"Millionaires don't use astrology, billionaires do"
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #116,761
- Sep 23, 2008 2:46pm Sep 23, 2008 2:46pm
- Joined Apr 2007 | Status: "As Above So Below" | 6,206 Posts
- #116,762
- Sep 23, 2008 2:46pm Sep 23, 2008 2:46pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #116,765
- Sep 23, 2008 2:50pm Sep 23, 2008 2:50pm
- Joined May 2008 | Status: has long shorts | 2,584 Posts
The Power of the weekend price action alone tells me enough that this pair is going down the gutter this week!
Trading with technicals alone is like the blind leading the blind. I've had experience with banks before to know what it's like!
99% of the traders don't know what they are doing! Usually, when one of them buys, the others follow! And the one who leads the herd is usually the Denozo type forex trading field agent who thinks he knows alot but ends up looking like an ass in the end!
Trading without sound fundamentals is like trying to solve a problem without first knowing the tools to use!
FIRST ESTABLISH FUNDAMENTALS! THEN TACKLE TECHNICAL ISSUES!!!
This is how trading or doing any businness for that matter is supposed to work!
And when fundamentals are established, you don't see much of a hope for this pair unless it is willing to lower itself down to it's real nominal value.
Alot of people I know are pissed with this pair simply because it keeps inflating it's value out of thin air, by which this black hole it now expects its own population to fill up. There is a reason why people like George soros and Jim rogers are who they are today, and I can tell you, it's not because of technicals! Sure price rises, but when it burst (and it will definately burst) it will be flushed straight down into the sewers!
And personally in my opinion, as far as I can see, along with the rest of you!!!
loool what a nice joke
you just have proven to have absolutely no clue!
guess what? where are your fundies from? lol, from the guys who love to take your money. real professionals don't care for news, except knowing when another opportunity of dealing with the fake news moves comes up. and yes, even many fund managers and other so called professionals do not know this. it is like everything, a tiny group profits from it. it all is written on the charts, way before but you do not get tought to read them properly. and yes, many systems work, but if you do not take volume and price bars into consideration, you drive the trading car blindly and NOT by ignoring fundies!
you also was buying oil as hell i suppose, when prices where at 140$ and us was told we see 200$ a barrel soon. guess what? yes, the daily chart with volume told oil crapping without a clue and was a nice trade, whilst your fundies said oil gets more expensive.
sorry, you just qualified for the position of "i want to seem as if i have a clue where i talk from"
i always take offending posts personal.i s*** on fundies and guess what, i am doing pretty well with that, since i understand that their purpose is nothing more than confusion. with that, i am always smiling when i see price is doing what it should after manipulation has taken place and the fundietraders have been gotten from behind. so called analysts often talk BS and when they are right, it gets emphasized. but charts never lie. theres pretty much no problem to know which short oppoortunity comes up, before the news.
noting separates you from the herd, since you take fundies like they should be taken and think you got the edge.
- #116,767
- Sep 23, 2008 2:57pm Sep 23, 2008 2:57pm
- Joined Apr 2007 | Status: "As Above So Below" | 6,206 Posts
"Millionaires don't use astrology, billionaires do"
- #116,768
- Sep 23, 2008 3:00pm Sep 23, 2008 3:00pm
- Joined Apr 2007 | Status: "As Above So Below" | 6,206 Posts
"Millionaires don't use astrology, billionaires do"
- #116,769
- Sep 23, 2008 3:08pm Sep 23, 2008 3:08pm
- | Joined Dec 2007 | Status: Pakute Trader | 885 Posts
it seems that price in forex moves 30 pips at a time ... not sure why .... something I noticed
here is GJ for today .. note how those T30 lines work as support / resistance lines
Attachment
- #116,770
- Sep 23, 2008 3:14pm Sep 23, 2008 3:14pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Next question, do you draw the lines yourself each day or do you have an indicator that does it? I have one that I can make draw lines 30 pips apart, but not sure how to make it link to the daily pivot & start from there. I'm just lazy .. drawing new lines each day, one more thing to do
do not know how to do it in MT4
Blogging daily now at www.volume.zone
- #116,773
- Sep 23, 2008 3:28pm Sep 23, 2008 3:28pm
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
Forex market hours. When to trade and when to not
Forex market is open 24 hours a day. It provides a great opportunity for traders to trade any time of the
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And so, there are hours when two sessions are overlapped:
New York and London — 8:00 am — 12:00 am EST
Sydney / Tokyo — 7:00 pm — 2:00 am EST
London /Tokyo — 3:00 am — 4:00am EST
For example, trading EUR/USD, USD/GPB currency pairs would give good results between 8:00 am and 12:00 am EST when two markets for those currencies are active.
At those overlapping trading hours you'll find the highest volume of trades and therefore more chances to win in the foreign currency exchange market.
We have made it easy for everyone to monitor forex trading hours sessions while being anywhere in the world: Download Free Forex Market Hours Monitor v2.11 (500KB)
- #116,774
- Sep 23, 2008 3:30pm Sep 23, 2008 3:30pm
- Joined Oct 2005 | Status: Trader | 3,596 Posts
Lets assume eur/usd is currently at 1.3000. spread not included for simplicity.
Buy @ 1.3010, 1.3020, 1.3030 etc. Take profit every 10 pips 20,30,40 etc.
Sell @ 1.2990, 1.2980, 1.2970 etc. Talke profit every 10 pips 80,70,60 etc.
Lets say that market moves up to 1.3010. Books 10 pips profits. Now as soon as the first 10 pip profit is taken at 1.3010 bid then a sell stop order is placed @ 1.3010 and 1.3000. The buy stop that was at 1.3010 is now a sell stop.
The concept is stop orders are added in the grid on both sides of current price NOT limit orders. This way if we have a run in one direction you are collecting pips all the way. If there is a retrace then you can also collect pips in that direction.
Buy @ 1.3010, 1.3020, 1.3030 etc. Take profit every 10 pips 20,30,40 etc.
Sell @ 1.2990, 1.2980, 1.2970 etc. Talke profit every 10 pips 80,70,60 etc.
Lets say that market moves up to 1.3010. Books 10 pips profits. Now as soon as the first 10 pip profit is taken at 1.3010 bid then a sell stop order is placed @ 1.3010 and 1.3000. The buy stop that was at 1.3010 is now a sell stop.
The concept is stop orders are added in the grid on both sides of current price NOT limit orders. This way if we have a run in one direction you are collecting pips all the way. If there is a retrace then you can also collect pips in that direction.
Next question, do you draw the lines yourself each day or do you have an indicator that does it? I have one that I can make draw lines 30 pips apart, but not sure how to make it link to the daily pivot & start from there. I'm just lazy .. drawing new lines each day, one more thing to do
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- #116,775
- Sep 23, 2008 3:30pm Sep 23, 2008 3:30pm
- Joined Oct 2005 | Status: Trader | 3,596 Posts
Thanks, i like the chart ..
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- #116,778
- Sep 23, 2008 3:34pm Sep 23, 2008 3:34pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Anyone short? Looks like bear party in ongoing.
Blogging daily now at www.volume.zone
- #116,779
- Sep 23, 2008 3:36pm Sep 23, 2008 3:36pm
- Joined Oct 2005 | Status: Trader | 3,596 Posts
THE STRATEGY
Study more, do not rush, do not get greedy, patient, patient…
The successful in FOREX is not how many trades you gain per-day,
neither how much pips you gain per trade, but minimum or NOT
losing any trade.
You only need gain 10 pips per day, consistently with minimum or
almost NO lost to make 150-200 K/ year.
You can do it if and only if you make 10 pips / day NO LOST.
The PLAN math:
You open an account for $1000.
You make 1 trade a day (2 in most but just say only one for sure),
and 2 mini lot, make $20/day x 5 day = $100./week/ $400/month.
Do this for 2 months—January & February
March 2008-acct. = 1,800, you trade 4 mini lots, make $800.
April 2008-acct. = 2400, trade 6 mini lots make 1200
May 2008-acct. = 3600, trade 8 mini lots make 1600
June 2008-acct. = 5200, trade 10 mini lots, make 2000
July 2008-acct. = 7200, trade 15 mini lots, make 3000
August 2008-acct. = 10,200 switch to standard account,
trade 2 STD LOTS; make 1000/week, 4K per month.
September 2008-acct. = 14,200 trade 3 STD LOT, make 6K
October 2008-acct. =20.2K trade 4 STD LOT, make 8K
November 2008-acct. = 28.2K trade 6 STD lot make 12K
December 2008-acct. = 40.2K trade 8 lot make 16 K.
Total for year, app. 56K.
After 1 year, from 1K , you make 16 K / month, 192K per year
( and so on if you want, and after 1 year experience, then you can
make 2 trades per day)
All of that is ONLY 10 PIPS/ TRADE/ DAY IF and ONLY IF you gain
100% ( or almost) 10 PIPS.
(I think most of us could live on this type of income--don't get
greedy)
Study more, do not rush, do not get greedy, patient, patient…
The successful in FOREX is not how many trades you gain per-day,
neither how much pips you gain per trade, but minimum or NOT
losing any trade.
You only need gain 10 pips per day, consistently with minimum or
almost NO lost to make 150-200 K/ year.
You can do it if and only if you make 10 pips / day NO LOST.
The PLAN math:
You open an account for $1000.
You make 1 trade a day (2 in most but just say only one for sure),
and 2 mini lot, make $20/day x 5 day = $100./week/ $400/month.
Do this for 2 months—January & February
March 2008-acct. = 1,800, you trade 4 mini lots, make $800.
April 2008-acct. = 2400, trade 6 mini lots make 1200
May 2008-acct. = 3600, trade 8 mini lots make 1600
June 2008-acct. = 5200, trade 10 mini lots, make 2000
July 2008-acct. = 7200, trade 15 mini lots, make 3000
August 2008-acct. = 10,200 switch to standard account,
trade 2 STD LOTS; make 1000/week, 4K per month.
September 2008-acct. = 14,200 trade 3 STD LOT, make 6K
October 2008-acct. =20.2K trade 4 STD LOT, make 8K
November 2008-acct. = 28.2K trade 6 STD lot make 12K
December 2008-acct. = 40.2K trade 8 lot make 16 K.
Total for year, app. 56K.
After 1 year, from 1K , you make 16 K / month, 192K per year
( and so on if you want, and after 1 year experience, then you can
make 2 trades per day)
All of that is ONLY 10 PIPS/ TRADE/ DAY IF and ONLY IF you gain
100% ( or almost) 10 PIPS.
(I think most of us could live on this type of income--don't get
greedy)
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