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  • #319,761
  • Nov 4, 2010 9:58pm Nov 4, 2010 9:58pm
Quoting druckenmillr
my veyron needs tires.

lol
player, first thing you need to do is get outta the so-called Asian session - it's lame-o. Fire up the industrial strength coffeepot and stay up overnight with the real grubbers. Sleep is for pussies. You can sleep after you bank too much money. Etc....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #319,762
  • Nov 4, 2010 10:01pm Nov 4, 2010 10:01pm
Quoting The Fool
I thought you had got out the OPM game.
Lol. He's gone. I'll let Twee sort it out from here.
  • #319,763
  • Nov 4, 2010 10:01pm Nov 4, 2010 10:01pm
Quoting The Fool
player, first thing you need to do is get outta the so-called Asian session - it's lame-o. Fire up the industrial strength coffeepot and stay up overnight with the real grubbers. Sleep is for pussies. You can sleep after you bank too much money. Etc....
then call me vaginnaaa.

headed to bed.

gnight
  • #319,764
  • Nov 4, 2010 10:07pm Nov 4, 2010 10:07pm
Alright, I'm outta here til LO. For some light reading the attached usually good for a laff. For every one they catch you gotta figure another 20 slip by....

http://www.cftc.gov/PressRoom/PressR...ases/index.htm
"If The Fool persists in his Folly he will become wise." - William Blake
  • #319,765
  • Nov 4, 2010 10:10pm Nov 4, 2010 10:10pm


Quoting druckenmillr
my checking account would work.
  • #319,766
  • Nov 4, 2010 10:12pm Nov 4, 2010 10:12pm
Quoting The Fool
player, first thing you need to do is get outta the so-called Asian session - it's lame-o. Fire up the industrial strength coffeepot and stay up overnight with the real grubbers. Sleep is for pussies. You can sleep after you bank too much money. Etc....
lol
All that is left in FF is just plain garbage. "Cloggie"
  • #319,767
  • Nov 4, 2010 10:12pm Nov 4, 2010 10:12pm
Flag ? If it breaks downside, target is around 1.4160.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-m5.gif Size: 14 KB
Don't just be a sheep : make your own idea of it.
  • #319,768
  • Nov 4, 2010 10:12pm Nov 4, 2010 10:12pm
Quoting druckenmillr
then call me vaginnaaa.

headed to bed.

gnight
You 2 are hilarious!
All that is left in FF is just plain garbage. "Cloggie"
  • #319,769
  • Nov 4, 2010 10:28pm Nov 4, 2010 10:28pm
im new to this site and have only been trading for about 6 months. unfortunately even given the amount of work and study that ive put into becoming proficent at technical analysis im not really making a high enough percentage of successful trades and overall am really only just managing to make a small profit hardly worthy of the time ive put towards it. im based in australia and looking for a someone to mentor me so that i can become a reasonably successful trader. i dont care about making millions, i just want to trade well and trade intelligently which im clearly not doing now. i'm a university student and willing to put in long hours if needs be

i was wondering if there are any resources that people could recommend that i look into.

Ive recently made a very successful trade buy longing the euro at 1.3921 and holding the position open until now. using my system ive determined that closing this position at around 1.4290 next week will be the most profitable before a likely short term drop. I also trade gold and silver and the aud.

any ideas? any input at all would be appreciated.
  • #319,770
  • Nov 4, 2010 10:37pm Nov 4, 2010 10:37pm
Your trade sounds lucky to me, but if you followed your trading method, then continue following your trading method. Don't follow the sheeple .... create your own trading method and follow it ... sometimes you'll lose and other times you'll win. At the end of the month you want to be positive.

Here's some advice. Be patient. Some will think it's to basic, others will think it's bullshit, but be patient. I trade on the 5 minute and only make 2-5 trades a week. As of Wednesday I was up nearly 4oo pips. That's about average for me. Although I trade off of the 5 minute many of my trades are open for several hours.

--- Alright .... I'm out. I'll show my face again in a few days, weeks or months. Wishing many green pips to all.









Quoting lucifersam
im new to this site and have only been trading for about 6 months. unfortunately even given the amount of work and study that ive put into getting good at technical analysis im not really making a high enough percentage of successful trades and overall am really only just above break even point.

i was wondering if there are any resources that people could recommend that i look into.

Ive recently made a very successful trade buy longing at 1.3921 and holding the position open until now. using my system ive determined that closing this position...
  • #319,771
  • Nov 4, 2010 10:46pm Nov 4, 2010 10:46pm
Hi Gulfcoast,
Can I ask you why you prefer the 5min chart if you are going to hold the trade for hours?
Just curious.
  • #319,772
  • Edited Nov 5, 2010 12:03am Nov 4, 2010 11:04pm | Edited Nov 5, 2010 12:03am
Quoting piptornado
Hi Gulfcoast,
Can I ask you why you prefer the 5min chart if you are going to hold the trade for hours?
Just curious.
I personally prefer the 5 minute chart because that's where I'm the most successful. I do trade the daily and weekly too, but that's not my bread and butter. For me the larger time frames need more wiggle room (more draw down).

To answer your question though ... the lower time frames (5 minute) offer less risk and maximum reward for my trading method. As you can see from my posts tonight ... others were calling long ... and I was shorting EU on a 5 minute. I'm still in the trade on a 5 minute and will be for the next few hours (at least) or until I feel uncomfortable or price moves above my theshhold.

Trading lower time frames though require more attention. I think most new traders want a "set and forget" trading method. Those don't exist.

Here's some advice:

1) don't over trade. if you're trading more than 10 times a week you're definitely over trading. No ifs ands or butts about it. Most will disagree, but this comes from thousands of hours of experience.

2) I'm partial to the 5 minute, so if you're not looking at the 5 minute chart ... I personally believe you're missing some valuable information.

3) If you're trading on the longer time frames because you have a job ... I suggest you still look at the 5 minute. IMHO the 5 minute chart is the most defining chart, not only does it tell you where price has been but gives you a pretty good idea of where price will go.

4) learn how to use ADX. Although most indicators are lagging, When interpreted ADX can be a leading indicator. Learn how to use it.

5) If you're a frequent reader of FF ... don't let other members influence your train of thought and trading decisions. Plan your trade and trade your plan. Whether or not you want to share it here on FF is up to you, but don't let others influence your decision.


---- I'm out. See you guys next time.
  • #319,773
  • Nov 4, 2010 11:08pm Nov 4, 2010 11:08pm
Hi gamblers.
The Thief of Wall Street
  • #319,774
  • Nov 4, 2010 11:10pm Nov 4, 2010 11:10pm
I personally trade on the Weekly /Daily charts because that's the best timing to be successful. I only lok at my Chart every alternate day & consistent of + 300 pips weekly.

Have a great trading week to all traders.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd revesal nov 2010.jpg Size: 228 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #319,775
  • Nov 4, 2010 11:11pm Nov 4, 2010 11:11pm
Quoting GulfCoastPip
I personally prefer the 5 minute chart because that's where I'm the most successful....
Thanks. Makes a lot of sense.
  • #319,776
  • Nov 4, 2010 11:25pm Nov 4, 2010 11:25pm
Quoting GulfCoastPip
Here's some advice:

1)...
All of these points match with your trading style ...you can't apply these 5 points to everyone...
Only the point 5 makes sense to me.
I never ever look at the 5mn chart to make a trade...well, i look at it when i am bored.
ADX is, for ME, another indicator full of shit.
And making more than 10 trades a week is not over-trading.

But like i said, its my opinion.

Good luck to you anyway.
COT: The precious data ignored
  • #319,777
  • Nov 4, 2010 11:29pm Nov 4, 2010 11:29pm
As they say ... opinions are like assholes. Everyone has one.

There's very few on FF that have walked the walk and talk the talk. Those that have make monthly withdrawals from their b0rker others are funding their account.



Quoting kuroro001
All of these points match with your trading style ...you can't apply these 5 points to everyone...
Only the point 5 makes sense to me.
I never ever look at the 5mn chart to make a trade...well, i look at it when i am bored.
ADX is, for ME, another indicator full of shit.
And making more than 10 trades a week is not over-trading.

But like i said, its my opinion.

Good luck to you anyway.
  • #319,778
  • Nov 4, 2010 11:29pm Nov 4, 2010 11:29pm
morning every one
I SEE YOU !!
  • #319,779
  • Nov 4, 2010 11:34pm Nov 4, 2010 11:34pm
Quoting PayTheLimit
short 4206, sl 4236, tp 4176.....
For the record, I closed this dumb ass trade at 4216, for a -10. Just dumb.
Look Sharp/Trade Tight
  • #319,780
  • Nov 4, 2010 11:35pm Nov 4, 2010 11:35pm
Quoting piptornado
Hi Gulfcoast,
Can I ask you why you prefer the 5min chart if you are going to hold the trade for hours?
Just curious.
BTW I also trade 5m chart and hold trades for long time can exceed 2-3 hours sometimes .

hourly chart can make you stay in a trade for few days .
I SEE YOU !!
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