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  • #27,581
  • Sep 5, 2008 9:14am Sep 5, 2008 9:14am
Quoting bigandrich
More inclined to the stalling in the 1.4348, not much upward pressure here, I'm waiting for a breakdown, but if it breaks the upper area with force, I'm game for that as well.
Here we go
  • #27,582
  • Sep 5, 2008 9:15am Sep 5, 2008 9:15am
Easy money today. They should make counter-trend NFPs every day.
On the path to Enrichment.
  • #27,583
  • Sep 5, 2008 9:20am Sep 5, 2008 9:20am
this is so complex.america has a failing economy probably headed towards recession,yet the dollar is getting stronger.i am quitting for today.everyone made profits,while i lost everything i had accumulatede since yesterday.this market is crappy.
  • #27,584
  • Sep 5, 2008 9:25am Sep 5, 2008 9:25am
Quoting oolides
this is so complex.america has a failing economy probably headed towards recession,yet the dollar is getting stronger.i am quitting for today.everyone made profits,while i lost everything i had accumulatede since yesterday.this market is crappy.

Focus on learning technical analysis, once again you seem to be trading fundamental factors on too small a time frame.
Redefining Reality
  • #27,585
  • Sep 5, 2008 9:26am Sep 5, 2008 9:26am
Quoting trading801
hi SpecialEd.. ok i will bear that in mind.. thankful i have you bros my frd..

crazy movement now.. am longing hope it is ok
I'm fairly new at this myself, as I've said before. I love it but found early-on that there is a far bigger learning curve than I expected, or was led to believe. I study this stuff every day, just like a regular day job, and I pay close attention to everything I read from the more experienced posters on here.

Decide what your "system" is, test it with demo, backtest it over about a month of data, trade demo some more, trade live with very small funds, and then, if it works, stick to it in live.

Forex can be a gutsticker. It really is good to have someone to share the ride with. If it were not for so many posters generous with their knowledge, I'd be lost - out of money.

Have a daxned good weekend.
Up or down, gimme a ticket
  • #27,586
  • Sep 5, 2008 9:26am Sep 5, 2008 9:26am
Quoting oolides
this is so complex.america has a failing economy probably headed towards recession,yet the dollar is getting stronger.i am quitting for today.everyone made profits,while i lost everything i had accumulatede since yesterday.this market is crappy.
Recession has been most probably tightly avoided and that is the reason dollar not weakening. Pair depreciating reason is, of course, bad EZ.
  • #27,587
  • Sep 5, 2008 9:27am Sep 5, 2008 9:27am
Quoting oolides
this is so complex.america has a failing economy probably headed towards recession,yet the dollar is getting stronger.i am quitting for today.everyone made profits,while i lost everything i had accumulatede since yesterday.this market is crappy.

bro be strong.. remember we are all in this together
  • #27,588
  • Sep 5, 2008 9:27am Sep 5, 2008 9:27am
I am long from 4250 20pips sl.
target 4350
  • #27,589
  • Sep 5, 2008 9:29am Sep 5, 2008 9:29am
Quoting oolides
this is so complex.america has a failing economy probably headed towards recession,yet the dollar is getting stronger.i am quitting for today.everyone made profits,while i lost everything i had accumulatede since yesterday.this market is crappy.
I believe it's SunTrader that has in his script "trade the reaction". Don't make it more complicated than it is. Hang in there
  • #27,590
  • Sep 5, 2008 9:30am Sep 5, 2008 9:30am
I think it's going to be small boring ranging from now on. Probably gonna get a near doji on daily. I'm off, will glance over from time to time to maybe scalp a small short from 312 area, though doubt we'll get there.

Have a great weekend everybody.
On the path to Enrichment.
  • #27,591
  • Sep 5, 2008 9:33am Sep 5, 2008 9:33am
Quoting oolides
this market is rigged.all my stops have been taken out with these fluctuations.i hate trading the news.it kills me.anyone has an idea why this is not shooting up as expected
As stated, I am a newbie also, but one of the first lessons I learned was DON'T TRADE THE NEWS. Trading801, I forgot to mention on my previous post, but this business (forex) requires discipline like maybe you've never exercised before. I find it to be a great opportunity. It helps me be more disciplined at everything else I do (I'm a lifelong procrastinator). Failing to learn the lessons taught on here COST MONEY.

At about 12:20gmt today, I got out of a long trade at 1.4257, with +10 pips. I was sorely tempted to trade the news, feeling like I had a good guess at where it would lead. There's you clue - all I had was a "good guess"! Getting out caused me to miss 90 more +pips, but guess what? If that NFP would have gone the other way, I easily could have lost 90.

Gotta learn discipline and live to make another trade. There are a million good trades right around the corner.

Got windy, sorry, but good luck.
Up or down, gimme a ticket
  • #27,592
  • Sep 5, 2008 9:33am Sep 5, 2008 9:33am
When I started forex I made a little money and then I lost $2400.00 in one week, I would like to say it stopped there, but spiral down it did.
Redefining Reality
  • #27,593
  • Sep 5, 2008 9:38am Sep 5, 2008 9:38am
Although the news was BAD, $108 a barrel, on the heels of losses in the broad market on a weak monthly jobs report. Notwithstanding, there are too many I T K, in this Thread. Their Advice not only confuse but lead to other things. You don't have to post for the fact that you want to be recognised or want to increase the tally of your posting to forex forum. THINK WISE ALL THE TIME. To the wise among us, I say BIG UP for some of the Good Jobs you are setting forth.
What goes up comes down, so always make Forex better than u met it.
  • #27,594
  • Sep 5, 2008 9:39am Sep 5, 2008 9:39am
Quoting piptechnician
When I started forex I made a little money and then I lost $2400.00 in one week, I would like to say it stopped there, but spiral down it did.
You lost 2400 in your first week of forex trading? Holy ****. I thought losing something like 150 in my first trading week was a lot.

Maarten
  • #27,595
  • Sep 5, 2008 9:43am Sep 5, 2008 9:43am
just a bit off topic technically speaking...but would like to know if anyone out there has used the 3g iphone for streaming forex quotes



thanks in advance,

mm
He who hesitates is hesitant....which always leads to bad entries.
  • #27,596
  • Sep 5, 2008 9:46am Sep 5, 2008 9:46am
Quoting Maarten999
You lost 2400 in your first week of forex trading? Holy ****. I thought losing something like 150 in my first trading week was a lot.

Maarten

Not the first week, but thinking back it was blurr once that started. I went nuts.

I had traded with a little success in the stock market but did not have the leverage that forex had. Stocks also require ridiculous tax returns to be filed, all those damn trades. The leverage killed me. I still don't know what I'm doing but my account grows now in very tiny increments.

When someone says that stops are a way for brokers to make money, I don't disagree, a poorly placed stop will, but when you get the hang of it you can sleep at night. Thats just me.
Redefining Reality
  • #27,597
  • Sep 5, 2008 9:46am Sep 5, 2008 9:46am
Quoting piptechnician
When I started forex I made a little money and then I lost $2400.00 in one week, I would like to say it stopped there, but spiral down it did.
sounds familiar ... lost my initial investment. made it all back + profit. lost it all again ... rebuilding again. vicious cycle it is. not good for the heart. >.< but valuable lessons are learned, so hopefully I avoid the pitfalls going forward.
  • #27,598
  • Sep 5, 2008 9:49am Sep 5, 2008 9:49am
Quoting Mackeymax
just a bit off topic technically speaking...but would like to know if anyone out there has used the 3g iphone for streaming forex quotes



thanks in advance,

mm
thats apple company
  • #27,599
  • Sep 5, 2008 9:51am Sep 5, 2008 9:51am
Quoting Polonaise
I am long from 4250 20pips sl.
target 4350
That's going to be a helluva trade if it works out for you. 20 pips for 100 seems pretty ambitious with the drop it's had, I wouldn't be afraid to take some pips off the table as it retraces that way. Good luck either way
  • #27,600
  • Sep 5, 2008 9:51am Sep 5, 2008 9:51am
i tried scalping on a 1 minute chart today. i got up about 20 pips then took a huge loss. built it back up to profit area. then got greedy and erased profits. ended the day down and even on account.

this is my first week trading real money and even though i didnt make any money i'm glad i kept (for the most part) discipline.

charts look like theyre going to be flat for the rest of today so i'm going to go to class and just stay even and be glad i didnt lose money.

see you guys next week.
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