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EURUSD

  • #150,101
  • Oct 7, 2009 4:39pm Oct 7, 2009 4:39pm
Well yeah you're right about short term trades...I think brokers live off scalpers......

Dirty bastiges...but that's the reason I hedge.....I also only trade in one direction unless for instance, we reach a new high on the longer frames like now....

I figure I'm in uni directional, they can't touch me going the opposite way....




Quoting The Fool
I think that is quite true. At a certain point, if your mm game is tight, they can't really hurt you too bad and would instead just dump you. They could piss off a scalper pretty easily, though, if they wanted to.
In Charts We Trust!
  • #150,102
  • Oct 7, 2009 4:40pm Oct 7, 2009 4:40pm
Quoting gatorinla
how the ga working for u?
Oh, hey man! I thought you disappeared. You were not here for a while. What happened?
  • #150,103
  • Oct 7, 2009 4:43pm Oct 7, 2009 4:43pm
Quoting gatorinla
hows the ga working for u?.... its comming gbp is going down,, aud is going up.. the best combo...it came up enough to let me load a few more on it..
yeah that pair is showing me some love. thanks to your levels!
  • #150,104
  • Oct 7, 2009 4:44pm Oct 7, 2009 4:44pm
Quoting TheFisherman
Oh, hey man! I thought you disappeared. You were not here for a while. What happened?
i dont know.. do i look sick? ive been here but playing other pairs intra day..6 pairs keep me busy..
those who can, do. those who cant, talk about those who can
  • #150,105
  • Oct 7, 2009 4:46pm Oct 7, 2009 4:46pm
Quoting gatorinla
i dont know.. do i look sick? ive been here but playing other pairs intra day..6 pairs keep me busy..
i envy you. for me anything more than two is a pain in the butt
  • #150,106
  • Oct 7, 2009 4:48pm Oct 7, 2009 4:48pm
Quoting gatorinla
i dont know.. do i look sick? ive been here but playing other pairs intra day..6 pairs keep me busy..
Oh, hey: you seem the kind of trader that does this for a living. How much is "for a living" worth a month in your opinion. Not a personal question you can say anything you like but me and Fool we were wondering about some stuff earlier.
  • #150,107
  • Oct 7, 2009 4:54pm Oct 7, 2009 4:54pm
Quoting unBEARable
yeah that pair is showing me some love. thanks to your levels!
ive been getting love long long time... gu gy ga set and forget ... now au eg ... hoping to set and forget them now.. eu is to much like work... but i got a small short still in play..if you take saudis/aussie rate raise news and the lately bullshit and were at 4444.. but i cant chart news before it happens like some do..
those who can, do. those who cant, talk about those who can
  • #150,108
  • Oct 7, 2009 4:57pm Oct 7, 2009 4:57pm
I posted my views on what it might take to trade for a living in this thread:

http://www.forexfactory.com/showthre...155393&page=32

Its expensive to live in the USA, especially if you have a mortgage or two, offspring, child support, pay shitloads for insurance, etc.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #150,109
  • Oct 7, 2009 4:58pm Oct 7, 2009 4:58pm
Quoting TheFisherman
Oh, hey: you seem the kind of trader that does this for a living. How much is "for a living" worth a month in your opinion. Not a personal question you can say anything you like but me and Fool we were wondering about some stuff earlier.
a little it pays the bills..
those who can, do. those who cant, talk about those who can
  • #150,110
  • Oct 7, 2009 5:07pm Oct 7, 2009 5:07pm
Quoting gatorinla
..if you take saudis/aussie rate raise news and the lately bullshit and were at 4444.. but i cant chart news before it happens like some do..
...what about the saudis, gator...what am I missing? You mean the whole jump ship on the USD as the petrocurrency deal...?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #150,111
  • Oct 7, 2009 5:10pm Oct 7, 2009 5:10pm
Quoting gatorinla
a little it pays the bills..
Man, a little in your country ca be a big in mine. I am thinking that for a trader one should make at least 5K a month to compensate for the stress and uncertainity (not the right word I know but can't think of other). to make 5K if one is a hotshot trader one would need a 20K account at least. Here's the thing. Nobody would risk a 20K account. Would rather start small, say 2-3K. Then you need a heckuva lot more % a month to get to 20K in due time. Or else one would have to work and not dedicate enough time to Forex so one can get a hotshot.
Where's the exit? Well, it's micro lot bucket shops. And this seems to be a dead-end. Anybody read Catch 22?
  • #150,112
  • Edited 5:40pm Oct 7, 2009 5:21pm | Edited 5:40pm
Quoting The Fool
...what about the saudis, gator...what am I missing? You mean the whole jump ship on the USD as the petrocurrency deal...?
yeah... that drum gets beat every couple of months..then cnbc/bloomberg ect. the ones that get paid from wall street play the same recordings over and over.. to prop up wall street.. just like each time oil goes down a pirate or gorilla pops out the wood pile.. same old bs different day...
those who can, do. those who cant, talk about those who can
  • #150,113
  • Oct 7, 2009 5:25pm Oct 7, 2009 5:25pm
Quoting gatorinla
.. same old bs different day...
I heard that.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #150,114
  • Oct 7, 2009 5:36pm Oct 7, 2009 5:36pm
gator did you get my PM?
  • #150,115
  • Oct 7, 2009 5:37pm Oct 7, 2009 5:37pm
Quoting TheFisherman
Man, a little in your country ca be a big in mine. I am thinking that for a trader one should make at least 5K a month to compensate for the stress and uncertainity (not the right word I know but can't think of other). to make 5K if one is a hotshot trader one would need a 20K account at least. Here's the thing. Nobody would risk a 20K account. Would rather start small, say 2-3K. Then you need a heckuva lot more % a month to get to 20K in due time. Or else one would have to work and not dedicate enough time to Forex so one can get a hotshot.
Where's...
look at the big picture. it just dont matter.. its a business...making 1% is making 1% ... dont look at the dollar amount, it will slaughter a pig..you want possitive % more times then negative.. with proper r/r a tiny account can be huge in a few short years..most risk to much on one trade and blow account.. the only sure thing is it takes X amount of trades to equal a big account.. there are no shortcuts... if your winning half your trades with proper r/r then you are winning. it you get 8 out 10 your doing very well.. with a sizable account 8 out of 10 is a good average. there are many who do better with a smaller account. with a sizable account you cut lossers early. 2 bad trades = 8 good trades if your lucky.. 2 bad trades is part of doing business..holding a losser even if it later turns green is a bad strategy....this is how so many with a smaller account bring up their win/lose average.. you lose many good trades holding a losser till it turns green.. and if you dont cut it you will lose entire account without proper r/r..
those who can, do. those who cant, talk about those who can
  • #150,116
  • Oct 7, 2009 5:42pm Oct 7, 2009 5:42pm
Quoting unBEARable
gator did you get my PM?
give me a few..
those who can, do. those who cant, talk about those who can
  • #150,117
  • Oct 7, 2009 5:45pm Oct 7, 2009 5:45pm
Quoting gatorinla
look at the big picture. it just dont matter.. its a business...making 1% is making 1% ... dont look at the dollar amount, it will slaughter a pig..you want possitive % more times then negative.. with proper r/r a tiny account can be huge in a few short years..most risk to much on one trade and blow account.. the only sure thing is it takes X amount of trades to equal a big account.. there are no shortcuts... if your winning half your trades with proper r/r then you are winning. it you get 8 out 10 your doing very well.. with a sizable account 8...
I hear you. I was talking about a different thing though - pure math integrated with reality. One cannot live off thin air. I and you both need a monthly income to pay the bills (and bank loans you forgot that ). To make a success in this business you need to consider it just as any other business. And we're talking revenue. The fixed costs are your monthly need. There are no variable costs. Put in an initial investment, get a decent return and it's a business. It can't be looked any other way. 100$ a month with 8-10 hrs commitment is a loser.
  • #150,118
  • Oct 7, 2009 5:52pm Oct 7, 2009 5:52pm
OK Traders, Tokyo open is coming up and we should get a breakout one way or the other in the next hour. Oil and S&P futures are up. Which way will she go? North or South? Coin toss 50/50?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #150,119
  • Oct 7, 2009 5:59pm Oct 7, 2009 5:59pm
Spike to 149.5 or there abouts.
Then we can Trade it.
Just sayin'.
I could be way wrong.

We'll see...
BMc
  • #150,120
  • Oct 7, 2009 6:00pm Oct 7, 2009 6:00pm
2 day inside bar. there is a breakout coming. The dollar is trying to bounce back.
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