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  • #40,761
  • Oct 22, 2008 3:52am Oct 22, 2008 3:52am
well, glad I stayed up a bit as my M1 strat has been Killin the EU for the last 2 hours.......

We may see 3184 area if we get above the 1H gann.

I'll have to see what she's at in the am, but that's the area I'd be looking at.

Unless something cooky happens with the ECB rate cut that just came through.

See you later tomorrow.
Shooting 'splits' tomorrow, so will have some time in the am to scalp some more.

2am.....good nite all
  • #40,762
  • Oct 22, 2008 4:00am Oct 22, 2008 4:00am
Quoting misterboy
If you try to predict, its obvious you will be frustrated. I am a noob too but I dont predict. I made 200 pips last week on my demo, and already about 100+ this week. Try using a different strategy than predicting
Then what do you do, enter randomly? If you buy, you are predicting prices will rise. Let's not beat around the bush here folks, we are gambling. Just because we have our methods for doing so does not mean that every trade is not a calculated gamble.
  • #40,763
  • Oct 22, 2008 4:00am Oct 22, 2008 4:00am
Quoting vulture
Guys, look after yourself as they are all out to get whatever you own.

02:52 USD: Huge Emerging Market Losses Affecting All FX Pairings Sydney, October 22: Analysts are saying that some of the big moves in the major currency pairings of late have been sparked by massive dislocations caused by losses in emerging market equities and currencies. The WSJ is reporting today that throughout Latin America, companies are telling investors they have lost millions, in some cases billions, of dollars due to foreign-exchange gambles that, in some cases, had little to do with their core businesses. The WSJ goes on to say: \"Losses from bad-currency bets are ricocheting through the world\"s major developing economies, including India and Korea, but for now such losses appear to be most widespread in Brazil and Mexico.
Argentina is facing a fiscal crisis so bad that the government announced that they are seeking to nationalize nearly 30 BLN in private pension funds, which critics say is a move to shore up government finances to try to head off a fiscal crisis in 2009.
Analysts say that fund managers around the world are lifting positions that they have been holding for years and all forms of derivative positions are being forced to close out, including FX options. Both real money and hedge funds are getting out of all forms of risk and the subsequent repatriation and liquidation of funding flows are underpinning the USD. JPY and CHF at the expense of the GBP, EUR, AUD and emerging markets currencies. [email protected] )
Sounds like a reasonable explanation for what happenend the past two days... but, to be positive, at some point they must be done with the selling and liquidating, donīt ya think?....the rest of the world is probably already out of whatever risk, one way or the other, as the stockmarkets have shown... and a drop about 30 cent on many currency-pairs in about 3 month tells the same if you ask me.

The only time I have seen such a drop was in 1992 on GBP/USD on the charts ( havenīt checked others that far back yet )....and that was probably due to the Falkland crisis?? Not sure whether it was then....or was it Irak?? Something like this...or was there something else major going on in the world? I wasnīt old enough yet back then to care for such things
  • #40,764
  • Oct 22, 2008 4:13am Oct 22, 2008 4:13am
Quoting fontu
Though all my shorts cashed with the start of iv wave & still I see 100pips up & about 300 pips down possibilities .


what do you say ?

me too need it die as troubled with some longs before , closed bit by bit parially but still some left.
Just thinking about my strategy> if corrective wave iv reach 1.3012 ( it will) then kill the longs with over 400pips loss ( bad trades not closed with 100pips before due bad habbit) & then short for 300pips again
or keep it untill it reaches bottom & perhaps do 400pips correction again .
perhaps they all the same & hence better clean the ac first ?
fontu
Just like you, I still have some longs and because they are just micros ( I am a beginner, still after 5 months ) and I am hanging on to them...it depends on your account whether to keep 'em ...I can afford it...and because I have faith in the euro, I just refuse to give them my money
But on the other hand, once I am out of these positions again, I wonīt do so in the future. These are my "learning experiences" and interesting enough I got right in the middle of a world crisis when I started trading in April...is there a better time to learn everything in a short amount of time? I donīt think so.
I have found a great robot to work with. But, although the developers say, thereīs no need for a SL, I would never recommend to trade this thing without. It never looses as long as you have enough money in your account. But due to its hedging nature, it can kill you easily, if the markets doesnīt come back for at least 30 Pips at the right time, which we have seen, can happen easily....
I have it running now on EUR/GBP because of the low volatily of this pair and its doing fine. Before I was almost wiped out when the GBP/USD started falling like a dead goose...
So hopefully I will "survive" this crazy time and get out of my positions smoothly ( or maybe I can learn, how to hedge them and get out that way ) and then trade according to all I have learned so far ( of course- the learning continues )
  • #40,765
  • Edited 4:34am Oct 22, 2008 4:15am | Edited 4:34am
Quoting Zappa
Let's not beat around the bush here folks, we are gambling. Just because we have our methods for doing so does not mean that every trade is not a calculated gamble.
Uhhh.. like driving down the freeway, getting on an airplane, or going out to eat and betting the cook washed his hands? So your point is what?

W/o debating your word choice, if my gambling has been consistently successful more than not, that works for me, and it also beats working for the man...
FUBAR...
  • #40,766
  • Oct 22, 2008 5:01am Oct 22, 2008 5:01am
added on limit at 1.2790 while I slept. Currently flat.

man what a crazy chart.

good luck, getting coffee...be back later...
  • #40,767
  • Oct 22, 2008 5:10am Oct 22, 2008 5:10am
everything in life has risk and reward.
  • #40,768
  • Oct 22, 2008 5:15am Oct 22, 2008 5:15am
Quoting 13thheaven
maybe u should working on some demo first before investing your real money to this game...
hope u can be a successful trader one day...


yes u can do trading rather than gambling stay in ur limits trade long dont do very short trades like an hour or fifteen minutes at least trade for a day plan ur trades like that . just watch the market watch the price action and that is all. dont need to just give up man ok .


i am also here for trade not gambling cause u know it is prohibited by MIGHTY ALLAH SUBHAAN WA TAALAH . so try and try unless u r successful try doin some trades like that over a demo account and then u can do trades with the live account i have lost money to learn this all . wanted to share it with u . for ur welfare and help.

best of luck to all the fellow traders.
trying to learn and acquire knowledge
  • #40,769
  • Oct 22, 2008 5:24am Oct 22, 2008 5:24am
Quoting TIckerShuffl
added on limit at 1.2790 while I slept. Currently flat.

man what a crazy chart.

good luck, getting coffee...be back later...
We can go 1.31 area before new drops, but better not to bet to see that level soon.
At least 1.3020 it is a possibility, but the Trend is Hard to beat now.
Wait below 1.2500 to do that!

Take care!
  • #40,770
  • Oct 22, 2008 5:29am Oct 22, 2008 5:29am
Quoting ak4x
Uhhh.. like driving down the freeway, getting on an airplane, or going out to eat and betting the cook washed his hands? So your point is what?

W/o debating your word choice, if my gambling has been consistently successful more than not, that works for me, and it also beats working for the man...
My point is that we are always predicting. Always. I constantly hear people stating, "I don't predict the market, bla bla bla..". They are incorrect. Every trade is a bet, and every bet is a prediction. Every trade involves risk/reward, hence a gamble. Did you not read what I was responding to? This is not hard to comprehend.
  • #40,771
  • Oct 22, 2008 5:39am Oct 22, 2008 5:39am
Quoting Zappa
My point is that we are always predicting. Always. I constantly hear people stating, \"I don't predict the market, bla bla bla..\". They are incorrect. Every trade is a bet, and every bet is a prediction. Every trade involves risk/reward, hence a gamble. Did you not read what I was responding to? This is not hard to comprehend.
whatever. you can be right if that makes you feel better
FUBAR...
  • #40,772
  • Oct 22, 2008 5:45am Oct 22, 2008 5:45am
Quoting BoredToLoose
We can go 1.31 area before new drops, but better not to bet to see that level soon.
At least 1.3020 it is a possibility, but the Trend is Hard to beat now.
Wait below 1.2500 to do that!

Take care!
Yeah, I should have just waitedf or 1.28 to start my posi, now i am averaged in 100 pips higher than I would like to be. I am looking for a nice bounce. This panic buying of USD is a little counter productive to foreign investors to buy our bonds, even with their inflated yields.

Two camps in EURUSD, some say 1.35-1.40 range, others say 1.22-1.30 range...I would like to see 1.35 +
  • #40,773
  • Oct 22, 2008 5:47am Oct 22, 2008 5:47am
i just hope that this bearish engulfing bar on the hourly holds
  • #40,774
  • Oct 22, 2008 5:49am Oct 22, 2008 5:49am
Quoting TIckerShuffl
Yeah, I should have just waitedf or 1.28 to start my posi, now i am averaged in 100 pips higher than I would like to be. I am looking for a nice bounce. This panic buying of USD is a little counter productive to foreign investors to buy our bonds, even with their inflated yields.

Two camps in EURUSD, some say 1.35-1.40 range, others say 1.22-1.30 range...I would like to see 1.35 +
1.2341 to 1.3687!
  • #40,775
  • Oct 22, 2008 5:57am Oct 22, 2008 5:57am
Quoting BoredToLoose
1.2341 to 1.3687!
hehe, secret safe with me
  • #40,776
  • Oct 22, 2008 6:06am Oct 22, 2008 6:06am
If you're fib fans, you may be keen to believe a retracement is inbound. I'm going to stay on the sidelines for this one. But gonna try it on demo.
  • #40,777
  • Oct 22, 2008 6:06am Oct 22, 2008 6:06am
he was very bearish on EurUsd currency pair.

When newscasters are calling for further depreciation = Bottom in ?
  • #40,778
  • Oct 22, 2008 6:11am Oct 22, 2008 6:11am
Mannn, I log in to catch up on our thread's goings-on and all I find are pages and pages filled with "noise".....spent most of time filtering.

What is this?!....an emotionally-distressed, addiction support group or a trader's forum/thread to discuss trading this pair?!

Let's get the wheels back on the tracks people....please.

Trade well to all
  • #40,779
  • Oct 22, 2008 6:28am Oct 22, 2008 6:28am
Quoting efgsrl
Mannn, I log in to catch up on our thread's goings-on and all I find are pages and pages filled with \"noise\".....spent most of time filtering.

What is this?!....an emotionally-distressed, addiction support group or a trader's forum/thread to discuss trading this pair?!

Let's get the wheels back on the tracks people....please.

Trade well to all
Projection? Just click to the end if you don't want to read it. What could anyone possible say on here that would really matter that much? hehe
  • #40,780
  • Oct 22, 2008 6:43am Oct 22, 2008 6:43am
that would make my day
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