DislikedI wonder what the magic number is in terms of months.
How many months of winning until a consistent pattern emerges?
My wife's a Six Sigma expert for a large bank and she did the math for me one day but I can't find the d#mn paper.Ignored
- #23,002
- Aug 22, 2008 1:57pm Aug 22, 2008 1:57pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
I am thinking about going long right now, but the forex market closes in a few hours, and I don't like holding positions over the weekend. What am I going to do.....
Maarten
- #23,003
- Aug 22, 2008 1:58pm Aug 22, 2008 1:58pm
I am thinking about going long right now, but the forex market closes in a few hours, and I don't like holding positions over the weekend. What am I going to do.....
Maarten
- #23,005
- Aug 22, 2008 2:00pm Aug 22, 2008 2:00pm
- | Membership Revoked | Joined Sep 2006 | 1,802 Posts
{Promotion Removed}
- #23,006
- Aug 22, 2008 2:00pm Aug 22, 2008 2:00pm
I am thinking about going long right now, but the forex market closes in a few hours, and I don't like holding positions over the weekend. What am I going to do.....
Maarten
More than likely lose. Overhead short term resistance at 1.4790-1.4795. Not to mention whole number 1.4800
Personally, I would wait.. Things happen over the weekend that are much harder to pick up on. Remember about 2 months ago when the US did an emergency rate cut? Also natural disasters and the like can make a big difference. I usually don't even trade on Mondays. I wait to see what direction the market is going to go. Plenty of pips to be had on tues-thurs and some friday mornings. JMHO
You can just do nothing and start enjoying the weekend ...
Maarten
I am thinking about going long right now, but the forex market closes in a few hours, and I don't like holding positions over the weekend. What am I going to do.....
Maarten
Keep in mind that in monday UK don't work.
- #23,011
- Aug 22, 2008 2:14pm Aug 22, 2008 2:14pm
- | Membership Revoked | Joined Sep 2006 | 1,802 Posts
{Promotion Removed}
- #23,013
- Aug 22, 2008 2:18pm Aug 22, 2008 2:18pm
- | Joined Dec 2006 | Status: Poocher | 1,018 Posts
I wonder what the magic number is in terms of months.
How many months of winning until a consistent pattern emerges?
My wife's a Six Sigma expert for a large bank and she did the math for me one day but I can't find the d#mn paper.
You wait for the noisy price action to die and trade the momentum moves in the direction of the trend or away from the daily pivot.
You wait a lot. I don't know if I'll be able to do that since I'm greedy myself.
So I'm thinking your trading style will work forever as long as you stay patient.
- #23,015
- Aug 22, 2008 2:20pm Aug 22, 2008 2:20pm
- Joined Mar 2007 | Status: Trader | 3,709 Posts
Personally, I would wait.. Things happen over the weekend that are much harder to pick up on. Remember about 2 months ago when the US did an emergency rate cut? Also natural disasters and the like can make a big difference. I usually don't even trade on Mondays. I wait to see what direction the market is going to go. Plenty of pips to be had on tues-thurs and some friday mornings. JMHO
- #23,016
- Aug 22, 2008 2:22pm Aug 22, 2008 2:22pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
Thanks guys, I am going to take off! I made some money this week. Not enough to cover my overall loses, but well, I am learning and you can't put a price tag on that, right?
Maarten
Can't put a price on learning...even though these institutions sure do put a hefty price on tuitions!
I think I'm going to stick around for some last minute action then close up for the weekend!
Ohhh man...back to college next week...
- #23,018
- Aug 22, 2008 2:26pm Aug 22, 2008 2:26pm
- Joined Mar 2007 | Status: Trader | 3,709 Posts
I'm trying to read all your threads and posts cuz it looks to me that you make a disciplined approach to trading the human greed reflected in the eur/$'s price action.
You wait for the noisy price action to die and trade the momentum moves in the direction of the trend or away from the daily pivot.
You wait a lot. I don't know if I'll be able to do that since I'm greedy myself.
So I'm thinking your trading style will work forever as long as you stay patient.
Time will tell.
It's hard though because I'm and ADD kid. (Medicated and everything)
Patience is so important.
Waiting for the market to come to you.
The pivots and psych levels really do make it a lot easier.
Thanks again.
Mike
- #23,019
- Aug 22, 2008 2:29pm Aug 22, 2008 2:29pm
- | Membership Revoked | Joined Sep 2006 | 1,802 Posts
{Promotion Removed}