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  • #505,381
  • Aug 1, 2011 10:47am Aug 1, 2011 10:47am
Quoting needpips
I have tried your daily trading....Im up 200 pips....and much less stress, Im very glad I tried it! Thx again
Daily charts are much clearer and rarely whipsaw... If you can figure out what the current momentum is and when retraces happen... it's all pips from there!

Biggest realization for me was learning the difference between those two.

But, I do hate it when retraces end up turning into current momentum. End up closing the order out a bit early. lol
  • #505,382
  • Aug 1, 2011 10:48am Aug 1, 2011 10:48am
Quoting santouri
Seems little support for EUR or as they show € ...
I'm still short from 1.4450, one of the best noobish decisions that I could make!
Where do you think support will hit it?
Covered my shorts at 1.42034 and I think that's for me today!
GL everyone!
  • #505,383
  • Aug 1, 2011 10:50am Aug 1, 2011 10:50am
Quoting Venice
Ello miss Doc Hope things have been wonderful for you...!

Same ol, same ol going on in here. hehe.
Hello V, hope trading has been going well for you. Still ripping into each other I see Am still playing around with the new platform. Will post some charts tomorrow evening if I enter any trades
  • #505,384
  • Aug 1, 2011 10:50am Aug 1, 2011 10:50am
Quoting Smurf123
I fully agree with you, sometimes the charts do fake you out, there is nothing wrong with that. At the same time, I think that the fundamentals of price action trump any "reason" you can come up with.

As far as posting my "million dollar" account. This isn't a pissing contest. I'm just saying how hilarious it is to watch all these noobs try and pick the bottom in a falling market.
No thats not what you said at all, you basically berated anyone who asked why it dropped and acted like they were stupid for not just trading off of TA on a chart.

Asking why it dropped so hard and fast was a very legitimate question for many reasons.

I think you are the one that should be laughed at because it's obvious you are the noob trying to come in here and impress people with your awesome incite........"just trade what the charts show you if you want to make money....dont ask why."
  • #505,385
  • Aug 1, 2011 10:51am Aug 1, 2011 10:51am
anyone else seeing 4150 next stop?
  • #505,386
  • Aug 1, 2011 10:52am Aug 1, 2011 10:52am
Quoting Venice
Daily charts are much clearer and rarely whipsaw... If you can figure out what the current momentum is and when retraces happen... it's all pips from there!

Biggest realization for me was learning the difference between those two.

But, I do hate it when retraces end up turning into current momentum. End up closing the order out a bit early. lol
Inserted Video
I gotta dollar .. I gotta dollar .. I gotta dollar .. HEY HEY HEY HEY
  • #505,387
  • Aug 1, 2011 10:53am Aug 1, 2011 10:53am
Quoting PayTheLimit
lol, nice...
not me,lol
  • #505,388
  • Aug 1, 2011 10:54am Aug 1, 2011 10:54am
London closed. Am done for the day, good start of the week and the month.

Muppets can misbehave at will.



See y'all at the open tomorrow.
  • #505,389
  • Aug 1, 2011 10:54am Aug 1, 2011 10:54am
Quoting needpips
anyone else seeing 4150 next stop?
Possible, but 5,15,30,1H are all into oversold. As you see theres already been a huge short move.

Personally I wouldn't get in now, might be selling to close to a bottom and or a strong retrace.

IMO, unless you already short with profit locked in, it's not a good place ot enter.
  • #505,390
  • Aug 1, 2011 10:54am Aug 1, 2011 10:54am
Hey Attila, just wondering why don't you use a broker who average's out your old position with the new position when you add a new position to an underwater position?
HK

Quoting attila
What I'm doing is Not recommended. To be honest I was not expecting this huge drop today and I was getting ready to start working on getting out of those shorts.....

I said before. My entire way of life is designed around not using S/L.... Not for beginners...
  • #505,391
  • Aug 1, 2011 10:55am Aug 1, 2011 10:55am
great day finished myself for the day

good pipping everyone.
rat
  • #505,392
  • Aug 1, 2011 10:55am Aug 1, 2011 10:55am
Quoting needpips
anyone else seeing 4150 next stop?
I've been eyeballing 4140 since early last week. Currently working on churning through the first demand zone on the h4. Got a bit to work through and may be rough down at this point in time.
  • #505,393
  • Aug 1, 2011 10:55am Aug 1, 2011 10:55am
My two shorts for the day on EUR/USD and EUR/GBP went well.... could have gone a hell of a lot better if I kept them open just a little longer, and those scalps could have turned into big gaining positions, just those 2 pushed my account 6%, I can only imagine what i would be up if i kept them open
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  • #505,394
  • Aug 1, 2011 10:55am Aug 1, 2011 10:55am
Quoting needpips
anyone else seeing 4150 next stop?
It should ,but momentum not there now and offers coming ,will see
  • #505,395
  • Aug 1, 2011 10:56am Aug 1, 2011 10:56am
Quoting Venice
I've been eyeballing 4140 since early last week. Currently working on churning through the first demand zone on the h4. Got a bit to work through and may be rough down at this point in time.
im on the ride with you.... USD debt deal may give an extra jolt down...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #505,396
  • Aug 1, 2011 10:57am Aug 1, 2011 10:57am
Quoting hkkhanus
Hey Attila, just wondering why don't you use a broker who average's out your old position with the new position when you add a new position to an underwater position?
HK
It doesn't bother me at all, to the contrary. I like it this way.... Besides, because I live in The People's Republic of The United States, my choice of brokers is awfully limited....
  • #505,397
  • Aug 1, 2011 10:57am Aug 1, 2011 10:57am
I am done for today... it turned out it wasn't such a bad day as it looked.
+122 pips - over and out, later geezers
Don't look at me I am lost too
  • #505,398
  • Aug 1, 2011 10:59am Aug 1, 2011 10:59am
Quoting deeZG
Correct. And that's something that proper money management solves. It's enough to be right 6-7 out of 10 times (and charts are) to be pretty profitable.
My win ration is even lower than that and I still do very nicely. I'm right about 4 out of 10 times. The key being tight stops at significant levels. My stops are usually no more than 10 to 15 pips.

Today's epic trade for me started with a short at 4426 with a stop at 4437. Sold half that position at 4350, let the rest ride until with hit the 4200. Point being, one good trade that captures the trend can make up for many failed attempts.

If any of you are interested in learning how to improve your trading I found the book Attacking Currency Trends by Greg Michalowski to be a real help. His techniques are simple yet effective and won't leave you feeling like the market is running you over.

I'm not paid to endorse anything, I'm just trying to help. Forex is filled with so many scamers that it took me a while to find a decent book that was not a get rich quick scheme.
  • #505,399
  • Aug 1, 2011 11:00am Aug 1, 2011 11:00am
6 x 12

had a doctors appointment this morning so missed most of the move. haven't been able to trade much for over a week due to a pinched nerve in my elbow. too much computer time is what the doc said and i think he is right
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  • #505,400
  • Aug 1, 2011 11:01am Aug 1, 2011 11:01am
Quoting AllyB
6 x 12

had a doctors appointment this morning so missed most of the move. haven't been able to trade much for over a week due to a pinched nerve in my elbow. too much computer time is what the doc said and i think he is right
Traders elbow....damn occupational hazards
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