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EURUSD

  • #353,141
  • Dec 28, 2010 11:50am Dec 28, 2010 11:50am
indi i am testing info back plz
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  • #353,142
  • Dec 28, 2010 11:51am Dec 28, 2010 11:51am
Quoting Hda
PITERS:

You are again correct and we are wired differently, each of us. I tried scalping in my formitive years, but it was to emotional and it takes constant monitoring. I prefer to see the perfect set up on a 3 hour, which requires alot of patience and then take the trade, entering on a 30 minute, being aware of strong support and resist for the back up plan and also the exit.

That in turn requires less monitoring.
Cool

I have no problem with monitoring ..
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  • #353,143
  • Dec 28, 2010 11:53am Dec 28, 2010 11:53am
in the morning everyone was yelling 1.33 and above. i entered short at 3266 and got only a scalp out of this huge move. sad... but that life.

now everyone is yelling 1.28 and below. i am long from 1.3115.

hmmmmmmm... guess someone is wrong here... looking at my balance... it's me!

when will i stop countertrending?

i see i am getting better at identifying S/R but why do i always tend to pick reversals...

technically speaking: F*ck me! LOL

and i still got a long entered at 1.3150... wonder if we will get there...
dreams do come true.
  • #353,144
  • Dec 28, 2010 11:56am Dec 28, 2010 11:56am
u monitor 10 times more than i do! maybe that's what i am missing

Quoting Piters
Cool

I have no problem with monitoring ..
dreams do come true.
  • #353,145
  • Dec 28, 2010 11:57am Dec 28, 2010 11:57am
Quoting wannaberich
in the morning everyone was yelling 1.33 and above. i entered short at 3266 and got only a scalp out of this huge move. sad... but that life.

now everyone is yelling 1.28 and below. i am long from 1.3115.

hmmmmmmm... guess someone is wrong here... looking at my balance... it's me!

when will i stop countertrending?

i see i am getting better at identifying S/R but why do i always tend to pick reversals...

technically speaking: F*ck me! LOL

and i still got a long entered at 1.3150... wonder if we will get there...
dammmmmm u are the man best of luck my sl was @13303
  • #353,146
  • Dec 28, 2010 11:57am Dec 28, 2010 11:57am
Quoting wannaberich
Hi Hda,

i don't find myself as a scalper. day trader more like it. although i do scalp some times i try to limit my trades as i sometimes tend to overtrade. the way i see it scalpers aim for less than 10 pips per trade many times per day. i aim for a couple of trades 30-40 pips average.

right now long countertrend for 25 pips from 3115 to 3140.

as u said on the pm u sent, one has to find what trading style suites us best. have a draw down of 150 pips is, at least now, too much for me to handle. maybe i will change my mind in the future, maybe...
Wannaberich:

One of my biggest challenges when I first started out was greed. Over time, Ive accepted that any trade that gives me a profit is good enough. Its like flying a plane, any landing that you walk away from is a good landing, even if you crashed.

Any trade I walk away from with a profit is a good trade irrespective of the amount made. The 30 to 40 pips you make are excellent on a daily basis, it requires though, alot of monitoring and analysis. What can happen inturn is, most times you can be wrong, hopefully your stops are tight.

I completely respect your point of view and hope as you continue to hone your craft, your decision making gets better and better.
  • #353,147
  • Dec 28, 2010 11:59am Dec 28, 2010 11:59am
Quoting Piters
Cool

I have no problem with monitoring ..

lol u must have 10 eyes i have 8 only
  • #353,148
  • Dec 28, 2010 12:01pm Dec 28, 2010 12:01pm
wise man let go cable and fiber are u long this time digg is not here it must be u
  • #353,149
  • Dec 28, 2010 12:01pm Dec 28, 2010 12:01pm
Quoting Piters
Cool

I have no problem with monitoring ..
So, the black screen, turned off for the shot...
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #353,150
  • Dec 28, 2010 12:02pm Dec 28, 2010 12:02pm
one has to entertain oneself LOL

Quoting Magix
So, the black screen, turned off for the shot...
dreams do come true.
  • #353,151
  • Dec 28, 2010 12:03pm Dec 28, 2010 12:03pm
Quoting Magix
So, the black screen, turned off for the shot...

damm leave the guy alone sure u have 20 eyes
  • #353,152
  • Dec 28, 2010 12:03pm Dec 28, 2010 12:03pm
Quoting Magix
So, the black screen, turned off for the shot...
yeap.. that's the ONE .. [XXX]
  • #353,153
  • Dec 28, 2010 12:05pm Dec 28, 2010 12:05pm
Quoting wannaberich
one has to entertain oneself LOL

  • #353,154
  • Dec 28, 2010 12:05pm Dec 28, 2010 12:05pm
Quoting Piters
yeap.. that's the ONE .. [XXX]
You sir are a better man then I...with that many monitors, I would still only have one committed to charts.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #353,155
  • Dec 28, 2010 12:05pm Dec 28, 2010 12:05pm
the man or lucky. either would be fine.

still loosing here... and consistently... but i won't give up. i will get there: broke, dead or rich, let's see which one comes first! LOL

green pips, Kill



Quoting kill56
dammmmmm u are the man best of luck my sl was @13303
dreams do come true.
  • #353,156
  • Dec 28, 2010 12:07pm Dec 28, 2010 12:07pm
Quoting wannaberich
in the morning everyone was yelling 1.33 and above. i entered short at 3266 and got only a scalp out of this huge move. sad... but that life.

now everyone is yelling 1.28 and below. i am long from 1.3115.

hmmmmmmm... guess someone is wrong here... looking at my balance... it's me!

when will i stop countertrending?

i see i am getting better at identifying S/R but why do i always tend to pick reversals...

technically speaking: F*ck me! LOL

and i still got a long entered at 1.3150... wonder if we will get there...
I was going to sign of, but changed my mind (as usual)

Today is all about the fundamentals. The ECB buys up peripheral debt (Spain, Portugal, Ireland, Greece) on a weekly basis to artificially keep the rates down and avoid a meltdown, however as it has no fiscal mandate it cannot print money, unlike the FED, so to balance the books it offers bids to commercial banks a week later to take the cash out of the system. The banks in turn will have to give up liquidity if they want to take the ECB up on its offer, the banks park some of their cash with the ECB and gets a return on the cash. Taking cash out of the system in that matter assures that there is no increase on the supply side. Increasing the supply side means that the value of the underlying currency will decrease, kind of like a farmer having a bumper crop, it only means that the supply is increasing and in a balanced market will drive the price down.

Today, the banks did not take the ECB up on its offer so there is an excess in the supply side of money to the tune of 13Bn, that in effect means that there is more money sloshing around in the system, so the value of it goes down.

The question now is whether the banks are no longer interested in offsetting the bond purchases of the ECB, whether the ECB need to sweeten the pot to entice the banks or whether it is just a blip in the system as the banks are unwilling to part with liquidity as it is Christmas/New year and they like to remain more liquid at this time of year.

The next purchase round of the ECB and the auction to take the cash out will be the teller of what is going on here.

As to seeing 3150, that is not going to be likely here. The market has made up its mind, the fundamentals are too strong to ignore right now and as the markets are less liquid, there is not a lot of appetite for euros this week.


Now I am signing of.
  • #353,157
  • Dec 28, 2010 12:09pm Dec 28, 2010 12:09pm
Quoting Magix
So, the black screen, turned off for the shot...
nice setup
  • #353,158
  • Dec 28, 2010 12:09pm Dec 28, 2010 12:09pm
Quoting wannaberich
in the morning everyone was yelling 1.33 and above. i entered short at 3266 and got only a scalp out of this huge move. sad... but that life.

now everyone is yelling 1.28 and below. i am long from 1.3115.

hmmmmmmm... guess someone is wrong here... looking at my balance... it's me!

when will i stop countertrending?

i see i am getting better at identifying S/R but why do i always tend to pick reversals...

technically speaking: F*ck me! LOL

and i still got a long entered at 1.3150... wonder if we will get there...
Wannaberich: Whats your stop loss for the 1.3115 entry? I see there is some difficulty reaching your take profit of 1.3140.
  • #353,159
  • Dec 28, 2010 12:09pm Dec 28, 2010 12:09pm
of putting a monitor behind me. since the 2 eyes i have in my face don't show me how to make money maybe the other would

but then i realized i wouldn't want to make money with that one LOL
dreams do come true.
  • #353,160
  • Dec 28, 2010 12:10pm Dec 28, 2010 12:10pm
Quoting Piters
Cool

I have no problem with monitoring ..

that is some system!
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