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  • #403,421
  • Mar 9, 2011 9:51am Mar 9, 2011 9:51am
Quoting T@rantula
Some years ago I also used systems for trading. By using systems I got some knowledge about indicators and what they do.

Most systems work ONLY in trending conditions. By using various indicators they give u the opportunity to jump into a trade and make a profit.

That is the problem. We usually have RANGE not TREND so its then when 90 % of systems fail. If you are trading the system and not PA itself, there is a good opportunity to lose ur money when a currency pair u trade enter a range.

If trading is so easy, almost anyone could trade...
how about systems with non-visual indicators?
Hero calls followed by margin calls...
  • #403,422
  • Mar 9, 2011 9:53am Mar 9, 2011 9:53am
Quoting Sonofsin5
You hope. We have been ranging for the last few major sessions, 3940 break is key to topside.

The only thing that keep EUR up to 1.40 level before.... Its that Tricket promise rate hike in April. I see a retrace for EUR/USD to deal with their debt crisis before moving up... I'm still shorting it ... In and out ...
Long make $ and Short make $ also .. just depend where you are ...
As long as not overleverage and have Stop Loss in place
  • #403,423
  • Mar 9, 2011 9:53am Mar 9, 2011 9:53am
Quoting Munal
We should be taught not to wait for inspiration to start a thing. Action always generates inspiration. Inspiration seldom generates action.
^^ this. And inspiration creates wonders.
  • #403,424
  • Mar 9, 2011 9:53am Mar 9, 2011 9:53am
Quoting aarontdang
I should see 1.39 by the end of the day
we already have twice today
  • #403,425
  • Mar 9, 2011 9:54am Mar 9, 2011 9:54am
Quoting T@rantula
Yes, thats why most trading systems dont work. Either you know how to trade or dont.

I think every disciple of trading, every Forex trader needs to know basic patterns, candlesticks and s/r levels, then move on to western indicators.

For myself a good combination of PA indicators ( eastern candlesticks and western MAs ) is crucial thing in trading.

You can add Camarillas, Murrey Math for levels but the core of trading remains the same.

Candlesticks are the very basics.
steve nisson(sp) said something to that effect in his book on candle stick trading... right wise chap that one is

keep on keepin' on spider-dude, enjoy reading your postings
  • #403,426
  • Mar 9, 2011 9:55am Mar 9, 2011 9:55am
Quoting PhAnTi'
how about systems with non-visual indicators?
maybe in 2070 if we survive 2012
  • #403,427
  • Mar 9, 2011 9:55am Mar 9, 2011 9:55am
Quoting aarontdang
Long make $ and Short make $ also .. just depend where you are ...
I guess that's a good way of describing trading...
  • #403,428
  • Mar 9, 2011 9:56am Mar 9, 2011 9:56am
Quoting AllyB
LOL ... I was but is this what your talking about?
http://www.newyorkfed.org/markets/po...play/index.cfm

And if so, then this is also what Cloggie was pointing out yesterday? I really don't understand this so can you tell me if this is good for the dollar????
It's not. It's the monetization of debt. Think of it this way.....we (the US) issue debt in the form of treasuries. A few weeks later, the Fed buys them back at a premium, dumping money to feed risk into the market. It's clockwork. In short....taxpayers are screwed by the growing, insustainable debt load being developed......primary dealers and others play "flip that bond", selling back on a pretty short timeframe, at a premium.
  • #403,429
  • Mar 9, 2011 9:56am Mar 9, 2011 9:56am
Quoting jaylovin
we already have twice today

Third time is a charm .... it will break the support ...
As long as you make Green PIPS ... it really doesn't matter if it move up or down right???
  • #403,430
  • Mar 9, 2011 9:57am Mar 9, 2011 9:57am
st a target #1 3935.9 we didn't touch it yet.. #2 3957/61
those who can, do. those who cant, talk about those who can
  • #403,431
  • Mar 9, 2011 9:57am Mar 9, 2011 9:57am
Quoting noblehobo
steve nisson(sp) said something to that effect in his book on candle stick trading... right wise chap that one is

keep on keepin' on spider-dude, enjoy reading your postings
Yes yes. Steve is one of my favourite . He has a great insight into candles and candlestick formations.

Great guy he is indeed.

Thanks
  • #403,432
  • Mar 9, 2011 9:57am Mar 9, 2011 9:57am
a good place to sell
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  • #403,433
  • Mar 9, 2011 9:58am Mar 9, 2011 9:58am
Quoting T@rantula
maybe in 2070 if we survive 2012
we wont ! ..

anyway...

off

see ya time by time

Jonas-.
Hero calls followed by margin calls...
  • #403,434
  • Mar 9, 2011 9:58am Mar 9, 2011 9:58am
Quoting gatorinla
kinda like it did.. we need a close below 3873.. to continue the shorts. with a breakout.
it aint broke till its broke. then 3842.x...
those who can, do. those who cant, talk about those who can
  • #403,435
  • Mar 9, 2011 9:59am Mar 9, 2011 9:59am
Quoting Munal
..............

We should be taught not to wait for inspiration to start a thing. Action always generates inspiration. Inspiration seldom generates action.


Plan your trade, trade your plan - is imo better.

Because you can have all the action and/or inspiration but without a plan you have nothing.
  • #403,436
  • Mar 9, 2011 9:59am Mar 9, 2011 9:59am
Time for 7 hours power cut..... goodnight guys.......
  • #403,437
  • Mar 9, 2011 10:00am Mar 9, 2011 10:00am
Quoting aarontdang
Third time is a charm .... it will break the support ...
As long as you make Green PIPS ... it really doesn't matter if it move up or down right???
agree... first real support here 1.3861 area imo - i am long until above 1.41 or until move below 1.3839 ... stops in place BE + 10pips....

we may even see 1.42.. if we reach there i will short this mother through the floor...
  • #403,438
  • Mar 9, 2011 10:00am Mar 9, 2011 10:00am
Quoting gatorinla
st a target #1 3935.9 we didn't touch it yet.. #2 3957/61
thanks gator... your #2 is my #1 target
Money is made by sitting, not trading. Jesse L. Livermore
  • #403,439
  • Mar 9, 2011 10:02am Mar 9, 2011 10:02am
Quoting PriceVolume
It's not. It's the monetization of debt. Think of it this way.....we (the US) issue debt in the form of treasuries. A few weeks later, the Fed buys them back at a premium, dumping money to feed risk into the market. It's clockwork. In short....taxpayers are screwed by the growing, insustainable debt load being developed......primary dealers and others play "flip that bond", selling back on a pretty short timeframe, at a premium.
Thanks ... that really does help in a language I can understand. It sure can suck living in the good ole USA
  • #403,440
  • Mar 9, 2011 10:04am Mar 9, 2011 10:04am
Quoting doughnut
Looking at fundamentals i really cant see it going any higher than like you say 1.41 there is divergence on daily and 8 hr chart is showing some promise
I have learned that in EUR/USD, it can stay in an "overbought" range as long as it feels like it. Many new traders see this as an opportunity to short leading to pain and suffering. This pair can go through periods where nothing makes sense at first glance. IMO it is most important to understand risk-on vs risk off bias and then apply it to fundamentals. USD is no longer the "rock" it used to be until the FED stops devaluing it...in turn this pair is one of the more unreliable pairs until one understands its PA. 1.43 is easily attainable with Trichet, interest rate talk, and likely debt "restructuring".
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