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  • #379,461
  • Feb 3, 2011 11:34pm Feb 3, 2011 11:34pm
Quoting sannmmy
what is the NFP and what time is it coming on?
It is "No Fair Practice", a very old broker tool. The next NFP will be 9:30 Eastern Time (NY time) tomorrow i.e. Friday.

ps. or is it Non-Farm Payroll, a very important US data that shows emloyment change in non-farm sector?
The Thief of Wall Street
  • #379,462
  • Feb 3, 2011 11:35pm Feb 3, 2011 11:35pm
Quoting sannmmy
what is the NFP and what time is it coming on?
pls check on forex calender, all the impact news is written down over there.
  • #379,463
  • Feb 3, 2011 11:36pm Feb 3, 2011 11:36pm
Quoting Chicky
To share a secret, I am not putting a single dime on any of these levels until next week.
Wise move be that Chicky...

I will hammer a few here n there, see how much more I can gain off a couple holds and really not looking for a lot going into weekly close nor NFP...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #379,464
  • Edited 11:45pm Feb 3, 2011 11:40pm | Edited 11:45pm
Quoting Magix
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...
IMO, this is a very central and very important issue in trading, and one that goes right to the heart of the whole "take profit" wing of money management.

Another way for someone to open a discussion with themselves over the question is as follows:

Imagine someone is watching your trades, but isn't keeping track of your position. That is, if he saw a buy, he would not know a priori if that were an exit of a short or an entry of a long.

Now, if that watcher 'reverse engineered' your trade decisions, do you think that it would be a sign of good trading practice -- or poor trading practice -- if he could identify no difference in the apparent decision logic between trades that were exits (TP's or stops) and those that were entries?
  • #379,465
  • Feb 3, 2011 11:40pm Feb 3, 2011 11:40pm
Quoting fontu
so if price halt this area 8:30 hrs , can have impact 3700 + to 3500+
expecting retracement rather bear before nfp , may complete retracement & ready fall & back to center of gravity ( to me 3688 arround ) to wait NFP .
lets see .
thanks for sharing your levels.. i respected your charts level too.. agreed with 3566.. it will be hard level to break according to curves.... once break then 3509 and 3449 ahead.. but chances to go up around 3688 are less.. 3662-67 area is on the way and i think its hard to break.. if we look back at history and see the fall from 3816.. then we can see the market have a 4H range between 3584-3667 and once it break 3584.. it fell down towards 3267.. lets see what will be the next.. wharever but wish that we must be in green..
  • #379,466
  • Feb 3, 2011 11:42pm Feb 3, 2011 11:42pm
Quoting Magix
Wise move be that Chicky...

I will hammer a few here n there, see how much more I can gain off a couple holds and really not looking for a lot going into weekly close nor NFP...
If I were you, would either take a postion and stick to it or remain at the sidelines. Tried scalping llike a fool few times but platform freeze, disconnections and sudden change in spread never helped.
The Thief of Wall Street
  • #379,467
  • Feb 3, 2011 11:44pm Feb 3, 2011 11:44pm
Quoting sannmmy
what is the NFP and what time is it coming on?
Go the the home page of this website, with the calendar of announcements, find non farm payrolls, and click the little icon that explains it.
  • #379,468
  • Feb 3, 2011 11:50pm Feb 3, 2011 11:50pm
Quoting Chicky
40% of these levels will not get a bounce, but 60% will. At 1% profit or loss on each bounce, I gain 20%.


To share a secret, I am not putting a single dime on any of these levels until next week.
Come on, show some guts
New voice message: Why are you calling me? If I need you, I'll call you!
  • #379,469
  • Feb 3, 2011 11:51pm Feb 3, 2011 11:51pm
Quoting PayTheLimit
Well I'd like to see a test of 3659/70 for a possible sell setup...
still...however, a good bear candle might make me pull the trigger at lower levels....
Attached Image (click to enlarge)
Click to Enlarge Name: chart 1.gif Size: 25 KB
Look Sharp/Trade Tight
  • #379,470
  • Feb 3, 2011 11:54pm Feb 3, 2011 11:54pm
Quoting OldQuant
IMO, this is a very central and very important issue in trading, and one that goes right to the heart of the whole "take profit" wing of money management.

Another way for someone of open a discussion with themselves over the question is as follows:

Imagine someone is watching your trades, but isn't keeping track of your position....
This does go under assumption of round the clock trades...

Under reasonable circumstances, reasonable people will make reasonable decisions....

I have a few entry points that go by the clock, it's a system...

I have a few entry points based on previous days gains/losses...

I have triggers from the 1m chart threw to the daily...

All dependent on what I want to see is what I should hold onto...

In the grand scheme of life, all things being equal, a game will be won by 1 goal, and a trade is a success given a single pip gain.

So, when to take exit...

The rapid fire 1m trades I take will range on profit just above zero to 10ish...my 5m trips will carry a little longer and if I gain the support or trip with the trend on the M30s and above, well, I got one EU current hold sitting around 196...

Dependent on a trade system, range play or tops to bottoms, in a lot of cases reversals for trade charts happen to be at about break even...complete circle trades for an even zero sum game...THUS the reason for speculative top and bottom callers...Who doesn't wanna be the first person to call the next 1000 pip wave?

At the same time, how many have the patience to wait out this play without going into full body spasm, finger on the trigger fearing loss?

Evolution of the trader by way of experience can be the only real decision maker. Given the average new traders life expectancy in market to be equivalent of that of a fruit fly, how many will really figure it out?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #379,471
  • Feb 3, 2011 11:58pm Feb 3, 2011 11:58pm
Quoting Chicky
If I were you, would either take a postion and stick to it or remain at the sidelines. Tried scalping llike a fool few times but platform freeze, disconnections and sudden change in spread never helped.
Assuming you are talking about NFP...

I make everything I need to without being in that dance Chicky...I learned my lessons on that one too...

Tonight will be an early turn in, and a late sleep past NFP whipsaw...

Friday is a no play after London day for me, so, in effect, if I haven't made it over the next couple hours, I ain't making it this week...

I'm okay with that...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #379,472
  • Feb 3, 2011 11:59pm Feb 3, 2011 11:59pm
Who's selling?


I won't run stops, honest.
  • #379,473
  • Feb 4, 2011 12:02am Feb 4, 2011 12:02am
Quoting Magix
Given the average new traders life expectancy in market to be equivalent of that of a fruit fly, how many will really figure it out?
I did, but it took a few years!!

Shamu
New voice message: Why are you calling me? If I need you, I'll call you!
  • #379,474
  • Feb 4, 2011 12:02am Feb 4, 2011 12:02am
Hello i m very new in trading,

can i take a position at these levels, pls guide me

Quoting PayTheLimit
still...however, a good bear candle might make me pull the trigger at lower levels....
  • #379,475
  • Feb 4, 2011 12:08am Feb 4, 2011 12:08am
Quoting KillerWhale
I did, but it took a few years!!

Shamu
No you didn't...

Might sound a little prickish here, but you have market completely figured?

Cannot possibly improve at all??

Rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrright......
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #379,476
  • Feb 4, 2011 12:12am Feb 4, 2011 12:12am
i think this short is loooong overdue....




Quoting akhtergroup
Who's selling?


I won't run stops, honest.
  • #379,477
  • Feb 4, 2011 12:15am Feb 4, 2011 12:15am
Quoting forexbibi
hi bro Bruce, can share with us again for those pic that u had upload previous yr, jz now the pic didnt focus on time during NFP??? thanks ya...
Daily charts there only.

If you want to see the specific time of the announcement on an hourly chart, here's the link, knock yourself out.

http://www.bls.gov/bls/archived_sched.htm
No way I'll wreck this... It's a beer truck!
  • #379,478
  • Feb 4, 2011 12:15am Feb 4, 2011 12:15am
Quoting Magix
No you didn't...

Might sound a little prickish here, but you have market completely figured?

Cannot possibly improve at all??

Rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrright......
Sure I can improve, especially where it comes to patience, but being consistently profitable over the last 13 months is good enough for now.

I'm working to make this a living and I go a long way for that.
Only my NAV is not big enough yet to quit a daytime job.

And no, you don't sound prickish, I'm always trying to learn.

Shamu
New voice message: Why are you calling me? If I need you, I'll call you!
  • #379,479
  • Feb 4, 2011 12:22am Feb 4, 2011 12:22am
hey Magix, how you doing dude? nice to see you back. hope you feeling better now?
hk

Quoting Magix
No you didn't...

Might sound a little prickish here, but you have market completely figured?

Cannot possibly improve at all??

Rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrright......
  • #379,480
  • Feb 4, 2011 12:23am Feb 4, 2011 12:23am
Quoting KillerWhale
Sure I can improve, especially where it comes to patience, but being consistently profitable over the last 13 months is good enough for now.

I'm working to make this a living and I go a long way for that.
Only my NAV is not big enough yet to quit a daytime job.

And no, you don't sound prickish, I'm always trying to learn.

Shamu


Under an appreciation that there is no holy grail there will never be market perfection...No broker will have absolutes on tops and bottoms and will leave you with a zero spread to toy with...and even if they did...unless you were the driver of this bus, you would never have complete control...

Under reasonable circumstances, reasonable people will make reasonable decisions...

Take what you need, let everybody else fight for what is left over...

Keep rocking Shamu...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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