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  • #429,401
  • Apr 27, 2011 7:49am Apr 27, 2011 7:49am
Quoting gatorinla
don't know about daily pp.. at 4596 but 97 is one i would hold longer if broken... support still at 4603..
this support is stale now (old one), but sometimes they still have power.
those who can, do. those who cant, talk about those who can
  • #429,402
  • Apr 27, 2011 7:50am Apr 27, 2011 7:50am
Quoting attila
This number is absolutely correct. Wonder where you got it from

Life. That's just the way it is as you know. Too many here are lured in by fancy adds and banners saying how easy FX is. There are a few who get lucky right of the bat, but they are far and few between.

Equities and Commodities are a lot easier to trade then Currencies are as you don't have to worry about a pair with each side pulling and pushing in different and seperate directions.

Ah well, off my soapbox.
  • #429,403
  • Apr 27, 2011 7:50am Apr 27, 2011 7:50am
602 here we go
Verily, in every difficulties there is relief
  • #429,404
  • Apr 27, 2011 7:51am Apr 27, 2011 7:51am
Quoting cloggie
IF you can find them on the H4, start working your way down the lower TF's, they are just as easy to find. It takes screen time to find the if-then-if though. Keep writing levels down in the morning when you first start your day, see how they interact during the day and review them at night. Learn from them and see how you get on the next day. Keep doing that till you get the hang of it.

I have said this plenty of times before, it takes 10,000 hours of screen time to read price, there is no shortcut, no indicator, it just takes time and patience....

cloggie, what about the bear flag in usdx and the bull flag in eur/usd?
  • #429,405
  • Apr 27, 2011 7:51am Apr 27, 2011 7:51am
Quoting TheSwede
One thing I have started now is replaying the whole trading day after the kids have fallen asleep to see what trading opportunities there were and how price behaved.

That's the way to get there, keep taking screenshots and notes and review them at the end of the day. Both the good trades and the cr@p ones and see how you can improve the good ones and learn from the bad ones.

When you do take screenshots, make sure you include all TF's, both when you enter and when you exit, also keep looking for the if-then-ifs, they are so important to keep you in a good trade and to get out of a bad trade quickly. If an SL gets hit, take the screenshot, if it then reverses and continues in your direction do so again and figure out why your SL was in the wrong place and why your entry was so cr@p.
  • #429,406
  • Apr 27, 2011 7:52am Apr 27, 2011 7:52am
Quoting mercy seat
All fine here ...

We are waiting for BEN ... a few pips here ... a few pips there until that point of time ...

No big deals ...





lol hope he did not eat beans last night
  • #429,407
  • Apr 27, 2011 7:55am Apr 27, 2011 7:55am
Quoting EdgarNg
cloggie, what about the bear flag in usdx and the bull flag in eur/usd?

None of my interest for intraday purposes, there are hundreds of pips to trade inside the banner.
  • #429,408
  • Apr 27, 2011 7:55am Apr 27, 2011 7:55am
LOL!!! I know I have about 5K screen time hours at least so, I guess I still have some more to go. You really do need to put the time in. It's the hardest easy money to make.

Best Wishes to everyone.


Quoting PipChick
It probably took me longer than 10,000 hours..lol
  • #429,409
  • Apr 27, 2011 7:56am Apr 27, 2011 7:56am
Quoting gatorinla
this support is stale now (old one), but sometimes they still have power.
Well ... I must say I would be surprised if cuts lower than this levels you mentioned without FOMC Statement and FOMC Press Conference ...

Unless those two ... I would tend to buy at first ...

Anyway ... time for some small position adjustments ...
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #429,410
  • Apr 27, 2011 7:56am Apr 27, 2011 7:56am
Yes and thats a way of getting to 10000 h faster

Quoting cloggie
That's the way to get there, keep taking screenshots and notes and review them at the end of the day. Both the good trades and the cr@p ones and see how you can improve the good ones and learn from the bad ones.

When you do take screenshots, make sure you include all TF's, both when you enter and when you exit, also keep looking for the if-then-ifs, they are so important to keep you in a good trade and to get out of a bad trade quickly. If an SL gets hit, take the screenshot, if it then reverses and continues in your direction do so again and figure...
  • #429,411
  • Apr 27, 2011 7:58am Apr 27, 2011 7:58am
While the high impact US news still to come the camel still stand as strong as steel while the same crawling upside down in usdx , at first seems funny but not ,the prices will be high enough around again again !
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #429,412
  • Apr 27, 2011 7:58am Apr 27, 2011 7:58am
Quoting TheSwede
Yes and thats a way of getting to 10000 h faster

And spend the weekends reading everything you can get your hands on to get your head around the fundies and news. Spend days off looking back at correlation and spend a few hours on the weekends running your simulator to see how price behaves, find the levels and see how you can improve spotting them and papertrade them.

If you can find the time, and you'd be surprised how easy it is to find it if your heart is set on it, you can manage this business in about a year, even with a job. You just need to give up a lot to get there, the end is well worth it though.
  • #429,413
  • Apr 27, 2011 7:58am Apr 27, 2011 7:58am
Good morning.
Looks like you had a hell of a day, I'd have expected at least some more up/down, instead the zone was not left yet. Levels seems important then, as are breaches.
  • #429,414
  • Apr 27, 2011 8:00am Apr 27, 2011 8:00am
Quoting kill56


lol hope he did not eat beans last night
Hero calls followed by margin calls...
  • #429,415
  • Apr 27, 2011 8:01am Apr 27, 2011 8:01am
I cant say enough how much I appreciate the advice. Now lets see what happens at FOMC. (I'm staying out of trades)

Quoting cloggie
And spend the weekends reading everything you can get your hands on to get your head around the fundies and news. Spend days off looking back at correlation and spend a few hours on the weekends running your simulator to see how price behaves, find the levels and see how you can improve spotting them and papertrade them.

If you can find the time, and you'd be surprised how easy it is to find if your heart is set on it, you can manage this business in about a year, even with a job. You just need to give up a lot to get there, the end is well worth...
  • #429,416
  • Apr 27, 2011 8:01am Apr 27, 2011 8:01am
10,000 hours learning .
90% failure rate .
These are pretty much used in most business attempts .

some seem to think its only traders,but any business venture you attempt is highly likely to fail within 12 months to 2 years .

Generally for much the same reasons .

The perception that you start a business and become rich .

Rarely works like that, the businessman with the big house and nice car most likely worked his bollocks off and took a few risks .
making green pips large and red pips small this is my goal.
  • #429,417
  • Apr 27, 2011 8:01am Apr 27, 2011 8:01am
Quoting frevd
Good morning.
Looks like you had a hell of a day, I'd have expected at least some more up/down, instead the zone was not left yet. Levels seems important then, as are breaches.

Belt and Braces, belt and braces.
  • #429,418
  • Apr 27, 2011 8:02am Apr 27, 2011 8:02am
Quoting gatorinla
nope.. but atm 4646.8 is mid to 4562.3
r1 y is 4718.. untouched.
its rare not to hit a mid.. h close below b/o #
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those who can, do. those who cant, talk about those who can
  • #429,419
  • Apr 27, 2011 8:03am Apr 27, 2011 8:03am
Quoting paul1
10,000 hours learning .
90% failure rate .
These are pretty much used in most business attempts .

some seem to think its only traders,but any business venture you attempt is highly likely to fail within 12 months to 2 years .

Generally for much the same reasons .

The perception that you start a business and become rich .

Rarely works like that, the businessman with the big house and nice car most likely worked his bollocks off and took a few risks .

Spot on Pauly, now you know why I come down so hard on the !d!ot noobies here that portray this business in the wrong light.

Few here know what it takes to get there, but the few that have managed know there is no business in the world like it.
  • #429,420
  • Apr 27, 2011 8:05am Apr 27, 2011 8:05am
Quoting TheSwede
I cant say enough how much I appreciate the advice. Now lets see what happens at FOMC. (I'm staying out of trades)

Oh and get yourself the good papers, FT and WSJ, and some good magazines. Do not underestimate fundie/news triggers. Most here have no clue and miss out on very easy trades with humongous r/r ratio and little to no risk.

And as a last hint ignore about 35,700 members here, find the dozen or so good ones and pay attention to them.
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