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  • #221
  • Oct 28, 2007 2:40pm Oct 28, 2007 2:40pm
Quoting johnedoe
Also remember we have a lot of news comming out this week on wednesday and thursday that is dollar related, certainly some volitility then.......
Welcome johnedoe to the thread!
It's nice to see you here too

I was thinking avout next week news, and that the fact that there's no significant news on Monday and Tuesday will give EU some way to retrace and breath a little before the important Interest rate statement on Wednesday.

Probably some good opportunity to go long as per the setups I previously posted if supports holds.

Happy pips harvesting week johnedoe,

Hani J
  • #222
  • Oct 28, 2007 11:56pm Oct 28, 2007 11:56pm
Another YTD high for both Pivot level @1.4378 and EU price since it hit 1.4420 overnight.

My first sell trigger is hit with the gap up so I prepare to sell big with in the coming 1-2 hours targeting 1.4380 or 15-20 pips.

Then I will watch for a break down of this level and sell the bounce back (It may be a quick one) targeting 1.4310-15, 1.4260 and 1.4200 where I will search to buy if supports are solid.

Remember, today and tomorrow no significant news for the EU, so BD may easily strike again to hit many stops and collect some profits

Plenty of pips for all!

Hani
  • #223
  • Oct 29, 2007 12:46am Oct 29, 2007 12:46am
Hi Hani

Just catching up on your fantastic set-ups for the past few days. I missed it all as I have been working away from home (with no internet access).
Well done!

Regards,

Lee
  • #224
  • Oct 29, 2007 1:19am Oct 29, 2007 1:19am
Quoting Bakuli
Hi Hani
Quoting Bakuli

Just catching up on your fantastic set-ups for the past few days. I missed it all as I have been working away from home (with no internet access).
Well done!

Regards,

Lee


Hi Lee,

As I told you, start trading with the live accounts I sent you using the smallest unit available (1$) as per the strategy:

1-Don't follow my trades blindly.
2-Plan your trades.
3-Know why you are entering, when and where you will exit.
4-Take small but consistent profits.

Your account will grow to pass to Step 2 in few months.

Trading is a question of patience and consistency.

Happy pips harvesting,

Hani
  • #225
  • Oct 29, 2007 1:54am Oct 29, 2007 1:54am
Quote
Hi Lee,

As I told you, start trading with the live accounts I sent you using the smallest unit available (1$) as per the strategy:

1-Don't follow my trades blindly.
2-Plan your trades.
3-Know why you are entering, when and where you will exit.
4-Take small but consistent profits.

Your account will grow to pass to Step 2 in few months.

Trading is a question of patience and consistency.

Happy pips harvesting,

Hani


Hi Hani

I am learning by observing how and why you took those trades rather than following it blindly. I look at your set ups and try to understand your mindset from accompanying explanations. There is so much one can learn from quiet observation and analysis.

Best wishes
Lee
  • #226
  • Oct 29, 2007 2:10am Oct 29, 2007 2:10am
Quoting haniam
Another YTD high for both Pivot level @1.4378 and EU price since it hit 1.4420 overnight.

My first sell trigger is hit with the gap up so I prepare to sell big with in the coming 1-2 hours targeting 1.4380 or 15-20 pips.

Then I will watch for a break down of this level and sell the bounce back (It may be a quick one) targeting 1.4310-15, 1.4260 and 1.4200 where I will search to buy if supports are solid.

Remember, today and tomorrow no significant news for the EU, so BD may easily strike again to hit many stops and collect some profits

Plenty of pips for all!

Hani
Trade 1: Sold 12 lots @1.4421 closed 1.4414 for +7 pips x 12 lots = +94 pips

Trade 2: Sold 12 lots @1.4422 closed 1.4415 for +7 pips x 12 lots = +94 pips

Reason:
1- Price bounces on 1.4425 level
2- Prices too high, low buying!

Reason close: Very high leverage. Take profit should be quick. Prices not ready to go down yet.

Will sell again higher.
  • #227
  • Oct 29, 2007 2:35am Oct 29, 2007 2:35am
How many times have you made lot of wins in a demo account and start losing once you switch to a live account?

From my part, I started this way doubling my demo account in less than 1 month, and blowing 2 live accounts 3K each in less than a week!

Why?

Because BD lied to me.

They told me that trading was easy, just some clicks away and here it is.
They told me that they will give me a 50K FREE demo account so I try with NO risk.
They told me that I will have instant execution.
They told me that there were only 2-3 pips spread for currencies
...

But

They never told me that when I fund my account and go live, I will have to deal with my emotions and start trading totally differently than I did in my demo account.

They never told me that I should do a strict Money Management (MM) to my account or I will surely lose in the longer term.

They never told me that trading just one month will never reflect market habits and traders behaviors to different news.

They never told me that they will try to fit me at best in my demo so I win as possible and do the contrary in my live account.

They never told me that during the high rush of traders they will freeze their servers, hunt my stops and others weird manipulation to take my money.

BD lied to me.

They did the same to you.

They are still doing it.

But I stopped to believe their lies.

This is how I am making money from Forex!

Stop using demo account to learn trading. You will not.
You will deal differently with demo accounts and live accounts

Use demo account to familiarize with your broker trade station interface.
Use demo account to test some of your new strategies.
But go live to learn trading.

Many brokers will give you when you open a live account with real dollars so you trade with before funding your account. Profit from them to learn trading live.

My advice: Stop using demo account to learn trading. You will not.
  • #228
  • Oct 29, 2007 2:55am Oct 29, 2007 2:55am
Quoting haniam
Trade 1: Sold 12 lots @1.4421 closed 1.4414 for +7 pips x 12 lots = +94 pips

Trade 2: Sold 12 lots @1.4422 closed 1.4415 for +7 pips x 12 lots = +94 pips

Reason:
1- Price bounces on 1.4425 level
2- Prices too high, low buying!

Reason close: Very high leverage. Take profit should be quick. Prices not ready to go down yet.

Will sell again higher.
Trade 3: Sold 12 lots @1.4425 closed 1.4423 for +2 pips x 12 lots = +24 pips

Reason:
1- Price bounces on 1.4425 level
2- Slow connection. It should have closed @1.4420

Reason close: Very high leverage. Take profit should be quick. Prices not ready to go down yet.

Trade 4: Sold 12 lots @1.4435 closed 1.4428 for +7 pips x 12 lots = +94 pips

Reason:
1- Price bounces on 1.4435 level
2- Prices too high, low buying!

Reason close: Very high leverage. Take profit should be quick. Prices not ready to go down yet.

Will sell again higher.
  • #229
  • Oct 29, 2007 9:15am Oct 29, 2007 9:15am
Quoting haniam
Trade 3: Sold 12 lots @1.4425 closed 1.4423 for +2 pips x 12 lots = +24 pips

Reason:
1- Price bounces on 1.4425 level
2- Slow connection. It should have closed @1.4420

Reason close: Very high leverage. Take profit should be quick. Prices not ready to go down yet.

Trade 4: Sold 12 lots @1.4435 closed 1.4428 for +7 pips x 12 lots = +94 pips

Reason:
1- Price bounces on 1.4435 level
2- Prices too high, low buying!

Reason close: Very high leverage. Take profit should be quick. Prices not ready to go down yet.

Will sell again higher.
Trade 5: Sold 2 lots @1.4432 closed 1.4411 for +21 pips x 2 lots = +44 pips

Reason:
1- Price bounces on 1.4435 level
2- Prices too high, low buying!

Reason close: TP of 20 pips hit. I am away from my trading tools for few hours.

Pivot level is now under test and selling is not recommended.
It will most probably be broken later, so will sell a bounce back targeting 1.4350

A retrace up to 1.4400 is under way now. May sell very small targeting 10-20 pips
  • #230
  • Oct 29, 2007 10:32am Oct 29, 2007 10:32am
Welcome Marcy to the thread,

I replied to you about the requested brokers in your private message.
Hope you will make safe live trading with you free $ so they grow.

Remember that the Money Management is the main issue to grow your account.

Safe trading,

Hani
  • #231
  • Oct 29, 2007 10:47am Oct 29, 2007 10:47am
Quoting acidguy
Hi Hani.
Quoting acidguy

i just was noticing and studying how you manage to make most of your trades and you seems to be somehow risky sometimes in your scalping.

its like scalping against the trend cause i share the thing with you currency market for some reason is being manipulated it a lot of lately for some kind of purpose.

the thing is, can you explain me how do you realize when to enter in a trade? which indicator do you rely on.

thx, i want to learn a little bit about your style.


Hi acidguy,

I am not kind of scalp trading, even if my latest trades where scalping like ones. You may retake a look at p#193 for risk analysis.

But EU is lately refusing to swing as it used to be, pushing higher and higher for the moment.

However, since it is making new highs with such difficulties, having long time stops on every new 20-30 pips high, I am profiting of these new conditions of the market to sell high and collect even more pips than before.

By reading all the posts of this thread, you will notice that usually I take for 20-50 pips in normal market conditions selling 1 to 2 lots with an R:R of 1:1 up to 1:4.

I start by defining every day a trading plan for every currency (I post only the EU online), finding my Pivot levels, support and resistance, trendlines, then analyzing the market and defining where to enter and where to exit.

After each trade, I reevaluate what have been done, what to expect and what is to be done next.

So the key of trading is an excellent money management and a consistent discipline in following the plan.

Hope this helps,

Hani
  • #232
  • Oct 29, 2007 11:05am Oct 29, 2007 11:05am
Quoting haniam
Trade 5: Sold 2 lots @1.4432 closed 1.4411 for +21 pips x 2 lots = +44 pips

Reason:
1- Price bounces on 1.4435 level
2- Prices too high, low buying!

Reason close: TP of 20 pips hit. I am away from my trading tools for few hours.

Pivot level is now under test and selling is not recommended.
It will most probably be broken later, so will sell a bounce back targeting 1.4350

A retrace up to 1.4400 is under way now. May sell very small targeting 10-20 pips
Trade 6: Sold 2 lots @1.4400 targeting 1.4380

Reason:
1- Price bounces on 1.4405 level 50% retracement from current highs to pivot level
2- Prices ranging but pression down!

Trade 7: Sold 2 lots @1.4415 targeting 1.4380

Reason:
1- Price bounces on 1.4416 level 68% retracement from current highs to pivot level
2- Prices ranging but pression down!
  • #233
  • Oct 29, 2007 11:42am Oct 29, 2007 11:42am
Read in Odom and Frey Newsletter

EUR/USD:

The Euro continues to rally against the dying Dollar.

The ECB has whispered that 1.45 on the Euro would be a potential point at which they would intervene.

So it looks as if the market is pushing up to that point to test the resolve of the ECB. The trend remains up but be careful as a correction should be right around the corner.
  • #234
  • Oct 29, 2007 10:35pm Oct 29, 2007 10:35pm
Quoting haniam
Trade 6: Sold 2 lots @1.4400 targeting 1.4380

Reason:
1- Price bounces on 1.4405 level 50% retracement from current highs to pivot level
2- Prices ranging but pression down!

Trade 7: Sold 2 lots @1.4415 targeting 1.4380
Trade 6: Sold 2 lots @1.4400 closed @1.4399 for 1x2 = +2 pips
Trade 7: Sold 2 lots @1.4415 closed @1.4410 dor 5x2= +10 pips
Trade 8: Sold 2 lots @1.4419 closed @1.4396 dor 20x2= +40 pips
Trade 9: Sold 1 lots @1.4425 closed @1.4394 dor 21x1= +21 pips

Rason close: Over night take profit. Will sell again in few hours
  • #235
  • Edited 2:00am Oct 30, 2007 1:56am | Edited 2:00am
EU behaved yesterday near enough as expected. The 1.4378 break did not happen, protecting it from a new down until now.

Plenty of pips shorting the dollar as planed.

9 trades for +94+94+24+94+44+2+10+40+21 = +423 pips for 100% success rate and very low risks even if this may be called counter trending.

I used many style from scalping kind (Not really scalping or I would have much more pips but I prefer not to enter into a debate with my broker), to waves riding.

This was a day example to show that you can make pips whatever way you trade.
I am sure lot of traders did make lot of pips buying the EU.

And I am sure lot of other traders did lose pips in both ways, whatever the style they are using…

My advice: It is not important the way you trade, it is important to be on the winning side of the trade, and to book your winnings!
Attached Image
  • #236
  • Oct 30, 2007 2:09am Oct 30, 2007 2:09am
Pivot for today @1.4405

Broken earlier today, and the test of the pivot has rejected the prices.
Today, I expect test of the lows but 1.4378 should be broken first.

I may sell a little at the pivot level if retested and prices bounces (PB), or wait the break of 1.4378 to sell a bounce back targeting 15-25 pips first. We may have many interim supports at 1.4365, 1.4345, 1.4330 and 1.4315 before.

Taking small profits (15-25 pips) and selling back may be a good strategy for today.

The speculation about the cut of interest rates is maintaining the dollar at these high levels, and I expect tomorrow to see lot of volatility after the announcement, more to down than up.
  • #237
  • Oct 30, 2007 6:19am Oct 30, 2007 6:19am
In October, I took EU currency as an illustration for BD manipulations and anti BD trades. At the end of the month, I will try to do some statistics to see how many trades I have done live and the win/lose ratio with the number of pips harvested.

I had some questions about carry trades, so I thought to take this subject for November 2007 to illustrate BD manipulations with the USDJPY pair as illustration.

Below is an excellent presentation about carry trades explaining what they are, why they are happening and events to watch. I would advise at least to listen to 15-20 minutes of this presentation as the rest may be a little difficult to follow by beginners.

The Currency Carry Trade – Understanding the impact on currency exchange rates by Jack crooks

You will see that the EUR/JPY is 34% over evaluated and it's value should be more around 119, but this has no effect now on the fact that it is a pair that is in an uptrend. Just that an eventual unwind can go very low! So don't forget safe hard SL when you trade 'carry trades' pairs.


I will still post from time to time about EU, but it will not any more be the main focus subject.
  • #238
  • Edited Oct 31, 2007 12:12am Oct 30, 2007 3:22pm | Edited Oct 31, 2007 12:12am
Quoting haniam
Pivot for today @1.4405

Broken earlier today, and the test of the pivot has rejected the prices.
Today, I expect test of the lows but 1.4378 should be broken first.

I may sell a little at the pivot level if retested and prices bounces (PB), or wait the break of 1.4378 to sell a bounce back targeting 15-25 pips first. We may have many interim supports at 1.4365, 1.4345, 1.4330 and 1.4315 before.

Taking small profits (15-25 pips) and selling back may be a good strategy for today.

The speculation about the cut of interest rates is maintaining the dollar at these high levels, and I expect tomorrow to see lot of volatility after the announcement, more to down than up.
Slow day with 60 pips range. Some opportunities for some 10-20 pips with low risk. Selling the bounce back of pivot level would have gave 15-20 pips for 2 different trades @8:00 GMT and 11:20 GMT

I only did 2 trades I closed right now since I was away for some hours.

Trade 1: Sold 2 lots @1.4438 closed @1.4432 for 6x2 = +12 pips
Trade 2: Sold 25 lots @1.4439 closed @1.4434 for 5x25 = +125 pips

Reason: Price too high testing YTD. Resistance not expected to break
Reason close: Minor support bounce. Hi leverage trades.

Total Tuesday 30, 2007 : +137 pips
  • #239
  • Edited 8:55pm Oct 30, 2007 8:53pm | Edited 8:55pm
Quote
I only did 2 trades I closed right now since I was away for some hours.

Trade 1: Sold 2 lots @1.4338 closed @1.4332 for 6x2 = +12 pips
Trade 2: Sold 25 lots @1.4339 closed @1.4334 for 5x25 = +125 pips

Reason: Price too high testing YTD. Resistance not expected to break
Reason close: Minor support bounce. Hi leverage trades.

Total Tuesday 30, 2007 : +137 pips


Hi Hani
There is an error in your trade prices. The lowest the Euro got to on tues was 1.4373, so nowhere near the two prices you said you sold at ie 1.4338 and 1.4339. Did you mean to type 1.4438 and 1.4439 instead ? Needed to point it out otherwise this will cause confusion for readers.

Regards,
Lee
  • #240
  • Oct 30, 2007 9:00pm Oct 30, 2007 9:00pm
nice thread haniam, keep it going
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