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  • #31,901
  • Aug 4, 2011 11:57am Aug 4, 2011 11:57am
Quoting OMGtrader
You have the wrong mindset if you thinking that way. You should be thinking of retrace prices that will yield another opportunity to short. Until the bottom is truly formed, you keep thinking of shorting. No one knows where the bottom is and that is why there is no one out there that can successful call them.
right.

any thoughts of retrace level? what do you expect?
big numbers are our friends...
  • #31,902
  • Aug 4, 2011 12:02pm Aug 4, 2011 12:02pm
Quoting deeZG
+1

although, i'll be looking for a higher pullback...somewhere around 1.0680 zone and then reload shorts
I like this med./longer term trade after a neckline break, but the trade is probably too expensive for me...
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  • #31,903
  • Aug 4, 2011 12:06pm Aug 4, 2011 12:06pm
I don't expect the pair to retrace much with the US markets still open. We may see some retrace during the Syndey/Tokyo session where things can quiet down a bit. Level of retracement, no idea. I will evaluate when it does retrace and go forth from there.


Quoting deeZG
right.

any thoughts of retrace level? what do you expect?
Trade what you see, not what you think!
  • #31,904
  • Aug 4, 2011 12:33pm Aug 4, 2011 12:33pm
  •  Cosi
  • | Joined Jun 2011 | Status: Little girl on the way! Due April!! | 36 Posts
Still short from 1.1050. S/L 1.0750 to lock in profits (will adjust as needed). Let’s see how long this will continue. I’m not thinking long opportunity till next week, maybe late next week. Second account to scalp all I can in the mean time.
  • #31,905
  • Aug 4, 2011 1:12pm Aug 4, 2011 1:12pm
Quoting Cosi
Still short from 1.1050. S/L 1.0750 to lock in profits (will adjust as needed). Let’s see how long this will continue. I’m not thinking long opportunity till next week, maybe late next week. Second account to scalp all I can in the mean time.
very nice
big numbers are our friends...
  • #31,906
  • Aug 4, 2011 1:42pm Aug 4, 2011 1:42pm
Uptrend still intact.As long as this line holds will be looking for long shots..
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  • #31,907
  • Aug 4, 2011 3:10pm Aug 4, 2011 3:10pm
if this thing punches through 1.044 (A HUGE SUPPLY ZONE) do NOT look to long it.

Mitch
  • #31,908
  • Aug 4, 2011 3:14pm Aug 4, 2011 3:14pm
Thursday Wrap

US markets collapsed -4.5%+ along with European markets -3%++
Sentiment very very negative

AU in straight slide down. It is most likely we see 1.039 level tagged some time Friday.

GL, don't be a hero in this market, heroes die early!
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Trade what you see, not what you think!
  • #31,909
  • Aug 4, 2011 3:17pm Aug 4, 2011 3:17pm
yep the board is RED all over. gold/silver are going to explode north.

Gold and silver took a combo-hit of profit taking and margain rises to cause a very nice dip which will be snapped up by the asian session in a heartbeat.

If the DJ,SP200,S&P500 cant grab traction its going to be a washout in all high yield currency pairs.
  • #31,910
  • Aug 4, 2011 4:28pm Aug 4, 2011 4:28pm
Quoting OMGtrader
You have the wrong mindset if you thinking that way. You should be thinking of retrace prices that will yield another opportunity to short. Until the bottom is truly formed, you keep thinking of shorting. No one knows where the bottom is and that is why there is no one out there that can successful call them.
Hi OMGT, Me too am a new trader, basically search for bottoms so that the market does not take a U turn on you....Perhaps you are right in calling the mindset wrong, but have seen many times the reversal is quiet sharp that too not @ any established S/R....
  • #31,911
  • Aug 4, 2011 4:37pm Aug 4, 2011 4:37pm
Personally, I don't care.

if people don't like what I have to say, they know where the ignore button is.

truth hurts I know...

people need to stop kidding themselves.


Was i shown respect here by others? No.

See me at 09 on AUD? really... oh, look 100 pips away from my TP, that was 200 pips ago, I'm now over 480 pips up on this pair.

My other pairs are in profit, and that's all that matters. if people want to cuss me, call me a idiot, a lair, or that Im on a demo account or what ever... then they are the ones that are lieing to themselves - but that's the problem with open forums, it allows their mentality show through which is really unfortunate.

I came here to share some views, again as with all open forums, one gets attacked due to small minded people. they will never advance in this industry.

and btw, its true, i know how to trade better than most people here on this forum, however, I did not also say that I get it right all of the time either.

do I make losses from time to time? Sure I do, but not all the time. Some weeks I have 100% weeks, some weeks I have 90% weeks, some weeks I have 80%, but I have never gone below 80% winners for over 5 years.

If you take a look at the figures of those that win and those that lose, you'll see it's about 18-27% that win, and the rest lose.

I'm not the only guy here who knows how to trade properly...

Take a look at the guys who know Elliot Wave Analysis on this forum - absolutely AWESOME!
also take a look at bbking, bbmac, paythelimit, and guys like that, they do well too.

they're open minded as much as I am, only difference is, they've been here longer than I have on this forum. we all essentially don't take crap from anyone either.

Granted, a NDA is not helping either, well, sorry. That's just the way it is.

I had already mentioned where you can find more information and if a person uses their imagination and typed the phrase I have been talking about all a long, one may find some resources.

Its of no wonder why people don't do well at trading, they don't think, they don't think outside the box..

and for the love of god... get off ones ass and do some research. I did.

Peace

Do good stuff

Steve

Quoting Jazznos
Who knows? SystemFX has made some bold claims now and before.. I hope hes being truthful, seems to have proof to back it up... Its true though that carrying on about yourself and bragging wont win too many friends around here. And saying stuff like "i know how to trade the right way but cant tell you cos i signed an NDA" isnt really helping either!

Whatever... If you can help others, great, we're all ears. If not people start to think youve just come here trying to sell something.
  • #31,912
  • Aug 4, 2011 5:02pm Aug 4, 2011 5:02pm
Quoting domino
so you talk like retail is smaller than you.. are you telling me your a commercial trader?
As i said.. I think like a "Market Maker"....

Quoting domino
at the best you are a large retail trader dont kid yourself...
thanks for the giggle.

Quoting domino
even hedgefunds are considered as large retail ..
You seriously don't know who you are talking to.

why do hedgefund managers hedge? because they don't really know where their portfolio is going, they hedge against each other because they can't trust their entire team to do well. They just don't know how to trade properly.

There are not many people who know how the "market markers" do things, when they enter the office and talk to each other from all over the world..

"How many positions have you caught going long, or short"...

they will share their figures...

if they caught 2 trillion going long, and caught 800 billion go short...

where do you think the market is going to go?

Up, or Down?

If you said "Up" , you're right, but does it keep going up from that point forwards? If you said to yourself yes, you're wrong in part.

they will trap those longs by stop hunting them (these patterns emerge to those who know what is about to happen)... then it reverses, trap the shorter's stops, they have now caught over 2 trillion worth of orders and open positions, some in the middle get lucky and make money.

The money the Market Makers make is used to go back the other way and stop all the 2 trillion's of orders that went long who now have gone short, trap them as well and ping back the other way.

That's what they do, and all of this happens at a certain time of the day.

Quoting domino
commercial primarily uses FX to hedge and holds positions against the grain to reduce risk for the team..
you're kinda right. but ask yourself, if they really knew what they were doing there is no reason to hedge against your team if they really knew how to trade or knew where their investment was going.

Quoting domino

your attitude shows me your probably not commercial and your use of the 1-5 min charts would have you thrown out of that industry.

ROTFLMAO... thank you, its nice to wake to a laugh

I don't use 1-5 minute charts for this method I use as I have already stated before.

Quoting domino

so at best you are large retail..
no I'm not.

Quoting domino
you signed NDA from what you said so that places you at a hedge, prop shop, or trading arcade... judging from your hotfx account with mt4 your not at a hedge because youd be using proprietary software and they wouldnt let you trade outside of the company you would manage your accounts at the same time..
I guess you're not too successful - that's a shame, because you definitely don't have my number.

That HF account is a clients account. I'm with over a dozen brokers.

I don't work for others, I work for myself. Why would I work for a company and let them take a big cut of what I make? that's just plain stupid.

Quoting domino
so im assume prop shop or trading arcade.. which makes you small retail trader.. I wouldnt get so full of yourself just yet.
LMAO

Quoting domino
your probably just getting into trading got a 50k-75k account moved your investment account over from your nice engineering job are trading by yourself or at a trading arcade that made you sign a NDA.. because they dont want people know theyre a scam. As far as I know trading arcades are the only ones that use shitty mt4... and wouldnt have you punch tickets for all those 1-5 min trades.

I just got into trading? OMG, where do you get this nonsense from?
I've been trading for over a decade now. half of that time I have had this knowledge of how the "Market Makers" work.

however, I agree, what the Market Makers do is bang out of order, totally not fair for newbies such as yourself.

So go do yourself a favor, do some research on how to spot what the market makers are doing, and I'll see you at the top


Quoting domino
which makes me wonder why join a website to beef yourself up when you havent quite made it in trading... you can put lipstick and a dress on a pig fancy it up alot you may even convince a couple of people its not a pig.. but when your all alone.. u know its just a pig.
I didn't come here to beef myself up, I got attacked just like how all open forums do. That tends to happen from time to time, not just me, but everyone who comes to these forums, as soon as someone like me explains what they do, how long they have been trading for, the type of win rate people achieve, small minded people come out of the wood works and attack the poster to say they are full of it, or they came to the site to sell something...

what a load of crock.

So, go do yourself the biggest favor you can do.... do more research, if you look hard enough you may very well find the information you need to advance to a level you'll be proud of.

Do good stuff

Steve
  • #31,913
  • Aug 4, 2011 5:30pm Aug 4, 2011 5:30pm
Dude, i was confused why when i said i was long and u started to list out indicators to prove i was wrong.

Too many times have i got misled by forummers saying that my trade was bad, i follow their advice, next moment i that my own forecast was right. Even if i were to lose money, i want it to be because of my poor analysis, not some guy behind a screen

I just want believe my own analysis, learn from it when i'm wrong. After getting stopped out and looking at the current price, i believe you are doing something right, very right in fact.
  • #31,914
  • Aug 4, 2011 5:46pm Aug 4, 2011 5:46pm
Quoting SystemFX2011
As i said.. I think like a "Market Maker"....



thanks for the giggle.



You seriously don't know who you are talking to.
...............................
..............................
a level you'll be proud of.

Do good stuff

Steve

Is this Steven Lee Jones ?
  • #31,915
  • Aug 4, 2011 6:14pm Aug 4, 2011 6:14pm
Quoting SystemFX2011
why do hedgefund managers hedge? because they don't really know where their portfolio is going, they hedge against each other because they can't trust their entire team to do well. They just don't know how to trade properly.
I agree with your post about the market makers, except you are overestimating how much power they have in my opinion. At times they can do what your describing, at times they can't. At times they will succeed and at times they will fail, just like everyone else.

Your quote above is incorrect. Just because they are called hedgefunds does not mean they all hedge. Also most Hedgefunds make money based on where they think the market is going. You should probably do a bit more research on them because you are very very wrong about hedgefunds.

i think you are mistaking hedgefunds for pension/insurance funds etc
  • #31,916
  • Aug 4, 2011 6:22pm Aug 4, 2011 6:22pm
Quoting SystemFX2011
Hey, Mr Croatia man... eat this.
Also, in your attachment where you have your trades sorted by profit care to click the profit column and show us the other side too??
  • #31,917
  • Aug 4, 2011 6:27pm Aug 4, 2011 6:27pm
Quoting havaiana
I agree with your post about the market makers, except you are overestimating how much power they have in my opinion. At times they can do what your describing, at times they can't. At times they will succeed and at times they will fail, just like everyone else.
Sorry, but you're underestimating WHO I KNOW!

I know EXACTLY how they work, and I know exactly how much power they have.

The Banks and these guys chat all the time, all at one particular time of each trading session. its at these certain time intervals the pattens start to emerge to trap shorts and longs.

Market Makers never lose, that's the entire point, they control what's going on.. they know exactly what is going on out there, they know exactly how many orders there are out there, they know exactly how many live positions are out there, they see everything.

What they are doing is so ugly, its bang out of order, border-line stealing.

I'm very sorry, but you're just speculating, you don't know any Market Makers personally. Your speculation does not help.

Quoting havaiana
Your quote above is incorrect. Just because they are called hedgefunds does not mean they all hedge. Also most Hedgefunds make money based on where they think the market is going. You should probably do a bit more research on them because you are very very wrong about hedgefunds.
If a position is going their way, there is no need to hedge, but if they know that if their position doesn't work out, they hedge against each other.

Quoting havaiana
i think you are mistaking hedgefunds for pension/insurance funds etc
Nope, not at all.

I don't reveal everything I know and i don't need to keep explaining myself all the time about what I know - which I guess leads to your speculation of what I know and don't know...

So stop it.
  • #31,918
  • Aug 4, 2011 6:29pm Aug 4, 2011 6:29pm
Why? since when does it state that I have to prove every trade I do?

The reason I showed that account was to shut the other guy up claiming I was trading on a demo.

Quoting havaiana
Also, in your attachment where you have your trades sorted by profit care to click the profit column and show us the other side too??

Just go and concentrate on your trades, don't worry about what I make. It has absolutely, respectfully, nothing to do with you.
  • #31,919
  • Aug 4, 2011 6:30pm Aug 4, 2011 6:30pm
that prick wouldn't know how to trade if it fell on his foot.

Quoting Pied Piper
Is this Steven Lee Jones ?
  • #31,920
  • Aug 4, 2011 6:45pm Aug 4, 2011 6:45pm
That's a problem bud...

Forums are so full of advice... it's hard to know who to listen to...

One of the major factors that a lot of people fall into, is the "emotional trap"...

We as humans are so greedy, despite our discipline not to be, especially in forex we don't listen to ourselves...

If you have one ounce of doubt in your mind about opening your trade, then you should do it on a demo, not a live.

if you open a few good trades, don't get over confident. a few good trades in a row will not make you confident.

Just because person A makes a good trade using the same indicators or analysis as you do, it doesn't mean each trade will come out the same using the same analysis.

As many of us agree here, indicators do lag - to a certain degree. They are there to act as a guide, not an assurance that the trade will go in your favor.

If you're jumping out of trades like I see MANY people here do after 10-20-40-50 pips, they are not "really" trading properly. They don't really know, respectfully - where the trade will go...

Let me give you a small example.

Let's say for instance like the AUD/USD that I called out for a TP of 1.0365 ish. where I was called out that the aussie was going to go to 1.09xxx

Why did that person feel that it was going to do that?

I'll tell you...

notice the support line that was broken?

How did I know it was going to get broken?

The patterns that emerge...

Now this is not really a market maker pattern, its a common pattern in pure price action analysis - even the Elliot Wave Analysis would of picked it out for a continuance of more down side to come.

When you see a HUGE move like that, the market will consolidate, it will do this 3 times...

ie..
a drop down, consolidate, a drop down, consolidate, another drop down, consolidate, then reverse.

3 moves to the down side, then back up again... this happens for the most part, however there are at times 4 moves even 5 moves to the downside.

now, get the 200 EMA out, if you're not using this in your studies, you're missing out BIG TIME.

Now focus on the daily TF...

from August 2010, we had the first touch of this line.
march 2011 we had our 2nd touch of this line.
now currently, we're attempting a 3rd touch of this line.

will it break 1.0360? good question, there does seem to be a lot of support at this level...

I will know more as days go by... but I would venture to guesstimate that we will bounce off this 200 EMA again, if and should it attempt to touch the 200 EMA line again, it'll break the major support and attempt a move towards 0.939xx (800 EMA).

We're at a key level right now, if the lows of previous moves is broken, 1.01xx is next.

If we bounce off the 200 EMA, then 1.06xx is to be seen before another attempt to push below the current level.

Do good stuff

Steve

Quoting jayjb
Dude, i was confused why when i said i was long and u started to list out indicators to prove i was wrong.

Too many times have i got misled by forummers saying that my trade was bad, i follow their advice, next moment i that my own forecast was right. Even if i were to lose money, i want it to be because of my poor analysis, not some guy behind a screen

I just want believe my own analysis, learn from it when i'm wrong. After getting stopped out and looking at the current price, i believe you are doing something right, very right in fact.
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