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  • #371,001
  • Jan 24, 2011 7:12am Jan 24, 2011 7:12am
Quoting Mr Hatch
but beware of a fix in a couple of minutes
wait for that to settle.
i just turned away from my fxopen platform, turned back, and in a couple of minutes - man, you're right.

this shit is moving fast.
  • #371,002
  • Jan 24, 2011 7:12am Jan 24, 2011 7:12am
5m supports are now at 3570, 3563 and 3552.. the resistance at upside are 3588, 3604 and 3617..
  • #371,003
  • Jan 24, 2011 7:12am Jan 24, 2011 7:12am
Quoting qwertymyfx
lol, what a shit martingale EA you have there.
it's a first manufacturing plant to me.
  • #371,004
  • Jan 24, 2011 7:13am Jan 24, 2011 7:13am
looks like a good fade. 1.3577 pending sell. 1.363 SL
  • #371,005
  • Jan 24, 2011 7:13am Jan 24, 2011 7:13am
Quoting buonvangvn
it's a first manufacturing plant to me.
nice bait for newbies, i'll give you that.
  • #371,006
  • Jan 24, 2011 7:13am Jan 24, 2011 7:13am
[quote=masterpulha;4338161]hi all, im new here in the blog and in the Forex world, i have a lot of luck in the beginning and won in 2 days 200% the money i invested.. but i lose it all again

Now im following some of your advices and the day its going ok, i was wondering if you can recommend me a site or a book like "Forex for starters or dummies or noobies" so i can learn more about the basics of trading Forex.

http://www.babypips.com/school/
I have no enemy; I make Incautiousness my Enemy.
  • #371,007
  • Jan 24, 2011 7:15am Jan 24, 2011 7:15am
[quote=masterpulha;4338161]wondering if you can recommend me a site or a book like "Forex for starters or dummies or noobies" so i can learn more about the basics of trading Forex.


Thank you all.

babypips.com -----> school
  • #371,008
  • Jan 24, 2011 7:16am Jan 24, 2011 7:16am
Quoting nooblaster
looks like a good fade. 1.3577 pending sell. 1.363 SL
target 3500 or what? : /
Hero calls followed by margin calls...
  • #371,009
  • Jan 24, 2011 7:16am Jan 24, 2011 7:16am
Quoting red2010
thanks

i agree that making mistakes for yourself is the best way to learn.

but settling with one system/edge and then trying to perfect it is what im finding hard.

i know that most indicators are rubbish so after reading/researching for a year i think PA, trendlines, S/R and maybe a few ma's for direction (or floating s/r) are the main things i want on my charts.

but i have been trying to create a system with rules by using the above (PA, trendlines, s/r, ma's) and thats the hard part. so then i read other peoples posts on here to see how they...
No worries. When I started to watch this thread I started to lose money as I found so many ways of trading and I wanted to aplly them all.
After some time it'll settle down and you will find what you like a what fit your personality. Somebody needs a chart full of other stuff like trendlines, fibo tools, arrows, all kind of indis... somebody needs just clean chart with price only. Somebody likes 5M, somebody H1 or higher..

Just my 2 cents.
Cheers
Follow my trading on Twitter and FB: @pumlitch
  • #371,010
  • Jan 24, 2011 7:17am Jan 24, 2011 7:17am
Quoting Shah22
5m supports are now at 3570, 3563 and 3552.. the resistance at upside are 3588, 3604 and 3617..
This is a range day. No clear trend. I dont like trading ranges and i dont like to scalp either.

EU is bullish as long as a round number support 1.3450 is holding firm.
  • #371,011
  • Jan 24, 2011 7:19am Jan 24, 2011 7:19am
3600 in play, short scalps there
Hero calls followed by margin calls...
  • #371,012
  • Jan 24, 2011 7:20am Jan 24, 2011 7:20am
Quoting Pumlitch
No worries. When I started to watch this thread I started to lose money as I found so many ways of trading and I wanted to aplly them all.
After some time it'll settle down and you will find what you like a what fit your personality. Somebody needs a chart full of other stuff like trendlines, fibo tools, arrows, all kind of indis... somebody needs just clean chart with price only. Somebody likes 5M, somebody H1 or higher..

Just my 2 cents.
Cheers
m1-m5 scalping
m15 ( 20-25 pip scalping to 1 full session)
m30 intraday
h1 intraday
h4 swing
daily swing

weekly+ longer term trading.

Zoom in for a precision to trigger an entry. Zoom out for a clearer view of longer term s/r.
  • #371,013
  • Jan 24, 2011 7:21am Jan 24, 2011 7:21am
Quoting T@rantula
This is a range day. No clear trend. I dont like trading ranges and i dont like to scalp either.

EU is bullish as long as a round number support 1.3450 is holding firm.
Agreed thats why i didnt pick the trade for 50-60 pips.. because of the range.. i just catch 10-15 pips only on my levels..scalping to catch some pips that is good..

Still with bulls.. my support is 3423.
  • #371,014
  • Jan 24, 2011 7:22am Jan 24, 2011 7:22am
Quoting PayTheLimit
long 3573, sl 3538, tp 3603...
sl 3550 now...
Look Sharp/Trade Tight
  • #371,015
  • Edited 7:33am Jan 24, 2011 7:22am | Edited 7:33am
Nice to see movements , long to see if pullback or not .execting one 5th wave up .as entry not enough down , may close 3605-12 for the pullback towards 3576-54 & again long after .
fontu
Attached Image (click to enlarge)
Click to Enlarge Name: eu2.gif Size: 8 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #371,016
  • Jan 24, 2011 7:23am Jan 24, 2011 7:23am
Quoting PhAnTi'
target 3500 or what? : /
omg. it shoots up like a rocket. if it closes above 1.3595 im out.
  • #371,017
  • Jan 24, 2011 7:24am Jan 24, 2011 7:24am
Quoting T@rantula
There are some useful indicators that can help. Those are "not standard" indicators that give you entry/exit point. U need to vcombine with PA.

QQA, all MAs above all.
thanks

i was looking at combining macd divergence, with PA, S/R and candle stick patterns. as when you get a retest of s/r divergence is a good way of spotting how strong the retest is (i think)

but then knowing what tool and what settings to use to find the divergence just made me more confused so i dropped it.

"fudomyo" uses a indicator and divergence is a big part of his trading tools for his system/style. but i found his indicator hard to use/set-up and it seemed to determine divergence completely backwards to how everybody else teaches it!

are there any other "non-standard" indicators you can recommend to me?
  • #371,018
  • Jan 24, 2011 7:27am Jan 24, 2011 7:27am
Quoting Shah22
Agreed thats why i didnt pick the trade for 50-60 pips.. because of the range.. i just catch 10-15 pips only on my levels..scalping to catch some pips that is good..

Still with bulls.. my support is 3423.
Well as i am basically a trend follower on intraday basis I dont like to trade below 40 pips profit.

Although scaling out can be done at 20 pips if no clear trend.

I remember u had some good scalps...
  • #371,019
  • Jan 24, 2011 7:29am Jan 24, 2011 7:29am
Quoting red2010
Thanks for the replies everyone, i dont know how to do mulit-quote on here, but appreciate the help!




i actually left out fibs as i dont understand how they can be used properly. i guess if im already trading the orginal trend i can use them for profit taking.

but if im not in a trade and have a fib drawn on daily tf (for example) then how can it help with entries?

also, i thought, where the fib is drawn from is very subjective to each trader. meaning that not every trader might draw his fib on the daily tf or not every trader might...
There are pretty obvious places to plot your fibs if you simply look to swing high/lows. I'll give you an example:
Bring up a Daily chart for EU, draw a fib from the low 1.1875 to the next high 1.3333. Look where the price then retraced to.
For potential targets from there, plot a fibo expansion across the same price range and you will see where the price then went.

Now imagine you're able to do this as the price moves occur. Look out for posts here by the likes of Piters and PipChick; they know their stuff.
  • #371,020
  • Jan 24, 2011 7:30am Jan 24, 2011 7:30am
Quoting mercy seat
http://cdn.forexfactory.com/images/attach/pdf.gif 2011-01-24_00h37_ASIA DAILY FOREX OUTLOOK - Majors.pdf (10.9 KB)


ASIA DAILY FOREX OUTLOOK - Majors
24 Jan 2011, 00:37

SINGAPORE (Dow Jones)--Following are expected trading ranges and outlooks for nine major currency pairs today:



EUR/USD - to consolidate with bullish bias. Pair buoyed by hawkish rhetoric on inflation from ECB chief Trichet in interview...

http://cdn.forexfactory.com/images/attach/pdf.gif 2011-01-24_08h18_European Forex Technicals - EURUSD Extending Uptrend.pdf (9.0 KB)



European Forex Technicals: EUR/USD Extending Uptrend
24 Jan 2011, 08:18
By Francis Bray
A DOW JONES NEWSWIRES COLUMN



Intraday EUR/USD: The powerful uptrend is showing no sign of abating, and has scope to extend above Monday's current session high at 1.3648. While corrective weakness is limited to the 1.3500 projected support area, a break above 1.3648 is expected to meet the wave equality target at 1.3692. Only below 1.3500 would cause concern, and prompt further weakness towards 1.3396.

Weekly chart EUR/USD trend: Bullish.



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File Type: pdf 2011-01-24_08h18_European Forex Technicals - EURUSD Extending Uptrend.pdf   9 KB | 465 downloads
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