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  • #400,761
  • Mar 4, 2011 1:35am Mar 4, 2011 1:35am
Quoting Warwick
Whats up Fib... love the volatility, although nasty spikes are never welcomed.

As i've feared, it appears lots of retail traders are still in denial that were over 1.39 ... 7/10 times the market will gun for their stops but hopefully the big guys are generous tomorrow and decide to give them back their positions.
Follow the stops Warwick, shakeouts happenin' all the time on all time frames...
  • #400,762
  • Mar 4, 2011 1:36am Mar 4, 2011 1:36am
in the vicinity...
Attached Image (click to enlarge)
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Look Sharp/Trade Tight
  • #400,763
  • Mar 4, 2011 1:36am Mar 4, 2011 1:36am
Quoting PayTheLimit
how goes it brother...
Yeah good, weather is still bloody freezing tho' in the UK too cold for March...
  • #400,764
  • Mar 4, 2011 1:37am Mar 4, 2011 1:37am
Quoting mercy seat
... no need to lean too much out of the window ...
nice way of putting it..lol...
Look Sharp/Trade Tight
  • #400,765
  • Mar 4, 2011 1:38am Mar 4, 2011 1:38am
I personally would like EU to see near DPP 3921 where I might enter a long.

Markets expect sligly lower Unemployment change and better NFP.
I would say unemployment change is more important. If we get good NFP and unemp. numbers EU will jump north then it would possible drop off more then 100 pips.

If the situation is the opposite ( bad nfp and unem.) I expect EU to rise to 4050.

I might make a LONG position somewhere near DPP, but I need to see PA first.

I wont trade pre NFP only during NFP.
  • #400,766
  • Mar 4, 2011 1:39am Mar 4, 2011 1:39am
Quoting FibbinArchie
Yeah good, weather is still bloody freezing tho' in the UK too cold for March...
good trading weather...
Look Sharp/Trade Tight
  • #400,767
  • Mar 4, 2011 1:44am Mar 4, 2011 1:44am
Quoting PayTheLimit
good trading weather...
come summer will be trading London hours only I think, get out and enjoy the evenings a bit more...
  • #400,768
  • Mar 4, 2011 1:45am Mar 4, 2011 1:45am
Quoting T@rantula
I personally would like EU to see near DPP 3921 where I might enter a long.

Markets expect sligly lower Unemployment change and better NFP.
I would say unemployment change is more important. If we get good NFP and unemp. numbers EU will jump north then it would possible drop off more then 100 pips.

If the situation is opposite ( bad nfp and unem.) I expect EU to rise to 4050.

I might make a LONG position somewhere near DPP, but I need to see PA first.

I wont trade pre NFP only during NFP.

I think unemployment goes down

Nfp up

Risk appetite up,

Inflation up

Possibility of future increase in rates up(starting with ez)

EU UP.

DPP might print in london before it goes into 1.4


Could be totally wrong off course

.
Mind over matter..I don't mind and you don't matter.
  • #400,769
  • Mar 4, 2011 1:46am Mar 4, 2011 1:46am
Quoting T@rantula
I personally would like EU to see near DPP 3921 where I might enter a long.

Markets expect sligly lower Unemployment change and better NFP.
I would say unemployment change is more important. If we get good NFP and unemp. numbers EU will jump north then it would possible drop off more then 100 pips.

If the situation is the opposite ( bad nfp and unem.) I expect EU to rise to 4050.

I might make a LONG position somewhere near DPP, but I need to see PA first.

I wont trade pre NFP only during NFP.
range currently capped at monthly r1, also we got that weekly descending trend line, if that goes next long term resistance from the monster monthly trend line is around 1.43, which has potential for being the yearly high imo...
  • #400,770
  • Mar 4, 2011 1:49am Mar 4, 2011 1:49am
Quoting FibbinArchie
come summer will be trading London hours only I think, get out and enjoy the evenings a bit more...
I'm with you on that. London Open +5/6 hours and thats it, really it should be enough...I was telling Hatch the other day, tired of sitting behind this freaking computer all day. I just dont see the need to trade all sessions, especially if your an intraday guy. I rarely trade outside of London. Only thing I have been doing is observing reactions to my levels during the other sessions, getting close to having enough data to end that.
Look Sharp/Trade Tight
  • #400,771
  • Mar 4, 2011 1:52am Mar 4, 2011 1:52am
Quoting PayTheLimit
I'm with you on that. London Open +5/6 hours and thats it, really it should be enough...I was telling Hatch the other day, tired of sitting behind this freaking computer all day. I just dont see the need to trade all sessions, especially if your an intraday guy. I rarely trade outside of London. Only thing I have been doing is observing reactions to my levels during the other sessions, getting close to having enough data to end that.
yeah past two years just been getting my screen time up, objective is to get to know eu pa like the back of my hand, wax on, wax off Mr Miyagi...

although you do tend to get a nice trend around 3pm london time on us economic data release days, then more often than not a good hour or so's worth of counter around 5pm...
  • #400,772
  • Mar 4, 2011 1:54am Mar 4, 2011 1:54am
Quoting bigandrich
I need someone with you're vouch to tell me. Please.
Just because someone has +10 vouches doesn't mean he is a profitable trader, so don't base your trading on clues given by other traders. Most of them are wrong most of the time. You will lose your account by following other traders. You don't know where to enter - don't do it then. Open a practice account, and practice - trading is a skill, so you need practice, you need screen time, not other traders around you.
  • #400,773
  • Mar 4, 2011 1:55am Mar 4, 2011 1:55am
Quoting PayTheLimit
I'm with you on that. London Open +5/6 hours and thats it, really it should be enough...I was telling Hatch the other day, tired of sitting behind this freaking computer all day. I just dont see the need to trade all sessions, especially if your an intraday guy. I rarely trade outside of London. Only thing I have been doing is observing reactions to my levels during the other sessions, getting close to having enough data to end that.
Seeing it the same way here. I am through with New York.
  • #400,774
  • Mar 4, 2011 1:56am Mar 4, 2011 1:56am
Quoting FibbinArchie
yeah past two years just been getting my screen time up, objective is to get to know eu pa like the back of my hand, wax on, wax off Mr Miyagi...
Yea, I hear you. IMHO, there is no getting past it, regardless what TF you trade.
Look Sharp/Trade Tight
  • #400,775
  • Mar 4, 2011 1:57am Mar 4, 2011 1:57am
news is coming in 5 min
watch cable
Everything is RISK just learn how to live with
  • #400,776
  • Mar 4, 2011 1:59am Mar 4, 2011 1:59am
Quoting PayTheLimit
Yea, I hear you. IMHO, there is no getting past it, regardless what TF you trade.
live combat experience is the only way to learn this business imo...
  • #400,777
  • Mar 4, 2011 1:59am Mar 4, 2011 1:59am
Quoting CandleStar
Seeing it the same way here. I am through with New York.

Lots of people dont have a choice. Personally if I just traded NY I would go broke. Dont no what it is, but it is. Many years ago I used to trade the Asia session, which at the time worked well for me. Try them all and see whats best for you.
Look Sharp/Trade Tight
  • #400,778
  • Mar 4, 2011 2:00am Mar 4, 2011 2:00am
Quoting FibbinArchie
yeah past two years just been getting my screen time up, objective is to get to know eu pa like the back of my hand, wax on, wax off Mr Miyagi...

although you do tend to get a nice trend around 3pm london time on us economic data release days, then more often than not a good hour or so's worth of counter around 5pm...
I've summed up all sessions..

Asian - Humility, although will make themselves heard when necessary.

London/Teadrinkers - Greedy, these guys WILL hunt for stops.

NY - Demonic, Building on London's greed - they will not only hunt for stops but will do it in a very conspicuous manner.
  • #400,779
  • Mar 4, 2011 2:03am Mar 4, 2011 2:03am
Quoting Warwick
I've summed up all sessions..

Asian - Humility, although will make themselves heard when necessary.

London/Teadrinkers - Greedy, these guys WILL hunt for stops.

NY - Demonic, Building on London's greed - they will not only hunt for stops but will do it in a very conspicuous manner.
If you can't beat 'em join 'em... There's a lot to be said for tailoring a strategy around stop hunting...
  • #400,780
  • Mar 4, 2011 2:04am Mar 4, 2011 2:04am
Quoting JuliusCeasar
I think unemployment goes down
.
I don't think so.
If NFP goes up (what we all expect) then unemployment will go up too.
Mllions of people have just given up looking for work, but with NFP getting better, they will come back actively seeking work.
And millions of retired people have lost half there retirement income in the past few years and will come back actively seeking work.

I'm not sure how the dollar is going to react. I expect mixed ups and downs but I will not be trading it.
It is bloody well gambling and I would give playing in a casino a better chance. Lol and I quit playing in casino's when I found forex.
Maybe after 15 minutes or so when I have an idea how it goes.

Shamu
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