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  • #328,541
  • Edited 11:29am Nov 18, 2010 10:42am | Edited 11:29am
Quoting cloggie
...
You need to build yourself up from scratch, yes there is money to be made in this, but you need to approach it as a business.

Good luck.
...and remember, Decimal, there are no businesses on 'demo' ; so learn the basics well and then trade live (even if with a smaill pip value).
  • #328,542
  • Nov 18, 2010 10:43am Nov 18, 2010 10:43am
Quoting Pipwanderer
m 30 the right one is in formation. at least that is what i see... i am going with my gut. and what my eyes see. just my opinion. i thought it iwll be nice to share what i see on my chart.

i might be wrong who knows we are all speculating
mate , don't be offended . I am not criticizing .

shearing is always good for us to exchange info's and opinions.

but regarding patterns you don't anticipate them to happen. you trade them when they happen .

what I am saying is there was no target nor entry till this moment based on a H&S formation because it didn't happen yet.

and I doubt that it might happen even with current PA, just extra 10 pips up now and you can't call this a right shoulder. and maximum you can call it lower high .


I make mistakes too .

was just pointing we don't anticipate patterns and trade them based on anticipation.

wish you all the luck buddy and keep on the good work
I SEE YOU !!
  • #328,543
  • Nov 18, 2010 10:43am Nov 18, 2010 10:43am
Quoting Decimal
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...


I ai'nt senior but first things first, you need to stop trading such a huge account otherwise you will loose it all. As little as 2K or demo is enough to practise on until you are consistently profitable. afterwards you can bring in the big guns

Get out of crosses especially those related to yen, too much hype but you end up giving all of it back. try trading just one or two of the major pairs

stare at daily, weekly and monthly charts until you are blue in the face -the pips will follow..example , i shorted au above parity and whenever i'm in doubt i just open the monthly and decide to stay put even if it takes me back to be +10

i have been where you are , hope that helps a bit
Mind over matter..I don't mind and you don't matter.
  • #328,544
  • Nov 18, 2010 10:44am Nov 18, 2010 10:44am
Quoting fontu
Never to neglect anybody , I neglected 3588 & now it trying for pullback but apparently at odd place to do that .lets see .
fontu
i had that as a strong 50 fib level of the last move up since asia yesterday..
  • #328,545
  • Nov 18, 2010 10:44am Nov 18, 2010 10:44am
Where do you guys see the Euro going after the Irish bailout news.

This lady shows that it will take a huge hit as evidence by what happened with the Greece bailout.

http://www.kathylien.com/site/forex-...out-would-mean

Do you agree? When should we expect the fall?
  • #328,546
  • Nov 18, 2010 10:44am Nov 18, 2010 10:44am
Quoting fontu
Never to neglect anybody , I neglected 3588 & now it trying for pullback but apparently at odd place to do that .lets see .
fontu
thats why I booked part @ 3588.

person must give respect to bulls and bears and never under estimate any party.
I SEE YOU !!
  • #328,547
  • Nov 18, 2010 10:44am Nov 18, 2010 10:44am
Quoting fontu
Never to neglect anybody , I neglected 3588 & now it trying for pullback but apparently at odd place to do that .lets see .
fontu

Why is everyone so against this? To me this looks like the lower high??

Isnt this logical at all?
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 26 KB
Know when to hold em, Know when to fold em!
  • #328,548
  • Nov 18, 2010 10:45am Nov 18, 2010 10:45am
Quoting goods
Why is everyone so against this? To me this looks like the lower high??

Isnt this logical at all?

Very logical, we need to find a resistance somewhere and we haven't found it yet. We covered the bottom, we need to find a top.
  • #328,549
  • Nov 18, 2010 10:45am Nov 18, 2010 10:45am
Quoting cloggie
Yup, with 3550 in the middle of it, the big boys are setting themselves up for a longer term direction here.
for now i think that bulls have the edge, i should be looking a clear candle above 3600-3611 aera on the 15 min chart and above to confirm the direction?
You see my problem is not in identifing the levels but the confirmation that follows them either up or down..
  • #328,550
  • Nov 18, 2010 10:46am Nov 18, 2010 10:46am
Quoting Pip to Pip
for now i think that bulls have the edge, i should be looking a clear candle above 3600-3611 aera on the 15 min chart and above to confirm the direction?
You see my problem is not in identifing the levels but the confirmation that follows them either up or down..

No, your real problem is not wanting to miss out on the first 10 pips and jumping on board too soon, once these big levels go they are good for 100-200 pips, what's the hurry?
  • #328,551
  • Nov 18, 2010 10:47am Nov 18, 2010 10:47am
Quoting Decimal
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...
Support / Resistance lines, Fibonacci retracements, and Trend lines are all you need. Get rid of all those indicators... maybe, at best, keep the stochastic. But the stochastic doesn' ttell you anything that just looking at the price bars will tell you.

And for the love of god, get into a PRACTICE account.

I have been at this for over a year now, and I still trade in my practice and live.
  • #328,552
  • Nov 18, 2010 10:48am Nov 18, 2010 10:48am
Quoting dbfusion
mate , don't be offended . I am not criticizing .

shearing is always good for us to exchange info's and opinions.

but regarding patterns you don't anticipate them to happen. you trade them when they happen .

what I am saying is...

not pissed at all..it was ranging there for a while now it moved..
market makers move the market. we just mere retailers trying to make a living of this.

good luck man
  • #328,553
  • Nov 18, 2010 10:48am Nov 18, 2010 10:48am
Quoting cloggie
Very logical, we need to find a resistance somewhere and we haven't found it yet. We covered the bottom, we need to find a top.
around 3645 on h4 frame
Hero calls followed by margin calls...
  • #328,554
  • Nov 18, 2010 10:48am Nov 18, 2010 10:48am
Quoting cloggie
Very logical, we need to find a resistance somewhere and we haven't found it yet. We covered the bottom, we need to find a top.

Thanks cloggie, The banks are here to make money and a majority of the banks make money on the retailers!! Every time I see retailers calling something but looking at PA from a much more logical perspective. Personally I want to be on the side of the big boys. It is often hard to spot but I got in this trade yesterday and I am convinced because I see buying, buying,buying. But to where I dont know. That monthly downtrend line was never hit, perhaps this is the final leg to that trenline.

Now I see us contending with a new intraday zone looking like 1.3600 has now become support.
Know when to hold em, Know when to fold em!
  • #328,555
  • Nov 18, 2010 10:49am Nov 18, 2010 10:49am
Quoting Decimal
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....
Reduce your account even more, like to perhaps 2,000 pounds. Even if you have traded other markets successfully (equities, futures, options), Forex has nuances that take time to learn. (similar to what you've experienced with news)

Forget about the money you have lost, you WILL not be making it back quickly. You just need some experience trading Forex and that takes time.

My new favorite recommendation is this thread, start with the 50 page .pdf at the bottom of the first post.
http://www.forexfactory.com/showthread.php?t=86429

Successful trading has nothing to do with how brilliant you are, though trading attracts some great minds (and there are plenty in this forum).
Successful trading is doing the right things over and over again, day after day with discipline.

Sorry to side-track the thread, looks like EUR/USD just popped to 1.3620, I'd short it if I hadn't already stopped trading for the day. I thought the volatility was pretty weak this morning.
  • #328,556
  • Nov 18, 2010 10:49am Nov 18, 2010 10:49am
I'm curious, where did you get these PP's? They are different from mine.
Quoting cagriguler
Attachment
  • #328,557
  • Nov 18, 2010 10:50am Nov 18, 2010 10:50am
Quoting cloggie
No, your real problem is not wanting to miss out on the first 10 pips and jumping on board too soon, once these big levels go they are good for 100-200 pips, what's the hurry?
no rushing at all. 3589-3620 levels to break for a showtime in clouds
  • #328,558
  • Nov 18, 2010 10:50am Nov 18, 2010 10:50am
http://fxdd.autochartist.com/aclite/...ay_18h30_2.PNG
  • #328,559
  • Nov 18, 2010 10:51am Nov 18, 2010 10:51am
http://fxdd.autochartist.com/aclite/...t_in_en_GB.PNG
  • #328,560
  • Nov 18, 2010 10:51am Nov 18, 2010 10:51am
Quoting cagriguler
http://fxdd.autochartist.com/aclite/...ay_18h30_2.PNG
hey buddy what info is that...looks promising?..can you elaborate
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