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EURUSD

  • #65,501
  • Feb 16, 2009 5:28pm Feb 16, 2009 5:28pm
Quoting gatorinla
drop the knife... just asking
Meaning euro go down and get it over with?
  • #65,502
  • Feb 16, 2009 5:49pm Feb 16, 2009 5:49pm
In an effort to cause another discussion on this critical phase of being successfull I submit without predjudice...

Quoting Tmac
Aspiring traders often tell us that they have difficulty staying with their trading plan. There are many possible reasons this happens. Usually it's because of not having a clearly defined plan....
When a trading plan is not clearly defined, it is hard to follow and easy to abandon
Which should, at the Very Least, contain The # of Lots to Trade.

Quoting Tmac
When you trade in an ad hoc way,...
What makes you think You will Exit any differently?


Quoting Tmac
Disciplined people are rule followers, and research studies have shown that rule followers prefer certainty.
URL Backup of this statement would be appreciated.

Quoting Tmac
... two and two are just as easily twenty-two as they are four.
do you mind if I use this line occasionally?
Quoting Tmac
"These kinds of people truly don't care what happens." ...This kind of thinking is useful for a trader.
Believe me. We Care. We Review Exit Points Waaayyy more Than Entry Points.


Quoting Tmac
Most traders, however, have trouble approaching trading with a carefree attitude. For example, they may see the price rise initially. But then it stalls before reaching the predefined exit point. They instinctively think, "How much longer can it go up? They are skeptical. They think to themselves, "There aren't enough buyers. I can't wait. I've got to sell and lock in my profits right now."
Carefull here. You are lifting your skirt.


Quoting Tmac
When they get to that point, they start thinking, "Don't be greedy. How can it be a bad thing to get out early and get a profit?" At that point, it's hard to stay in the trade. But it is vital for economic success to stick with the plan. Unless the plan calls for early exit, stay in!
Huge! Absoflogginlutely Huge.This is the Hurdle that will Define your future as a Trader. Asterisk Ctrl B Make Sure that the Notice This....

Quoting Tmac
How do you quiet the voice of caution? It's difficult. Some traders have suggested trading while tired or dazed, so that only a fixed amount of energy is left to both focus on the cautious voice and trading, so in the end you just automatically trade the plan. The idea is to lower your inhibitions so that you just follow the plan without thinking. It's the right idea, but it is hard to implement.
I do not require stimulus to Trade. I Trade.

Quoting Tmac
Winning traders view trading as a fun business,
Dump the "Fun" bit & you are so much closer.

[quote=Tmac;2542951...The learning experience is more important than the outcome. Winning traders are not only players of the "game," but observers. They know how to look at the market action, even while in it, objectively, and it is more important to see what happens and gain experience than merely win.[/quote] Who, I wonder, told you that?

Quoting Tmac
If you can cultivate such an attitude, you'll be able to follow your trading plan, and silence the voice of self-doubt that often thwarts your trading efforts.
OK, OK,
Sounds Like A Slam But Please Don't Miss the reason for this Post.

I have No Idea how profficient TMac is but I do understand he is Trading Other than Impulse.
  • #65,503
  • Feb 16, 2009 5:51pm Feb 16, 2009 5:51pm
im long.. set my entry friday..long before weekend gap...long 2745... but im not looking at the daily or shorter like most..if you draw a trend line from nov-jan/febs lows you may c what im looking at.. i think we are at a pivotal area on chart..im a dollar bull but cant deny what i see..could go either way...the price right now is exactly where my chart says it should be..thow the dice.. ive been hearing up and down by good traders..the only way your not gonna lose money is by not trading.. the only way your not gonna make any money is not trading.
those who can, do. those who cant, talk about those who can
  • #65,504
  • Feb 16, 2009 6:02pm Feb 16, 2009 6:02pm
Japan's [tertiary activity index], which gauges conditions in the services sector excluding manufacturing, tumbled by a further 1.6% over Dec. The fall was broadly in line with expectations on a 1.5% easing, and followed a revised 1.1% fall in the month prior. Industries that contributed to the decrease included wholesale and retail trade, compound services, finance and insurance, info and communications, and transport. Dec's fall is not surprising; with demand for services pulling back as the deepening recession and a subsequent onslaught of job cuts set in, sapping consumer spending.

US] Stock futures are trading over 1% lower this mrg, setting up a weak start for Asia/Pac bourses. Oil has also slid under $37/brl in early after hours trade; with general sentiment remaining risk averse amidst persistent fears over Eastern Europe's financial sector, last nights rating downgrades at UK banks and ongoing jitters Ireland may default on its debt. The outlook on Japan is also turning more bleak by the day; with the shakey state of its Government not helping a double digit contraction in growth. [NIKKEI] futures are already pointing to a move lower in the absence of Wall Street, which should also keep Yen crosses under pressure. 23:37 GMT - The [AUD/NZD] kept to familiar ranges yest as it traded between a low of 1.2460 to a high of 1.2575 before opening close to yest opening levels around 1.2545. Both the antipodeans are suffering from the global economic slowdown but with China's demand for base metals starting to pick up favouring the AUD, the pair's upside looks more likely. Also supporting the bullish call for the pair is the likelihood of narrowing interest rate differentials between the pair as the RBNZ is likely to maintain its aggressive easing policy in the face of a rapidly slowing NZ economy while the Aust economy looks to be in much better shape thus requiring less aggressive cuts by the RBA. The RBA Minutes due at 0.0030 GMT will give market some clues as to the central bank's future intentions. Buying orders at 1.2480 by a German will provide support and selling orders at 1.2590 by a local will keep the range this session.
those who can, do. those who cant, talk about those who can
  • #65,505
  • Feb 16, 2009 6:05pm Feb 16, 2009 6:05pm
OK;
Filled the Gap;
Got a Horiz Channel going on the 15 Min.
16, 32 & 96 SMA are looking south.

Wait:
Altered Stohs are turning to Point North.

POI: {Points Of Intrest}
1.2779
1.2789.
  • #65,506
  • Feb 16, 2009 6:15pm Feb 16, 2009 6:15pm
[AUST AHEAD] Minutes of RBA's recent Feb meeting will be eyed closely for policy leads after the Board slashed rates by a further 1.00% to 3.25%; resulting in a cumulative 4% of easings since last Sept. Whilst further easing continues to be on board, the CB's follow up statement failed to clarify the extent of its easing trough and or whether a pause could be on board following the substantial amount of fiscal and monetary stimulus currently in the pipeline. Barring no breakdown, we suspect RBA will adopt a much milder easing cycle going forward; with markets currently pricing in a further 50bps reduction in March and a trough of ard 2.50% by mid year. Due 00.30GMT.
those who can, do. those who cant, talk about those who can
  • #65,507
  • Feb 16, 2009 6:15pm Feb 16, 2009 6:15pm
LONG OR SHORT?
  • #65,508
  • Feb 16, 2009 6:18pm Feb 16, 2009 6:18pm
[quote=mikjurado;2543230]LONG OR SHORT?[/quotE
do some charting watch some news flip a coin and make your own decision
  • #65,509
  • Feb 16, 2009 6:25pm Feb 16, 2009 6:25pm
I have a short 1.2756
  • #65,510
  • Feb 16, 2009 6:26pm Feb 16, 2009 6:26pm
Hello people!

Very slow day today movement wise. How's everybody holding up?
Not all sins are created equal
  • #65,511
  • Feb 16, 2009 6:34pm Feb 16, 2009 6:34pm
Long after the big drop off lookin for a lil re-trace
  • #65,512
  • Feb 16, 2009 6:37pm Feb 16, 2009 6:37pm
Quoting Jay Walker
Hello people!

Very slow day today movement wise. How's everybody holding up?
Getting back into the game after a losing streak so
it isn't so much that I made alot of pips it's more on that I didn't lose.
  • #65,513
  • Feb 16, 2009 6:38pm Feb 16, 2009 6:38pm
I'm waiting for a long at 1.2725 shall it ever come around....

Tomorrow we should see a rather healthy rally. I got in last night at 1.2748 and ran her up to 1.28xx and called her a day. It was an incredibly boring day that's for sure.
  • #65,514
  • Feb 16, 2009 6:40pm Feb 16, 2009 6:40pm
those Asians..... always selling euros.... damn. lol
  • #65,515
  • Feb 16, 2009 6:42pm Feb 16, 2009 6:42pm
Quoting emda
those Asians..... always selling euros.... damn. lol

More chances to add up some more longs, yes?!

I'm still within the 3% risk, the other long is in since yesterday @1.2745 no risk in that one, will add some more.
Traders are smartasses
  • #65,516
  • Feb 16, 2009 6:42pm Feb 16, 2009 6:42pm
lots of conflicting opinions here right now, up-down, no-one seems to know for sure. In the last 24h I thinks I have read 4 or 5 reports that totaly conflict with each other.

I've been trying out the 5M Force System to see how that works, so far up +25 since last night but i missed a lot of trades.

Cheers
  • #65,517
  • Feb 16, 2009 6:43pm Feb 16, 2009 6:43pm
Quoting Byrd
I'm waiting for a long at 1.2725 shall it ever come around....

Tomorrow we should see a rather healthy rally. I got in last night at 1.2748 and ran her up to 1.28xx and called her a day. It was an incredibly boring day that's for sure.
Just reviewed a long entry at 1.3095 on the daily chart.
Not all sins are created equal
  • #65,518
  • Feb 16, 2009 6:53pm Feb 16, 2009 6:53pm
Quoting Jay Walker
Just reviewed a long entry at 1.3095 on the daily chart.

I'm sorry I don't follow. I take it you are going to wait for it to get there?
  • #65,519
  • Feb 16, 2009 6:54pm Feb 16, 2009 6:54pm
Quoting Byrd
I'm sorry I don't follow. Does that mean you are going to wait for it to get there?
Just follow my posts. It will make sense later. I'm out right now and reviewing my entry daily based on psar.
Not all sins are created equal
  • #65,520
  • Feb 16, 2009 7:09pm Feb 16, 2009 7:09pm
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