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  • #250,321
  • May 31, 2010 2:15pm May 31, 2010 2:15pm
Better off cooking some hamburgers and hotdogs on the grill today. Closed half my crud long position from 2400 just for good measure. Market wants up I feel but nothing doing on this bank holiday. It would be easier to sell off on a day like this. Still we see sideways, creating much squeeze on the 1hr BB-should make for some good volatility later.

Hold and forget my half long position til later tonight.
  • #250,322
  • May 31, 2010 2:16pm May 31, 2010 2:16pm
Many ppl asked me what is ADX and what good is it for. Ill try to explain it now.

DX or Directional Movement index is the absolute value of the process called directional moving or direct trending. The absolute value of highs and lows diff and sum makes the first moving average. The second moving average is taken from DX and it represents ADX or average directional movement and its used for determining high/low momentum.

ADX type filter or ATF detects trends and it measure directional movement by identifying congestion region of prices. ADX +DI ,-DI when crisscrossed produce ADX cross. ADX cross gives us a cue when the trend is about to reverse and when the current trend loses its momentum or strenght.

I hope i helped a little by explaining why I use ADX crosses
  • #250,323
  • May 31, 2010 2:20pm May 31, 2010 2:20pm
Quoting T@rantula
I hope i helped a little by explaining why I use ADX crosses
Yeap, I like crosses.. It crosses, - you buy, then it Uncrosses next

5 min, sorry, you lose..

Mean while EU probably going to 1.24 overnight, what a Pig

I just sold it earlier..
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #250,324
  • May 31, 2010 2:22pm May 31, 2010 2:22pm
Quoting SkyzerFX
Yeap, I like crosses.. It crosses you buy, then it Uncrosses next

5 min, sorry, you lose..

Mean while EU probably going to 1.24 overnight, what a Pig

I just sold it earlier..
Hahah I use it on H1 TF
  • #250,325
  • May 31, 2010 2:24pm May 31, 2010 2:24pm
Oops, looks like downtrend in EU is taking first bad signals !! let's see. !!
If it passes through 1.2317, i think going long for al least 50 pips.
No Signal, No Trade. No fundamenals, No headache.
  • #250,326
  • May 31, 2010 2:37pm May 31, 2010 2:37pm
Quoting No Stress
If it passes through 1.2317, i think going long for al least 50 pips.
I'm getting sick of guessing direction.. I'll just sell tops and that's about

it.. Now waiting for Pivot, if it gets there I'll sell.

Then R1 and so on..
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #250,327
  • May 31, 2010 2:41pm May 31, 2010 2:41pm
Quoting SkyzerFX
I'm getting sick of guessing direction.. I'll just sell tops and that's about

it.. Now waiting for Pivot, if it gets there I'll sell.

Then R1 and so on..
Bro, no guessing for winning trade. I'm reading signals and wait for different signals in the same wave to enter a trade. No guess and no entering with only one signal. Tops could be sold but with very tight SL. Hope you did it.
No Signal, No Trade. No fundamenals, No headache.
  • #250,328
  • May 31, 2010 2:47pm May 31, 2010 2:47pm
........... what a Pig......... since I don't eat pork .... I would defiantly be selling this piece a pork here. imo .... I am short.


ut2
  • #250,329
  • May 31, 2010 2:56pm May 31, 2010 2:56pm
Quoting TEB63
if it hits 55 I will go short

teb

This is the usd/cad
1st lot 21 pips
3 lot free trade

cheers

TEB
  • #250,330
  • May 31, 2010 3:02pm May 31, 2010 3:02pm
Quoting TEB63
This is the usd/cad
1st lot 21 pips
3 lot free trade

cheers

TEB
Good job.

For me, conditions changed in UJ at least temporarly. Closed my short and took long. Not yet decided for EU. I like this kind of market.
No Signal, No Trade. No fundamenals, No headache.
  • #250,331
  • May 31, 2010 3:05pm May 31, 2010 3:05pm
FRANKFURT/MADRID (Reuters) - The European Central Bank warned on Monday that euro zone banks face up to 195 billion euros in a "second wave" of potential loan losses over the next 18 months due to the financial crisis, and disclosed it had increased purchases of euro zone government bonds.
A little beginner trader since 2006
  • #250,332
  • May 31, 2010 3:09pm May 31, 2010 3:09pm
5 min eu with hulls moving averages 34 and 50 and cam pivots .... pretty nice.

use for trend then cams or dialy pivot levels for entry and exit ...25 to 30 pip a trade

Attached Image (click to enlarge)
Click to Enlarge Name: chart04d.jpg Size: 112 KB
Blogging daily now at www.volume.zone
  • #250,333
  • May 31, 2010 3:09pm May 31, 2010 3:09pm
Quoting No Stress
Good job.

For me, conditions changed in UJ at least temporarly. Closed my short and took long. Not yet decided for EU. I like this kind of market.

l0l
I hate it ... I think the fact the market is flat
says we will have a big move either tonight or tomorrow.
on all markets


teb
  • #250,334
  • May 31, 2010 3:11pm May 31, 2010 3:11pm
Enough scalping for today. I enjoyed very well this evening with it.
In total of this sideways day, 2 losses, 2 zero pip and 8 winning trades.
There are days better and there are also days worst.
Hope to all of you good trading and good night.
No Signal, No Trade. No fundamenals, No headache.
  • #250,335
  • May 31, 2010 3:12pm May 31, 2010 3:12pm
Quoting No Stress
Bro, no guessing for winning trade. I'm reading signals..
Right, of course no guessing.. If there was a signals, that actually

point to correct direction, then we all be smoking weed and just hitting button Sell or

Buy, based on those signals.. Unfortunately there is about 200 other

conditions/variables besides those signals to make trade profitable or loss.

P.S: Of course scalping.. I hope you can survive longer than a week, scalping..

I saw many scalpers come and go as their accounts got wiped out..
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #250,336
  • May 31, 2010 3:13pm May 31, 2010 3:13pm
Waiting for the market to move clearly, watching the weekly value boundaries for trade placement.

Typical, low vol consolidation today.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD MP 31-05-2010 21-59-10.jpg Size: 139 KB
Getting it right is NOT as important as not getting it wrong.
  • #250,337
  • May 31, 2010 3:14pm May 31, 2010 3:14pm
It is more likely to go up to around 1.2340 or higher, and after that, it might have potentially to go down to around 1.2250
A little beginner trader since 2006
  • #250,338
  • May 31, 2010 3:16pm May 31, 2010 3:16pm
Quoting TEB63
l0l
I hate it ... I think the fact the market is flat
says we will have a big move either tonight or tomorrow.
on all markets


teb
Sure tomorrow will be one of the biggest move trading day. UK and US traders will decide about EU, they were in rest and come with high energy lol
No Signal, No Trade. No fundamenals, No headache.
  • #250,339
  • May 31, 2010 3:20pm May 31, 2010 3:20pm
Quoting No Stress
Good job.

For me, conditions changed in UJ at least temporarly. Closed my short and took long. Not yet decided for EU. I like this kind of market.
Finally, long was right and reading signal for changed conditions was right on UJ. I need to sleep. Forex never do it lol. All trades are closed.

See you on London session. Bye.
No Signal, No Trade. No fundamenals, No headache.
  • #250,340
  • May 31, 2010 3:30pm May 31, 2010 3:30pm
Quoting Naseri13
FRANKFURT/MADRID (Reuters) - The European Central Bank warned on Monday that euro zone banks face up to 195 billion euros in a "second wave" of potential loan losses over the next 18 months due to the financial crisis, and disclosed it had increased purchases of euro zone government bonds.
death roll... there not the only bank. the individual countries guarantee the banks. one is all, and all is one. broke banks buying bonds from broke countries, is just shell game. when the machines are turned off and the tubes are disconnected it will be over. until then death by a thousand cuts..
those who can, do. those who cant, talk about those who can
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