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Technical Analysis Fallacy

  • #16,261
  • Jun 9, 2010 5:21am Jun 9, 2010 5:21am
Quoting markmm
Yeah its dead at that time. Wish I lived in another TimeZone i.e. I arrived hom from work as London opened.
I think, to be (relatively) safe, one needs to have 24 hours free once a trade is made... even that might not be enough sometimes. I mean, what is the EU price now? My trade that I made at like 3-4am might still have been in play.

EDIT: OK, the sites chart thingy works here at college... I would still be in there.
Living the adventure in my head.
  • #16,262
  • Jun 9, 2010 5:39am Jun 9, 2010 5:39am
Quoting Leonlorenzo
I think, to be (relatively) safe, one needs to have 24 hours free once a trade is made... even that might not be enough sometimes. I mean, what is the EU price now? My trade that I made at like 3-4am might still have been in play.

EDIT: OK, the sites chart thingy works here at college... I would still be in there.
I dont think I can make this work for me then. Maybe I need to look at longer term. Strats seems like a good option.
Economists have forecast 9 out of the last 5 recessions
  • #16,263
  • Edited 6:41am Jun 9, 2010 6:15am | Edited 6:41am
Looks like the EUR/USD ran out of gas at 1.1980 area, my short scout will tell the truth

Good trading to all.

Edit: Scout is out at 1.1976 , he didn't do as well as expected.
  • #16,264
  • Jun 9, 2010 6:19am Jun 9, 2010 6:19am
Quoting MyTbo
Looks like the EUR/USD ran out of gas at 1.1980 area, my short scout will tell the truth

Good trading to all.
i'm with you
Success consists of going from failure to failure without loss of enthusiam
  • #16,265
  • Jun 9, 2010 6:37am Jun 9, 2010 6:37am
Quoting markmm
I dont think I can make this work for me then. Maybe I need to look at longer term. Strats seems like a good option.
This is the way for day traders who have lots of time. You can also consider the overnight option (trend following on the larger timeframes).
  • #16,266
  • Jun 9, 2010 6:45am Jun 9, 2010 6:45am
Quoting dongsky
i'm with you
Dongsky, are you still in with your scout?
  • #16,267
  • Jun 9, 2010 6:49am Jun 9, 2010 6:49am
Quoting MyTbo
Dongsky, are you still in with your scout?
killed already, not in the mood for rescue have a good dancing to you.

regards
Success consists of going from failure to failure without loss of enthusiam
  • #16,268
  • Jun 9, 2010 6:54am Jun 9, 2010 6:54am
Grrrr my lagging feed is driving me crazy. Might call it a day soon.
Quite a push up, lets see if it holds.
  • #16,269
  • Jun 9, 2010 7:03am Jun 9, 2010 7:03am
Quoting Setebos
Grrrr my lagging feed is driving me crazy. Might call it a day soon.
Quite a push up, lets see if it holds.
Hi, Setebos. How are you? Did you switch to a new broker already?
Mine has introduced nice things lately. If you're interested I can tell you more about it.

EUR/USD and GBP/USD seem to be pushing higher and flipping seem like a nice pig story to me.

Good trading to all

Regards, MyTbo
  • #16,270
  • Jun 9, 2010 7:14am Jun 9, 2010 7:14am
Quoting MyTbo

EUR/USD and GBP/USD seem to be pushing higher and flipping seem like a nice pig story to me.

Regards, MyTbo
Zoom out a little, and beware of flying flags.

Follow the flow.

regards,
  • #16,271
  • Jun 9, 2010 7:18am Jun 9, 2010 7:18am
Quoting MyTbo
Hi, Setebos. How are you? Did you switch to a new broker already?
Mine has introduced nice things lately. If you're interested I can tell you more about it.

EUR/USD and GBP/USD seem to be pushing higher and flipping seem like a nice pig story to me.

Good trading to all

Regards, MyTbo
Hi MyTbo,

I'm doing fine, thanks, trying to find the right the balance between my full time job (that's coming to and end soon), trading, some personal life and sleeping.
When I come to power I'm gonna make the day at least 26 hours - 24 is just not enough

Haven't switched yet - considering between deltastock (demoed there - very nice) and MIG (getting great feedback from everywhere on these guys).

Markets are green across the table, risk is ON and the greenbag is loosing positions. Lets see what happens when the boys in NY finish their morning coffee

How's your trading going on, did you find your rescue balance?
  • #16,272
  • Edited 8:22am Jun 9, 2010 7:44am | Edited 8:22am
Happy trading day everyone. Hope you are enjoying the pullback opportunity on the euro and pound. I am adding to my long position on the E/$, first entry at 1.1948, one at 1.1965 and the third at 1.1999. Protecting 1.1999. From the charts, the market may be moving higher over the next few days. Let's see how it goes. Back to focus and needing a fresh cup of coffee.

Edit: protecting 1.2007 now
Edit2: all positions square at 1.2025
  • #16,273
  • Jun 9, 2010 7:47am Jun 9, 2010 7:47am
Quoting auxesis
Zoom out a little, and beware of flying flags.

Follow the flow.

regards,
Thanks for reminding me to zoom out,Auxesis. Do you mean the flag formation on the hourly char by "flying flags" ?

@Setebos

I have downsized risk as much as possible and I've put aside skews for now. I rarely try to rescue these days, if wrong I wait for a retracement to kill the position or just try to minimize loss by adding same size position when I feel the move gets exhausted. That's because I screwed up on a rescue a week ago and wasted half of the profits, which I had piled for two weeks, just for several hours. When fti explained me that market maker swings between bid and ask are 20-50 pips I realized that I was entering rescues too early, almost recklessly. Now I'm going slowly.
  • #16,274
  • Jun 9, 2010 8:47am Jun 9, 2010 8:47am
Heads up to anyone who is around: Big Ben is before the US House this morning in about 15 minutes. Things may slow down while they get the initial speaches out of the way. FYI.
  • #16,275
  • Edited 9:48am Jun 9, 2010 9:14am | Edited 9:48am
I am short the E/$ at 1.2042 protecting the entry price.
Edit:square at 1.2038
  • #16,276
  • Jun 9, 2010 9:46am Jun 9, 2010 9:46am
"Do you speak English ?
- Yes!
- Name?
- Abdul al-Rhazib.
- Sex?
- Three to five times a week.
- No, no... I mean male or female?
- Yes, male, female, sometimes camel.
- Holy cow!
- Yes, cow, sheep, animals in general.
- But isnīt that hostile?
- Horse style, doggy style, any style!
- Oh dear!
- No, no! Deer run too fast... "
  • #16,277
  • Jun 9, 2010 10:07am Jun 9, 2010 10:07am
Quoting fti
ya,thanks.
I know some retired big boys, they trades there.(InterbankFX)
so must be quiet decent.

regards
Hello!

Good to see you around!

Hm, I see... Yes, it is interesting for people who live outside the U.S.
because of that:

https://www.ibfx.com/Account/Login.a...obalDebit.aspx

Rgs,

Textor

P.S.: Does anyone, who lives outside the U.S., has experience with this card?
  • #16,278
  • Jun 9, 2010 10:09am Jun 9, 2010 10:09am
squared at 64.
glad that i danced correctly. hauled a little over 100pips today.
  • #16,279
  • Jun 9, 2010 10:32am Jun 9, 2010 10:32am
Quoting jest1081
squared at 64.
glad that i danced correctly. hauled a little over 100pips today.
your statement hurts me...been quite a pig today...amazed at how the slightest distraction threw me off...i guess the loss was offset by the gst package
  • #16,280
  • Jun 9, 2010 11:25am Jun 9, 2010 11:25am
Quoting aiyahmarklah
your statement hurts me...been quite a pig today...amazed at how the slightest distraction threw me off...i guess the loss was offset by the gst package
That makes two of us today, LOL
The shit had developed the annoying habit of always hitting the fan when I'm on my way to the office
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