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Price is everything

  • #17,681
  • May 7, 2011 12:56pm May 7, 2011 12:56pm
Quoting emene
Almighy God (the other one, not you Red) woke me up in the middle of the night and He showed me the future of EU.

Just kidding. Posting this to support Alex cards reading
Thank god at least one person here knows exactly why im betting on a long
  • #17,682
  • May 7, 2011 4:32pm May 7, 2011 4:32pm
Just discovered this thread last week. Alot of Reading/Studying to do.
Pure Gold.
  • #17,683
  • May 7, 2011 5:27pm May 7, 2011 5:27pm
l just don't get it, how can a few control the many?



those bastards, the goverment, the system, the matrix ........ bring it all down



those bastards
  • #17,684
  • May 7, 2011 6:38pm May 7, 2011 6:38pm
Quoting redsword11
l just don't get it, how can a few control the many?



those bastards, the goverment, the system, the matrix ........ bring it all down



those bastards
Trichet only needs to break wind to move the market 500 points, I didn't actually watch the ecb press conference but I'm guessing that he has not even confirmed rates will remain unchanged next month. That's quite a considerable advantage central banks have over other market participants...

Or are you just talking about global elites in general red? In either case I'd have to agree with your sentiment...
  • #17,685
  • May 8, 2011 3:30am May 8, 2011 3:30am
Quoting FibbinArchie
Trichet only needs to break wind to move the market 500 points, I didn't actually watch the ecb press conference but I'm guessing that he has not even confirmed rates will remain unchanged next month. That's quite a considerable advantage central banks have over other market participants...

Or are you just talking about global elites in general red? In either case I'd have to agree with your sentiment...

The odd thing about this is that Trichet can do whatever the fuck he wants, hes a reasonable person until some extent, he wants to watch inflation closely before taking any radical steps. Markets are hopped up on amphetamines these days because they expect another 50-75 BP increase in rates. What happened on Commodities and EURUSD on thursday/friday was a fucking shitstorm of epic proportions. There was literally no one willing to step up and start buying this. For reasons that emene posted im still remaining on my bullish stance given what happened on certain weekly candles, will throw up the charts later. Needless to say i got whiped out on my GBPUSD positions from the beginnign of the week.

I had 32 Trades on friday 2 were negative, all on M2 with longs and shorts being equal in tradesize and frequency. I see no point right now in trying to catch a swing with what happened on Silver crude and brent. I mean silver dropped 33% on that weekly bar... that was a major upset. I think brian called similiar targets to what i had in mind (36, 33 and 31) before any reversal and continuation could occur. Im waiting for confirmation at this point.

Next week will be only scalping for me so i might get to finish doing those scalping videos that were requested by a few people in here.
It seems that as annoying as this sounds to a lot of swingtraders in here that scalping is the safest route you can take, regardless of market moodswings.

I've already distanced myself a little bit in terms of frequency of posts and analysis because i truly believe that trying to catch anything right now is a retarded move in itself, waiting for a 20 pip setup is far more painful than getting those 20 pips in under 20 minutes of scalping.

Either way enjoy your weekends, will post the EU view in a couple of hours.
  • #17,686
  • May 8, 2011 3:41am May 8, 2011 3:41am
hi Fib,

perhaps he was referring to "The House of Rothschild" and likes....

Quoting FibbinArchie
Trichet only needs to break wind to move the market 500 points, I didn't actually watch the ecb press conference but I'm guessing that he has not even confirmed rates will remain unchanged next month. That's quite a considerable advantage central banks have over other market participants...

Or are you just talking about global elites in general red? In either case I'd have to agree with your sentiment...
  • #17,687
  • May 8, 2011 3:45am May 8, 2011 3:45am
Quoting Orbital
The odd thing about this is that Trichet can do whatever the fuck he wants, hes a reasonable person until some extent, he wants to watch inflation closely before taking any radical steps. Markets are hopped up on amphetamines these days because they expect another 50-75 BP increase in rates. What happened on Commodities and EURUSD on thursday/friday was a fucking shitstorm of epic proportions. There was literally no one willing to step up and start buying this. For reasons that emene posted im still remaining on my bullish stance given what happened...
You are like me, I don't see the logic in waiting for the "set up", if you are good at scalping...

yes indeed, past cpl of days have been a scalper's paradise, just if you're in a counter trend scalp, and you think you've gauged the momentum right, but it picks up and moves against you hard, you gotta get out quick otherwise your scalping profits can evaporate pretty quickly...

as for forecasting, yeah of course it is going to retrace at least some if not all of this move, but how much lower first, you know this Forex market is one heck of a tricky bugger...

Bottom line is in scalping, DO NOT move your 10 pip stop, any losers can then be recouped usually within minutes...
  • #17,688
  • May 8, 2011 3:48am May 8, 2011 3:48am
Quoting KennyZ
hi Fib,

perhaps he was referring to "The House of Rothschild" and likes....
Yeah Ken I think we can safely say that the international banking dynasties would come under the umbrella term of elites...

The Bilderbergers etc. they're all working in unison against the common people...
  • #17,689
  • May 8, 2011 6:18am May 8, 2011 6:18am
Quoting FibbinArchie
You are like me, I don't see the logic in waiting for the "set up", if you are good at scalping...

yes indeed, past cpl of days have been a scalper's paradise, just if you're in a counter trend scalp, and you think you've gauged the momentum right, but it picks up and moves against you hard, you gotta get out quick otherwise your scalping profits can evaporate pretty quickly...

as for forecasting, yeah of course it is going to retrace at least some if not all of this move, but how much lower first, you know this Forex market is one heck of a...
Yes indeed, thing with me on scalping is that usually a 5 pip stop is sufficient since i rarely ever get it wrong. The trickiest thing as you said is not getting emotionally attached to trades, even if they run for 10-15 pips after 15 i set the stoploss to BE +10 and wait, if it develops i let it run and scalp somewhere else in the mean time. But its always better to take out the 2-3 pips if it even gets to that. When im ultra heavy on trades i can take them out at fractions of pips.. 0.5-0.8 pips with heavy lotsize is usually epic win but can burn you hard and fast.

Indeed i agree that moving stop is the worst mistake you can do, sometimes you will need to widen the stop by 2-3 pips to account for the spread.

Right now there are only 2 swingtrades i want to "catch" and those are on silver and crude. That was a major correction and oil will not stay below 100$ on crude. Silver is a tricky story with it pretty much correcting for 33% over the course of 3 days.

Tough call really, ill be sticking to EU and GU scalps until all of this chaos resolves then its back to normal.
  • #17,690
  • May 8, 2011 6:55am May 8, 2011 6:55am
Quoting Orbital
Yes indeed, thing with me on scalping is that usually a 5 pip stop is sufficient since i rarely ever get it wrong. The trickiest thing as you said is not getting emotionally attached to trades, even if they run for 10-15 pips after 15 i set the stoploss to BE +10 and wait, if it develops i let it run and scalp somewhere else in the mean time. But its always better to take out the 2-3 pips if it even gets to that. When im ultra heavy on trades i can take them out at fractions of pips.. 0.5-0.8 pips with heavy lotsize is usually epic win but can burn...
Great summary, nothing I can really ad to that, 'cept maybe a ratcheting up/down on lot size depending on your performance and if you are in tune with the current momentum beat/rhythm...

Man just watching the Turkish GP, I used to be good friends at school with the MD of the venture capital firm (CVC) who own the rights to F1, it's all relative, but makes me feel pretty inadequate in my life achievements when I see what he's done...
  • #17,691
  • May 8, 2011 10:05am May 8, 2011 10:05am
Next trading session will be interesting.
UCAD looks so bullish in medium term. 2 levels of daily supplies (X) busted along with the daily inside pin in negative MACD territory is not looking good for bear. IMHO 974x will give a little fight but ultimatelly weekly will be targeting 990x.

Same goes with USCHF. Daily busted 2 levels of supplies. IMHO ,we are looking at 8860-9000-9200

Looking to buy at lower TF demand areas.
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  • #17,692
  • May 8, 2011 10:16am May 8, 2011 10:16am
SILVER

I am still not convinced by that piercing daily candle on daily. The weekly momentum bar can still push this down to 30-28
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  • #17,693
  • May 8, 2011 10:46am May 8, 2011 10:46am
Aussie and Kiwi still look good to sell. Daily correction closed below supply zones last friday.
IMHO we may test the upper wicks again for a good selling price.
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  • #17,694
  • May 8, 2011 10:57am May 8, 2011 10:57am
YEN pairs

JP index. Is that a hammer at daily supply?
Maybe they are now ready for a swing.
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  • #17,695
  • May 8, 2011 11:40am May 8, 2011 11:40am
Demand area.
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  • #17,696
  • May 8, 2011 11:50am May 8, 2011 11:50am
Quoting Jenks_fx
Demand area.
yeah thats the area to focus on for my money
  • #17,697
  • May 8, 2011 12:03pm May 8, 2011 12:03pm
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  • #17,698
  • May 8, 2011 1:25pm May 8, 2011 1:25pm
Quoting FibbinArchie
Great summary, nothing I can really ad to that, 'cept maybe a ratcheting up/down on lot size depending on your performance and if you are in tune with the current momentum beat/rhythm...

Man just watching the Turkish GP, I used to be good friends at school with the MD of the venture capital firm (CVC) who own the rights to F1, it's all relative, but makes me feel pretty inadequate in my life achievements when I see what he's done...
Might sound arrogant but my win loss ratio on scalps is 97%, risk is always relatively small given the high size of lots im playing with.

Not a big GP fan but i have friends up in Montreal who have backstage passes and invited me over a couple of times
  • #17,699
  • May 8, 2011 1:57pm May 8, 2011 1:57pm
Quoting Orbital
Might sound arrogant but my win loss ratio on scalps is 97%, risk is always relatively small given the high size of lots im playing with.

Not a big GP fan but i have friends up in Montreal who have backstage passes and invited me over a couple of times
how many scalps a day? dont think that a 97 % win loss is even possible....

worth to show a 97 % win loss ratio with a samplesize of at least 500 trades?
Hero calls followed by margin calls...
  • #17,700
  • May 8, 2011 2:16pm May 8, 2011 2:16pm
Quoting PhAnTi'
how many scalps a day? dont think that a 97 % win loss is even possible....

worth to show a 97 % win loss ratio with a samplesize of at least 500 trades?
I agree with that lol money talks bullshit walks
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