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  • #26,381
  • Sep 2, 2008 1:43pm Sep 2, 2008 1:43pm
Quoting bksujal
i reckon 1.4500 psychological level next support
testing it now. if it breaks i'm going short.

another topic ... how far from a pivot/resistance/support line do you usually "need" before you consider a line broken? many times i've seen maybe 20~40 pips above the line just to have it drop back down.
  • #26,382
  • Sep 2, 2008 1:49pm Sep 2, 2008 1:49pm
Quoting emmyi29
do u think that the downtrend will continue
It is top to bottom in downtrend , so no worry about if you in short from at any high but if some retracements event over few hundreds ( not such events of such in near future apparently> gustav thought of one but overcome now ) still it will contiue the downtrend. Ultimate price of stabilization should be 1.18 level in future >just my idea.

Take care
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #26,383
  • Sep 2, 2008 1:58pm Sep 2, 2008 1:58pm
Quoting gagakrimba
Is that for real ???
Now corelation came back, and looking for new Intraday Trades:

EUR/USD Sell near 1.4553
GBP/USD SEll near 1.7947
NZD/USD Sell near 0.6907
AUD/USD Sell near 0.8403

USD/CAD Buy near 1.0661
USD/JPY Buy near 108.47
USD/CHF Buy near 1.1 056
{Promotion Removed}
  • #26,384
  • Sep 2, 2008 2:38pm Sep 2, 2008 2:38pm
so whats pushing it up now.i am so confused on whether longs or shorts.anyone with a good idea?
  • #26,385
  • Sep 2, 2008 2:39pm Sep 2, 2008 2:39pm
What causes traders to fail.

1) Lack of Discipline - Do you create a plan prior to trading? Do you stick to it? Is your stop automated? How many times do you move your stop? Do you have profit targets? The truth is most people simply can't follow directions. If you can't follow a few simple rules in this game - you can't win.

2) Lack of Patience - After you've created your trade plan how often do you stick to it? Do you wait on the trade or jump the gun? How often do you trade? Does it look consistent month after month? Can you watch the market the an entire session and not enter a position? After a bad trade do you try to get your money back immediately? I believe that if a trader knows how to trade he's probably losing because he lacks patience, discipline or a combination of the two.

3) Lack of market knowledge and trading skill - Do you know how to trade? Do you have system that wins? Could you describe money management to your mom? Do you know when to trade? What are the best times of the day to trade this pair? What is the worst? How do you determine a trend? How many PIPS does this pair move on a daily basis? What tier one releases move the markets? How long have you demo trading your system? This may hurt a little but it's for the best. The vast majority on this thread haven't a clue on how to trade. Most could not articulate discretionary vs. mechanical trading. Most don't know what a retail trader is. Most don't have a system. Most don't understand the importance of money management or risk/reward. Sadly - most of you will lose. Everyone knows the fabricated failure number of 95%... but do you know why most traders fail?

4) LARGE EGO - Ask most of the traders on this site if they know where the market is heading. You'll get answer even if they have no clue. It's important for us to be right. If you can't park your ego you will eventually end up married to a trade that will be your undoing. I talk a lot on this thread and often make market predictions but I HAVE NO FCKING CLUE where the market is going to be tomorrow. NO ONE DOES. That's why it's so important to have plan and I'd recommend novice traders have a mechanical system.

5) Putting the puzzle together - What are you doing to work on the weak points of your trading knowledge? What are you doing right? What are you doing wrong? If you want to succeed in this arena you have to be able to put it all together. You can't be a great trader with poor money management skills. You have to have it all: A solid money management structure. A system that wins with a good risk:reward ratio. A solid foundation in technical and fundamental analysis. You have to know when to trade. You have to know when not to trade. You have to know taking a position on Sunday night is moronic. You have to be able to put all the facets together in order to succeed.

“Define first the level of risk you dare assume. Start with a small position, and then build it up if it works” – George Soros
  • #26,386
  • Sep 2, 2008 2:40pm Sep 2, 2008 2:40pm
Quoting Algirdas
Now corelation came back, and looking for new Intraday Trades:

EUR/USD Sell near 1.4553
GBP/USD SEll near 1.7947
NZD/USD Sell near 0.6907
AUD/USD Sell near 0.8403

USD/CAD Buy near 1.0661
USD/JPY Buy near 108.47
USD/CHF Buy near 1.1 056
You change these more often than I change my panties.
  • #26,387
  • Sep 2, 2008 2:46pm Sep 2, 2008 2:46pm
long term trend still shows in tact on the 4H chart. may be edging towards the upper wall of the channel, but it hasnt broken it. its been hanging around 1.45 to 1.454 since 10am EDT. which way it will go, I cant say. I would assume down to continue with the long term trend, but .. i'm a noob, so who knows.
  • #26,388
  • Sep 2, 2008 2:48pm Sep 2, 2008 2:48pm
acumen, thanks for taking your time to post material like this. Tough to assume for newbies like me, but that's absolutely true... Realizing errors in the past could be the key for future success.
J


Quoting acumen
What causes traders to fail.

1) Lack of Discipline - Do you create a plan prior to trading? Do you stick to it? Is your stop automated? How many times do you move your stop? Do you have profit targets? The truth is most people simply can't follow directions. If you can't follow a few simple rules in this game - you can't win.

2) Lack of Patience - After you've created your trade plan how often do you stick to it? Do you wait on the trade or jump the gun? How often do you trade? Does it look consistent month after month? Can you watch the market the an entire session and not enter a position? After a bad trade do you try to get your money back immediately? I believe that if a trader knows how to trade he's probably losing because he lacks patience, discipline or a combination of the two.

3) Lack of market knowledge and trading skill - Do you know how to trade? Do you have system that wins? Could you describe money management to your mom? Do you know when to trade? What are the best times of the day to trade this pair? What is the worst? How do you determine a trend? How many PIPS does this pair move on a daily basis? What tier one releases move the markets? How long have you demo trading your system? This may hurt a little but it's for the best. The vast majority on this thread haven't a clue on how to trade. Most could not articulate discretionary vs. mechanical trading. Most don't know what a retail trader is. Most don't have a system. Most don't understand the importance of money management or risk/reward. Sadly - most of you will lose. Everyone knows the fabricated failure number of 95%... but do you know why most traders fail?

4) LARGE EGO - Ask most of the traders on this site if they know where the market is heading. You'll get answer even if they have no clue. It's important for us to be right. If you can't park your ego you will eventually end up married to a trade that will be your undoing. I talk a lot on this thread and often make market predictions but I HAVE NO FCKING CLUE where the market is going to be tomorrow. NO ONE DOES. That's why it's so important to have plan and I'd recommend novice traders have a mechanical system.

5) Putting the puzzle together - What are you doing to work on the weak points of your trading knowledge? What are you doing right? What are you doing wrong? If you want to succeed in this arena you have to be able to put it all together. You can't be a great trader with poor money management skills. You have to have it all: A solid money management structure. A system that wins with a good risk:reward ratio. A solid foundation in technical and fundamental analysis. You have to know when to trade. You have to know when not to trade. You have to know taking a position on Sunday night is moronic. You have to be able to put all the facets together in order to succeed.

“Define first the level of risk you dare assume. Start with a small position, and then build it up if it works” – George Soros
  • #26,389
  • Sep 2, 2008 2:59pm Sep 2, 2008 2:59pm
Quoting jeam256
acumen, thanks for taking your time to post material like this. Tough to assume for newbies like me, but that's absolutely true... Realizing errors in the past could be the key for future success.
J
Losing is just part of the process.

Did you ever see this on Lincoln?

1816: His family was forced out of their home. He had to work to support them.

1818: His mother died.

1831: Failed in business.

1832: Ran for state legislature - lost.

1832: Also lost his job - wanted to go to law school but couldn’t get in.

1833: Borrowed some money from a friend to begin a business and by the end of the year he was bankrupt. He spent the next 17 years of his life paying off this debt.

1834: Ran for state legislature again - won.

1835: Was engaged to be married, sweetheart died and his heart was broken.

1836: Had a total nervous breakdown and was in bed for six months.

1838: Sought to become speaker of the state legislature - defeated.

1840: Sought to become elector - defeated.

1843: Ran for Congress - lost.

1846: Ran for Congress again - this time he won - went to Washington and did a good job.

1848: Ran for re-election to Congress - lost.

1849 Sought the job of land officer in his home state - rejected.

1854: Ran for Senate of the United States - lost.

1856: Sought the Vice-Presidential nomination at his party’s national convention - got less than 100 votes.

1858: Ran for U.S. Senate again - again he lost.

1860: Elected president of the United States.
  • #26,390
  • Sep 2, 2008 3:03pm Sep 2, 2008 3:03pm
Quoting acumen
You change these more often than I change my panties.
My strategy "Do not loose no one pip", and beafor you will make reall trade you can Change Strategy as much as you can.
{Promotion Removed}
  • #26,391
  • Sep 2, 2008 3:04pm Sep 2, 2008 3:04pm
Quoting Algirdas
My strategy "Do not loose no one pip", and beafor you will make reall trade you can Change Strategy as much as you can.
Keep doing your thing.
  • #26,392
  • Sep 2, 2008 3:07pm Sep 2, 2008 3:07pm
Quoting acumen
You change these more often than I change my panties.
Up or down, gimme a ticket
  • #26,393
  • Sep 2, 2008 3:08pm Sep 2, 2008 3:08pm
Quoting SpecialEd
and some levity.

m
  • #26,394
  • Sep 2, 2008 3:11pm Sep 2, 2008 3:11pm
Quoting acumen
and some levity.

m
Up or down, gimme a ticket
  • #26,395
  • Sep 2, 2008 3:17pm Sep 2, 2008 3:17pm
Quoting acumen
You change these more often than I change my panties.

IS THIS DATA FRESH ??
Never sell @ lower upward channel unless breacked and vise versa .
  • #26,396
  • Sep 2, 2008 3:19pm Sep 2, 2008 3:19pm
Quoting WedWed
IS THIS DATA FRESH ??
Up or down, gimme a ticket
  • #26,397
  • Sep 2, 2008 3:26pm Sep 2, 2008 3:26pm
Quoting Algirdas
Now corelation came back, and looking for new Intraday Trades:

EUR/USD Sell near 1.4553
GBP/USD SEll near 1.7947
NZD/USD Sell near 0.6907
AUD/USD Sell near 0.8403

USD/CAD Buy near 1.0661
USD/JPY Buy near 108.47
USD/CHF Buy near 1.1 056

Hi Dear ... I prepare my self to follow Gold Data now..
Never sell @ lower upward channel unless breacked and vise versa .
  • #26,398
  • Sep 2, 2008 3:37pm Sep 2, 2008 3:37pm
Quoting Algirdas
Now corelation came back, and looking for new Intraday Trades:

EUR/USD Sell near 1.4553
GBP/USD SEll near 1.7947
NZD/USD Sell near 0.6907
AUD/USD Sell near 0.8403

USD/CAD Buy near 1.0661
USD/JPY Buy near 108.47
USD/CHF Buy near 1.1 056
Thanks for keeping with us
can we revers all deal ..Sell to buy and buy to sell .. and take action now .. until we reach or be near to Blue line (Pivot) and then follow your signal as it is?

for exam. we r now on GU 1.7828 and u recomand wait to near 1.7947
we have 100 pips .. can we eat them with LONG
Never sell @ lower upward channel unless breacked and vise versa .
  • #26,399
  • Sep 2, 2008 3:45pm Sep 2, 2008 3:45pm
Quoting SpecialEd
Never sell @ lower upward channel unless breacked and vise versa .
  • #26,400
  • Sep 2, 2008 3:52pm Sep 2, 2008 3:52pm
just woke up, heres my 2 cents on whats happening

1) fibonacci has played a great role lately, the push up came within one pip of 61.8% before coming back down, however it never went lower then 23.6% which has been strong points of continuation down.

2)last nights move down broke the lower wall of a longer term downwards channel for a steeper fall, now, its right outside that wall, (currently at 525), so until that wall is broken, we may see sideways trend or still bearish sentiment.

3)oil going up should help the euro

4)the news is a catalyst, the rumor of the news is a catalyst, direction unknown

im currently standing aside for better entry point with bullish bias
Different opinions highly valued, ignorant to slander.
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