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EURUSD

  • #16,781
  • Jul 30, 2008 1:09am Jul 30, 2008 1:09am
welcome on board my friend my order is waiting at 5522
  • #16,782
  • Jul 30, 2008 1:10am Jul 30, 2008 1:10am
Opened a small long (3.5 mini lots) @ 1.5573 and will hold through the ADP release - not gonna look at any charts tonight. Just because I can.
  • #16,783
  • Jul 30, 2008 1:24am Jul 30, 2008 1:24am
Quoting pipmac
If you took a quarter and flipped it 200 times you would probably probably see Heads 50% and Tails 50%......

If you opened 200 ramdom trades without looking at price and closed them 1 hour later every time you would prob Win 50% and loose 50% (i've never tried this)

If you would take the same idea as above and randomly open trades 1 at a time with 2% (1% long and 1% short) risk and with SL 30 and TP 90 on every trade.....In the long run it would make perfect mathamatical sense for you to come out ahead. CAn you see y?
lol But if you put a 3 times greater tp your chances are less for it to be hit and you shouldn't forget the very important part of forex called volatility - it can easily take out a 30 pip sl and then go you way.There are easier ways to trade. Just open a 1h chart for axample pull up a few proper indicators and when they cross together enter with an r:r of 1:1 or better, on 1h you can afford better.
On the path to Enrichment.
  • #16,784
  • Jul 30, 2008 1:28am Jul 30, 2008 1:28am
Quoting Subdude
Opened a small long (3.5 mini lots) @ 1.5573 and will hold through the ADP release - not gonna look at any charts tonight. Just because I can.
I'm with you from mid 560s yesterday. And GU and EJ. Like I said, EU's near the lower trendline on 3h-4h and another one going up on daily, EU just went to near the Daily 100 ema. GU also reached near it's 3h-4h lower trendline and EJ seems likely to bounce too. Should go up in short, a break down of already bearish wontrend channels like those doesn't seem likely.
On the path to Enrichment.
  • #16,785
  • Jul 30, 2008 1:40am Jul 30, 2008 1:40am
Quoting kreetcha
Maybe up a bit?
no, if you draw your lower trendline not capturing the extremes it shows that support has been broken.
"Diversification is an excuse for a lack of talent" ~FXC
  • #16,786
  • Jul 30, 2008 1:47am Jul 30, 2008 1:47am
Short. Don't follow me though, trade your own ways. I'm just doing what I'm doing.



gratiae
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"Diversification is an excuse for a lack of talent" ~FXC
  • #16,787
  • Jul 30, 2008 1:49am Jul 30, 2008 1:49am
Nothing has really changed fundamentally since it was 450 pips higher, other than a few bad euro indicators and the oil correction. Do you honestly think lower oil prices will help the U.S. banking sector fix its problems? Buckle up for safety as more writedowns await on credit card defaults, tier 3 asset implosion as well as continued homeowner walkouts. Also, watch VIX - this sucker should climb back up to 25-28 in the next few weeks.
  • #16,788
  • Jul 30, 2008 1:50am Jul 30, 2008 1:50am
Quoting FXCapitalist
The EURexpress is leaving. next stop 1.54XX


gratia
Will it be derailed at this long term daily trend line?
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  • #16,789
  • Jul 30, 2008 1:53am Jul 30, 2008 1:53am
Quoting Subdude
Nothing has really changed fundamentally since it was 450 pips higher, other than a few bad euro indicators and the oil correction. Do you honestly think lower oil prices will help the U.S. banking sector fix its problems? Buckle up for safety as more writedowns await on credit card defaults, tier 3 asset implosion as well as continued homeowner walkouts. Also, watch VIX - this sucker should climb back up to 25-28 in the next few weeks.
i dont even follow oil to base my trades on anything. I'm a technician and whatever fundamentals drive price I will see it on the charts. if I'm wrong, then that's on the market to prove me wrong. Other than that I'm never right for anyone but myself.


cheers
"Diversification is an excuse for a lack of talent" ~FXC
  • #16,790
  • Jul 30, 2008 1:53am Jul 30, 2008 1:53am
Quoting GodfreyH
Will it be derailed at this long term daily trend line?
Good observation Godfrey. Yet another reason to long for at least 5660 area if not all the way back to lower 57 and see if it breaks the upper 3h-4h downtrend trendline.
On the path to Enrichment.
  • #16,791
  • Jul 30, 2008 1:55am Jul 30, 2008 1:55am
im short as well
  • #16,792
  • Jul 30, 2008 1:57am Jul 30, 2008 1:57am
Short as well. I think maybe we can see 1.5490 down to 1.5475 in sight?
  • #16,793
  • Jul 30, 2008 1:58am Jul 30, 2008 1:58am
Quoting GodfreyH
Will it be derailed at this long term daily trend line?
shure why not lets break that down.
"Diversification is an excuse for a lack of talent" ~FXC
  • #16,794
  • Jul 30, 2008 1:59am Jul 30, 2008 1:59am
Quoting elmondello
Short as well. I think maybe we can see 1.5490 down to 1.5475 in sight?
yep that sounds reasonable
  • #16,795
  • Jul 30, 2008 1:59am Jul 30, 2008 1:59am
1 min till euro session
"Diversification is an excuse for a lack of talent" ~FXC
  • #16,796
  • Jul 30, 2008 2:00am Jul 30, 2008 2:00am
Quoting FXCapitalist
shure why not lets break that down.
lol
On the path to Enrichment.
  • #16,797
  • Jul 30, 2008 2:05am Jul 30, 2008 2:05am
Broken Channel/down.
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"Diversification is an excuse for a lack of talent" ~FXC
  • #16,798
  • Jul 30, 2008 2:05am Jul 30, 2008 2:05am
Quoting Jurrasic
lol
i hate all support and resistance haha i like swinging around them
"Diversification is an excuse for a lack of talent" ~FXC
  • #16,799
  • Jul 30, 2008 2:08am Jul 30, 2008 2:08am
a retrace up to my levels so it can hit my sell limit. other than that I'm just gonna sit and wait. the trades have been made.
"Diversification is an excuse for a lack of talent" ~FXC
  • #16,800
  • Jul 30, 2008 2:08am Jul 30, 2008 2:08am
Time for some good retracements ? doing long with few pips at a time

fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
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