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  • #150,901
  • Oct 9, 2009 7:04am Oct 9, 2009 7:04am
Quoting Atlast
bad luck. it will probably drop now.
to 4650
  • #150,902
  • Oct 9, 2009 7:07am Oct 9, 2009 7:07am
Quoting Turtle4x
to 4650
lower, but it's friday and trend is still up so reversal down would have to be quick.
and recent good eco news playing on the pair today.
  • #150,903
  • Oct 9, 2009 7:12am Oct 9, 2009 7:12am
Just penetrated 1 minute support.
I'm setting stop losses now at break even.
  • #150,904
  • Oct 9, 2009 7:13am Oct 9, 2009 7:13am
Quote of the Day:
He, who hesitates is lost. He, who is trigger-happy is lost too.

Have a nice weekend guys. I'm sitting by the sidelines before the figures unfold.
  • #150,905
  • Oct 9, 2009 7:16am Oct 9, 2009 7:16am
Quoting Turtle4x
to 4650
possible... if it manages to get below 4586 and hold its bad for bulls since we did not get back above 4855.. but us playing ping pong between those 2 numbers for weeks could be profitable also..
those who can, do. those who cant, talk about those who can
  • #150,906
  • Oct 9, 2009 7:17am Oct 9, 2009 7:17am
Against my rules I'm short Eurusd at 1.4766 - target 1.4622

See the trade chart

1.4751 is critical for me, let's see how that unfolds...
Getting it right is NOT as important as not getting it wrong.
  • #150,907
  • Oct 9, 2009 7:18am Oct 9, 2009 7:18am
Quoting gatorinla
possible... if it manages to get below 4586 and hold its bad for bulls since we did not get back above 4855.. but us playing ping pong between those 2 numbers for weeks could be profitable also..

Yeah I am not trading enough to capitalize on the range action, basically 300 pip range over 1.25 months.

I am ust trying to get positioned for the USD recovery for the long haul. I would prefer to short Euro at 1.50 at this point. Looking for volatility and %moves.
  • #150,908
  • Oct 9, 2009 7:20am Oct 9, 2009 7:20am
Quoting M1g
I find this post of yours particularly interesting man. How long did it take you to become profitable on a consistent basis to make you consider you could actually make a living off it? Would appreciate answers from all of you veterans as I'm sure many of us rookie traders may/will find your answers educational.

Thanks.
over 6 years, tried it all, neural nets, elliott, indicators, own indicators (i can design the best trend indicator you can find), trading courses, gurus, .etc, etc, etc, and blew account after account, debts after debts, pain after pain, until one day i saw the light, that's why i decided to join this forum, the only one I have ever posted to, to help a little for a few months, and I never imagined i'd still be here after this time, and probably will disappear soon as i have a lot on my plate now.
  • #150,909
  • Oct 9, 2009 7:29am Oct 9, 2009 7:29am
Quoting Atlast
over 6 years, tried it all, neural nets, elliott, indicators, own indicators (i can design the best trend indicator you can find), trading courses, gurus, .etc, etc, etc, and blew account after account, debts after debts, pain after pain, until one day i saw the light, that's why i decided to join this forum, the only one I have ever posted to, to help a little for a few months, and I never imagined i'd still be here after this time, and probably will disappear soon as i have a lot on my plate now.
FX is fun and all, especially if you like economics and global finance, but the fact is even the best get burned. I don't think making a living off forex is a good idea unless you have plenty of capital and a SOLID strategy, both short term and long term, with proper hedging through futures options or other means, ie ETF (god forbid). To build wealth as a trader you need to be diversified, not over trade and pick your positions and adjust holdings as events unfold. Frankly the best way to build wealth, is to SAVE MONEY.
  • #150,910
  • Oct 9, 2009 7:32am Oct 9, 2009 7:32am
You can also just be precise and trade with the herd. That works too.
  • #150,911
  • Oct 9, 2009 7:34am Oct 9, 2009 7:34am
Quoting PipVip
You can also just be precise and trade with the herd. That works too.
If it works for you, stick to it! There's a million ways to make it in show business.
  • #150,912
  • Oct 9, 2009 7:40am Oct 9, 2009 7:40am
Atlast,

I have enjoyed reading your comments and history of how things came to be and where they are headed. Very informative.

I do hope you stay around. I still need to learn and understand. Your history of your experience in forex is similar to mine! Except I can't program anything and you have more vast training on all those areas you studied.

However, when you "saw the light"....what did YOU discover...is this something you will share or only threw a PM?

Re: Trading....it appears the EU bounced off the Median line at 4700 and went back up only to drop again.....How are you playing it today? Have you entered in yet? Thanks
  • #150,913
  • Oct 9, 2009 7:44am Oct 9, 2009 7:44am
Divergence on the 4hr chart....
In Charts We Trust!
  • #150,914
  • Oct 9, 2009 7:44am Oct 9, 2009 7:44am
fitures down .29 %
  • #150,915
  • Edited 7:47am Oct 9, 2009 7:45am | Edited 7:47am
Euro break above 1.4800 was a 3-wave "B" wave, and we are moving lower in 5-wave "C" wave to complete a Flat, ...support 1.4640
  • #150,916
  • Oct 9, 2009 7:47am Oct 9, 2009 7:47am
14733 have some support...if it breaks then it will continued down.
{Promotion Removed}
  • #150,917
  • Oct 9, 2009 7:47am Oct 9, 2009 7:47am
Quoting IMARICH1
Atlast,

I have enjoyed reading your comments and history of how things came...
I am currently short off near the top. Closed out short earlier and entereed long, now short.
I posted at the beginning when I started how it works for me, it would probably take a good look back to find those posts but it's there. Effectively, put yourself in the market, rather than outside, on a journey every day, it's psychological. You already know the main part of my strategy and I notice you are getting much better.
  • #150,918
  • Oct 9, 2009 7:55am Oct 9, 2009 7:55am
Atlast,

I honestly think i have read every post of yours but maybe I missed something...I will re-read again....

I did not enter Short again at the top as i was not sure if we were going to get another move up.....chickened out....

I will take a Short off a Cross of the MEDIAN LINE or if it bounces a LONG...but I never know which TF is the best for judging this regarding a candle crossing over the M Line...
  • #150,919
  • Oct 9, 2009 8:01am Oct 9, 2009 8:01am
Tanking...
  • #150,920
  • Oct 9, 2009 8:04am Oct 9, 2009 8:04am
Chf has to break thru the Daily Pivot @0320 as it has hit it a few times.....before the EU will move down....IMO
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