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Daily Cable Analysis

  • #3,081
  • Jan 22, 2007 3:37pm Jan 22, 2007 3:37pm
I was bored and came up with all the lows...lol

16th low 9589
17th low 9608
18th low 9634
21st low 9694
22nd low 9715 so far

it just keeps on rising
if anyone knows if we can do anything with these #'s let me know will ya.
trading on demo is not trading
  • #3,082
  • Jan 22, 2007 3:42pm Jan 22, 2007 3:42pm
moonchildQuote:
Originally Posted by enzo2325 http://forexfactory.com/images/buttons/viewpost.gif
59fender...no need for sarcasm ;0

we should get a lil ride down right now. 4 hour charts signals crossed on rsi and stochastic and macd.

im calling it a day.. Im no longer trading on mondays or Sundays. See you guys tom.


Today is so odd that I am not sure that tomorrow will be better. How can you be so sure that it will be better?



Cause these 2 days the market is figuring out where it wants to go and its to confusing for me. If you read anywhere about what days are the best to trade sunday and mondays are left out because there is not much volume and they are the best days to loose money. Im not down for that. I wanted to see for myself and there are a lot of ways to loose money because things are choppy. no volume, no patience, fustration these will all equal bad trading because I just hate things that are slow. Especially these damn tourists here in orlando, FL.
trading on demo is not trading
  • #3,083
  • Jan 22, 2007 3:57pm Jan 22, 2007 3:57pm
do you think we will see some movement to the upside on Wed. after the GDP news and the BOE meeting minutes? could the market be waiting for these announcements causing the low volume?
  • #3,084
  • Jan 22, 2007 4:10pm Jan 22, 2007 4:10pm
Quoting rhasson
do you think we will see some movement to the upside on Wed. after the GDP news and the BOE meeting minutes? could the market be waiting for these announcements causing the low volume?
Hard to tell... What is intriguing to me is that 9722 was a hard support on Friday and today, fights, bounces, granades, AK-47, maybe even the Queen showed up and THE LAST 4hr candle to close below 9722 was Friday's 12:00GMT.

However, the price didn't fight on the upside. A bouce at the 9780s today reported as related to rumors of an US carrier departing to the Gulf... Don't know if this was the reason, was the only reason I heard.

If I have to pick a side, I pick "up".
  • #3,085
  • Jan 22, 2007 4:22pm Jan 22, 2007 4:22pm
should find support @1.9718
  • #3,086
  • Jan 22, 2007 4:32pm Jan 22, 2007 4:32pm
Quoting cesarnc
Hard to tell... What is intriguing to me is that 9722 was a hard support on Friday and today, fights, bounces, granades, AK-47, maybe even the Queen showed up and THE LAST 4hr candle to close below 9722 was Friday's 12:00GMT.

However, the price didn't fight on the upside. A bouce at the 9780s today reported as related to rumors of an US carrier departing to the Gulf... Don't know if this was the reason, was the only reason I heard.

If I have to pick a side, I pick "up".
Hi my friend, how are u?

I think better set support on 1.9700 and resist on 1.9780
  • #3,087
  • Jan 22, 2007 4:56pm Jan 22, 2007 4:56pm
I think the market will be back to normal by tonights london open. it just needs to rest and there is nobody to push it. As of now I see it going down because retracement is coming into play. 9706 tp
trading on demo is not trading
  • #3,088
  • Jan 22, 2007 5:01pm Jan 22, 2007 5:01pm
I analyze charts, price data, news info, and many other technical indicators on an average of 12 hours a day - 6 days a week, but there is a problem that face traders that only use the technical analysis, and cannot make profits on a daily basis.

The goal of every trader is to make profits, this is the purpose we spend hours in front of charts, calculators, and threads - to learn to trade!

We spend hours making predictions and what we feel is going to happen, over and over we try to pin-point exact locations, and that is good.

I can usually pin-point the price Highs and Lows, and the range the price will hit, before turning using the study guides and analysis I have been working with for a long time.

Back to the real purpose everyone is interested in FOREX......
............................. that is the $$$.

The question I ask every one who visits this thread, are you making money?

Are your winning percentages greater than your losing percentage?

Are you upset with the outcome of your trade positions, do you get depressed at times because of the lack of discipline your displaying in your trading habits.

No this is not a sales pitch, just a small reminder of the importance we need to place upon each trade we make. It is not how many times we enter and exit the market, but it is about the one trade that were in right here and right now.

I traded 1 time in a 1 hour period last night and cleared 14 pips, why would we want to do anything else if were making that kind of money.

Every day there is possibilities for only making winning trades, and with little, o no draw down, like the longer term or day trades.

You may say, 14 pips, that is not a lot of money!

But lets look at the actual profits on these small pips:

14 pips
X 10 Mini Lots = 140.00
X 50 Mini Lots = 700.00
X 10 Standard Lots = 1,400.00
X 50 Standard Lots = 7,000.00

Examine yourselves, and question every position you have made so far this year. Am I making profits, or am I just wasting time?

That is my thought for today.

Hope every trader is making great profits.
  • #3,089
  • Jan 22, 2007 5:04pm Jan 22, 2007 5:04pm
Quoting obeewon
i am not in the habit of picking tops 9730-9780 GU seems to have trouble penetrating this area. does anyone else see this???

i posted this comment several pages back last week. this morning 1/22 (430-5am est) i also posted that we were on the verge of an up trend but that the 1hr chart divergence to the downside was still in play. as i look at the chart now the dirvergence has worked its self off and is may no longer be in play. the uptrend on the 1hr is starting to unfold and we may see a move upward to at least 9800 and maybe more 9840 i think during the Euro-US session if not then then in comming days of this week. i think there will be a small pullback to 9730 handle and maybe 9718 before a move upwards. on the macd there is alot of room to the upside so this may be the prervailing trend for the comming weeks...... my 2 pips
  • #3,090
  • Jan 22, 2007 5:07pm Jan 22, 2007 5:07pm
Quoting monarch
I
You may say, 14 pips, that is not a lot of money!

But lets look at the actual profits on these small pips:

14 pips
X 10 Mini Lots = 140.00
X 50 Mini Lots = 700.00
X 10 Standard Lots = 1,400.00
X 50 Standard Lots = 7,000.00

yes i agree 14 pips is very good if you had huge deposit

but if you loss then

X 10 Mini Lots = -140.00
X 50 Mini Lots = -700.00
X 10 Standard Lots = -1,400.00
X 50 Standard Lots = -7,000.00

  • #3,091
  • Jan 22, 2007 5:11pm Jan 22, 2007 5:11pm
Quoting viking
yes i agree 14 pips is very good if you had huge deposit

but if you loss then

X 10 Mini Lots = -140.00
X 50 Mini Lots = -700.00
X 10 Standard Lots = -1,400.00
X 50 Standard Lots = -7,000.00
Based on my 5 days of trading the biggest loss I had was a - 0, the rest were all winners.

So let say 4 out of 5 were winners, that is easy enough. that means you made 3 winners for the week. Still nice profits, maybe a little less.

Add that up, and your making profits, and I am not just saying it can happen, but it is happening.

If your losing 3 or 4 out of 5 - quit and go back to a demo!
  • #3,092
  • Jan 22, 2007 5:18pm Jan 22, 2007 5:18pm
Quoting monarch
Based on my 5 days of trading the biggest loss I had was a - 0, the rest were all winners.

So let say 4 out of 5 were winners, that is easy enough. that means you made 3 winners for the week. Still nice profits, maybe a little less.

Add that up, and your making profits, and I am not just saying it can happen, but it is happening.

If your losing 3 or 4 out of 5 - quit and go back to a demo!
hey man

am talking about risk of each trade , yes maybe totaly we can make profit ... but nothing will be 100% ....
  • #3,093
  • Jan 22, 2007 5:21pm Jan 22, 2007 5:21pm
I do pretty much the same. I have identified 16 trading zones beginning with Asian open on Sunday going thru the US close on Friday. My goal is to catch 10 of these a week and harvest 1 good trade on each with a minimum profit of 10 pips each. When I reach 10 pips I move my stop loss to +10 and let it ride. This has helped me focus on my scalping activities.


Quoting monarch
Based on my 5 days of trading the biggest loss I had was a - 0, the rest were all winners.

So let say 4 out of 5 were winners, that is easy enough. that means you made 3 winners for the week. Still nice profits, maybe a little less.

Add that up, and your making profits, and I am not just saying it can happen, but it is happening.

If your losing 3 or 4 out of 5 - quit and go back to a demo!
Trade what you see - Not what you think
  • #3,094
  • Jan 22, 2007 5:21pm Jan 22, 2007 5:21pm
Quoting monarch

The goal of every trader is to make profits, this is the purpose we spend hours in front of charts, calculators, and threads - to learn to trade!
I made myself 17 pips on 1 scalp during the whole day. No point in risking this precious little profit in a market like today's. I lost other two opportunities to do the same - I chickened :- , but there's always another one "right around the corner", as Leugimp says.

I learned that it is the market and our strategies that give us profits, not us, by wishing. My strategy was not triggered the way it was supposed to because of the market behavior. I just scalp those pips to get paid for watching this boring move of today, as I said previously....
  • #3,095
  • Jan 22, 2007 5:29pm Jan 22, 2007 5:29pm
Quoting viking
hey man
Quoting viking

am talking about risk of each trade , yes maybe totaly we can make profit ... but nothing will be 100% ....


I agree, not every thing is 100%, but I said if I profit 3 out of 5 = 60%, I am still making more profits than I am losing.

That would be a worst case scenario, you should be doing better than that.

The secret is makingg the right trade, and placing the same lot size upon every trade you make.

I am only making 1 trade per day, I am not going to waste it on someone's idea, or comment of where they think its going to go.

I am trading on a "proven strategy" that I have worked back and forth for a long time.

100%, I don't think I can hit 100%, but I have been 100% wrong before.

This is only averages we are talking about, it is the same if your trading $1.00 or $500.00 per lot.

The most important average is your win-loss ratio!
  • #3,096
  • Jan 22, 2007 5:32pm Jan 22, 2007 5:32pm
Quoting summitfx
I do pretty much the same. I have identified 16 trading zones beginning with Asian open on Sunday going thru the US close on Friday. My goal is to catch 10 of these a week and harvest 1 good trade on each with a minimum profit of 10 pips each. When I reach 10 pips I move my stop loss to +10 and let it ride. This has helped me focus on my scalping activities.
Are you speaking of 16 trading zones per Currency, or 16 zones for all currencies you are watching?

I like the idea of reaching the 10 pip and putting a stop loss at +10, I think tonight I will place 1 Lot on my trade specifically with this scenario, could help with the profits.
  • #3,097
  • Edited 5:44pm Jan 22, 2007 5:34pm | Edited 5:44pm
Zones for all currencies but I like to focus on the JPY crosses during Asian session and GBP london and so forth. Primarily the open- If I get my target right away I'm done

[quote=monarch;194460]Are you speaking of 16 trading zones per Currency, or 16 zones for all currencies you are watching?
Trade what you see - Not what you think
  • #3,098
  • Jan 22, 2007 5:43pm Jan 22, 2007 5:43pm
It happens all around us..... the 250 EMA is bounced on the 5 minute at 1.9751, we take a buy position, price rises to 1.9766 in 40 minutes and there you go ------- 10 pip scalp is clear.

Why are we waiting for some system to tell us to go, when the system has presented itself in the form of PRICE.

that was for fun, I will trade more serious later.

See you at the Frankfurt.
  • #3,099
  • Jan 22, 2007 5:49pm Jan 22, 2007 5:49pm
Quote
The most important average is your win-loss ratio!

Risk/reward is pretty darn important, too..

Looks to be an up day tomorrow (at least for me; long term). I've been long since 1.9643, and expect it to continue based on pivots and RSI.

Good luck
  • #3,100
  • Jan 22, 2007 6:10pm Jan 22, 2007 6:10pm
LONDON - Is the midwinter weather wearing you down? Are you sinking in debt after the holidays? Angry with yourself for already breaking your New Year's resolutions? Wish you could crawl back under the covers and not have to face another day of rain, sleet, snow and paperwork? Probably. After all, it's Jan. 24, the “most depressing day of the year,” according to a U.K. psychologist.

Quoting moonchild
Today is so odd that I am not sure that tomorrow will be better. How can you be so sure that it will be better?
Trade what you see - Not what you think
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