EURUSD | Page 2014 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD, GBP/USD, USD/CHF

Similar Threads

MT4: how to change "EURUSD" to "#EURUSD"? 3 replies

Re: EurUsd short term 15 replies

did oanda just drop its spread for eurusd to 1 pip? 11 replies

EA for multiple lot limit order for EURUSD 0 replies

NFP nice bump up on EURUSD 2 replies

Attachments: EURUSD
Exit Attachments

EURUSD

  • #40,261
  • Oct 20, 2008 8:23pm Oct 20, 2008 8:23pm
so yea...price action for the past 11 or 12 hours has been...reminiscent of what normal markets are like...periods of high inactivity followed by maybe one or two big moves for the day. price range has been contained within a 80pip range since the last move down with very visible breakout spots...1.3460 to the upside...1.3287 and below to the downside. we are also currently in a sideways wedge...why is it important?...because the price action gets narrower and narrower and a break of those walls will be a good indicator when we see the next move...right now its anyones guess where it will go

Attached Image (click to enlarge)
Click to Enlarge Name: current.gif Size: 33 KB
Different opinions highly valued, ignorant to slander.
  • #40,262
  • Oct 20, 2008 8:36pm Oct 20, 2008 8:36pm
Quoting psiholog
...right now its anyones guess where it will go
uhmmm ... DOWN?
  • #40,263
  • Oct 20, 2008 8:41pm Oct 20, 2008 8:41pm
Based on the technicals (RSI and Moving Avg(. I see 75% possibity of an rising pair , based on fundementals I say up . & Based on intutions, I say F#$K this rollercoaster
I have not failed. I've just found 10,000 ways that won't work -
  • #40,264
  • Oct 20, 2008 9:01pm Oct 20, 2008 9:01pm
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Quoting psiholog
so yea...price action for the past 11 or 12 hours has been...reminiscent of what normal markets are like...periods of high inactivity followed by maybe one or two big moves for the day. price range has been contained within a 80pip range since the last move down with very visible breakout spots...1.3460 to the upside...1.3287 and below to the downside. we are also currently in a sideways wedge...why is it important?...because the price action gets narrower and narrower and a break of those walls will be a good indicator when we see the next move...right now its anyones guess where it will go
Attachment
Read somewhere from the news segment somebody argue EU is likely to rise this week... But the speech by Bernanke yesterday defy such move...
"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #40,265
  • Oct 20, 2008 9:01pm Oct 20, 2008 9:01pm
Someone contacted me on Skype yesterday. As it turns, he was short and I was long. I was long because on the daily chart which I trade, it seemed like a better idea than being short. The old saying applies; "It seemed like a good idea at the time".

That same person contacted me today to see what I was up to. By then, my stop loss got hit and I reversed my position. I'm now short. He said "Told you! You didn't listen to me".

This statement actually bothers me more than my loss because the "I told you so's" don't make anyone better traders. He's the same capable trader that he was last month as so am I.

Both of us are capable traders because our systems are different, our time frames are different and our entrance/exit strategies are different. Yet somehow, we manage to profit.

Many people find me on this thread. They may find my antics to be occasionally amusing and God forbid, I might say something that makes sense once in a blue moon. Some folks who realize that I've been here for more than a week are fixated on the idea that I'm some Oracle. Others believe I'm some doofus that occasionally lucks out on a trade every now and again.

I'm none of those things. I'm just a guy who's trading. Sometimes I win, sometimes I lose. But so long as the gains outweigh the losses and that I'm becoming a sharper, better trader, then I'm accomplishing my goal here and nothing else matters.

I had a loss today. I may have a loss tomorrow. But I believe in two things. I believe in discipline and I believe in my system. I don't have a great system. Some will argue that I don't even have a good system. But I've had the discipline to stick to this system and in the long term, it's served me well.

I am not an Oracle, I am not my post count, I am not my sense of humor and I am not my registration date. If I had a 1KT tag, I wouldn't be that either.

I'm Jay Walker.
Not all sins are created equal
  • #40,266
  • Oct 20, 2008 9:13pm Oct 20, 2008 9:13pm
Quoting Jay Walker
... I'm just a guy who's trading.
Told you so...
Seriously, excellent post.
FUBAR...
  • #40,267
  • Oct 20, 2008 9:23pm Oct 20, 2008 9:23pm
Quoting Jay Walker
Someone contacted me on Skype yesterday..

I'm Jay Walker.
Absolutely stupendous!
  • #40,268
  • Oct 20, 2008 9:23pm Oct 20, 2008 9:23pm
heres my short on AUD/USD from 7022, based off a 15min wedge formation.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.JPG Size: 307 KB
  • #40,269
  • Oct 20, 2008 9:24pm Oct 20, 2008 9:24pm
Quoting Jay Walker
Someone contacted me on Skype yesterday. As it turns, he was short and I was long. I was long because on the daily chart which I trade, it seemed like a better idea than being short. The old saying applies; \"It seemed like a good idea at the time\".

That same person contacted me today to see what I was up to. By then, my stop loss got hit and I reversed my position. I'm now short. He said \"Told you! You didn't listen to me\".

This statement actually bothers me more than my loss because the \"I told you so's\" don't make anyone better traders. He's the same capable trader that he was last month as so am I.

Both of us are capable traders because our systems are different, our time frames are different and our entrance/exit strategies are different. Yet somehow, we manage to profit.

Many people find me on this thread. They may find my antics to be occasionally amusing and God forbid, I might say something that makes sense once in a blue moon. Some folks who realize that I've been here for more than a week are fixated on the idea that I'm some Oracle. Others believe I'm some doofus that occasionally lucks out on a trade every now and again.

I'm none of those things. I'm just a guy who's trading. Sometimes I win, sometimes I lose. But so long as the gains outweigh the losses and that I'm becoming a sharper, better trader, then I'm accomplishing my goal here and nothing else matters.

I had a loss today. I may have a loss tomorrow. But I believe in two things. I believe in discipline and I believe in my system. I don't have a great system. Some will argue that I don't even have a good system. But I've had the discipline to stick to this system and in the long term, it's served me well.

I am not an Oracle, I am not my post count, I am not my sense of humor and I am not my registration date. If I had a 1KT tag, I wouldn't be that either.

I'm Jay Walker.
Quote of the day.

The discipline to stick to a system that he can win with.

One of the hallmarks of a successful trader.

There are hundreds of systems that work... but only a couple that will work for you.

Mike
  • #40,270
  • Oct 20, 2008 9:33pm Oct 20, 2008 9:33pm
Today I decided to trade outside my system... because I'm smarter than the market... -60 PIPS dumber apparently.

My biggest one day loss this year.

Every single time I trade outside my system... boink... the market kicks one ball right up to the back of my throat.... it will eventually come back down but the pain is there long enough that it won't happen for another year.
  • #40,271
  • Oct 20, 2008 9:39pm Oct 20, 2008 9:39pm
Hei there, can someone tell me about volume in MT. What is that mean for the number there. Is it 1 for 1 OP or 1 for 1 $ or what. Thanks for replying.
wanna be one of 10% traders
  • #40,272
  • Oct 20, 2008 9:48pm Oct 20, 2008 9:48pm
hey jay...i had a loss too...dont feel too bad many of us did
that enough endorphins

and guess what...im still long...im all for the dollar strength but considering recent fundamentals...a retrace to 1.38 or 1.4 still sounds more then fair...ill keep this mentality as long as it takes...today it feels like markets are getting back to normal..i hope...that will make it 10 times easier to trade no matter what direction no matter what strategy...to be seen

Edit: oh yea...all you traders who have survived for the past 3 or 4 months with minimal losses or above even....your chances to succeed in currency trading have massively increased...this is truly the worst environment that ever existed...even in my short experience and naive mind
Different opinions highly valued, ignorant to slander.
  • #40,273
  • Oct 20, 2008 9:51pm Oct 20, 2008 9:51pm
Quoting psiholog
hey jay...i had a loss too...dont feel too bad many of us did
that enough endorphins

and guess what...im still long...im all for the dollar strength but considering recent fundamentals...a retrace to 1.38 or 1.4 still sounds more then fair...ill keep this mentality as long as it takes...today it feels like markets are getting back to normal..i hope...that will make it 10 times easier to trade no matter what direction no matter what strategy...to be seen

Edit: oh yea...all you traders who have survived for the past 3 or 4 months with minimal losses or above even....your chances to succeed in currency trading have massively increased...this is truly the worst environment that ever existed...even in my short experience and naive mind
I think 1.32 before it does that. Does it make any sense to you?
Not all sins are created equal
  • #40,274
  • Oct 20, 2008 9:57pm Oct 20, 2008 9:57pm
Quoting vdeluca
Pretty shitty 100 pip profit vanished on Tuesday. Re-entered long; up 75 pips -- that vanished as well. Then entered short @ 1914. Stopped out @1944 for another 30 pip hit. I cannot afford to keep allowing profitable trades turn into losses, waiting for the 150 pip target according to the 5MFX system. From now on I am going to have to start taking profits whenever I have them.
Things as they are, it sounds wise to take profits as you have them, but I doubt you can do it all the time, and remember, there is always the risk of losing, that's why it is profitable.
  • #40,275
  • Oct 20, 2008 9:58pm Oct 20, 2008 9:58pm
Who knows... but...

I'm guessing we see a move to the pp which also happens to be near the 38.2 of this last move down.

If I can't make it to the pp during the EURO session... look out below.

m
  • #40,276
  • Oct 20, 2008 10:02pm Oct 20, 2008 10:02pm
Quoting Jay Walker
I think 1.32 before it does that. Does it make any sense to you?
anything makes sense right now...the eur/usd did not follow any rules yesterday..at all..it all seemed like a take profit time for the big guys..covering their shorts...and considering 1.38 and 1.4 are so far away...one more push down makes all the sense in the world...still...to be seen...our individual perceptions is what makes us unique traders even if we follow the same charts and price action
Different opinions highly valued, ignorant to slander.
  • #40,277
  • Oct 20, 2008 10:09pm Oct 20, 2008 10:09pm
Quoting psiholog
...
Edit: oh yea...all you traders who have survived for the past 3 or 4 months with minimal losses or above even....your chances to succeed in currency trading have massively increased...this is truly the worst environment that ever existed...even in my short experience and naive mind
That makes me feel better. I have only been trading live for 3 weeks and although I am running a small gain, it would not be enough - other than to be a satisfying hobby. I know I will get better but it is good to hear I have been making it, somewhat profitably, through trying times.
  • #40,278
  • Oct 20, 2008 10:10pm Oct 20, 2008 10:10pm
Quoting psiholog
anything makes sense right now...the eur/usd did not follow any rules yesterday..at all..it all seemed like a take profit time for the big guys..covering their shorts...and considering 1.38 and 1.4 are so far away...one more push down makes all the sense in the world...still...to be seen...our individual perceptions is what makes us unique traders even if we follow the same charts and price action
Hi,

It sounds a bit absurd to me but i notice that every time you post, EU went either up or down. Just like what we are looking at EU now. ha..
  • #40,279
  • Oct 20, 2008 10:15pm Oct 20, 2008 10:15pm
Quoting allangenex
Hi,

It sounds a bit absurd to me but i notice that every time you post, EU went either up or down. Just like what we are looking at EU now. ha..
i dont get it..whats absurd?
Different opinions highly valued, ignorant to slander.
  • #40,280
  • Oct 20, 2008 10:15pm Oct 20, 2008 10:15pm
Quoting allangenex
Hi,

It sounds a bit absurd to me but i notice that every time you post, EU went either up or down. Just like what we are looking at EU now. ha..
So market fluctuations are directly correlated to Psiholog's activities?

I think you're on to something here, it's the Psi index.

He has a beer, his spirits are getting high. Go long.

He goes for a leak, that beer is going down the drain. Go short.
Not all sins are created equal
406 traders viewing now