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  • #42,361
  • Oct 29, 2008 9:36am Oct 29, 2008 9:36am
Quoting Niandra_lade
As some of you know, I am a newbie who has been trading the EUR/USD the last few days and lost a lot of his live account.

So tonight I went back to my demo to start from scratch.


About 5 hours ago I noticed an ascending triangle formation on the 15 minute chart.

In the last 4 hours Ive made over 100 pips, total profit $1079.


Of course I am crying because its my demo account and have been trading live and losing money the last 2 weeks.


But feels good that I spotted an actual pattern that fomed and used it to my advantage.



Edit - got out too early on my last trade, and damn its shooting north
Real money is different . you may have a lot of stress with real money that dont let u to think freely
  • #42,362
  • Oct 29, 2008 9:41am Oct 29, 2008 9:41am
Quoting 13thheaven
is it wise to put a limit sell order on 1.3000?
it's next to the resistance @1.3006, and it's 223.6% of the fib on my chart...
sorry i cannot post my chart... my connection still have lots of problem...
thx
If you want to have an icecube's hope in hell of doing anything with Forex, you must have a reliable connection!

I would proceed with lots of caution on a sell order @ 1.3000
Not all sins are created equal
  • #42,363
  • Oct 29, 2008 9:43am Oct 29, 2008 9:43am
Quoting TIckerShuffl
hitting resistance on 60SMA on 4 hour
It's also 10 SMA on daily
  • #42,364
  • Oct 29, 2008 9:44am Oct 29, 2008 9:44am
Quoting Jay Walker
There is money in chaos indeed.

The more inefficient the market, the more profitable it is
Hey to you too Jay! I forgot to add this trading caveat... I do have my eye on the zoomed out EJ 4hr... middle size teaser short in on that one from retest of the 62ema... Same with GY, but that pair has me right now.

How's things your side of the lake? I always keep an eye out for you on Google Earth, but nothin yet... And hey.. update the blog why don't you? Tired of reading the same old. I'd think you'd have enough fresh material these days for something...
FUBAR...
  • #42,365
  • Oct 29, 2008 9:45am Oct 29, 2008 9:45am
Agree with you I blow up my live account 4 times but make huge profit with demo because keep on violate the money management
Quoting kamranfx
Real money is different . you may have a lot of stress with real money that dont let u to think freely
  • #42,366
  • Oct 29, 2008 9:47am Oct 29, 2008 9:47am
Quoting Venu fx
Hi
Mr. doblece

Will you please explain what is the parameters to beset in the metatrader, the indicaters you provided ?
Thanks in advance.
I just left them with the standard settings they come with... as I don't know exactly what this would change. Will experiment later on with that
  • #42,367
  • Oct 29, 2008 9:49am Oct 29, 2008 9:49am
Quoting kamranfx
Real money is different . you may have a lot of stress with real money that dont let u to think freely

Yeah I know man.


Seem to think much clearer when I am on the demo account.



With my own money, I freeze up and shit myself wondering what the hell the market will do. Not good.

I have also entered into some bad trades that I wish I could take back. But whats done is done, now I wil continue to learn and I will stick to the demo for a little while longer I think.
  • #42,368
  • Oct 29, 2008 9:49am Oct 29, 2008 9:49am
Quoting doblece
I just left them with the standard settings they come with... as I don't know exactly what this would change. Will experiment later on with that
Deja de postear y abre Skype
My English is Bad... Sorry Mi Español es Bueno
  • #42,369
  • Oct 29, 2008 9:52am Oct 29, 2008 9:52am
Quoting silverwhite1
Agree with you I blow up my live account 4 times but make huge profit with demo because keep on violate the money management
I have a different problem. I did OK on my demo but got alot better after time. On live account I have even been better. However, I am keeping my lot sizes so small that my account is growing painfully slow. I guess I have ultra-conservative money management, probably after reading all the horror stories. I guess it's a good thing - I've never ended a week with a balance lower than the prior week.
  • #42,370
  • Oct 29, 2008 9:53am Oct 29, 2008 9:53am
Quoting doblece
Maybe if I redraw myself the lines taking the following points (in H4):
1 = 1.38815 - 09.11 at 16:00 gmt+3 (fxpro Mt4)
2 = 1.48647 - 09.22 at 20:00
3 = 1.32579 - 10.10 at 20:00
4 = 1.37687 - 10.14 at 12:00

Lines 1-3 and 2-4 converge on 10.31 at about 20:00 giving an estimate price of 1.3705 (on the 1-4 line) which is also the zone where SMA200 is resting now (1.3740 presently)...
I see this more probable than 1.45xx anyway.
I would add that 38.2% retracement of downmove from 1.6037 to lower low of 1.2328 is around 1.3750...
  • #42,371
  • Oct 29, 2008 9:53am Oct 29, 2008 9:53am
Quoting ak4x
How's things your side of the lake? I always keep an eye out for you on Google Earth, but nothin yet... And hey.. update the blog why don't you? Tired of reading the same old. I'd think you'd have enough fresh material these days for something...
Everything is done underground so Google Earth won't do much good

I will update the blog shortly. It will be a rant of epic proportions
Not all sins are created equal
  • #42,372
  • Oct 29, 2008 9:57am Oct 29, 2008 9:57am
Quoting psiholog
there is only one reason for this whole rally in forex and the stock market. the anticipated rate cut tommorow. nothing has really changed from last week except that...you know the old saying \"buy the rumor sell the news\"...this is the most likely scenario here...but one can never rule out buy the rumor and the news...to be seen

i do anticipate things to calm down come november and this whole election bussiness is done with

Edit: also consider this latest news...japan is considering rate cut!!!!!!...now i know the world has gone insane..them changing spells trouble...especially for the dollar.

in any case price action is the only thing that matters and as price action dictates now...we break 1.2745 decisively ..we may well be on our way to 1.3000 again..
posted that some 8 hours ago. we reached 1.3 without breaking it. we will not see a break..why?...because the world is waiting for the news now...enough with buying the rumor...whats to follow will be determined then
Different opinions highly valued, ignorant to slander.
  • #42,373
  • Oct 29, 2008 9:57am Oct 29, 2008 9:57am
Quoting Niandra_lade
Yeah I know man.


Seem to think much clearer when I am on the demo account.



With my own money, I freeze up and shit myself wondering what the hell the market will do. Not good.

I have also entered into some bad trades that I wish I could take back. But whats done is done, now I wil continue to learn and I will stick to the demo for a little while longer I think.
Freeze up and $h!t yourself? Turdsicles?

Seriously, do what I did. Start with a small amount.

With proper Money Management, if every pip is only 10 cents, you might just save on your laundry bill
Not all sins are created equal
  • #42,374
  • Oct 29, 2008 10:01am Oct 29, 2008 10:01am
keep up the good works
Quoting TradeWell
I have a different problem. I did OK on my demo but got alot better after time. On live account I have even been better. However, I am keeping my lot sizes so small that my account is growing painfully slow. I guess I have ultra-conservative money management, probably after reading all the horror stories. I guess it's a good thing - I've never ended a week with a balance lower than the prior week.
  • #42,375
  • Oct 29, 2008 10:19am Oct 29, 2008 10:19am
my current chart analysis. midwall is debatable. fibs is based on the second double bottom to current high. retracement to the 23.6% is very possible. pivots are thanks to cobra.

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Different opinions highly valued, ignorant to slander.
  • #42,376
  • Oct 29, 2008 10:21am Oct 29, 2008 10:21am
Quoting Jay Walker
Everything is done underground so Google Earth won't do much good

I will update the blog shortly. It will be a rant of epic proportions
Yes... But I have the Paid version, it can see underground and is the same tech used in the airport scanners looking for bootleg Cross pens.

Good to hear about the blog then. Sounds like a potential screenplay there. I'm thinking either Charlton Heston or Leonardo da Crappio... PM me when you get it posted.

Ahh, my ej short looks like it might be on it's way... Taking a little off to pay for the SL and leaving it in place for now...

I did suck it up and put in a small GY entry after all... easier to add to it on the way down. That pair will make you after a while.
FUBAR...
  • #42,377
  • Oct 29, 2008 10:29am Oct 29, 2008 10:29am
Morning to all..anybody here looking to straddle Mr Ben? He move the market any tip?
"Simplicity is the ultimate sophistication" leonardo da vinci
  • #42,378
  • Oct 29, 2008 10:32am Oct 29, 2008 10:32am
Quoting vulture
anybody here looking to straddle Mr Ben?
I could have gone all day w/o that picture.
FUBAR...
  • #42,379
  • Oct 29, 2008 10:38am Oct 29, 2008 10:38am
Quoting ak4x
I could have gone all day w/o that picture.
Don't miss the new puppet, provided to you by the ECB and the Chinese Central Bank.

It's Goatse Bernanke

Sorry AK, I had to add to this
Not all sins are created equal
  • #42,380
  • Oct 29, 2008 10:38am Oct 29, 2008 10:38am
I have a question about today's Fed interest rate decision. I am not from US so I am not sure about the influence on EURUSD. What do you think?

The estimate is cut from 1.5 to 1% if I am not mistaken.. Does it mean that USD will fall down?
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