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  • #30,341
  • Sep 15, 2008 10:42am Sep 15, 2008 10:42am
I use a GTS charting software as another comparision. The only thing is that you can not put as many indicators on as on metatrader. The software is pretty precise. I always check this one for the trend the chart might go.
  • #30,342
  • Sep 15, 2008 10:46am Sep 15, 2008 10:46am
Quoting acumen
I wish I were great.

Just an average guy that's too stupid to quit.

Thanks for the kind words.
You know what, I was thinking about what you said here (I know you are a good trader that has no reason to quit), I made a huge amount of pips so far this month but if I would have spend that time in my business I would have done more bucks.
Sleepiness nights and sleepy days are the results.
I will never quit, it took me too much to come to where I am but I will setup a special, limited time to trade otherwise I will loose more than I gain, social live for example.
Money isn’t all in live.
  • #30,343
  • Sep 15, 2008 10:59am Sep 15, 2008 10:59am
Quoting cobraforex
You know what, I was thinking about what you said here (I know you are a good trader that has no reason to quit), I made a huge amount of pips so far this month but if I would have spend that time in my business I would have done more bucks.
Sleepiness nights and sleepy days are the results.
I will never quit, it took me too much to come to where I am but I will setup a special, limited time to trade otherwise I will loose more than I gain, social live for example.
Money isn’t all in live.
am trying to do this too,,, my solution is week long trades.. but so far.. not good results..
  • #30,344
  • Sep 15, 2008 11:00am Sep 15, 2008 11:00am
Quoting Algirdas
http://2.bp.blogspot.com/_nmIuQsC9b-...R_USD+Spot.png

In FOREX 1pip is very important. We did ENTRY at 1.4227, we took our daily 40 pips and later moved Stops to Entry . Price came back , but it did not touch our Stops 1 pip.If it breaks next pivot I'll make later, but for now we Short since 1.4227 and Stops are same.
If you in FOREX little longer you can trade eassy with 3,5 not more 7 pips accuracy.
Now take 1/4 profit 55 pips,and I see today's pivot little differantly. I'll make post later.
{Promotion Removed}
  • #30,345
  • Sep 15, 2008 11:03am Sep 15, 2008 11:03am
Quoting trading801
am trying to do this too,,, my solution is week long trades.. but so far.. not good results..
This isn't coming from one day to the other, you are changing or developing your trading style, that takes time.

BTW do anyone know a very good source to learn about Elliot waves, there are sooo many in the net, may be someone that works with them can give me a recommendation what is the best one.
Thanks in advance
  • #30,346
  • Sep 15, 2008 11:05am Sep 15, 2008 11:05am
Quoting Algirdas
Now take 1/4 profit 55 pips,and I see today's pivot little differantly. I'll make post later.
How or from what analisys you get your entry point at 1.4227?. Thanks in advance.
  • #30,347
  • Sep 15, 2008 11:11am Sep 15, 2008 11:11am
Here is my last live trade

Inserted Video
Check Mate GAME OVER
  • #30,348
  • Sep 15, 2008 11:15am Sep 15, 2008 11:15am
I sell eur/usd on 1.3942 So I am here in loss of near about 250 PIP . Should I keep position continue or I have to close it here to avoid more loss.
  • #30,349
  • Sep 15, 2008 11:17am Sep 15, 2008 11:17am
Quoting k9doog
How or from what analisys you get your entry point at 1.4227?. Thanks in advance.
Really it's from 12 years experience, what people use now in FOREX it's just Tools. And it's good to use tham. But it doesn't work in other level. Biges tool is your experience and time. Just practice, practice and practice and go fallow somebody you like and understand.
I see many talented traders in this FORUM.
{Promotion Removed}
  • #30,350
  • Sep 15, 2008 11:19am Sep 15, 2008 11:19am
Quoting bunton
Here is my last live trade

http://www.youtube.com/watch?v=n6zd6xNwjMI
hey watched your video, good job. Quick question you mentioned a trend reversal, you were speaking to the trend reversal as in last evening/early morning or a trend reversal in the dollar losing strength potentially. I didn't quite catch that, forgive me. Thanks in advance for your response. Also any thoughts you may have concerning market direction at this time.

M
  • #30,351
  • Sep 15, 2008 11:22am Sep 15, 2008 11:22am
Quoting atuls
I sell eur/usd on 1.3942 So I am here in loss of near about 250 PIP . Should I keep position continue or I have to close it here to avoid more loss.
Well, you went short at the same time I went Long.
GL to your trade.
We will see that price some day, now if it is this month or next Year, hard to tell.
Monthly Trend still Euro, Daily is USD.
My favorite Trade Channel for next 60 days is 1.40/1.50.
Now you must choose, what to do!

Good Luck!
  • #30,352
  • Sep 15, 2008 11:22am Sep 15, 2008 11:22am
Quoting Algirdas
Really it's from 12 years experience, what people use now in FOREX it's just Tools. And it's good to use tham. But it doesn't work in other level. Biges tool is your experience and time. Just practice, practice and practice and go fallow somebody you like and understand.
I see many talented traders in this FORUM.
Thanks again for share your experience and for take your time to answer my questions, i appreciate.
  • #30,353
  • Sep 15, 2008 11:25am Sep 15, 2008 11:25am
I sell eur/usd on 1.3942 So I am here in loss of near about 250 PIP . Should I keep position continue or I have to close it here to avoid more loss.
  • #30,354
  • Sep 15, 2008 11:28am Sep 15, 2008 11:28am
Quoting atuls
I sell eur/usd on 1.3942 So I am here in loss of near about 250 PIP . Should I keep position continue or I have to close it here to avoid more loss.
i think ...
be patient my brother we should see bottom retest
best thing to do is short here and close all at 1.4

edit : and short all till 144 with 50 pips step
  • #30,355
  • Sep 15, 2008 11:30am Sep 15, 2008 11:30am
Quoting atuls
I sell eur/usd on 1.3942 So I am here in loss of near about 250 PIP . Should I keep position continue or I have to close it here to avoid more loss.
My newbie opinion: Dump it.
I was sticking to loosing trades and lost huge amount of money. I now dump them without mercy.

Tomorrow will be big day for news, if they come out bad - EUR will probably make it a bit more up (Although it has been ignoring bad news for a while, the pot with nasty US surprises slowly gets very full).

But I let others, who have more experience speak.
  • #30,356
  • Sep 15, 2008 11:37am Sep 15, 2008 11:37am
Red arrow shows my bias for now on EU. Obviously what it does from here is critical as it closed at the 50% level. As the markets may still be somewhat stunned from the changing landscape in Financials, it may take some time for those "not in the know" to get back in the water, so I would not be surprised to see it range here at 4200ish for a while either.

Those "in the know" will likely set the direction from here... imo. I'm content to watch and sweep up a few crumbs here and there. Kinda fun. UJ looking more predictable as it's staying in a certain range that's very tradeable at the moment. I'll be hanging out between the Bollinger Bands till things break one way or other (but not on the 8hr!!).

Don't look at RED ARROW as indication of short term movement, that's an 8 HOUR chart for those of you whose trading strategy still consists of refreshing this thread and then clicking on the latest opinion from whoever...
Attached Image
FUBAR...
  • #30,357
  • Sep 15, 2008 11:44am Sep 15, 2008 11:44am
Quoting don.key
My newbie opinion: Dump it.
I was sticking to loosing trades and lost huge amount of money. I now dump them without mercy.

Tomorrow will be big day for news, if they come out bad - EUR will probably make it a bit more up (Although it has been ignoring bad news for a while, the pot with nasty US surprises slowly gets very full).

But I let others, who have more experience speak.
right news does not apparently working for market price changes for this critical time , so bad or good do not matter. I do not think to change my style of shorts for eurusd to long ones because the world is backing USD to stabilize anyway now whether they are "European Central Bank (ECB) and Bank of England (BoE)" or any others not visible to come out the century economic disaster of the US & the whole world. There must be some adjustments not seen by us and driven by mere data's published.

So I am still continuing shorts here & not so unhappy. The big downtrend should not be reversed as a whole & there should not be any FED rate cut anyway tomorrow .


"But they do not seem any effect this time of great crisis in the US and friend & foes all to work together to save the greatest turmoils of the century .

Dollar rebounds from earlier dive amid Lehman Brothers crisis
Date: 9/15/2008 2:54:00 PM
The dollar rallied against the euro on Monday, reversing earlier heavy falls, as foreign exchange dealers reacted to the US financial crisis after the collapse of investment giant Lehman Brothers.

"The turbulences in the US financial system should stay in the focus of the FX (foreign exchange) markets in the next couple of days," said Commerzbank analyst Ulrich Leuchtmann.

Moves by the world central banks to ease global markets turmoil appeared to have done little to calm investors' nerves, analysts said.

The US Federal Reserve, European Central Bank (ECB) and Bank of England (BoE) injected tens of billions of dollars into money markets after the fall of the banking titans under the weight of the massive financing of bad loans.

"It remains to be seen whether today's (BoE) operation will be sufficient to restore market confidence," warned Royal Bank of Scotland analyst Jacques Cailloux.

Lehman Brothers said it would file for bankruptcy on Monday after a frantic weekend of negotiations failed to arrange a rescue.

In the fallout, Bank of America took over Merrill Lynch in a 50 billion dollar deal, insurance giant AIG was reported to have sought a massive emergency loan to head off its own crisis and a group of banks set up a 70-billion-dollar global emergency fund.


fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #30,358
  • Edited 12:27pm Sep 15, 2008 12:00pm | Edited 12:27pm
Quoting fontu
..right news does not apparently working for market price changes for this critical time , so bad or good do not matter.
It doesn't matter what the news is for the market, simply becuz the news you and I hear is not the news that the guys that move the markets are listening to. Furthermore, they don't listen to the news simply becuz they MAKE the news.

Case in point that comes to mind from recent weeks (posted Aug 23), there are others as well.
http://www.marketoracle.co.uk/index....ticle&sid=5986

Who do YOU think was being referred to?? The notion that the big dogs woke up this morning and found out about everything we found out about is simply ludicrous. Money has been moving around long before this news "broke" on CNN or wherever.

Think about it. Or not.

PS: Fontu, agree with you about EU, did not mean to sound like I was taking issue with what you said... Still USD bullish overall...
FUBAR...
  • #30,359
  • Sep 15, 2008 12:09pm Sep 15, 2008 12:09pm
Quoting atuls
I sell eur/usd on 1.3942 So I am here in loss of near about 250 PIP . Should I keep position continue or I have to close it here to avoid more loss.
Everyone have their choices based on fundamentals, indicators, Senior members opinions, but only you can do your choices.

I don't know how leverage are you.
But my advice is:
If you can without blow your account.
Set Entry Short order at 1.4367. Set SL 1.4484
Pray then for price come down again and close the two orders at 1.4150.
GL
  • #30,360
  • Sep 15, 2008 12:14pm Sep 15, 2008 12:14pm
I'm Long at 1.4208 is it save ?

advice please
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