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EURUSD

  • #364,081
  • Jan 13, 2011 8:43am Jan 13, 2011 8:43am
I don't know but one thing I learned in the military. The best of the best are always willing to learn and the ones who act like they know it all are often the ones who need the most help.

Just saying ... No matter how shiny the glass, cracks are the most visible.
  • #364,082
  • Jan 13, 2011 8:46am Jan 13, 2011 8:46am
Quoting Hda
I asked you all to wait until after the options 10am Expiry to short the EUR/USD - Im sitting here still wait on 10am to go short. Im also waiting on a candle stick formation on the 30min to go short at 10am -

If I dont get that confirmation then I have to wait a little longer.

We have just breached the backside of the downward sloping trendline on the daily chart. We are at a 786 retrace - 18mins togo for confirmation to short.

We are still in a downtrend on the daily, this is the retrace.

I wont short without confirmation. I have to wait...
I watched the options expiries as you posted the last days.
I think 10 am may indeed be a great opportunity to short for a retracement. I iwll watch that closely.
  • #364,083
  • Jan 13, 2011 8:48am Jan 13, 2011 8:48am
Quoting Hda
We are still in a downtrend on the daily, this is the retrace.
Yes exactly.3400-3430 is the level to watch out for. Above that 3496 could be retested.

Bears are endangered above that level.

One of the reasons I was short intraday is ofcourse daily trendline and we are still in downtrend.

The point is to have a really good r:r ratio. Cut ur losses and expand your profits.
  • #364,084
  • Jan 13, 2011 8:48am Jan 13, 2011 8:48am
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
aw man, the one day I want to enjoy regular sleep hours, I miss a nice 150+ pip move to my bias side.

shucks
  • #364,085
  • Jan 13, 2011 8:49am Jan 13, 2011 8:49am
Quoting Hda
I asked you all to wait until after the options 10am Expiry to short the EUR/USD - Im sitting here still wait on 10am to go short. Im also waiting on a candle stick formation on the 30min to go short at 10am -

If I dont get that confirmation then I have to wait a little longer.

We have just breached the backside of the downward sloping trendline on the daily chart. We are at a 786 retrace - 18mins togo for confirmation to short.

We are still in a downtrend on the daily, this is the retrace.

I wont short without confirmation. I have...
Really appreciating this HDA.... gonna add the Option Expiry thing to my Fundy list of things to check.
A pip is only worth it if you know how much you risked to earn it
  • #364,086
  • Jan 13, 2011 8:50am Jan 13, 2011 8:50am
could someone please post a eurx chart?
Hero calls followed by margin calls...
  • #364,087
  • Jan 13, 2011 8:50am Jan 13, 2011 8:50am
http://www.forexfactory.com/showthre...65#post4309465
http://cdn.forexfactory.com/attachme...7&d=1294919288
  • #364,088
  • Jan 13, 2011 8:50am Jan 13, 2011 8:50am
Quoting furble
Cloggie you talk a lot about entries, but I think the exit is just as important and it isn't discussed as much.

What's your exit strategy? You're up 400, which is a lot compared to the majority of people here that appear to be scalpers.

Do you scale out like Tarantula or do you just let it run until you read the market is going to turn?

thanks
furble

I do trade intraday on shorter TF's, this one is a position trade and I will hold it till price tells me differently, I am now watching this level here as we are close to the London close. I am expecting a retrace tonight during Asia with Franky giving us a fake in the morning and London continuing driving this up. If London fails to drive this further by midday tomorrow I may cover the trade. Not going to do so now, there is no way that NY is going to give up the London gains in its entirety, that just does not happen (only rarely) and Asia does not have the volume to bring it all the way back either. I have a few alarms set at price levels that will go of and wake me if the sh!t hits the fan, but overall I am still confident with the current intermediate trend and see nothing that makes me change my mind right now.
  • #364,089
  • Jan 13, 2011 8:51am Jan 13, 2011 8:51am
Quoting cloggie
Ain't never going to happen. I spend 20 years in the City among extremely profitable traders, none of them would ever contemplate sharing it.

But what would be the consequence if it did happen. Your post reads as though your belief is that the result would be negative.

I come from the school that if one person can do something well, it can be emulated for other people to uptake the skills at a unconscious level, enabling that individual to operate the system without having to process the information at a conscious level, ie like riding a bike or driving a car.

I have a strong feeling, although no evidence to back it up, that there are good people in this forum who trade for a living and would be classed as successful. By these individuals posting their charts and ideas spurs me on, that if they can do it, then so can I.

If we all believe we are muppets and this is difficult, then no wonder we will get a set of results that our less than we expected.

Lets get positive about this, we need to clear our minds of all the junk going on and hone in on the individuals here who are prepared to help out others in a positive way.

I await your detailed description as to why specifically this thread is not for learning. Usually during the afternoons there are close to 1000 people listening to what is being said, again without evidence, I do feel that these people are here to learn, either by sharing ideas or thoughts. We are only human after all.
  • #364,090
  • Jan 13, 2011 8:51am Jan 13, 2011 8:51am
Quoting Ulterior
Cloggie, if you have ( as I believe so ) a successful strategy that doesnt meen that givven it to any body he would be successful too. Everything counts when trading - psychology, skills, talents and a grain of mechanics.

People here expect everything served on a silver plate, as if a thousand indicators would help them...
Ahh... one of the greatest moments in my trading career. Removing all that crap from a chart. My w/l ratio instantly went up from 50% to 75% once I got rid of all the indicators (and got over the initial freakishness of a naked chart) hehe.

Still batting 100% this month, pretty proud of that so far. If price is going up, buy, if price is going down, sell... we make this too hard.
  • #364,091
  • Jan 13, 2011 8:53am Jan 13, 2011 8:53am
Quoting ukdaytrader
No one should expect Cloggie or anyone else to share their strategy. The only things which should be demanded are curtesy and respect.
correct, you shouldnt expect anyone to share. but you'll never know unless you ask
  • #364,092
  • Jan 13, 2011 8:55am Jan 13, 2011 8:55am
Quoting T@rantula
I also longed GPBJPY 130.69 eith 131.40-89 target price in mind.

Dont have the time to watch it now.
Closed. + 65.

The beast has been tamed.
  • #364,093
  • Jan 13, 2011 8:55am Jan 13, 2011 8:55am
about ludicrous times http://lusitanaehabilitas.blogspot.c...ld-be-and.html

Yesterday I said : I HAVE SOLD ALL MY DOLLARS.

But yet I see some shorting the Euro.
  • #364,094
  • Jan 13, 2011 8:56am Jan 13, 2011 8:56am
Quoting Decimal
But what would be the consequence if it did happen. Your post reads as though your belief is that the result would be negative.
Yes it would be negative. I have worked for many a big house and smaller boutique funds for decades and we spend more money a year on finetuning and designing models and strategies then we did on trading, you constantly need to develop your systems/strategies/methods to continually have an edge, without an edge you will lose your advantage. If you share your strategy others will front run it in anticipation and will take profit right before you do, dulling your edge.

Sharing in trading is the beginning of the end. The whole point of success is being slightly better then the next guy, that is what gives you your edge and your profits.

Look at some of the early commercial EA's, they worked for a bit and then blow up as they lose their edge. Every EA trader knows that eventually his/her EA will stop unless it is continuously developed and altered to keep up with a changing market.

The basics will always remain the same and the edge becomes harder and harder with the continued dominance of the HFT's

Sharing in trading is not an option, if you want to share, share the proceeds of your work, not the work itself.
  • #364,095
  • Jan 13, 2011 8:56am Jan 13, 2011 8:56am
Watch out, something unexpected like ugly news may pop out from somewhere.

Happened too many times when rally/sell-off gets big.
They think they are smarter than I am.
  • #364,096
  • Jan 13, 2011 8:57am Jan 13, 2011 8:57am
Quoting Venice
Ahh... one of the greatest moments in my trading career. Removing all that crap from a chart. My w/l ratio instantly went up from 50% to 75% once I got rid of all the indicators (and got over the initial freakishness of a naked chart) hehe.

Still batting 100% this month, pretty proud of that so far. If price is going up, buy, if price is going down, sell... we make this too hard.
Couldnt agree more, to much complications
  • #364,097
  • Jan 13, 2011 8:57am Jan 13, 2011 8:57am
Quoting T@rantula
Yes exactly.3400-3430 is the level to watch out for. Above that 3496 could be retested.

Bears are endangered above that level.

One of the reasons I was short intraday is ofcourse daily trendline and we are still in downtrend.

The point is to have a really good r:r ratio. Cut ur losses and expand your profits.
You are correct indeed and this is why we have to have nerves of steel to be patient before taking the plunge, we have to wait for confirmation. as it looks right now as I am typing this, with 3 mins to go, I will not get a candle stick formation so I cannot go short. I have to wait and watch the levels
  • #364,098
  • Jan 13, 2011 8:59am Jan 13, 2011 8:59am
stopped at SL... but still think it was a good try.. 7/10 this is working... I am out for today... Now it passed 61,8 and 78,6 fibo... will wait till next week .

Good luck trading to all

Quoting vlady1974
Just IMHO that TL on the 1H has just been breached.
Based on Fundie news with Asia propping up EUR... I think we're now seeing a change in bias LONG. But a new retrace is likely. Not sure if it will be 200pips though. Potentially 100.
  • #364,099
  • Jan 13, 2011 9:01am Jan 13, 2011 9:01am
1.3330 - let's the big sell off begins
  • #364,100
  • Jan 13, 2011 9:01am Jan 13, 2011 9:01am
No CONFIRMATION cannot short have to wait now until 10:30 or 11am
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