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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #7,141
  • Nov 2, 2011 11:39am Nov 2, 2011 11:39am
Quoting drtorque
nothing new by the FED.
right
  • #7,142
  • Nov 2, 2011 11:45am Nov 2, 2011 11:45am
Quoting Pbh
right
There were 3 members saying (last statement) that they didn't need to do easing, but know they are all saying they need to do further easing.

This might help the risk appetite, but I'll focus on the press conference

Pbh
  • #7,143
  • Nov 2, 2011 11:47am Nov 2, 2011 11:47am
Quoting Blobik
Seems their statement will be healthy for your short.

EDIT: just when I wrote it price returned back. Perhaps everybody is awaiting press conference?
yup yup... im concerned too, 30 pip bounce???
moved my SL to 3790.. waiting...
  • #7,144
  • Nov 2, 2011 11:49am Nov 2, 2011 11:49am
I am in short on the release. Expect more of the same talk out of the ECB
Normaly would not touch a v pattern but the lead to the announcement was as Mindset said a weak bull

edit: placed positions strictly by the weakness of pa at release time. If it reverses will get out fast.
  • #7,145
  • Nov 2, 2011 11:49am Nov 2, 2011 11:49am
Quoting drtorque
yup yup... im concerned too, 30 pip bounce???
moved my SL to 3790.. waiting...
Ah, she just took of my SL at BE before continuing downward. Don't worry, now she should drop like a stone.
  • #7,146
  • Nov 2, 2011 11:53am Nov 2, 2011 11:53am
Btw, any predictions where she may stop falling? (she is not gaining too much momentum, after all)
  • #7,147
  • Nov 2, 2011 11:54am Nov 2, 2011 11:54am
Quoting Blobik
Ah, she just took of my SL at BE before continuing downward. Don't worry, now she should drop like a stone.
Drop because no QE or?
If there was easy money lying around,no one would be forcing it into your
  • #7,148
  • Nov 2, 2011 11:55am Nov 2, 2011 11:55am
Quoting Blobik
Ah, she just took of my SL at BE before continuing downward. Don't worry, now she should drop like a stone.
Mmmm thanks, I guess...
Man I know the feeling.. Sometimes you're on a roll, whatever you think happens, sometimes just the opposite..
One thing works for me is to take a break, and not look at the charts, at least for 15 min - couple of hrs..
  • #7,149
  • Nov 2, 2011 11:56am Nov 2, 2011 11:56am
Quoting FXMindset
Drop because no QE or?
No QE
Kill the ego, or it will kill the mission.
  • #7,150
  • Nov 2, 2011 12:00pm Nov 2, 2011 12:00pm
Quoting AaronWard
No QE
Yeap,I know there's no QE bro,I'm just like to know why he assume the price would drop like a stone..heh
If there was easy money lying around,no one would be forcing it into your
  • #7,151
  • Nov 2, 2011 12:01pm Nov 2, 2011 12:01pm
Quoting FXMindset
Drop because no QE or?
you know better bro,
its what the chart says..

we gonna have to wrestle it..
  • #7,152
  • Nov 2, 2011 12:01pm Nov 2, 2011 12:01pm
Quoting FXMindset
Yeap,I know there's no QE bro,I'm just like to know why he assume the price would drop like a stone..heh
Cause my short got taken out Just a joke, drtorque got it perfectly

ADD: I wonder, how shoud I get in now... Perhaps I will wait for some small TF correction... or the conference. Hope she won't drop too heavily
  • #7,153
  • Nov 2, 2011 12:03pm Nov 2, 2011 12:03pm
Quoting FXMindset
Yeap,I know there's no QE bro,I'm just like to know why he assume the price would drop like a stone..heh
I thought it was a general question why it is dropping like a stone. My answer is no QE. I think his is that he has magical stoploss powers--every time his stop gets hit, it is a sure sign that markets will reverse.
Kill the ego, or it will kill the mission.
  • #7,154
  • Nov 2, 2011 12:08pm Nov 2, 2011 12:08pm
Quoting drtorque
you know better bro,
its what the chart says..

we gonna have to wrestle it..
my chart said not yet
btw close long @ + 10 pips
Attached Image (click to enlarge)
Click to Enlarge Name: EU 4H.png Size: 37 KB
If there was easy money lying around,no one would be forcing it into your
  • #7,155
  • Nov 2, 2011 12:08pm Nov 2, 2011 12:08pm
Quoting AaronWard
I thought it was a general question why it is dropping like a stone. My answer is no QE. I think his is that he has magical stoploss powers--every time his stop gets hit, it is a sure sign that markets will reverse.
Indeed. And any time I cut my loss, My TP gets hit (sometimes within 15 mins!). Either some magnificent news pop out, or sth like that. I start to think about using my margin call as a SL. After all, few more SLs and there will be no point setting them up anymore. Either I got really dumb recently, or am very unlucky. Like more than 15 losing trades in a row. Or maybe I am "overleveraging time" trying to do too many things. Maybe few hrs a day is not enough for me to trade efficiently.
  • #7,156
  • Nov 2, 2011 12:08pm Nov 2, 2011 12:08pm
Quoting AaronWard
I thought it was a general question why it is dropping like a stone. My answer is no QE. I think his is that he has magical stoploss powers--every time his stop gets hit, it is a sure sign that markets will reverse.
Hehe,Btw thanks yah
If there was easy money lying around,no one would be forcing it into your
  • #7,157
  • Nov 2, 2011 12:16pm Nov 2, 2011 12:16pm
Blobik,
I do not wish to intrude but are you watching what price does as it comes near your entry level?

If it is moving in the direction of the desired trade you are going with the flow, and looking to get carried along with everyone elses orders.

If you are getting stopped out a lot then you are the one getting feed off by the whales. The whales have all sorts of algorithms that target the shrimp. (no offense intended) But if you sink a hook in the whale it will tow you along.
  • #7,158
  • Nov 2, 2011 12:16pm Nov 2, 2011 12:16pm
Quoting Blobik
Indeed. And any time I cut my loss, My TP gets hit (sometimes within 15 mins!). Either some magnificent news pop out, or sth like that. I start to think about using my margin call as a SL. After all, few more SLs and there will be no point setting them up anymore. Either I got really dumb recently, or am very unlucky. Like more than 15 losing trades in a row. Or maybe I am "overleveraging time" trying to do too many things. Maybe few hrs a day is not enough for me to trade efficiently.
I would seriously recommend the book by Al Brooks that MLA keeps talking about. And spend a lot of time with the 5 minute charts, at least at first. This is not because the 5 minute charts are better... but because they are faster. And this means your experience in reading chart patterns comes all that much faster.
Kill the ego, or it will kill the mission.
  • #7,159
  • Nov 2, 2011 12:20pm Nov 2, 2011 12:20pm
Quoting AaronWard
I thought it was a general question why it is dropping like a stone. My answer is no QE.
In general I have the same feelings. I think I mentioned it few times already, that on Wednesday after press conference EUR should be flying... down. Heavily, like a stone.

The fact that the significant drop already occured lowers my expectations however. But still I am waiting for the conference to enter a short. I think it seems the best solution... Right now I guess we will slightly retrace (tiny tiny upward movement, using high TFs maybe unnoticeable ). And after an hour we should start the show.

I am even considering entering a small position even just before the conference. It is like gambling, but, on the other hand it is tempting.
  • #7,160
  • Nov 2, 2011 12:27pm Nov 2, 2011 12:27pm
Quoting Blobik
Cause my short got taken out Just a joke, drtorque got it perfectly

ADD: I wonder, how shoud I get in now... Perhaps I will wait for some small TF correction... or the conference. Hope she won't drop too heavily
well I took profit @16, and switched to long, if you'll not gonna shoot me, scalping, tho, will wait for opprtunity to short again shortly..
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