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  • #208,241
  • Mar 8, 2010 5:27pm Mar 8, 2010 5:27pm
my big chart has a s/r at 3559.. next chart says 3560 is a mid once this one @ (3515) completes. it takes us to a new low 3416 plus slip. 3400 sounds better but maybe we rest/bounce above before next plunge. as long as we get no new high were safe..
those who can, do. those who cant, talk about those who can
  • #208,242
  • Mar 8, 2010 5:32pm Mar 8, 2010 5:32pm
Quoting gatorinla
put them on your chart. when we get to the last plus slip we bounce.. add the other s/r and daily weekly fibs to your chart. sit back relax and study. then you will have all the answers to the question. watch the flow..watch the flow when it fails.. its just as important.
you make this look so amazingly easy - and i'm spending just about a week now just trying to figure out how to get started calculating.
  • #208,243
  • Mar 8, 2010 5:37pm Mar 8, 2010 5:37pm
Quoting grandpost
What happened? Nobody has answers? Helpful Ones?
I was just having a discussion about this over on elitetrader a few days ago. Guy says it's impossible to make over 20% a year consistently. All I could do was laugh. So compared to that type of expectation I make "insane profits", at least in my trading account.
  • #208,244
  • Mar 8, 2010 5:38pm Mar 8, 2010 5:38pm
Quoting grandpost
What happened? Nobody has answers? Helpful Ones?
If u are new to trading. Just plan on dedicating thousands of hours to it. No body is probably gonna tell u how much they have made. I have made only 10 thousand in the past three months. That was beginning with a 5k account
  • #208,245
  • Mar 8, 2010 5:39pm Mar 8, 2010 5:39pm
Quoting Protogenos
I was just having a discussion about this over on elitetrader a few days ago. Guy says it's impossible to make over 20% a year consistently. All I could do was laugh. So compared to that type of expectation I make "insane profits", at least in my trading account.
how many years do you trade with a result > 20%?
  • #208,246
  • Mar 8, 2010 5:42pm Mar 8, 2010 5:42pm
why it takes so long to drop jump of the cliff got them euro
s/r 1.35994
  • #208,247
  • Mar 8, 2010 5:42pm Mar 8, 2010 5:42pm
Quoting Mr Hatch
how many years do you trade with a result > 20%?
Two, but I make 20-30 trades per day, so the sample size is much larger than say a swing or long term trader
  • #208,248
  • Mar 8, 2010 5:46pm Mar 8, 2010 5:46pm
Quoting Protogenos
I was just having a discussion about this over on elitetrader a few days ago. Guy says it's impossible to make over 20% a year consistently. All I could do was laugh. So compared to that type of expectation I make "insane profits", at least in my trading account.
*S*
those who can, do. those who cant, talk about those who can
  • #208,249
  • Mar 8, 2010 5:48pm Mar 8, 2010 5:48pm
Quoting fabreu30
why it takes so long to drop jump of the cliff got them euro
s/r 1.35994
we bounced off of 1.3609 the third time already. there is a small wall in front of the cliff
  • #208,250
  • Mar 8, 2010 5:48pm Mar 8, 2010 5:48pm
Quoting spivvster
If u are new to trading. Just plan on dedicating thousands of hours to it. No body is probably gonna tell u how much they have made. I have made only 10 thousand in the past three months. That was beginning with a 5k account
Exactly. It isn't going to help anyone to know how much the next guy made last year. Just look at the charts that the senior members post...they're not gonna spoon feed a bunch of people they don't even know...hello!

By looking at their charts, read up on daily, weekly, monthly support/resistance. Use the fibo S/R levels too. If there's confluence even better and you know you're on to a level.

If you like one of the guys methods on here, try posting a chart. Post the chart with your own lines but try and figure out where they are coming up with their lines on your own. Then post it and if you might even see that you're closer than you think.

The hard part imo isn't calculating any lines or anything( we're just talking addition, subtraction, multiplication and division). The hard part is WAITING for the PA at your lines or whoevers lines you're using and WAITING for the price to react.

I find this very hard for myself too, in feeling like I'm "missing out" on a good trade. Just wait. We are getting close to weekly pivot at about 3600(3596 exact).

If you want to see how a line works, let the price pass through the weekly pivot..when it comes back to it, short it for a few pips or more.
  • #208,251
  • Mar 8, 2010 5:50pm Mar 8, 2010 5:50pm
Quoting uraceulose

The hard part imo isn't calculating any lines or anything( we're just talking addition, subtraction, multiplication and division). The hard part is WAITING for the PA at your lines or whoevers lines you're using and WAITING for the price to react.

I find this very hard for myself too, in feeling like I'm "missing out" on a good trade. Just wait. We are getting close to weekly pivot at about 3600(3596 exact).
This is exactly what it took for me to become profitable; learning patience.
  • #208,252
  • Mar 8, 2010 5:53pm Mar 8, 2010 5:53pm
Quoting gatorinla
my big chart has a s/r at 3559.. next chart says 3560 is a mid once this one @ (3515) completes. it takes us to a new low 3416 plus slip. 3400 sounds better but maybe we rest/bounce above before next plunge. as long as we get no new high were safe..

Thanks Gator...I'll try and watch this more....

I entered a Short at 3630 and followed it to 3609...I figured once we hit here we bounce up to one of your s/r levels...like 3620d but it went up a littler farther....

I closed because I didnt know how far up this would bounce.....

Now I'm confused again....you say once 3515 completes then 3560 is a mid??? What does this mean? We are not there yet so does this mean we go to 3560 first obviously...then bounce up then down to 3515?
It may bounce there but if not it goes to 3415?

Just trying to understand these bounces....


And what time frame do you use to see something complete? 1hr or 15m chart?

Sorry I'm a little or alot confused? Thanks
  • #208,253
  • Mar 8, 2010 5:55pm Mar 8, 2010 5:55pm
And I just want to add to my post the reason that I say that it really don't matter what they make to you is because...

the person who your "using" their advice for one could be just trading demo, 2) they could be trading for 100 bucks/pip where you/me at 50 cents...they're out after 10 pips with a grand and you're waiting for this big move based on someone elses number that you don't even know how it works.
  • #208,254
  • Mar 8, 2010 6:05pm Mar 8, 2010 6:05pm
Quoting Protogenos
This is exactly what it took for me to become profitable; learning patience.
the less exciting the trading goes, the more profitable.
  • #208,255
  • Mar 8, 2010 6:08pm Mar 8, 2010 6:08pm
Quoting Protogenos
I was just having a discussion about this over on elitetrader a few days ago. Guy says it's impossible to make over 20% a year consistently. All I could do was laugh. So compared to that type of expectation I make "insane profits", at least in my trading account.
Yeah, for some people that might be an insane amount of profit. Not for me though. I know a few traders who make much more than 100% of their starting capital from the start of the year.

He deposited 75k-100k in January, begin trading in February and reach 300-400k around october/november and he will withdraw all before december. Don't ask me why he withdraw everything. But that was his pattern for the last couple of years.
  • #208,256
  • Mar 8, 2010 6:17pm Mar 8, 2010 6:17pm
Quoting IMARICH1
Thanks Gator...I'll try and watch this more....

I entered a Short at 3630 and followed it to 3609...I figured once we hit here we bounce up to one of your s/r levels...like 3620d but it went up a littler farther....

I closed because I didnt know how far up this would bounce.....

Now I'm confused again....you say once 3515 completes then 3560 is a mid??? What does this mean? We are not there yet so does this mean we go to 3560 first obviously...then bounce up then down to 3515?
It may bounce there but if not it goes to 3415?

Just trying to...
you got small charts inside bigger charts. the target is where pair wants to go. the baby chart has reached mid and wants to complete path. on the way you got a bigger chart with strong s/r such as 3644 3622 3559..and so on. plus your daily p/p's. baby chart completes at 3515.. respect of other mids on the way down will show whether or not they are in play.

draw some fibs of the move up. thats bull numbers. lack of respect of bull numbers tell a story. or visa versa

cosolidation sucks because s/r lines get clutered. once chart is complete at that level becomes s/r .. the bigger the chart the stronger the levels. i like to think its because the big boys play the big charts.

its all garbage with new high.
those who can, do. those who cant, talk about those who can
  • #208,257
  • Mar 8, 2010 6:23pm Mar 8, 2010 6:23pm
Okay,....That makes sense! Thanks for the help!
  • #208,258
  • Mar 8, 2010 6:27pm Mar 8, 2010 6:27pm
Quoting IMARICH1
Okay,....That makes sense! Thanks for the help!
when pa stops at a level i have and there are no other reasons. such as a tl daily wk month pp/s/r.. i like to think big boys and i are on the same page. you have to think like they do.
those who can, do. those who cant, talk about those who can
  • #208,259
  • Mar 8, 2010 6:29pm Mar 8, 2010 6:29pm
For the last few days, Asian central banks across the region have been intervening in currency markets, buying USD and trying to stem the rise of their local currencies. Amounts will vary from currency to currency but the overall amount is easily in excess of USD1 billion a day and probably a lot more than [...]
Let us be green
  • #208,260
  • Mar 8, 2010 6:32pm Mar 8, 2010 6:32pm
This is tough, what is going to be the general trend for EUR? Is it still downtrend?

Who is seeing $1.31 as a target?
who is seeing $1.39 as a target.
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