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  • #411,741
  • Mar 23, 2011 12:31am Mar 23, 2011 12:31am
Quoting pkimnyc
is fx trading very different from trading stock? thought it was same, except the gap (lol).
Less boring. Could still hold down a full time job and trade...but then again in stocks a short term trade was 6 month or so where in Forex, at least to me, 48 hours is a long term trade.

  • #411,742
  • Mar 23, 2011 12:35am Mar 23, 2011 12:35am
Quoting Astroman
Less boring. Could still hold down a full time job and trade...but then again in stocks a short term trade was 6 month or so where in Forex, at least to me, 48 hours is a long term trade.

lol. thanks
  • #411,743
  • Mar 23, 2011 12:35am Mar 23, 2011 12:35am
Quoting pkimnyc
thank you. now i see what it means to be regulated.
I have done {on my own} pennystock trading and {with my bank} stocks in the form of Mutual funds for years & one thing I learned was to do more research and trade for the longer duration.

I love FX after i discovered it a little while back, but I fully expect it to be regulated in the coming years/decades with more international regulation.

can you imagine rules like the uptick rule in FX!
  • #411,744
  • Mar 23, 2011 12:37am Mar 23, 2011 12:37am
Quoting Pips-and-Dip
I have done {on my own} pennystock trading and {with my bank} stocks in the form of Mutual funds for years & one thing I learned was to do more research and trade for the longer duration.

I love FX after i discovered it a little while back, but I fully expect it to be regulated in the coming years/decades with more international regulation.

can you imagine rules like the uptick rule in FX!
omg...
  • #411,745
  • Mar 23, 2011 1:00am Mar 23, 2011 1:00am
Intraday / short-term Fib working like like a charm ...

5 wave down, ending at London open possibly, then the .4140 will be the key for the term ...
Attached Image (click to enlarge)
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  • #411,746
  • Mar 23, 2011 1:22am Mar 23, 2011 1:22am
Quoting Pips-and-Dip
Intraday / short-term Fib working like like a charm ...

5 wave down, ending at London open possibly, then the .4140 will be the key for the term ...
i think it will be an abc correction, but we will see. wave 3 is too short to consider as impulse wave.
  • #411,747
  • Mar 23, 2011 1:25am Mar 23, 2011 1:25am
Quoting pkimnyc
i think it will be an abc correction, but we will see. wave 3 is too short to consider as impulse wave.
Not necessarily, on a 5m chart ... you can see a little mini dip so I count a lower point as the start of wave 1 ... so it would be wave 1 = 65, 3 = 67

edit - correction, both waves are 65 ... misread it
Attached Image (click to enlarge)
Click to Enlarge Name: 3-23-2011 1-24-20 AM.jpg Size: 81 KB
  • #411,748
  • Mar 23, 2011 1:28am Mar 23, 2011 1:28am
  •  Vilgax
  • | Joined Aug 2010 | Status: Lack of money is root of most evil | 466 Posts
Quoting Astroman
So you lost one, so what. No one is going to win them all. I am no expert in FX but I have traded stocks since '84 when the cutting edge thing was that you could call a recorded message from your broker and you could actually get the closing price 2 hours after the market closed instead of waiting for the morning paper. No high, no low, no open...just close. Wow, at the time I thought I was living in the promised land. Does any other oldsters remember those times?

Anyway VILGAX I just wanted to say I love your attitude and I truly believe...
Thanks Astro, was just posting my losses too as like to show both sides of the coin. Waiting to see where to next...
The forex market has its own life and takes its own time.
  • #411,749
  • Mar 23, 2011 1:30am Mar 23, 2011 1:30am
Quoting Pips-and-Dip
Not necessarily, on a 5m chart ... you can see a little mini dip so I count a lower point as the start of wave 1 ... so it would be wave 1 = 65, 3 = 67

edit - correction, both waves are 65 ... misread it
this is not a rule, but sort of a guide line...

wave 3 is usually greater than or equal to 162% of wave 1 at least.
  • #411,750
  • Mar 23, 2011 1:33am Mar 23, 2011 1:33am
Quoting Astroman
Less boring. Could still hold down a full time job and trade...but then again in stocks a short term trade was 6 month or so where in Forex, at least to me, 48 hours is a long term trade.


He is asking the wrong questions... He should ask..

How is it with Stocks vs Forex thinking about the:
1. Spread
2. risk&reward
3. volatility
4. week-end gap
5. discretionary vs mechanical trading
6. time spent watching the market
7. expectations of return
8. news
9. general trend
10. Myths and facts
  • #411,751
  • Mar 23, 2011 1:33am Mar 23, 2011 1:33am
To wake up and see +268 pips - this gives you more energy in the morning than cup of coffee:

Attached Image (click to enlarge)
Click to Enlarge Name: euro.png Size: 49 KB
  • #411,752
  • Mar 23, 2011 1:34am Mar 23, 2011 1:34am
Quoting pkimnyc
this is not a rule, but sort of a guide line...

wave 3 is usually greater or equal to 162% of wave 1 at least.
yeah, my apoligizes ... I will ... blame it on my broker?

In all honestly, I am not a Elliot wave person, I read

http://www.amazon.com/Technical-Anal...0861914&sr=8-1

a few years ago and then realized that I was fitting the market to my opinion and not identifying the waves, and then discovered that 99% of traders bend charts to their agenda {not you in particular - just making point}.

I like stuff that runs into a wall and either gets knocked out or breaks through it ... I am good at going 'OH SH*T' - HE GOT KNOCKED THE F*&K OUT!' ... and then trading it!
  • #411,753
  • Mar 23, 2011 1:35am Mar 23, 2011 1:35am
Quoting Larseg
He is asking the wrong questions... He should ask..

How is it with Stocks vs Forex thinking about the:
1. Spread
2. risk&reward
3. volatility
4. week-end gap
5. discretionary vs mechanical trading
6. time spent watching the market
7. expectations of return
8. news
9. general trend
10. Myths and facts
whut?
  • #411,754
  • Mar 23, 2011 1:37am Mar 23, 2011 1:37am
Quoting pkimnyc
whut?
Differences on top of my head stocks vs fx...
  • #411,755
  • Mar 23, 2011 1:37am Mar 23, 2011 1:37am
Quoting Pips-and-Dip
yeah, my apoligizes ... I will ... blame it on my broker?

In all honestly, I am not a Elliot wave person, I read

http://www.amazon.com/Technical-Anal...0861914&sr=8-1

a few years ago and then realized that I was fitting the market to my opinion and not identifying the waves, and then discovered that 99% of traders bend charts to their agenda {not you in particular - just making point}.

I like stuff that runs into a wall and either gets knocked...
lol. so true.
  • #411,756
  • Mar 23, 2011 1:39am Mar 23, 2011 1:39am
Quoting Larseg
Differences on top of my head stocks vs fx...
to me, all same except spread and weekend gap. plus the new stuff i learned, uptick rule.
  • #411,757
  • Mar 23, 2011 1:45am Mar 23, 2011 1:45am
Quoting T.E.Lawrence
To wake up and see +268 pips - this gives you more energy in the morning than cup of coffee:

Attachment
Nice trade, how was your setup for TP
  • #411,758
  • Mar 23, 2011 1:51am Mar 23, 2011 1:51am
shall we expect a retest @ 1.4050 area?
Read the chart... Fundies are catalyst...
  • #411,759
  • Mar 23, 2011 1:52am Mar 23, 2011 1:52am
Im long now.

Anticipating price going up. Price going beyond 4145 invalidates long
  • #411,760
  • Mar 23, 2011 1:55am Mar 23, 2011 1:55am
Quoting satheesh
shall we expect a retest @ 1.4050 area?
i am.
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