katetrades
    Category: Technical Analysis
    Comments: 57  /  Views: 7,897