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  • #206,621
  • Mar 4, 2010 10:19am Mar 4, 2010 10:19am
Quoting mr.fibo
Hmm, can someone tell me why e/u went bearish despite bad US news and Greece's positive actions on crisis ?
I think the main idea is that US is a safehaven currency and the bad US housing number sparked flight from risk.
  • #206,622
  • Mar 4, 2010 10:19am Mar 4, 2010 10:19am
Quoting acumen
The market is reactive during major news events.

Who knows how the banks interpret all the variables.

As a retail trader it's best to sit on your hands until all the news is out and digested.

Trading before or during tier one news event is a suckers game.

Mike
Mr. Acumen, I see you're still doing your thing.
All that is left in FF is just plain garbage. "Cloggie"
  • #206,623
  • Mar 4, 2010 10:20am Mar 4, 2010 10:20am
Quoting acumen
The market is reactive during major news events.

Who knows how the banks interpret all the variables.

As a retail trader it's best to sit on your hands until all the news is out and digested.

Trading before or during tier one news event is a suckers game.

Mike
Thanks for the quick answer. So best not to trade during that period... At least before I get some more experience...
  • #206,624
  • Mar 4, 2010 10:21am Mar 4, 2010 10:21am
Quoting acumen
The market is reactive during major news events.

Who knows how the banks interpret all the variables.

As a retail trader it's best to sit on your hands until all the news is out and digested.

Trading before or during tier one news event is a suckers game.

Mike
suckers game banked me lotsa $$ with classical textbook down moves.. banked after trend line broke yep and now its up again.
  • #206,625
  • Mar 4, 2010 10:23am Mar 4, 2010 10:23am
Quoting yunielescaz
suckers game banked me lotsa $$ with classical textbook down moves.. banked after trend line broke yep and now its up again.
you will lose trading the news.

one good day a trader does not make.

m
  • #206,626
  • Mar 4, 2010 10:24am Mar 4, 2010 10:24am
Maybe , maybe not I made quite a few pips on this news with a straddle trade today..I could have made more if I scalp but for some reason I always loose at scalping so I do not scalp but as far as positioning for a little breakout that's easy money to me..
Dean


Quoting acumen
The market is reactive during major news events.

Who knows how the banks interpret all the variables.

As a retail trader it's best to sit on your hands until all the news is out and digested.

Trading before or during tier one news event is a suckers game.

Mike
  • #206,627
  • Mar 4, 2010 10:26am Mar 4, 2010 10:26am
Quoting mr.fibo
Thanks for the quick answer. So best not to trade during that period... At least before I get some more experience...
keep in mind we are peasants in this game.

this ain't the stock market.

jump on only after the elephant has picked his direction or get trampled.

m
  • #206,628
  • Mar 4, 2010 10:28am Mar 4, 2010 10:28am
Quoting tonyo524
Mr. Acumen, I see you're still doing your thing.
i love this game.

it's like chess.

m
  • #206,629
  • Mar 4, 2010 10:30am Mar 4, 2010 10:30am
lol. You should read Ak's comment on his profile (the 2%part). Yes the price is suck this 2 days.

Quoting mr.fibo
Thanks for the quick answer. So best not to trade during that period... At least before I get some more experience...
Manage your risk accordingly and you're half done your home work.
  • #206,630
  • Mar 4, 2010 10:30am Mar 4, 2010 10:30am
Bull or Bear? Impossible to tell if time frame is unknown. But main weekly trend is down no doubt. What helps to see overall picture is monthly chart, if in a downtrend keep an eye on preservation of monthly bar's high, so far this month we are just retracing within February range. Also marking key economic events on EUR/USD chart both concerning Euro & USD will help see how those news are interpreted by major players, as our own opinion is irrelevant.
Prices oscillate, trends persist. Trend is your friend.
  • #206,631
  • Mar 4, 2010 10:33am Mar 4, 2010 10:33am
I am with you brother all the way I posted yesterday here my little simple system for news trading..so far this year I am at 63%..
People love to say your day will come but here's the deal in all of Forex trading the key thing you need to do is build up your account, its really simple I have one account just for the news by being up 63% for almost a year now thats a lot of money so it would take more than just a big hit to even get me back to 50%..thats how I play the game. I really only know a little about TA or fundmentals and be the first to admit that.However I do know how to play to win and keep winning..if you do not know how to play Forex it will kill you no matter how good you are at predicting the market IMO
Dean




Quoting yunielescaz
suckers game banked me lotsa $$ with classical textbook down moves.. banked after trend line broke yep and now its up again.
  • #206,632
  • Mar 4, 2010 10:34am Mar 4, 2010 10:34am
Quoting mr.fibo
Hmm, can someone tell me why e/u went bearish despite bad US news and Greece's positive actions on crisis ?

The euro also fell after German Chancellor Angela Merkel said a meeting tomorrow with Greek Prime Minister George Papandreou won’t focus on “aid commitments.” Merkel faces domestic opposition to tapping taxpayers to bail out Greece. Demonstrators occupied the Greek finance ministry today to protest planned budget cuts.
  • #206,633
  • Mar 4, 2010 10:35am Mar 4, 2010 10:35am
i can honestly state - based on this week's experience and pa - mr. market doesn't like mr. hatch
  • #206,634
  • Mar 4, 2010 10:36am Mar 4, 2010 10:36am
question , if u put the euro index and the usd index together , is this the direct output of eurusd activity ? or are there other factors like eurx+usdx+gold+.. = eurusd?
  • #206,635
  • Mar 4, 2010 10:38am Mar 4, 2010 10:38am
Quoting Trading Cat
look at GOLD!1128 and got in short 87 sl max3625 tp 3550 but I will decide once there.
ok I did bail out a little early and as I write here goes my tp hahaha nice one anyways got 19pips but was not so comfortable with the retrace towards s1.
It all aint matter as another day positive pips that what its all for.
This said I will dog my dog to do the big job and get myself a beer.
Not sure If I take another position tonight, but as usual time and price will tell.
Trade on your own risk Plan your trade&trade your plan dont be a
  • #206,636
  • Mar 4, 2010 10:38am Mar 4, 2010 10:38am
60 odd pip more and i'll be in positive on my short....... keep going
loss 100k in Forex, up 1k, still have 99% to go!!
  • #206,637
  • Mar 4, 2010 10:40am Mar 4, 2010 10:40am
Still a bit puzzeling why the yen is not strengthening... sometimes it just has a mind of its own.
  • #206,638
  • Mar 4, 2010 10:42am Mar 4, 2010 10:42am
hope the pips has gone to your bags...........
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  • #206,639
  • Mar 4, 2010 10:43am Mar 4, 2010 10:43am
didn't someone point out that yen is also a safe haven when risk appears kind regards
Quoting FX-Petra
Still a bit puzzeling why the yen is not strengthening... sometimes it just has a mind of its own.
  • #206,640
  • Mar 4, 2010 10:43am Mar 4, 2010 10:43am
Quoting iefke
question , if u put the euro index and the usd index together , is this the direct output of eurusd activity ? or are there other factors like eurx+usdx+gold+.. = eurusd?
yes and no, usd index includes other currencies in it, so oscillations will not be mirrored always, but if USD index is in a bull trend, then Euro is in a bear trend.
Prices oscillate, trends persist. Trend is your friend.
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