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  • #328,661
  • Nov 18, 2010 1:02pm Nov 18, 2010 1:02pm
Quoting onewish
This is the hourly candle that should give us the clue, if this candle continues north then drop before hr closes then I may reconsider from a bull to bear stance....waiting game
Maynot mean anything to anyone but large bets are placed for a gold drop later into tommorrow, if it happens would E/U follow?
could aldo be wrong so don't crucify me
  • #328,662
  • Nov 18, 2010 1:04pm Nov 18, 2010 1:04pm
does anyone know why e/u has been so trendy this week?
  • #328,663
  • Nov 18, 2010 1:08pm Nov 18, 2010 1:08pm
Quoting akhtergroup
Unless you are getting mentored by a floor trader/broker you are shit out of luck. and even then they won't tell you how they trade, but you would be able to physically see their sheets, body language and how they behave and anticipate the market.. which is by far worth more than any 'guru' mentoring service because you aren't paying them directly. You are paying to be on the floor.
What if you could get a job sweeping the floor? And then you could watch the floor traders on the floor while you swept the floor? And maybe they might leave spare stacks of money sitting around, or a half-eaten sandwich, that you could scarf? Then you wouldn't be paying to be on the floor, but getting paid to be on the floor? Would that work? So, where is the floor?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #328,664
  • Nov 18, 2010 1:09pm Nov 18, 2010 1:09pm
Quoting massimo_d
It is the first time I write on this forum, so I present myself: I'm an Italian trader and often have asked myself why Euro is going up with all the problems...

Euro is going up because it want to go up. The 8 day decline was just a pullback. Look at the Euro monthly chart or the COT report. It's really bullish. 1.3488 was where I thought we will get a bounce. We traded slightly below it and then here we are. Now 1.42 will be hear soon.
Prices are never too high to begin buying or too low to begin selling.
  • #328,665
  • Nov 18, 2010 1:10pm Nov 18, 2010 1:10pm
Quoting akhtergroup
Yea thanks for that great lengthy, well-thought explanation.. How many years of industry experience do you have?

Market making is simply having a dual-sided inventory; a buy-side and sell-side strategy. It does not change the fact that they are trying to get out of trades at a better price than they entered. It's not at all like comparing apples to oranges. It's more like comparing different risk profiles and appetites for risk.

They are price takers too, because if they need a certain amount of inventory at a certain price they will execute the...
ok dude....they have money we dont, therefor they trade differently, hard to understand?

ive just started trading in october
  • #328,666
  • Nov 18, 2010 1:15pm Nov 18, 2010 1:15pm
Quoting mfoste1
ok dude....they have money we dont, therefor they trade differently, hard to understand?

ive just started trading in october
market makers dont actually sit and daydream and speculate like retailers do..they use algorithms..to trigger trades
  • #328,667
  • Nov 18, 2010 1:22pm Nov 18, 2010 1:22pm
Quoting Barata
you did it stan... I´m happy I closed my intraday shorts yesterday.

It was a no trade day as I don´t believe this upmove and fear being crushed by bear.

Skyzer... How about gold???
it had some legs.

stan
  • #328,668
  • Nov 18, 2010 1:25pm Nov 18, 2010 1:25pm
Quoting Pipwanderer
market makers dont actually sit and daydream and speculate like retailers do..they use algorithms..to trigger trades
may be but not think so any , all the movements should be done my those only who can change any pips & while they themselves interact each other not doing any better than us ,difference is they can tolerate more & have better winning chance .Let they do , we scavengers /opportunist will wait for any left for us & plus point for us we have nothing to loose like them , so can bet only afford to give .see you all next morning.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #328,669
  • Nov 18, 2010 1:30pm Nov 18, 2010 1:30pm
news had been digested.

well above the pivot point on the day.

a nice pull back to the most important psych level... 00.(.3600)

some nice support .3580.

trade trigger.

day trading... trading in the direction of the day... i know... novel.

stan
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  • #328,670
  • Nov 18, 2010 1:34pm Nov 18, 2010 1:34pm
Quoting cloggie
Oh and Decimal ignore each and every offer for "mentoring" services or training, no trader in the world that is truly worth learning from will offer to help you out.

You are now a public cash cow, and loads of people want a piece of you.

Well thanks guys for such a wide range of advise on what I should and shouldnt do. I was a little suspect about making a genuine post on this site.

The essence/intention of my request was:

"How do I safely make 20 pips a day using a simple model, that is easy enough for my 13 year old son to operate safely."

I now regret issuing the personal history aspect, as this seems to draw a conclusion of "I dont know what I am doing". Which is a little unfair I think, given the edited information I presented.

So I am doubtful that there is not a safe and straightforward model to compound 20 pips a day. It doesnt really matter if they are for one cent, one pound, one euro or a thousand euros What I was after is a specific direction to a safe, easy to use model with a link to its source/designer.

Anyhow, thanks for all your responses, I am sure they are all well intentioned.

Today has not been that bad I did manage a little 40 pips on a long eurousd with a 15 pip SL, so thats £4000 in the bag. Lets see if I can do it tomorrow too.

Regards,

Decimal.point.
  • #328,671
  • Nov 18, 2010 1:37pm Nov 18, 2010 1:37pm
Quoting druckenmillr
day trading... trading in the direction of the day... i know... novel.

stan
Hot money was made in the early London breakout while you were snoozing - they did everything but print invitations for that one. After that it was ranging bs best left to the lucky.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #328,672
  • Nov 18, 2010 1:42pm Nov 18, 2010 1:42pm
Quoting The Fool
Hot money was made in the early London breakout while you were snoozing - they did everything but print invitations for that one. After that it was ranging bs best left to the lucky.
trade london... but my azz has to sleep sometime.

the market was looking for any reason to sell dollars.

i don't think it has legs but a few pips here and there is all i desire.

stan
  • #328,673
  • Nov 18, 2010 1:49pm Nov 18, 2010 1:49pm
Quoting druckenmillr
trade london... but my azz has to sleep sometime.

the market was looking for any reason to sell dollars.

i don't think it has legs but a few pips here and there is all i desire.

stan
ya I caught it & and set sl @ +20 and went to bed with visions of multiple legs up dancing in my head but oh well - 20 a day is plenty for mee tooo
"If The Fool persists in his Folly he will become wise." - William Blake
  • #328,674
  • Nov 18, 2010 1:55pm Nov 18, 2010 1:55pm
g/u 4h crossed 50 ema.. a/u is about to cross it 4h .. and e/u 4h is pretty close too.. if they all end up on the other side by4pm when current candle closes.. a run up might develop..
  • #328,675
  • Nov 18, 2010 1:56pm Nov 18, 2010 1:56pm
Quoting Pipmysterio
Euro is going up because it want to go up. The 8 day decline was just a pullback. Look at the Euro monthly chart or the COT report. It's really bullish. 1.3488 was where I thought we will get a bounce. We traded slightly below it and then here we are. Now 1.42 will be hear soon.
1.42? ^^ huge words my friend...
Hero calls followed by margin calls...
  • #328,676
  • Nov 18, 2010 1:56pm Nov 18, 2010 1:56pm
Quoting rogerdoger
does anyone know why e/u has been so trendy this week?
lot of news.... ?! : p
Hero calls followed by margin calls...
  • #328,677
  • Nov 18, 2010 1:59pm Nov 18, 2010 1:59pm
Quoting cloggie
We are entering a range here 3620-3634
Been gone for an hour and as I thought nothing has changed, afternoon NY sessions after a day like this are usually so thin on volume that I wonder why I even bother.
  • #328,678
  • Nov 18, 2010 2:01pm Nov 18, 2010 2:01pm
Pick your direction. I believe I will remain adding to dips as we move up.
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Know when to hold em, Know when to fold em!
  • #328,679
  • Nov 18, 2010 2:06pm Nov 18, 2010 2:06pm
Quoting goods
Pick your direction.

You got it. My bias for next week is still up.
  • #328,680
  • Nov 18, 2010 2:06pm Nov 18, 2010 2:06pm
Quoting PhAnTi'
1.42? ^^ huge words my friend...
Just look at how the Euro had been trading lately. When a trend is in play it averages 2cent a day. 1.42 will come so quick that majority of traders will not catch it. After we move above 1.38 this baby will climb up really fast.
Prices are never too high to begin buying or too low to begin selling.
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