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  • #31,661
  • Sep 18, 2008 7:55am Sep 18, 2008 7:55am
Quoting efgsrl
Ready to start climbing the ladder again? Doing the dance around the 23,6 fib/support you mentioned a bit ago. BULL it is...
bull it is and not sh*t
Different opinions highly valued, ignorant to slander.
  • #31,662
  • Sep 18, 2008 7:56am Sep 18, 2008 7:56am
Quoting psiholog
forecast..this was/is just another bear trap and well end the day at a new high probably close to 1.46 or above...the news is too bad and now theres nothing to help the dollar anymore...not even a "shortage" of it


UTL on H1 meets today's M5, supporting your high. The day basically started (GMT +0) at M3....giving us a textbook M3 to M5 move.
  • #31,663
  • Sep 18, 2008 8:02am Sep 18, 2008 8:02am
Quoting dougdude9
Guys,
I'm so lost here. Since going live on Monday I've lost 1/3 of my capital. I don't know if this week is just different than others or what. I've seen potential to make a lot of pips, but I've obviously been on the other side.

I've tried looking at fibs, triangles, pivots, etc. None of which seem to help me much. I must be using them incorrectly.

Not sure where to go from here. Part of me wants to stick with it and another part of me wants to quit... forever.

Everytime I think I have a working strategy and then try it live, it fails. For instance, I was looking at stochs and rsi's. I found a simple strategy that when looking at a chart's history, it seems good, but when trying live it failed. I'd either get it too late waiting for confirmation or I'd get in too early and didn't let what I was looking for fully form.

I'm so lost I don't know what to do. This probably has been an odd week, but there's been lots of movement and movement to me = opportunity.

Any advice, comments, slaps in the face, suggestions are welcome.

Thanks,
Doug

Try trading 1 microlot. Determine your gains/losses by pips, not money. Realize that you are still trading real money, so that you have a sense of the fear and greed factors. If 1 microlot doesn't give you that feeling, then use 2, 3, etc., until you feel that fear/greed that enters into your decisions. That way, you learn how to trade a real account and you stay in business long enough to become a successful seasoned trader. Secondly, find indicators that you like, that trip your trigger. Then, put those on all time frames and stick with them. Learn how to build your skills with those indicators. I personally like using ones that are similar to what the big boys use, such as common moving averages--200, 50, 34, 17. Common timeframes such as 15/60/4hr/daily; fib retracements and expansions, and support and resistance (highs and lows and trendlines). StochRSI or some other momentum indicator, just to show strength of move. That is my suggestion.
  • #31,664
  • Sep 18, 2008 8:03am Sep 18, 2008 8:03am
Quoting TIckerShuffl
I was thinking last night about the recent strength in the dollar. I was pondering the possibility that the FED knew the looming banking scandal but workin in concert with other nations built up the dollar to a point to allow Eurpeon exports orders to be placed at fair valuation, but more importantly allow the US to flood the globe with US dollars that were not COMPLETELY worthless. Imagine if we had to do all these bailout when the EURUSD was at 1.59...the dollar would be detroyed today.

Just some food for thought.
That is very interesting thought considering that the dollar strenghtened because of collaboration between almost all the major central banks. And this is not some crazy conspiract theory.

http://www.cnbc.com/id/26431103

ps. this is one thing that warren really was correct about.

By the way price action at the moment looks again like someone is messing with the money supply again. Oil up, poor news and dollar strengtens? Wtf?
  • #31,665
  • Sep 18, 2008 8:08am Sep 18, 2008 8:08am
Warren was ALWAYS right, as he knew where to get the right info and then post it here.

I miss the guy !!!
  • #31,666
  • Sep 18, 2008 8:10am Sep 18, 2008 8:10am
Quoting Freddyfx
Warren was ALWAYS right, as he knew where to get the right info and then post it here.

I miss the guy !!!
He certainly was not always right, almost all his trade calls would have lead to financial disaster.

He was very good copypasting million articles a day that backed his opinions.
  • #31,667
  • Sep 18, 2008 8:11am Sep 18, 2008 8:11am
Quoting mikkom

By the way price action at the moment looks again like someone is messing with the money supply again. Oil up, poor news and dollar strengtens? Wtf?
sniff sniff something stinks in here badly...ugh its some poo from a bear caught in a trap...i better stay away until the stink goes away
Different opinions highly valued, ignorant to slander.
  • #31,668
  • Sep 18, 2008 8:15am Sep 18, 2008 8:15am
anybody has an idea of whats going on?
  • #31,669
  • Sep 18, 2008 8:15am Sep 18, 2008 8:15am
Quoting mikkom
That is very interesting thought considering that the dollar strenghtened because of collaboration between almost all the major central banks. And this is not some crazy conspiract theory.

http://www.cnbc.com/id/26431103

ps. this is one thing that warren really was correct about.

By the way price action at the moment looks again like someone is messing with the money supply again. Oil up, poor news and dollar strengtens? Wtf?
just heard on NPR that over 100 billion in money pumped into the money market to stabilize. We might be in for a shock on where this is headed.
  • #31,670
  • Sep 18, 2008 8:18am Sep 18, 2008 8:18am
Who let the bears out ??
  • #31,671
  • Sep 18, 2008 8:19am Sep 18, 2008 8:19am
Quoting dougdude9
I'm losing it by having to large a stop loss I think. They've been set around 200 pips. I've tried 20 pips too, and those get stopped and then of course shortly after the stop, it heads in the other direction where I would have profited.
I don't know how much you are wagering and what time frames you are trading. But if you are getting stopped on a 200pip stop, you are either on the wrong side of the trend or could think about laddering into a position. If you added instead of sold after 200 pip move aginst you, what would have happened?
  • #31,672
  • Sep 18, 2008 8:21am Sep 18, 2008 8:21am
Quoting Polonaise
Who let the bears out ??
the only thing i can think of is retesting the neckline for the inverted head and shoulder on 4h chart with neckline at 1.4420....
were about to see if it holds
Different opinions highly valued, ignorant to slander.
  • #31,673
  • Sep 18, 2008 8:24am Sep 18, 2008 8:24am
This could be the range for a while. 1.40 to 1.46 Thinking of cashing out because I want to keep the money. Maybe come back after the picture clears a bit. Part of me wants to play a potential commodities spike and dollar devaluation, but it seems like there is data to support either side of the story.

(edit: I am not giving up yet)
  • #31,674
  • Sep 18, 2008 8:25am Sep 18, 2008 8:25am
Could that be just a retracement?
  • #31,675
  • Sep 18, 2008 8:26am Sep 18, 2008 8:26am
just my two cents

http://i50.photobucket.com/albums/f3...ackerz/8-1.jpg
  • #31,676
  • Sep 18, 2008 8:28am Sep 18, 2008 8:28am
http://4.bp.blogspot.com/_nmIuQsC9b-...R_USD+Spot.png
{Promotion Removed}
  • #31,677
  • Sep 18, 2008 8:33am Sep 18, 2008 8:33am
Quoting gamemorph
Could that be just a retracement?

.618 retracement on hourly is 1.4395
  • #31,678
  • Sep 18, 2008 8:34am Sep 18, 2008 8:34am
Quoting Freddyfx
Warren was ALWAYS right, as he knew where to get the right info and then post it here.

I miss the guy !!!
No,Warren always mention that he was not trading the EU , only the Usd/Jpy. Ill say he is welcome but not to plast the whole forum with news from other newspapers. Only the link will do and that was mentioned a lot of times. ONLY THE LINK

Come on Warren, give us inputs like Algirdas and some of the other traders. The newbies want to see the reasoning and debate about a trade and possible setup. Thu that they will learn quicker and not blow their accounts.The big news says nothing, priceaction does.

PS. He is lurking here at the bottom sometimes. As I said, he is welcome with a positive input.
  • #31,679
  • Sep 18, 2008 8:36am Sep 18, 2008 8:36am
Quoting gamemorph
Could that be just a retracement?
Don't think anything as such confined to the screen & charts only. It is reflection of worldwide economic disaster of the century initiated by unregulated US BIG firm sponsored by the most big worlds economic powers & with trouble now shake the universe economically .

Hope they will calm down or all become practical to ignore/immunise such disasters in time & then we will see the charts if any retracements or trend going on here .

just sitting & watching the evils .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #31,680
  • Sep 18, 2008 8:36am Sep 18, 2008 8:36am
Ok, tell me if this was a smart move. I'm playing with a small order. I placed a sell stop at 1.4392 thinking that if it got past the psych at 1.4400, it would continue to fall. So I place the sell stop at 1.4392. My SL and TP at 15 out. Does this sound like I have no idea what I'm doing?
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