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EURUSD

  • #153,321
  • Oct 17, 2009 3:21am Oct 17, 2009 3:21am
Quoting Jay Walker
You got that right.
Jay, human emotions.

I wanted to start with "House Money", those accounts were the bait. But it did not work and cannot work because of emotion factor.

I got my mind right.
The Thief of Wall Street
  • #153,322
  • Oct 17, 2009 3:37am Oct 17, 2009 3:37am
Here is my view on EU...

Let’s have a look at the H4 chart.


http://mikitrading.files.wordpress.c...pg?w=300&h=199



EURUSD is travelling in a range of 1.4950 – 1.4850.
The 1.4850 level is not only a valid strong support and long-term keylevel but also a 23.6% Fibo retracement of 1.4479 – 1.4968.
If the 1.4950-60 level will be broken cleanly, the next near-term target would be around 1.5300.
If 1.4850 support will be violated on the downside, the bearish correction should extend to 1.4479 first, and possibly to 1.4309, as you can see in this weekly chart:


http://mikitrading.files.wordpress.c...pg?w=300&h=197


Furthermore, daily chart presents a mild bearish MACD divergence, supporting this scenario:


http://mikitrading.files.wordpress.c...pg?w=300&h=197



Happy trading!
Murrey Math on every TF + Divergences on higher TFs
  • #153,323
  • Oct 17, 2009 4:01am Oct 17, 2009 4:01am
while.. forex betting and forex trading is one thin line!
  • #153,324
  • Oct 17, 2009 4:06am Oct 17, 2009 4:06am
Congratulations Chicky...

Quoting Chicky
Not in last one year and it will never occur in the future - never ever. But 8 or 9 margin calls before that. Those were part of my plan to enter into forex business with real money trading on 1:400 leverage. However, lost less than the amount set-aside for this purpose - about one week's salary against a loss provision of one month's salary. But it was not me, it was PeterFM who saved me. I took his advice and went demo for eleven months after these margin calls on micro accounts. This saved 75% of my start-up cost.

Kindly remember I demoed...
In Charts We Trust!
  • #153,325
  • Oct 17, 2009 4:09am Oct 17, 2009 4:09am
if anyone is free this weekend, i am still waiting for a layman explanation to this triangle correlation thingy posted by driver55.. i really know 0 about it
  • #153,326
  • Oct 17, 2009 4:11am Oct 17, 2009 4:11am
If price does not break above 1.4910 then I believe this is our turning point....then it can head to 1.4744 and if it is successful there, 1.4211....




Quoting TIckerShuffl
Is this the moment so many have been prognosticating? With all the damning of the USD, is there any life left in the grand ole USA?

I will not best against Euro, but the dollar may have some life left before the fate is concreted in history. I never expected the chain of events that might lead to a significant equity market correction, since I have had all other scenarios debuffed, but the table may finally be set for some "change" in currency action.

Whatever! Long USDCAD myself, and I can only wait an see what happens next. My greatest hope...
In Charts We Trust!
  • #153,327
  • Oct 17, 2009 4:43am Oct 17, 2009 4:43am
Quoting trading801
while.. forex betting and forex trading is one thin line!
But smart and skillful traders are themselves casinos with odds in their favor. Unfortunately, many traders allow punters (gamblers) to sit on empty tables while casino don't. This is where traders lose their clear edge.
The Thief of Wall Street
  • #153,328
  • Oct 17, 2009 4:45am Oct 17, 2009 4:45am
Quoting X.Oden
Congratulations Chicky...
Thanks buddy, I am still trying to master this art.

Did you check the post with that statement we talked about? If not I can pm it to you.
The Thief of Wall Street
  • #153,329
  • Oct 17, 2009 4:46am Oct 17, 2009 4:46am
No I have not seen it.....yes please email me...



Quoting Chicky
Thanks buddy, I am still trying to master this art.

Did you check the post with that statement we talked about? If not I can pm it to you.
In Charts We Trust!
  • #153,330
  • Oct 17, 2009 5:04am Oct 17, 2009 5:04am
interesting concept chicky.... btw xoden u put team usa.. r u bullish on the usd
  • #153,331
  • Oct 17, 2009 5:15am Oct 17, 2009 5:15am
Quoting trading801
interesting concept chicky.... btw xoden u put team usa.. r u bullish on the usd
I am trading AUD/USD pair for safety reasons. I conclude Australia wants strong AUD. Even if dollar gets stronger AUD may still remain strong against EUR.

Europeans may try to return the ball back into the US court because they too have to protect their economy.

AUD/JPY is another option because Japanese government is supposed to protect Yen at 85.00 level agaist USD.

Since you are aware that currency values are not decided purely on the basis of demand and supply, they are subject to government interventions. I believe this is time for them to act.
The Thief of Wall Street
  • #153,332
  • Oct 17, 2009 5:32am Oct 17, 2009 5:32am
Quoting trading801
if anyone is free this weekend, i am still waiting for a layman explanation to this triangle correlation thingy posted by driver55.. i really know 0 about it
The formula is in the neighborhood.

It is simple. a/b . b/x= a/x (b cancels out)

eur/usd , usd/jpy = eur/jpy (USD cancels out)

I am a fuck$#n accountant not an engineer
The Thief of Wall Street
  • #153,333
  • Oct 17, 2009 5:36am Oct 17, 2009 5:36am
I'm thinking GAP down on open.
  • #153,334
  • Oct 17, 2009 5:45am Oct 17, 2009 5:45am
Quoting Chicky
The formula is in the neighborhood.

It is simple. a/b . b/x= a/x (b cancels out)

eur/usd , usd/jpy = eur/jpy (USD cancels out)

I am a fuck$#n accountant not an engineer
reposting with edit, it moved to next page, but I think Trading801 went into the neighborhood.
The Thief of Wall Street
  • #153,335
  • Oct 17, 2009 6:09am Oct 17, 2009 6:09am
Quoting Chicky
reposting with edit, it moved to next page, but I think Trading801 went into the neighborhood.
http://www.thebull.com.au/articles_detail.php?id=6579
here's the triangulation thingy i saw the other day
  • #153,336
  • Edited 6:54am Oct 17, 2009 6:34am | Edited 6:54am
Quoting Larseg
http://www.thebull.com.au/articles_detail.php?id=6579
here's the triangulation thingy i saw the other day
Thanks Larseg. I will read this in detail, just galanced through it.

I spent about three or four months on this triangulation thing. It sometimes gives profit, but very very very little. On some occassions one has to wait for days to see profit. The issue is the base of certain currencies. These relationships keep on changing directions. If demand for gold increases, it may affect AUD and NZD while having no effect on USD, because gold prices may also increase not because of USD devaluing but actual demand for gold rises. Similarly what OPEC does also affect this correlation.

I finally decided to quit this method. It balances very quickly, there are many sharks in the market who wait for this opportunity. You are aware that rates for retail traders and bigger traders vary, with flexible spread and higher spread rates, it turns out to be a futile effort for small traders. This is what I found, maybe I tried it at wrong time.

ps, In fact I went beyond three currencies and made some synthetic currency units to see if arbitrage is possible or it can be maximized, but nothing worked.
The Thief of Wall Street
  • #153,337
  • Oct 17, 2009 7:43am Oct 17, 2009 7:43am
thank u chicky .. am studying it
  • #153,338
  • Oct 17, 2009 8:05am Oct 17, 2009 8:05am
with Goldman on Bull's side don't you worry
http://www.bloomberg.com/apps/news?p...d=aiSI3Jtj1PGE
  • #153,339
  • Oct 17, 2009 8:40am Oct 17, 2009 8:40am
I don't sweat Goldman.
  • #153,340
  • Oct 17, 2009 10:11am Oct 17, 2009 10:11am
"$1.55 versus the euro in three and six months ".. wow.. if goldman is right. thats a 500 pip more to harvest!
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