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  • #305,101
  • Oct 12, 2010 12:24pm Oct 12, 2010 12:24pm
forbes55 , i think the market will go down around 1.3823 again
  • #305,102
  • Edited 1:31pm Oct 12, 2010 12:30pm | Edited 1:31pm
There seems to be a long term working edge on EU:

 

  1. IF it exceeds previous day's low or high by more than a third of its range
  2. AND then it breaks into previous day's range by more than 5 pips
  3. THEN it will likely close the day in the re-break direction

If condition 1 is met, place a buy stop order 5 pips above yesterday's low or a sell stop order 5 pips below yesterday's high. No SL, no TP. Daily close is your SL/TP. If a trade was triggered, close it at the end of the day. If not, delete the pending order. That's all.

Last decade backtest (max dd 7.35%):

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:-anything
  • #305,103
  • Oct 12, 2010 12:32pm Oct 12, 2010 12:32pm
Quoting goods
WHat has price been doing since sunday? Perhaps everything is built into price and again I will stand behind a pullback on eu.
So you mean it's a pullback ready to shoot an arrow ?

And you will stand behind the archer?
making green pips large and red pips small this is my goal.
  • #305,104
  • Oct 12, 2010 12:34pm Oct 12, 2010 12:34pm
The market could go anywhere now, just got to wait and see.

A play down of QE2 = dollar positive-ish

Full on QE2 = Shit, dollar is "BEEEEP"!
Trade the price action, not the cash!!!
  • #305,105
  • Oct 12, 2010 12:39pm Oct 12, 2010 12:39pm
Quoting techno79
Anyone have an issue where they close short term trades ONE bar too early everytime, and then it massively would've went their way?

I don't know if I'm prudent or impatient. I knew it was consolidating to a breakout, hence dropping volume, but UGH, got 1 instead 25 points.

It's not that I close too early in profit, it's that I close when I decide there's no movement or momentum so it's not worth the wait and risk.

OTOH, with FOMC data etc, I could've been prudent and done nothing wrong. :/
Patience on entry and patience on exit. Also, I like to have an idea of my initial tp before pulling the trigger, hope that helps... Also, what a lot of people do is once the trade has moved in your direction by 20 pips, automatically close half and move stop to break even, then you're in profit and it's a free trade, it takes all the psychological pressure away...
  • #305,106
  • Oct 12, 2010 12:40pm Oct 12, 2010 12:40pm
scalping to tough if not taken out profit timely . anyway again chances up with the extension of neck of the baby if before short ,
fontu
Attached Image (click to enlarge)
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #305,107
  • Oct 12, 2010 12:43pm Oct 12, 2010 12:43pm
Quoting Forbes55
now going up
Yeah, it has to go up, at least up to 13916 right before the meeting, and then.......
  • #305,108
  • Oct 12, 2010 12:43pm Oct 12, 2010 12:43pm
I expect a down move 1st and then a nice bull tomorrow in london session.
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  • #305,109
  • Oct 12, 2010 12:46pm Oct 12, 2010 12:46pm
bears should win the next fight coming soon.
  • #305,110
  • Oct 12, 2010 12:46pm Oct 12, 2010 12:46pm
Quoting infinitus
Yeah, it has to go up, at least up to 13916 right before the meeting, and then.......
Out of interest, why do you think it has to go to 13916?
Trade the price action, not the cash!!!
  • #305,111
  • Oct 12, 2010 12:47pm Oct 12, 2010 12:47pm
Quoting Scullmeister
Out of interest, why do you think it has to go to 13916?
Its a cool MM level when you look at 15min timeframe

and

a support that should turn into a resistance.. SHOULD
  • #305,112
  • Oct 12, 2010 12:49pm Oct 12, 2010 12:49pm
Quoting sibajnok
bears should win the next fight coming soon.
FOMC minutes... "speaks" and the market will listen
  • #305,113
  • Oct 12, 2010 12:49pm Oct 12, 2010 12:49pm
Quoting Predi
Its a cool MM level when you look at 15min timeframe

and

a support that should turn into a resistance.. SHOULD
Ok, but i can't see it reaching that before the news is released, it's in 10 mins isn't it? I could be wrong, but at the moment, i don't think so.
Trade the price action, not the cash!!!
  • #305,114
  • Oct 12, 2010 12:51pm Oct 12, 2010 12:51pm
Seeing as how we have had all this talk about QE2, and a huge rally I wonder what the catalyst for higher prices will be.
Look Sharp/Trade Tight
  • #305,115
  • Oct 12, 2010 12:54pm Oct 12, 2010 12:54pm
Quoting FibbinArchie
Patience on entry and patience on exit. Also, I like to have an idea of my initial tp before pulling the trigger, hope that helps... Also, what a lot of people do is once the trade has moved in your direction by 20 pips, automatically close half and move stop to break even, then you're in profit and it's a free trade, it takes all the psychological pressure away...
Thanks, I've been trying to get into trades where I can trail my stop. Or do the "two lot" setup, take profit on half of the trade and let the other half go.

I keep getting into these "scalps" that take 2 hours or so to move. Ends up monopolizing my time more than my long term trading. And amazingly after hours, I always close out the moment before they move. Very frequently.
  • #305,116
  • Oct 12, 2010 12:55pm Oct 12, 2010 12:55pm
Ok so am i correct hawkish= eur/usd down
making green pips large and red pips small this is my goal.
  • #305,117
  • Oct 12, 2010 12:55pm Oct 12, 2010 12:55pm
Quoting Srikanth
I expect a down move 1st and then a nice bull tomorrow in london session.
why ?
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #305,118
  • Oct 12, 2010 12:56pm Oct 12, 2010 12:56pm
Quoting PayTheLimit
Seeing as how we have had all this talk about QE2, and a huge rally I wonder what the catalyst for higher prices will be.
There are some scenarios:
1.Less QE
2.More QE

The first I'll say, it have been incorporated in prices, and if we don't have a strong signal of QE for the FOMC minutes, that we might see some down side.

ps:QE is coming, it is a question of when, no if, but the big question is HOW MUCH the market will consider enought ?
  • #305,119
  • Oct 12, 2010 12:56pm Oct 12, 2010 12:56pm
Quoting egkid
I post this before and i post again hope this help
The 3 sequence u may notice when start forex
1- losing >> because insist to reach ur TP no matter what
2- make profit and then lose it>> Insist to dance to only one rhythm with ur self not listening to market rhythm
3- make profit and keep it >> first step to success u listen , dance, flexible
4- professional Dancer as i call it http://cdn.forexfactory.com/images/s.../yim/happy.gif>> Creator and have a vision

PS:
There are some very good trader here i always when i finish my view...
How's it going? Just got in. In regards to our previous conversation, this is why my analysis was what it was. Funny thing is though, now I'm looking for this thing to make a new high. Just felt it strange to close the gap without revisiting previous resistance first. Have a good trading week bro.
All that is left in FF is just plain garbage. "Cloggie"
  • #305,120
  • Oct 12, 2010 12:58pm Oct 12, 2010 12:58pm
Quoting Alin.puian
There are some scenarios:
1.Less QE
2.More QE

The first I'll say, it have been incorporated in prices, and if we don't have a strong signal of QE for the FOMC minutes, that we might see some down side.

ps:QE is coming, it is a question of when, no if, but the big question is HOW MUCH the market will consider enought ?
I think they say 1 trillion been priced in
making green pips large and red pips small this is my goal.
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