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  • #412,361
  • Mar 23, 2011 9:22pm Mar 23, 2011 9:22pm
Quoting FibbinArchie
EUR/USD Dips on Dow Jones Headline Moody’s to Downgrade Spanish Banks

EUR/USD has dipped to 1.4075 following a Dow Jones headline that Moody’s will downgrade the credit ratings of Spanish banks on Thursday as reported by Expansion in its internet edition.
Feed 'em to the PIIGS Errol (contains foul language)...
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  • #412,362
  • Mar 23, 2011 9:23pm Mar 23, 2011 9:23pm
Quoting Larseg
so there is no differences between stocks and forex?
Not sure what you meant there...
do trends work different?
do s&rs work different?
do stocks give different candle stick patterns?
do hh, hl or lh, lls work different?
do indis work different?
do price patterns work different?
  • #412,363
  • Mar 23, 2011 9:26pm Mar 23, 2011 9:26pm
Quoting hindustani
the general trend currently is to sell now, talk later ; 4035 should give some support if it does.
Thats what im looking at right now. Possible rebound off that to 4240
  • #412,364
  • Mar 23, 2011 9:27pm Mar 23, 2011 9:27pm
I'm with you... it's a good r/r too because your stop is just below the recent low...

Quoting Magix
Thats a pretty good thought too...

I am just seeing a double tap to support and watched 2 huge volume bars (M5) bringing us to weekly low...I am thinking a bit more of a retrace before lower lows, based on the chart I posted HERE.

It's not going to take long to figure out if I am wrong or not...so, I can watch this for a few mins before going for a nap...

  • #412,365
  • Mar 23, 2011 9:29pm Mar 23, 2011 9:29pm
Quoting fldash
I'm with you... it's a good r/r too because your stop is just below the recent low...
Correct Sir!

Did this previous chart make sense to ya Dash?

How did you make out with the previous charted areas we discussed?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #412,366
  • Mar 23, 2011 9:37pm Mar 23, 2011 9:37pm
Quoting Magix
Thats a pretty good thought too...

I am just seeing a double tap to support and watched 2 huge volume bars (M5) bringing us to weekly low...I am thinking a bit more of a retrace before lower lows, based on the chart I posted HERE.

It's not going to take long to figure out if I am wrong or not...so, I can watch this for a few mins before going for a nap...



yes, its hard to predict even for the psychic one

Its funny that we both have the same level for support = 74... but I am still short

oh well, its a free surf anyway

Lars,
  • #412,367
  • Mar 23, 2011 9:39pm Mar 23, 2011 9:39pm
don't know if this is news to you, but highly significant to the euro crosses...


EU leaders set to delay decision on bailout fund...

http://news.yahoo.com/s/nm/20110323/bs_nm/us_eu_summit
  • #412,368
  • Mar 23, 2011 9:41pm Mar 23, 2011 9:41pm
Quoting pkimnyc
do trends work different?
do s&rs work different?
do stocks give different candle stick patterns?
do hh, hl or lh, lls work different?
do indis work different?
do price patterns work different?
This is not to offend anyone but just to express how I look at the things:

do trends work different?
Yes

do s&rs work different?
No

do stocks give different candle stick patterns?
No

do hh, hl or lh, lls work different?
No

do indis work different?
Don't know, I don't use indis

do price patterns work different
Yes

Currencies move in range over a long period of time. For example euro from 0.8 to 1.6. But stocks may grow many times over. If one had bought euro at 0.8 in 1998 over this period of thirteen years it has witnessed many ups and down and still right in the middle of its range from 0.8 to 1.6.
The Thief of Wall Street
  • #412,369
  • Mar 23, 2011 9:42pm Mar 23, 2011 9:42pm
Oh Magix, I made out like a bandit today. Remember I'm micro trader and I made $8. That's 80 pips for me. You, and others, are helping a lot.
Quoting Magix
Correct Sir!

Did this previous chart make sense to ya Dash?

How did you make out with the previous charted areas we discussed?
  • #412,370
  • Mar 23, 2011 9:43pm Mar 23, 2011 9:43pm
is 409 in play here mofu so to speak lol
  • #412,371
  • Mar 23, 2011 9:44pm Mar 23, 2011 9:44pm
Quoting aarontdang
Long from 1.40817 ...
SL : 1.4069
TP ????

Strong support haven't break all day

Close Long for + 5 PIPS ....

can't stand it anymore
  • #412,372
  • Mar 23, 2011 9:45pm Mar 23, 2011 9:45pm
Quoting Larseg


yes, its hard to predict even for the psychic one

Its funny that we both have the same level for support = 74... but I am still short

oh well, its a free surf anyway

Lars,
Price hitting bottom happened to coincide with EJ test of daily roll over...I love coincidences...

What I seen on my 5ives are these 2 volume bars...I was looking for this line as an exit, and when the volume flooded in, I found the egress..(Short trigger M15 chart).

Anyways...like ya said, really, who knows...just a guess is all really...

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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #412,373
  • Mar 23, 2011 9:47pm Mar 23, 2011 9:47pm
Quoting aarontdang
Close Long for + 5 PIPS ....

can't stand it anymore
What? profit?
The Thief of Wall Street
  • #412,374
  • Mar 23, 2011 9:48pm Mar 23, 2011 9:48pm
Quoting pkimnyc
do trends work different?
do s&rs work different?
do stocks give different candle stick patterns?
do hh, hl or lh, lls work different?
do indis work different?
do price patterns work different?

Not sure who you are calling a noob, but I do in fact trade stocks for a living and have done so for a very long time. I find Forex harder in many ways much because of the stuff I said in an earlier post which you responded to with "huh?"

The list you are putting on here is pure TA stuff and doesn't really apply to where you get your edge, if you believe that an edge is easily achievable in stocks with TA I think you will have a hard time trading them. Not sying it wont work, but I would be surprised if you did it better than fundamental trading...

The main thing which creates that edge in stocks is news and how the under or overvalued companies are doing. In forex this is very hard of obvious reasons.

Ill leave this discussion there and if your keen on more discussions Im in boston.financialchat all day every day
  • #412,375
  • Mar 23, 2011 9:49pm Mar 23, 2011 9:49pm
Quoting fldash
Oh Magix, I made out like a bandit today. Remember I'm micro trader and I made $8. That's 80 pips for me. You, and others, are helping a lot.
Nicely done my friend.

I work a Micro account with my son and the one thing I caution him about is at this level thinking of it as Made $x...keep thinking of it in pips...

I gained 80 pips...

Working through on a micro level and taking some time to get to learn the rules of the game is a very good place to be, but with continued consistent gains, you will move out of the micro world...Keep thinking of pips, you will be able to set your weekly targets and come up with a strategy on what it will take for this to be the real deal for you..

Be something like this...If I make 200 pips per week, and I need to earn, $x per week, what size lot will I need to trade to maintain my goals.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #412,376
  • Mar 23, 2011 9:52pm Mar 23, 2011 9:52pm
Quoting Chicky
Currencies move in range over a long period of time. For example euro from 0.8 to 1.6. But stocks may grow many times over.
That's the central difference, isn't it?

"Rates," whether 'interest' or 'exchange' are mean reverting because they are tied to levels that keeps commerce flowing; if they deviate too much, that causes macro disruptions that tend to move them back to the "proper" general levels.

Stocks, on the other hand, are bound only by ultimate size of the company's markets for their products, and their profitability.

That is a big distinction, causing big differences in both PA and predictability of moves over longer TFs.
  • #412,377
  • Mar 23, 2011 9:52pm Mar 23, 2011 9:52pm
Quoting Magix
Nicely done my friend.

I work a Micro account with my son and the one thing I caution him about is at this level thinking of it as Made $x...keep thinking of it in pips...

I gained 80 pips...

Working through on a micro level and taking some time to get to learn the rules of the game is a very good place to be, but with continued consistent gains, you will move out of the micro world...Keep thinking of pips, you will be able to set your weekly targets and come up with a strategy on what it will take for this to be the real deal for you..

Be...
Especially when you start using higher leverage'ed lots. You will make your stomach turn several times over if you are thinking about the amount of cash you are making/losing.
  • #412,378
  • Mar 23, 2011 9:53pm Mar 23, 2011 9:53pm
below mofu

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Attached Image
those who can, do. those who cant, talk about those who can
  • #412,379
  • Mar 23, 2011 9:54pm Mar 23, 2011 9:54pm
Thanks man. Yea, I always try to gage in pips/day and per/week as everything is based on that.

Quoting Magix
Nicely done my friend.

I work a Micro account with my son and the one thing I caution him about is at this level thinking of it as Made $x...keep thinking of it in pips...

I gained 80 pips...

Working through on a micro level and taking some time to get to learn the rules of the game is a very good place to be, but with continued consistent gains, you will move out of the micro world...Keep thinking of pips, you will be able to set your weekly targets and come up with a strategy on what it will take for this to be the real deal for you..

Be...
  • #412,380
  • Mar 23, 2011 9:55pm Mar 23, 2011 9:55pm
Quoting Larseg
Not sure who you are calling a noob, but I do in fact trade stocks for a living and have done so for a very long time. I find Forex harder in many ways much because of the stuff I said in an earlier post which you responded to with "huh?"

The list you are putting on here is pure TA stuff and doesn't really apply to where you get your edge, if you believe that an edge is easily achievable in stocks with TA I think you will have a hard time trading them. Not sying it wont work, but I would be surprised if you did it better than fundamental...
not sure where in my posts calling anyone a noob. thanks for the invitation to the discussion, but not really interested. have a good one.
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