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  • #352,481
  • Dec 27, 2010 9:27am Dec 27, 2010 9:27am
thoug shorting a leg down but not to forget price try bouncing with a round bottom , slow but sustain up.so C leg may be short cut too.
fonu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #352,482
  • Dec 27, 2010 9:27am Dec 27, 2010 9:27am
LOL

no disrespect meant, but i hope that for a change your not right!

it's "digging" up but with no real strength. although i trade based on the 15m i look down to 5m to look for details and 5m shows me vol on the down candles. sellers accumulating on my book.

wouldn't want to argue with u as i know u are a far better trader than me but i am keeping it for now.

and thanks for the advice even if not taken

Quoting cloggie
Before the open, I thought NY would sell this, but the open pretty much changed my bias and told me no-go. Right now I would not be holding a short, but it is your strategy and your money, not mine. I am flat. If I would be trading, I would be looking at the long side, based on the current PA.
dreams do come true.
  • #352,483
  • Dec 27, 2010 9:28am Dec 27, 2010 9:28am
Quoting wannaberich
but i hope that for a change your not right!

That would be a rarity indeed.
  • #352,484
  • Dec 27, 2010 9:30am Dec 27, 2010 9:30am
Starting to get a nice bear candle forming...god i hope it's a nice strong move down so I can feel better and minimize the loss from this position.
  • #352,485
  • Dec 27, 2010 9:31am Dec 27, 2010 9:31am
LOL

could be the exception that confirms the rule (it's a saying we have, don't know if u guys on the other side of the ocean, have something like it!)


Quoting cloggie
That would be a rarity indeed.
dreams do come true.
  • #352,486
  • Dec 27, 2010 9:33am Dec 27, 2010 9:33am
[quote=BackTestDummy;4267437]
Quoting malcolmb14

so you have deleted it.......

I don't post trade calls because my wife and I are full time traders, and those of us that trade for a living don't have the time and don't need to strut around telling everyone how good we are.

I sometimes make observations - I don't think there are any rules against that. Sometimes it can be considered useful when someone stands up to the playground bully - of which there are many here on FF.

I still can't believe you deleted that post....
I found your post to be interesting with regard to your comments.

I joined this forum recently and after being asked by some posters here to assist them in understanding the markets from a fundamental point of view only using technicals for entry and exitand naturally the usual crowd on Forex Factory start off by having the need for you to post charts or make calls.

When you don't agree with their personal agenda then their frustation is directed at the object of their scorn since Forex Factory is their playground to massage their ego.

Some of them actually are good traders with trading experience. As you suggested by your comments full time traders have more important ways to use their time.

In my case I keep a trading journal and only trade using a trade plan. I do not trade just to trade. There are times to trade in the 24 hour period that puts the odds in your favour.

From 7:00 PM EST to Midnight I usually am not in the market. I watch the retail traders set themselves up for losses by trading in the direction of the charts. For the time being I am only trading EUR/USD on the short side.

The high in EUR/USD was 1.31708 on my FXCM UK platform and I will not make a trade unless it tests 1.3175

One of the major charting services has closed their short and now is waiting for a break over 1.3183 and then will go long to 1.3400

The charts have a purpose especially knowing where everyone else will move on it. Now let's say that the Dow turns from negative now to positive then EUR/USD will go over 1.3183 and the call WILL THEN STAND AND MANY FOLLOWING THE CALL WILL GO LONG.

Then when the China rate hike is factored in which the market has not yet had a chance to do because of holidays and snow storms direction might change.

The point being where the money flows for reasons of supply and demand for the known reasons by the parties buying or selling the various asset classes then the money flow always moves the charts and voila the chart callers reverse their call.

It happens all the time. Patterns repeat at various times of the day.

Today there was an amazing move in the US Bonds as the Yield on the short term 2 Year US Bonds went from .65% to now .72% bases points and the Yield on the 10 Years is now 3.42% for a spread of 270 basis points.

Why is this ? By the way I am addressing others here as I am sure you understand what I am posting. The US Bonds are being sold and the Yields are going up automatically raising rates. The China raise in rates for the second time in three years was done because their inflation is 5.1% which was caused by the FED going to QE2 and monetizing the debt however it has backfired on the FED as rates are going up not down.

The US Bond market has already voted by the move in Yield. Now the real move will happen by the 15TH of January 2011.

Nice to make your acquaintence and good trading to you and your wife.
  • #352,487
  • Dec 27, 2010 9:36am Dec 27, 2010 9:36am
Quoting Hda
Wannaberich:

Position trading takes the emotion out of trading significantly. The psychological level below is 1.2800 - Sit tight.
Mate... lol 1.28 is far as 1.51 ... keep it simple.. take your pips today.. and dont worry about some psychological levels..
  • #352,488
  • Dec 27, 2010 9:38am Dec 27, 2010 9:38am
Quoting wannaberich
LOL

could be the exception that confirms the rule (it's a saying we have, don't know if u guys on the other side of the ocean, have something like it!)
open your 4h charts on EURCHF and EURUSD; 1h DX..
  • #352,489
  • Dec 27, 2010 9:42am Dec 27, 2010 9:42am
Quoting Forexpro30
I joined this forum recently and after being asked by some posters here to assist them in understanding the markets from a fundamental point of view only using technicals for entry and exitand naturally the usual crowd on Forex Factory start off by having the need for you to post charts or make calls.
Why do you keep saying that? You've been a member before. You know all about Forex Factory. Don't pretend you are new to all this.
Nothing worth having is easy.
  • #352,490
  • Dec 27, 2010 9:43am Dec 27, 2010 9:43am
Quoting wannaberich
LOL

could be the exception that confirms the rule (it's a saying we have, don't know if u guys on the other side of the ocean, have something like it!)
i was leaning to the bull before my nap st.. but atm 3166 may or less may just be a diving board. to 3026/30... as described earlier.
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those who can, do. those who cant, talk about those who can
  • #352,491
  • Dec 27, 2010 9:44am Dec 27, 2010 9:44am
Quoting Patience
Why do you keep saying that? You've been a member before. You know all about Forex Factory. Don't pretend you are new to all this.

Of course he was, he knew about acumen and Jacko within a week of being here. Just a spammer here to make some money out of the muppets. He can't hack it as a trader so has to make some dough as a fraudster, what is new.
  • #352,492
  • Dec 27, 2010 9:45am Dec 27, 2010 9:45am
... i've got 1.26! but i am a day trader so i never have trades open for longer periods than a day or two, at the most.

i always think that once i got my daily goal reached i can get into a trade with sl at be to "let roll". what happens is that i either "need" (and here need means that i want to close a day with my target met) the money and i end up banking that trade or it goes back to be after i have seen some 100 pips or more and end up thinking that it was a mistake no to bank that.

as of now i would for sure enter a trade for a scalp than for a positional trade and we need to know (at least to find what suites me best) all the "tools" available.

so i would really be interested in "understanding" the concept and fine tunning of positional trading, if u would share it.

thanks in advance.

Quoting Hda
Wannaberich:

Position trading takes the emotion out of trading significantly. The psychological level below is 1.2800 - Sit tight.
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dreams do come true.
  • #352,493
  • Dec 27, 2010 9:47am Dec 27, 2010 9:47am
Quoting cloggie
Got 3139-3157 now.

Range is working out pretty well, still nothing there for me to trade.
  • #352,494
  • Dec 27, 2010 9:47am Dec 27, 2010 9:47am


Quoting Piters
open your 4h charts on EURCHF and EURUSD; 1h DX..
dreams do come true.
  • #352,495
  • Dec 27, 2010 9:51am Dec 27, 2010 9:51am
i was just looking for 3116 for now. come to think of it i could be greedier!

readdressing TP as we speak!


Quoting gatorinla
i was leaning to the bull before my nap st.. but atm 3166 may or less may just be a diving board. to 3026/30... as described earlier.
dreams do come true.
  • #352,496
  • Edited 9:59am Dec 27, 2010 9:55am | Edited 9:59am
The Yield on the Two Year US Bonds now is at .73% and the Yield on the 10 Year US Bond is 3.42% and the spread is now 269 basis points.

I will explain what happens when the US Bonds are sold off as they trade in inverse relationship as US Bonds are sold off the Yields go up. The FED wanted to hold rates down for obvious reasons but it appears their Plan is not working. Bill Gross of Pimco fame has strongly suggested that what Bernake and Gang of 12 are doing is in effect a Ponzi scheme.

They are trying to create a weak US Dollar on the backs of China and now China is countering by raising their interest rates. They have no choice.

Commodities are going up because the FED is removing value from the US Dollar.

There are more FED Open Market Operations the rest of the week. The sales to the FED are trumping them as the US Bond Bubble appears to be busting.

The Benchmarks Set from 10:52 AM

EUR/USD 1.3149

EUR/JPY 108.93

USD/JPY 82.84

US Oil $90.91 Future

Gold $1,382.00 SPOT

Dow now down 29.40

EUR/USD holding in a narrow range now. My SAR indicator on a 5 Minute Chart just went RED as it dropped to 1.3142
  • #352,497
  • Edited 11:44am Dec 27, 2010 9:56am | Edited 11:44am
Quoting wannaberich
i was just looking for 3116 for now. come to think of it i could be greedier!

readdressing TP as we speak!
of course a hourly close below 37 or more would help. then another below 24 and so on,

Fonto.. we still got 18 m left. i still look for 3026 and 3030 area.. whenever its ready.
those who can, do. those who cant, talk about those who can
  • #352,498
  • Dec 27, 2010 9:57am Dec 27, 2010 9:57am
Quoting cloggie
Of course he was, he knew about acumen and Jacko within a week of being here. Just a spammer here to make some money out of the muppets. He can't hack it as a trader so has to make some dough as a fraudster, what is new.
Just annoys me that he keeps on pretending that he is new to Forex Factory when he isn't. A lot of faces have come and gone within the two years when he didn't post. And as for his commercial intentions .... well .....
Nothing worth having is easy.
  • #352,499
  • Dec 27, 2010 9:58am Dec 27, 2010 9:58am
Quoting wannaberich
... i've got 1.26! but i am a day trader so i never have trades open for longer periods than a day or two, at the most.

i always think that once i got my daily goal reached i can get into a trade with sl at be to "let roll". what happens is that i either "need" (and here need means that i want to close a day with my target met) the money and i end up banking that trade or it goes back to be after i have seen some 100 pips or more and end up thinking that it was a mistake no to bank that.

as of now i would for sure enter a trade for a scalp...
Wannaberich:

I agree with you. In reading your previous thread about doubt with regards to your current trade as to wether you were to exit, I was sharing with you the strength of the bias and that sitting tight has a high probability of paying off.

With respect to position trading, based on the size of your account, risk management will determine the amount of lots for entry as you scale into the market, cancel and replacing your stop and scaling out of the market taking your profits on the way down with the varying lots.

Taking your profits daily is an excellent idea and must be done. Never retrade your profits, realise those gains in your actual bank account and continue to trade your principal.

I will stop here, I dont want to use up too much space in the forum, I can continue with you privately if you dont have an objection.

Sit tight in that short trade
  • #352,500
  • Dec 27, 2010 9:59am Dec 27, 2010 9:59am
Quoting PayTheLimit
I wonder what the benchmarks are doing?

at last....
Look Sharp/Trade Tight
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