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  • #177,661
  • Jan 5, 2010 3:09pm Jan 5, 2010 3:09pm
  •  jaboo
  • | Joined Dec 2009 | Status: Ray Comfort is....the banana man | 236 Posts
arggh. who would agree with me that today was difficult trading on this pair.

felt like a roller coaster. I had some great entrys only to either get stopped out at BE or for a small loss. Rince and repeat alllllll night.
  • #177,662
  • Jan 5, 2010 3:17pm Jan 5, 2010 3:17pm
Quoting jaboo
arggh. who would agree with me that today was difficult trading on this pair.

felt like a roller coaster. I had some great entrys only to either get stopped out at BE or for a small loss. Rince and repeat alllllll night.
what's your average SL and TF you trade?
  • #177,663
  • Jan 5, 2010 3:26pm Jan 5, 2010 3:26pm
hey malcolmb,

again great example of looking at the BACKGROUND!!!!
thanks for hint...great hint...

Quoting malcolmb14
comments on news

1) news is designed to add volatlity with market. Take news away and eu would remian in 5 pip range for decades

2) pros buy into strength and sell into weakness. If pros are bearish long term and pair moves up 200 pip on ' good news ' watch for ultra hihg wide spread up candles ... 99% of time this is hidden seller , wait for a dip ... then a double top ...GU chart shows this

Attachment
  • #177,664
  • Jan 5, 2010 3:26pm Jan 5, 2010 3:26pm
could be nice... but risky because of Asian session in front of us
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  • #177,665
  • Jan 5, 2010 3:31pm Jan 5, 2010 3:31pm
Quoting jaboo
arggh. who would agree with me that today was difficult trading on this pair.

felt like a roller coaster. I had some great entrys only to either get stopped out at BE or for a small loss. Rince and repeat alllllll night.

trend sine 1.4477 is down on 30 min

If yoiu were trading with the trend and getting right entry stops could have been 40 pip

I would like to see test 1.4400 before or during asia and see if we get sellers in that zone.

the last 2 days point of control ( indicating distribution) was 1.4424...

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Blogging daily now at www.volume.zone
  • #177,666
  • Jan 5, 2010 3:32pm Jan 5, 2010 3:32pm
Quoting capetown
hey malcolmb,

again great example of looking at the BACKGROUND!!!!
thanks for hint...great hint...

look at my comment on GU on the 400 pip move up

all that was desinged so they could sell it when real volume came back in .

I expect GU to be fairly bearish fater NFP ... may even test / break 1.5750
Blogging daily now at www.volume.zone
  • #177,667
  • Jan 5, 2010 3:36pm Jan 5, 2010 3:36pm
  •  jaboo
  • | Joined Dec 2009 | Status: Ray Comfort is....the banana man | 236 Posts
Quoting Jack Herer
what's your average SL and TF you trade?
i use the 1 and 4 hour to plot my S/R. I put them on the 15 minute chart and use a 5/8 EMA to determine momentum to see if they will break or hold.

2 of my support lines held so i longed. .4413. .4398.

I wasnt determined to go south until a break of .4386 but by then i was sleepin like a baby.

My SL are always very tight. 10-15 pips. Ive heard by many traders this is a very bad idea as it wipes out ur account faster than youd think but im still extremely new. Im making all the mistakes amateurs do, getting out of trades too early and not letting them run, getting scared and exiting for a small loss only to see if go in my direction. you know the usual.
  • #177,668
  • Jan 5, 2010 3:38pm Jan 5, 2010 3:38pm
I do ...I did...Master
I think I have finally priviledge to make more sence of Forex due to Your great inputs...
Thanks a lot....
I will send one attachment to the volume thread, because I thought this morning ( I am from EU ) was nice set up for shorting EU, as well GU.. just a new kid on the block in volume....
Slovakia
even new..in demo in two days BIG PLUSS
Quoting malcolmb14
look at my comment on GU on the 400 pip move up

all that was desinged so they could sell it when real volume came back in .

I expect GU to be fairly bearish fater NFP ... may even test / break 1.5750
  • #177,669
  • Jan 5, 2010 3:42pm Jan 5, 2010 3:42pm
been in game 7 years and last paragraph i still do a lot of those.

In regards to stops .. being a newer trader you will not get exact entries.

Have a wider stop , that is managed as perecent risk on account (1%)

Trade with the trend or if a defined range ( 1.4440 to 1.4280) then wait for entries at tops and bottom of range with 30 pip stops. DO NOT enter a trade in the middle just because.

Right now we have weakness under 1.4400 ... trend on 30 min is down , bottom of larger channel is 1.4280 , so guess where this is more liekly to go if 1.4400 holds ...so look for sell entries on 15 min charts.


Quoting jaboo
i use the 1 and 4 hour to plot my S/R. I put them on the 15 minute chart and use a 5/8 EMA to determine momentum to see if they will break or hold.

2 of my support lines held so i longed. .4413. .4398.

I wasnt determined to go south until a break of .4386 but by then i was sleepin like a baby.

My SL are always very tight. 10-15 pips. Ive heard by many traders this is a very bad idea as it wipes out ur account faster than youd think but im still extremely new. Im making all the mistakes amateurs do, getting out of trades too early and...
Blogging daily now at www.volume.zone
  • #177,670
  • Jan 5, 2010 3:47pm Jan 5, 2010 3:47pm
This is the best to loss money..my previous experience..

DO NOT enter a trade in the middle just because!!!!!

One of the reason I lost some trades was.........because lets give a SHOOT!!! and later LOST!!!!
Slovakia
  • #177,671
  • Jan 5, 2010 4:06pm Jan 5, 2010 4:06pm
Quoting capetown
This is the best to loss money..my previous experience..

DO NOT enter a trade in the middle just because!!!!!

One of the reason I lost some trades was.........because lets give a SHOOT!!! and later LOST!!!!
Slovakia
i think the same way.
i'm usually right when i wait for the setup to happen and buy/sell at the right moment.when i try to enter in the middle of a movement usually that point become resistance
that's frustrating though,if my original idea was wrong i don't know what to do and i don't want to stay idle;i cant find a good scalping sistem though...
  • #177,672
  • Jan 5, 2010 4:11pm Jan 5, 2010 4:11pm
IF there a 1 single currency that I'd love to SELL against $USD.

That be Japanese YEN. I'm selling it with both hands right now..

This is going to 120.00 to a Dollar. If anyone would default before USA, -

that's Japan - 200% Debt to GDP.. Those guys just barely hanging out there..

P.S Fugu fish sucks anyways.
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #177,673
  • Jan 5, 2010 4:17pm Jan 5, 2010 4:17pm
I agree with you, it was a really tough day for me as well. I think the market really was undecided about this pair for long time frames today.
  • #177,674
  • Jan 5, 2010 4:30pm Jan 5, 2010 4:30pm
Quoting malcolmb14
comments on news

1) news is designed to add volatlity with market. Take news away and eu would remian in 5 pip range for decades

2) pros buy into strength and sell into weakness. If pros are bearish long term and pair moves up 200 pip on ' good news ' watch for ultra hihg wide spread up candles ... 99% of time this is hidden seller , wait for a dip ... then a double top ...GU chart shows this

Attachment
i love those double top/bottoms W/M and always look for them...i measure moves.. they tell a story. add in a tl or fib near math and im in...more then doubled account since late nov. with never more then 2% risked and only early in the trade. usaully my sl is pretty tight .20% a pip is not uncommoun (10 pips)...i hate news....

many foreign banks are buying usd lately.. s. korea and brazil and a few others every day lately..
those who can, do. those who cant, talk about those who can
  • #177,675
  • Jan 5, 2010 4:41pm Jan 5, 2010 4:41pm
Quoting gatorinla
good.. you can use this to fund eu longs..
Blogging daily now at www.volume.zone
  • #177,676
  • Jan 5, 2010 4:51pm Jan 5, 2010 4:51pm
Offtopic:

Anyone knows about aud/cad?

Looks like a great short opportunity on DAILY chart with a div and overbought

(tops around 0.9730 - 0.9470)

What do you say?
They think they are smarter than I am.
  • #177,677
  • Jan 5, 2010 5:17pm Jan 5, 2010 5:17pm
Quoting Z3iz3i
Offtopic:

Anyone knows about aud/cad?

Looks like a great short opportunity on DAILY chart with a div and overbought

(tops around 0.9730 - 0.9470)

What do you say?
it may be.....

[AUST] Service sector activity, as measured by AIG's performance of services index (PSI), ground to a halt in December; after seen falling for the 2nd straight mth by 2.5pts to the make or break level of 50.0. Weaker sales and new orders continued to pressure the overall index lower; with survey's measure of new orders, in a bleak outlook for the future, slumping by a sharp 8.6pts on the mth to +48.1. That said the employment subsector; in a positive outlook for the jobs mkt, still managed to rise for the 2nd straight mth, edging further into expansionary territory to +52.6. Softer demand was said to reflect uncertainties over the durability of the economys recovery as well as the impact of rate hikes over the qtr. At the margin it does argue for a pause in RBA's rate tightening cycle, though tomorrows retail sales and next weeks employment figures will be eyed closely.


[AUD/USD] opens this morning largely unchanged from yest's opening around the 0.9115 level after meandering between a high of 0.9175 and a low of 0.9092. Aust new home sales showing a rise of 0.3% m/m gave a slight prop to the pair as it rose to the day's high. Commodities especially gold still at fairly high levels continues to underpin the pair but with risk appetite taking a slight knocked after the release of much worse than expected US pending home sales, a dip back towards support at 0.9042 over the next session or two cannot be ruled out. Aust Nov building approvals which is set to improve over Oct may provide some support as will bids at 0.9070 by Aust exporters. However, offers at 0.9160 by a model and German name will keep the upside protected ahead of the data.
those who can, do. those who cant, talk about those who can
  • #177,678
  • Jan 5, 2010 5:39pm Jan 5, 2010 5:39pm
Quoting gatorinla
i love those double top/bottoms W/M and always look for them...i measure moves.. they tell a story. add in a tl or fib near math and im in...more then doubled account since late nov. with never more then 2% risked and only early in the trade. usaully my sl is pretty tight .20% a pip is not uncommoun (10 pips)...i hate news....

many foreign banks are buying usd lately.. s. korea and brazil and a few others every day lately..
the mistery of gator's math lines

i've already said it but:any chance to know what those lines are?
  • #177,679
  • Jan 5, 2010 5:48pm Jan 5, 2010 5:48pm
Quoting kiadanai
the mistery of gator's math lines

i've already said it but:any chance to know what those lines are?
Wondering myself...they are either 14 or 18 pip apart those green lines...Are they magic number? The market moves according to those lines?

Btw is there a doublebounce 15m ,30m and 1h-chart?
  • #177,680
  • Jan 5, 2010 5:53pm Jan 5, 2010 5:53pm
Quoting Matt99
Wondering myself...they are either 14 or 18 pip apart those green lines...Are they magic number? The market moves according to those lines?

Btw is there a doublebounce 15m ,30m and 1h-chart?
some of them are psych,some are fibs.
other could be murray or fibos or something like that (gann and other mathematical theories based on fractals and so on)but in the end i've no idea.

and i also think that those lines are sort of difficult to use but great at the same time.
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