EURUSD

im gonna short gu shortly

damn i missed the top

Yes I am steelhead. I dont service forex clients anymore i got tired of the same mentality that i see in here. Jacko and others still do though and seem to get away with it for some reason. That part still baffles me. I guess if twee is on your buddy list you are immune to the rules of this site?

Just funny cause 5 months later you all are making the same mistakes as before. You dont learn from your mistakes and continue to do the wrong thing at the wrong time.


Attention Twee since i know you will be reading this. I DON"T SERVICE FOREX CLIENTS ANYMORE!!!!!!!!!!!!


90% of successful traders don't spend a lick of time on this site. Think about that newbies before you waiste your time listening to so called guru's on here.

i am a taker. In at 5147 short.

Well, that was the best call I've made in quite a long while...

I suppose we can all look forward to your inane rants again all over the forum while you try to gin up a fresh audience and rail on indicators, charts, the anti-herd, and everything else in Your Universe that doesn't make your Cut...

Just Great... Now that you've farted in the elevator again, any chance you'll leave this ridiculous site that only the 90% losers like us frequent, or do you really need the attention that badly?

Been here, done this before dude... and you know it.

Tick... Tock...

Out with 10. Thanx guys.

nah no more rants i dont give a flying lick about helping people anymore. I tried that and got tired of it. People will do what they want to do so that fine. Im just going to go fishing in alaska up in your neck of the woods.


So dont poop on me and i wont poop on you deal?

I can take care of myself... Extend that to not pooping on this thread or the noobs here and it's a deal.

The old timers here are Fair Game if you're up to it, but that's betwixt you and them...

Im not going to fight with anyone im over it. I dont agree with most of the trading styles that people apply in here but whatever. To each his own.

I really am worn down from this whole buisness of forex. I just got tired of the same people asking the same question over and over again. So i closed down the service.

Jesus Christ guys.

Who's been pooping and where?

Hey I'm not the only person that just does not like ak4x sweet!!!!

I bet your ownly 4foot 2 ak4x small mans complex for sure.

Gator, two choices... save the profile or save the template, depending on what you're trying to do... here's the steps for both.

I can't find your post now, but I swear it was here a minute ago..

Sorry but you're way too late to this party... and it's over anyway so you missed the boat.

Again.

i feel so cheap... they split us up.."one old timer for you. one for me"

ECB rate event outlook:

Tomorrow is the moment the market's have been waiting for... will the ECB follow the Fed and BOE or won't they... first of all, lets look at a few of the facts:

 

1. The Eurozone fundamentals are abysmal
2. Germany remains in full recession
3. European banks remain under pressure and continue being downgraded
4. European growth is expected to contract by 4.00%
5. Debt-to-GDP levels are above EU standards
6. Evidence of consumer and producer disinflation
7. Eurozone unemployment expected to rise to 11.5%

Those are just a few of the issues, with the worst being continually contracting growth, rising unemployment, and the worst of all, potential deflation. Europe is under performing against the rest of the world and the European banking system continues to be fractured. Some of the worst banks on the planet are European banks... they remain highly leveraged, insolvent, and on the brink. I'm talking about crap banks like RBS, UBS, Fortis, ABN etc.

Now if it wasn't for the euro's tight correlation to the S&P 500 and the European bourses tight correlation to Wall St. equity markets, there's no telling how nasty things would be looking right now. So, in regards to what the ECB will do with interest rates, I expect the ECB Key Lending Rate to be reduced by 25bps to 1.00% and the deposit rate to remain at 0.25%. Should the ECB cut rates by more than 25bps, that would be viewed as a shock to the markets and we should expect to see the euro sell-off, likewise, if the ECB holds rates at 1.25%, this too would be a shock and the euro should gain good ground against the dollar.

Non-standard measures--

The real question for tomorrow is, what will the so-called 'non-standard measures' be? And will there even be an announcement of non-standard measures? As we've talked about many times the past two weeks, various members of the ECB governing council have been talking the euro up and talking it down in addition to giving strong rhetoric for or against the use of non-standard measures. There's a clear divide on the governing council and some members have come out strongly against buying debt, quantitative easing, and adding more fiscal stimulus.

In it's current state, the Maastricht Treaty forbids the ECB from buying sovereign debt. Basically, law forbids the ECB from doing what the Fed is doing with Treasuries. But as we all know, central bankers are masters of creativity and political spin. We have no idea if any backroom deals were made to somehow magically make it legal for the ECB to buy European sovereign debt, so I think we go into tomorrow's rate event knowing there's a good potential the ECB announces a plan to buy government debt. The probabilities for this happening are not high, but they exist nonetheless.

In order for it to even make logical sense for the ECB to buy sovereign debt they would have to reduce their key lending rate to at least 0.75% but more likely to 0.50%. No matter how you slice it, it makes zero sense from an economic and fundamental standpoint to go down the route of quantitative easing when the bank refinancing rate is at 1.00% or higher. No central banker with half a brain cell would go down the quantitative easing route and forced currency devaluation when interest rates are still higher, they would first take rates low and at least to 0.75% before starting that program.

But, there's no way me or anybody else can predict what Trichet will reveal during his 0830 EST press conference in regards to these non-standard measures, I don't even want to speculate on it anymore. I will not attempt to pre-position myself I'd rather allow Trichet to reveal what he wants and say what he has to say, and then go from there. That being said, if he does reveal a quantitative easing plan, I'll change my bias not to buy the USD right now and I'll sell the euro against the dollar, no questions asked.

Potential euro risk--

Beside the debt-buying risk, the euro is also at risk should Trichet give strong rhetoric about deflation and or disinflation fears in Europe. I cannot stress enough how terrible deflationary pressures are on the euro, it's really a terrible thing. Some of the Eurozone's data shows true disinflation happening in Europe. If Trichet decides to put the spotlight on this issue and warns that deflation could be a real credible problem for Europe, the euro should get hammered. Deflation is a very bad thing for a currency...

That's all I've got to say on the interest rate event. All the market movers will be watching, listening, and dissecting Trichet's every word so do yourself a favor and tune-in. You can watch it here at 0830 EST / 1230 GMT.

If I could be bothered, I would go back the 78 or 79 pages of what probably is drivel.

Someone has the Reader's Digest version?

thanks i found it in cdrive in mt4 folder.. i dont know why it wont stay in the regular templet pulldown.. oh well i know how to get it now and can close some windows.. now it i could just find cobras stuff in it... friggen mt folder..

Target hit... took long enough.

Those BB's work pretty well in this kind of PA if you take all the various factors into account and use them at the rright time of the session, and don't get too greedy. This one was borderline, I'd have been out awhile ago if I'd had a target just 2 or 3 pips higher...

FWIW, those settings for the 15m/20m BB's on my chart are 15,1.8,-1.8 Nice and tight.

Done for the evening. Careful trades all...

Unusual for me but a short from 5140 on GU... +3 locked and forgetting about it for awhile. No set TP atm.

I currently use CFD providers for FX - GFT/IGMarkets - and would like to have a look at Metatrader, is there somewhere I can get live data on a demo account to have a look.

I thought you are doing pretty well shepherding and shooing them into right formations, getting them on/off the train, buying/selling advanced train tickets, etc etc...

Most of the new traders and learners here I think are hoping to find some sort of cheat methods/short cuts in this thread to circumvent the whole learning curve in forex trading which in reality does not exist. Believe me, most of them are still in the stage where they dont even know what is needed to know to survive and then succeed in this business of forex (not to mention those who are already trading live with those little knowledge they have).

I had posted on this topic a few times and I am not going to go thru it again but for those who seriously want to be a forex trader must first learn and master the basics first then search internally (knowing yourself) and list/write down all thats required for you to need to know in order to survive and succeed in this business and then start the long and arduous learning process from there(most will not survive this stage). Once they have reach this stage, one will notice they will begin to ask all the right and pertinent questions( not piece meal type) THEN only THEN you will know that they are ready to learn and seek for external aids/helps/tips/whatever and rendered themselves to be teachable(not live trade).

I am saying all these from my own experience as a living mentor(almost cost my health btw)which I have posted earlier regarding the 'Onion'
analogy.(Peeling onion is always difficult and will reduced all to tears most of the times) The end result is mostly disastrous/surrender BUT for those who prevailed, the onion is not only sweeter than honey but it also morphed into a minty 'goose' for not only you but all your future generations as well.

Enough 'trash' from me and back to today PA which I have mentioned yesterday that it is in a 140/140 rangey/consol mode and it seems to be even getting tighter and northerly as we approach the ECB decision and NFP.

I am personally smelling a rat here and strongly believe its a 'bulls trap' lulling all the sellers/shorters into a false read on the market direction and price sentiments. Quick scalps is advisable at this moment.

In any case whatever the outcome shall be, I will be depending on my trusty price dynamics indicators to show me the way no matter whether its going north or south or east.

I will also post if significant PA develop for those who wish to listen and if not its status quo atm.

GL and happy trading and learning for some....and Atlast, I like what I see you are trying to do here...

Your very bad luck is that AK doesn't care about 100$ account blowers.

Happy margin call
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