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EurAnalysis Kindergarten 24 replies

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  • #12,901
  • Dec 1, 2011 7:31am Dec 1, 2011 7:31am
US Jobless claims

Actual 402k
Expected 390k
worse than expected
I don't care which way the market is going as long as it's going my way
  • #12,902
  • Dec 1, 2011 7:35am Dec 1, 2011 7:35am
Quoting picon1
If in doubt stay out. There's no shame in sitting on the sidelines until your confident of the trade.
May have pocketed the pips as TP if it would have a hit ..but missed the Target for now only for 3 pips ...
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  • #12,903
  • Dec 1, 2011 7:40am Dec 1, 2011 7:40am
Quoting knoholygrail
"A Small Amount Of People Controlling The Masses"

I repeat what lovepips posted to lead into my post.

Some here understand what is really going on. Most do not including most Americans. If they really understood Ron Paul would be the next President of the USA.

Let's say I had an extra Million to spend and I wanted to start the education process. I would print the following in every major newspaper in the USA.

I would get one hour of airtime to make a presentation to the American people.

Now the only thing we should understand...
Hi knoholygrail, just read this now, very good post. Your analysis of fundamentals is spot on as too is your advice on how to become a successful trader.

+5% monthly return - very good :-)

As a matter of interest, do you increase you trade size by 5% a month also?

trade well,

LP
patience is a virtue
  • #12,904
  • Dec 1, 2011 7:49am Dec 1, 2011 7:49am
Quoting knoholygrail
The least that I ever traded with was $5000 US and my results were not good. The ideal starting amount would be $10,000 US

I have traded $100,000 US and it was much easier to make profits.

I once traded a $5,000,000 Demo account and earned 50% in two months of trading and discovered a magic formula.

I can explain better using the $10,000 US Dollars number.

Let's say I was teaching you to trade or better still you knew how to trade. I can give you now and everyone else my formula that at least works for me.

Using $1000 US Dollars...
Honestly - I Think you are cute
For your spirit


Cheers
If there was easy money lying around,no one would be forcing it into your
  • #12,905
  • Dec 1, 2011 7:58am Dec 1, 2011 7:58am
Sometimes back I was reading an Interview with Paul Rotter : The Worlds most successful Trader. I find it good read

http://www.trading-naked.com/paul_rotter.htm
  • #12,906
  • Dec 1, 2011 8:05am Dec 1, 2011 8:05am
Quoting FXMindset
Honestly - I Think you are cute
For your spirit


Cheers
Btw am already short from 1.349 - lets see if I can catch 30 pips or not - enough for me
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If there was easy money lying around,no one would be forcing it into your
  • #12,907
  • Dec 1, 2011 8:10am Dec 1, 2011 8:10am
Quoting FXMindset
Btw am already short from 1.349 - lets see if I can catch 30 pips or not - enough for me
A very clean picture .. just see some springs @ 70-75 area may bump a little
  • #12,908
  • Dec 1, 2011 8:11am Dec 1, 2011 8:11am
Quoting knoholygrail
The least that I ever traded with was $5000 US and my results were not good. The ideal starting amount would be $10,000 US

I have traded $100,000 US and it was much easier to make profits.

I once traded a $5,000,000 Demo account and earned 50% in two months of trading and discovered a magic formula.

I can explain better using the $10,000 US Dollars number.

Let's say I was teaching you to trade or better still you knew how to trade. I can give you now and everyone else my formula that at least works for me.

Using $1000 US Dollars...
Great post, I am following similar formula at least in theory, but since I am novice trader its hard to control emotions. My best trades were when I put an entry order, added SL and TP and went asleep or unplugged my mouse.

Watching PA before an entry is good, but after an entry is not working for me
If there are green pips, exited out early and let the red pips run.

But since I started reading this thread things started to improve, I still do my own trades but obviously there is huge difference between sitting on your desk alone and being amongst traders community.

Thanks to PT and other Senior members, you guys are great.
  • #12,909
  • Dec 1, 2011 8:12am Dec 1, 2011 8:12am
Hello Everyone. I am very new to forex trading. I have been educating myself, practicing with a demo, and following this thread pretty closely. I will only be trading the EUR/USD pair until I fully know what I am doing.

Last month I grew a $50,000 demo account to $400,000 at the high. I ended the month at $350,000. 50:1 leverage. So far my entry were all purely guesses after considering news and looking at all the time charts from tick to month at a glimpse to gauge the trend. Then entered buy/sell orders on EUR/USD when it seemed right and just road the waves until it went in my favor.

I know this is reckless. But this has been my start.

This months demo started with 5k and is now at 8.8k. Still using pretty much same strategy as last month but thanks to this thread some of the news analysis is coming together for me. The chart analysis is still foreign to me other than visually seeing patterns and trends.

Me guess for today is bull. To much heavy movement up recently Plus month over month trend pattern is showing a reverse up. The Euro will not fail. There is too many powers that be that want it to be the world currency. I do not have the link to back this up but I remember reading somewhere that China and Russia wanted the Euro to be the currency that oil is traded on instead on the USD. So Europe has issues right now sure but they will be fixed.

Amateur I know. In any case hello to you all. Happy Trading. I be around.
  • #12,910
  • Dec 1, 2011 8:14am Dec 1, 2011 8:14am
Quoting knoholygrail
http://www.globalresearch.ca/index.p...t=va&aid=27952


....

"Knowledge Is Power" if you use it.
I was thinking about the following.

Because all world currencies are fiat, there value is based on supply and demand relative to eachother. If everybody is printing money than it will hold the inflation flat until somebody blinks. Or am I getting this all wrong ?
Inflation in things we need, Deflation in things we want.
  • #12,911
  • Dec 1, 2011 8:17am Dec 1, 2011 8:17am
No, inflation doesn't care about other currencies.

If your dollars are suddenly worth less because there is a greater supply, then producers will ask for more of those dollars to pay for their goods so that the real value they receive is roughly the same.
"Don't Panic..."
  • #12,912
  • Dec 1, 2011 8:19am Dec 1, 2011 8:19am
Quoting rekon67
A very clean picture .. just see some springs @ 70-75 area may bump a little
always clean and neat
If there was easy money lying around,no one would be forcing it into your
  • #12,913
  • Dec 1, 2011 8:23am Dec 1, 2011 8:23am
Quoting The_Genious
....

But since I started reading this thread things started to improve, I still do my own trades but obviously there is huge difference between sitting on your desk alone and being amongst traders community.

Thanks to PT and other Senior members, you guys are great.
In fact I agree with you ... our status says we are old members in forex factory but did not joined in any thread before this one ... we waited for a place where we will not be feeling as isolated ... and enrich knowledge....so ya ..
Quote
Thanks to PT
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  • #12,914
  • Dec 1, 2011 8:26am Dec 1, 2011 8:26am
Quoting lovepips
Hi knoholygrail, just read this now, very good post. Your analysis of fundamentals is spot on as too is your advice on how to become a successful trader.

+5% monthly return - very good :-)

As a matter of interest, do you increase you trade size by 5% a month also?

trade well,

LP
I will now explain why for myself it is easier to trade $100,000 US with less risk than $10,000 US.

Please bear with me.

With $10,000 US I can only have on two positions at any one time. In the example I gave my MAXIMUM loss would have been $750 if I was closed out as stated.

As you can see with EUR/USD now at 1.3483 I would be in the money by 6 PIPS and would not have on a second position.

Jobless claims over 400,000 again helps cool the SPIN and maybe the number on Friday will be under 100,000 or even 50,000 which will lead to a big sell off on the Dow and EUR/USD should go down with risk off and money flowing again to US Bonds.

If I was trading the $100,000 US Account with a MAXIMUM STOP LOSS of 100 PIPS and sticking to my 5% formula then calculate a loss of $1000 US if my position goes against me 100 PIPS however I can scale in other positions as it moves up against me and as long as I have the right short term trend I lock in my profits after a minimum 15 PIPS and that is why my winning % is so high. I get good entry, follow the money flow. Take my profits on a quick reverse and doing that about 25 times a day on every $50,000 US I trade I get by 1/2 % a day or $500 a day times 20 trading days equals $10,000 US Profits or 10% a month.

The above is ONLY MONEY MANAGEMENT STRATEGY.

I still need the right trend, the right entry point and more IMPORTANT the RIGHT EXIT STRATEGY.

You cannot make money trading forex though hoping for it.

Hard work, dedication, focus, desire, knowledge, patience are but some of the ingredients you need.

I hope this answers your questions.
  • #12,915
  • Dec 1, 2011 8:34am Dec 1, 2011 8:34am
Quoting rekon67
In fact I agree with you ... our status says we are old members in forex factory but did not joined in any thread before this one ... we waited for a place where we will not be feeling as isolated ... and enrich knowledge....so ya ..
We are on same page too, my sell order 3527 was missed as well and its hard to control the temptation to enter at these levels but I am staying out.

Earlier had a long in asian session went +50 pips so I am good
  • #12,916
  • Dec 1, 2011 8:35am Dec 1, 2011 8:35am
Quoting knoholygrail

Jobless claims over 400,000 again helps cool the SPIN and maybe the number on Friday will be under 100,000 or even 50,000 which will lead to a big sell off on the Dow and EUR/USD should go down with risk off and money flowing again to US Bonds.



Do you have educational info about money flows ? I am always eager to learn

regards

Thijs
Inflation in things we need, Deflation in things we want.
  • #12,917
  • Dec 1, 2011 8:39am Dec 1, 2011 8:39am
Quoting knoholygrail
I will now explain why for myself it is easier to trade $100,000 US with less risk than $10,000 US.

Please bear with me.

With $10,000 US I can only have on two positions at any one time. In the example I gave my MAXIMUM loss would have been $750 if I was closed out as stated.

As you can see with EUR/USD now at 1.3483 I would be in the money by 6 PIPS and would not have on a second position.

Jobless claims over 400,000 again helps cool the SPIN and maybe the number on Friday will be under 100,000 or even 50,000 which will lead to...
Cute
If there was easy money lying around,no one would be forcing it into your
  • #12,918
  • Dec 1, 2011 8:40am Dec 1, 2011 8:40am
Quoting The_Genious
We are on same page too, my sell order 3527 was missed as well and its hard to control the temptation to enter at these levels but I am staying out.

Earlier had a long in asian session went +50 pips so I am good
...There is no harm if the order did not executed .. now this was 2nd retest at the 1.352x level ... i dont think we are going back there again for today .. but tomorrow @ the first hour of NY we may have a spike up there...
  • #12,919
  • Dec 1, 2011 8:45am Dec 1, 2011 8:45am
Quoting knoholygrail
Hard work, dedication, focus, desire, knowledge, patience are but some of the ingredients you need.

I hope this answers your questions.
yes it did - thanks :-)
patience is a virtue
  • #12,920
  • Dec 1, 2011 8:48am Dec 1, 2011 8:48am
Quoting rekon67
...There is no harm if the order did not executed .. now this was 2nd retest at the 1.352x level ... i dont think we are going back there again for today .. but tomorrow @ the first hour of NY we may have a spike up there...
Apparently, I think it is time to calculate for a bigger target
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