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  • #328,701
  • Nov 18, 2010 2:59pm Nov 18, 2010 2:59pm
lol, this forum cracks me up sometimes... it seems like everyday there is a rally we're going to 2.00, and any day there is a down day the EU is going to be disbanded and the euro worthless.
  • #328,702
  • Nov 18, 2010 3:00pm Nov 18, 2010 3:00pm
Quoting Pipmysterio
Also take a look at the COT report since July 2010. I hope u know how to read it. U need to read it as a speculator not a hedger.
you're correct - i misread that you gave specific date. I thought you said always. My bad.
  • #328,703
  • Nov 18, 2010 3:06pm Nov 18, 2010 3:06pm
Quoting Decimal
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...
Ohhh...I hope that the 4K profit you made on 40 pips is between 1 to 5% of your margin. Otherwise your account is gone very soon.
  • #328,704
  • Nov 18, 2010 3:07pm Nov 18, 2010 3:07pm
Quoting Venice
If you are looking at a chart and the chart is not telling you where price is going [ie. bull, bear] and it is not painfully obvious, you should not be placing bets. If you think it is more then that, you are dead wrong.

Some of us do like the wager now and then though, just don't confuse it with thinking you were right and you chose the right direction because that 50% chance fell in your favor.
I hear you on this one. The way I see it and I notice I am on the winning side much much more is when I do what price is telling me now in the current leg of things. The past price history I look at I use them with proper risk of road blocks I have to contend with that are in the way of my trade. This is why I have stopped picking tops and bottoms because when you look at trades this way, you just might have found the top and bottom this way, I like macro price movements these turn into long term trades.

I am great by the way. I think I have finally got my handle on things, I have advanced a new step in the way I look at price lately and I have hade 80% success so far since I have had this wake up call.
Know when to hold em, Know when to fold em!
  • #328,705
  • Nov 18, 2010 3:08pm Nov 18, 2010 3:08pm
Breaking news Greece is struggling to make its austerity targets
  • #328,706
  • Nov 18, 2010 3:09pm Nov 18, 2010 3:09pm
(Reuters) - Greeks vote in a local election run-off on Sunday which could further complicate Prime Minister George Papandreou's drive to meet tough deficit targets agreed in exchange for a 110 billion euro rescue from the EU and IMF.
The vote comes as the government braces for tough negotiations with its lenders, who could seek additional austerity pledges from Athens when they begin an inspection visit on Monday.
A poor result for Papandreou's ruling PASOK party on Sunday could make it harder for him to sell further belt-tightening to a population already struggling to digest deep spending cuts and tax hikes.
Greece committed back in May to reducing its budget deficit to 8.1 percent of gross domestic product (GDP) this year but tax revenue shortages and an upward revision to the 2009 deficit mean Athens will only manage to cut it to 9.2-9.3 percent, a government source told Reuters last week.
With Greece struggling to deliver on its fiscal promises, Papandreou told the Sunday edition of the Proto Thema newspaper that extending repayment of the EU/IMF loan was on the table.
But European Central Bank Executive Board member Lorenzo Bini Smaghi told the Kathimerini newspaper that any talk of changing the loan terms would hurt Greece's credibility.
Papandreou had threatened to call snap elections if the regional polls failed to give him a mandate to follow on Greece's painful reform drive.
But he ruled that out after a respectable showing for PASOK in the first round. The government won two super-regions and there are runs offs in another 11 this Sunday.
The ballots close at 1500 GMT and initial results are expected later in the evening.
IMF, EU and European Central Bank officials begin a visit to Athens on Monday to monitor fiscal progress and approve a 9-billion euro disbursement of the EU/IMF emergency funding due in November.
Analysts say Greece could come under pressure from the officials to take additional steps to avoid further slippage on its targets.
Papandreou said at a special meeting with his ministers on Saturday that the nation was ready for additional spending cuts but he promised that savings will not hurt wagers and pensioners further. A senior government official said cuts could be worth about two percent of GDP next year.
  • #328,707
  • Nov 18, 2010 3:12pm Nov 18, 2010 3:12pm
Quoting Forexfsa
(Reuters) -...

That was last week buddy. No need to confuse the already confused even more.
  • #328,708
  • Nov 18, 2010 3:14pm Nov 18, 2010 3:14pm
Ireland finance minister today stated they will need the help of International nations to help them get them out of the shit whats going on in Europe trillions and trillions of debt
  • #328,709
  • Nov 18, 2010 3:17pm Nov 18, 2010 3:17pm
Quoting Forexfsa
Ireland finance minister today stated they will need the help of International nations to help them get them out of the shit whats going on in Europe trillions and trillions of debt

That was last night's news, got anything a bit more uptodate?
  • #328,710
  • Nov 18, 2010 3:17pm Nov 18, 2010 3:17pm
Quoting goods
Alot of big major players are targeting this area if you can find and read the bank reports

yea because banks love traders frontrunning them....
  • #328,711
  • Nov 18, 2010 3:18pm Nov 18, 2010 3:18pm
hi guys.

oh, this doesn't look as nice as i suspected this afternoon.
we're ranging in the lower portion of an upward channel. back to scalping for now.

bias: lt - bearish / mt - bearish / st - cautious
  • #328,712
  • Nov 18, 2010 3:19pm Nov 18, 2010 3:19pm
Lets see if we get ourselves a nice little wall at 3660.
  • #328,713
  • Nov 18, 2010 3:20pm Nov 18, 2010 3:20pm
I don't get how you guy's do it, every fucking time I open an order not even 1 ms later the market moves against me. I made nothing but loss this week
  • #328,714
  • Nov 18, 2010 3:22pm Nov 18, 2010 3:22pm
Quoting reaperunique
I don't get how you guy's do it, every fucking time I open an order not even 1 ms later the market moves against me. I made nothing but loss this week

You are not scalping shorts are you? The only tradeable trades out there right now are small long scalps of mini supports edging to the top, intraday NY top has to give first. IF the NY top holds then you can scalp some shorts, until then follow the herd.
  • #328,715
  • Nov 18, 2010 3:22pm Nov 18, 2010 3:22pm
Quoting reaperunique
I don't get how you guy's do it, every fucking time I open an order not even 1 ms later the market moves against me. I made nothing but loss this week
post your chart, please.
  • #328,716
  • Nov 18, 2010 3:26pm Nov 18, 2010 3:26pm
Keeping an eye on 200MA @ 1H

There just might be a bear wedge forming since Tuesday...
  • #328,717
  • Nov 18, 2010 3:28pm Nov 18, 2010 3:28pm
Quoting Mr Hatch
post your chart, please.
this is my M30 chart of eur/usd

It's not like I've lost half of my bank, I trade with less than 1% of my account(I think it's 0,8%).
Also this forum isn't helping either, one moment people are screaming: "hurr IMMA SHOOOORT durp, we'r gonna seez 1.3 soon" not even 15 minutes later it's "long, 1.38 herz we come"
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  • #328,718
  • Nov 18, 2010 3:30pm Nov 18, 2010 3:30pm
Quoting MitchWorse
Keeping an eye on 200MA @ 1H

There just might be a bear wedge forming since Tuesday...
looks good, but... i don't know how to express this, but the bearish triangle... to be convincing, we should see rejections from the upper tl, not swings... but that's just me.
  • #328,719
  • Nov 18, 2010 3:34pm Nov 18, 2010 3:34pm
Quoting reaperunique
this is my M30 chart of eur/usd

It's not like I've lost half of my bank, I trade with less than 1% of my account(I think it's 0,8%).
okay, open up another chart in an M5 timeframe and draw the trendlines and support/resitances, then you can immediately see that 10 minutes ago there was a relatively low risk opportunity to go short as a scalp.
personally, i don't really like the m30, i can see more on m5, 15, H1 and H4 for intraday. you will need them all basically.

until you have a feeling for the timeframes, and a conviction concerning the trade you want to take, just trade 1000 units for example with a 25 pip sl on m5 when things line up.
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  • #328,720
  • Nov 18, 2010 3:36pm Nov 18, 2010 3:36pm
Quoting cloggie
You are not scalping shorts are you? The only tradeable trades out there right now are small long scalps of mini supports edging to the top, intraday NY top has to give first. IF the NY top holds then you can scalp some shorts, until then follow the herd.

Top failed, some short scalps for the taking coming up here.
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