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EurAnalysis Kindergarten 24 replies

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  • #60,421
  • Nov 8, 2012 11:54am Nov 8, 2012 11:54am
Quoting Kilgore T
PA on the pair could serve as the definition of "demented"
That is despair.
  • #60,422
  • Nov 8, 2012 11:57am Nov 8, 2012 11:57am
Quoting magicgate
PipTrapper,
It might be very tasty to buy USD/JPY, what do U think
I vote nay. Wait few sessions until some clear view about Fiscal Cliff.
  • #60,423
  • Nov 8, 2012 12:07pm Nov 8, 2012 12:07pm
Quoting Ken A
I vote nay. Wait few sessions until some clear view about Fiscal Cliff.
At least hope to move SL after some retrace
  • #60,424
  • Nov 8, 2012 12:12pm Nov 8, 2012 12:12pm
Hello anyone out there can help out plan a strategy on putting an order for buy and sell
Can you please tell me where I'm wrong in thinking

Eu
Buy order 1.2820
Sell order 1.2690

Are these outer ranges enough to catch any breakout in the top or bottom?
And should I scale in about 1/3 of my usual amount?

Thank,

G
Wooooohooooo or Boooooohooooo
  • #60,425
  • Nov 8, 2012 12:24pm Nov 8, 2012 12:24pm
Quoting gnomoneey
Hello anyone out there can help out plan a strategy on putting an order for buy and sell
Can you please tell me where I'm wrong in thinking

Eu
Buy order 1.2820
Sell order 1.2690

Are these outer ranges enough to catch any breakout in the top or bottom?
And should I scale in about 1/3 of my usual amount?

Thank,

G
Hey G,

I don't prefer this strategy for this pair. We are not in the range and the break out either fake or follow through no one knows but that depends on your MM leverage and SL. I still remember I had a pending sell order at 1.2180 got hit when Draghi made his speech then PA moved to recent 1.3170 without looking back. I didn't hold it because of the negative swap.
  • #60,426
  • Nov 8, 2012 12:34pm Nov 8, 2012 12:34pm
Quoting gnomoneey
Hello anyone out there can help out plan a strategy on putting an order for buy and sell
Can you please tell me where I'm wrong in thinking

Eu
Buy order 1.2820
Sell order 1.2690

Are these outer ranges enough to catch any breakout in the top or bottom?
And should I scale in about 1/3 of my usual amount?

Thank,

G
Ken is right, MM rules
Imho it is also important to determine when your orders should be cancelled, depends on some circumstance
  • #60,427
  • Nov 8, 2012 12:45pm Nov 8, 2012 12:45pm
Quoting Ken A
Hey G,

I don't prefer this strategy for this pair. We are not in the range and the break out either fake or follow through no one knows but that depends on your MM leverage and SL. I still remember I had a pending sell order at 1.2180 got hit when Draghi made his speech then PA moved to recent 1.3170 without looking back. I didn't hold it because of the negative swap.
Thanks ken and magicgate

That's why I'm debating In Scaling in 1/10th of my usual trade this way I won't get killed.
But I know if PT comes to this conversation he would say he rather sell on any up movement and wait until it hits a resistance.
I guess I'm trying these things to see if these type of trades suits me or not. I've made a decision that this month is scalping month and see if I don't get a heart attack. I've been doing intraday from 1-3days and sometime more. And I know I can handle that so now we scalp and see if thats ok. At same time try entry strategies that I've never done.
Thanks for the input it's much appreciated

G
Wooooohooooo or Boooooohooooo
  • #60,428
  • Nov 8, 2012 12:57pm Nov 8, 2012 12:57pm
Quoting Ken A
I vote nay. Wait few sessions until some clear view about Fiscal Cliff.
we're unlikely to see any closure on that unfortunately. I think its not on the congressional agenda until january 2013. i think we're in for a lot of s&p chop and fx chop in the last few months of 2012. i'm market neutral as much as possible so that is good for me.. but I still love building a big bull/bear position if its warranted.
Any prices quoted are futures
  • #60,429
  • Nov 8, 2012 1:04pm Nov 8, 2012 1:04pm
Quoting gnomoneey
Hello anyone out there can help out plan a strategy on putting an order for buy and sell
Can you please tell me where I'm wrong in thinking

Eu
Buy order 1.2820
Sell order 1.2690

Are these outer ranges enough to catch any breakout in the top or bottom?
And should I scale in about 1/3 of my usual amount?

Thank,

G
my .02... I don't leave orders on anymore ever. I will mark PA ranges where I anticipate orders that I would like to place. Then as PA actually starts to approach that zone, I will be ready to put in market entries. In flat pricing, entry is of paramount importance and you should make every effort to maximize your profit regardless of the TF you trade.
Any prices quoted are futures
  • #60,430
  • Nov 8, 2012 1:06pm Nov 8, 2012 1:06pm
Quoting redteamgo
we're unlikely to see any closure on that unfortunately. I think its not on the congressional agenda until january 2013. i think we're in for a lot of s&p chop and fx chop in the last few months of 2012. i'm market neutral as much as possible so that is good for me.. but I still love building a big bull/bear position if its warranted.
You are correct. What I mean is wait for the market expectations then follow it. If the markets are in hiding mode, I expect more Yen buying and that would go against the position. Then again it comes back to leverage with or without SL and time frame to target.

BTW, creative signature.
  • #60,431
  • Nov 8, 2012 1:09pm Nov 8, 2012 1:09pm
Quoting Ken A
You are correct. What I mean is wait for the market expectations then follow it. If the markets are in hiding mode, I expect more Yen buying and that would go against the position. Then again it comes back to leverage with or without SL and time frame to target.

BTW, creative signature.
gotcha. and thanks

really though, this S&P chop is superb for day trading. stocks are all beta right now and the daily e-mini moves are incredible lately. from interviews I have been watching on BB TV, floor traders and managers are increasingly wary of indices levels and i think an ongoing selloff is likely. which is also great for the euro bears
Any prices quoted are futures
  • #60,432
  • Nov 8, 2012 1:39pm Nov 8, 2012 1:39pm
Quoting redteamgo
my .02... I don't leave orders on anymore ever. I will mark PA ranges where I anticipate orders that I would like to place. Then as PA actually starts to approach that zone, I will be ready to put in market entries. In flat pricing, entry is of paramount importance and you should make every effort to maximize your profit regardless of the TF you trade.

thanks for your 0.02 and insight.....love your signature
Wooooohooooo or Boooooohooooo
  • #60,433
  • Nov 8, 2012 1:57pm Nov 8, 2012 1:57pm
Quoting magicgate
PipTrapper,
It might be very tasty to buy USD/JPY, what do U think
I am already long 77.16 and I just added another one a few hours ago at 79.36
I also added one last week at 79.60 which is now slightly underwater, but I am not worried coz this sucker is going to retest 84.20 very soon. I also forecast breaking the 90 level within the next 12 months. With a positive swap, it's an easy trade and I plan to keep scaling in fresh longs with every large TF pullback to support.

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Those who say it cannot be done should not interrupt those who are doing it
  • #60,434
  • Nov 8, 2012 2:04pm Nov 8, 2012 2:04pm
Quoting gnomoneey
Thanks ken and magicgate

That's why I'm debating In Scaling in 1/10th of my usual trade this way I won't get killed.
But I know if PT comes to this conversation he would say he rather sell on any up movement and wait until it hits a resistance.
I guess I'm trying these things to see if these type of trades suits me or not. I've made a decision that this month is scalping month and see if I don't get a heart attack. I've been doing intraday from 1-3days and sometime more. And I know I can handle that so now we scalp and see if thats...
Yep you are right.. For the most part one of my rules is to sell at resistance and buy at support. I very rarely trade breakouts. The only exception is when I am scaling in additional positions on an existing winning trade and we get a strong range breakout with high volume. Then I wait for pullback to retest the breakout line and enter at that point. I never use sell-stop and buy-stop orders... only limit orders. In fact I prefer manual entries on solid signals, but that's just me. Everyone has his or her own methods. If it works for you, keep doing it until it doesn't work any more.
Those who say it cannot be done should not interrupt those who are doing it
  • #60,435
  • Nov 8, 2012 2:17pm Nov 8, 2012 2:17pm
Quoting redteamgo
gotcha. and thanks

really though, this S&P chop is superb for day trading. stocks are all beta right now and the daily e-mini moves are incredible lately. from interviews I have been watching on BB TV, floor traders and managers are increasingly wary of indices levels and i think an ongoing selloff is likely. which is also great for the euro bears
Agreed and this will be the case until year end. Consider the following.

1. The SP500 (and other equity indices) rally has been based on "free money" and not corporate valuations, PE ratios or risk appetite. Investors have been forced out of the bond markets into equities to find some yield. As such, the equity markets have no fundamental legs.

2. With the Obama victory, there is a very strong likelihood that come January, capital gains are going to be taxed at the "earned income" rates. If the market trades accordingly, they will be cashing in before year end to claim their profits in 2012 so as to avoid the potentially higher capital gains tax in 2013.

3. The Q3 earnings season was not very impressive and the forward guidance for Q4 is even less so. That does not paint a very pretty picture going forward and with a possible fiscal cliff on the horizon, it is likely to get even worse.

Just my €2,000,000 ($0.02) worth.
Those who say it cannot be done should not interrupt those who are doing it
  • #60,436
  • Nov 8, 2012 2:27pm Nov 8, 2012 2:27pm
Quoting cdndollar
Sold Cable here @1.6156..
limit short waiting @1.6176 with 50 pip stop for both..
morning..

Closed Cable short & reverse to long here @1.5983 with 50 pips stop..

Long Euro here @1.2745 with 50 pips stop.. bears will have to wait a bit longer for sub 1.27..

Long EurJpy here @101.288 with 50 pips stop..
  • #60,437
  • Nov 8, 2012 2:53pm Nov 8, 2012 2:53pm
Quoting PipTrapper
Yep you are right.. For the most part one of my rules is to sell at resistance and buy at support. I very rarely trade breakouts. The only exception is when I am scaling in additional positions on an existing winning trade and we get a strong range breakout with high volume. Then I wait for pullback to retest the breakout line and enter at that point. I never use sell-stop and buy-stop orders... only limit orders. In fact I prefer manual entries on solid signals, but that's just me. Everyone has his or her own methods. If it works for you, keep...
thanks PT...much appriciated as always very insightful reply
Wooooohooooo or Boooooohooooo
  • #60,438
  • Edited 6:53pm Nov 8, 2012 6:35pm | Edited 6:53pm
Wondering if somebody can help me copy/paste my custom template over to another MT4 platform for a different brokerage firm.

The file seems to be locked and are not showing up under the "templates" folder... Any ideas?

*I just want to copy/paste this template into my FXCM Program Files Template folder.

EDIT: Nevermind, I figured it out...
Attached Image (click to enlarge)
Click to Enlarge Name: Template.jpg Size: 151 KB
  • #60,439
  • Nov 8, 2012 7:42pm Nov 8, 2012 7:42pm
Thursday Report:

This report contains: Econometric, Technical, cyclical fundamental and order flow analysis.

It’s exclusively designed for professional traders.

Made by Gino

(Anyone who wants this report via email, just send me an email to [color=blue][email protected][/color]) I usually post the report at this hour. (10 pm GMT -6)
Guys any doubts or questions will be solved on Weekend. I will make a FAQ with any questions you have.
(Also if I missed any subscriber please let me know ASAP)

GL to all this week,
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File Type: pdf 8.11.2012.pdf   838 KB | 223 downloads
  • #60,440
  • Nov 8, 2012 9:07pm Nov 8, 2012 9:07pm
Dollar is not in fight but in love.

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