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  • #487,121
  • Jul 12, 2011 10:45am Jul 12, 2011 10:45am
Quoting pkimnyc
that, i agree.

The average retailer here has 2-3 pips to get in a trade, 2-3 to get out and they try to trade the 20 pip moves, you'd either be as lucky as the Irish or the world's best trader to make some money here, no point really, just wait for the range to go, and trade the next run. The market parked it here and lobbed one across the bow of the bureaucrats to see what they are going to do about it.
  • #487,122
  • Edited 10:48am Jul 12, 2011 10:45am | Edited 10:48am
Quoting swano
you must never make things a certainty and if your new you shouldnt be playing the 5mins and 1 m charts at all

look for longe times to trade or your bound to lose money
once your good at long term trading and can see chart movement with your naked eye then trade smaller times

remember you dont join the army at sgt or wo
you start at private and work up ok

time is a learning process and you need to learn to survive first ok
dont spend all your money

spend very very little and increase risk slowly slowly

till your very...
Thanks mate. I've been trading just over 2yrs, been lurking here for over a year, finally jumped in after overcoming the fear of being called a muppet by cloggie. Great guy in my view btw *waves*
I don't use any indicators, just identify levels and try read the chart like the matrix.
  • #487,123
  • Jul 12, 2011 10:46am Jul 12, 2011 10:46am
Quoting needpips
Id like it to just stop going east

Just don't be looking for shorts just yet......
  • #487,124
  • Jul 12, 2011 10:47am Jul 12, 2011 10:47am
Quoting gatorinla
scalp s 4002
still holding 4374 scalp short
smaller trade. based on mid support on usdx. at 75.88 mofu. stops wider here.

i was sleeping and missed 4021.. usdx wasn't ripe then anyway. i may have a full scalp at 4021 4010..

atm usdx knocking on the 75.88 door. risk is 4021 plus a few.
those who can, do. those who cant, talk about those who can
  • #487,125
  • Jul 12, 2011 10:47am Jul 12, 2011 10:47am
Quoting Ultimate6
Thanks mate. I've been trading just over 2yrs, been lurking here for over a year, finally jumped in after overcoming the fear of being called a muppet by Cloggy. Great guy in my view btw *waves*
I don't use any indicators, just identify levels and try read the chart like the matrix.

I will only call you a muppet when you show obvious stupidity and then I will do you a favour by gently reminding you in my friendly manner that trading is not for you..... all part of my public service really, most muppets are too thick to realise how cr@p they really are......
  • #487,126
  • Jul 12, 2011 10:48am Jul 12, 2011 10:48am
Quoting cloggie
Just don't be looking for shorts just yet......
(ty) agreed....been eying the 4050-4060 range ... and now 12est
  • #487,127
  • Jul 12, 2011 10:50am Jul 12, 2011 10:50am
Quoting Smokeymar
I'm a newb with a serious question, so please don't call me a muppet. Although, I might be one. What's wrong with a 20 pip move?
as long as your rewards are greater than risk and you know what you are doing, it's fine. but in consolidation phase, most people tend to lose more than the wins, resulting giving back, prolly, all the money they had made when market was trending. there are people who claims they've been profitable (?), but i had no such luck with that personally.
  • #487,128
  • Jul 12, 2011 10:51am Jul 12, 2011 10:51am
Quoting needpips
(ty) agreed....been eying the 4050-4060 range ... and now 12est

40
  • #487,129
  • Jul 12, 2011 10:51am Jul 12, 2011 10:51am
Quoting swano
indicators dont work, patterns dont work
gut s dont work
schematics do work, you learn how things happen by tape recording your mind to see things happen ok

or schemas whatever that memory thing in pychology get my drift
Ok nice advice and everything.... but what is your current view on the euro (not talking about the next 5 minutes) but your general "schema"?

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #487,130
  • Jul 12, 2011 10:58am Jul 12, 2011 10:58am
Nice range for the past 2 hrs between 1.40 and 1.396x. Seems that risk aversion is easing and we have small bias north.
Price = the amount a greater fool is willing to pay!
  • #487,131
  • Jul 12, 2011 10:59am Jul 12, 2011 10:59am
Quoting needpips
Id like it to just stop going east
Don't forget, the core of this market is institutions who were here yesterday and need to make sure they're here tomorrow. Moves like the one since Sunday night can put their risk, hedges, and derivatives marks way out of balance. There will inevitably be a period of time when the activity of restoring those measures goes on, one to another.

Not to say some jawboning or fact can't light the fuse again one way or the other, but absent that, there's going to be a period of twitching about.
  • #487,132
  • Jul 12, 2011 11:01am Jul 12, 2011 11:01am
Quoting OldQuant
Don't forget, the core of this market is institutions who were here yesterday and need to make sure they're here tomorrow. Moves like the one since Sunday night can put their risk, hedges, and derivatives marks way out of balance. There will inevitably be a period of time when the activity of restoring those measures goes on, one to another.

Not to say some jawboning or fact can't light the fuse again one way or the other, but absent that, there's going to be a period of twitching about.
great comment...I have often speculated something to that effect with these 12-15 pip 1 min candles coupled with extended sideways moves
  • #487,133
  • Jul 12, 2011 11:05am Jul 12, 2011 11:05am
Good morning everyone!
  • #487,134
  • Jul 12, 2011 11:06am Jul 12, 2011 11:06am
computer is playing up arh
  • #487,135
  • Jul 12, 2011 11:06am Jul 12, 2011 11:06am
Just sayin
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  • #487,136
  • Jul 12, 2011 1:16pm Jul 12, 2011 1:16pm
F@cking FED.
  • #487,137
  • Jul 12, 2011 1:18pm Jul 12, 2011 1:18pm
Quoting USD-Bear
good for You, I'm from 1.3958
closed @ 1.4048

Attached Image
Don't be a hero. Don't have an ego. Always question yourself
  • #487,138
  • Jul 12, 2011 1:19pm Jul 12, 2011 1:19pm
Quoting attila
Attachment
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  • #487,139
  • Jul 12, 2011 1:21pm Jul 12, 2011 1:21pm
Quoting attila
Attachment
...FF just back on line?
  • #487,140
  • Jul 12, 2011 1:22pm Jul 12, 2011 1:22pm
Quoting FishHead
I wonder how oversold this can get, my 4H and 8H are pretty deep down and the daily is on the edge of OS.
Heh, I guess that answers that.

Phooey to the people who said I was dumb for looking at the stoch.
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