down trend gap even now
now some ranting...
from the fundamental point of view - the congress had passed the bill. somebody posted this as a fundamentally bullish info. isn't it bearish?? bailouts will weaken the dollar, since more and more public money will be needed. I do not see in the nearest future any increase in taxing the americans (btw low taxed compared to the eu) - but the money will be needed. so there will be more new money.
But remember, European banks are in the same boat as U.S. in the default loans. They purchased even more then we have. Euro and U.K. banks will benefit from U.S. stopping the bad loans. Matter of fact I'm sure their Central Banks were praying this would pass.
somebody posted that the e/u will be bearish, strenghtening the dollar
and I think it will weaken it. sorry for the mismatch 
--
just a simple trend follower
- #16,247
- Jul 27, 2008 4:46pm Jul 27, 2008 4:46pm
- Joined Sep 2006 | Status: Trader | 2,272 Posts
its just money
- #16,248
- Jul 27, 2008 4:59pm Jul 27, 2008 4:59pm
- | Joined Dec 2007 | Status: Trader | 2,797 Posts
WOW!!!
Nether do I...
Isn't it buy as the market is going up and sell as it goes down??
Agreed Let it ride.
Do what I do, scan most, read the interesting or intelligent ones and laugh. Post a few relative bits or answer an intelligent question or two. Realize most traders here like the low time line charts and are not long time line traders. Most of the traders I have respect for when I started reading this thread have left because of this very reason. And I am almost there.
Like the market, to much noise.
I like the poker analogy, reminds me of an old saying...
"If your playing poker and you are looking for the patsy and you don't see one, Your the patsy!"
What's an indicator? Oh you mean those colored distraction lines?
AMEN BROTHER!!
Lately I have been averaging 3-4 trades over 2 weeks, 1 looser in last 8 weeks and still up 400 pips in last 8 weeks.
So you are looking for 18 pips but will let is go 32 against you. How does that money management work? You better be right 100% of the time with that risk reward ratio. If you are going for 18 pips your stop better not be more than 8. Your ratio is really messed up. As said earlier this is not the time to be going short. the time for that was at 1.5800 or so. Why do you wait for it to move down a long ways to start selling? This is not a sell setup. I just don't get it. You sell as the market is going up , and buy as the market is going down. That is how the proffessionals do it.
Isn't it buy as the market is going up and sell as it goes down??I just shake my head when I hear this stuff. Then realize that that is why 95% Of traders lose. They don't do the right things at the right time, then don't follow the number one rule in trading let your profits ride and cutt your losses short.
I haven't been on this forum long, and i get trashed alot of the time for my posts, but some of you should actually listen I am trying to help. I don't want to sound harsh but most of you don't have a clue how this market really works. Until you learn how the market really works its an uphill battle. You have to change your mindset.
Like the market, to much noise.this is just like a giant no limit poker game with Johnny Chan and Doyle Brunson. When they play poker they wait for people to put there money in at the wrong time and then they pounce. They will wait all day if they have to, but when they get there chance they take it. That is why they are good at what they do. This market is no different you are playing against people that want and will take your money everytime. They will wait all day or all week. They will get you on the wrongside of the trade, and then they will pounce. Now for all of those who say they don't care about small time traders thats bs.
"If your playing poker and you are looking for the patsy and you don't see one, Your the patsy!"
they use the very indicators you use against you. Why is it so hard for some of you to understand that? You don't think they know exactly how you trade? Oversold overbought bla bla bla.
learn how to read a chart and figure out what is really going on behind price. If you are starting to sell after a currency has already dropped 150 200 pips you are going to be hiking uphill all day. I have been trying to tell you guys this for months, but you don't listen.
Hope your trades go well this week. I will continue to take my 3-4 trades a week. i refuse to sit in front of my computer all day getting in and out of trades. I will wait for the market to come to me. patience and persistance is the name of the game.
- #16,250
- Jul 27, 2008 5:10pm Jul 27, 2008 5:10pm
- | Joined Dec 2007 | Status: Trader | 2,797 Posts
forexpert[/b];2130601]Could some of you do some research for the statistics and standings of both worlds (Euro and US) please? I am sure some of you will shed some light on how economy drives exchange rates. This will help us determine whether EURO will go up or down next week. We, as a community, need to be well informed to be successful in trading. Thanks.
Name: forexpert
Status: Forex Advisor (usually says member or some such thing)
Why not do your own research?
If you are a "Forex Advisor" you should know such things!
If you are are trading your account you are responsiable in making your own decisions.
I'm all for helping but the trader has to learn to make their own decisions.
- #16,252
- Jul 27, 2008 5:14pm Jul 27, 2008 5:14pm
- | Commercial User | Joined May 2008 | 1,334 Posts
WOW!!!
Nether do I...
Agreed Let it ride.
Do what I do, scan most, read the interesting or intelligent ones and laugh. Post a few relative bits or answer an intelligent question or two. Realize most traders here like the low time line charts and are not long time line traders. Most of the traders I have respect for when I started reading this thread have left because of this very reason. And I am almost there.
I like the poker analogy, reminds me of an old saying...
"If your playing poker and you are looking for the patsy and you don't see one, Your the patsy!"
What's an indicator? Oh you mean those colored distraction lines?
AMEN BROTHER!!
Lately I have been averaging 3-4 trades over 2 weeks, 1 looser in last 8 weeks and still up 400 pips in last 8 weeks.
My favorite is from Rounders. " listen if you can't spot the sucker at your first half hour at the table then you are the sucker"
This market isnt a game to me. This is how i put food on the table for my family. This is a buisness it isnt playtime. That is why I have taken a longer term approach to trading. I get sleep that way and get to spend time with my wife and kids. That is the most important thing to me how do i be able to spend time with them. By being patient in this market and letting it come to you. taking less trades letting them ride. It's a whole new ballgame when you can get to a point where you dont care about a trade. Win some lose some it doesnt matter do you have the guts to step up to the plate and take the trade again. The next one might get it all back and then some.
- #16,259
- Jul 27, 2008 8:04pm Jul 27, 2008 8:04pm
- Joined Nov 2007 | Status: Trying manual mode again | 2,210 Posts
- #16,260
- Jul 27, 2008 8:25pm Jul 27, 2008 8:25pm
I do not trade based on the time of the day. I trade based on when my trade setups appear. If it happens to be during asia, so be it. If I didn't I would have missed a really nice entry about 730 pm eastern on gbpjpy worth about 120 pips.
There are fewer set ups during asia but when they do show they hold as much merit as any other time.
I did take a $50,000 account to $400,000 with the simplicity. What set-ups do you use?