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  • #1,321
  • Aug 1, 2007 5:50am Aug 1, 2007 5:50am
in 124 , ,, 1 yen = 0.8 cent
in 118, ,, 1 yen = 0.85 cent

that is 6% increase..... 1 pip is now 6% heavier.... the short it is, the heavier it gets.... expect a tighter range down below?
  • #1,322
  • Aug 1, 2007 7:16am Aug 1, 2007 7:16am
Hmm..so the stop chasers are amongst us again. Interesting. Wonder if this will hold into the US Session.
Patience + Humility + Study = Success
  • #1,323
  • Aug 1, 2007 8:19am Aug 1, 2007 8:19am
Nice. Was at work while this happened.
Only thing .. I wasn't available to catch this....
Hope you held all the way to your TP

Quoting dove_alliance
I got in at the 117.80 long and my destination is the 118.60

Sorry about that: my entry was the 117.70
Chances favour the prepared.
  • #1,324
  • Aug 1, 2007 8:23am Aug 1, 2007 8:23am
Stopped out of my 118 short at 118.15, short from 118.87 lets play.
Patience + Humility + Study = Success
  • #1,325
  • Aug 1, 2007 8:50am Aug 1, 2007 8:50am
Back to 118 we go
Patience + Humility + Study = Success
  • #1,326
  • Aug 1, 2007 12:06pm Aug 1, 2007 12:06pm
This is for you new traders trying to make it in this 4X market:
The reason I came on this forum was to be a little helpful for you beginners.... I sat back and watch the posting of traders who new nothing about what they are saying and giving advice about what to do and which way to go but always wrong. These traders are trying to be technical and analyze why it is doing what it is doing in the market…. But again, they were wrong.

Like this morning, the Yen took a dump and here are these traders giving out lows for the Yen that was not going to hit…. I knew different because I knew what was happening and all I did was give my entry and my destination and then, it went that direction. WHY? Because I have spent over two on this one pair. Studying the usd/jpy and trade nothing but this one pair. Most of you traders jump form currency to currency hoping to pull out a few pips and that is one of the worst mistake you can make. Choose a currency pair and stay with that pair. Learn everything about that pair; the reasons why is does what it does; times in which the pair moves the most; reactions to announcement; everything possible you could learn about the pair of your choosing. And then, stay with that pair only…. I also suggest you choose a pair that is usd stamped….. I also learn about hedging and staying with a trade when I know what will eventually happen. Do not take a hit because someone suggest to do so… Take your time and react to what the market is going at the time and what indicators are saying such as pivots.

Don’t listen to what traders are saying without first backing it up with indicators. Most importantly, don’t think what it is going to do or analyze it yourself because you will be 100% wrong.

The most important indicator that I use is pivots – resistance and supports. With these pivots I use moving averages set at the right base and parameters. Next, are trends and I do not go long distance. The furthest I go is daily and that is it because I have no idea what will happen in this market from moment to moment.

This morning I got into that trade going long for many reasons and the reasons are because of indicators and not because of what someone said…. I got in at the 117.70 and set my limit 118.60…. When it got near the limit my indicators said it was going on to the daily pivot so, I reset my limit to the daily at 118.83.

I am a Christian and My Lord Jesus is my mentor and teacher. It is through Him that I had learned what I know. I don’t care for the reasons why this market does what it does. For one thing, history does not repeat itself.. Never has and never will.
Take care and God bless.
The Dove - Forex Trainer
  • #1,327
  • Aug 1, 2007 12:11pm Aug 1, 2007 12:11pm
Quoting dove_alliance
This is for you new traders trying to make it in this 4X market:
The reason I came on this forum was to be a little helpful for you beginners.... I sat back and watch the posting of traders who new nothing about what they are saying and giving advice about what to do and which way to go but always wrong. These traders are trying to be technical and analyze why it is doing what it is doing in the market…. But again, they were wrong.

Like this morning, the Yen took a dump and here are these traders giving out lows for the Yen that was not going to hit…. I knew different because I knew what was happening and all I did was give my entry and my destination and then, it went that direction. WHY? Because I have spent over two on this one pair. Studying the usd/jpy and trade nothing but this one pair. Most of you traders jump form currency to currency hoping to pull out a few pips and that is one of the worst mistake you can make. Choose a currency pair and stay with that pair. Learn everything about that pair; the reasons why is does what it does; times in which the pair moves the most; reactions to announcement; everything possible you could learn about the pair of your choosing. And then, stay with that pair only…. I also suggest you choose a pair that is usd stamped….. I also learn about hedging and staying with a trade when I know what will eventually happen. Do not take a hit because someone suggest to do so… Take your time and react to what the market is going at the time and what indicators are saying such as pivots.

Don’t listen to what traders are saying without first backing it up with indicators. Most importantly, don’t think what it is going to do or analyze it yourself because you will be 100% wrong.

The most important indicator that I use is pivots – resistance and supports. With these pivots I use moving averages set at the right base and parameters. Next, are trends and I do not go long distance. The furthest I go is daily and that is it because I have no idea what will happen in this market from moment to moment.

This morning I got into that trade going long for many reasons and the reasons are because of indicators and not because of what someone said…. I got in at the 117.70 and set my limit 118.60…. When it got near the limit my indicators said it was going on to the daily pivot so, I reset my limit to the daily at 118.83.

I am a Christian and My Lord Jesus is my mentor and teacher. It is through Him that I had learned what I know. I don’t care for the reasons why this market does what it does. For one thing, history does not repeat itself.. Never has and never will.
Take care and God bless.
Good post, good post.
Patience + Humility + Study = Success
  • #1,328
  • Aug 1, 2007 12:16pm Aug 1, 2007 12:16pm
Dove,

I appreciate the help that you provide me and others on this forum. It is great to get good advice and knowledge from the ones who really know what they are doing and saying.

Question.....

On your trade today, was it because of S3 that you decided to go in at 117.70? That is what I am seeing.
  • #1,329
  • Aug 1, 2007 12:20pm Aug 1, 2007 12:20pm
Is their a reversal occuring in the trend of USD/JPY???
"Don't work for your money, but let money work for you."
  • #1,330
  • Aug 1, 2007 12:46pm Aug 1, 2007 12:46pm
Quoting dove_alliance
This is for you new traders trying to make it in this 4X market:
The reason I came on this forum was to be a little helpful for you beginners.... I sat back and watch the posting of traders who new nothing about what they are saying and giving advice about what to do and which way to go but always wrong. These traders are trying to be technical and analyze why it is doing what it is doing in the market…. But again, they were wrong.

Like this morning, the Yen took a dump and here are these traders giving out lows for the Yen that was not going to hit…. I knew different because I knew what was happening and all I did was give my entry and my destination and then, it went that direction. WHY? Because I have spent over two on this one pair. Studying the usd/jpy and trade nothing but this one pair. Most of you traders jump form currency to currency hoping to pull out a few pips and that is one of the worst mistake you can make. Choose a currency pair and stay with that pair. Learn everything about that pair; the reasons why is does what it does; times in which the pair moves the most; reactions to announcement; everything possible you could learn about the pair of your choosing. And then, stay with that pair only…. I also suggest you choose a pair that is usd stamped….. I also learn about hedging and staying with a trade when I know what will eventually happen. Do not take a hit because someone suggest to do so… Take your time and react to what the market is going at the time and what indicators are saying such as pivots.

Don’t listen to what traders are saying without first backing it up with indicators. Most importantly, don’t think what it is going to do or analyze it yourself because you will be 100% wrong.

The most important indicator that I use is pivots – resistance and supports. With these pivots I use moving averages set at the right base and parameters. Next, are trends and I do not go long distance. The furthest I go is daily and that is it because I have no idea what will happen in this market from moment to moment.

This morning I got into that trade going long for many reasons and the reasons are because of indicators and not because of what someone said…. I got in at the 117.70 and set my limit 118.60…. When it got near the limit my indicators said it was going on to the daily pivot so, I reset my limit to the daily at 118.83.

I am a Christian and My Lord Jesus is my mentor and teacher. It is through Him that I had learned what I know. I don’t care for the reasons why this market does what it does. For one thing, history does not repeat itself.. Never has and never will.
Take care and God bless.
Thanks Dove
  • #1,331
  • Aug 1, 2007 12:56pm Aug 1, 2007 12:56pm
Dove, I hope you aren't leaving us/me because of anything related into this post. Your observations are what I use to determine if I want to enter with what I see as well.

I just wish/hope you would be more willing to share with me more of what you see so that I can see it more. I'm using pivots, but I've been burned on USDJPY by seeing it break a pivot and then reverse instead of going up. I still have a lot of learning to do

Thank you for your help and guidance though!
  • #1,332
  • Edited 1:14pm Aug 1, 2007 12:57pm | Edited 1:14pm
Quoting MERCCLASS
Thanks Dove
This is a great post and Iam glad that people like you can help other people trade better

Iam a newbie, I have downloaded the Crown & Glory Calculator that you said, I have placed the pivots in and was wondering if I have done it right, any help appreciated, this is what I placed in


Open: 118.91
High: 119.49
Low: 118.28
Closed: 118.36

R1 = 120.35
R2 = 119.92
R3 = 119.14

Pivot Point = 118.71

S1 = 117.93
S2 = 117.5
S3 = 116.72

Is this right and what does it do?

Thanks for any help and sorry for my ignorance


Thanks
  • #1,333
  • Aug 1, 2007 12:58pm Aug 1, 2007 12:58pm
Nominated best of FF posts

Always read your posts.

Thank you for your valuable input.
  • #1,334
  • Aug 1, 2007 12:59pm Aug 1, 2007 12:59pm
s3padrian,

Check this site out:

http://www.babypips.com
Patience + Humility + Study = Success
  • #1,335
  • Aug 1, 2007 1:04pm Aug 1, 2007 1:04pm
Thank you Dutch. I've been to the site but I was really asking more about what he looks at. How does he determine that it's not breaking to the next level that it's just hit resistance/support and going back up.
  • #1,336
  • Aug 1, 2007 1:07pm Aug 1, 2007 1:07pm
Quoting s3padrian
Thank you Dutch. I've been to the site but I was really asking more about what he looks at. How does he determine that it's not breaking to the next level that it's just hit resistance/support and going back up.
I have no idea, you'd have to ask him. Everyone has their system I guess he knows his like i know mine, from observation.
Patience + Humility + Study = Success
  • #1,337
  • Aug 1, 2007 1:29pm Aug 1, 2007 1:29pm
Quoting kreeper_6
Dove,

I appreciate the help that you provide me and others on this forum. It is great to get good advice and knowledge from the ones who really know what they are doing and saying.

Question.....

On your trade today, was it because of S3 that you decided to go in at 117.70? That is what I am seeing.
The reason I picked 117.70 for entry was, for me, a good time to get in…. The S3 is 117.13, BUT, there was one major factor stopping it from going on to the S3 and that is a major, major support at the 117.60. It hit the 117.60 and came to a dead stop and that was the end of that drive down. If it was going on to the S3 then the drive would had continue.

One of my indicators I use is a Linear Regression set on the right base and parameter running on the main chart. This LR is set up to make a crossing with one of my moving averages. When this happens a sweep begins and consolidation is taking place for a turn around. At this point I knew that any retraces that will occur during this turn around will only be to the support of 117.60…. And how did I know it was heading for the central pivot? The reason is because of the major support at the 117.60….. Any time the usd/jpy hits a major support or resistance it WILL return to where it came from provided it did not bust through.
The Dove - Forex Trainer
  • #1,338
  • Aug 1, 2007 1:47pm Aug 1, 2007 1:47pm
There was a couple of things that took place during this trade which is not important but will give you a little understanding of pivots.

While I was in this trade I had the 118.00 in focus because it is also a resistance and support at the same time. When the candle got above the 118.00 and started its retrace I took profit. At that point the consolidation was still in play so I waited until this retrace finished which it did at the 117.62.... The next candle had opened again at the 117.69 and my LR was under that candle which means, to me, the consolidation was finished and I was back in again at the 117.69. From there I just let it rode to the top.
The Dove - Forex Trainer
  • #1,339
  • Aug 1, 2007 1:50pm Aug 1, 2007 1:50pm
Quoting dreamplanet
This is a great post and Iam glad that people like you can help other people trade better

Iam a newbie, I have downloaded the Crown & Glory Calculator that you said, I have placed the pivots in and was wondering if I have done it right, any help appreciated, this is what I placed in


Open: 118.91
High: 119.49
Low: 118.28
Closed: 118.36

R1 = 120.35
R2 = 119.92
R3 = 119.14

Pivot Point = 118.71

S1 = 117.93
S2 = 117.5
S3 = 116.72

Is this right and what does it do?

Thanks for any help and sorry for my ignorance


Thanks
QUESTION:

Where did you get the numbers for the calculation? Because it is wrong.
The Dove - Forex Trainer
  • #1,340
  • Aug 1, 2007 1:53pm Aug 1, 2007 1:53pm
Aren't these numbers going to fluctuate depending on your broker and their market time?
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