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  • #178,621
  • Jan 7, 2010 9:17pm Jan 7, 2010 9:17pm
Quoting hnosair
some of us are scalping with bigger lots

and ? trading with bigger lots does not mean that you will move the market in counter trend and make bottom reversals... that is unless your name is George
Blogging daily now at www.volume.zone
  • #178,622
  • Jan 7, 2010 9:20pm Jan 7, 2010 9:20pm
what do you think Malcolm. Up or down
Disclaimer: Check your 1m charts
  • #178,623
  • Jan 7, 2010 9:22pm Jan 7, 2010 9:22pm
Quoting grashid
Maybe I dunno how to read my chart..but this is how i read it...

Still have room for and upmove even to 1.44 area...

Good luck all
Yes.it's quite probable, to see a one more wave up and one down by completing 'C'. but past few days were crappy , hence we might not see that wave. but only time will tell. we only can forcast. nothing is cast in stone
Fools Rushing
  • #178,624
  • Jan 7, 2010 9:27pm Jan 7, 2010 9:27pm
Quoting jaboo
question about NFP as this will be the first time i'll be trading it.

I signed up for Wayne Mcdonnels trade NFP on fxstreet just a minute ago so im gonna listen to what he says but i have a question for this community.

If tomorrow numbers are much better than expected and this report is an indicator on how the economic health of this country is doing wouldnt it then bring risk appitite back into the markets and we would see a rally in the stock market, selling of treasuries and therefore the dollar would lose strength as other people, such as...
jaboo.

news trading is a complete load of rubbish.....(sorry to say that and I will ask any one who says they have made millions off trading the news to prove it )

The emails you get are just saying they make this n that trading news , I get spammed every day.

Reality prices gap , I have seen a trade move 100 pip in 2 seconds and before you even get fill you are at top of reversal move , when it comes down 100 pip the next.

seriously trading the news is a sure way to lose money NO MATTER WHAT ANY SAYS.

Now trading the reaction to the news ...... that is the way to do it , remember pros will play with you every opportunity they get. They will steal your money in a heart beat. Think that pros do not already know the news several , if not even the day before it comes out. They are not sitting there like us lot at forexfactory watching the forex factory calender.

In order to profit off the news watch what happens AFTER the news announcement.

Remember Greece news at end of asia session the other day ? euro got marked down hard and everyone one was screaming SHOOORRRTTT 500 pip or something. Want to know what really happened ? check chart

Pros only buy weakness and sell strength. They will be the ones you are trading aginast if news spikes a pair and you see ultra hihg volume on a move up. YOur few lots against billions ... who will win ?

the amount of times i have sold good news and bought bad news ( including greece news the other day ) and made good $$$ is unreal.

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  • #178,625
  • Jan 7, 2010 9:29pm Jan 7, 2010 9:29pm
Quoting pipper
what do you think Malcolm. Up or down
could be accumulation thru 1.4300 , testing that demand level we saw on the bad Greece news the other day.

I would love to see a break down as i have a swing trade sell position.

However this 1.4300 area is strong support
Blogging daily now at www.volume.zone
  • #178,626
  • Jan 7, 2010 9:29pm Jan 7, 2010 9:29pm
Quoting wwwin
The trend is not important to scalpers, timing is what is important. Timely scalpers can make a killing against the trend, and bad scalpers can lose their shirt going with the trend. Timing is everything a scalper needs. And trends change, if you enter the trend at the end of the trend you lose.

Sir, thanks for your insight, but i am not clear about one thing. how can u win if you do not know the trend. even if your scapler/short term/mid term or a long term trader. main trend can be either way. right .. but what i been taught from my teachers were ,if i follow the trend(SHORT Term) even if your scalper. you will win. Am i missing something which i can learn from you , i would really glad to hear it,

Thanks in Advance.
Fools Rushing
  • #178,627
  • Jan 7, 2010 9:35pm Jan 7, 2010 9:35pm
Quoting malcolmb14
and ? trading with bigger lots does not mean that you will move the market in counter trend and make bottom reversals... that is unless your name is George
.. nice opinion

hows life mate?
  • #178,628
  • Jan 7, 2010 9:43pm Jan 7, 2010 9:43pm
Quoting jaboo
question about NFP as this will be the first time i'll be trading it.

I signed up for Wayne Mcdonnels trade NFP on fxstreet just a minute ago so im gonna listen to what he says but i have a question for this community.

If tomorrow numbers are much better than expected and this report is an indicator on how the economic health of this country is doing wouldnt it then bring risk appitite back into the markets and we would see a rally in the stock market, selling of treasuries and therefore the dollar would lose strength as other people, such...
When interest rates begin to rise, cost of capital increases, and from this level you're talking about relatively large % increase which will cut disproportionately into already thin profits..."risk" stock market negative. That's why the Fed has kept rates low - to allow banks to firm their balance sheets over several quarters. If the financial sector can stabilize and begin lending again then the economy may begin to grow again. If the Fed hikes too soon - the prospects for a recovery may be stunted. Tricky business, but the the bond market is likely to sell off before the Fed does anything - that may kill the market rally tomorrow or next week. In the mainstream media, it will be said that investors "sold on the news." ANYWAY - tomorrows NFP is going to be one the biggest, most highly anticipated numbers in quite some time. I will have one or two small positions open when the number hits - way too volatile to gamble either way on.
  • #178,629
  • Jan 7, 2010 9:45pm Jan 7, 2010 9:45pm
Quoting MTF Test
Yes.it's quite probable, to see a one more wave up and one down by completing 'C'. but past few days were crappy , hence we might not see that wave. but only time will tell. we only can forcast. nothing is cast in stone
  • #178,630
  • Jan 7, 2010 9:46pm Jan 7, 2010 9:46pm
Quoting MTF Test
Sir, thanks for your insight, but i am not clear about one thing. how can u win if you do not know the trend. even if your scapler/short term/mid term or a long term trader. main trend can be either way. right .. but what i been taught from my teachers were ,if i follow the trend(SHORT Term) even if your scalper. you will win. Am i missing something which i can learn from you , i would really glad to hear it,

Thanks in Advance.

real scalpers are called scalpers for a reason .

A person trading in the equities or options and futures market who holds a position for a very short period of time, attempting to make money off of the bid-ask spread.

Those in ff that call themselves scalpers are really short term day traders

They can trade small ranges , small trends ( ie retracements on flags etc ) . The best way even to make money day trading is to trade with the trend as you say. I use value area. If price is below prior days value area then I sell only. If above look for buy dips and if comes into prior days value form below I will go long with stop just under the prior days value area


I know one guy who would do very well but insists on day trading against the trend and makes only a small amount of profit compared to what he could make in a year.
Blogging daily now at www.volume.zone
  • #178,631
  • Jan 7, 2010 9:51pm Jan 7, 2010 9:51pm
Quoting grashid
.. nice opinion

hows life mate?
good .... cannot wait till this week is over. Really a news heavy week and no good moves in my trading time ( us session)
Blogging daily now at www.volume.zone
  • #178,632
  • Jan 7, 2010 9:51pm Jan 7, 2010 9:51pm
Quoting gatorinla
long at 04 trying for 15pips tight sl half normal position.. will re-short after..
closed +8 short again 4317
those who can, do. those who cant, talk about those who can
  • #178,633
  • Jan 7, 2010 9:54pm Jan 7, 2010 9:54pm
[quote=malcolmb14;3349025]jaboo


Pros only buy weakness and sell strength.



This Idiotic so called Pro is doing it wrong for the past 15 years with BUYING STRENGTH AND SELLING WEAKNESS............All those monies that one loses for all these years....AND worst still if one never learns....

Welcome back to FF ..Pros(sic) and ALLS......
  • #178,634
  • Jan 7, 2010 9:59pm Jan 7, 2010 9:59pm
Quoting malcolmb14
real scalpers are called scalpers for a reason .

A person trading in the equities or options and futures market who holds a position for a very short period of time, attempting to make money off of the bid-ask spread.

Those in ff that call themselves scalpers are really short term day traders

They can trade small ranges , small trends ( ie retracements on flags etc ) . The best way even to make money day trading is to trade with the trend as you say. I use value area. If price is below prior days value area then I sell only. If above look...

Thanks for the reply
Fools Rushing
  • #178,635
  • Jan 7, 2010 10:03pm Jan 7, 2010 10:03pm
Quoting malcolmb14
good .... cannot wait till this week is over. Really a news heavy week and no good moves in my trading time ( us session)
am taking off wed & yesterday after some good movement on Mon-Tue.
Perhap NFP could be the start....
  • #178,636
  • Jan 7, 2010 10:07pm Jan 7, 2010 10:07pm
car sales must love you ....

you walk into the show room and offer them 20 k for a car they have at a sticker price of 15k .

This is what I meant by pros buy weakness. Look at the chart on the Greece bad news ... pretty easy to go long on that as price dropped 70 pip and stalled on massive volume.

[quote=99vt66;3349063]
Quoting malcolmb14
jaboo


Pros only buy weakness and sell strength.



This Idiotic so called Pro is doing it wrong for the past 15 years with BUYING STRENGTH AND SELLING WEAKNESS............All those monies that one loses for all these years....AND worst still if one never learns....

Welcome back to FF ..Pros(sic) and ALLS......
Blogging daily now at www.volume.zone
  • #178,637
  • Jan 7, 2010 10:11pm Jan 7, 2010 10:11pm
short with sl of 16 pips @ tline shown t1 16 t2 40 t3 60 at t1 move sl to be . trend line trade
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  • #178,638
  • Jan 7, 2010 10:12pm Jan 7, 2010 10:12pm
Quoting malcolmb14
real scalpers are called scalpers for a reason .

A person trading in the equities or options and futures market who holds a position for a very short period of time, attempting to make money off of the bid-ask spread.

Those in ff that call themselves scalpers are really short term day traders

They can trade small ranges , small trends ( ie retracements on flags etc ) . The best way even to make money day trading is to trade with the trend as you say. I use value area. If price is below prior days value area then I sell only. If above look...
I like your viewpoint Malcomb and just wanted to know how you calculate the prior days value, as I've seen quite a few traders coming up with varying numbers for the value...I persoly will use a variety of ways to determine key areas including retracement levels along with supply/demand imbalance to determine entries....thx in advance.
  • #178,639
  • Jan 7, 2010 10:14pm Jan 7, 2010 10:14pm
Quoting grashid
am taking off wed & yesterday after some good movement on Mon-Tue.
Perhap NFP could be the start....
Hi, I am new to forex. Can I ask what will be the impact of a non-farm payroll release news? A higher payroll will lead to a stronger USD? Is this always the case?

Thank you for the clarification.
  • #178,640
  • Jan 7, 2010 10:16pm Jan 7, 2010 10:16pm
Traders,

EU will shoot either side///// soon, ////with very low risk. try a OCO order if possible,

God bless u all !!
Fools Rushing
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