Thanks for the vote of confidence Pipkiller! 
- #4,443
- Oct 21, 2011 8:57am Oct 21, 2011 8:57am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Smart move, stick around, learn and get a non expiring demo account and practice, practice, practice. Find what works for YOU and ignore everyone elses trades. Do keep their trading styles in mind though.
I'm happy to have you here and believe you can contribute and help us learn while learning yourself.
Stay Rod. Contribute what you know. Learn what you need. Don't hide and stagnate. Get back on the horse but just for the first little while wear full protective gear (demo account or micro-lots).
Hi-oh Silver!!!
Those who say it cannot be done should not interrupt those who are doing it
- #4,444
- Oct 21, 2011 9:03am Oct 21, 2011 9:03am
Cheers PT I'll most definitely be staying this thread has thought me a lot and I know it'll teach me more so along with this and some mateial that Alorente is sending I hope to be of more service to subscribers and to my own account once I get things back in order
- #4,445
- Oct 21, 2011 9:06am Oct 21, 2011 9:06am
- Joined Sep 2011 | Status: I make Rambo look like a boy scout. | 1,472 Posts
I second that.
Stay Rod. Contribute what you know. Learn what you need. Don't hide and stagnate. Get back on the horse but just for the first little while wear full protective gear (demo account or micro-lots).
Hi-oh Silver!!!
I don't care which way the market is going as long as it's going my way
- #4,446
- Oct 21, 2011 9:07am Oct 21, 2011 9:07am
The dollar is selling across the board.
There are many possible factors here. One or more of them could be at play. I will outline them below.
Short Euro and remaining that way. That's just the way it is !
- #4,447
- Oct 21, 2011 9:07am Oct 21, 2011 9:07am
- | Membership Revoked | Joined Aug 2011 | 7,263 Posts
If there was easy money lying around,no one would be forcing it into your
- #4,448
- Oct 21, 2011 9:08am Oct 21, 2011 9:08am
- | Joined Oct 2011 | Status: Trader | 1,010 Posts
The dollar is selling across the board.
There are many possible factors here. One or more of them could be at play. I will outline them below.
1. Two Fed members (don't ask me which ones right now) are tooting their horn in public about further easing. (The market loves that)
2. The Fed is still providing USD loans to the ECB (USD negative when it gets exchanged for Euros)
3. US econ data was not that bad and corporate earnings have come in okay for the most part (Less likelihood for a US double dip recession so money flows from USDs to risk...
Very nice PipTrapper thanks for your effort. I especially agree on point 1 and 4 
- #4,449
- Oct 21, 2011 9:09am Oct 21, 2011 9:09am
IBFX even has Nano lots. Sometimes they run a special and let you open a live account with their $50.
- #4,450
- Oct 21, 2011 9:13am Oct 21, 2011 9:13am
- | Membership Revoked | Joined Aug 2011 | 7,263 Posts
If there was easy money lying around,no one would be forcing it into your
- #4,451
- Oct 21, 2011 9:16am Oct 21, 2011 9:16am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
After a ver-little thinkwhile I will probably go short from 1.40, if we get there some nice rejections. Then perhaps I will try longing from the rising trendline, if we get there after testing 1.40. If 1.40 breaks, I will have a buy stop ready. Will see, if the consolidation continues... or we get high and this weeks formation was a bullish flag.
This opinion may change when market does sth crazy or I get more time to think.
I don't buy or sell on breakouts. I buy/sell on pull-backs
Let me explain...
In an uptrend, I wait for a swing low on the H4 before placing a buy. I consider a swing low to be a fibo retrace of the previous swing low to swing high of at least 50% and before I buy I like to make sure the 50% fibo is going to hold because I really prefer taking that long from the 61.8% fibo.
From my experience I have found that more often than not, when price retraces to the 61.8% fib, unless it is a very strong move, price bounces off the 61.8% and returns to the 50% for at least a visit. This is how I decide if I made the right choice. If it reaches back to the 50% and breaks further towards the 38.2%, I feel more comfy with my trade. If it bounces off the 50% aggressively or doesn't quite reach it before turning around to head back to 61.8%, then I feel less comfy about it and based on price action I may decide to close the trade in profit.
Also more often than not, again as long as the trend is not extremely strong, if price retraces to the 78.6% or 88.6% fibo line, it revisits 38.2% again and sometimes even 23.6%
Of course in the case of the uptrend I was describing, ideally the price will just aggressively bounce off the 50% or 61.8% and continue the trend upwards.
I invite you to take your fib tool and go exploring in the EUR/USD H1 and above charts to see for yourself.
Again I want to stress that these are MY observations and it is up to you to see if you observe the same behavior.
Cheers
PT
Those who say it cannot be done should not interrupt those who are doing it
- #4,453
- Oct 21, 2011 9:33am Oct 21, 2011 9:33am
- Joined Dec 2010 | Status: Stop Pretending | 5,275 Posts
Mark ... Everything you have been told is a LIE
- #4,454
- Oct 21, 2011 9:34am Oct 21, 2011 9:34am
- Joined Jul 2008 | Status: "Not all information is beneficial. | 1,724 Posts
Read just about any headline: Stocks advance on Euro "HOPES". Commodities gain on Euro "HOPES".
Did I bold those?
I never knew HOPE was a strategy that works out real well. I mean how is this one working out?
- #4,455
- Oct 21, 2011 9:36am Oct 21, 2011 9:36am
- Joined Dec 2010 | Status: Stop Pretending | 5,275 Posts
Mark ... Everything you have been told is a LIE
- #4,457
- Oct 21, 2011 9:44am Oct 21, 2011 9:44am
I have heard it said many times, that markets must capitulate before a corretion really is over and the proper direction can take hold. What is it going to take for EUR bears to capitulate? I mean, we are seeing lots of it in this forum. I imagine there is lots of it everywhere?
What would bring a final capitulation by the bears? 1.45? A psychological number? When you start thining that way, and they way it seems to work, is that when the bears give up and become bulls, the bull takes off his mask and was really a bear all along and eats...
- #4,458
- Oct 21, 2011 9:47am Oct 21, 2011 9:47am
- Joined Sep 2011 | Status: I make Rambo look like a boy scout. | 1,472 Posts
Flat E$ +52 pips. 240 minute upper supply zone, marked in red, held and is rejecting price and can be seen very well on the 60.
If I look to step back in long, I'm looking at a retest of the breakout on the 15 @ 1.3810 or possibly lower demand zone @ 1.3780. I find that often on strong rallies you won't get a deep pull back pullback in larger TF supply and demand zones and have to dig into the smaller TF like the 5 & 15 to pick an entry
I'm not looking for any shorts on a big risk on day like today unless we get up around 1.4040 supply zone close to the weekly supply zone.
Added another piece to the $Yen trade as well
If I look to step back in long, I'm looking at a retest of the breakout on the 15 @ 1.3810 or possibly lower demand zone @ 1.3780. I find that often on strong rallies you won't get a deep pull back pullback in larger TF supply and demand zones and have to dig into the smaller TF like the 5 & 15 to pick an entry
I'm not looking for any shorts on a big risk on day like today unless we get up around 1.4040 supply zone close to the weekly supply zone.
Added another piece to the $Yen trade as well
I don't care which way the market is going as long as it's going my way
- #4,460
- Oct 21, 2011 9:53am Oct 21, 2011 9:53am
- Joined Sep 2011 | Status: I make Rambo look like a boy scout. | 1,472 Posts
I don't care which way the market is going as long as it's going my way