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  • #308,001
  • Oct 16, 2010 1:45pm Oct 16, 2010 1:45pm
Quoting DMA Trader
hey man
thanks. we'll see if we are right or not.

i went long on Friday so i put my money where my mouth is.

see you later. have a nice weekend.
Wish u all the best
Check Nov 3 Wednesday @Calendar
Why they change the date!?
Same day
ADP Non-Farm Employment Change
ISM Non-Manufacturing PMI
FOMC Statement
Federal Funds Rate
Is that explosions day I belive nothing can come as concidence always there is a reason
Inserted Video
  • #308,002
  • Edited 2:46pm Oct 16, 2010 2:33pm | Edited 2:46pm
Quoting MisterTrader
There is one element in Bernanke´s speech that every single currency dealer has understood immediately and I can only advise members of this forum to read themselves the speeches of FED board members thoroughly because the lousy media outlets hide ALWAYS IMPORTANT FACTS :

Ben Bernanke speech 15th of October 2010

Source : http://www.federalreserve.gov/newsevents/speech/bernanke20101015a.htm

[color=Black][b][color=Red]However, possible costs must be weighed...
if correct the first stop on garlty is 3333... after that IF we go lower 2953... 2953 is fluid and time sensitive. but if near it in the next couple of weeks it will be close. now add in we are in October we dont have a Friday the 13th.. but we do have the chance for black Mondays the 18th or 25th.. bb cant say.. he wants it both ways. one way crashes markets, the other way crashes the country longer term. 1929 took over a decade and a war to escape and we will not get out of this one in 2 years either. companies already have their vaults full of cash and are not spending. banks aren't loaning and people aren't borrowing. i remember before 2000 when banks only loaned money to people who didn't need the money. whats old is new again..
people were happy when their house value doubled and tripled dow 14k. but it was on the backs of their grandchildren and a raped usd. all smoke and mirrors. in 2002 oil was 23$ per barrel today its over 300% more. they few planes into our buildings and we punish them with a 300%+ increase in pay raise. meanwhile we subsidize china and prop up the euro behind the scenes. meanwhile, back at the ranch N. Korea and Pakistan get the bomb. and the sheep never learn...they weigh a nickle against billions... because the string pullers tell them its so. stupidity is a learned skill. some are fast learners

if this is just a pullback or not is not known. it sure looks that way in my eyes. so as the euro weakened from from 5143 to 1876 it helped ez exports because the usd and the Chinese waun strengthened from nov. 2009 till may 2010... it is still showing up in positive data that takes months to turn. The party hats came out... but since May the euro has strengthened and when/IF data turns it will be a further catalyst depending on when the data hits to strengthen usd verses euro. Germany is the kingpin holding the euro together most think. IF this develops as in scenario German exports will be hurt according to data. so If this is a pullback, and during it, bad German export data develops. the pullback can develop a life of its own.. the eu has a habit of over correction.

a mule that shits fast don't shit long.
those who can, do. those who cant, talk about those who can
  • #308,003
  • Edited 2:55pm Oct 16, 2010 2:40pm | Edited 2:55pm
Quoting DMA Trader
hey man
thanks. we'll see if we are right or not.

i went long on Friday so i put my money where my mouth is.

see you later. have a nice weekend.
short at 4153 and gu 609x... holding for now.. as long as usdx is above 76.88 i will not close either trade for a while.
those who can, do. those who cant, talk about those who can
  • #308,004
  • Edited 3:11pm Oct 16, 2010 2:55pm | Edited 3:11pm
How did you decide to short at 4153 G ? I thought it would hit about 4183 but didn't make it
Disclaimer: Check your 1m charts
  • #308,005
  • Oct 16, 2010 2:59pm Oct 16, 2010 2:59pm
Hi all,

A question from a member this week still troubles me ... I did some research a while ago on the subject but I would like some of our most experienced traders here to share their thoughts.

Should we use GMT or NY close (21:00 GMT I think) as day close for forex ? This impacts daily candles patterns, pivot and some S/R calculations, ...

I've been told that more than 80% of forex traders use GMT.
Don't just be a sheep : make your own idea of it.
  • #308,006
  • Oct 16, 2010 3:22pm Oct 16, 2010 3:22pm
Quoting pipper
How did you decide to short at 4153 G ? I thought it would hit about 4183 but didn't make it
gotta go.. go back and look at charts prier to move,
those who can, do. those who cant, talk about those who can
  • #308,007
  • Oct 16, 2010 3:26pm Oct 16, 2010 3:26pm
Quoting kassec
Hi all,

A question from a member this week still troubles me ... I did some research a while ago on the subject but I would like some of our most experienced traders here to share their thoughts.

Should we use GMT or NY close (21:00 GMT I think) as day close for forex ? This impacts daily candles patterns, pivot and some S/R calculations, ...

I've been told that more than 80% of forex traders use GMT.
That's a technical question with many discussions attached to it. Many years ago I was in a deep discussion on this matter on another, now dead, forum and it lead to investigations about the subject. And It was actually quite easy.. The day closes at GMT 22:00. Easy why? Because We start sunday GMT 22:00 in Sydney and end friday GMT 22:00 in New York. Unfortunatly mt4 brokers are all over the gmt time zone with their servers and mess everything up...
  • #308,008
  • Oct 16, 2010 3:27pm Oct 16, 2010 3:27pm
Will do

Quoting gatorinla
gotta go.. go back and look at charts prier to move,
Disclaimer: Check your 1m charts
  • #308,009
  • Oct 16, 2010 3:31pm Oct 16, 2010 3:31pm
Dam, it's those bloody levels again of yours G Much respect... I'll have to find some time to work this out.. Later
Disclaimer: Check your 1m charts
  • #308,010
  • Oct 16, 2010 3:45pm Oct 16, 2010 3:45pm
please check the attachment all the indicators was proper to go short @ 1,4155 even bollinger bands.
Attached Image (click to enlarge)
Click to Enlarge Name: forex.JPG Size: 276 KB
  • #308,011
  • Oct 16, 2010 4:32pm Oct 16, 2010 4:32pm
oh sorry ... just the post that started our debate said you were buying 1.3950 , and 1.3900 , and that 1.4150 possible and then 61.8 at 4447.

I think I am the one that is confused lol

I am also a day trader trading a 15 min chart. I used to trade lower time frames but if you know the sweet spots you do not need to trade a lower time frame imho ... but each to their own method.

Most days I try and work out where those sweet spots maybe, sometimes they are high volume pivots ( the red lines marked HV 02 , 07 04 etc are high vol pivots from up to 20 trading sessions back , note how eu stopped 1.3938 high vol pivot 4 days back.) I am looking for entry on a sell 1.4010 to 1.4020 on Sunday / Monday with target 1.3900 to 1.3890. I have already marked what I am looking at for sell entry and take profit for on my chart. Only sundays price action will determine if this is correct or not. If 1.4000 is not reached then I may just sell on a breakdown 1.3970 with target 1.3860 to 3840.

I am thinking if we do see some form of retracement on eu then 1,3780 to 1.3680 will be seen before end of next week. This is assuming that the average 28 weeks range is 348 pip and 1.4020 is top of week

Good luck next week , one thing is for sure as long as days range stays at 120 pip bulls and bears can make money

Attached Image (click to enlarge)
Click to Enlarge Name: chart3045.png Size: 218 KB








Quoting chonchy
malcolmb, I just don't know what make you think I'm confuse, if you are confuse read my posts a bit, I'm a scalper, I trade the 1M, 3M and 6M charts, I scalp for 1 or more pips, I offer my analisis here like everybody ealse, I never sai the price was going to go to 4447 at once that is a nonsence and is ilogical I only say that price was going to bounce of that red EMA and it did, so, why don't you just leave it there man, please, I beg you, just post your analisis and leave me along, I'm not upset or none of that I just want you to stop showing...
Blogging daily now at www.volume.zone
  • #308,012
  • Oct 16, 2010 4:42pm Oct 16, 2010 4:42pm
Quoting malcolmb14
oh sorry ... just the post that started our debate said you were buying 1.3950 , and 1.3900...

Do they make a better volume indicator for MT4 or is that just a trade station indicator?
  • #308,013
  • Oct 16, 2010 4:55pm Oct 16, 2010 4:55pm
Quoting JohnnyC0404
Do they make a better volume indicator for MT4 or is that just a trade station indicator?
there is better volume for mt4...it is posted in many threads...just go and pick it up.
The Market pays you to be disciplined
  • #308,014
  • Oct 16, 2010 5:17pm Oct 16, 2010 5:17pm
Quoting egkid
Wish u all the best
Check Nov 3 Wednesday @Calendar
Why they change the date!?
Same day
ADP Non-Farm Employment Change
ISM Non-Manufacturing PMI
FOMC Statement
Federal Funds Rate
Is that explosions day I belive nothing can come as concidence always there is a reason
http://www.youtube.com/watch?v=HiaOFOMPOBc
yes my friend that's the day when a lot of people will close their accounts.
can't tell them not to trade that day.

You know my saying. Honey I've made pips trading NFP

Everything happens for a reason. BB is going to make 3 Nov a day to remember.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #308,015
  • Oct 16, 2010 5:19pm Oct 16, 2010 5:19pm
Quoting gatorinla
short at 4153 and gu 609x... holding for now.. as long as usdx is above 76.88 i will not close either trade for a while.
yeah I know man. good entry.
I would wish you good luck but then again I'm long for now. )

see you later. take care.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #308,016
  • Oct 16, 2010 6:07pm Oct 16, 2010 6:07pm
I see there is not to many people afected by the new law of Mr, Obarrama to repatriate all the moneys back to USA, in the start of his presidency he repratiate al the money from offshore acc's, mandate health care and now this, they tranfer my acc back to FXSolutions US from UK without a signature or a tranfer form being fill, I wonder was is next for the sheeps here in the USA of america, the bigest free democracy in the world, what a joke, where can I go? with my bad english, guys, recomend me a place please, thanks in advancehttp://cdn.forexfactory.com/images/smilies/yim/sad.gif
__________________
The Chonchy
  • #308,017
  • Oct 16, 2010 6:35pm Oct 16, 2010 6:35pm
Quoting chonchy
I see there is not to many people afected by the new law of Mr, Obarrama to repatriate all the moneys back to USA, in the start of his presidency he repratiate al the money from offshore acc's, mandate health care and now this, they tranfer my acc back to FXSolutions US from UK without a signature or a tranfer form being fill, I wonder was is next for the sheeps here in the USA of america, the bigest free democracy in the world, what a joke, where can I go? with my bad english, guys, recomend me a place please, thanks in advancehttp://cdn.forexfactory.com/images/smilies/yim/sad.gif
__________________...
Espana Chonchy... Lovely country... Lovely people.
Gone to a better place
  • #308,018
  • Edited 8:16pm Oct 16, 2010 6:50pm | Edited 8:16pm
Quoting smikester
Espana Chonchy... Lovely country... Lovely people.
hey smikester how are you? what are you telling me, there is terrorrists, corruption and we cubans don't have permits to work freely, I would have to marry a spanish woman and I'm allready married to a cuban woman, the same thing happen in australia to tough with imigrants, maybe I make more money and buy my own country, take Dr. Ron Paul with me as president and Peter Shift as finance minister and a few traders from this tread and form the first Hedgh Fund country in the world with leverage 1000 to 1 and acc's from 1 gold coin, no dollars there, not allow

we will call the gold coins "the chonchy's"........they have the rimimbis....
The Chonchy
  • #308,019
  • Oct 16, 2010 7:09pm Oct 16, 2010 7:09pm
Quoting chonchy
I see there is not to many people afected by the new law of Mr, Obarrama to repatriate all the moneys back to USA, in the start of his presidency he repratiate al the money from offshore acc's, mandate health care and now this, they tranfer my acc back to FXSolutions US from UK without a signature or a tranfer form being fill, I wonder was is next for the sheeps here in the USA of america, the bigest free democracy in the world, what a joke, where can I go? with my bad english, guys, recomend me a place please, thanks in advancehttp://cdn.forexfactory.com/images/smilies/yim/sad.gif
__________________...
You said you are Cuban right? Well then how about Cuba?
All that is left in FF is just plain garbage. "Cloggie"
  • #308,020
  • Oct 16, 2010 7:27pm Oct 16, 2010 7:27pm
Quoting DMA Trader
A very good post. I was saying something similar that the angle is not sustanable and we are switching to a more sustanable trend but still up.

so from a sharp 42 to one below 20
IF i am right support should be at levels like 1.3965 1.388
of course they are dynamic so it will go up.

maybe 12-17 angle. we'll see.

thanks

DMA
Thank you....and thank you for the vouch
Doing what you like is Freedom. Liking what you do is Happiness.
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