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  • #192,841
  • Feb 9, 2010 10:02am Feb 9, 2010 10:02am
staying well clear until the carnage is all cleared away :-)
  • #192,842
  • Feb 9, 2010 10:03am Feb 9, 2010 10:03am
Germany's Wilhelm says that no decision has been made on financial assistance to Greece and denied that decision has 'virtually been taken.

From DailyFXTeam
Trade What You See and Not What You Think
  • #192,843
  • Feb 9, 2010 10:04am Feb 9, 2010 10:04am
it seems to me like this...2 men r talking together,did u hear that germany is going to bailout greece (euro goes up),really? asked the other man,but,germany it self has many problems,i dont beleive that it can do much (euro goes down),o.k may be u7 r right,but...germany is strong enough to make things be better ...(euro goes up again)....and so on....they r talking until now
  • #192,844
  • Feb 9, 2010 10:05am Feb 9, 2010 10:05am
Quoting kilalik
how can traders make money on a up down like this, most people are pulling their hairs out, if they have any left, Western Gov't decided to f... the traders out of their accounts today...
Same way we always try to make money. One very common strategy is reversals. We see this on all timeframes from the longest to the shortest. Usually on the larger timeframes people are trying to make several hundred pips to over 1000 over a period of weeks or months. Usually on the smaller timeframes people try to make 1pip to 100pips on this pair depending on time frame (some scalp only..trades last a few seconds to a few minutes....some are intraday trades with trades ranging from tens of minutes to a couple days at the most). Larger timeframes are fueled by news and avoids the chatter, the shorter time frames avoids the news and analyzes the chatter.

What we have here is the news (aka fuels long term) fueling the short term (aka the chatter). Because of this any trading decision is based on the long term but executed in the short term, your task is to just keep with the pace of the market and have pinpoint accuracy spots of resistance and support. Indicators on a day like today are dangerous, then again so is taking trades. If the pace is too fast for you, just watch the show and you will still gain much needed experience.
Different opinions highly valued, ignorant to slander.
  • #192,845
  • Feb 9, 2010 10:05am Feb 9, 2010 10:05am
Quoting Fx Newbie
Germany's Wilhelm says that no decision has been made on financial assistance to Greece and denied that decision has 'virtually been taken.

From DailyFXTeam
lol now i know who has spread the rumors.
Germany has made allot of money today
  • #192,846
  • Feb 9, 2010 10:06am Feb 9, 2010 10:06am
for days like this, i have a huge problem will all the sl theory. it just wipes out all the accounts. i only use sl very tight on 1h canddles when it breaks above or below no more than 10 pips and this is it.for longer time frames i would rather average up or average down with huuuge sl like 1/3 of the account if things get out of hand - such as a huge 500 pips drops. but in my humble opinon sl at 50-60 pips play into the hands of the big guys who can spread rumours or do what they did in the last days of decembe r2009 on low volumes
Andreyou
  • #192,847
  • Feb 9, 2010 10:06am Feb 9, 2010 10:06am
Quoting Mr Hatch
none at all... elections have taken place last autumn, so there's not much to fear right now. those suckers in berlin are slowly enslaving the people.
i think they still have pitchforks in germany.

moving bad debt from point a to point b. is just a shell game. but the sheep will buy it.. its about perception.
those who can, do. those who cant, talk about those who can
  • #192,848
  • Feb 9, 2010 10:06am Feb 9, 2010 10:06am
Should stay under 1.38 and fall.....if not then we test the double top of recent move at 1.3840.
They think they are smarter than I am.
  • #192,849
  • Feb 9, 2010 10:07am Feb 9, 2010 10:07am
Quoting TudorJonesJR
lol now i know who has spread the rumors.
Germany has made allot of money today
Exactly my thoughts.

P.S. It wouldn't surprise me if the US gave Germany this idea...to help the greenback down again. Obama does not want a strong greenback...yet.
Si vis pacem, para bellum.
  • #192,850
  • Feb 9, 2010 10:07am Feb 9, 2010 10:07am
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting mmccormac
LOLOL
NoOne did ask me yet ... Actually the people never gets asked here in Germany.
In the meantime we also had it on TV here. Seems it's not only rumours anymore. FTD (FInancialTimes Deutschland) is quoted in the news.
They are still working on it and nothing decided yet... some more details to follow tomorrow...blabla

I will just watch these crazy moves now

Good luck to everyone of you with that
"Blue Horseshoe loves Anacott Steel!"
  • #192,851
  • Feb 9, 2010 10:07am Feb 9, 2010 10:07am
Quoting TudorJonesJR
lol now i know who has spread the rumors.
Germany has made allot of money today
they will check if they made enough and if not talk a little more and maybe then they will have enough to bail out Greece ...! nice move...!!! heheh....!!!
  • #192,852
  • Feb 9, 2010 10:08am Feb 9, 2010 10:08am
Quoting woo
Can someone plz tell came what is happening?`How can the price be this volatile?

intervention?
markets are thinning out as the UK session players have left. Stops and Entries will get spread out when liquidity drops and price will travel a greater distance to "fill". Things should calm down now for the balance of the day.
Trade Small. Be Patient. Learn to Survive.
  • #192,853
  • Feb 9, 2010 10:09am Feb 9, 2010 10:09am
In times like this, turn off your t.vs and pay no attention to the news wires. Look at your charts. It's all on the 4 hour. Look for a 300+ pip drop from this region. Going into London session.
All that is left in FF is just plain garbage. "Cloggie"
  • #192,854
  • Edited 11:35am Feb 9, 2010 10:09am | Edited 11:35am
Quoting Mr Hatch
you know, you shouldn't be doing this...?
since London open no SL at all 2 longs 10 shorts (3 shorts positions to close) taking profit
  • #192,855
  • Feb 9, 2010 10:11am Feb 9, 2010 10:11am
My post seconds before the dropped and my comment just afterwards..
http://www.forexfactory.com/showpost...stcount=192825
One good turn gets most of the blankets.
  • #192,856
  • Feb 9, 2010 10:11am Feb 9, 2010 10:11am
Quoting woo
Im a scalper, highly leveraged. Im just afraid, i dont know how to circumvent this.

My analyis, on how to avoid this is:

Get out, when i see big volatility in price. For instance when price jumps 2 pips, 3 pips.

Be very wary when i see crazy overal volatily.
right on. the scalper is better off trading volatility that is somewhat predictable - breakouts, scheduled news, etc. Best to stand aside when these unannounced Big Dog moves are going down.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #192,857
  • Feb 9, 2010 10:11am Feb 9, 2010 10:11am
Quoting smokemachine
they will check if they made enough and if not talk a little more and maybe then they will have enough to bail out Greece ...! nice move...!!! heheh....!!!
actually they have already done it..
the denial. germany are pocketing both ways. grrrrr
  • #192,858
  • Edited 10:25am Feb 9, 2010 10:12am | Edited 10:25am
market moved so fast & unexpected and unfortunately closed longs so early in busy time & actually placed l short at 1.3754 & later took loss , if this is the stop of the upmove by 1.3849 most likely then it again to go down for new bottom & end wave C /3 but if anyway go above then wave 3/C is over & may go more up 1.4042 towards 1.4210 before any further down, to me very unlikely. anyway wait for next short after seeing some action at the top.
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #192,859
  • Feb 9, 2010 10:12am Feb 9, 2010 10:12am
Well Per Gators post as of a few days ago "1.42XX was the best shorting price maybe for then next few weeks or even months"
I suggest if you are inline with those thoughts now is your chance to get back on that train, Gator correct me if i am wrong with that quote....
  • #192,860
  • Feb 9, 2010 10:12am Feb 9, 2010 10:12am
Quoting cunha
if you check 1H tf you'll it hit 200EMA before droping...

Im sure many traders saw that.. news aren't everything.

I shorted @ 3795..
i'M SHORT too after i grabbed 30 pips on the way up then i shorted @ 3835... but it's all BS moves... waiting to hit my tp at 3733
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