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Help needed in OANDA + users from Malaysia 105 replies

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  • #2,901
  • Nov 28, 2007 10:24pm Nov 28, 2007 10:24pm
Quoting fxcritic
Ooops I didn't catch that.. Is it advisable to go long from here??
Following the 20wma and 30sma technique... should be the best price for BFD now. The bear touched 30 sma on M30 and touched 20wma on H1... it's also on the 50% Fibbo.

From FA... the news at 3pm will make CABLE FREE FALL if it gonna be RED. But that during London Open. Now Asian Session still. Since 20wma hasn't cross over 30 sma... I am sticking with BFD strategy.

Entered my LONG... with SL below 50% and 38.2% Fibbo. I am scalping here.

A.Y.O.R
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  • #2,902
  • Nov 28, 2007 10:31pm Nov 28, 2007 10:31pm
Quoting abbassi
Shams, do you incorporate the res. and support lines in your charts?
When I am scalping... sometimes I don't border much on the SUPPORT AND RESISTANCE line... got it in my mind anyway. Just don't wanna make the chart cluttered. I just follow 20wma and 30sma and Bollinger Band and FIBBO for my reference of SUPPORT and RESISTANCE during scalping. I also actively switch the chart on different time frame to get better ENTRY and EXIT position. When I go for MEDIUM TERM or LONG TERM trading... then I'll seriously consider SUPPORT & RESISTANCE lines.
  • #2,903
  • Nov 28, 2007 10:31pm Nov 28, 2007 10:31pm
Hi, every1. im new here, learn forex from few months ago....
now think wan to trade in live account...i use moving average to recognize a trend. Any comment?
im stay in jalan ipoh, anybody stay here?
may b v can trade together.
  • #2,904
  • Nov 28, 2007 10:34pm Nov 28, 2007 10:34pm
Quoting Malaysia
When I am scalping... sometimes I don't border much on the SUPPORT AND RESISTANCE line... got it in my mind anyway. Just don't wanna make the chart cluttered. I just follow 20wma and 30sma and Bollinger Band for my reference of SUPPORT and RESISTANCE during scalping. I also actively switch the chart on different time frame to get better ENTRY and EXIT position. When I go for MEDIUM TERM or LONG TERM trading... then I'll seriously consider SUPPORT & RESISTANCE lines.
I have basically been doing the same thing. I found this on Baby pips .com.
PIck of the Day: USD/JPY once again!

http://s7.addthis.com/button1-bm.gif
Posted 19:24 28 November 2007 by Pipcrawler
http://www.babypips.com/blogs/pick-o...7/PCPOD.ff.png
Greetings everyone! It looks like USD/JPY is giving us a nice setup for a swing trade after its counter trend correction today.
On the 4hr chart, it looks like sellers won out for now as we see an "almost" perfect doji candle at the psychologically significant level at 110.00. This also happens to line up with the 61% fibonacci retracement on the move from 111.71 to 107.19. One final confirmation is the stochastic oscillator in the overbought territory. This move may be overdone and we may see a return to the downtrend.
Now, my only concern for taking a short is the strong correlation the Yen has with US equities. We've seen a rally in US equities on speculation there will be another rate cut coming soon in the US, especially after Federal Reserve Vice Chairman Donald Kohn's comments today supported such speculation. This brought risk hungry traders back into equities and into the carry trade.
In my view, I think the recent rally is just a correction. I think the outlook of a economic slowdown will continue to weigh on the markets and that risk aversion will return. So, I will short here with a wide stop and hope the trend lower will continue.
Short USD/JPY at market (109.95), stop at 110.85, pt1 at 109.25, pt2 at 108.50
Remember to never risk more than 1% of your account on any single trade. Adjust position sizes accordingly!
Stay tuned, good luck and good trading!

Any Insight guys?
  • #2,905
  • Nov 28, 2007 10:39pm Nov 28, 2007 10:39pm
Quoting Malaysia
What about the market? Are you firm with decision or confuse with it too?

I just follow the market dynamics... the more dynamic the market psychology... the more dynamic my system gonna be.
Hi Shyam, I'm confuse with your entry. which timeframe, and 20wma or 30sma do u prefer the most for SFB and BFD entry?

I'm trying to learn FA, and I noticed that this yesterday news impact was RED ( 10:00am USD http://www.forexfactory.com/images/m...mpact_high.gif Existing Home Sales 4.97M 5.00M 5.03Mhttp://www.forexfactory.com/images/m...us_revised.gif) but in http://www.dailyfx.com/calendar, it showed ( USD USD Existing Home Sales (OCT) http://www.dailyfx.com/export/sites/...co-cal-Low.gif 4.97M 5.00M 5.03M )
For this case, which calendar is correct?
  • #2,906
  • Nov 28, 2007 10:42pm Nov 28, 2007 10:42pm
Quoting Malaysia
Following the 20wma and 30sma technique... should be the best price for BFD now. The bear touched 30 sma on M30 and touched 20wma on H1... it's also on the 50% Fibbo.

From FA... the news at 3pm will make CABLE FREE FALL if it gonna be RED. But that during London Open. Now Asian Session still. Since 20wma hasn't cross over 30 sma... I am sticking with BFD strategy.

Entered my LONG... with SL below 50% and 38.2% Fibbo. I am scalping here.

A.Y.O.R

So your not at all worried that the 1h candle came up to touch the 5 sma and that it broke the previous low from 3 hours ago. Also draw a fib on your 1 day chart and the top bounced off the 61% fib. So...........yes, I'm short right now.

cheers
  • #2,907
  • Nov 28, 2007 10:43pm Nov 28, 2007 10:43pm
Quoting petehor
Hi, every1. im new here, learn forex from few months ago....
now think wan to trade in live account...i use moving average to recognize a trend. Any comment?
im stay in jalan ipoh, anybody stay here?
may b v can trade together.
Just use MA??? Careful there Bro. Do you understand well how to calculate MA? It's a calculation on the current price with reference to the history price... most indis are. Hence, might be LAGGING or can't really tell the FUTURE projection. Try to add TREND LINES... TRIANGLE... CHANNEL... and other indis to confirm the market movement. You should have one ENTRY SIGNAL and then CONFIRMATION before making any move. Oppsss.... not trying to force you to do what I want. You might be MASTER at MA signal. Just and advice. Take it or leave it
  • #2,908
  • Nov 28, 2007 10:47pm Nov 28, 2007 10:47pm
Quoting MammaMia
Hi Shyam, I'm confuse with your entry. which timeframe, and 20wma or 30sma do u prefer the most for SFB and BFD entry?

I'm trying to learn FA, and I noticed that this yesterday news impact was RED ( 10:00am USD http://www.forexfactory.com/images/m...mpact_high.gif Existing Home Sales 4.97M 5.00M 5.03Mhttp://www.forexfactory.com/images/m...us_revised.gif) but in http://www.dailyfx.com/calendar, it showed ( USD USD Existing Home Sales (OCT) http://www.dailyfx.com/export/sites/...co-cal-Low.gif 4.97M 5.00M 5.03M )
For this case, which calendar is correct?
I don't see any problem there? They are just the same. About the Entry signal... Have to follow market psychology... very volatile or slow movement. The market is not RIGID ... why should you? That's why... have to be dynamic. Keep switching time frame... for better Entry. I make mistakes in entry as well... but my MM save me.
  • #2,909
  • Nov 28, 2007 10:58pm Nov 28, 2007 10:58pm
Quoting sleep1Iopen
So your not at all worried that the 1h candle came up to touch the 5 sma and that it broke the previous low from 3 hours ago. Also draw a fib on your 1 day chart and the top bounced off the 61% fib. So...........yes, I'm short right now.

cheers
You are right on medium term... but I am scalping I prefer SHORT later on today... depending on the NEWS.
  • #2,910
  • Nov 28, 2007 10:59pm Nov 28, 2007 10:59pm
MA, is good for trending market only. For ranging market, MA may not work...S&R needed for ranging.
"Invest With The Insiders, Not The Masses" George Muzea
  • #2,911
  • Nov 28, 2007 11:07pm Nov 28, 2007 11:07pm
Quoting Malaysia
Following the 20wma and 30sma technique... should be the best price for BFD now. The bear touched 30 sma on M30 and touched 20wma on H1... it's also on the 50% Fibbo.

From FA... the news at 3pm will make CABLE FREE FALL if it gonna be RED. But that during London Open. Now Asian Session still. Since 20wma hasn't cross over 30 sma... I am sticking with BFD strategy.

Entered my LONG... with SL below 50% and 38.2% Fibbo. I am scalping here.

A.Y.O.R
Yahoooo.... on the GREEN now Changing SL to 1 pip above entry price... I can relax now TP manually.
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  • #2,912
  • Nov 28, 2007 11:38pm Nov 28, 2007 11:38pm
Quoting Malaysia
Yahoooo.... on the GREEN now Changing SL to 1 pip above entry price... I can relax now TP manually.
Opsss... SL got hit. Another PIP banked in Should have taken out profit when the price was more than 10 pips higher. BAD BOY.... GREEDY
  • #2,913
  • Nov 28, 2007 11:41pm Nov 28, 2007 11:41pm
I am out now till London Open... Lunch time.... 1st Hayyaa'alalSolah!!! 2nd Hayyaa'alalFalah!!!
  • #2,914
  • Nov 29, 2007 12:02am Nov 29, 2007 12:02am
Annnnnndddddddd were off!!!
  • #2,915
  • Nov 29, 2007 12:42am Nov 29, 2007 12:42am
Quoting sleep1Iopen
Annnnnndddddddd were off!!!
Ayyaaaaa.... when I am off... just continue discussing laaaaa... don't wait for me. :

p/s: 20mins from the big news... might placing PO soon.
  • #2,916
  • Nov 29, 2007 12:42am Nov 29, 2007 12:42am
Dear fxcritic & Malaysia (this is a big responsibility you know for using the name "Malaysia". Just kidding),

Quoting fxcritic
I am not the thread owner. I am sure people with good advice, its encouraging especially to new commers are welcome anywhere. Hope to hear more from u.
glad to hear somebody is welcoming a newcomer. will do write a bit if time permits me to do so.

Quoting Malaysia
Thank you very much G33maroon Much appreciated. I was wondering also... he said that his sifoo advice him on MM about the 10% thinggy only. What about other MM? Entry... Exit... TP.... SL... TS... take loss. I was surprise with the 10% thinggy as well... don't really border commenting on it since he already got a sifoo. I just don't want him to get confused. Perhaps he'll learn from mistakes.
just to have a quick one..three things i would like to say..

First, its good to know that the Malaysian spirit is still very much alive.. so you have done an impressive job by running this thread (This i should have been saying in my 1st post).

2nd is that to let you know..Its me who need to thank you for not chasing me away . it was me who could not resist or compelled to respond (not to pick on Jackhalid..not trying to bash you) because i believe that "kalau boleh share kita share sikit-sikit, kalau silap saling ingat mengingati".

3rd, since we come from different background or walk of life, there maybe at times i may not or will not share similar view on a particular topic. hope you guys let me know, so that i wont get overboard.I will do my best to put some restraint to myself to follow the objective of the thread.

best regards to both of you.
I am bored..
  • #2,917
  • Nov 29, 2007 12:45am Nov 29, 2007 12:45am
thanks for the advice!!!!
trend lines & triangle is really useful.
im not the master in MA, i still need to learn from u all...
sham u r the sifu....
normally i use bollinger band for my S&R.....im a scraping trader
  • #2,918
  • Edited 1:12am Nov 29, 2007 12:50am | Edited 1:12am
Quoting petehor
thanks for the advice!!!!
trend lines & triangle is really useful.
im not the master in MA, i still need to learn from u all...
sham u r the sifu....
normally i use bollinger band for my S&R.....im a scraping trader
Sorry kawan... I am not a Sifu or Guru or Master... I am just a LEARNER and friend. I will consider myself a Sifu if I managed to survive and live on FOREX for more than 10 years! Then... I can brag about being a SIFU :
  • #2,919
  • Nov 29, 2007 1:00am Nov 29, 2007 1:00am
Already went SHORT with SL at 2.0765. On that SL I put PO Buy STOP

Ready for the FREE FALL.... hopefully the RED NEWS gonna come out... pleaseeeee.... This is my SPECULATION out of my FA.

A>Y>O>R
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  • #2,920
  • Nov 29, 2007 1:07am Nov 29, 2007 1:07am
Quoting Malaysia
Already went SHORT with SL at 2.0765. On that SL I put PO Buy STOP.

Ready for the FREE FALL.... hopefully the RED NEWS gonna come out... pleaseeeee.... This is my SPECULATION out of my FA.

A>Y>O>R
3:00pm GBP http://www.forexfactory.com/images/m...mpact_high.gif Nationwide House Prices m/m -0.8% 0.1% 1.1%

Really RED NEWS!!!!!! Yahoooooooooooooo..... Deleting my PO Buy STOP and enjoying the FREE FALL. Changing SL to 10pips below entry price.

The 50% Fibbo is the obstacle now. Come on BEAR... BREAK IT!!!!
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