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  • #358,941
  • Jan 5, 2011 9:18am Jan 5, 2011 9:18am
Quoting cloggie
Pips is still money, your mind will still convert that. Start thinking about percentages, that's what this business is really about (NAV really). Overtrading will kill any account. 9% a week is a decent number, no need to rush this and become a millionaire overnight.
Hi cloggie,

very good insight...

Happy New Year..
  • #358,942
  • Jan 5, 2011 9:19am Jan 5, 2011 9:19am
Its gonna touch SL level for lots of bulls, we gonna DROP after 1.312x
  • #358,943
  • Jan 5, 2011 9:19am Jan 5, 2011 9:19am
Quoting gatorinla
0
i think we need a war to make that happen. and some treaty of versailles.
  • #358,944
  • Jan 5, 2011 9:20am Jan 5, 2011 9:20am
Quoting stevexyg
Not directed specifically at you T@rantula but a lot of people bang on about indis being the past, historic, useless. What do you think your candles are?! They are all showing historic data too. All the info in an indi comes directly from PA as does all the historical info on your chart candles.

There is no such thing as using PA to trade. That would involve setting you chart history to ONE candle. If you use more than ONE candle on your charts, draw a trend line or support line then you are using historical data - just like any indi.

In the first line it is all about emotions, fear, greed. Indis can stay longer in overbought/oversold regions than one can stay solvent.

Speaking of candles: candles, when used properly, can be seen as a kind of sentiment indicator, and for the recent candle as a real time indicator.

Using pure price action models like Murrey Math, Fibonacci, Support/Resistance, maybe Elliott Wave, to name a few, is straight forward. Yes, all methods need some data from history, otherwise you would have the ability to read the crystal ball.
  • #358,945
  • Jan 5, 2011 9:20am Jan 5, 2011 9:20am
out with 27.. waiting for another bounce.
those who can, do. those who cant, talk about those who can
  • #358,946
  • Jan 5, 2011 9:20am Jan 5, 2011 9:20am
Quoting cloggie
Pips is still money, your mind will still convert that. Start thinking about percentages, that's what this business is really about (NAV really). Overtrading will kill any account. 9% a week is a decent number, no need to rush this and become a millionaire overnight.
i have played with excel a bit. a mathematical experiment making 10 pips everyday for 3 years, risking 1%.
1000$ to above 2.2million.

but you need serious balls for this.
  • #358,947
  • Jan 5, 2011 9:20am Jan 5, 2011 9:20am
sell after sell.... since yesterday from 3400... i am getting tired of this.. i cant believe someone was suggesting a bull flag on the 5min chart and to go long yesterday (sorry you know who you are)...
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  • #358,948
  • Jan 5, 2011 9:20am Jan 5, 2011 9:20am
Quoting piptornado
wow, reading some posts here, traders make in the hundreds of pips a day!

I made 27 yesterday on one trade, 48 today on one trade. I feel like the ugly little brother LOL

Guess I have a loooong way to go.....

Don't worry.... u see everybody TELLING u that they make 1000 pips per day.. but they don't tell u when they lose. Don't forget that words are words, and 90% of traders lose money, and that is a fact!
I don't want a job, i want money!
  • #358,949
  • Jan 5, 2011 9:21am Jan 5, 2011 9:21am
During Christmas and the 2 days after I got in a very irresponsible long trade USD/YEN. I was drunk when I got into it.
I was in way to high for my account.
During year change I was close to a margin call.

BUT TODAY AFTER ADP EMPLOYMENT REPORT I CASHED IN AND I HAD MY BIGGEST WIN EVER IN A WEEK

I hope I will never make such a trade anymore because it is not good for my heart and my nerves.

But LOL Today I'm very happy.
I'm gonna take a break for a few hours before I even consider trading.

Shamu
New voice message: Why are you calling me? If I need you, I'll call you!
  • #358,950
  • Jan 5, 2011 9:21am Jan 5, 2011 9:21am
The 1 hr bullish divergence which was building earlier has now been invalidated. There is however a nice hidden bullish divergence on the 4hr TF.
I'm certainly not bullish right now, but it's something to keep an eye on.
  • #358,951
  • Jan 5, 2011 9:22am Jan 5, 2011 9:22am
some pips to go

clogg wormy gator hatch samd damm all of the room u did great today
  • #358,952
  • Jan 5, 2011 9:22am Jan 5, 2011 9:22am
Quoting cloggie
Pips is still money, your mind will still convert that. Start thinking about percentages, that's what this business is really about (NAV really). Overtrading will kill any account. 9% a week is a decent number, no need to rush this and become a millionaire overnight.
not looking to become one overnight, believe me those days are over, and had a rude awakening early in my quest.

Thanks for the advice, just to clear it up, I should think about a daily percentage goal in $ and shoot for that instead of pips?
  • #358,953
  • Jan 5, 2011 9:23am Jan 5, 2011 9:23am
Quoting Driver55
USDCHF short 9662

USDCHF Short @ .96718
  • #358,954
  • Jan 5, 2011 9:23am Jan 5, 2011 9:23am
Specially big timeframes is telling us to short only, sometimes short time frames are misleading, and of course taking into consideration the overall bad news coming from Europe.

Quoting Hda
Samara: you are absolutely right, sometimes the entry is too high or too low depending on the trend and you have to jump back in to compensate ( average out )
FUNDAMENTALS COME FIRST...
  • #358,955
  • Jan 5, 2011 9:24am Jan 5, 2011 9:24am
Quoting kill56
some pips to go

clogg wormy gator hatch samd damm all of the room u did a great today
thanks, and if i see anyone posting a short entry here, i'll go ballistic.
  • #358,956
  • Jan 5, 2011 9:24am Jan 5, 2011 9:24am
Quoting piptornado
not looking to become one overnight, believe me those days are over, and had a rude awakening early in my quest.

Thanks for the advice, just to clear it up, I should think about a daily percentage goal in $ and shoot for that instead of pips?

Monthly is the only number that interests me. The rest is just window dressing.
  • #358,957
  • Jan 5, 2011 9:24am Jan 5, 2011 9:24am
Quoting wormboy
I have a major @3166. Below that & I'll have my steak well done
floor is now ceiling. leaving the remainder to work. ta!
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Thank You
  • #358,958
  • Jan 5, 2011 9:26am Jan 5, 2011 9:26am
Quoting kill56
some pips to go

clogg wormy gator hatch samd damm all of the room u did great today
you too brother
see you tomorrow!
Thank You
  • #358,959
  • Jan 5, 2011 9:26am Jan 5, 2011 9:26am
Quoting Hda
1.3080 is the target for today
I trust you , then I will be holding my shorts
FUNDAMENTALS COME FIRST...
  • #358,960
  • Jan 5, 2011 9:27am Jan 5, 2011 9:27am
We are touching major daily trend line. If we break it, its a PLUNGE to 1.30xx area for sure, possibly 1.267x is next.
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