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  • #491,461
  • Jul 16, 2011 11:00pm Jul 16, 2011 11:00pm
Quoting sifyragnarok
ummm plz tell me what does PA stand for ???
This mean price action my brother.
Following the current trend
  • #491,462
  • Jul 16, 2011 11:07pm Jul 16, 2011 11:07pm
so.. if retail fx is prohibited... then what..?.. we cant trade?...

fk man.. this sux ass...
  • #491,463
  • Jul 16, 2011 11:23pm Jul 16, 2011 11:23pm
Been watching the 1966 Batman film on netflix...

man, this is hilarious... lol
  • #491,464
  • Jul 16, 2011 11:47pm Jul 16, 2011 11:47pm
Quoting pkimnyc
If the regulators do not establish a regulatory regime for these transactions, then retail forex dealing would be prohibited.

The temporary rule approved by the SEC this week, which went into effect Friday, allows the firms to continue dealing in retail forex contracts until the SEC decides whether or not to adopt a more comprehensive oversight regime.

The SEC said it will consider a number of avenues, including proposing new rules to protect consumers, allowing retail brokers to operate as they do today, and possibly prohibiting retail...
Its legal until july 16th 2012 as of now. I am not worried as of now, to much money in this which provides or strong lobbying and *cough cough* bribes *cough cough*
I gotta dollar .. I gotta dollar .. I gotta dollar .. HEY HEY HEY HEY
  • #491,465
  • Jul 16, 2011 11:59pm Jul 16, 2011 11:59pm
Quoting Venice
Yep. Been at this three years now and since I have switched to the daily chart... yes, I try to push for 50% a month. I also try to get it done over maybe 10 total trades a month, and this is across 5 pairs). I try and wait for the perfect setup and leverage accordingly. I just need a few really good trades a month that I can ride for several hundred pips at at time.

There is a reason why my swing account bats a 95% win rate, generally with a very little draw down in comparison to the daily. I also know what levels that should it close above/below,...

Sounds good mate, across 5 pairs makes it a bit easier as the volatility is crazy in EU and its getting worse as we speak (thats why I often aim for around 25-30 pips (upper trend line or into supply/demand))...

I reckon we are moving towards 200-250 daily ATR within the end of the year before it drops down again...

Also that you are holding your cards tight waiting for those pocket aces is what gives you the edge..

Trading with some discretionary style together with being patient gives us the edge we carve so hard for...

However, many are not around long enough to expose their edge...

its simple, just do less
  • #491,466
  • Edited 12:13am Jul 17, 2011 12:02am | Edited 12:13am
Quoting sifyragnarok
ummm plz tell me what does PA stand for ??? and also whats TP1 TP 2 ect
Glossaries http://www.forexfactory.com/showthread.php?t=163132

tp- Take(target) Profit
pa price action
Mohan
  • #491,467
  • Jul 17, 2011 12:16am Jul 17, 2011 12:16am
Quoting pipper
I'm not sure to be honest.

Have weekly b/o south with a 4HR ABC down also with target 0.76ish

If it breaks 0.8102, we should know
im talking about the eur/usd not chf
those who can, do. those who cant, talk about those who can
  • #491,468
  • Jul 17, 2011 1:00am Jul 17, 2011 1:00am
Quoting -nate-dogg-
Interesting article:

http://www.bbc.co.uk/news/business-14172743

Gator should enjoy it!
its not that i enjoy it. its the fact that the b.s. by anyone with a financial motive playing it down. and having others believe the b.s.

the ecb says it will not print because its only mandate it to maintain inflation. the banks in your article are going to have to tighten the money supply that much further (the article says so). making the euro worth more because the supply is drying up (?). the bad thing about when something is expensive is, it is expensive. so the price falls (till demand stops fall) while the interest and the supply of money it tight.. so it crashes. 2008 like. ... but today we are not at 1.6 like in 2008. (closer to 0).. the fed cant lower more then we are today. little supply and little demand is a bitch. it don't happen often. so a violent move up is possible. but the engine of Europe (eu) is Germany. what they sell in the eu should remain constant.,, unless the piig's economy's tank? meanwhile japan and the u.s. have the biggest demand economies. needless to say with the quake and bad u.s. employment, we demand less. now add in china s korea and so on. the ones who peg their currency to the usd. as the dollar moves so do they. if the e/u is up= less Asia/u.s. demand

in case nobody noticed most of the commodity currencies are strong.. kiwi aud cad.... not all commodities come out the ground. some are grown .. guess who does most of the growing? the world has to eat. few places have the climate fertile soil and water like n America.

sure it can spike.. the sky is the limit. so i have a s/o.. i just dont beleive in fairy tales.
those who can, do. those who cant, talk about those who can
  • #491,469
  • Jul 17, 2011 1:24am Jul 17, 2011 1:24am
Quoting Venice
Yep. Been at this three years now and since I have switched to the daily chart... yes, I try to push for 50% a month. I also try to get it done over maybe 10 total trades a month, and this is across 5 pairs). I try and wait for the perfect setup and leverage accordingly. I just need a few really good trades a month that I can ride for several hundred pips at at time.

There is a reason why my swing account bats a 95% win rate, generally with a very little draw down in comparison to the daily. I also know what levels that should it close above/below,...
I consider myself as a good trader well I thought like that. The thing what got me in trouble was "panic trades" that after loss I would over leverage the next trade to get BE at least. That's what got me in big trouble (Domino effect) Lesson learned. Seems like I haven't been evaluating myself properly. Sometimes I had around 100 trades within 2wks with 80% percent hit rates but the RISK REWARD was that I lost more when I had a losing trade which could potentially wipe out 5 good trades with one loss. And with the 70-80% HIT RATIO, the EGO comes in to play that I no matter what I should be ahead with my equity curve. When the losing streaks came, I got very frustrated and doing panic trades, I even lost 31 trades in a row. Maybe you guys think it's not possible to lose 31 times in a row but it happened to me!!! But those trades were over leveraged and couldn't even wait a few ticks and my mind was racing with each tick and close with loss -5 pips 10 pips - 3 pips etc... This is very big mistake. After evaluating those trades now I can laugh it off. Before I had the mentality that I've learned from other people's mistakes<<< This is wrong statement, YOU LEARN FROM YOUR OWN MISTAKES...
  • #491,470
  • Jul 17, 2011 1:34am Jul 17, 2011 1:34am
Quoting Togu
I consider myself as a good trader well I thought like that. The thing what got me in trouble was "panic trades" that after loss I would over leverage the next trade to get BE at least. That's what got me in big trouble (Domino effect) Lesson learned. Seems like I haven't been evaluating myself properly. Sometimes I had around 100 trades within 2wks with 80% percent hit rates but the RISK REWARD was that I lost more when I had a losing trade which could potentially wipe out 5 good trades with one loss. And with the 70-80% HIT RATIO, the EGO comes...
losing 31 trades are possible. i've done that in the past also. that's when you over trade. in other words, taking revenge. in my style of trading... if one set up fails then it takes a while for another set up to form. i had to learn this the hard way. sooner or later though, you will realize it's your mistakes that you learn from, not from others. you've realized those mistakes because you have evaluated yourself.
  • #491,471
  • Jul 17, 2011 4:30am Jul 17, 2011 4:30am
Just a view
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  • #491,472
  • Jul 17, 2011 4:45am Jul 17, 2011 4:45am
Quoting Togu
Before I had the mentality that I've learned from other people's mistakes<<< This is wrong statement, YOU LEARN FROM YOUR OWN MISTAKES...
of course, you can learn fire will burn your finger from text book, but you will not feel it until you touch it.
if you willing to learn ,every bad trade will teach you lesson. its good to analyze reason for the bad trade before make another.
Mohan
  • #491,473
  • Jul 17, 2011 5:25am Jul 17, 2011 5:25am
The retail investor is joining any broker after signing the agreement and the agreement says forex is high risk business and as long he is aware of this he cannot complain that he lost money in forex . so in that case why they are concerend about it.

May be it is a game where in future if you are interested in forex to join through hedge fund or such instituation where they will trade on your behalf .
  • #491,474
  • Jul 17, 2011 5:46am Jul 17, 2011 5:46am
Not Finished millions of people are involved in forex directley and indirectley so they want them to be out of job. As it is job creation is
is in shit
  • #491,475
  • Jul 17, 2011 6:03am Jul 17, 2011 6:03am
My Trade plan.

Risking on a buy with stop loss the size of potential gain from selling.

After $22 I may take the loss...or a little above the PREVIOUS high
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Markets are not Random, they are designed!
  • #491,476
  • Jul 17, 2011 6:40am Jul 17, 2011 6:40am
copy it from http://www.forexfactory.com/showthre...77#post4786177
i like the end part

Inserted Video
Mohan
  • #491,477
  • Jul 17, 2011 7:47am Jul 17, 2011 7:47am
Forex never was invented for small retail people with 100$bucks accounts,at some stage banks did realize that they could make more money and create more liquidity by attracting the small people.And Leverage as well,how the hell can one with 100 dollars buy 50 grand ,now think how many loosing trades would you had if you traded the amount you owned in your account.According to last real statistics now,is that 95% of people are constantly loosing their money in this business.So even thou it sounds harsh but all the restrictions are working for the better,as the governments are trying to put stops on a speculative part of this business where an earthquake fart in Japan,or some moodys rating cut creates huge spikes and movements in currencies where government has to counteract to avoid any damage caused by those who are trying to profit from such events in any price and means.that's my 2c
  • #491,478
  • Jul 17, 2011 8:00am Jul 17, 2011 8:00am
Quoting Raza
My Trade plan.

Risking on a buy with stop loss the size of potential gain from selling.

After $22 I may take the loss...or a little above the PREVIOUS high
Nice chart! Like up
  • #491,479
  • Jul 17, 2011 8:20am Jul 17, 2011 8:20am
Quoting Raza
My Trade plan.

Risking on a buy with stop loss the size of potential gain from selling.

After $22 I may take the loss...or a little above the PREVIOUS high
I strongly recommend you not to buy (or sell) silver and gold on stenght (and weakness)
if you do it, keep a very tight stop, but if you do it, be aware that it could be hit by the strong volatility

Silver and gold can be bought at much cheaper levels, and silver in particular has been the best performer in the last two weeks.
If profit taking starts, it could go to 30 (where in my opinion will go before bottoming) before rising further
  • #491,480
  • Jul 17, 2011 8:40am Jul 17, 2011 8:40am
Well, sometime EuroUsd are hard to read their movement. it's a good pair but it's can get you down anytime. And beware on the event on market. Always need an eyes open for sure.
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