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  • #380,021
  • Feb 4, 2011 9:29am Feb 4, 2011 9:29am
Quoting T@rantula
Im just curious why u guys still trade today? There is a clear fib support at 3546,ATR made it to the pip and news is done. Above 3564 counters could be played...but If u made profit why would you give it back to the market?

=>they give it back to earn something else ..

It's Friday dudes , the big players donīt play with their money and do not hold their positions over the weekend. So sit back, gets a pack of chips and enjoy the weekend.
Next week the fun begins again
  • #380,022
  • Feb 4, 2011 9:29am Feb 4, 2011 9:29am
You told you closed but i am still holding my short 1.3643....




Quoting PhAnTi'
i hold my short. dont see any reason for retrace before 3500.

lets c
Trade what you see, Not what you think.
  • #380,023
  • Feb 4, 2011 9:29am Feb 4, 2011 9:29am
Quoting T@rantula
Im just curious why u guys still trade today? There is a clear fib support at 3546,ATR made it to the pip and news is done. Above 3564 counters could be played...but If u made profit why would you give it back to the market?
would u share ur fib on attachment pls
is it 61.8 expansion?
Verily, in every difficulties there is relief
  • #380,024
  • Feb 4, 2011 9:30am Feb 4, 2011 9:30am
Quoting ukdaytrader
No, they mean pretty much nothing. Of course there is a bigger picture, but it isn't governed by some crap piece of monthly data. Have a wee look at the effects of important data releases, the initial move is almost always retraced; sometimes in seconds, sometimes over a longer period, but nearly always retraces.

Just watch Bloomberg, or spend some time reading the fundi traders posts here at FF. The best analysts out there are wrong as much as they are correct. You may as well lick your finger and stick it in the air.

One thing I hate is...
then how come the market always wait for these news?
could a different set of data shot the euro upwards instead? or no kind of data would have changed the start of the downtrend?

i'm not a fundi trader either and I only went short when the bearish engulfing happened on the 3rd but lately i've been thinking "why do I (and probably other traders) even bother with the economic calendar at all?"...

the 5min candle when the news came out is about 70pips from top to bottom and some kind of smart money program was triggered(as always) and i'm guessing these smart money people are not in for just 70 pips, they are in for the long run, 1000s of pips, and I'm thinking their plans have to do with data in some way...
  • #380,025
  • Feb 4, 2011 9:31am Feb 4, 2011 9:31am
Quoting T@rantula
I advise to stay after the market after London close. The sooner the better.
Also...there are TREND RIDERS and PROFIT TAKERS.

First group plays by the price and exits only when a ride has been finished ( by the rules)

The second group are traders that exit the trade when TP has been hit.

Both are done for this day.
  • #380,026
  • Feb 4, 2011 9:31am Feb 4, 2011 9:31am
Quoting primzvicious
would u share ur fib on attachment pls
is it 61.8 expansion?

35434 is the big fib extension on the daily. It's a biggie and I don't expect this to go anywhere this time on a Friday.
  • #380,027
  • Feb 4, 2011 9:32am Feb 4, 2011 9:32am
Quoting khizer
You told you closed but i am still holding my short 1.3643....
other conditions...
Hero calls followed by margin calls...
  • #380,028
  • Feb 4, 2011 9:32am Feb 4, 2011 9:32am
retrace expect 3585 maximum...

than back
Trade what you see, Not what you think.
  • #380,029
  • Feb 4, 2011 9:32am Feb 4, 2011 9:32am
Quoting attila
please allow me to have some fun with somebody that's insulting everybody around but when it comes down to it, he can't trade his way out of a paper bag.
can you trade by what he's posting? if so, more power to you. LOL.
I do not understand the point.

If he is such a red blanket for you put him on ignore. That is all. All I know is, that he is far more often right about direction then he is wrong.

And he is no signal service at all. Maybe you offer him money for signals and he will do it especially for you.

This permanent ranting is disturbing this nice board and one of the best places I have ever seen for Forex traders.

So I kindly ask you and others to kindly lower down the tone here for the health of this board. Thank you in advance.

Best to you,

Markus
  • #380,030
  • Feb 4, 2011 9:34am Feb 4, 2011 9:34am
Quoting primzvicious
would u share ur fib on attachment pls
is it 61.8 expansion?
No problem.

Its camarilla with fibs.
Attached Image (click to enlarge)
Click to Enlarge Name: 12.gif Size: 25 KB
  • #380,031
  • Feb 4, 2011 9:35am Feb 4, 2011 9:35am
Quoting T@rantula
25 pips...OK.

Keep it safe mate...

Tako je u pocetku. Psiha igra veliku ulogu. Ne daj se!
Its a slow growing business for me atm, still think when i come to that psiho level of my acc i will locker up and let run things easier...

Small steps for a greater goal... What can i do, its a phase...


Its just that i am sometimes mad at myself, i wait long for the setup and join but when it comes to profit taking i just go like a chick for a cock some laugh hehe


Thanks mate..

Enjoy the weekend
  • #380,032
  • Feb 4, 2011 9:35am Feb 4, 2011 9:35am
Happening 379202
  • #380,033
  • Feb 4, 2011 9:35am Feb 4, 2011 9:35am
Quoting cloggie
35434 is the big fib extension on the daily. It's a biggie and I don't expect this to go anywhere this time on a Friday.
Hi Cloggie,

do not really like the action right now. Not a real follow through. We will see. Maybe 3500-3520.

Is that "throw over" allowed in your "model"?
  • #380,034
  • Feb 4, 2011 9:36am Feb 4, 2011 9:36am
Quoting tradertom
=>they give it back to earn something else ..

It's Friday dudes , the big players donīt play with their money and do not hold their positions over the weekend. So sit back, gets a pack of chips and enjoy the weekend.
Next week the fun begins again
^^ exactly.
  • #380,035
  • Feb 4, 2011 9:38am Feb 4, 2011 9:38am
Quoting Vladimir1987
Its a slow growing business for me atm, still think when i come to that psiho level of my acc i will locker up and let run things easier...

Small steps for a greater goal... What can i do, its a phase...



Thanks mate..

Enjoy the weekend
Go for it. So do you.
  • #380,036
  • Feb 4, 2011 9:38am Feb 4, 2011 9:38am
Quoting infinitus
Hi Cloggie,

do not really like the action right now. Not a real follow through. We will see. Maybe 3500-3520.

Is that "throw over" allowed in your "model"?

I am 20 mins away from closing the book for the week, irrelevant of what happens afterwards. Friday 1600GMT is the end of my week. Don't see this going much further then where it is now.
  • #380,037
  • Feb 4, 2011 9:38am Feb 4, 2011 9:38am
Might be a fib zone or it just might be because it is at weekly low from Monday as well as last weeks low from Monday/Tuesday last week.

And if/when it breaks should be a good ride down.
  • #380,038
  • Feb 4, 2011 9:41am Feb 4, 2011 9:41am
Quoting greenuns
then how come the market always wait for these news?
could a different set of data shot the euro upwards instead? or no kind of data would have changed the start of the downtrend?

i'm not a fundi trader either and I only went short when the bearish engulfing happened on the 3rd but lately i've been thinking "why do I (and probably other traders) even bother with the economic calendar at all?"...

the 5min candle when the news came out is about 70pips from top to bottom and some kind of smart money program was triggered(as always) and i'm guessing...
You raise some interesting points....

Sure the data can be interpreted differently, but it's short term and the players who matter already know what they want to do. Data is merely used as the trigger, (reason), for their actions. You think the selling through the 1.36 handle had it's origins from NFP? Of course not, how could it. Big banks aren't reactive to policy, they make policy.

A good idea is to spend some time in the VSA thread and look for some of the calls DrG, Malc, Hidden Gap and Intel make before the move.

We're just retail plebs, who if we're lucky, can read the flow of the PA itself and jump onto the coat-tails of the bigger players. Jump on and jump off before they've noticed. As soon as they can see us, they will kill.

Remember as well, my view will not be shared or supported by everyone at FF. You have to make up your own mind.
  • #380,039
  • Feb 4, 2011 9:41am Feb 4, 2011 9:41am
Quoting greenuns
then how come the market always wait for these news?
could a different set of data shot the euro upwards instead? or no kind of data would have changed the start of the downtrend?

i'm not a fundi trader either and I only went short when the bearish engulfing happened on the 3rd but lately i've been thinking "why do I (and probably other traders) even bother with the economic calendar at all?"...

the 5min candle when the news came out is about 70pips from top to bottom and some kind of smart money program was triggered(as always) and i'm guessing...
Don't get me wrong, but I think you are wrong thinking that a 5min candle will tell you a trend of 1000 pips for the next few weeks. IMO, you MUST bother about the economic calendar EVEN if you are scalping sub 5M charts only (if only for the sake of volatility coming!!!).

If you want to trade FA you should step aside from a 5M chart and analyze Fundamentals in a much more broader and interrelated context (is not as easy as 2+2), obviously if you don't want to trade FA and large moves just ignore the macro impact of FA and trading your 5M engulfing candle or whatever you use will be enough for trading (i am not sure about consistent profits but hey I dont scalp so ...).

In any case, best of luck.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #380,040
  • Feb 4, 2011 9:41am Feb 4, 2011 9:41am
Quoting T@rantula
No problem.

Its camarilla with fibs.
Attachment
thanks


Quoting cloggie
35434 is the big fib extension on the daily. It's a biggie and I don't expect this to go anywhere this time on a Friday.
roger that

i have this level also
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 13 KB
Verily, in every difficulties there is relief
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