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Nearly Naked (Simple Trades)

  • #6,101
  • Jul 13, 2010 12:02pm Jul 13, 2010 12:02pm
Quoting Saxon
Did US data do all this?
I went to sleep and look what PA did......
Downgrade of Portugal made everything take a dump before London and then London open started everything up! I have no idea what sparked it.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #6,102
  • Jul 13, 2010 12:10pm Jul 13, 2010 12:10pm
Inserted Video


Quoting Saxon
LIBERATING - Sounds cliché but I will tell you why

[color=#211600]When you trade FX, you are your own boss. You don't have deadlines, you don't have quotas, it is just you and your talent. You are only limited by yourself. This hits home to me for many reasons. I have been all over the financial landscape. Front-Desk, back-desk, middle-desk, you name it, I have been there. All that time I had quotas, bosses, procedures and creativity-limiting rules. My hands were chained by procedure. I left the "corporate" world to do...
Annoying Precision
  • #6,103
  • Jul 13, 2010 12:16pm Jul 13, 2010 12:16pm
Quoting MarcVUM
Downgrade of Portugal made everything take a dump before London and then London open started everything up! I have no idea what sparked it.
That'll teach me to sleep......Shame on my, should have known that sleep is for the weekends
  • #6,104
  • Jul 13, 2010 12:18pm Jul 13, 2010 12:18pm
Quoting MarcVUM
Downgrade of Portugal made everything take a dump before London and then London open started everything up! I have no idea what sparked it.

IMO, as these insolvent nations get downgraded it's perceived as a positive, because bondholders don't want high-quality (low) yields for a low quality (risky) bond. So when ratings and then yields start to align themselves with reality, investors gain confidence.

Though it does put more pressure on the state issuing the bonds, since they'll be paying higher interest on their debt (possibly making it harder to pay the debt at all).
  • #6,105
  • Jul 13, 2010 12:35pm Jul 13, 2010 12:35pm
EU FE 100 and DR1 seemed to do the job for now
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  • #6,106
  • Jul 13, 2010 12:49pm Jul 13, 2010 12:49pm
The train is leaving the station.
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Annoying Precision
  • #6,107
  • Jul 13, 2010 1:08pm Jul 13, 2010 1:08pm
Quoting erikte279
The train is leaving the station.
Nice Charts !!!
  • #6,108
  • Jul 13, 2010 1:50pm Jul 13, 2010 1:50pm
Hey guys,

Are there any longer term traders who use pivots for confirmation/decision support out here?

I'm contemplating adding them to my toolbox, but every time I get a new toy I just end up cluttering up my charts so much I can't even see price.

I can see how they would be useful for scalps. but that's a short road to the poorhouse for me.
  • #6,109
  • Jul 13, 2010 1:54pm Jul 13, 2010 1:54pm
If only they were all like this...
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Annoying Precision
  • #6,110
  • Jul 13, 2010 2:35pm Jul 13, 2010 2:35pm
Quoting Low
Hey guys,

Are there any longer term traders who use pivots for confirmation/decision support out here?

I'm contemplating adding them to my toolbox, but every time I get a new toy I just end up cluttering up my charts so much I can't even see price.

I can see how they would be useful for scalps. but that's a short road to the poorhouse for me.
I use pivots all the time. Not specifically for Long-Term trades, but if they line up with other SR then it helps. Also, S123 and R123 work well too. I use them a lot. Here are 2 different ones you can use. The Tri Pivs is just a backtest Weekly, Daily and Monthly. The other provides SR as well as pivs.
Attached File(s)
File Type: mq4 Tri Pivs.mq4   5 KB | 251 downloads
File Type: mq4 SR WithPivs.mq4   14 KB | 244 downloads
  • #6,111
  • Jul 13, 2010 2:39pm Jul 13, 2010 2:39pm
Quoting Saxon
I use pivots all the time. Not specifically for Long-Term trades, but if they line up with other SR then it helps. Also, S123 and R123 work well too. I use them a lot. Here are 2 different ones you can use. The Tri Pivs is just a backtest Weekly, Daily and Monthly. The other provides SR as well as pivs.
An example. These are by no means Long-Term, but when they line up with other SR then they can cause major friction to the tune of 100+
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  • #6,112
  • Jul 13, 2010 2:42pm Jul 13, 2010 2:42pm
Quoting Saxon
I use pivots all the time. Not specifically for Long-Term trades, but if they line up with other SR then it helps. Also, S123 and R123 work well too. I use them a lot. Here are 2 different ones you can use. The Tri Pivs is just a backtest Weekly, Daily and Monthly. The other provides SR as well as pivs.
Thanks Saxon
  • #6,113
  • Jul 13, 2010 2:42pm Jul 13, 2010 2:42pm
Quoting Low

I can see how they would be useful for scalps. but that's a short road to the poorhouse for me.
you can also incorporate the Monthly Piv and SR
  • #6,114
  • Jul 13, 2010 2:51pm Jul 13, 2010 2:51pm
Hey Tuner, what are we going to do with ourselves now that the world cup is over ?
  • #6,115
  • Jul 13, 2010 3:40pm Jul 13, 2010 3:40pm
Hey Marc,
You watching this?
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  • #6,116
  • Jul 13, 2010 4:12pm Jul 13, 2010 4:12pm
Quoting Saxon
Hey Marc,
You watching this?
Yea. Don't forget that Amy has sell limits at 8865. I'm just watching PA for now until tomorrow. London really pi**ed me off last night. I hate trading London but since I didn't book any trades during the day yesterday I felt it was necessary.

Go back on your A/U M15 to see those wicks at London open. I got burned on one really bad!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #6,117
  • Edited 5:14pm Jul 13, 2010 4:42pm | Edited 5:14pm
Looking at au, I still have my sell orders at 8865 which is the weekly highs. Price has just meet up with the green highs at 8841 and this matches with a 80 pip top but if this 4hr bar closes above 8841 then my sells will be cancelled.

Looking at the dollar index it dosn't really support a top, I have a suspicion that eu is heading back above 1.30 which will probably put pressure on au to rise. If I was at home this week I would be trading longs not shorts but since I have little screen time I am looking for a longterm move.
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  • #6,118
  • Jul 13, 2010 5:04pm Jul 13, 2010 5:04pm
Hi there. I feel same like amy that there is $ weakness and I will not try to sell $ for sure. Many xxx/usd looks bearish but $ index looks bearish to me too. That is real sh*t Probably short term buy $ trades and we will see what will then happen ? What do you think


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  • #6,119
  • Jul 13, 2010 5:07pm Jul 13, 2010 5:07pm
Hey Thread,
Shahab's weekly COT Thread is Shahab-Active again! http://www.forexfactory.com/showthre...16247&page=266
  • #6,120
  • Jul 13, 2010 5:18pm Jul 13, 2010 5:18pm
Quoting atton
Hi there. I feel same like amy that there is $ weakness and I will not try to sell $ for sure. Many xxx/usd looks bearish but $ index looks bearish to me too. That is real sh*t Probably short term buy $ trades and we will see what will then happen ? What do you think


Attachment

I've got DXY0 weekly support @ 82.80.

http://i26.tinypic.com/2yknznm.png

http://i30.tinypic.com/33awb2b.png
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