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  • #581,141
  • Jan 7, 2012 4:15am Jan 7, 2012 4:15am
Quoting Chicky
I follow a goal of 1% plus or 1% minus a day entering only one trade per day. However, sometimes I go for more than one trade if market is volatile. Like today, I entered two trades. One 10 pip winner and other for 80 pips running. Both longs.

1/2% is a good target but it depends how many trades you can get. With your style of 10 to 20 pip trades, you should be able to manage 3 to 4 trades a day. The only issue is 15% to 20% spread (1.5 to 2 pip) per trade irrespective of the outcome of the trade, that is, you win or lose. You need a solid edge...

I am gonna ask one thing just out of curiosity bro , I see that you are A pro , but still you prefer to JUST grab 10 pips a day .... Why not more ???
Human
  • #581,142
  • Jan 7, 2012 5:19am Jan 7, 2012 5:19am
Quoting samdani786
Next Please
Interesting.
Beauty awakens the soul to act. Dante Alighieri
  • #581,143
  • Jan 7, 2012 5:30am Jan 7, 2012 5:30am
Sarkozy Threatens With War If Euro Fails

SARKOZY "END OF EURO WOULD MEAN END OF EUROPE, END OF PEACE"

WOW....interesting.....

happy a decade bday for euro
Bismillah
  • #581,144
  • Jan 7, 2012 6:12am Jan 7, 2012 6:12am
Quoting samdani786
Next Please

Nice setup
Fools Rushing
  • #581,145
  • Jan 7, 2012 6:50am Jan 7, 2012 6:50am
Quoting krunfx
Sarkozy Threatens With War If Euro Fails

SARKOZY "END OF EURO WOULD MEAN END OF EUROPE, END OF PEACE"

WOW....interesting.....

happy a decade bday for euro
merkel used same kind of words last years about war if euro ends, just fear mongering, election year as well for sarkozy

unrelated to that goldman see 1.20 in euro, sure there like 0-4 on there forecast from last year or could they be bluffing this time
  • #581,146
  • Jan 7, 2012 6:51am Jan 7, 2012 6:51am
Quoting sonicpunk32
Sorry for being a noob, but, I thought positive news for the USD would have caused */USD pairs to go down, and USD/* pairs to go up. Which is what I'm seeing happened. Meaning the EUR/USD did what it was supposed to do, go down, cause the USD went up.
Hi mate, the fact that you identified yourself as a noob proves you're not a noob. About yesterday's news, it was pure indecision. Here's the thing with trading news: don't just follow the native "good or bad" for USD or EUR policy on the calender. Get a book on fundamentals. A lower unemployment rate in the US is good news for the US economy. It turns risk on. Investors add to their positions or take on new positions and stocks rally. Whatever they're buying, they indirectly sell the dollar. So dollar countered pairs rally and dollar based pairs tank. Therefore the Euro was supposed to rally. But what I've noticed is, the NFP is a monthly trend setter and therefore, it might dip to the nearest demand and pick up buyers before commencing the rally. On the other hand, people have lost so much buying the Euro and are so scared of buying more even in the face of a 200k NFP release. I think I've tried a bit...u could use more help reading about fundamental releases and the Economy.

Quoting bittervenge
I don't think you are being a noob. You are right in thinking like that.

If I am missing something, then please let me know...
Just letting you know you're missing something. The Euro is down -0.56% on the daily yesterday which is just about 72pips. NFP reports are known to create over 1 or 2% change which means the Euro should be trading around 1.26 by now. But instead, it's trading 1.27. The same value before the NFP. All we can do is wait... Green pips to you next week.
Don't just beat the markets, leave bruises.
  • #581,147
  • Jan 7, 2012 8:05am Jan 7, 2012 8:05am
Quoting Motion
Hi mate, the fact that you identified yourself as a noob proves you're not a noob. About yesterday's news, it was pure indecision. Here's the thing with trading news: don't just follow the native "good or bad" for USD or EUR policy on the calender. Get a book on fundamentals. A lower unemployment rate in the US is good news for the US economy. It turns risk on. Investors add to their positions or take on new positions and stocks rally. Whatever they're buying, they indirectly sell the dollar. So dollar countered pairs rally and dollar based pairs...
Hi mate, thanks for replying. I see, so in the end the market will go up? I don't understand, low unemployment means, more production, more aggregate output, more consumerism (and savings), therefore more investment. all great for the economy. But in this case, since apparently it will go up,this can only mean inflation is rising in the US (and if its that, how is it correlated to NFP?). Because the euro is not getting any stronger...

So my question is why will the market go against the USD on good news?

Green pips for you too Motion!
  • #581,148
  • Jan 7, 2012 8:29am Jan 7, 2012 8:29am
is there any new news for the next week ?
the eur will go to 1.24xx ?
i know we eventually will be together
  • #581,149
  • Jan 7, 2012 8:34am Jan 7, 2012 8:34am
Quoting bittervenge
Hi mate, thanks for replying. I see, so in the end the market will go up? I don't understand, low unemployment means, more production, more aggregate output, more consumerism (and savings), therefore more investment. all great for the economy. But in this case, since apparently it will go up,this can only mean inflation is rising in the US (and if its that, how is it correlated to NFP?). Because the euro is not getting any stronger...

So my question is why will the market go against the USD on good news?

Green pips for you too Motion!...
Good to know you grasp the effect. Now to explain the logic: everything boils down to more investment right? Kk. So assuming you're an investor in the US, you wanna invest more, so you buy some stocks in various industries. Whatever you're buying is quoted against the country's currency even though you might not be seeing it literally. So investors part with their dollars to get stocks. It's that simple. Look at the previous NFPs where Unemployment increased in the past months, investors ran away from stocks collecting their beloved dollars back. It created a dollar demand and any dollar countered pair tanked. Panic is driving the Euro down at the moment. I'm really being skeptical with my trades. That's why I said waiting is the best.
Don't just beat the markets, leave bruises.
  • #581,150
  • Jan 7, 2012 8:47am Jan 7, 2012 8:47am
Quoting kibescorp
Today's reaction to the "positive" employment data is further proof that nobody is buying the bullshit hype of a "lower unemployment rate."

Yeah, a lower unemployment rate due to more and more people losing out on unemployment benefits and giving up the search for a job.
1. If peope were looking for jobs and on unemployment long enough to lose benefits, they really weren't looking that hard.

2. Less mooches sucking off the public tit means that the taxpayer money ain't going out as fast...this is a good thing.

3. Showing a decrease in this number also means that people are getting the boot from the public paycheck faster than are being added to the list.

The situation sucks, but it is the depth of darkness that needs to be measured. Bad and less bad are the two sides of this coin, a single set of NFP results doesn't seem to carry the same weight as has in previous years, it is now being weighed in on in a more proportional rate, IMO.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #581,151
  • Jan 7, 2012 8:49am Jan 7, 2012 8:49am
Quoting Cypher
merkel used same kind of words last years about war if euro ends, just fear mongering, election year as well for sarkozy

unrelated to that goldman see 1.20 in euro, sure there like 0-4 on there forecast from last year or could they be bluffing this time
i know we eventually will be together
  • #581,152
  • Jan 7, 2012 9:18am Jan 7, 2012 9:18am
Quoting smart boy
If goldman see 1.2 mean euro will be in trouble !!
  • #581,153
  • Jan 7, 2012 9:27am Jan 7, 2012 9:27am
Quoting Chicky
I follow a goal of 1% plus or 1% minus a day entering only one trade per day. However, sometimes I go for more than one trade if market is volatile. Like today, I entered two trades. One 10 pip winner and other for 80 pips running. Both longs.

1/2% is a good target but it depends how many trades you can get. With your style of 10 to 20 pip trades, you should be able to manage 3 to 4 trades a day. The only issue is 15% to 20% spread (1.5 to 2 pip) per trade irrespective of the outcome of the trade, that is, you win or lose. You need a solid edge...


Hi Chicky,

excellent posting :-)

Had the same experience than you. Screen time is vital. Or you get so god, that you have an exceptional loss-win-ratio.

Now I rade in 1/10 dimensions. That means, when I open a full position (lot size depends on your deposit and money management) I need around 15pips to get my daily target.

With a 1/10 position I need 150pips, with a 3/10 position I need 45 pips and so on.

Since I mainly trade price reaction on trend- and channel lines in conjunction with divergences, I have to care, that I have left enough firepower to spent, when the trade temporarily goes against me. I trade mainly the 15min chart with entries on 1 and 5 min. So a usual entry on a 15min chart should produce around 30-60pips.

That would be enough for a 3/10 position. So I usually open the first trade with a 2/10 or mainly 3/10 position.
  • #581,154
  • Jan 7, 2012 10:07am Jan 7, 2012 10:07am
very big inflation in Russia, in real life simple peoples.
  • #581,155
  • Jan 7, 2012 10:32am Jan 7, 2012 10:32am
Attached Image (click to enlarge)
Click to Enlarge Name: 324 monthly 01-07-12.gif Size: 38 KB
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #581,156
  • Jan 7, 2012 10:39am Jan 7, 2012 10:39am
All time record number of Euro shorts as of yesterday's close.
Yay! Pips for everyone!
  • #581,157
  • Jan 7, 2012 10:53am Jan 7, 2012 10:53am
Quoting Motion
Good to know you grasp the effect. Now to explain the logic: everything boils down to more investment right? Kk. So assuming you're an investor in the US, you wanna invest more, so you buy some stocks in various industries. Whatever you're buying is quoted against the country's currency even though you might not be seeing it literally. So investors part with their dollars to get stocks. It's that simple. Look at the previous NFPs where Unemployment increased in the past months, investors ran away from stocks collecting their beloved dollars back....
Hi motion,
a thing that helped me so much and i always like to suggest it is the multi currency relative strength indicator, it lets you recognize the market movers, as sayd a tanking eur/usd does not necessarily mean a weak euro or strong usd vise versa.
http://www.forexfactory.com/showthread.php?t=163158
  • #581,158
  • Jan 7, 2012 11:13am Jan 7, 2012 11:13am
Original Post: http://lcchong.wordpress.com/2012/01...is-8-jan-2011/


USD is now attempting a strong resistance zone which consists of 2 resistance levels (81.31 and 81.44) in the Weekly chart, and also 52-week high. I believe if USD can break this resistance zone and sustain above it, it has potential to advance to the upper channel of the asymmetric triangle in the monthly chart.


http://lcchong.files.wordpress.com/2...ng?w=837&h=380


http://lcchong.files.wordpress.com/2...ng?w=837&h=380
  • #581,159
  • Jan 7, 2012 12:38pm Jan 7, 2012 12:38pm
Quoting knoxxxalot
Hi motion,
a thing that helped me so much and i always like to suggest it is the multi currency relative strength indicator, it lets you recognize the market movers, as sayd a tanking eur/usd does not necessarily mean a weak euro or strong usd vise versa.
http://www.forexfactory.com/showthread.php?t=163158
Thanks man. I do appreciate the kind gesture. Just went through the thread. Nice one from hanover. I got something related to that too. I programmed it myself but it works with percentages. It provides me with true value of a pair. Pull up a USDX chart, you'll see why the fiber has been tanking. Let's look at it this way: given two currency pairs, fiber and cable, the fiber tanking does not mean the cable has to tank. The cable could instead rally. It simply means traders prefer buying the pounds and the dollars. I really don't like indicators on my charts except when I'm programming for clients. But I do have a handful of tactics I trade with. Once again, thanks mate.

BTW, I don't like handing out more than required information, but just a little insight: hanover computes the periodic average value of each major currency from the possible 28 combinations...what is the big flaw in that technique? I owe you a hundred US dollars if you honestly get it right.
Don't just beat the markets, leave bruises.
  • #581,160
  • Jan 7, 2012 12:48pm Jan 7, 2012 12:48pm
How much money will make u happy?
What will u do with it
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