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  • #132,621
  • Aug 18, 2009 11:32am Aug 18, 2009 11:32am
Oil's up over $2 today - I wouldn't expect much downside for E/U until that begins to reverse.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #132,622
  • Aug 18, 2009 11:35am Aug 18, 2009 11:35am
Quoting Atlast
Day's not over.
that's the point
you're right
42 should be reached
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  • #132,623
  • Aug 18, 2009 12:10pm Aug 18, 2009 12:10pm
I hear many possibilities what moves the EURUSD pair up.

Oil up, dollar down, EURUSD up.

Can people reply and enter their own studies. That would be very interesting.

Thanks in advance
Close your eyes when you feel you are going under.
  • #132,624
  • Aug 18, 2009 12:13pm Aug 18, 2009 12:13pm
Market defying gravity.
  • #132,625
  • Aug 18, 2009 12:14pm Aug 18, 2009 12:14pm
Quoting VinzZ
I hear many possibilities what moves the EURUSD pair up.

Oil up, dollar down, EURUSD up.

Can people reply and enter their own studies. That would be very interesting.

Thanks in advance
Today, I think the DJI is keeping it up. American investors spending money on equities so not USD today. Sometimes that correlation works opposite though.

Regarding commodities, which are up today, it is hard to say which is the chicken and the egg between EUR/USD and oil/gold, but Gator probably knows.
Up or down, gimme a ticket
  • #132,626
  • Aug 18, 2009 12:30pm Aug 18, 2009 12:30pm
It's not that I'm really interested what indices/commodies drives this pair up TODAY. But more an overall view.

DJI went down and now crawls up, so what impact has the DJI? DJI down, EURUSD up?

Quoting SpecialEd
Today, I think the DJI is keeping it up. American investors spending money on equities so not USD today. Sometimes that correlation works opposite though.

Regarding commodities, which are up today, it is hard to say which is the chicken and the egg between EUR/USD and oil/gold, but Gator probably knows.
Close your eyes when you feel you are going under.
  • #132,627
  • Aug 18, 2009 12:31pm Aug 18, 2009 12:31pm
Quoting Atlast
Day's not over.
Now there's a good observation.

m
  • #132,628
  • Aug 18, 2009 12:41pm Aug 18, 2009 12:41pm
Quoting VinzZ
It's not that I'm really interested what indices/commodies drives this pair up TODAY. But more an overall view.

DJI went down and now crawls up, so what impact has the DJI? DJI down, EURUSD up?
All these correlations are subject to change and the only way you can really be on top of them is if you collect the data for the currency pair and commodity (or whatever) that you want to correlate and run the correlation calculation yourself. You can look at long-term (years worth of daily data) or short term (past month of hourly data) or whatever but then you still have the issue of how to interpret your results. You can go nuts, notch style, and do an intermarket analysis, with cross-correlations between dozens of instruments (currencies, stock indices, commodities, etc) & then use a neural net program to do predictive forecasting for price in each inter-related instrument. While you're at it, go ahead and get a PhD in math.

Me I just keep an eye on the stock indices and commodities and cross my fingers. I'm only looking for 5-10 pips at a time so wtf.

I would not develop a dependecy on any assumption, though, because as soon as you do it will turn around and bite your ass...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #132,629
  • Aug 18, 2009 12:44pm Aug 18, 2009 12:44pm
The Fool,

If your only after 5 or 10 pips per trade how many do you run in an average day?
  • #132,630
  • Aug 18, 2009 12:53pm Aug 18, 2009 12:53pm
Thanks for your input, I won't go nuts guaranteed! Well, not notch style
What stock indices and commodities change are underline your bias?

Quoting The Fool
Me I just keep an eye on the stock indices and commodities and cross my fingers. I'm only looking for 5-10 pips at a time so wtf.

I would not develop a dependecy on any assumption, though, because as soon as you do it will turn around and bite your ass...
Close your eyes when you feel you are going under.
  • #132,631
  • Aug 18, 2009 12:54pm Aug 18, 2009 12:54pm
Quoting ForexMason
The Fool,

If your only after 5 or 10 pips per trade how many do you run in an average day?
I don't know if I have an "average day" yet, as I am still in learning mode & work a dayjob that sometimes leaves little time for trading. But, yesterday for instance, I think I closed about 12 trades for about 90 pips total. When I have good runs of free time I might do as much as 50 trades in a day.

Check out Acumen's trade record charts sometime. I basically trade the same way as he does but he seems to get off probably 4x the number I do. Probably comes with practice. Cobra, too, I think I have seen him say he's doing 200 per day....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #132,632
  • Aug 18, 2009 1:01pm Aug 18, 2009 1:01pm
Quoting The Fool
I don't know if I have an "average day" yet, as I am still in learning mode & work a dayjob that sometimes leaves little time for trading. But, yesterday for instance, I think I closed about 12 trades for about 90 pips total. When I have good runs of free time I might do as much as 50 trades in a day.

Check out Acumen's trade record charts sometime. I basically trade the same way as he does but he seems to get off probably 4x the number I do. Probably comes with practice. Cobra, too, I think I have seen him say he's doing 200 per day....
I used to do about 40 a day, now I do less, taking partial profits key, and knowing when to double in.
  • #132,633
  • Aug 18, 2009 1:01pm Aug 18, 2009 1:01pm
The 3 o'clock fade.

Love this trade.

m
  • #132,634
  • Aug 18, 2009 1:04pm Aug 18, 2009 1:04pm
Quoting The Fool
I don't know if I have an "average day" yet, as I am still in learning mode & work a dayjob that sometimes leaves little time for trading. But, yesterday for instance, I think I closed about 12 trades for about 90 pips total. When I have good runs of free time I might do as much as 50 trades in a day.

Check out Acumen's trade record charts sometime. I basically trade the same way as he does but he seems to get off probably 4x the number I do. Probably comes with practice. Cobra, too, I think I have seen him say he's doing 200 per day....
Beating the market means you are winning.

It's really that simple.

At the end of the month if you are in the black... you are a great trader.

Most aren't.

The amount of trades doesn't matter... it's the consistency.

Keep doing what you are doing... winning.

m
  • #132,635
  • Aug 18, 2009 1:05pm Aug 18, 2009 1:05pm
Quoting acumen
Love this trade.
not much
target 4200 is still waiting tomorrow morning!
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  • #132,636
  • Aug 18, 2009 1:06pm Aug 18, 2009 1:06pm
Quoting VinzZ
Thanks for your input, I won't go nuts guaranteed! Well, not notch style
What stock indices and commodities change are underline your bias?
During the day I always watch the S&P futures & the DJIA, spot oil price and oil futures, spot gold price....also other pairs - E/J, G/U, U/C, U/J.... I have a bigass 40" monitor and that's all it does. Around the LO I just watch oil & gold spot price, and the other pairs; I should start watching the european stock indices during the wee hours but not there yet.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #132,637
  • Aug 18, 2009 1:08pm Aug 18, 2009 1:08pm
Quoting acumen
The amount of trades doesn't matter... it's the consistency.

Keep doing what you are doing... winning.

m
Thanks, dude! I intend to keep at it...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #132,638
  • Aug 18, 2009 1:09pm Aug 18, 2009 1:09pm
Quoting Forbes55
not much
target 4200 is still waiting tomorrow morning!
Sorry... the market's bid... I think you are ok.

m
  • #132,639
  • Aug 18, 2009 1:24pm Aug 18, 2009 1:24pm
Thanks for the replies .I was just interested that's all, 200 per day would wear me down before I even reached lunch time!

I must admit to setting my alarm for 4am this morning just so I could place a trade if the chart was good to me. I placed it and it paid off........only on my demo account though :-(
  • #132,640
  • Aug 18, 2009 1:37pm Aug 18, 2009 1:37pm
Could you point me in the direction of Acumens trade record? I have done a search but can't locate it.

Ta
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