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  • #25,721
  • Aug 29, 2008 11:04am Aug 29, 2008 11:04am
Quoting cobraforex
Hi malcolmb, didn't want that you miss this:
http://www.forexfactory.com/showpost...ostcount=25585
Have a nice weekend

that was very funny
Blogging daily now at www.volume.zone
  • #25,722
  • Aug 29, 2008 11:09am Aug 29, 2008 11:09am
Quoting trading801
this is so bull euro

ECB worried about growth but no rate cut-MNSI sources
FRANKFURT Aug 29 (Reuters) - European Central Bank policymakers are increasingly worried about the rapidly cooling euro zone economy but inflation dangers are too high to justify cutting rates, news agency Market News International reported on Friday, citing unnamed sources.

MNSI quoted a senior Eurosystem source as saying that it was unlikely there would be any change to rates this year, in line with public comments by policymakers including Malta's Michael Bonello.

'I do not see any further rate hike or a possible cut by the end of 2008,' the source was quoted as saying.
It's too late.

A cut now isn't going to help.

They missed the boat.

Thanks ECB.
  • #25,723
  • Aug 29, 2008 11:11am Aug 29, 2008 11:11am
Quoting cobraforex
Why don't you send a PM to Warren (not the rich one) to ask him?
That's not a bad idea.

  • #25,724
  • Aug 29, 2008 11:13am Aug 29, 2008 11:13am
Quoting Rocroy
Have you got any statistics on this?
This is one of those 'known' facts.

It's true.
  • #25,725
  • Edited 11:28am Aug 29, 2008 11:18am | Edited 11:28am
Quoting malcolmb14
You do not need to be in the market all the time and you do not need to make pips every day .. as long as at the end of the year you make profit is what counts.
I second that, I have some money saved during the years, the bank gives me a joke of 4 to 6 % annual, if I can triple that isn’t bad at all. I do much more, an average of 10-12 % monthly that is a nice third income for me.

Like I always say: Who wants to win the war needs to win several battles and know when to fight.

Add: I'm not the best excample on that rule but try to get better every day
  • #25,726
  • Aug 29, 2008 11:22am Aug 29, 2008 11:22am
Quoting malcolmb14
114 ... mmmm now you tell me . I had target 114.75 and closed at 115.30 as i thought I would be pushing my luck on Friday before the long weekend.

Now flat on oil futures going into the weekend.
LOL, sorry I didn't PM you with that one, being that we've never spoken before.

Anyway, you got out at a great point, as I don't really know that oil will go down anymore today.

Euro is interesting right now, but by end of the year it should be at least to 1.4000. We'll see.
  • #25,727
  • Aug 29, 2008 11:26am Aug 29, 2008 11:26am
Central bank rates next week..........Euro and other currencies selling off vs the USD today.

A tepid price of $115.50 - $8/$7.95 NG into the pit close at 2:30 with the threat of a category 3/4 hurricane aiming for a direct hit at Gulf OIL/NG infrastructure..........raises doubt over direction of OIL price, hurricanes or not.

If Gustav fails to deliver and speculation over possible rate cuts from other central banks follows next week then $111.50 for OIL looks realistic and maybe a push lower.
  • #25,728
  • Aug 29, 2008 11:30am Aug 29, 2008 11:30am
Quoting CFX
LOL, sorry I didn't PM you with that one, being that we've never spoken before.

Anyway, you got out at a great point, as I don't really know that oil will go down anymore today.

Euro is interesting right now, but by end of the year it should be at least to 1.4000. We'll see.
I shorted a bit more oil ( that was the spike from 116 to 114.95 as i placed my order)....
Blogging daily now at www.volume.zone
  • #25,729
  • Aug 29, 2008 11:32am Aug 29, 2008 11:32am
Haha, I just thought of your post after I'd written mine re oil. Did you pull your limit exit or are you out at 115.30?
  • #25,730
  • Aug 29, 2008 11:35am Aug 29, 2008 11:35am
why guess ...

take US market open ( I take pit open 9am est now) and 30 min later

plot high and low of range

trade the breakout

= NO GUESSING

If you did this today = 118 short entry.

same on YM ( but use 30 min of us markets) = 90 points
same on eurusd ( I use 30 min of us market open) = 60 pips

It is called trading the open range ... go to www.marketgauge.com and download the free ebook ' trading the 10 o'clock bull ' for more info
Blogging daily now at www.volume.zone
  • #25,731
  • Aug 29, 2008 11:36am Aug 29, 2008 11:36am
Quoting CFX
Haha, I just thought of your post after I'd written mine re oil. Did you pull your limit exit or are you out at 115.30?

118 to 115.3 for oil for one day is enough ....lol
Blogging daily now at www.volume.zone
  • #25,732
  • Aug 29, 2008 11:38am Aug 29, 2008 11:38am
Well done!
  • #25,733
  • Aug 29, 2008 11:41am Aug 29, 2008 11:41am
hi oolides and cobra

sorry .. went ot the beach to attend a farewell.. sigh..

am back..


the last short drop took a bite out of me too.. 60 pip minus !

lol


can i check wat is the market condition now/
  • #25,734
  • Aug 29, 2008 11:42am Aug 29, 2008 11:42am
Quoting cobraforex
I really have problems with that. Your point of view is interesting and is what I expected as your answer. But if I draw it my way we are at this point at 32.8 Fib and could await a retrace to the 1.50 area. I really don't know, I will research a bit during the weekend.
Thanks for your opinion.
Have a nice weekend

Add: the market was in that range (half year) in an indecision and then started do buy EUR, I see it as a new trend from there on, that's why I draw it that way, I might be wrong.
I'm looking at this moment to my weekly chart and if we say that I'm right drawing it my way and we are sitting on 32.8, the weekly Tweezer bottom candle gives me more reason to think that the big boys draw it that way also.
The other thing is that all the week after London and NY session we got back to that 1.4700 level.
Who knows
  • #25,735
  • Aug 29, 2008 11:53am Aug 29, 2008 11:53am
Quoting trading801
hi oolides and cobra

sorry .. went ot the beach to attend a farewell.. sigh..

am back..


the last short drop took a bite out of me too.. 60 pip minus !

lol


can i check wat is the market condition now/
I guess you missed the party my friend, there will be some profit taking and may be we gonna have that 1.4700 level again.
Let's see how good your trigger finger will be next week.
Good luck and a nice weekend.

To those who want to live this week one more time I will attach a MT4 simulator that works offline and you can see what you did well or wrong on a MT4 platform. I don't take credit on that simulater, I got it here in FF some time ago.
Attached File(s)
File Type: zip Trade_Simulator_Files.zip   37 KB | 506 downloads
File Type: zip Trade_Simulator_Installer.zip   120 KB | 588 downloads
File Type: pdf Trade_Simulator_setup.pdf   376 KB | 704 downloads
  • #25,736
  • Aug 29, 2008 11:55am Aug 29, 2008 11:55am
hmmm u mean before market close it may go to 1.47?

interesting! why so? it seem so dead now
  • #25,737
  • Aug 29, 2008 12:02pm Aug 29, 2008 12:02pm
Quoting trading801
hmmm u mean before market close it may go to 1.47?

interesting! why so? it seem so dead now
Because it did that all the week, but I will never ever give a call out here, I don’t want to be the guilty of your losses, what is good for me may be wrong for you, and everybody has a different stile and risk appetite.

Again nice weekend
Over and off for some beer.
  • #25,738
  • Aug 29, 2008 12:20pm Aug 29, 2008 12:20pm
Quoting Maarten999
My god! What happend here? I just came back and took a look at my screen, jezus. I did not expect this. Luckily all my stops were in place, the only problem is that now all my profits of the day are gone, what a waste

Maarten
Tja knul, bij forex moet je erbij blijven.

If you walk away, the mice play on the table....up we go now.
  • #25,739
  • Aug 29, 2008 12:30pm Aug 29, 2008 12:30pm
I wouldn't expect that mouse to run too fast on his exercise wheel though.
  • #25,740
  • Aug 29, 2008 12:31pm Aug 29, 2008 12:31pm
finally approved for posting. been reading this thread for a while, just wanted to chime in and say hello. new to forex,ran a demo account for a while, but still need to work on reading the technical charts correctly. Apologize in advance for the potential "stupid" questions, but hey, only way to learn
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