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  • #328,501
  • Nov 18, 2010 10:01am Nov 18, 2010 10:01am
Quoting cloggie
Get yourself a good newsfeed and you will have the second best thing, find a source that the big boys look at too and you will have the same news at the same time.
Using a good newsfeed it's always been my pre-requisite; a fixed income trader cannot trade with it for flows about steepeners or flatteners, auctions, etc. I know what you mean. But even a regular Dow Jones or Reuters X3000 feed could not be enough sometimes... A bloomie is a bit expensive for me now.
  • #328,502
  • Nov 18, 2010 10:01am Nov 18, 2010 10:01am
EU is coorelating nicely wigh Gold vs $
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Know when to hold em, Know when to fold em!
  • #328,503
  • Nov 18, 2010 10:02am Nov 18, 2010 10:02am
Quoting cloggie
They are not free, the one I use is about 2k a month.

One day I can afford that.
Know when to hold em, Know when to fold em!
  • #328,504
  • Nov 18, 2010 10:03am Nov 18, 2010 10:03am
Quoting paulg
Could you please better explain this excerpt? I'm a bit lost reading it.

Supposedly you identified a pattern on the M5 that gave you a setup for a short, you enter the short with a target of say 30 pips, now keep an eye on the 15 and see if that same or similar pattern develops on the 15 that gives you a reason to stay in with a possible target of 90 pips. Then have a look at the 30 and so on. The reverse is true also, a pattern on the 30 can be validated on the 15 and 5.

An example is TL breaks, find the one on the 5 that gives you the entry, find the one on the 15 that gives you the continuation, go to the 30 and so on. Another one is the levels I keep harping on about, find the trigger and target on the 5, find the next one on the 15 and the 30 and see if she continues, doing that will get your entries closer to tops and bottoms and keeps you from exiting too early.

I use smaller TF progressions, linear, exponential and logarithmic to do the same thing.
  • #328,505
  • Nov 18, 2010 10:06am Nov 18, 2010 10:06am
Quoting cloggie
Supposedly you identified a pattern on the M5 that gave you a setup for a short, you enter the short with a target of say 30 pips, now keep an eye on the 15 and see if that same or similar pattern develops on the 15 that gives you a reason to stay in with a possible target of 90 pips. Then have a look at the 30 and so on. The reverse is true also, a pattern on the 30 can be validated on the 15 and 5.

I use smaller TF progressions, linear, exponential and logarithmic to do the same thing.
Ok, now it's perfectly clear, I was lost reading the wrong meaning: it's fractal patterns scanning for confirming scenarios. Thank you.
  • #328,506
  • Nov 18, 2010 10:09am Nov 18, 2010 10:09am
Wall Street opens higher on Ireland and sp 500 up 1.74% eur pointing down
  • #328,507
  • Nov 18, 2010 10:10am Nov 18, 2010 10:10am
Quoting Pipwanderer
Wall Street opens higher on Ireland and sp 500 up 1.74% eur pointing down

WS opened almost 2 hours ago, not quite sure what your statement alludes to.
  • #328,508
  • Nov 18, 2010 10:12am Nov 18, 2010 10:12am
first level of support cleaning is being worked on , Bull slaughter is happening now i guess .
I SEE YOU !!
  • #328,509
  • Nov 18, 2010 10:12am Nov 18, 2010 10:12am
Quoting cloggie
WS opened almost 2 hours ago, not quite sure what your statement alludes to.
I'm seeing strong buying at these levels, can any experienced traders confirm this please
  • #328,510
  • Nov 18, 2010 10:13am Nov 18, 2010 10:13am
Today real and easiest trade is usd/chf. After the news without any retracement.
  • #328,511
  • Nov 18, 2010 10:14am Nov 18, 2010 10:14am
1.3588 not enough to stop & pullback , lets which level it stop for the same , may not even need this for the fall .evening start H4 there for the reversal.
fontu
Attached Image (click to enlarge)
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #328,512
  • Nov 18, 2010 10:15am Nov 18, 2010 10:15am
Quoting onewish
I'm seeing strong buying at these levels, can any experienced traders confirm this please
psych lvl got killed.... now targeting for 3550 lvl
Hero calls followed by margin calls...
  • #328,513
  • Nov 18, 2010 10:16am Nov 18, 2010 10:16am
Quoting onewish
I'm seeing strong buying at these levels,

I don't
  • #328,514
  • Nov 18, 2010 10:16am Nov 18, 2010 10:16am
Quoting manz66
Today real and easiest trade is usd/chf. After the news without any retracement.
yes done this with usdjpy too.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #328,515
  • Nov 18, 2010 10:16am Nov 18, 2010 10:16am
Quoting cloggie
An example is TL breaks, find the one on the 5 that gives you the entry, find the one on the 15 that gives you the continuation, go to the 30 and so on. Another one is the levels I keep harping on about, find the trigger and target on the 5, find the next one on the 15 and the 30 and see if she continues, doing that will get your entries closer to tops and bottoms and keeps you from exiting too early.

I use smaller TF progressions, linear, exponential and logarithmic to do the same thing.

Please excuse the newbie question but what does "TL break" and "TF Progression" stand for?

Thanks in advance
We're all stories in the end. Just try to make it a good one.
  • #328,516
  • Nov 18, 2010 10:16am Nov 18, 2010 10:16am
Quoting cloggie
WS opened almost 2 hours ago, not quite sure what your statement alludes to.
i am talking about the nice correlation the eu has with the sp 500.. they happen to move like each other sometimes but today is the opposite..there is absolutely not risk aversion at least imo. this should move up..hopefully it is a nice retrace
  • #328,517
  • Nov 18, 2010 10:17am Nov 18, 2010 10:17am
.....?
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  • #328,518
  • Nov 18, 2010 10:17am Nov 18, 2010 10:17am
Quoting Traderji
Please excuse the newbie question but what does "TL break" and "TF Progression" stand for?

Thanks in advance

Trendline break
Timeframe progression.
  • #328,519
  • Nov 18, 2010 10:18am Nov 18, 2010 10:18am
Quoting cloggie
I don't
thx for response, will look again
  • #328,520
  • Nov 18, 2010 10:18am Nov 18, 2010 10:18am
Hi chaps,

I am posting this as a call for help I guess and would be very grateful to receive any direction/proposals for those senior contributors who are willing/prepared to assist me.

My general personal history, is that I am English, 40, married, kids, live in Spain and want to earn my living trading forex. I started this journey in February this year and foolishly deposited £250,000 in a Oanda account and made a few stupid mistakes like trading cable into news announcements at £1K a pip. As found very quickly spreads widen and direction changes and on one specific occasion I lost £37K in two minutes. Foolish and Stupid I guess are the only words to describe my experience.

Since then, I have reduced my account significantly for my own safety and have been trading major crosses on the yen, dollar and swissie pairs using stochs, two MA's and a daily pivot. Bascially looking for major crosses or continuation crosses with the trend and getting my entry on pullback either to pivot or a MA or support.

I am having some success with this, however the bottom line is that I am still loosing money each month based on each trade being 2% of my account.

As you can imagine my confidence has been knocked and I am beginning to doubt if this is for me. Saying that I know from sitting on the fence reading this forum that people are making money and I am very much of the believer if one person can do it well then so can I.

Ideally I would like to make 20 pips a day. That would make me very happy and very wealthy compounding this and then adding more capital in when I know what I am doing.

Can anyone suggest a simple reliable model that would work for me.

Thanks in anticipation of anyone prepared to direct me further.

Cheers.
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