DislikedJohn Rivera - DailyFX
I've said this 100 times before... Trichet's ego has pushed the zone into a recession and if he's not careful... a depression.
.Ignored
- #38,381
- Oct 9, 2008 8:50am Oct 9, 2008 8:50am
- Joined Oct 2008 | Status: Let the market come to you | 2,670 Posts
Here's a chart for that EJ move with my triggers. If this breaks, then I think you'd likely see similar action on EU.
Failure area for me is in the current zone a'rd 138.70-90ish at the most. Like I said moment of truth.
Failure means H&S is failed, and I would then expect price to continue higher for awhile. It might still drop later, but I'd looking for new reasons at that point, not old failed ones. Hope this is clear.
Line chart is what I use for these as it filters out the candle noise... got that tip from Trout.
Thanks ak4x, for all your posts. I'm learning a lot from you!
- #38,384
- Oct 9, 2008 8:55am Oct 9, 2008 8:55am
- | Joined Dec 2005 | Status: It's only money | 1,413 Posts
Here's a chart for that EJ move with my triggers. If this breaks
Failure area for me is in the current zone a'rd 138.70-90ish at the most. Like I said moment of truth.
Failure means H&S is failed, and I would then expect price to continue higher for awhile. It might still drop later, but I'd looking for new reasons at that point, not old failed ones. Hope this is clear.
Line chart is what I use for these as it filters out the candle noise... got that tip from Trout.
TRADE FOR SWAP
- #38,385
- Oct 9, 2008 8:57am Oct 9, 2008 8:57am
- Joined Aug 2007 | Status: TARFU... | 7,015 Posts
Thanks ak4x, for all your posts. I'm learning a lot from you!
To all newer and unseasoned traders, please consider not trading EJ until you have EU down tight. It'll eat your lunch very quickly. Eu is a GREAT pair, and don't let anyone tell you different. I just happen to have this chart built on EJ and not EU.
Other pairs require strategy tweaks and what works on one pair won't always work on another. I hope this is clear. If you're greedy, you'll ignore this and learn the harder way.
Remember the easy way is hard enuff as it is.
FUBAR...
- #38,386
- Oct 9, 2008 9:01am Oct 9, 2008 9:01am
- Joined Aug 2007 | Status: TARFU... | 7,015 Posts
FUBAR...
- #38,387
- Oct 9, 2008 9:04am Oct 9, 2008 9:04am
- | Joined Jul 2008 | Status: Happiness can only come from within | 1,080 Posts
- #38,388
- Oct 9, 2008 9:05am Oct 9, 2008 9:05am
If you're nailing those AU or GA trades and living to tell about it, I doubt you're learning that much..
To all newer and unseasoned traders, please consider not trading EJ until you have EU down tight. It'll eat your lunch very quickly. Eu is a GREAT pair, and don't let anyone tell you different. I just happen to have this chart built on EJ and not EU.
Other pairs require strategy tweaks and what works on one pair won't always work on another. I hope this is clear. If you're greedy, you'll ignore this and learn the harder way.
Remember the easy way is hard enuff as it is.
- #38,390
- Oct 9, 2008 9:06am Oct 9, 2008 9:06am
- | Joined Jul 2008 | Status: Happiness can only come from within | 1,080 Posts
If you're nailing those AU or GA trades and living to tell about it, I doubt you're learning that much..
To all newer and unseasoned traders, please consider not trading EJ until you have EU down tight. It'll eat your lunch very quickly. Eu is a GREAT pair, and don't let anyone tell you different. I just happen to have this chart built on EJ and not EU.
Other pairs require strategy tweaks and what works on one pair won't always work on another. I hope this is clear. If you're greedy, you'll ignore this and learn the harder way.
Remember the easy way is hard enuff as it is.
edit: one other thing about small positions I learned. Is that even by putting a 1000 unit position on, I found myself watching the chart super closely. It was amazing. And could really see how it was bouncing off support and resistance much much better than usual and without the anxiety of putting a big position down and then getting smashed when it goes against you. But by having that small position down it sharpens your senses and then you can scale in with a bigger position right when it starts breaking in the direction you think it will go and then you have a higher probablity of making the correct decision.
- #38,391
- Edited 9:19am Oct 9, 2008 9:09am | Edited 9:19am
- Joined Apr 2007 | Status: Trader | 3,055 Posts
The best thing that can happen to you is to find out where you're wrong.
- #38,394
- Oct 9, 2008 9:18am Oct 9, 2008 9:18am
- | Joined Jul 2008 | Status: Happiness can only come from within | 1,080 Posts
thanx man it seems like the thing i was looking for
now i should keep out of the market and give some time to this site and then come and see what i have learned is good in practical also . i really appreciate ur help man . thanx. where do u see EU next posting a new low and then jumping back again . or what ?
But yeah, check that website out and practice a few ideas out on your demo account and then practice a few of those workable ideas you get into your live account with tiny positions. Give yourself some confidence first.
Forex trading takes time to get good at and in my opinion requires a large amount of time watching the charts very very closely. Studying the charts and making your own notes on patterns and things that YOU see. The books are all good and well but you must learn the personality of a pair such as the EUR/USD in order to know what patterns work and don't work.
YOu need to realise when the markes change such that you need to change your strategies and that might mean staying out of the market for a few days to come up with some new tradable strategies.
edit: Anyways, I got to get some sleep now. Cya guys tomorrow, and may the Pips be with you...Always
- #38,395
- Oct 9, 2008 9:18am Oct 9, 2008 9:18am
- Joined Aug 2007 | Status: TARFU... | 7,015 Posts
FUBAR...
- #38,396
- Oct 9, 2008 9:23am Oct 9, 2008 9:23am
- | Joined Jul 2008 | Status: Happiness can only come from within | 1,080 Posts
agree with you last night i got 1000k in three smal lots... just put at the right place other it kill ur account in mnts...
but i still stuck with one lot E/U yesterday morning...
Well done on your 1000k too 
- #38,397
- Edited 9:31am Oct 9, 2008 9:30am | Edited 9:31am
- Joined Aug 2007 | Status: TARFU... | 7,015 Posts
I just made myself a BULL SANDWICH, on whole wheat.
All those squiggly lines on top are heavy duty MAyonaise, and the thick red line underneath is catch-up. The BULL is in the middle getting sliced and diced.
First 30% off the EJ at 100 pips, entry was 138.80 EJ at the little kink between the shoulder and head on the line chart. One reason I use that style for finding the features. They show all kinds of cool things.
All those squiggly lines on top are heavy duty MAyonaise, and the thick red line underneath is catch-up. The BULL is in the middle getting sliced and diced.
First 30% off the EJ at 100 pips, entry was 138.80 EJ at the little kink between the shoulder and head on the line chart. One reason I use that style for finding the features. They show all kinds of cool things.
FUBAR...
- #38,398
- Oct 9, 2008 9:35am Oct 9, 2008 9:35am
- Joined Apr 2007 | Status: Trader | 3,055 Posts
The best thing that can happen to you is to find out where you're wrong.
- #38,399
- Oct 9, 2008 9:43am Oct 9, 2008 9:43am
- Joined Aug 2007 | Status: TARFU... | 7,015 Posts
FUBAR...
