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  • #322,361
  • Nov 9, 2010 1:39pm Nov 9, 2010 1:39pm
Quoting T@rantula
look at those charts below mate. We have a ranging market, although not a perfect range.

We dont have a range within a range and that is a good thing. After a breakout of august-september range we had a clear uptrend. The PA is consolidating in a sort of a channel but we dont have a range within a range. Thats most important thing.

I hope u didnt lose much. I always scale out of a position.

Attachment
Thanks for caring , No worry It's small position " MM + Plan my Main tools"
My daily chart below let's c what will happen from here
Attached Image (click to enlarge)
Click to Enlarge Name: daily.gif Size: 25 KB
  • #322,362
  • Nov 9, 2010 1:41pm Nov 9, 2010 1:41pm
Remember the Germans are complaining about USA manipulations to keep the USD low... It means they want a stronger dolar, or a weaker EURO instead.
  • #322,363
  • Nov 9, 2010 1:43pm Nov 9, 2010 1:43pm
Quoting bradu
did you explain you trading system anywhere on this forum ?

i look on you profile but didnt see anything

i remember from GU thread you`re using boxes ?

thanks in advance

There is no system, I just identify areas of consolidation and follow the crowd once she moves to the next are of consolidation, pure price trading with a few TL's and bar patterns.

Plain old tape reading, just judge what price is doing, nothing fancy. Before the invention of indicators traders were making a killing looking at price, price hasn't changed so why should I? We are still trading the collective behaviour of participants, even the Quants are programmed by humans and reflect its anticipated behaviour.

An indicator only shows what is already on the chart, it does not predict anything.

I am just a follower, I let someone else do the thinking and make the decisions, I just follow along like a moron as thick as two planks. Posting here and calling my trades actually takes more thinking then the actual trading does.
  • #322,364
  • Nov 9, 2010 1:45pm Nov 9, 2010 1:45pm
Quoting cloggie
If you set it up properly there is little to no tax in this business.
i haven't done it yet, but i got the impression that as soon as i withdraw to my bank account, the bank will immeadiately collect the tax in germany.

but i am not that far that i would withdraw regularly. i would like to know more about this.
  • #322,365
  • Nov 9, 2010 1:46pm Nov 9, 2010 1:46pm
Quoting cloggie
There is no system, I just identify areas of consolidation and follow the crowd once she moves to the next are of consolidation, pure price trading with a few TL's and fibs.

Plain old tape reading, just judge what price is doing, nothing fancy. Before the invention of indicators traders were making a killing looking at price, price hasn't changed so why should I? We are still trading the collective behaviour of participants, even the Quants are programmed by humans and reflect its anticipated behaviour.

I am just a follower, I let someone else...

thanks for answer.
this is almost what i do too

but, do you have a main timeframe that you look at ?
  • #322,366
  • Nov 9, 2010 1:46pm Nov 9, 2010 1:46pm
Quoting FibbinArchie
I've got 3760 as strong support on daily & weekly (with a bit of help from Tonyo)...
got 3750 on daily weekly as well, lets see how pa will react
Hero calls followed by margin calls...
  • #322,367
  • Nov 9, 2010 1:47pm Nov 9, 2010 1:47pm
Quoting Mr Hatch
i haven't done it yet, but i got the impression that as soon as i withdraw to my bank account, the bank will immeadiately collect the tax in germany.

but i am not that far that i would withdraw regularly. i would like to know more about this.

Offshore broker, offshore accounts, offshore entities, trusts, etc. Just talk to a tax accountant and lawyer to set something up for you that works for your circumstances.
  • #322,368
  • Nov 9, 2010 1:48pm Nov 9, 2010 1:48pm
Quoting bradu
thanks for answer.
this is almost what i do too

but, do you have a main timeframe that you look at ?

I have 8 screens and look at several normal and custom TF's mainly tick, 1, 5, 15, 30,60,90,120, then I tailor what I look at depending on the time of day, I have seperate setups for Franky, London , NY and Asia.
  • #322,369
  • Nov 9, 2010 1:49pm Nov 9, 2010 1:49pm
Quoting FibbinArchie
I've got 3760 as strong support on daily & weekly (with a bit of help from Tonyo)...
My experience last time we were her FB.

First it tried multiple times to break down, after some volatile attemps .
each time i entered long and made great pips.
One news event caused a break down.
It tried 5 times on my tick chart to push back up and failed
It then pushed down triggering some stops at 50 to push to 30 level after that it made a continued push up to eventually break back up.
I didnt see the break back up so cant comment on how it broke up.

If there are big dogs that feel this will go up I anticipate strong buying here , a lot stronger than 1.3900.
making green pips large and red pips small this is my goal.
  • #322,370
  • Nov 9, 2010 1:50pm Nov 9, 2010 1:50pm
Quoting cloggie
If you set it up properly there is little to no tax in this business.
how & where, Sir?
in my country, fx trading has no tax.
relatively very cheap place with no tax

with a pound for pound boxer-novice statesman to boot

(edit: i just saw your earlier post regarding my question; Thanks)
  • #322,371
  • Nov 9, 2010 1:50pm Nov 9, 2010 1:50pm
Quoting bradu
did you explain you trading system anywhere on this forum ?

i look on you profile but didnt see anything

i remember from GU thread you`re using boxes ?

thanks in advance
start at babypips.com

after you are done with school find out what kind of system matches your personality.

are you a day trader, swing trader or long term trader.

how many hours can you watch the charts... if the answer is 3... day trading won't be the answer.

open a demo account and trade it until you can beat the market for 3 months.

take your time... there's a lot to learn and the market will be around tomorrow.

patience, probabilities and practice.

stan
  • #322,372
  • Nov 9, 2010 1:50pm Nov 9, 2010 1:50pm
Quoting paul1
My experience last time we were her FB.

First it tried multiple times to break down, after some volatile attemps .
each time i entered long and made great pips.
One news event caused a break down.
It tried 5 times on my tick chart to push back up and failed
It then pushed down triggering some stops at 50 to push to 30...

3 pm NY time, not much enthusiasm left to swing this for a long drive from here, just wait for Asia volumes to come in.
  • #322,373
  • Nov 9, 2010 1:50pm Nov 9, 2010 1:50pm
Quoting PhAnTi'
got 3750 on daily weekly as well, lets see how pa will react
Just read on Forexlive they reckon 3800 should hold as interim support, whatever interim is, maybe just to NY session close, interesting to see if Asia can take it lower tonight, I would be surprised tho'
  • #322,374
  • Nov 9, 2010 1:52pm Nov 9, 2010 1:52pm
Quoting supremeChaos
how & where, Sir?
in my country, fx trading has no tax.
relatively very cheap place with no tax

with a pound for pound boxer-novice statesman to boot

We are not all so lucky, some of us have to structure our business the most efficient way, but that is the cost of living in London, at least I don't have to get up at awful times to catch the big moves.
  • #322,375
  • Nov 9, 2010 1:53pm Nov 9, 2010 1:53pm
Quoting supremeChaos
how & where, Sir?
in my country, fx trading has no tax.
relatively very cheap place with no tax

with a pound for pound boxer-novice statesman to boot
Hey
Long time bro
Hope all is well
  • #322,376
  • Nov 9, 2010 1:54pm Nov 9, 2010 1:54pm
Quoting paul1
My experience last time we were her FB.

First it tried multiple times to break down, after some volatile attemps .
each time i entered long and made great pips.
One news event caused a break down.
It tried 5 times on my tick chart to push back up and failed
It then pushed down triggering some stops at 50 to push to 30...
I hope so, I want a good shorting opp, I hope that wasn't the top, coz I scalped it... LOL

Wild guess, it'll get parked down here, Asia will go for stops then take it back up, just going on normal modus operandi...
  • #322,377
  • Nov 9, 2010 1:54pm Nov 9, 2010 1:54pm
I was gone most of the day but was just skimming thru the forum and noticed how everyone got along so well today. No fights or death threats. LOL
  • #322,378
  • Nov 9, 2010 1:55pm Nov 9, 2010 1:55pm
Quoting Naish
Hi Markus, I am looking on it as move up 4 (3w) and now down 5 (5w structure).
all other counts are bad :-( (For wave 2 is this to small and 3-5-? at the moment)
My target is 1. target 1.38, 2. - 1.3767

Nice evening Georg

PS: --- u know it, last alternative is always correct
Hi Georg,

LOL very true what you said about last alternative, at least in my life. Maybe I have to put things upside down to start with the right order :-)

I now think, that we have formed a broad wave 4 flat, which started at 3890 yesterday morning.

See my blog for pic.

With the targets we are inline now:

3794-3733

We are now in a subwave 4 of this wave 5 - good countable on 30min TF


So we get in a few hours a wonderful opportunity to repeat this mornings game again :-)

Seems to be breaking out of the wave 4 triangle now. Expect a more short move. Maybe only 3794. We will see......
  • #322,379
  • Nov 9, 2010 1:55pm Nov 9, 2010 1:55pm
Quoting druckenmillr
start at babypips.com

after you are done with school find out what kind of system matches your personality.

are you a day trader, swing trader or long term trader.

how many hours can you watch the charts... if the answer is 3... day trading won't be the answer.

open a demo account and trade it until you can beat the market for 3 months.

take your time... there's a lot to learn and the market will be around tomorrow.

patience, probabilities and practice.

stan

thanks for advice Stan, but i`m not a novice...even i just register here.
i`m trading for almost 2 years live now...and lurking on FF since 2007

i was not looking for a system to trade, was just curious about clogie`s one. i watch closely some of the guys here...and clogie is one of them.
  • #322,380
  • Nov 9, 2010 1:56pm Nov 9, 2010 1:56pm

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