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  • #46,901
  • Nov 25, 2008 1:24am Nov 25, 2008 1:24am
Quoting psiholog
check out the doji on the hourly chart...ibfx has it as bear volume...fxpro (demo acc) as bull volume..trippy...in any case that 1.2855 is very interesting and how this current hourly candlestick closes in relation to it is quite important
Like a rollercoaster, down before going up again. That's the biggest reason why I trade on the daily. To avoid this kind of hourly noise.
Not all sins are created equal
  • #46,902
  • Nov 25, 2008 1:28am Nov 25, 2008 1:28am
Quoting Jay Walker
Like a rollercoaster, down before going up again. That's the biggest reason why I trade on the daily. To avoid this kind of hourly noise.
hi Jay,

how do you place your stops when you trade on the daily. I want to trade on the daily but i get sucked in on the hourly...guess im too impatient. Anyway, do you put your stop below the low of the previous candle on the hourly?
  • #46,903
  • Nov 25, 2008 1:30am Nov 25, 2008 1:30am
Quoting Jay Walker
Like a rollercoaster, down before going up again. That's the biggest reason why I trade on the daily. To avoid this kind of hourly noise.
i may start doing that as well. until recently...this kind of volatility was scalper paradise..lots of money to be made but now...the noise is just that...no words can be made out...no patterns can be noticed...no scalps can be attempted without knowing the win/loss ratio is terrible compared to even just 2 weeks ago...my trades are purely gut feeling off visible support/resistance lines and much more planned out...like that 1.2815...thats what im watching for carefully...to the upside...1.2905 is quite relevant (current 61.8% for move from 1.2960 to current low)...still....i wouldnt enter unless those values get broken and get retested to prove they are support or resistance and even then..god of pips where art thou haha
Different opinions highly valued, ignorant to slander.
  • #46,904
  • Nov 25, 2008 1:45am Nov 25, 2008 1:45am
Quoting jc trader
hi Jay,

how do you place your stops when you trade on the daily. I want to trade on the daily but i get sucked in on the hourly...guess im too impatient. Anyway, do you put your stop below the low of the previous candle on the hourly?
Hi JC

First, let it be known that I'm a lunatic and that what I'm doing is no indication of what one should do. In fact, the very opposite of that would be true. I'm doing things that way because I'm comfortable with it and it works for me.

Open a daily chart and open the Parabolic SAR. I use no Take Profit but have a stop loss which is currently sitting at 2414. Notice that it's by one of the Parabolic SAR dots.

Now that I'm in this trade, I will move my stop loss daily until such point that eventually, the trend will reverse and my stop loss will get hit. Sometimes it's at a profit, sometimes it's not.

Right now, I risk to lose about 550 pips if I get stopped. Sounds high I know so don't over leverage yourself if you do that.

Alternatively, I could set my stop loss at the low of the previous day but them I'm more prone to getting cut out of a trade before it matures.

I also keep an eye on MACD and slow stochastic as indicators. It also helps to look at the smaller time frames as they give a thumb gauge on what may be happening in the shorter term.

While it probably doesn't, I hope this kinda sorta makes sense to you. PM me if I can help you any further.
Not all sins are created equal
  • #46,905
  • Nov 25, 2008 1:52am Nov 25, 2008 1:52am
http://i35.tinypic.com/2hmej9f.jpg

This is the 1 hr chart. See the Parabolic SAR dots. If one traded this from the time the started up, profits would have been made but you would have been stopped right where the red dots are. Then you would get P.O.'d because the trend seemingly is up again. Many would get back in it.

On a daily chart, you pay the spread once instead of paying it over and over (that cost does add up folks). Also, you avoid this kind of noise. That's why I like it so much.
Not all sins are created equal
  • #46,906
  • Nov 25, 2008 1:53am Nov 25, 2008 1:53am
long again 2888
  • #46,907
  • Nov 25, 2008 1:53am Nov 25, 2008 1:53am
Quoting Jay Walker
Hi JC

First, let it be known that I'm a lunatic and that what I'm doing is no indication of what one should do....

Thanks Jay..i'll PM you if i have any questions. thanks again for your help
  • #46,908
  • Nov 25, 2008 2:04am Nov 25, 2008 2:04am
Quoting Algirdas
I looking for some Swing Short, and technically very good price::

EUR/USD Long near 1.2817
GBP/USD Long near 1.5053
AUD/USD Long near 0.6413
NZD/USD Long near 0.5397

USD/CAD Sell near 1.2447
USD/CHF Sell near 1.2065
USD/JPY Buy near 96.23

Hold EUR/JPY GBP/JPY EUR/CHF EUR/GBP Long
EUR/USD price came exact near Entry. Take 1/4 profit for 60 pips. Move Stops near Entry.
{Promotion Removed}
  • #46,909
  • Nov 25, 2008 2:26am Nov 25, 2008 2:26am
Now I see some possibility to reach "near":
EUR/USD 1.2753
GBP/USD 1.5003
AUD/USD 0.6377
NZD/USD 0.5353
USD/CAD 1.2507
USD/CHF 1.2099
USD/JPY 95.99
{Promotion Removed}
  • #46,910
  • Nov 25, 2008 2:36am Nov 25, 2008 2:36am
Quoting Algirdas
Now I see some possibility to reach "near":
EUR/USD 1.2753
GBP/USD 1.5003
AUD/USD 0.6377
NZD/USD 0.5353
USD/CAD 1.2507
USD/CHF 1.2099
USD/JPY 95.99
Algirdas,

I ask this only because my ability to go get some sleep depends on it. Are you saying that you think it's reached its top for now?

Nice call on the 2820 area earlier. Thanks.
Up or down, gimme a ticket
  • #46,911
  • Nov 25, 2008 2:42am Nov 25, 2008 2:42am
1 hour chart has the look of a run up that lost volume interest, and now that shorting looks in store, another pump "as it were" for a better position to short it.

30 minute chart shows the volume interest as it gets pumped towards previous high....a good range now to then for pouring on the shorts.

Just my opinion. I think this is going to roll over and dive......
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  • #46,912
  • Nov 25, 2008 2:54am Nov 25, 2008 2:54am
i couldnt refuse...i went short on that 61.8 %(1.2905) retracement current high to low (1.2960 to 1.2817)...candlestick patterns on 15min chart were a classic...5 straight bull ones in a tightly compacted range which usually precedes a large bear one followed by more bears at least to the bottom of the current range. If this does indeed dive as traderathome suggests...it should reach 1.2750 which is the lower wall of the current uptrend (algirdas may have said something about that value too). I will ride this short until 1.2815 at which point i take half the position and the rest...stop loss at entry...thats if we even get that low of course. If we do indeed reach 1.2750 i need to reevaluate whether the uptrend will get broken or a continuation up resumes...

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Different opinions highly valued, ignorant to slander.
  • #46,913
  • Nov 25, 2008 3:13am Nov 25, 2008 3:13am
hi traders


Alhamdlillah for such progress in DA market

i forecast the continuation of down trend for cable+euro
for the last past weeks and the trend already
make my total pips profits 3000 for euro+ 5000 for cable
and here is my charts describe my last calls and my methods in trading .
& i am still predict more bearish activity coming.

is too obvious that Usd strengthen against all the currencies .

and dont forget the fundamental aspect!!!!!
and to be clear to you
all the buyers and the sellers are here in those threads and you know the forex basic rule
only 20% win and the other 80% loss
so try to figure it out by your mind

if you find most posts talk about retrace that will may happen you will find the price is going down, and if you find most posts talk about the continuation of down trend you will find price is going up .
they call this move (news).

trade well.
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  • #46,914
  • Nov 25, 2008 5:26am Nov 25, 2008 5:26am
very nice range in the last hour...
  • #46,915
  • Nov 25, 2008 6:17am Nov 25, 2008 6:17am
my chart would indicate a probable short as well. price is at the top of my LR channel with no indication of any possible breakout. the thing that makes me a little nervous is that price has tested the daily pivot several times and bounced long. In addition, price of oil is creeping up a little and dollar index is creeping down.
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  • #46,916
  • Nov 25, 2008 6:33am Nov 25, 2008 6:33am
Quoting Tiger Hunter
hi traders


Alhamdlillah for such progress in DA market

i forecast the continuation of down trend for cable+euro
for the last past weeks and the trend already
make my total pips profits 3000 for euro+ 5000 for cable
and here is my charts describe my last calls and my methods in trading .
& i am still predict more bearish activity coming.

is too obvious that Usd strengthen against all the currencies .

and dont forget the fundamental aspect!!!!!
[b]and...
how r u brother this is imran . i am also a trader . was trading a 10 k account lost about 8500 out of the 10 k i got so i need ur help desperately plz if u can tell me and guide me through this very dark passage . plz i need some help dearly . i hope that u would help me . my e-mail address is [email protected] . hope to hear from u soon . thanx.
trying to learn and acquire knowledge
  • #46,917
  • Nov 25, 2008 6:36am Nov 25, 2008 6:36am
I'll try to go long at 1.2760 if it reaches it
  • #46,918
  • Nov 25, 2008 6:38am Nov 25, 2008 6:38am
Quoting Gandolf
my chart would indicate a probable short as well. price is at the top of my LR channel with no indication of any possible breakout. the thing that makes me a little nervous is that price has tested the daily pivot several times and bounced long. In addition, price of oil is creeping up a little and dollar index is creeping down.
fancy channel ... is it an indicator? or manual drawing ?
  • #46,919
  • Nov 25, 2008 7:43am Nov 25, 2008 7:43am
wtf...I keep adding longs..and it's working! (stops in, some profit taken)
  • #46,920
  • Nov 25, 2008 7:43am Nov 25, 2008 7:43am
i just woke up...thank god i was flat..can anyone tell me what happened just now?..the reason for 200pips up almost like it was nothing?
Different opinions highly valued, ignorant to slander.
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