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  • #27,901
  • Sep 7, 2008 3:49pm Sep 7, 2008 3:49pm
Quoting IRISH37
If you are losing 33% of your account you are assuming too much risk. I "traded" for 2 years before I figured out what was killing me--leverage and pip value. Pip value is most important. I am now a profitable trader by observing the iron rule: $1 pips for every $1000 in the account. Do this and you will always live to fight another day. Good luck.
Unless you trade without stops ^
  • #27,902
  • Sep 7, 2008 3:51pm Sep 7, 2008 3:51pm
Quoting IRISH37
My friend, if there is war in Europe and a collapse of the EU, the Euro goes to 0.50 and the dollar is king--again.
U just dont get it my point

EU 1.6 = oil 150$/b = massive civil dissorder in EU

After that u will see eu 0.5 but for now we are gonna to parity,
It was just retest of workers patient,Plan made by worlds elite a.k.a Bilderberg's Club.
EU collapse would be against globalisation plan so cant happen.
  • #27,903
  • Sep 7, 2008 3:52pm Sep 7, 2008 3:52pm
Quoting kasper
as far as gaps go ... how far do they usually "fill" ? that is .. a large percentage of the time.

EDIT: I must add. the volatility with gaps ... is ... somewhat frightening.
i know its still early...probably the bigger move is yet to follow however, 1.4300 seems to be quite a strong support right now, 1.4350 the temporary resistance so considering were 120+ pips from fridays close...this looks like one of those times where this gap does not get filled...unless theres every intent to push the pair lower IGNORING the news...just my 2cents
Different opinions highly valued, ignorant to slander.
  • #27,904
  • Sep 7, 2008 3:52pm Sep 7, 2008 3:52pm
Quoting Verto
Unless you trade without stops ^
Yes you are correct-- I always use a stop unless I am sitting in front of my computer and I can close a losing trade manually. Thanks for the correction.
  • #27,905
  • Sep 7, 2008 3:53pm Sep 7, 2008 3:53pm
hai guy..so what can happen today??does eu can 'fil; this gap or not...?
  • #27,906
  • Sep 7, 2008 4:12pm Sep 7, 2008 4:12pm
Quoting 4xisfun
WOW!! I don't think I have ever heard that before: women can control their emotions better. Thanks for the compliment and vote of confidence. I do try my best!!
You are welcome

It is something like driving, many men laugh at how woman drive but yet, insurance statistics show much less accidents with woman behind the steering wheel.
  • #27,907
  • Sep 7, 2008 4:17pm Sep 7, 2008 4:17pm
Quoting IRISH37
If you are losing 33% of your account you are assuming too much risk. I "traded" for 2 years before I figured out what was killing me--leverage and pip value. Pip value is most important. I am now a profitable trader by observing the iron rule: $1 pips for every $1000 in the account. Do this and you will always live to fight another day. Good luck.
agree with one mini lot every $1000.
  • #27,908
  • Sep 7, 2008 4:17pm Sep 7, 2008 4:17pm
Quoting psiholog
i know its still early...probably the bigger move is yet to follow however, 1.4300 seems to be quite a strong support right now, 1.4350 the temporary resistance so considering were 120+ pips from fridays close...this looks like one of those times where this gap does not get filled...unless theres every intent to push the pair lower IGNORING the news...just my 2cents

Thinking about what everyone was talking about earlier. IF, I said IF, (think of a large rooster), the "gap" , I said "gap", we see on our "brokers" platform isn't real but "psychological", would that give it statistical probability of being closed?

I dunno, I dunno, but it will be interesting to learn.
Redefining Reality
  • #27,909
  • Sep 7, 2008 4:19pm Sep 7, 2008 4:19pm
Quoting piptechnician
Thinking about what everyone was talking about earlier. IF, I said IF, (think of a large rooster), the "gap" , I said "gap", we see on our "brokers" platform isn't real but "psychological", would that give it statistical probability of being closed?

I dunno, I dunno, but it will be interesting to learn.
my "guess" .. and yes it is just that. i dont think it will get filled.
  • #27,910
  • Sep 7, 2008 4:33pm Sep 7, 2008 4:33pm
Quoting kasper
my "guess" .. and yes it is just that. i dont think it will get filled.

Are you a tradin that there guess or are you a waitn confirmation?
Redefining Reality
  • #27,911
  • Sep 7, 2008 4:34pm Sep 7, 2008 4:34pm
My guess or opinion is it'll get filled because all the talk about global currencies weakening and the US Dollar remaining somewhat strong.

cwave
Happing Trading
  • #27,912
  • Sep 7, 2008 4:35pm Sep 7, 2008 4:35pm
Quoting piptechnician
Are you a tradin that there guess or are you a waitn confirmation?
wating confirmation. if it breaks 1.431 with force. then i may be mistaken.
  • #27,913
  • Sep 7, 2008 4:46pm Sep 7, 2008 4:46pm
i donno about you guys but heres how i see things. the dollar opening so weak against the euro and so strong against the jpy tells me 2 possible outcomes.
1)if correlation will stabilize, this just created alot of room for the dollar to drop against both EUR and JPY
2)the dollar will continue to get stronger
question is..which one is more likely

Edit:or has a new correlation been formed last week where the dollar drops and gains against both at same time..hmmm...
Different opinions highly valued, ignorant to slander.
  • #27,914
  • Sep 7, 2008 4:47pm Sep 7, 2008 4:47pm
Quoting psiholog
i donno about you guys but heres how i see things. the dollar opening so weak against the euro and so strong against the jpy tells me 2 possible outcomes.
1)if correlation will stabilize, this just created alot of room for the dollar to drop against both EUR and JPY
2)the dollar will continue to get stronger
question is..which one is more likely
imo but I'm just a newb
  • #27,915
  • Sep 7, 2008 5:02pm Sep 7, 2008 5:02pm
Quoting piptechnician
Thinking about what everyone was talking about earlier. IF, I said IF, (think of a large rooster), the "gap" , I said "gap", we see on our "brokers" platform isn't real but "psychological", would that give it statistical probability of being closed?

I dunno, I dunno, but it will be interesting to learn.

I just realized how ridiculous my own question really is. This thing could go up for 10 years and then finally come back down and fill this area and someone would point to it and say, "yep them gaps always get filled".

Or it could fill in a few hours and someone would point to it and say ,"yep them gaps always get filled"

No win situation if the folks that say it doesn't exist are right. LOL
Redefining Reality
  • #27,916
  • Sep 7, 2008 5:08pm Sep 7, 2008 5:08pm
the thing that i cant understand is why those gaps should be filled? i mean there's no rule says that but a historical call
I recommend you read something else as this sentence is now concluded.
  • #27,917
  • Edited 5:26pm Sep 7, 2008 5:15pm | Edited 5:26pm
seems like a long from here.

Went long EURUSD and AUDUSD for the Halibut.
  • #27,918
  • Sep 7, 2008 5:16pm Sep 7, 2008 5:16pm
This gap is wave 3 so wont be filled.
Pice gonna bounce from 14313 area or even quicker (depend on investor patience)
We just watching simple bullflag.
  • #27,919
  • Sep 7, 2008 5:17pm Sep 7, 2008 5:17pm
Quoting Obaidah
the thing that i cant understand is why those gaps should be filled? i mean there's no rule says that but a historical call
from what ive seen the gaps do get filled when there was a gap based on no news. lets say the market closed friday at 1.4225 opened at 1.4350+. now if there was no news, in theory that gap should be filled because there was no reason for it in the first place. on the other hand...there was big news...the freddie/fannie news especially which support this gap, what makes no sense to me though is the correlation between the pairs...its all messed up right now
Different opinions highly valued, ignorant to slander.
  • #27,920
  • Edited 6:00pm Sep 7, 2008 5:25pm | Edited 6:00pm
Forgot to post this late Friday nite after getting it done. It's the alternative scenario I referred to in the chart I posted right after the Friday close here... http://www.forexfactory.com/showpost...ostcount=27682

After later hearing about the potential Fed plan announcement on Saturday I decided it was the more likely of the two, at least for the short term. It also satisfies the "it has to retrace sometime" part of my brain no matter how low it ultimately goes. But like my wife says in her best bubba drawl "it don't have to do nothing..."

The ranges shown are simply TL's, S/R fibs, and psych levels, no rocket science involved. Unfolding events could easily amplify the higher levels higher and the lower levels lower, or simply accelerate and compress the price action timewise. For instance, I had no idea when I reset the TP 500 pips on an EJ trade from 1k (156.75 to 151.75) to 1.5k pips that it would hit within a few hours!! I was thinking maybe days. Therefore the chart text reading "next few weeks" for the H&S to form could easily read days instead, or even hours given current volatility.

Remember no straight lines to anywhere, and don't forget this is a weekly chart in volatile times.

PS It would appear the gap open has nudged us in this direction sooner rather than later, but as I said with the Friday chart post, I'm not getting on that Bull Bus just yet...
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FUBAR...
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