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  • #84,401
  • Apr 9, 2009 2:50am Apr 9, 2009 2:50am
3360s will be the key for TP if there is long opportunity. but I probably bail out @ 50s just to get maximum possible profit. Right now going to see how it plays the 3270-80s. area
  • #84,402
  • Apr 9, 2009 2:51am Apr 9, 2009 2:51am
Anyone monitoring the THV system, I'm anticipating a reversal to the upside fairly soon (10 mins <). Trix (fast) has passed bottom level, and Trix trend is plateauing.
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  • #84,403
  • Apr 9, 2009 2:54am Apr 9, 2009 2:54am
Quoting rainingpips
The main reason I ask is because of the disproportionate number of people that simply view this thread, and don't contribute. I wonder if many of those in the peanut gallery, especially the guests, are here merely to mindlessly snag "trade ideas" and act upon them without any real analysis of the material against their own system or method.
from my experience there are 3 kinds of traders here

1)the seniors who are usually arrogant and cocky and tend to make fun of the new traders or those of different vision (like bemac for having insulted me in the past) but have made a living off forex for quite some time. while they dont usually share their skill...they are quick to bash others apparently for "fun".

2)certain seniors who love to share their knowledge (i dont think i qualify in this group just yet as im only 22 and will need at least 5 more years of market experience to call myself "senior"). they are ak4x, jaywalker, suntrader, cobraforex, doblece, traderathome and a few others (sadly most of them dont post here anymore)

3)the majority that you mention...guests. now who are guests? guests have two groups in themselves, one is the absolute begginer. There are more "new" traders who come to forums such as this one seeking answers then you would think. I too came here seeking knowledge about fundies, it just so happened that my strategy would evolve along the way given observations by others. the second group is the group that technically i fit better into ...the starting traders who are trying to make a future off forex but still have a lot to learn therefore they keep quiet and observe rather then post. I clearly am an exception..must be my youth
Different opinions highly valued, ignorant to slander.
  • #84,404
  • Apr 9, 2009 2:58am Apr 9, 2009 2:58am
Quoting psiholog
from my experience there are 3 kinds of traders here

1)the seniors who are usually arrogant and cocky and tend to make fun of the new traders or those of different vision (like bemac for having insulted me in the past) but have made a living off forex for quite some time. while they dont usually share their skill...they are quick to bash others apparently for "fun".

2)certain seniors who love to share their knowledge (i dont think i qualify in this group just yet as im only 22 and will need at least 5 more years of market experience to call...
haha I'm 22 as well, I guess everyone here is either around our age or older (40+). I don't mean to bash guests, but anyone (especially those just starting out) would be wise not to arbitrarily enter into a demo, real trade without understanding what has been posted. It would be like going out to fish with all this gear, and then not knowing how to use it when you get to the "good spot"
  • #84,405
  • Apr 9, 2009 3:00am Apr 9, 2009 3:00am
I hope everyone enjoyed that 20 pip freebie I just gave them. Anticipate another 10-15 pips and exit BUY order, banking those pips.
  • #84,406
  • Apr 9, 2009 3:02am Apr 9, 2009 3:02am
... at 1.3315.

Anyone else consider going long here?
Good Trading. (keep it simple).
  • #84,407
  • Apr 9, 2009 3:03am Apr 9, 2009 3:03am
Quoting rainingpips
haha I'm 22 as well, I guess everyone here is either around our age or older (40+). I don't mean to bash guests, but anyone (especially those just starting out) would be wise not to arbitrarily enter into a demo, real trade without understanding what has been posted. It would be like going out to fish with all this gear, and then not knowing how to use it when you get to the "good spot"
but that is the problem ...there is just too much gear to fish with! I still dont think after all this time there is anyone who uses a similar strategy to mine (maybe magictrader). Ak uses pivots. Jaywalker trades long term more fundies oriented rather then technicals with his daily moving average...cobra the king of scalp based on set conditions...derek with his wave strategy...and many many more.

the hardest problem when a new trader comes on the scene is identifying who they are as a trader, what kind of trading system fits their personality best...and there is too much information here to figure that out easily...burning a first account or two is a must no matter what in the quest for that knowledge only
Different opinions highly valued, ignorant to slander.
  • #84,408
  • Apr 9, 2009 3:04am Apr 9, 2009 3:04am
Quoting rainingpips
The main reason I ask is because of the disproportionate number of people that simply view this thread, and don't contribute. I wonder if many of those in the peanut gallery, especially the guests, are here merely to mindlessly snag "trade ideas" and act upon them without any real analysis of the material against their own system or method.
I can speak from my experience as a new trader and I will admit that, yes, in the beggining it was very tempting to just come here, read a few posts from people who may or may not know what they are talking about and then enter a trade based on their opinions. Luckily, I have mostly overcome this initial phase and now I just try to get different ideas from people and approaches but always trying to maintain my own point of view. Similarly, I try to contribute with more meaningful analysis myself, since there is, indeed, a lot of noise here and sometimes it can do more harm than good to the less seasoned traders.
  • #84,409
  • Apr 9, 2009 3:11am Apr 9, 2009 3:11am
Quoting Jasper
... at 1.3315.

Anyone else consider going long here?
I'm long averaged in around 1.300, I didn't post my hourly chart, but we not only broke the hourly EMA, but tested the 240 (4hr) EMA, and the short term charts show PA moving back towards the 1hr EMA. I'm looking for a test of H4 (1.3339) in the next couple hours; I think we'll see a test of R2 if the uptrend continues. Someone posted a weekly chart yesterday showing a downward channel, with PA bouncing off the bottom line moving back to the upside.
  • #84,410
  • Apr 9, 2009 3:11am Apr 9, 2009 3:11am
Quoting rainingpips
haha I'm 22 as well, I guess everyone here is either around our age or older (40+). I don't mean to bash guests, but anyone (especially those just starting out) would be wise not to arbitrarily enter into a demo, real trade without understanding what has been posted. It would be like going out to fish with all this gear, and then not knowing how to use it when you get to the "good spot"
22 as well ..best age to make a fortune ..lol
  • #84,411
  • Apr 9, 2009 3:12am Apr 9, 2009 3:12am
For those 5 min chart traders ....
A downward trend channel has presented itself by presenting a "double-top" candles. I wouldn't place a SELL order just yet. Hang back and wait for a new downward trend comformation.
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  • #84,412
  • Apr 9, 2009 3:14am Apr 9, 2009 3:14am
Quoting Tenshi28
I can speak from my experience as a new trader and I will admit that, yes, in the beggining it was very tempting to just come here, read a few posts from people who may or may not know what they are talking about and then enter a trade based on their opinions. Luckily, I have mostly overcome this initial phase and now I just try to get different ideas from people and approaches but always trying to maintain my own point of view. Similarly, I try to contribute with more meaningful analysis myself, since there is, indeed, a lot of noise here and sometimes...
In the end, Trading is what works for you, wether it is E/Wave, Fibs, Pure price action etc...etc..

Once you find a method, then money management plays a very big role.
Good Trading. (keep it simple).
  • #84,413
  • Apr 9, 2009 3:16am Apr 9, 2009 3:16am
I have just commited myself to another long position (half a position) as i am still very confident in the inverted h&s. Worst case scenario...I get stopped out for zero profit. Best case scenario...I end up 150pips + for the day. A risk worth taking I must say as 1.3300 is to me becoming support. Now its a game of wait and see in that search for 1.3400

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Different opinions highly valued, ignorant to slander.
  • #84,414
  • Apr 9, 2009 3:21am Apr 9, 2009 3:21am
Quoting psiholog
the hardest problem when a new trader comes on the scene is identifying who they are as a trader, what kind of trading system fits their personality best...and there is too much information here to figure that out easily...burning a first account or two is a must no matter what in the quest for that knowledge only
I don't disagree with any of this conversation. There are 3 basic types of traders. Scalpers, position, and intraday. Once you find out who you are based upon personality then you know what to look for in your trading methodology. I am basically a position trader that scalps when I am bored and nothing is happening. I don't like to post charts because it takes time to convert, format, size, etc.

Newbies as we call them can make some of the strangest calls based upon nothing more than their feel good indicator and inexperience. A lot of their calls are based upon previously opened positions that are losing and they hope they are right when they say long or short so they don't lose points.

That is another point that should be made. Once you can view trading as points and not money...you have a winner. I keep stats based on points only. Doesn't matter if I trade for $50 or $5 - it is a point only. When someone asks how I did this week or month I tell them I am up or down points.

My opinion only.
  • #84,415
  • Apr 9, 2009 3:22am Apr 9, 2009 3:22am
I still going to see how it plays the 80s b4 making any decision.
  • #84,416
  • Apr 9, 2009 3:22am Apr 9, 2009 3:22am
Quoting Jasper
... at 1.3315.

Anyone else consider going long here?
...and the reasons?? There's a resistance around 1.3320. Why not save some pips before taking long position?
  • #84,417
  • Apr 9, 2009 3:30am Apr 9, 2009 3:30am
Quoting BillGates
...and the reasons?? There's a resistance around 1.3320. Why not save some pips before taking long position?
I took the position from a signal I got off 15 min bar closing at 0845 GMT(1.3314).
I normally take my entries from 5 min bars, but???

Presently it is not looking too healthy, but I will not consider voiding it until I get a close below 1.3282.
Good Trading. (keep it simple).
  • #84,418
  • Apr 9, 2009 3:32am Apr 9, 2009 3:32am
the upper 70s to 80s will ultimately decide to bull or delayed bull trend or bear totally. I am gonna watch very carefully on this.
  • #84,419
  • Apr 9, 2009 3:36am Apr 9, 2009 3:36am
Something everyone should keep in mind is that this is an extended holiday weekend. May play havoc on the currency market so if you are one who leaves positions open over the weekend - be careful.
  • #84,420
  • Apr 9, 2009 3:39am Apr 9, 2009 3:39am
Quoting dysan4x
Something everyone should keep in mind is that this is an extended holiday weekend. May play havoc on the currency market so if you are one who leaves positions open over the weekend - be careful.
It may be a good idea to treat today as a Friday. Which in my experience can be a s*d.
Good Trading. (keep it simple).
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