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  • #426,221
  • Apr 21, 2011 1:40am Apr 21, 2011 1:40am
Quoting kenfen69
http://www.babypips.com/school/forex-pivot-points.html
Thanks kenfen. Its great to feel like going to kindergarten again.

Happy Longs for EU and GU
  • #426,222
  • Apr 21, 2011 1:41am Apr 21, 2011 1:41am
you know ,it is the truth.
Attached Image
A chart helps those who can read it.
  • #426,223
  • Apr 21, 2011 1:42am Apr 21, 2011 1:42am
Quoting PriceVolume
LOL. Well, if the COMEX defaults on delivery, paper goes to zero. The physical stuff, however.......
I do have some coins, I have been itching to sell them for sometime now, so last year, I took a brick out of a wall, and cemented them in. Took a page from Jessie Livermore on that one...
Look Sharp/Trade Tight
  • #426,224
  • Apr 21, 2011 1:42am Apr 21, 2011 1:42am
[quote=Wulfgar;4561794]Im a long term channel trader and I trade what I see. the market will do what it wants and i am ready either way... if it goes back down then I have levels along that way I look at levels of contention( numbers which repeat mathematically over time or clusters) to play off of.
Currently i have several positions on EU long from 1.2002 on up and we are currently in the middle of a large monthly channel which goes from about 1.3728 to 1.4911 with many many channels in between them


and fyi I actually dont even use candlesticks or anything to trade. I trade purely by mathmatical analysis and pages of numbers(aka my "charts").

my friends call me rainman....lol!


but to each thier own my friend and I hope we all make lots and lots of pips! [/QUOTE


hats off to you. you must have ballz of steel to snowball a trade position trading that way. Thats how you make the MAD MONEY.

Jessie livermore was a genious on position trading and scaling in
AVT INVENIAM VIAM AVT FACIAM
  • #426,225
  • Apr 21, 2011 1:43am Apr 21, 2011 1:43am
Quoting thelws
The thing about trailing stops is that it can be too tight sometimes. a 30 pip trail is easily hit. Just take EU today for example. If I had shorted, I'd probably be stopped out now with a 30 pip SL. Its that easy to get hit.

Problem is... putting a too large trail is almost equivalent to just setting at breakeven. Well, this one is still a lesson in progress. Maybe one day I'll find a good way to use trails.
Your odds would be alot better by taking daily trend position they ride higher and lose lesser, which is long. Before you sleep, set SL at breakeven and trailing at 20+ pips, much better if you're 10-20 pips ahead.

She looks really tired after the 3rd attempt triple top on m5 chart, pullback could happen soon before further up.
Make it rain baby
  • #426,226
  • Apr 21, 2011 1:46am Apr 21, 2011 1:46am
Quoting PayTheLimit
I do have some coins, I have been itching to sell them for sometime now, so last year, I took a brick out of a wall, and cemented them in. Took a page from Jessie Livermore on that one...
When I get an itch to sell silver, I just look at the ratio to gold. If it's compressed enough and I expect a pullback, I trade the silver for gold. Rinse, repeat....but I always hold a core of both....
  • #426,227
  • Apr 21, 2011 1:47am Apr 21, 2011 1:47am
The European focus will be on the IFO data today. A slight pullback is expected due to spill-over effects from Japan, but the recent PMIs were 'OK' so something of a non-event is likely. Spain's success in selling bonds has helped shift the focus slightly, away from Greece's woes, and the next obstacle is the probability that politicians will start to squeal about euro over-valuation imminently. We're still on our way to EUR/USD 1.50.
  • #426,228
  • Apr 21, 2011 1:47am Apr 21, 2011 1:47am
Quoting PriceVolume
When I get an itch to sell silver, I just look at the ratio to gold. If it's compressed enough and I expect a pullback, I trade the silver for gold. Rinse, repeat....
you ever follow the gold/platinum spread?
Look Sharp/Trade Tight
  • #426,229
  • Apr 21, 2011 1:47am Apr 21, 2011 1:47am
Quoting johncen
u r very lucky

ITS GOOD TRADING NOT LUCK! YOU HAVE TO FORGET ABOUT LUCK IN THIS GAME DON'T LIKE TRADES RUNNING OVER NIGHT MYSELF
rat
  • #426,230
  • Apr 21, 2011 1:47am Apr 21, 2011 1:47am
Quoting mdrive
Euro is in a one sided trade, indicating a major reversal setting up. it will happen on the easter sunday trading or for sure next week it will one sided trade to the downside. there will be no opportunity in averging.
Nice post..
  • #426,231
  • Apr 21, 2011 1:48am Apr 21, 2011 1:48am
Silver & gold are good prospects for the time being
  • #426,232
  • Apr 21, 2011 1:49am Apr 21, 2011 1:49am
Quoting SwissTrade
Silver & gold are good prospects for the time being
its a bubble
Ambition
  • #426,233
  • Apr 21, 2011 1:50am Apr 21, 2011 1:50am
Quoting PayTheLimit
you ever follow the gold/platinum spread?
I've recently stuck my toe into platinum. And palladium. But I'm a gold/silver junky......
  • #426,234
  • Apr 21, 2011 1:50am Apr 21, 2011 1:50am
Quoting FxPlayboy
Your odds would be alot better by taking daily trend position they ride higher and lose lesser, which is long. Before you sleep, set SL at breakeven and trailing at 20+ pips, much better if you're 10-20 pips ahead.

She looks really tired after the 3rd attempt triple top on m5 chart, pullback could happen soon before further up.
Actually you did open my mind a little. I can see now that trailing stops are only useful in the presence of a trend.

In a confused market, its better to just set at breakeven. I will test this going forward.
  • #426,235
  • Apr 21, 2011 1:53am Apr 21, 2011 1:53am
the current metals frenzy is like every bubble in history everyone thinks it will never go down only up tulips in holland , internet bubble , and the realestate bubble it will probably rise for some time though
Ambition
  • #426,236
  • Apr 21, 2011 1:54am Apr 21, 2011 1:54am
What is the TalentFX indicator saying today? Long or short?
  • #426,237
  • Apr 21, 2011 1:54am Apr 21, 2011 1:54am
[quote=the redlion;4561813]
Quoting Wulfgar
Im a long term channel trader and I trade what I see. the market will do what it wants and i am ready either way... if it goes back down then I have levels along that way I look at levels of contention( numbers which repeat mathematically over time or clusters) to play off of.
Currently i have several positions on EU long from 1.2002 on up and we are currently in the middle of a large monthly channel which goes from about 1.3728 to 1.4911 with many many channels in between them


and fyi I actually dont even use candlesticks...

lol thanks man Im def no jesse livermore!

My strategy normally includes a position entry with 2 TP targets... I treat the 1st one as adding to my "stop loss account" and the 2nd as a profit builder

I then let the last leg ride and move my SL down to BE

It is a great way to build HUGE risk free positions... I generally then use major major areas of confluence that develop over time to slowly creep my overall stop up as well as major macro-economic driving fundamental factors.

ofcourse I say all this till we get to the summer doldrums months when all the big dogs are out of the game and we get in these tight channels when i put my"scalper" hat on, load up the 5 min charts and go crazy with price action!!! lol!
  • #426,238
  • Apr 21, 2011 1:54am Apr 21, 2011 1:54am
I took a long position earlier tonight when the price broke above the 4546 resistance when it retraced a little and found support at 5EMA. I had my SL set 10pips below the 10EMA at that time for a max loss of ~15EMA. Now as I am getting ready for bed I will probably take profit on half my position and leave the rest on a 20pip trailing stop. First day at FF and I learned something to help my trade already! Thanks for everyone's contribution

Right now I am curious as to how the hourly candle will end...I want to get in on the short side but the price action is not allowing me to do so...yet. I may take a small speculative short with extremely tight stop if the hourly candle closed with a bearish one and liquidate my longs. Hmm
  • #426,239
  • Apr 21, 2011 1:56am Apr 21, 2011 1:56am
Quoting jsg007
What is the TalentFX indicator saying today? Long or short?
i dont think in those terms only go with the flow currently thats long check my last chart
Ambition
  • #426,240
  • Apr 21, 2011 1:57am Apr 21, 2011 1:57am
Quoting PriceVolume
I've recently stuck my toe into platinum. And palladium. But I'm a gold/silver junky......
for me it was always silver too, traded a little platinum, but those guys in NY where beyond crooks, I mean the took it to a new level...when this silver does sell off, it will be one for the record books. I'm guessing when it does take a breather, the will be quoting it 10/20 cents wide...the bastard always thins out on the breaks, in fact I would look for any widening of quotes as a sign...
Look Sharp/Trade Tight
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