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  • #23,221
  • Aug 24, 2008 8:59pm Aug 24, 2008 8:59pm
Quoting trading801
so it is in my best interest.. and sane piping methods.. to CUT loss now and wait ya?
It is in your best interest to decide for yourself. Otherwise how will you ever learn. You obviously have a lot to learn but it won't happen by asking others on a web forum "what should I do now"?
  • #23,222
  • Aug 24, 2008 9:01pm Aug 24, 2008 9:01pm
Quoting SunTrader
It is in your best interest to decide for yourself. Otherwise how will you ever learn. You obviously have a lot to learn but it won't happen by asking others on a web forum "what should I do now"?
very true. im out. My EJ shorts hit SL at BE again.
  • #23,223
  • Aug 24, 2008 9:02pm Aug 24, 2008 9:02pm
Quoting doughnut
The long term trend is still up look at your charts forget minute charts trends dont change in a mater of week sometimes they go for years the general trend is stil up look at weekly tell me im wrong but things could change in the next year

Marc
I don't need a chart to tell me the direction.

When a currency comes off 3% in one week - the direction has changed.

When I see huge banks and hedge funds liquidate their Euro longs I'm on board.

When I read Soros bearish on the EURO I don't need chart.

Oil is a true bubble - in every sense of the word.

I've never seen an oil chart but at 130 I said the end is near.

Oil is going to 100... sooner than later.

We are long over due for a retrace... but that doesn't mean is a foregone conclusion.
  • #23,224
  • Aug 24, 2008 9:02pm Aug 24, 2008 9:02pm
Quoting spathi
weekly trend is down. monthly trend going to down. fuhhh..
ok wont go there but my chart candels goes bottom left to top right that down anyways trade safe and make dough

Marc
Trade less make more!
  • #23,225
  • Aug 24, 2008 9:03pm Aug 24, 2008 9:03pm
Quoting SunTrader
So I guess this means you went short. Otherwise the object isn't just to be "right" but to get paid for being right.
You know, I had a short with the entry around $120.600 Thursday night, but chickened out and closed for some miniscule profit... as opposed to holding another 10 hours and closing the week with a bang. I only trade mini-oil and whenever I do it's always nerve-wracking b/c it eats up my margin like a son of a bitch. Live and learn...
  • #23,226
  • Aug 24, 2008 9:06pm Aug 24, 2008 9:06pm
Quoting SunTrader
So I guess this means you went short. Otherwise the object isn't just to be "right" but to get paid for being right.
Most won't learn it in time... but if you read this thread I guess that's why 95% of all traders fail.
  • #23,227
  • Aug 24, 2008 9:10pm Aug 24, 2008 9:10pm
Quoting SunTrader
It is in your best interest to decide for yourself. Otherwise how will you ever learn. You obviously have a lot to learn but it won't happen by asking others on a web forum "what should I do now"?

dont be so harsh on me

i do study hard on the websites.. just that i need seniors to guide me along..

i do have lots of experiences to be had..

1)i am currently risking about 20% of my account size.. i know this is stupid.. but if i will to stick to the 3% rule, my pips will cost about 10cents each?? this will take ages.. my acc is so low now due to my starting trades.. i was new didnt know about MM at all.. was doing $1 per pips with $250.

2)lastly i sort of have a twisted view on risk .. i tend to have SL of 200 and usually chicke out and TP at about 30-50 pips.. i am afraid that it bounces up again.. and 200 is to ride the up and downs.. so far it works.. but i know if it goes up and never comes down, i am dead meat..

bros.. i am not some arrogant a** but i do need lots of kind guidance..

p/s i have exited my position .. SL 22 pips
  • #23,228
  • Aug 24, 2008 9:10pm Aug 24, 2008 9:10pm
Quoting Subdude
You know, I had a short with the entry around $120.600 Thursday night, but chickened out and closed for some miniscule profit... as opposed to holding another 10 hours and closing the week with a bang. I only trade mini-oil and whenever I do it's always nerve-wracking b/c it eats up my margin like a son of a bitch. Live and learn...
Happens to us all sometimes.
  • #23,229
  • Aug 24, 2008 9:13pm Aug 24, 2008 9:13pm
Quoting PipAV8tor
Japan never really decides a direction until after lunch. they close you know. GB has a holiday and no euro announcements. A test of 4700 could happen just as easily as 4750. One is plus 15 the other is -35, which sounds better?
.4750 is a psyche level.
.4700 is a psyche level.
.4733 is S1.

Someone find me a dart... I'll pick a direction.
  • #23,230
  • Aug 24, 2008 9:18pm Aug 24, 2008 9:18pm
Good morning everybody,
Yes it come directly to the direction it should go or supposed . My 50 trades taken before the last market closed come green at 1.4751 , not taking much it doing . Hope do more in london session ,no trades open now.

Better take the morning tea & some walks.
Take care

fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #23,231
  • Aug 24, 2008 9:21pm Aug 24, 2008 9:21pm
Quoting trading801
dont be so harsh on me

i do study hard on the websites.. just that i need seniors to guide me along..

i do have lots of experiences to be had..

1)i am currently risking about 20% of my account size.. i know this is stupid.. but if i will to stick to the 3% rule, my pips will cost about 10cents each?? this will take ages.. my acc is so low now due to my starting trades.. i was new didnt know about MM at all.. was doing $1 per pips with $250.

2)lastly i sort of have a twisted view on risk .. i tend to have SL of 200 and usually chicke out and TP at about 30-50 pips.. i am afraid that it bounces up again.. and 200 is to ride the up and downs.. so far it works.. but i know if it goes up and never comes down, i am dead meat..

bros.. i am not some arrogant a** but i do need lots of kind guidance..

p/s i have exited my position .. SL 22 pips
All I am saying is that by asking others, most of whom here don't have a clue, is asking for trouble. And there will always be roughly half long and half short at any one time so you are bound to get mixed info or should I say mixed-up info.

I see by your posts that your are learning. Also that you are trading small while you go. Good. Therefore you can afford to have a wider stop, as you thought.

Just keep in mind that even though you entered with the trend (down) you should look for a setup to enter a trade and not just because it is going down and others might be also.
  • #23,232
  • Aug 24, 2008 9:25pm Aug 24, 2008 9:25pm
Quoting tundy88
hi acumen, how long do you think it will go down. I didnt get in early enough and missed the 50 pips fall...
No clue.

That's why I'm flat.

I only trade during prime time.

The rest is noise.

We are at S1 right now.

We should bounce off S1 but really - I haven't a clue.

Mike
  • #23,233
  • Edited 9:58pm Aug 24, 2008 9:28pm | Edited 9:58pm
http://www.drschoon.com/articles/Don...eArgentina.pdf

Snippet:

That, my fellow Americans, is a $99.2 trillion question.
BANKRUPT BE THE BONDS THAT BIND
Americans with their outstanding obligations now measured in trillions of dollars of
outstanding US bonds have much in common with the Argentine people. We have both
been enslaved and bankrupted by the same financial system.
While it is impossible for the debt burdened Argentines to do something about US banks,
it is not impossible for Americans to do so. The US Federal Reserve Bank—the largest
emitter of debt-based money in the world—while not an official US government agency
is nonetheless still subject to the rules and laws of our land.
STIRRINGS IN THE ELECTORATE
Dissatisfaction, the beginning of change, is now occurring. The two political polarities
are finally awakening to the fact that both have been callously used by those in power.
The US has lurched right then left then right again, but it continues to go in the same
disturbing direction, a direction now equally distasteful to those on the left and on the
right.

In modern democracies, successful politicians must possess two qualities: They must say

what the people want to hear and they must do what those in power want done

Snippet:

It has been easy to manipulate those on the right as well as those on the left. The
Republicans and Democrats have done so for years. But where’s the beef? The nation’s
finances have been even more badly managed by the Republicans than the Democrats—
and Iraq? Sure, vote for the Democrats and stay mired in a conflict they promised they
would end.
Both parties are controlled by the same money, the same money that now controls global
governments and institutions such as the World Bank and the IMF, the same money that
buys politicians, scholars, the military, lawyers, TV anchors, radio talk show hosts and
anyone else whose influence they can use for their own ends.
There is a reason why we are indebted as we are and there is a reason why we are mired
in a war that one wants except the few that do, the few that now control our nation and
many others. In the midst of this most unreasonable world, there are reasons—whether
you want to know them or not.
Humanity now finds itself at the beginning of a profound shift, a shift that will force us—
if we are to survive, if we are to triumph—to put aside our differences to accomplish
together what we obviously cannot accomplish apart.
The two political polarities must find common ground or they will soon find there is no
ground at all. What is happening is bigger than money and power although it involves
both. It involves humanity, it involves all of us and unless we find each other we will
soon find there will be nothing left to find at all.
We are closer to the end than to the beginning. Keep your own counsel. Buy gold and
silver. Keep the faith.
In Argentina, I read in a recent issue of Scientific American that physicists now believe
that in the beginning of time the Universe was only one centimeter across. That

knowledge heartened me. We have come a long way.
I cannot point out enough times from different writers how serious things are in the world and particularly in the USA ...

These are qualified dedicated parties looking for the truth. Many are American. It always comes back to the FED.

Before it was not critical and now it is.

The handwriting is on the wall. Start thinking outside of the box. Be aware of how things really are and not how you hope or think they are.

Ignoring the facts will not benefit anyone. Trade in the moment but be aware of false information put out for the masses. Be better informed and think for your self. You are free to agree or disagree.

The facts will not change. These are life changing facts and not one of us will be spared unless we plan for the future rather than let the future plan for us.

Read the article. Understand it. Ask questions if you need to. Just educate yourself in order to improve and earn money. There are many knowledgeable traders here. We do not need to agree on everything but we need to see all points of view backed up by facts not opinions only.

I am taking a break to sleep awhile and I have invested many hours researching and sharing some of it with those that have an interest in knowing rather than be clueless like the masses.

Good Evening and Be patient.


Bruce
{Promotion Removed}
  • #23,234
  • Aug 24, 2008 9:29pm Aug 24, 2008 9:29pm
Quoting trading801
dont be so harsh on me

i do study hard on the websites.. just that i need seniors to guide me along..

i do have lots of experiences to be had..

1)i am currently risking about 20% of my account size.. i know this is stupid.. but if i will to stick to the 3% rule, my pips will cost about 10cents each?? this will take ages.. my acc is so low now due to my starting trades.. i was new didnt know about MM at all.. was doing $1 per pips with $250.

2)lastly i sort of have a twisted view on risk .. i tend to have SL of 200 and usually chicke out and TP at about 30-50 pips.. i am afraid that it bounces up again.. and 200 is to ride the up and downs.. so far it works.. but i know if it goes up and never comes down, i am dead meat..

bros.. i am not some arrogant a** but i do need lots of kind guidance..

p/s i have exited my position .. SL 22 pips
Trading801

Read the first page of Jacko's thread.
http://www.forexfactory.com/showthread.php?t=27286


In the office and ready for another big money week. Trades this month:
Sold 5900 Bought 4650 Profit 1250 pips
Bought 4600 Sold 4880 Profit 220 pips
  • #23,235
  • Aug 24, 2008 9:32pm Aug 24, 2008 9:32pm
Quoting trading801
dont be so harsh on me

i do study hard on the websites.. just that i need seniors to guide me along..

i do have lots of experiences to be had..

1)i am currently risking about 20% of my account size.. i know this is stupid.. but if i will to stick to the 3% rule, my pips will cost about 10cents each?? this will take ages.. my acc is so low now due to my starting trades.. i was new didnt know about MM at all.. was doing $1 per pips with $250.

2)lastly i sort of have a twisted view on risk .. i tend to have SL of 200 and usually chicke out and TP at about 30-50 pips.. i am afraid that it bounces up again.. and 200 is to ride the up and downs.. so far it works.. but i know if it goes up and never comes down, i am dead meat..

bros.. i am not some arrogant a** but i do need lots of kind guidance..

p/s i have exited my position .. SL 22 pips
What are YOUR charts telling YOU? You are down approx. 15 pips right now. It is a coin flip right now on the direction. I still think a test of 1.4700 is in the cards, but I am not in a trade, just watching, like you should be doing in MVHO. Since you are in, pick a stop that you can live with if it gets hit. Pick a potential profit target and see what happens. Next time, don't be "afraid" you are missing a major move. It is Sunday night or Monday morning, there will be plenty of trade ops this week. Next time wait for a good one that matches your trading plan. Good Luck!
  • #23,236
  • Aug 24, 2008 9:35pm Aug 24, 2008 9:35pm
Quoting forexfixer
Trading801

Read the first page of Jacko's thread.
http://www.forexfactory.com/showthread.php?t=27286


In the office and ready for another big money week. Trades this month:
Sold 5900 Bought 4650 Profit 1250 pips
Bought 4600 Sold 4880 Profit 220 pips
If you haven't read the article on money management at babypips.com
you should.

If you are new... it's the single most important article you'll ever read.
  • #23,237
  • Aug 24, 2008 9:48pm Aug 24, 2008 9:48pm
Quoting Subdude
Looks like I called oil spot on. We are not going anywhere near $150 at least for months to come. A safer futures trade at the moment appears to be shorting Sept YM which is bound to drop back down to 11300 - 11400 range this week. Good luck whichever way you go, however.
I was short oil Friday ....

I use something called open range trading on both the YM and CL

I used to use it for stocks also but gave up trading those now I trade only futures and forex.

Go to www.marketgauge.com and download the free ebook ' trading the 10 o'clock bulls'.

It explains trading the open range.

Because the bulk of the volume in oil futures is in the US session I use 9:30 to 10 am est as my open range. I do not trade within this window , but rather sit and watch the price action for the 1st 30 minutes. That way I can get a feel for where the market is going.

On Wednesdays and Thursdays I do not trade oil before the news items are out relating to oil an my open range is set from 9:30 to 10:35 est

Oil had issues getting a true clear breakdown of its open rnage on Friday , but the fact that once it broke it it did not come back into the open rnage was bearish. Once that bullish divergence on the rsi was broken she was a good short.

Attached Image (click to enlarge)
Click to Enlarge Name: oil.gif Size: 38 KB
Blogging daily now at www.volume.zone
  • #23,238
  • Aug 24, 2008 9:48pm Aug 24, 2008 9:48pm
Quoting malcolmb14
Mike ..... there have been asian sessions on a Sunday when i hacve made 400 pips in less than 2 hours , so I would not call this a not a real session.

Today was a quick short off gj 203.80 , covered 203 and eu 1.4760 , covered 1.4730

by watching volume you can see what is going on , the bounce off 202.80 on gj was a good one , was not ready for trade so did not have CAR order ready

Right now on the consolidation zone eu at 1.4720 there is bullish volume divergence on 10 min , but that alone does not mean it is going to go up as most of the ticks are negative.

As long as a trader knows that early Asian sessions traps are often set ..... today might just have been one of them . You can use these to your advantage ( play the bounces .. the one on gj is 45 pips so far)
This is the EURUSD thread.

If you trade this pair then you shouldn't be trading the Asian session.

What's bullish volume?

There is no volume until the European session starts.
  • #23,239
  • Aug 24, 2008 9:50pm Aug 24, 2008 9:50pm
Quoting trading801
so it is in my best interest.. and sane piping methods.. to CUT loss now and wait ya?

This is a bear flag on 10 min charts .. there is NO buying pressure yet

Place stops at where you think your risk management is ok and then let her run

The trend is down...1.4760 was the line in sand for me ... now we have broken the 61.8% fib I think we carry on going down.
Blogging daily now at www.volume.zone
  • #23,240
  • Aug 24, 2008 9:58pm Aug 24, 2008 9:58pm
Quoting malcolmb14
Because the bulk of the volume in oil futures is in the US session I use 9:30 to 10 am est as my open range. I do not trade within this window , but rather sit and watch the price action for the 1st 30 minutes.
You realize that the NYMEX crude trade pits open at 9:00am EST ?
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