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  • #148,341
  • Oct 1, 2009 7:36am Oct 1, 2009 7:36am
ZZzzzz.....on the noooz
In Charts We Trust!
  • #148,342
  • Oct 1, 2009 8:00am Oct 1, 2009 8:00am
Quoting dogol
.... until now i only trade GBP/USD but i see the price action of EUR/USD is more stable (more predictable) for day trader. GBP/USD has more volatility daily average around 150 pips in compare to EUR/USD just 110 pips .... please any advice from this forum ...

1. why do you prefer to trade EUR/USD?
2. how many pips do you get daily (average)?
3. which time frame is good for day trader?

as info i usually use 3 tfs: 5 m, 15m and 1 H ....

thanks ....

best regards,

dogol
1. why do you prefer to trade EUR/USD?

It's the most liquid pair. Usually the best spreads. It's the big dog.

2. how many pips do you get daily (average)?

I'd suggest looking at each week... you'll get a better ideas where you are at in 3 months.

3. which time frame is good for day trader?

15 min chart. bank traders use it... so should you. i'd put some pivots on the chart also.
  • #148,343
  • Oct 1, 2009 8:01am Oct 1, 2009 8:01am
euro looks like it wants to take off now..
  • #148,344
  • Edited 8:17am Oct 1, 2009 8:02am | Edited 8:17am
The news effects may not over yet but I got the entry at 1.4534. will track till near 1,46 as I see possible double bottom at 50% fib level & though still not convinced it as real bottom.
fontu
Attached Image
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #148,345
  • Oct 1, 2009 8:07am Oct 1, 2009 8:07am
Any ideas what is going on and which direction are we going ? EUR seems to be weak but USD had a goor rally down all day long dont know can they take it further than they did ?
  • #148,346
  • Oct 1, 2009 8:12am Oct 1, 2009 8:12am
We have a lot of room to go down. It touched 1.415 once already its a tough support level to break may not break it on the 1st go. NFP maybe the trigger to break it.
  • #148,347
  • Edited 8:27am Oct 1, 2009 8:17am | Edited 8:27am
It must go up before it goes more down Bernanke comone, give us spike
  • #148,348
  • Oct 1, 2009 8:20am Oct 1, 2009 8:20am
Quoting acumen
3. which time frame is good for day trader?

15 min chart. bank traders use it... so should you. i'd put some pivots on the chart also.
am not exactly a novice: been around the past months and not doing well at all. what is the use of pivots? do you aim for the price to go back to daily pivots? or, if the price goes pass the pivot, for e.g. if the price goes below the pivot it is a good time to go short, and vice versa. appreciate your advice. thank you.
  • #148,349
  • Oct 1, 2009 8:25am Oct 1, 2009 8:25am
francish Pivot levels can be used as support and resis levels. daily/weekely/monthly pivots are powerfull support levels. If prices closes above them then its a good chance price will target the next pivot level. But you need to look at other factors before taking the trade. Price may pierce the level but that does not mean price is going to move to the next pivot level. Need a daily or weekley open/close abocve the level for a strong confirmation.
  • #148,350
  • Oct 1, 2009 8:27am Oct 1, 2009 8:27am
Quoting vinesh2
francish Pivot levels can be used as support and resis levels. daily/weekely/monthly pivots are powerfull support levels. If prices closes above them then its a good chance price will target the next pivot level. But you need to look at other factors before taking the trade. Price may pierce the level but that does not mean price is going to move to the next pivot level. Need a daily or weekley open/close abocve the level for a strong confirmation....
thank you for your explanation. uj going south, bringing ej; and then probably eu as well.
  • #148,351
  • Oct 1, 2009 8:29am Oct 1, 2009 8:29am
I'm selling @ 1.457 TP 1.4535 SL 1.462
  • #148,352
  • Oct 1, 2009 8:34am Oct 1, 2009 8:34am
Quoting Alihuzaifa
haha do u judge people by vouchers? if yes then please dont...few are silent killers lol

posting big posts and trading is different things...i know few people here are great bloggers but dono ABC of trading.
You have the wrong idea, i was complimenting you not judging you. Many people on here are great traders but don't even have 1v and i don't understand that. I have no idea what few are silent killers means. Peace and love.
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #148,353
  • Oct 1, 2009 8:36am Oct 1, 2009 8:36am
Ben b is speaking. he said "stick your head between legs and kiss. im gone to disneyworld with gwb and h paulson". at least thats what i heard.
those who can, do. those who cant, talk about those who can
  • #148,354
  • Oct 1, 2009 8:36am Oct 1, 2009 8:36am
Quoting gatorinla
heres a few predictive levels.. lime green and red are the major ones. the others are minor..ill update if i see a need. if they seem to work for you use them if not throw away..they end at 3826..
wow that is awesome can you post your template please? i want to compare
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #148,355
  • Oct 1, 2009 8:36am Oct 1, 2009 8:36am
Quoting francish
am not exactly a novice: been around the past months and not doing well at all. what is the use of pivots? do you aim for the price to go back to daily pivots? or, if the price goes pass the pivot, for e.g. if the price goes below the pivot it is a good time to go short, and vice versa. appreciate your advice. thank you.
use trendlines. they are better and more reliable.
  • #148,356
  • Oct 1, 2009 8:37am Oct 1, 2009 8:37am
Quoting gatorinla
Ben b is speaking. he said "stick your head between legs and kiss. im gone to disneyworld with gwb and h paulson". at least thats what i heard.
  • #148,357
  • Oct 1, 2009 8:37am Oct 1, 2009 8:37am
and now....who is listening bloomberg right now?
  • #148,358
  • Oct 1, 2009 8:38am Oct 1, 2009 8:38am
Quoting francish
am not exactly a novice: been around the past months and not doing well at all. what is the use of pivots? do you aim for the price to go back to daily pivots? or, if the price goes pass the pivot, for e.g. if the price goes below the pivot it is a good time to go short, and vice versa. appreciate your advice. thank you.
Just add daily pivots to your chart, make sure they reset at the end of US session, and scroll the chart back, you will understand how they work.

Nothing is 100% in forex, but using pivots you can use a 20pip SL for 100 pip profit(or more with weekly/monthly pivots)... all you need is pacience.(for the price to reach the pivot)

EDIT: on another note, anyone still long? I`m long @ 1.4533... still waiting for it to move higher... any other thoughts?
  • #148,359
  • Oct 1, 2009 8:42am Oct 1, 2009 8:42am
my trade may have been a bit too conservative. this would be the ideal entry and exit i suppose for today.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eurusd100109-4.gif Size: 30 KB
Attached File(s)
File Type: tpl eurusd100109-1.tpl   8 KB | 213 downloads
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #148,360
  • Oct 1, 2009 8:57am Oct 1, 2009 8:57am
Quoting eaglestar
wow that is awesome can you post your template please? i want to compare
nope... put them in manual.. no goverment cheese here.. to understand, you need ass time. look at different tf..
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 24 KB
those who can, do. those who cant, talk about those who can
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