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  • Bernanke: The Economic Outlook

    From federalreserve.gov

    Economic growth has continued at a moderate pace so far this year. Real gross domestic product (GDP) is estimated to have risen at an annual rate of 2-1/2 percent in the first quarter after increasing 1-3/4 percent during 2012. Economic growth in the first quarter was supported by continued expansion in demand by U.S. households and businesses, which more than offset the drag from declines in government spending, especially defense spending. Conditions in the job market have shown some improvement recently. The unemployment rate, at 7.5 percent in April, has declined more than 1/2 percentage point since last summer. ... (full story)

  • #1
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  • May 22, 2013 10:03am May 22, 2013 10:03am
and then, what ?
  • #2
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  • May 22, 2013 10:04am May 22, 2013 10:04am
And buy USD pair.
  • #3
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  • May 22, 2013 10:05am May 22, 2013 10:05am
just sharing my view
i feel gold and silver will fall just a view
  • #4
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  • May 22, 2013 10:06am May 22, 2013 10:06am
asusual usd down ,euro up ?
  • #5
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  • May 22, 2013 10:06am May 22, 2013 10:06am
It seems that USD is weakening now.
  • #6
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  • May 22, 2013 10:06am May 22, 2013 10:06am
So he is saying that EUR will strengthen and that will help USD to improve?
  • #7
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  • May 22, 2013 10:08am May 22, 2013 10:08am
At the time this clown opens his stupid mouth all the movements are done. He has no fu*king time to say anything except "hello".

Forex is a pathetic joke.
Use me as a contrarian indicator
  • #8
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  • May 22, 2013 10:14am May 22, 2013 10:14am
Quoting mrbandwidth
At the time this clown opens his stupid mouth all the movements are done. He has no fu*king time to say anything except "hello".

Forex is a pathetic joke.
HAHA spot on
  • #9
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  • May 22, 2013 10:15am May 22, 2013 10:15am
1420 sl sell sell sell gold
22.40 sl sell sell sell silver keep strict sl and trade
big fall on cards
look at my old call sell given at 1459 and tgt was 100$ hit our tgt chk my old post
  • #10
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  • May 22, 2013 10:21am May 22, 2013 10:21am
  •  Trader#009B
  • | Status: Unregistered Trader
it's only pathetic when you're at the wrong end
  • #11
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  • May 22, 2013 10:24am May 22, 2013 10:24am
it's time buy usd jpy
  • #12
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  • May 22, 2013 10:29am May 22, 2013 10:29am
Quoting sheety
1420 sl sell sell sell gold
22.40 sl sell sell sell silver keep strict sl and trade
big fall on cards
look at my old call sell given at 1459 and tgt was 100$ hit our tgt chk my old post
thanks your comment i sell 1407 now get profit
  • #13
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  • May 22, 2013 10:30am May 22, 2013 10:30am
Quoting mrbandwidth
At the time this clown opens his stupid mouth all the movements are done. He has no fu*king time to say anything except "hello".

Forex is a pathetic joke.

If it´s a pathetic joke, then start doing something else!
  • #14
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  • May 22, 2013 10:31am May 22, 2013 10:31am
Meanwhile the charts indicated a clear spike in gold and the Euro before the dude opened his mouth so who is to blame if anyone got the move wrong?
  • #15
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  • May 22, 2013 10:32am May 22, 2013 10:32am
forex is full of shit.........loss los los
  • #16
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  • May 22, 2013 10:33am May 22, 2013 10:33am
Business as usual... Treacherous as the sea
  • #17
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  • May 22, 2013 10:35am May 22, 2013 10:35am
Loss after loss after loss after loss. Every trade is a loss. I mean not 1 win and 2 or 3 losses. I got like 20 losses in a row. Time to quit forex. Damn, what a bastard.
  • #18
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  • May 22, 2013 10:35am May 22, 2013 10:35am
whenever Bernanke is up, you should keep out of the market.

Simples.
  • #19
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  • May 22, 2013 10:36am May 22, 2013 10:36am
Pity those traders who shorted in .28xx area and got stop out and re-long at .298x areas - it must be raelly painful.......

Good luck to trading traders.............
  • #20
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  • May 22, 2013 10:36am May 22, 2013 10:36am
  •  Trader#4B79
  • | Status: Unregistered Trader
LOL......................

market is sooooooo funny today.
so the movement north was jes a trap for traders
  • #21
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  • May 22, 2013 10:37am May 22, 2013 10:37am
God, how i hate this stuff. When my longs almost entered in green area - BANG! - into even greater red than before Bernanke's speach. The account is gone and so am i with forex. Too bad, i liked it.
  • #22
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  • May 22, 2013 10:38am May 22, 2013 10:38am
Quoting bd pips
forex is full of shit.........loss los los
having a bad day?
  • #23
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  • May 22, 2013 10:39am May 22, 2013 10:39am
Win..win..win....more fuel for my twin.
  • #24
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  • May 22, 2013 10:41am May 22, 2013 10:41am
Quoting Scientist
Business as usual... Treacherous as the sea
No way, There are more cut throats in Forex than there ever were on the high seas.

ha-ha
  • #25
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  • May 22, 2013 10:42am May 22, 2013 10:42am
Quoting Spik
God, how i hate this stuff. When my longs almost entered in green area - BANG! - into even greater red than before Bernanke's speach. The account is gone and so am i with forex. Too bad, i liked it.
Good move. It takes a determined mind to keep that promise though. But good luck.
  • #26
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  • May 22, 2013 10:43am May 22, 2013 10:43am
why would anyone actually trade Forex during a speech.. this is the time you stay on the sidelines. Unless you are a gambler, in which case there is always a chance that you lose your pants. he could say anything to make the market go one way, then say another thing to make it go the opposite way. why bother gambling your money away when you can clearly wait for about an hour and then re-evaluate.
  • #27
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  • May 22, 2013 10:44am May 22, 2013 10:44am
Quoting Loadedgun
Meanwhile the charts indicated a clear spike in gold and the Euro before the dude opened his mouth so who is to blame if anyone got the move wrong?
what do you take, LG? it ALMOST take my TP at 3005.. I long since monday, no risk as SL at BEP but this running kinda annoyingggg!
  • #28
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  • May 22, 2013 10:45am May 22, 2013 10:45am
Someone said "90% traders lose"
  • #29
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  • May 22, 2013 10:45am May 22, 2013 10:45am
Quoting Loadedgun
Good move. It takes a determined mind to keep that promise though. But good luck.
Well, thanks. After busting 3 accounts in 3 years and with them 10.950 euros, there is no more love left. More time for buddies and chicks.
  • #30
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  • May 22, 2013 10:46am May 22, 2013 10:46am
Still some more upside for the Euro - H1 is yet to hit mark though it is more or less at scale and then the dramatic drop next week. Crazy stuff but that is the way it is.
  • #31
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  • May 22, 2013 10:46am May 22, 2013 10:46am
When helicopter Ben starts to fly it's time to land. Been shot down before...some lessons are hard to learn.
  • #32
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  • May 22, 2013 10:46am May 22, 2013 10:46am
Quoting Spik
Loss after loss after loss after loss. Every trade is a loss. I mean not 1 win and 2 or 3 losses. I got like 20 losses in a row. Time to quit forex. Damn, what a bastard.
Wise decision
  • #33
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  • May 22, 2013 10:47am May 22, 2013 10:47am
  •  Trader#3C23
  • | Status: Unregistered Trader
5 in the rows loss!!!!...im quiting now..
  • #34
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  • May 22, 2013 10:48am May 22, 2013 10:48am
Quoting Spik
God, how i hate this stuff. When my longs almost entered in green area - BANG! - into even greater red than before Bernanke's speach. The account is gone and so am i with forex. Too bad, i liked it.
every trader used have a bad day like you. but true trader never give up,, i think u should no trade when big event. it's too dangerous
  • #35
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  • May 22, 2013 10:48am May 22, 2013 10:48am
Take the first sentence from each paragraph and you have the whole story. Everything between one first sentence and the next is just pompous blowing of hot air. We all know about what he says, we are living it. It is not mystery so they should just stay home and keep their mouths shut. Their braying only causes crazy unjustified market movement. At the end of the day all they did was hurt some people with violent price swings. Fortunately I wasn't one of them because I have learned to become wary of leaving trades to ride through these blow hard sessions.
  • #36
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  • May 22, 2013 10:49am May 22, 2013 10:49am
Quoting blackNwhite
what do you take, LG? it ALMOST take my TP at 3005.. I long since monday, no risk as SL at BEP but this running kinda annoyingggg!
News always comes with volatility (trading the news with .... Remember). I think we should still wait I am not sure how this is playing just yet I am on the sidelines after my trade got taken out at breakeven yesterday. It is annoying but to be expected.
  • #37
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  • May 22, 2013 10:49am May 22, 2013 10:49am
Quoting Loadedgun
Good move. It takes a determined mind to keep that promise though. But good luck.
Hi LG HRU? The move in the Market comes before he opened his Bloody mouth? Now what he is saying i mean testifying in the Senate?
  • #38
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  • May 22, 2013 10:49am May 22, 2013 10:49am
Quoting PurePrice
why would anyone actually trade Forex during a speech.. this is the time you stay on the sidelines. Unless you are a gambler, in which case there is always a chance that you lose your pants. he could say anything to make the market go one way, then say another thing to make it go the opposite way. why bother gambling your money away when you can clearly wait for about an hour and then re-evaluate.
because there are price actions .......
market is only up and down. execute the stops and we will be back to were the speech has started. from there on we can predict the direction.
  • #39
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  • May 22, 2013 10:51am May 22, 2013 10:51am
Quoting Ubais
thanks your comment i sell 1407 now get profit
enjoyy profit bro enjoyy i hope every one enjoyed the fall
we r the one who predicted gold fall 1st in the world
when gold was trading at 1682$ we r the who gave sell call for the tgt 1400$ just chk all old post s
  • #40
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  • May 22, 2013 10:53am May 22, 2013 10:53am
Quoting Loadedgun
Still some more upside for the Euro - H1 is yet to hit mark though it is more or less at scale and then the dramatic drop next week. Crazy stuff but that is the way it is.
Not too convinced of further up - retracement had hit slightly more than 50% and I've been shorting at .2956 .2968 and .2988, the first 2 were the levels I mentioned in one of the posts i humbly posted yesterday and I sticked with what I said.

Will I still buy Euro with SP and NQ at highest level, NO WAY for the moment.

My D1 long just kissed BULL but i won't trust my daily indicator for I was betting on 50% retrace and continuation of its decline- hope helpful
  • #41
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  • May 22, 2013 10:55am May 22, 2013 10:55am
But looking at it on the level no side really lost bulls and bears are about even meaning the cash that drove that volatility is out and so trend followers have the day.
  • #42
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  • May 22, 2013 10:57am May 22, 2013 10:57am
Quoting Loadedgun
Still some more upside for the Euro - H1 is yet to hit mark though it is more or less at scale and then the dramatic drop next week. Crazy stuff but that is the way it is.
do you think 3038, LG? actually I think it will go around that area before retrace but now I think I am wrong..
  • #43
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  • May 22, 2013 10:58am May 22, 2013 10:58am
Quoting Loadedgun
But looking at it on the level no side really lost bulls and bears are about even meaning the cash that drove that volatility is out and so trend followers have the day.
True but I bet on 50% daily retrace and it's a continuation decline of Euro. I saw a lot of traders got smacked upside down, those who shorted the past few days at .28xx closed their shorts at .298xx and rejoined long - its simply sucidial or they have big pockets
  • #44
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  • May 22, 2013 10:58am May 22, 2013 10:58am
Quoting jonathanhk
Not too convinced of further up - retracement had hit slightly more than 50% and I've been shorting at .2956 .2968 and .2988, the first 2 were the levels I mentioned in one of the posts i humbly posted yesterday and I sticked with what I said.

Will I still buy Euro with SP and NQ at highest level, NO WAY for the moment.
Well you could be right since it is still going down. When it stops we will see. If it retraces by much the earlier moves I would favor some more upside or at least a flat market most of Thursday to sort out direction coming week. Cheers
  • #45
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  • May 22, 2013 11:00am May 22, 2013 11:00am
  •  Trader#1F73
  • | Status: Unregistered Trader
Quoting Guest
it's only pathetic when you're at the wrong end
thnk u sheety....its nice profit
Quoting sheety
just sharing my view
i feel gold and silver will fall just a view
  • #46
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  • May 22, 2013 11:00am May 22, 2013 11:00am
Quoting sheety
enjoyy profit bro enjoyy i hope every one enjoyed the fall
we r the one who predicted gold fall 1st in the world
when gold was trading at 1682$ we r the who gave sell call for the tgt 1400$ just chk all old post s
what is your next target after fomc 1355?
  • #47
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  • May 22, 2013 11:01am May 22, 2013 11:01am
gold sell gave at 1408 cmp 1366 hehehhe
silver sell at 23.20 cmp 22.46
  • #48
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  • May 22, 2013 11:01am May 22, 2013 11:01am
Quoting Loadedgun
Well you could be right since it is still going down. When it stops we will see. If it retraces by much the earlier moves I would favor some more upside or at least a flat market most of Thursday to sort out direction coming week. Cheers
Ain't forecasting nor predicting - though possible to hit .2774 but I've just taken TP for the 3 positions I opened for today. Never be too greedy least TP get smacked upside down

Will see how the next few hours go after bernanke's speech and how the market digest before entering again
  • #49
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  • May 22, 2013 11:04am May 22, 2013 11:04am
That's how noob traders lose all their money to pro traders, by trading during news and freaking out all the time there's a spike. I was there, I learnt to keep cool and let the storm cool before getting into the market.
  • #50
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  • May 22, 2013 11:06am May 22, 2013 11:06am
Quoting Ubais
what is your next target after fomc 1355?
as prasent there is no positional calls
just close u r trade in intraday and seat with profit dont over trade and dont be hunger for more money
view: if gold breaks 1319$ we may touch 1200$ and 1200$ is a very imp level as gold production cost is 1200$
  • #51
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  • May 22, 2013 11:07am May 22, 2013 11:07am
Quoting blackNwhite
do you think 3038, LG? actually I think it will go around that area before retrace but now I think I am wrong..
You know B&W for me the Euro is in range and I am really watching to see a trend emerge I am not following specific levels now just watching to see whether we break the grid this week or next week. Range is crazy and it can only cause grief so one of my policies is to trade only when I have the inequalities listed here up or elsewhere today. So my plan is to catch the pair early - but my view is that the downtrend in the Euro is in the decline stage and we should see it recover strongly sometime next week after making a last low on this run (around 1.27 maybe).
  • #52
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  • May 22, 2013 11:08am May 22, 2013 11:08am
Quoting Guest
thnk u sheety....its nice profit
welcome bro enjoyy profit
  • #53
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  • May 22, 2013 11:09am May 22, 2013 11:09am
...back to 1.295
  • #54
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  • May 22, 2013 11:11am May 22, 2013 11:11am
The Euro hit exactly 50% retracement of recent move and right on cue resumed its trend down... I'm not sure why so many puzzled by this fairly predictable and normal behaviour
  • #55
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  • May 22, 2013 11:12am May 22, 2013 11:12am
it is time to jpy go up against major currencies
  • #56
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  • May 22, 2013 11:16am May 22, 2013 11:16am
Quoting midaspro
The Euro hit exactly 50% retracement of recent move and right on cue resumed its trend down... I'm not sure why so many puzzled by this fairly predictable and normal behaviour
First it happened pretty fast and second - the Euro has not resumed anything yet - too early to call.
  • #57
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  • May 22, 2013 11:17am May 22, 2013 11:17am
Quoting eleste
it is time to jpy go up against major currencies
ya go on high for USD/JPY and no one will buy PS4 when it's one - too expensive lol. BOJ is just waiting for the market (the rest of the world) to fix its sorry buying scheme. They will be in trouble soon.

No one CAN buys their way out of debt or bankruptcy - not especially after 20-30 odd years of extreme poor economy. And says it's market adjustment......

Go Ebi go!!!!

So long traders, until the next big one
  • #58
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  • May 22, 2013 11:19am May 22, 2013 11:19am
how annoying is this woman? have to turn off the link as i cant stand the sound of her voice
Money never sleeps...
  • #59
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  • May 22, 2013 11:22am May 22, 2013 11:22am
Quoting inpatient
how annoying is this woman? have to turn off the link as i cant stand the sound of her voice
LOL that bxxxh voice is awful, i've turned it off too.
  • #60
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  • May 22, 2013 11:23am May 22, 2013 11:23am
  •  Trader#E2D0
  • | Status: Unregistered Trader
LOL, I just stay flat, and after FOMC open some positions, do not know why all you children play game you do not know.
  • #61
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  • May 22, 2013 11:24am May 22, 2013 11:24am
Quoting Loadedgun
You know B&W for me the Euro is in range and I am really watching to see a trend emerge I am not following specific levels now just watching to see whether we break the grid this week or next week. Range is crazy and it can only cause grief so one of my policies is to trade only when I have the inequalities listed here up or elsewhere today. So my plan is to catch the pair early - but my view is that the downtrend in the Euro is in the decline stage and we should see it recover strongly sometime next week after making a last low on this run (around...
I see, LG.. btw, where is hiflyer? why everybody is so busy?
  • #62
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  • May 22, 2013 11:26am May 22, 2013 11:26am
Looking at my charts again it seems to me likely the Euro will go to about 1.282xx then zoom up to better the current high to close the week and fall again next week to about the 1.27 handle to close this bearish episode. Just me thinking out aloud - I could be very wrong. I see 1.37 on the horizon medium term if that scenario plays out.
  • #63
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  • May 22, 2013 11:26am May 22, 2013 11:26am
Quoting blackNwhite
I see, LG.. btw, where is hiflyer? why everybody is so busy?
Life is busy.
  • #64
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  • May 22, 2013 11:29am May 22, 2013 11:29am
Quoting Loadedgun
First it happened pretty fast and second - the Euro has not resumed anything yet - too early to call.
A bounce off 50% retracement often is fast...many traders would be looking to short at that point...particularly when it coincides with the Daily outer R2 Pivot point as it did.

Sure might be too early to call the longer term resumption of the trend but nevertheless it was an ideal point to take a low risk entry into the market for what is already > than 100 pip gain
  • #65
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  • May 22, 2013 11:33am May 22, 2013 11:33am
Quoting Loadedgun
Looking at my charts again it seems to me likely the Euro will go to about 1.282xx then zoom up to better the current to close the week and fall again next week to about the 1.27 handle to close this bearish episode. Just me thinking out aloud - I could be very wrong. I see 1.37 on the horizon medium term if that scenario plays out.
let see how it play
  • #66
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  • May 22, 2013 11:38am May 22, 2013 11:38am
hehe a big trap
  • #67
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  • May 22, 2013 11:41am May 22, 2013 11:41am
Quoting sheety
1420 sl sell sell sell gold
22.40 sl sell sell sell silver keep strict sl and trade
big fall on cards
look at my old call sell given at 1459 and tgt was 100$ hit our tgt chk my old post
that's really very impressive! ... what would you suggest at this stage, when gold is at around 1381, and silver is at around 22.77? ... look forward to knowing your opinion.
  • #68
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  • May 22, 2013 11:43am May 22, 2013 11:43am
  •  Trader#44AF
  • | Status: Unregistered Trader
What is going to happen if the Asia will open?
  • #69
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  • May 22, 2013 11:44am May 22, 2013 11:44am
if we look at the volume in the 1 Hour chart, so far above the average 1 Hour volume. This sometimes be a sign of the end of a trend.
  • #70
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  • May 22, 2013 11:51am May 22, 2013 11:51am
market behaving like a slut... damn it !
  • #71
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  • May 22, 2013 12:06pm May 22, 2013 12:06pm
Quoting andan
market behaving like a slut... damn it !
I know a few pretty sluts... some are even nicer than the traders we meet here sometimes but then again you must feel frustrated by something else not sluts.
  • #72
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  • May 22, 2013 12:09pm May 22, 2013 12:09pm
Quoting blackNwhite
I see, LG.. btw, where is hiflyer? why everybody is so busy?

Quoting Loadedgun
Looking at my charts again it seems to me likely the Euro will go to about 1.282xx then zoom up to better the current high to close the week and fall again next week to about the 1.27 handle to close this bearish episode. Just me thinking out aloud - I could be very wrong. I see 1.37 on the horizon medium term if that scenario plays out.


I'l be back from tomorrow....my tps got hit in the meantime at 2945!.......wow what a fall ...so the low is getting tested again as you had mentioned....i might buy again if the charts allow ..with a tight stoploss ofcourse!..had forgotten about the fomc again...i barely look at news events now !
  • #73
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  • Edited May 23, 2013 1:27am May 22, 2013 12:10pm | Edited May 23, 2013 1:27am
The damage to both the Euro and Gold look severe but I will wait at H1 levels to see reactions from there. If we find them they got the power to top the current high. People are buying and selling not necessarily trading the news over the long-term since the effects of any announcements are likely to come later and much of it anyway was anticipated hence the earlier buying from a significant pivot - the monthly S1.
  • #74
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  • May 22, 2013 12:12pm May 22, 2013 12:12pm
Gold and the Euro are trading as if by the same algo.
  • #75
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  • May 22, 2013 12:21pm May 22, 2013 12:21pm
Quoting PurePrice
why would anyone actually trade Forex during a speech.. this is the time you stay on the sidelines. Unless you are a gambler, in which case there is always a chance that you lose your pants. he could say anything to make the market go one way, then say another thing to make it go the opposite way. why bother gambling your money away when you can clearly wait for about an hour and then re-evaluate.
Pretty cool and I really like your point. We come in feeling like the market is running away and leaving us behind - a very easy way to lose the plot.
Beyond all theories there is practice and that is the hard part.
  • #76
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  • May 22, 2013 12:26pm May 22, 2013 12:26pm
Quoting Loadedgun
Gold and the Euro are trading as if by the same algo.

yup....but as far as i am concerned they change directions so unexpectedly that it becomes pointless reading them as one....it is only when dollar is dictating terms they move the way they move and that also not always...one goes flat at times while the other is running in one single direction......so i think they have their own respective range so that is how they respond
  • #77
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  • May 22, 2013 12:33pm May 22, 2013 12:33pm
Quoting Fx Hiflyer
I'l be back from tomorrow....my tps got hit in the meantime at 2945!.......wow what a fall ...so the low is getting tested again as you had mentioned....i might buy again if the charts allow ..with a tight stoploss ofcourse!..had forgotten about the fomc again...i barely look at news events now !
I was not so lucky I am impatient and so I tried to trade my predictions sequentially and got taken out at breakeven yesterday and so I decided to watch for a bounce from below which I still think will top the week. My H4 phasor is in rally mode and suggests that the intraday cycle is bullish. The line reader shows a small knoll suggesting a bounce either side (though favoring a bounce lower). That is what I think will next be resolved. Whichever way I am in the next trade.
  • #78
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  • May 22, 2013 12:34pm May 22, 2013 12:34pm
Quoting Fx Hiflyer
yup....but as far as i am concerned they change directions so unexpectedly that it becomes pointless reading them as one....it is only when dollar is dictating terms they move the way they move and that also not always...one goes flat at times while the other is running in one single direction......so i think they have their own respective range so that is how they respond
I sent email just now, check it bro..
  • #79
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  • May 22, 2013 12:41pm May 22, 2013 12:41pm
Quoting Fx Hiflyer
yup....but as far as i am concerned they change directions so unexpectedly that it becomes pointless reading them as one....it is only when dollar is dictating terms they move the way they move and that also not always...one goes flat at times while the other is running in one single direction......so i think they have their own respective range so that is how they respond
But check the black box on Fixes and what the effects will be on movement among correlated pairs if one had its starting fix delayed by 1. Could explain their seemingly erratic motion relative to one another. The issue would be simply timing one a Fix behind and anticipating behavior as such - I did not trade cash but demo traded the event (Euro and Gold) to practice management if like you I forget the news event as I often do and have to manage it (took profit in Gold and still trading the Euro down risk held at breakeven). Cheers
  • #80
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  • May 22, 2013 1:33pm May 22, 2013 1:33pm
Interesting comments. My advice is avoid predictions. Learn to dance with the market and pay attention because the market can ditch you any time. Happy trading!!
  • #81
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  • May 22, 2013 2:05pm May 22, 2013 2:05pm
So many predictions...so many burned accounts...having positions b4 news...and never ask yourselves is anything wrong with ur character...I w8ed and w8ed and didn't trade for 10 days (actually have some lots on spx cash futures at 1610, 1630 and 1671 - which will be all brought to green) and today I finally spotted mega opportunity at 1,3000 (1,2992 my entry point) and still haven covered my short...
So in general I w8ed 10 days for this...and the profit I made is 10x than if I traded every day...
  • #82
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  • May 22, 2013 2:27pm May 22, 2013 2:27pm
Quoting DemoAntares
So many predictions...so many burned accounts...having positions b4 news...and never ask yourselves is anything wrong with ur character...I w8ed and w8ed and didn't trade for 10 days (actually have some lots on spx cash futures at 1610, 1630 and 1671 - which will be all brought to green) and today I finally spotted mega opportunity at 1,3000 (1,2992 my entry point) and still haven covered my short...
So in general I w8ed 10 days for this...and the profit I made is 10x than if I traded every day...
setups are good but it is also possible for say a setup you have to fall within another's overall position. For instance someone who sold much higher than you and is still nursing the trend. Pretty complicated this trading thing in practice.
  • #83
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  • May 22, 2013 2:27pm May 22, 2013 2:27pm
I agree though about not trading without some planning and an understanding of what you want to do.
  • #84
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  • May 22, 2013 2:33pm May 22, 2013 2:33pm
Quoting Spik
Well, thanks. After busting 3 accounts in 3 years and with them 10.950 euros, there is no more love left. More time for buddies and chicks.

Just about everyone blows an account or two.
  • #85
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  • May 22, 2013 2:41pm May 22, 2013 2:41pm
Quoting Loadedgun
setups are good but it is also possible for say a setup you have to fall within another's overall position. For instance someone who sold much higher than you and is still nursing the trend. Pretty complicated this trading thing in practice.
That is the setup that has been given to me...since I only have positions opened (short) on spx and no other...closed eur short 5 min ago...150 pips...
Already thinking on my next move since triple bottom on 8h is close (1,2740) and I don't expect we will c 1,30 any time soon (but all who read somebody else's expectations should forget that part (move to strike)).
  • #86
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  • May 22, 2013 2:42pm May 22, 2013 2:42pm
Quoting Dr.Zain
Hi LG HRU? The move in the Market comes before he opened his Bloody mouth? Now what he is saying i mean testifying in the Senate?
I honestly did not pay attention doc. I just waited to read the price action that explained it.
  • #87
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  • May 22, 2013 2:49pm May 22, 2013 2:49pm
Quoting longorshort
that's really very impressive! ... What would you suggest at this stage, when gold is at around 1381, and silver is at around 22.77? ... Look forward to knowing your opinion.
1319 below gold will touch 1200
silver expeted 14$ but not confirm on this tgt ill give u all updates
  • #88
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  • May 22, 2013 3:57pm May 22, 2013 3:57pm
Price has reverted back to scale at root rather quickly - looks like more volatility ahead tomorrow.
  • #89
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  • May 22, 2013 4:48pm May 22, 2013 4:48pm
Quoting Spik
Loss after loss after loss after loss. Every trade is a loss. I mean not 1 win and 2 or 3 losses. I got like 20 losses in a row. Time to quit forex. Damn, what a bastard.

Big Boys and robots wipe all stops, it´s the Name of the game...it used to be roulette, you had some Chance...nowadays it´s russian roulette...
  • #90
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  • May 22, 2013 5:27pm May 22, 2013 5:27pm
Alternatively you could use this as an opportunity to re-appraise your complete approach to trading by firstly developing a trading plan which you never violate. In that plan you should firstly establish your 'circuit break', perhaps a max loss of 3% a day with a risk of 1% per trade. Wrt your technique/strategy/edge if you've suffered a losing streak of 20 trades I'd hazard a guess that you've developed no edge and you're gambling on gut feel, even engaging in revenge trading.

Can you start again? I've no idea what damage you've done to your personal finances.


Quoting Spik
Loss after loss after loss after loss. Every trade is a loss. I mean not 1 win and 2 or 3 losses. I got like 20 losses in a row. Time to quit forex. Damn, what a bastard.
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #91
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  • May 22, 2013 5:30pm May 22, 2013 5:30pm
Wrong, wrong, wrong. The game has simply evolved and this year (so far) has been superb for traders who know what they're involved in and how to take advantage of the current situation.

Quoting cuchuflito
Big Boys and robots wipe all stops, it´s the Name of the game...it used to be roulette, you had some Chance...nowadays it´s russian roulette...
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #92
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  • May 22, 2013 6:46pm May 22, 2013 6:46pm
  •  Trader#FF56
  • | Status: Unregistered Trader
I stopped bernanke out twice today. anyone think I should carry on trading?
  • #93
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  • May 22, 2013 7:20pm May 22, 2013 7:20pm
sell gold 1370 sl1401 tp 1309
  • #94
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  • May 22, 2013 7:28pm May 22, 2013 7:28pm
  •  Trader#478A
  • | Status: Unregistered Trader
Of course he would said something regards it to when end QE if he testified to congress. If not he would lose his job. He never even mention the time or date when QE start to scale down, yet the market was just jump in and assuming the QE will be scale down. Know how when he has press conference with the reports after federal rate. He never mentions of any time line or when QE would be scale back or end it. Sometime wonder is this market lost their common sense or what
  • #95
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  • May 22, 2013 7:46pm May 22, 2013 7:46pm
and soooo many trader losses, thats why forex provided SL to minimize the losses. And trader may use Money management to survive. Losses is not because of Abe, Amari, Bernanke, Draghi, or blue Jinny, losses is because of the trader made "traditional" mistakes.

Forex is simple, only buy or sell. Psyhcology makes it difficult.
  • #96
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  • May 22, 2013 8:00pm May 22, 2013 8:00pm
  •  Trader#FF56
  • | Status: Unregistered Trader
exactly why I don't trade forex, you gonna lose that game, guaranteed. u want proof or I call my big bro from nigeria.
  • #97
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  • May 22, 2013 8:22pm May 22, 2013 8:22pm
  •  Trader#0914
  • | Status: Unregistered Trader
was short in mourning got out made 60 points just as ben opened his mouth then went long made another 50 points then went short as he got into his speech made another 80 points.
  • #98
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  • May 22, 2013 10:37pm May 22, 2013 10:37pm
Quoting Spreadbetter
Wrong, wrong, wrong. The game has simply evolved and this year (so far) has been superb for traders who know what they're involved in and how to take advantage of the current situation.
Agreed, those who trade longer time frames do not suffer from the ills of most 'daytraders'.
  • #99
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  • May 23, 2013 1:33am May 23, 2013 1:33am
Quoting Spreadbetter
Alternatively you could use this as an opportunity to re-appraise your complete approach to trading by firstly developing a trading plan which you never violate. In that plan you should firstly establish your 'circuit break', perhaps a max loss of 3% a day with a risk of 1% per trade. Wrt your technique/strategy/edge if you've suffered a losing streak of 20 trades I'd hazard a guess that you've developed no edge and you're gambling on gut feel, even engaging in revenge trading.

Can you start again? I've no idea what damage you've done to your...
Absolute nonsense - just goes to show why people fail following stupid rules not based on how price moves but on the fear of losing. Totally daft.
  • #100
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  • May 23, 2013 1:36am May 23, 2013 1:36am
Quoting Emanuel
Agreed, those who trade longer time frames do not suffer from the ills of most 'daytraders'.
All traders have the exact same problems the difference is when you realize profit or loss.
  • #101
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  • May 23, 2013 3:02am May 23, 2013 3:02am
i think forex is different from the past years., these days HFTs constitute a higher percentage of the market than yesteryears- that why its much easier to get 'chopped'
  • #102
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  • May 23, 2013 3:03am May 23, 2013 3:03am
Quoting kasra79
sell gold 1370 sl1401 tp 1309
Learn to trade quietly and try not to be a noob like few other noobs around here shouting your entries, your entries MAY easily be stop out. It happens and it will happen AGAIN
  • #103
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  • May 23, 2013 3:57am May 23, 2013 3:57am
Definetly the Forex is different from the past years; the chart and the economical enivronment are always in move. Good luck and ..meet you on the TP line. Random fact->yesterday: +25K profit. You need to pay more attention on chart's movement and on the fundamental analysis. Take care!
  • #104
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  • May 23, 2013 4:00am May 23, 2013 4:00am
Quoting jonathanhk
Learn to trade quietly and try not to be a noob like few other noobs around here shouting your entries, your entries MAY easily be stop out. It happens and it will happen AGAIN
I think that is a superstition and I am sorry I do not mean it rudely but technically. The micro finance of it does not jell. I trade ECN and that means I access an array of orders structured on availability and stacked in an order that reflects market depth. There is no chance that system can be violated and no premise to assume therefore that anyone has a chance of doing better than the other in the range. In other words, it would be impossible to single out an order (ridiculous) or a specific level with certainty and that risk ensures I am correct. Cheers

BTW: It is another way of saying the market protects participants from one another by the risk it entails to take undue advantage of others. So regardless of scruples varying across the population of participants the market remains a level playing field by that measure. If it does not appear so sometimes it is only because the measure of risk is different at different points and reactions follow suit. Everything depends on your skill - there is no manipulation because of the disproportionate risk it entails.
  • #105
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  • May 23, 2013 4:17am May 23, 2013 4:17am
Once again you've revealed exactly where you are on the learning curve; if the curve has a metric of 100 you're at stage 4. You're hopelessly out of your depth and any advice from you should come with a financial health warning.

Quoting Loadedgun
Absolute nonsense - just goes to show why people fail following stupid rules not based on how price moves but on the fear of losing. Totally daft.
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #106
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  • May 23, 2013 4:24am May 23, 2013 4:24am
Quoting Loadedgun
I think that is a superstition
I'm not saying its superstition, instead I'm indirectly saying traders who shout entries are plain noobs who are boastful and arrogant or otherwise ignorant.

This is one of the many reasons why we see so many noobs here in ff.

Good trading - off to the cool beach today for wind surfing - its cold.
  • #107
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  • May 23, 2013 4:26am May 23, 2013 4:26am
Quoting Spreadbetter
Once again you've revealed exactly where you are on the learning curve; if the curve has a metric of 100 you're at stage 4. You're hopelessly out of your depth and any advice from you should come with a financial health warning.
Well I see my comments are starting to attract negative reactions I better go on a break for a week or two and come back to see if these disruptive elements are still around. Happy trading everyone and thanks for being there to share thoughts with.
  • #108
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  • May 23, 2013 4:29am May 23, 2013 4:29am
Quoting jonathanhk
I'm not saying its superstition, instead I'm indirectly saying traders who shout entries are plain noobs who are boastful and arrogant or otherwise ignorant.

This is one of the many reasons why we see so many noobs here in ff.

Good trading - off to the cool beach today for wind surfing - its cold.
Nice time at the beach I know what you are saying I am saying it is harmless to state your trade details no harm can come of that.
  • #109
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  • May 23, 2013 6:06am May 23, 2013 6:06am
I would be surprised if we did not see 1443 in Gold on the day.
  • #110
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  • May 23, 2013 6:17am May 23, 2013 6:17am
What is the big news today? Anybody knows?
  • #111
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  • May 23, 2013 6:21am May 23, 2013 6:21am
I bottled 56 bottles of my own home brewed Brown Ale today
In the days of old when sailors were bold, and seldom if ever contented.
  • #112
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  • May 23, 2013 6:23am May 23, 2013 6:23am
I made faggioli. It will effect my trading seriously if I eat a lot. I bet bb doesn't eat faggioli.
  • #113
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  • May 23, 2013 8:22am May 23, 2013 8:22am
Quoting kasra79
sell gold 1370 sl1401 tp 1309

Quoting jonathanhk
Learn to trade quietly and try not to be a noob like few other noobs around here shouting your entries, your entries MAY easily be stop out. It happens and it will happen AGAIN
Told you so - don't shout your entry and be an ignorant noob.

Do learn about price action. Traditional case of buy rubbish and sell truth - just take a look at 20:30 and see who is talking tonight, that will then tell you to long or short

Again look at price action & CALENDAR events. I know some traders never pay attention but it's far better to ENTER with the MINIMUM risk possible rather than somewhere in between.

Good luck
  • #114
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  • May 23, 2013 8:57am May 23, 2013 8:57am
usd strong, sell for eurusd
  • #115
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  • May 23, 2013 9:02am May 23, 2013 9:02am
Quoting Fermy17
usd strong, sell for eurusd
Wait is what I can say to you.

Loads of traders fail to see that .28x - .29x is always (or a lot of time) a no man zone - it always whip saw up and down until a clear trend is seen

I rather not be a noob
  • #116
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  • May 23, 2013 11:20am May 23, 2013 11:20am
Quoting DemoAntares
I'm just suggesting the two (or three I'm not exactly sure how many of u are) open a thread and do ur thing there....just a thought, I'm not saying I find both of ur reasonings bad, I'm just saying it almost has nothing to do with the thread since the debate between few of u has been ''charged'' too much for this thread to be useful, especially to noobs...
Sure I am just pointing out that is not how it works online you merely respond to what is of immediate concern and what then defines the thread defines it but there is very little one can do to control it to work a certain way. I would rather not have some of the conversations but of course even that is a process so really I am saying just do not worry about it carry on doing what you can especially for the noobs and I am sure you will help them a lot. Some of the conversations though are bound to help regardless of the seeming bad blood.
  • #117
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  • May 23, 2013 11:32am May 23, 2013 11:32am
Quoting jonathanhk
Quoting kasra79
sell gold 1370 sl1401 tp 1309



Told you so - don't shout your entry and be an ignorant noob.

Do learn about price action. Traditional case of buy rubbish and sell truth - just take a look at 20:30 and see who is talking tonight, that will then tell you to long or short

Again look at price action & CALENDAR events. I know some traders never pay attention but it's far better to ENTER with the MINIMUM risk possible rather than somewhere in between.

Good luck
hey mester plase wait hahaha dear
  • #118
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  • May 23, 2013 12:06pm May 23, 2013 12:06pm
Quoting kasra79
hey mester plase wait hahaha dear
I'm not trying to be mean, but have you break even for the day yet at 1.3070? Thought I share with you but guess you won't need it as you are either an expert shouter or otherwise.

Good luck to your trading.
  • #119
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  • May 23, 2013 12:11pm May 23, 2013 12:11pm
If you haven't learned to trade the daily candles, you shouldn't trade with real money. Most 'daytraders' are feeding their brokers. It's as simple as that.

Another thing that annoys the hell out of me is everyone's obsession with the EURUSD. Why do you focus all your energy in one specific pair? Why?!

NOOBS all around.
  • #120
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  • May 23, 2013 12:15pm May 23, 2013 12:15pm
In addition, if your English is poor, please enroll in an ESOL course to help you communicate better with the English speaking world. There is nothing more off-putting than reading cryptic posts using very, very poor English. Abstain from posting until you've mastered the delicate craft of sentence structure and grammar.
  • #121
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  • May 23, 2013 12:43pm May 23, 2013 12:43pm
Quoting Emanuel
In addition, if your English is poor, please enroll in an ESOL course to help you communicate better with the English speaking world. There is nothing more off-putting than reading cryptic posts using very, very poor English. Abstain from posting until you've mastered the delicate craft of sentence structure and grammar.
Hello boss I am sorry but you are out of line. We are here now as we are and english or no english we trade. If english did the trader make we would not be here. Ever wondered what effort it would take you to learn Chinese? Or Russian? Or Indian etc it is no longer the english speaking world it is now that global village we all live in - you try to learn other languages too else respect the effort of others more enterprising by that measure.
  • #122
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  • May 23, 2013 12:47pm May 23, 2013 12:47pm
It has been a long day and I have been with the price action all this time - dead heat. Feels good. I call the time when I was so confused I hedged every move to no avail. And I swore I was gonna change that some day - looking good.
  • #123
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  • May 23, 2013 10:12pm May 23, 2013 10:12pm
Now back to the item at hand...

Disruptive elements ...
Come with me if you want to live....
  • #124
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  • Jun 20, 2013 3:50pm Jun 20, 2013 3:50pm
Quoting jonathanhk
I'm not trying to be mean, but have you break even for the day yet at 1.3070? Thought I share with you but guess you won't need it as you are either an expert shouter or otherwise.

Good luck to your trading.
hi mr jonathanhk
how are you
i see gold is 1309 my target
Quoting kasra79
sell gold 1370 sl1401 tp 1309
good luck Professor
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