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  • #86,761
  • Apr 17, 2009 1:48pm Apr 17, 2009 1:48pm
Quoting Hasnaa
If U want to care about Monthly Chart , U'll C a strong short till 1.2065 !!! but till then we'll have much Up & Down movements !!!
Live at the Moment !!!

anyway...Good Luck !!!

Yes - I'm actually not sure why people that are already short are even on this board these days. They should be taking a vacation for at least a few weeks, letting their profits run...
  • #86,762
  • Edited 2:22pm Apr 17, 2009 1:50pm | Edited 2:22pm
the chart L is euro index chart R is usd... on the fib shown the euro has recently passed below the 50% mark.. the usd is sitting just below the 50% fib mark...this is part of the reason i am only 75% commited to the eu weakness...but 75 % for me is strong... once usd closes a day or 2 or wk above this i will be closer to 90% sure.. ill never be 100%....both charts show a upper trend... but the euro is on the lower trendline.. this may explain why its being held up and not just a straight line down...i also have shown this chart to show that trend has to been broken.. its not broken at this time... then again this isnt the eu alone.. so use your own judgement.. prove me wrong... i honestly like others point of view..this is part of the reason i was willing to eat crow and wishy washy last 2 days..i use some unshown indicators and they agree with what i said..to sum it up dollar looks bullish, but its not there yet..use your own system and see what you think..imfuo

also when most were bullish last month i could not get behind this (big W/cup and handle).. then it went above 3500 and i took my first long trade around 3550.just a scalp.. looouuuusser!..this was the same time japans exports were reported days before down 50%.i knew if japans exports were down then so would e-zone.. that was comfirmed today.... i could not get behind euro strength and shorted it... i did great cause that night it reversed and has gone down since.. well today e-zone reported exports down 25% ... the deficit in U.S. was also down but oil has gone up... so this will mean more dollars going toward oil percentage wise compared to beamers...any way just a thought.. since one once told in this same time period i knew nothing about economics..ill shut up now before they put me back in anger managment here..

have a good weekend happy pippin
those who can, do. those who cant, talk about those who can
  • #86,763
  • Apr 17, 2009 1:51pm Apr 17, 2009 1:51pm
Quoting dannies
thanks, but yet this is a heavy one to go that high, but lets see. i have a long, 3057, lets see where does that takes me to..
It corresponds nicely w/ these TL's. Notice also the overall uptrend on this chart.
Attached Image (click to enlarge)
Click to Enlarge Name: apr17c.jpg Size: 111 KB
  • #86,764
  • Apr 17, 2009 1:53pm Apr 17, 2009 1:53pm
Quoting F.x.
MM knows no account size
Not prepared to go to a Sub $1 per pip account, so yes it does.


Last weeks performance, 20 trades in total

Euro 7 trades so 35% -£57.22
GBPUSD 2 trades so 10% +£66.46 NICE got to focus more on GBPUSD!!
EurJpy 11 trades so 55% , +£41.59

Total profit £50.83 Getting there, delete the Euro trades and £107 hmmmm.


Guess that decided it, Euro is GONE BABY!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #86,765
  • Edited 1:54pm Apr 17, 2009 1:53pm | Edited 1:54pm
Quoting Turveyd
Just came to the conclusion Euro is the hardest Pair to Trade, back checked my account and although Euro only represents 40% of my trades it represents nearly all of my big losses.........
Turveyd, my friend. You are right. I also lost several grands on this pair, including a complete wipe off of my main account once. Then I met a seasoned trader, a very successful one and does nothing but trade. He is of the opinion that the trading Euro requires two elements 1) Account Capacity, and 2) Thinking longer term. He suggests: a) gradually build positions in this pair because it is very trendy. b) Enter very few trades in a year, and c) Be a vulture.
The Thief of Wall Street
  • #86,766
  • Apr 17, 2009 1:56pm Apr 17, 2009 1:56pm
The pattern is ready for a breakout to the top, as it looks like a bullish flag formation on the daily chart. Will be looking for long opps next week!
  • #86,767
  • Apr 17, 2009 1:58pm Apr 17, 2009 1:58pm
Quoting F.x.
It corresponds nicely w/ these TL's. Notice also the overall uptrend on this chart.
hmm, i see it now. also i found this on the daily, would this be a valid signal?

http://i678.photobucket.com/albums/v...rusd_daily.gif
  • #86,768
  • Apr 17, 2009 1:59pm Apr 17, 2009 1:59pm
Quoting Chicky
Turveyd, my friend. You are right. I also lost several grands on this pair, including a complete wipe off of my main account once. Then I met a seasoned trader, a very successful one and does nothing but trade. He is of the opinion that the trading Euro requires two elements 1) Account Capacity, and 2) Thinking longer term. He suggests: a) gradually build positions in this pair because it is very trendy. b) Enter very few trades in a year, and c) Be a vulture.

I like Trend ( When I'm trading smart ), my system is entirely trend based, intraday Trend I'll add.

Euro seems to be a lot more, stop start and reverse without warning, which puts me on the wrong side of the trade more, which is the bit I'm failing on ie getting out Quickly without emotion, so something that reverses on me less often is key!!

Surprised on the GBPUSD I nearly dumped that a few weeks ago, close call there
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #86,769
  • Apr 17, 2009 2:01pm Apr 17, 2009 2:01pm
[quote=Turveyd;2677026]Same MM, well read NONE I can't really apply MM to my account size!!

Poor people shouldn't go to a Casino!!

You should apply MM no matter if you have a 250 or 25000USD Account.

The difference is that with 250 you can only win around 1.5USD per day and with 25000 you can win around 150USD per day. SAFE MODE!!
  • #86,770
  • Apr 17, 2009 2:02pm Apr 17, 2009 2:02pm
Quoting gatorinla
the chart L is euro index chart R is usd... on the fib shown the euro has recently passed below the 50% mark.. the usd is sitting just below the 50% fib mark...this is part of the reason i am only 75% commited to the eu weakness...but 75 % for me is strong... once usd closes a day or 2 or wk above this i will be closer to 90% sure.. ill never be 100%....both charts show a upper trend... but the euro is on the lower trendline.. this may explain why its being held up and not just a straight line down...i also have shown this chart to show that trend...
sorry here is the chart
Attached Image (click to enlarge)
Click to Enlarge Name: dollar index.gif Size: 64 KB
those who can, do. those who cant, talk about those who can
  • #86,771
  • Apr 17, 2009 2:03pm Apr 17, 2009 2:03pm
Quoting dannies
hmm, i see it now. also i found this on the daily, would this be a valid signal?

http://i678.photobucket.com/albums/v...rusd_daily.gif
Looks like MackS10 is thinking the same thing. I didn't actually look at it like that, but I rarely think of things in terms of flags.

But sounds good to me... more verification of my trade
  • #86,772
  • Apr 17, 2009 2:07pm Apr 17, 2009 2:07pm
Quoting dannies
hmm, i see it now. also i found this on the daily, would this be a valid signal?
no

a valid signal for what?

in patterns you have to wait for confirmation break.
  • #86,773
  • Apr 17, 2009 2:09pm Apr 17, 2009 2:09pm
Quoting Turveyd
Just came to the conclusion Euro is the hardest Pair to Trade, back checked my account and although Euro only represents 40% of my trades it represents nearly all of my big losses.

Could be time to dump the euro

EURJPY is super smooth and much better IMHO for scalp based trend / momentum plays.
Next week the Euro/usd could work out well with your strategy and fail with Eur/jpy. Each pair will have its turn, the main thing is to be around for when your system starts working so you can profit. Simple is better, if your system didn't work then that's all it is, a loss. However if you can find a way to minimize your loss and maximize profit you could turn any strategy into a winning one.
Cheers.
  • #86,774
  • Edited 2:12pm Apr 17, 2009 2:11pm | Edited 2:12pm
Quoting Turveyd
I like Trend ( When I'm trading smart ), my system is entirely trend based, intraday Trend I'll add.

Euro seems to be a lot more, stop start and reverse without warning, .......
What trend? I spend hours and hours to identify a trend. Feel no fear in admitting that there is no way I could spot a trend - ever. That is why I switched to risk/reward ratio and MM. I don't have to bother about any trends - Trading has become simple, stress-free and rewarding.
The Thief of Wall Street
  • #86,775
  • Apr 17, 2009 2:11pm Apr 17, 2009 2:11pm
[quote=BoredToLoose;2677084]
Quoting Turveyd
Same MM, well read NONE I can't really apply MM to my account size!!

Poor people shouldn't go to a Casino!!

You should apply MM no matter if you have a 250 or 25000USD Account.

The difference is that with 250 you can only win around 1.5USD per day and with 25000 you can win around 150USD per day. SAFE MODE!!
SAFE isn't going to pay the bills though, never ever in a million life times so no point even trying there.

I run on the basis, if I keep the account funded to a low amount and I have a bad day, no biggy £100 more added and keep going, I haven't added in over 1 year so breaking even and improving
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #86,776
  • Apr 17, 2009 2:11pm Apr 17, 2009 2:11pm
Quoting emda
no

a valid signal for what?

in patterns you have to wait for confirmation break.
I disagree... it's definitely safer that way... but you miss out on a lot of pips. Wouldn't it be better to play a pattern before it fully forms, getting it at the best level? This would greatly increase your profits...

Not that I would recommend this all the time. But as part of your trading arsenal it can be a valid approach at certain times...
  • #86,777
  • Apr 17, 2009 2:12pm Apr 17, 2009 2:12pm
Quoting F.x.
Looks like MackS10 is thinking the same thing. I didn't actually look at it like that, but I rarely think of things in terms of flags.

But sounds good to me... more verification of my trade
Its not written in stone but it is a probability. As Emda has stated, best to wait for clear break of the pattern.
  • #86,778
  • Apr 17, 2009 2:14pm Apr 17, 2009 2:14pm
Quoting Turveyd

SAFE isn't going to pay the bills though

Neither will an empty account... just sayin...

You'd be surprised how much money you can make by placing smaller trades... the amount you actually keep in the end by doing that is astounding...

My returns at least doubled when I cut my standard position size by about 75%...
  • #86,779
  • Apr 17, 2009 2:16pm Apr 17, 2009 2:16pm
Quoting F.x.
I disagree... it's definitely safer that way... but you miss out on a lot of pips. Wouldn't it be better to play a pattern before it fully forms, getting it at the best level? This would greatly increase your profits...

Not that I would recommend this all the time. But as part of your trading arsenal it can be a valid approach at certain times...
Before you add longs please take 5 minutes and look at the weekly bar closing today. It looks very bearish and thats just one of the reasons to look for a breakout of the pattern first, as being safe is better in forex or in any other market you trade.
  • #86,780
  • Apr 17, 2009 2:16pm Apr 17, 2009 2:16pm
Fed Chairman Ben Bernanke defends financial innovation but says the current crisis proves policy makers must make sure new, complex financial products are transparent enough to enable customers to make reasonable decisions.
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