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  • #379,421
  • Edited 9:22pm Feb 3, 2011 9:21pm | Edited 9:22pm
Quoting capetown
I would like to add one more thing concern trading from " newbies " like I was a 4, 5 years ago and then later I needed to stop like You got on Your message.
I got to pair GBPJPY!!! Everyone told me , a lot of money and etc...good place to make money..everyone said a lot of pips..I change I trade NOW EURUSD, GBPUSD and that is it.. at this moment. Concentrate for two pairs and that is it for now...
Due to the fact of lack of time to trade, I have only two pair.
Marcel
Marcel

I only trade EUR/USD and USD/JPY and USD/CAD

Each pair has their own behaviour. There are plenty of opportunities to make money trading a few pairs. I am not trading USD/JPY now but watching it move EUR/JPY around which in turn moves EUR/USD in similar directions.

I tried to trade EUR/JPY years ago with bad results since I did not understand the relationship between EUR/USD and EUR/JPY.

Nice communicating with you.
  • #379,422
  • Feb 3, 2011 9:21pm Feb 3, 2011 9:21pm
Quoting Robert99
Twee really was gentle with the strap. When I posted the chart I did not notice the watermark. It was within seconds I got suspended before I could delete the post. Kill tried to help but it was too late. I am more careful now. Thanks for the comments.
Good evening Robert. You seem very familiar to me. Let me ponder for a while.
Nothing worth having is easy.
  • #379,423
  • Feb 3, 2011 9:22pm Feb 3, 2011 9:22pm
Quoting Robert99
Your thoughts on my posts. I was suspended by a senior member for posting a chart with a watermark on it. I just started posting again on February 1, 2011.
I got no idea where HDA went, I been mostly absent from this place myself...

Thoughts on your post...well, each trader has a different style and interpretation of daily movements, based on select price movement indication/indicators...

Taking a few shekles at a time or keeping your trades tight are viable trade strategies. Your thoughts were well composed and put together....

Vlady has from what I have read a mathematical approach to seeing what he wants to see in order to take his trade in the first place...I would certainly not try to steer any trader from a profitable strategy, but perhaps encourage the same ideas on entries for exits...

What are you looking for in a long trade?
What are you looking for in a short?

If you are inside of a trade, and it is working for you, why not hold onto this trade until you see reason to go against?

I am long until I am no longer longs...this is where I would go short....

If the analysis of the market movements are consistent enough, application of the same data in taking the trade should make sense for the exits as well...

On the getting sat in a corner for the watermark thang...pshhhhhhh....

Next time you post a chart, go into a rant, use profanity and call out the posers...really, if you are gunna go, go out in style!

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #379,424
  • Feb 3, 2011 9:23pm Feb 3, 2011 9:23pm
Quoting attila
sorry to butt in, but have you ever thought to turn everything on it's head? disregard the entries and focus on exits? you can never have a perfect entry and the reason is simple: if you are trading m15 for instance, and you want long, m5 could very well be at the top of it's move and your SL is taken out by the retrace on m5 or m1 for that matter. however after the lower TFs do their dance, the price start moving in your favor on your m15. unless you trade the 1 min, 30 seconds charts you can very rarely nail the entry. it's just a different para-dime...
Interesting idea. I'll give it some thought.
Cheers and thanks everyone for their input and discussion.

See you at London
Good night.
A pip is only worth it if you know how much you risked to earn it
  • #379,425
  • Feb 3, 2011 9:27pm Feb 3, 2011 9:27pm
Quoting attila
sorry to butt in, but have you ever thought to turn everything on it's head? disregard the entries and focus on exits? you can never have a perfect entry and the reason is simple: if you are trading m15 for instance, and you want long, m5 could very well be at the top of it's move and your SL is taken out by the retrace on m5 or m1 for that matter. however after the lower TFs do their dance, the price start moving in your favor on your m15. unless you trade the 1 min, 30 seconds charts you can very rarely nail the entry. it's just a different para-dime...
I trade using the 15 minute chart for the short term trend. Then I trade off the 5 minute chart when it hits the top of the Bollinger Band.

I do glance at the 1 minute chart and I also am aware of resistance and support levels.

Knowing where you want to exit is important surely. If I get a good entry I move my stop to lock in profits. That is why my batting average is over .600 and MVP of the National League. A little ego is healthy but just a little.
  • #379,426
  • Feb 3, 2011 9:28pm Feb 3, 2011 9:28pm
cmiiw, I notice that EU and GU always goes north on NFP, no matter what the result is. Any enlightening for this?
  • #379,427
  • Feb 3, 2011 9:30pm Feb 3, 2011 9:30pm
it's valid.
trick: when the bollinger band starts being "walked" move your TP up one TF, see what happens.
Quoting Robert99
I trade using the 15 minute chart for the short term trend. Then I trade off the 5 minute chart when it hits the top of the Bollinger Band.

I do glance at the 1 minute chart and I also am aware of resistance and support levels.

Knowing where you want to exit is important surely. If I get a good entry I move my stop to lock in profits. That is why my batting average is over .600 and MVP of the National League. A little ego is healthy but just a little.
  • #379,428
  • Feb 3, 2011 9:31pm Feb 3, 2011 9:31pm
Vlad,

While not obvious based on my post count or voucers received, I've done extensive research sponsored by a private prop/algo group that led to the same conclusion, and wihout disclosing anything proprietary or of sensitive nature, I can say that the highest probability (%P) trades are confirmed by a higher/lower timeframe depending on your focus and current time frame.

Attila's comment is spot on.

Good luck,



Quoting vlady1974
Interesting idea. I'll give it some thought.
Cheers and thanks everyone for their input and discussion.

See you at London
Good night.
  • #379,429
  • Feb 3, 2011 9:35pm Feb 3, 2011 9:35pm
Quoting Patience
Good evening Robert. You seem very familiar to me. Let me ponder for a while.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #379,430
  • Feb 3, 2011 9:39pm Feb 3, 2011 9:39pm
I don't know about that, but pay attention to what the price does BEFORE the news. i've said it before: i don't believe the banks don't know what the number will be ahead of time. so logically if you want to drop it, for instance you drive it up as much as you can before. i'm usually watching what the price did the night before. so much for cloggies' fundamentals mambo jumbo (sorry couldn't help it).

anyway it doesn't always work, but most of the times it does. we'll see tomorrow.

Quoting callmegood
cmiiw, I notice that EU and GU always goes north on NFP, no matter what the result is. Any enlightening for this?
  • #379,431
  • Feb 3, 2011 9:39pm Feb 3, 2011 9:39pm
Quoting Robert99
I would prefer if you would open a demo account and I will give you fundamental entry points with stop loss and why you are doing the trade. Once you have confidence you can do real trades. Let me know and get some rest.
Before I go, Robert I have LOTS of these demo accounts on my platform here on my laptop now. Got one with $3K brand spanking new. And since I know I wont have time for this tomorrow, here's my Murrey Math view of the world.

Good Night
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd 1d.jpg Size: 281 KB
Click to Enlarge Name: gbpusd 4h.jpg Size: 331 KB
Click to Enlarge Name: gbpusd 1h.jpg Size: 218 KB
A pip is only worth it if you know how much you risked to earn it
  • #379,432
  • Feb 3, 2011 9:43pm Feb 3, 2011 9:43pm
Quoting Magix
I got no idea where HDA went, I been mostly absent from this place myself...

Thoughts on your post...well, each trader has a different style and interpretation of daily movements, based on select price movement indication/indicators...

Taking a few shekles at a time or keeping your trades tight are viable trade strategies. Your thoughts were well composed and put together....

Vlady has from what I have read a mathematical approach to seeing what he wants to see in order to take his trade in the first place...I would certainly not try to steer...
I am good at calling market direction most times. I have developed a scalping style while when I first started I was holding for longer runs.

Since September 2008 BUY and Hold has been difficult because of swings of 100 plus pips.

I have posted before on Forex Forums and I have finally learned to just be cool and humble since anything else wastes energy.

I prefer to determine if the EUR/USD is heading down or up. I trade only in one direction then. As I was seeing it short since it reached 1.3800 and could not go higher I only shorted it. Before the London open it usually goes up (USUALLY) Not Always, Price Patterns Repeat sometimes.

Look at this pattern most days between 2:00 AM and 4:00 AM and 7:00 and 9:30 AM each day with exceptions sometimes.

I learn things that repeat and that gives me an edge.

Correlation is important. I have learned many trade secrets for myself by trading 5 days 24 hours each week.

I seldom trade between 7:00 PM and 1:00 AM so I relax, read and sleep.

My BEST trading times are 2:00 AM EST and 4:00 AM EST and 7:00 AM to 9:30 AM.

Then comes Option Expiry at 10:00 AM London Close at 11:00 AM and I watch movements based on closing of positions in London. Between 11:30 and 2:00 PM, I break and trade from 2:00 PM EST to 4:30 PM.

It works for me and I love what I do.

Keep teaching your Son if he has the interest and desire.

If I did not have desire and interest I would not wake up at 2:00 AM to trade and when not trading post here sometimes.

Nice talking with you.
  • #379,433
  • Feb 3, 2011 9:47pm Feb 3, 2011 9:47pm
one long closed on this one

http://www.forexfactory.com/showpost...stcount=379215

i'll leave the other two running up to 61. off to sleep now. gl
  • #379,434
  • Feb 3, 2011 9:48pm Feb 3, 2011 9:48pm
Quoting callmegood
cmiiw, I notice that EU and GU always goes north on NFP, no matter what the result is. Any enlightening for this?

Not true.


It may spike around a bit, but the long term direction is usually resumed.

Somewhere I have a chart pic of the E/U with all the non-farm days posted on it for the last couple years.

I'll dig it up and post it.
No way I'll wreck this... It's a beer truck!
  • #379,435
  • Feb 3, 2011 9:49pm Feb 3, 2011 9:49pm
Quoting Magix

We all can share in the fun.
  • #379,436
  • Feb 3, 2011 9:55pm Feb 3, 2011 9:55pm
Quoting Robert99
We all can share in the fun.
No...No we can't...

Much as to say, sometimes you get to be the windshield, sometimes you are the bug...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #379,437
  • Feb 3, 2011 10:04pm Feb 3, 2011 10:04pm
Quoting Patience
Good evening Robert. You seem very familiar to me. Let me ponder for a while.
oh shit.. u guys are good..
those who can, do. those who cant, talk about those who can
  • #379,438
  • Feb 3, 2011 10:05pm Feb 3, 2011 10:05pm
Morning All,

All my charts level are disturbed today so its difficult for me to pick levels short time frame levels.. but as per 15M the support below are the 3627, 3617 and 3605.. while the resistances are above at 3647, 3668 and 3686..4H showing the move towards 3578, 3523 and 3449.. but i feel that market will be in range of 40-50 pips before NFP like it do in past.. so plan here to scalp for 8-10 pips only.. or otherwise touch it after NFP..
  • #379,439
  • Feb 3, 2011 10:10pm Feb 3, 2011 10:10pm
Quoting Bruce Flea
Not true.


It may spike around a bit, but the long term direction is usually resumed.

Somewhere I have a chart pic of the E/U with all the non-farm days posted on it for the last couple years.

I'll dig it up and post it.
Thanks bruce. I know it sounded stupid.. Perhaps i havent't researched anuff then
  • #379,440
  • Feb 3, 2011 10:15pm Feb 3, 2011 10:15pm
Quoting Patience
Good evening Robert. You seem very familiar to me. Let me ponder for a while.
Quoting gatorinla
oh shit.. u guys are good..

yup the style is very familiar to me tooo.. carry on patience.. you can
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