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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #11,321
  • Nov 23, 2011 2:21am Nov 23, 2011 2:21am
Quoting FX Tsunami
Hi frnds,

1.3525 seems to be a strong S/R line....
Yep, 3525 is last Friday close. Important number and quite nice place to load shorts (for me, I dont know your SL).

Yet while are we down here right now, I will be shorting from 3495. If we break, 3538 seems more safe to me though. Will be watching PA.

T.
"I know one thing, that I know nothing." Sokrates
  • #11,322
  • Nov 23, 2011 2:24am Nov 23, 2011 2:24am
Quoting AaronWard
first of all, you are still green -- inexperienced and in green pips both.

Second, you need to think of trading as a lot harder than fixing a car (or whatever). I don't know how long it takes to learn to fix a car, but I imagine that 6 months is probably not enough time to learn to do it well.

Third, I would actively look at ways to reduce your emotional pressure. This includes using smaller lot size, practicing some sort of activity like yoga, meditation or running, and counting your successes.

Fourth, if you have rules, and they are working...

I must go back to demo. And i'm in fx only since May (7 months). I can understand i must learn many stuffs before going into live which i have not done. And frankly, i feel like a stupid when you guys discuss about some topics or issues... you know the reason?? because i didn't know those stuffs... But everytime, i say to myself "you are new, you will learn things"... But that is gradually failing....

I may not be like what you think.... I dont have huge potential to do wonders... i just wanted to make money for living... but now i fear, i can't even do that... i was one of the weakest students from my school days and throughout college... So the same crap i'm doing here too... Seriously buddy, i quit the job just before i knew they will throw me out anytime sooner... my father works really hard to make even small money... he is a farmer... in India farmers are among the poor (may be everywhere)... Now i am worried i am not doing justice to him... failing in whatever stuff i am into...

You might ask that my location is written as "Singapore"... only for a while... came here to uncle's home... may be i should look for a job here so that i can earn better than in India... because as our Prime Minister say, "India is a rich country inhabited by poor people"

Sorry guys ,for being too personal... i know this thread is not for "personal discussions"..

Sorry PT !!!
  • #11,323
  • Nov 23, 2011 2:28am Nov 23, 2011 2:28am
Quoting bumapatria
and that is how i felt when i blew my first account. have some faith, some belief and strive that will drive u in the path of success. people fail and fail before succes. damn right it aint no straight path for sure
You are correct Buma.... It is a known fact, that people fail and fail before they succeed... i've to prepare myself pshycologically first... I'm too far away from that track....
  • #11,324
  • Nov 23, 2011 2:31am Nov 23, 2011 2:31am
Quoting FX Tsunami
I must go back to demo. And i'm in fx only since May (7 months). I can understand i must learn many stuffs before going into live which i have not done. And frankly, i feel like a stupid when you guys discuss about some topics or issues... you know the reason?? because i didn't know those stuffs... But everytime, i say to myself "you are new, you will learn things"... But that is gradually failing....

I may not be like what you think.... I dont have huge potential to do wonders... i just wanted to make money for living... but now i fear, i can't...
No rules against being personal. You can decide to learn FX or not. Lots of stuff to learn though. Before when I didn't know what others were talking about I just googled it. Lots of info. Then I went back and asked a question or two. Or then I expressed an opinion.

Offhand though, whatever you decided, work hard at it. And whatever you do, you wont get far without believing in yourself.
Kill the ego, or it will kill the mission.
  • #11,325
  • Nov 23, 2011 2:31am Nov 23, 2011 2:31am
Quoting Tom_D_Trader
Yep, 3525 is last Friday close. Important number and quite nice place to load shorts (for me, I dont know your SL).

Yet while are we down here right now, I will be shorting from 3495. If we break, 3538 seems more safe to me though. Will be watching PA.

T.
Yeah.... cool... Even i was thinking about 3538... You know, i am now tempted to buy... Planning for a buy limit @ 3425....

And of course 3538 is better to short... i have won several positions by shorting from that area...
  • #11,326
  • Nov 23, 2011 2:33am Nov 23, 2011 2:33am
Quoting FX Tsunami
The problem for me is MYSELF.
Omg calm down, take a deep breath, go outside on the fresh air.

You got spanked, you deserved it, finito.

Market aint running anywhere, there are new opportunities every day. He will wait for you.

T.
"I know one thing, that I know nothing." Sokrates
  • #11,327
  • Nov 23, 2011 2:37am Nov 23, 2011 2:37am
Quoting FX Tsunami
Sorry guys ,for being too personal... i know this thread is not for "personal discussions"..

Sorry PT !!!
No need to apologize. We are all here to share and learn.
Your mindset is part of trading.
I am going to say one word which will apply to all your issues you are experiencing. "PATIENCE"

Apply that word to:
1. Your learning curve.
2. Your trade entries
3. Your trade exits

Practice that first. Everything else will fall into place.

Those who say it cannot be done should not interrupt those who are doing it
  • #11,328
  • Nov 23, 2011 2:38am Nov 23, 2011 2:38am
Quoting AaronWard
I personally like to short a charging bull which has to be about the dumbest entrance possible.
Thats my favourite entry . But if you have seen Toms rating I posted two days ago, those #5 trades were exactly from this. Nevertheless, those #1 as well and they made me nice profit.
"I know one thing, that I know nothing." Sokrates
  • #11,329
  • Nov 23, 2011 2:44am Nov 23, 2011 2:44am
I have increased my long position at 1.3448, near the bottom of the base. Both the Trix and RSI continue to show bullish divergences to price. It is hard to rationalize a long move at this point considering all the background news, but I continue to follow the indicators for now. They tell me that pressure is building towards a sudden, explosive move to the upside which should break the top wall of the wedge.
Attached Image (click to enlarge)
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Observation is the path to discovery.
  • #11,330
  • Nov 23, 2011 2:45am Nov 23, 2011 2:45am
Quoting AaronWard
No rules against being personal. You can decide to learn FX or not. Lots of stuff to learn though. Before when I didn't know what others were talking about I just googled it. Lots of info. Then I went back and asked a question or two. Or then I expressed an opinion.

Offhand though, whatever you decided, work hard at it. And whatever you do, you wont get far without believing in yourself.
I am pretty much sure of staying in FX... atleast for part-time.... When i try to believing myself, all thoughts about my history come to my mind and spoils...

Anyway, i am not gonna leave as such... Have to take some serious steps... I would come to profit making ways...
  • #11,331
  • Nov 23, 2011 2:45am Nov 23, 2011 2:45am
EUR/JPY:
1. Short at 104.094

EUR/USD:
1. Short at 1.37676
2. Short at 1.37662
3. Short at 1.34851

Currently all in green
Those who say it cannot be done should not interrupt those who are doing it
  • #11,332
  • Nov 23, 2011 2:46am Nov 23, 2011 2:46am
Quoting Tom_D_Trader
Omg calm down, take a deep breath, go outside on the fresh air.

You got spanked, you deserved it, finito.

Market aint running anywhere, there are new opportunities every day. He will wait for you.

T.
Thanks for that Tom... I've always liked the way you speak
  • #11,333
  • Nov 23, 2011 2:49am Nov 23, 2011 2:49am
Quoting PipTrapper
No need to apologize. We are all here to share and learn.
Your mindset is part of trading.
I am going to say one word which will apply to all your issues you are experiencing. "PATIENCE"

Apply that word to:
1. Your learning curve.
2. Your trade entries
3. Your trade exits

Practice that first. Everything else will fall into place.


Thank you so much PT... you are always inspirational

And thanks for accepting my personal matters... I've got great friends here... I could feel that ....
  • #11,334
  • Nov 23, 2011 2:49am Nov 23, 2011 2:49am
Quoting PipTrapper
EUR/JPY:
1. Short at 104.094

EUR/USD:
1. Short at 1.37676
2. Short at 1.37662
3. Short at 1.34851

Currently all in green
Congrats!!!
Observation is the path to discovery.
  • #11,335
  • Nov 23, 2011 2:54am Nov 23, 2011 2:54am
In 10 minutes we will be seeing the overall EZ Flash PMI's
Manufacturing expected at 46.6
Services expected at 46.1

Below 50 indicates contraction

Once these figures are released, we will have a much clearer picture

The French and German figures were released earlier and they were a bit mixed.
Those who say it cannot be done should not interrupt those who are doing it
  • #11,336
  • Nov 23, 2011 2:56am Nov 23, 2011 2:56am
Quoting FX Tsunami
I am pretty much sure of staying in FX... atleast for part-time.... When i try to believing myself, all thoughts about my history come to my mind and spoils...

Anyway, i am not gonna leave as such... Have to take some serious steps... I would come to profit making ways...
If you are committed, then spend most of your time thinking about entries and exits. If you can do these two things well, you will make money. If you cant, you wont. It is really that simple.

Entries are particularly important. You will find it is a lot easier to believe in yourself when you can make a good entry than when you cant. Typically an entry needs at least two good reasons before you take it.
Kill the ego, or it will kill the mission.
  • #11,337
  • Nov 23, 2011 2:56am Nov 23, 2011 2:56am
Quoting Alorente
I have increased my long position at 1.3448, near the bottom of the base. Both the Trix and RSI continue to show bullish divergences to price. It is hard to rationalize a long move at this point considering all the background news, but I continue to follow the indicators for now. They tell me that pressure is building towards a sudden, explosive move to the upside which should break the top wall of the wedge.
look at the RSI, the trend of the last movement broken down:nerd:
  • #11,338
  • Nov 23, 2011 2:57am Nov 23, 2011 2:57am
Quoting AaronWard
Tom, Inflation is not necessarily a bad thing...
I think we had quite nice conversation about this topic yesterday. Conclusion was:

Inflation is bad when nation is unable to produce enough GDP to pay for rising costs of import.

So I agree from this point of view. In the end, it is bad.

But to the topic of how long it is good? Well, from long term point of view, imo inflation is never good . Because it gives people false illusion of production and then they become lazy. Thats why I called it cocaine.

Inflation is "free" GDP. Free for the lazy ones, who just get money from state, as part of inflationary policy is deficit policy, as you will pay less if you devaluate. Free for the employees in exporting company, which has higher and higher incomes for nothing.

But slowly destroying the ones who want to work for their own state. For farmers, for mechanics. If you work hard and someone keeps devaluating outcomes of your work and increasing costs of your inputs (import), it is not very comfortable for you. The only solution you have is to export, but there are just some goods which cant be exported.

T.
"I know one thing, that I know nothing." Sokrates
  • #11,339
  • Nov 23, 2011 2:57am Nov 23, 2011 2:57am
Quoting FX Tsunami
Thank you so much PT... you are always inspirational

And thanks for accepting my personal matters... I've got great friends here... I could feel that ....
My pleasure.

I would like to also draw your attention to your signature line

"You will get nothing without hardwork, what you get without hardwork will not last for long"

I would be inclined to change that to

"You will get nothing without a positive mental attitude (PMA). What you get without that will not last for long"

Cheers
PT
Those who say it cannot be done should not interrupt those who are doing it
  • #11,340
  • Nov 23, 2011 2:59am Nov 23, 2011 2:59am
Hey guys, any ideas how long is this ranging period going to last? BOOORING .

I didn't check my demo positions in a while, as since I paused my live trading I noticed that I was putting many other things "for later" and now my duties piled up, so I barely have time to look at any chart.

But it seems that so far I was right, that commodities will be biased to the downside (I suddenly changed my mind, when oil and gold broke their rising channels 6 days ago... too bad I was holding longs then). So EUR should get biased down as well (when it finally breaks out of this consolidation). Simple logic, but I think it should work.

And I think that breaking range that stood firm for so long means, that the move will (likely) be sharp, won't it? If so, then I think that Tom will soon double his green pips . Or maybe even triple, If he scales even more aggressive (is that possible to be even more aggressive bear, Tom ?).

I think we may break .33 and go straight for .31 area, as the defending of .34 - .35 took a lot of effort, so eventually if it fails, then .33 will be weak. Of course, if we break to the downside, as expected.

And I am still waiting for sth higher than 1.36 (1.365 perhaps?). Maybe I am naive, but I cannot help thinking of this as "a must" for the bulls to get lured. When a swimmer wants to dive, he usually makes a jump first, doesn't he? And 1.36 was just not satisfactory.
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