does anyone know why price action has been so bad in the last few hours?
- #33,866
- Edited 5:40am Sep 27, 2011 5:33am | Edited 5:40am
- Joined Oct 2007 | Status: Communicate-Advise-ShareExperiences | 4,564 Posts
I hope everything's fine...
Between 2-6hrs from now we hv 3 US Data and 1 guy from Fed to make a speech. Projected by consensus to be favouring USD. If everything materialize, at tht point in time , we will sell AU or otherwise.
Current time is 11:25 GMT. Usually there're London Fixes @ 11:00gmt and 16:00gmt. on any currencies which is/are necessary to be leveraged.
Lots of other things might spoil our tech analysis, such as CBs and the kinds , buying and selling in huge volume that causes supports and resistances to be blown.
Therefore, watch yr pants ... don't get wet in yr pursuit to be millionaires due to forex
Between 2-6hrs from now we hv 3 US Data and 1 guy from Fed to make a speech. Projected by consensus to be favouring USD. If everything materialize, at tht point in time , we will sell AU or otherwise.
Current time is 11:25 GMT. Usually there're London Fixes @ 11:00gmt and 16:00gmt. on any currencies which is/are necessary to be leveraged.
Lots of other things might spoil our tech analysis, such as CBs and the kinds , buying and selling in huge volume that causes supports and resistances to be blown.
Therefore, watch yr pants ... don't get wet in yr pursuit to be millionaires due to forex
- #33,867
- Sep 27, 2011 5:55am Sep 27, 2011 5:55am
- Joined Oct 2007 | Status: Communicate-Advise-ShareExperiences | 4,564 Posts
Hi all, i'm new to this forum and fx world, been trading mini acc for about 2 months. Been in wrong position more often so far. Have learned from several books and website about candlestick, fib, trend line and all but I still feel i have some missing link in my tradings. So I would like to learn from more experienced traders here.
Would like to ask what TF chart usually you use for scalping? and whether the candlestick formation in lower TF like 1m or 5m is reliable for scalping?
Many thanks in advance for answer.
Do u want to be an aggresive guy ? Most ladies would probably run away from u ...Which tfs depends , which one suit u best. U need to do trail run, bro. Nobody can tell u which one suit u best , taking into account yr personality and time . Can u absorb stress ?
Scalping means doing trades , entries and exits , in seconds or minutes. Which one is reliable ? U tell me ... NOT I tell u
-TEST THE BITTERNESS OF FOREX SCALPING-
- #33,870
- Edited 6:36am Sep 27, 2011 6:18am | Edited 6:36am
- Joined Oct 2007 | Status: Communicate-Advise-ShareExperiences | 4,564 Posts
I hv given u where're the mixed stops, potential buyers and potential sellers. What data to expect . It's up to you how to overcome those probabilities ...where to enter and exit. How to protect yr profits and ... IF you are wrong ... somebody (most probably Chillypiper) is going to take yr money 
- #33,871
- Edited 7:22am Sep 27, 2011 7:20am | Edited 7:22am
- Joined Oct 2007 | Status: Communicate-Advise-ShareExperiences | 4,564 Posts
Thanks for the reply Venn.
Lol, I'm married with kid, so no worries about run away ladies anymore.. just worry about running away pips now
As u said, it's painful, experienced it my self. Still, I think if done correctly it will reward us well too..
Below are method I use so far for scalping:
- Sell/buy when price are near to each high/low of price movement channel
- Fib retracement
- Candle stick formation
now I'm not sure if the Fib and Candle stick formation from lower TF (1m, 5m) are reliable for me to set the entry and...
If ur a scientist in certain field of study ... what would u do ? An entrepeneur would rake more money than an ordinary businessmen. Be an entrepeneur. Pls make yr own study ...
My nanny always call me ... Proffessor Forex
- #33,874
- Edited 9:05am Sep 27, 2011 8:59am | Edited 9:05am
- Joined Oct 2007 | Status: Communicate-Advise-ShareExperiences | 4,564 Posts
atm ...
World Indices = UP
Indices Futures = UP
Leading Stocks = UP
Commodities = UP
Rates & Bonds = DOWN
So far ... only one US minor Data has been released favouring USD. Another 2 will come ... but got to remember those accumulated buyers in AU ...
Therefore, Small Retailers like us = also UP
World Indices = UP
Indices Futures = UP
Leading Stocks = UP
Commodities = UP
Rates & Bonds = DOWN
So far ... only one US minor Data has been released favouring USD. Another 2 will come ... but got to remember those accumulated buyers in AU ...
Therefore, Small Retailers like us = also UP
- #33,875
- Edited 10:42am Sep 27, 2011 9:53am | Edited 10:42am
- Joined Oct 2007 | Status: Communicate-Advise-ShareExperiences | 4,564 Posts
- #33,877
- Edited 12:05pm Sep 27, 2011 11:06am | Edited 12:05pm
- Joined Oct 2007 | Status: Communicate-Advise-ShareExperiences | 4,564 Posts
- #33,878
- Sep 27, 2011 11:55am Sep 27, 2011 11:55am
- Joined Sep 2010 | Status: MR. NOBODY | 3,042 Posts
- #33,879
- Sep 27, 2011 12:49pm Sep 27, 2011 12:49pm
atm ...
World Indices = UP
Indices Futures = UP
Leading Stocks = UP
Commodities = UP
Rates & Bonds = DOWN
So far ... only one US minor Data has been released favouring USD. Another 2 will come ... but got to remember those accumulated buyers in AU ...
Therefore, Small Retailers like us = also UP
Today in morning i did enter in @Sell but I did not insurance for the World Indices (Dax, FTSE, SP, All UP).
Then, executed my SL.
