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  • #21,901
  • Aug 20, 2008 10:41am Aug 20, 2008 10:41am
Quoting 5ysfx
im still buying lower the better.
why?
  • #21,902
  • Aug 20, 2008 10:43am Aug 20, 2008 10:43am
Every one has his or her trading style but you must have at least 2 reasons before you enter a trade or else????
  • #21,903
  • Aug 20, 2008 10:48am Aug 20, 2008 10:48am
Quoting gsgg
why?
Rofl because its cheaper.
  • #21,904
  • Aug 20, 2008 10:50am Aug 20, 2008 10:50am
S1 at 1.4673, I think if it breaks 4673, go short with target of S2 at .4571
  • #21,905
  • Aug 20, 2008 10:53am Aug 20, 2008 10:53am
Folks those that are lost at the moment. Let me give you some good trading advice for free. There are some excellent FX traders on this EUR/USD thread.

It seems some FX traders have their eyes closed.

First of all there is no news out and no direction. Using the lines up and down to trade on probably will guarantee you a loss.

I have not put on a FX trade all morning since I am waiting for the right spot.

Number One thing to do ! Have A Trade Plan ! What is it ? What are the Odds of it working ? What is your MAXIMUM loss ? How much profit are you after ?

I will share with you my Trade Plan on EUR/USD ! If it gets to 1.4800 , I will short it since it needs to clear the Weekly Pivot at 1.4810 and the Double 00 at 1.4800

Now it is at 1.4688 so NO TRADES ! PERIOD !

However I might trade USD/JPY depending on my sense of where the Dow will end today.

I know where I want to enter. Where I put my Stop Loss and where I want to exit.

If it approaches 110.30 , I will probably short it. Support is 109.50

I am waitiing patiently for the moment !

Bruce
{Promotion Removed}
  • #21,906
  • Aug 20, 2008 10:54am Aug 20, 2008 10:54am
Quoting PipAV8tor
I am in my sell since 1.4776 and looking good so far. Also in a sell on the eur-jpy sin 162.31. Also in profit. Looking to lock in profit and let it run...
Closed both of the positions moments ago for a total of +160 pips. I grew my live acct by 20% with these two positions. I am up 35% for the month. Not trying to brag, just have to let someone know about it who can appreciate the activity. Hope you all are having the same kind of good pips.
  • #21,907
  • Aug 20, 2008 10:57am Aug 20, 2008 10:57am
Quoting akirax
S1 at 1.4673, I think if it breaks 4673, go short with target of S2 at .4571
for me its a long not short
  • #21,908
  • Aug 20, 2008 10:57am Aug 20, 2008 10:57am
Long @ 1.4690 hope that will work for me.

Mike
  • #21,909
  • Aug 20, 2008 10:59am Aug 20, 2008 10:59am
I dont think it will go anywhere down to S2 today as i am trading off the S1 just scalping for a 20 pips retrace then close my office for the day
  • #21,910
  • Aug 20, 2008 10:59am Aug 20, 2008 10:59am
Quoting RumiPL
Long @ 1.4690 hope that will work for me.

Mike
  • #21,911
  • Aug 20, 2008 11:01am Aug 20, 2008 11:01am
Quoting PipAV8tor
Closed both of the positions moments ago for a total of +160 pips. I grew my live acct by 20% with these two positions. I am up 35% for the month. Not trying to brag, just have to let someone know about it who can appreciate the activity. Hope you all are having the same kind of good pips.
very nice
  • #21,912
  • Aug 20, 2008 11:02am Aug 20, 2008 11:02am
In mini-medium term price is in UP trend but for now it's down trend.. may touch s2 soon...
  • #21,913
  • Aug 20, 2008 11:04am Aug 20, 2008 11:04am
Quoting RumiPL
Long @ 1.4690 hope that will work for me.

Mike
it should but look for a 20+ tp
  • #21,914
  • Aug 20, 2008 11:05am Aug 20, 2008 11:05am
i think ranging days might be over when olimpic games finishes,..and the trend which ever, is more likely to start in the start of september...so im scalping...i shorted eur/can for 80s now im long....hope for 60s...:nerd:
its just money
  • #21,915
  • Aug 20, 2008 11:05am Aug 20, 2008 11:05am
Quoting femzy112
it should but look for a 20+ tp
whip whop!!!
I know where I am----I just don't know where I'm going!
  • #21,916
  • Aug 20, 2008 11:06am Aug 20, 2008 11:06am
Quoting RumiPL
Long @ 1.4690 hope that will work for me.

Mike
Yeah,,I like that too
I know where I am----I just don't know where I'm going!
  • #21,917
  • Aug 20, 2008 11:07am Aug 20, 2008 11:07am
Nice flag on daily, a break of this one should be worth at least a solid 100 pips I think.
On the path to Enrichment.
  • #21,918
  • Aug 20, 2008 11:08am Aug 20, 2008 11:08am
15:49 US TECHS: Dollar Index Maintains Buy Signals, Holds Supports Boston,
August 20. Early weakness today was limited by the 8-day simple moving average that currently lies at 76.66. The response at that average suggests that the market is still in a bullish trend despite overextended conditions on daily oscillators and 8-day ADX. The trend signal on the latter is still rising; it
has been a very strong indicator during the last couple weeks. Prices are
currently above the February high at 77.04; the market has closed above that level in two of the last three sessions. A bearish outside day formed yesterday, but the rebound today makes that pattern unlikely to be a reliable reversal signal. The next major target is the December high at 77.85; the odds of a push through that area during this phase of the rally are low due to daily signals.

Weekly and monthly conditions are firmly bullish with solid buy signals
established on both. The 21-month moving average is the next major obstacle on monthlies at 77.99. [email protected] /jmm



Strategy:[email protected] Daily uptrend is consolidating above support at 109.50 for a fourth day following the limited new trend highs scored at the end of last week that created a bearish divergence on the dailies. We favor fading rallies at this point but are not forcing shorts because a break and close below 109.50 is needed to flesh out the daily top. (RD) 13:15 GMT

They just went short at 109.92

I will wait to see the Dow close ?


Bruce
{Promotion Removed}
  • #21,919
  • Aug 20, 2008 11:08am Aug 20, 2008 11:08am
Quoting Warren Forex

I want to explain to everyone but especially to new FX traders and those that rely heavily on the charts why it is important to read the information that I post here.
You really are full of yourself..lol

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I read through thousands of articles during the course of a month. Each day I read at least 25 to 50 articles from ALL points of view. The important ones I post here so everyone can read it if they want.

Thanks for your time...


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I have had excellent success trading in this style. If it works for me it can work for you. I am doing a lot of the work in finding the information so all you need to do is read it and understand it. If you do not understand just ask and someone here will explain it.

Then why are you not filthy rich?

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The Wrap Up that I am posting now is EXTREMELY IMPORTANT to read and understand.

I'm sure it is...

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As important to winning is the Technical Side the Fundamental is clearly essential in order to get YOUR EDGE !!!

I do agree on that (wow, I agree with WF)

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Most of us read the news or hear it all day from CNBC or some expert. Unfortunately most of these experts are relying on faulty data and refuse to be critical of it. It is rather incredible to me that I NEVER hear anyone coming on CNBC to tell why Gold is going UP or who REALLY causes Monetary Inflation and why.

I like to read the National Enquirer, they know everything.

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I never finished High School

What a suprise.

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however I learned all my skills by being involved from being a Controller of a large Corporation to running my own management company. The point is if you take the time, I am sure most of you can understand what is posted here.

Learned some "skills" huh... SO now you spend all your valuable time educating us for free?

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The reason to know it and understand it is to know when the information that you think is real is NOT in some cases.

This misleading information changes REALITY to a FALSE Perception as WE all saw in the last two weeks.

YES the economies are slowing in other lands BUT who knows how BAD it will really get SADLY in the USA !!!

READ the Report Posted and You Will GET your Edge ...

Then when a New Data Report comes out you will not be surprised like the market always is when it is bad. What if the New Jobless claims on Thursday really hits 475,000 ?
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The Dow will CRATER and USD/JPY will go down and most likely EUR/USD will go up.

Do not take this advice, you will loose. Make up your own mind, instead of some guy on a forum. (Take MY advice


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That is why trading as it shows in the Video on FTP along with proper Money Management is the Way to being a Winner in Forex !!!


Good Trading To All !!!


Bruce
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #21,920
  • Aug 20, 2008 11:08am Aug 20, 2008 11:08am
E/U has not had a full 100% retrace of an up move since Nov of '02. That cannot happen here until 1.43 is breached (looking at weekly chart). All trends have to reverse some time, but fundamentals do not favor it right now. I believe the safest trading right now is to look for opportunites to buy and stay with the long term up trend since '02.... that is what I am doing until we get a weekly close below 1.43.
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