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  • #581,181
  • Jan 8, 2012 1:24am Jan 8, 2012 1:24am
Quoting Motion
.

Thanks mate. So nice of you. But I guess the indy works with MT4.... My platform is Dealbook but I really appreciate your kindness.

BTW, how do you trade the indicator? Do u have any other tactic for trading it other than the native way of using indicators?

Yes, works on mt4. I do not use it for set up or signals, but it helps to view where the market is going, meaning risk versus not risk.
Beauty awakens the soul to act. Dante Alighieri
  • #581,182
  • Jan 8, 2012 1:26am Jan 8, 2012 1:26am
I don't know if this is considered off topic, but I have noticed that maybe eurusd is not the best for a long term short. I was looking at the the eurjpy, and it seems to be a much cleaner chart. That is support turns into resistance and not too much sideways movement. I believe this to be simply because of the base currency. The so called experts have been hailing the USD but I think it's just a bunch of American bias. The dollar is up but that's only because the rest of the world is down. When you compare the usdjpy you see that the greenback isn't all it's cracked up to be. The total loss is about the same in pips but when you figure that 1 jpy pip is worth 1.3 usd pips it's significant and also like i said it's been a cleaner down hill ride. Another interesting one is euraud. This one seems to be not as nice as eurjpy, but it has one huge positive. It has a nice positive swap rate on the shorts. So I am making money on my short and I get paid just for holding it.
  • #581,183
  • Edited 1:58am Jan 8, 2012 1:46am | Edited 1:58am
So my favourite pair now to see .

In M30 price breaks 2725 limit apparently fix the bottom for now & next limit goes to 2761 & 2813 for bear in continue down further , in mofu or what /any .

In m15 tf breaks 2725 ok for up but still not enough for the bottom formation , next limit up there 2761 & last limit up for bear 2778. that is without can bear continue again, as seen in more higher tf for immediate range down intact.

H4 tf , after all those limits above for bear continuation if breahed yet further limits goes 2857,2941,3041 & even 3080 to hold the bear intact withou breach .
daily tf , 3 crows/bear candles in a line , need confirmation 4th or next daily .price over 78% fib correction 2556 may test or more OK .

So further down remain intact expecting it test as many as limit levels upside before or after the fall.
so ranging at bottom areas. will maintain sell at any top still but scalping both ways may do this week at the same time but well before any limit areas .
Overall weekly pressure down continue likely.

fontu
Attached Image(s) (click to enlarge)
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #581,184
  • Jan 8, 2012 1:56am Jan 8, 2012 1:56am
Quoting fontu
So my favourite pair now to see .

In M30 price breaks 2725 limit apparently fix the bottom for now & next limit goes to 2761 & 2813 for bear in continue down further , in mofu or what /any .

In m15 tf breaks 2725 ok for up but still not enough for the bottom formation , next limit up there 2761 & last limit up for bear 2778. that is without can bear contonue again, as seen in more higher tf for immediate range down intact.

H4 tf , after all those limits for bear continuation if breahed yet further limits goes 2857,2941,3041 & even 3080...

nice eu 1hr...
MY OPINION NOT FINANCIAL ADVISE
  • #581,185
  • Jan 8, 2012 2:10am Jan 8, 2012 2:10am
Quoting donfriday
nice eu 1hr...
Thanks , may be not clear h1 tf alone , giving one fresh here to see h1 tf .
fontu
Attached Image (click to enlarge)
Click to Enlarge Name: usd.gif Size: 10 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #581,186
  • Jan 8, 2012 2:42am Jan 8, 2012 2:42am
Quoting bfis108137
I don't know if this is considered off topic, but I have noticed that maybe eurusd is not the best for a long term short. I was looking at the the eurjpy, and it seems to be a much cleaner chart. That is support turns into resistance and not too much sideways movement. I believe this to be simply because of the base currency. The so called experts have been hailing the USD but I think it's just a bunch of American bias. The dollar is up but that's only because the rest of the world is down. When you compare the usdjpy you see that the greenback...
I mostly do short term short but I wish I stayed long term when I positioned at .5200. There is no reason for this pair not to test the 1.18 area and even go for parity. If it does go into the teens, there will be nothing but talk about going parity like it did last time. But now it might go down some more to maybe 2650 or so then I would expect a retrace.
Taigen Profit This Month: na
  • #581,187
  • Jan 8, 2012 5:05am Jan 8, 2012 5:05am
where we going open tomorrow ? above 50 or 80

hope not below 2700
Mohan
  • #581,188
  • Jan 8, 2012 5:17am Jan 8, 2012 5:17am
Quoting Chanya
I see How you Trade !!! But majority of people cant do that ! Because by your trading plan , I see that you have a big account ... So can afford to just have 1 trade per day of 2 or three with few pips only and still have alot of money in the winning Bag ...

But people with small accounts , Like ranging from 1 K to 5 K , must win more pips , or trade more with less pips or use Alot of leverage .... Last is not sensible but first two are !!!
You forget compound
If there was easy money lying around,no one would be forcing it into your
  • #581,189
  • Jan 8, 2012 5:24am Jan 8, 2012 5:24am
http://i.imgur.com/BZlUI.jpg
  • #581,190
  • Jan 8, 2012 5:27am Jan 8, 2012 5:27am
will euro drop more in next week ?
  • #581,191
  • Jan 8, 2012 6:21am Jan 8, 2012 6:21am
Quoting Taigen
I mostly do short term short but I wish I stayed long term when I positioned at .5200. There is no reason for this pair not to test the 1.18 area and even go for parity. If it does go into the teens, there will be nothing but talk about going parity like it did last time. But now it might go down some more to maybe 2650 or so then I would expect a retrace.
I have been short eurusd since 13/12 and I am short eurcad since 23/12. I am short eurjpy about a week now and my eurjpy has exceeded all of other eur shorts. I believe the cad to be doing well because of a tough monetary policy in Canada but a weak economy so while it has steady gains it tends to give big chunks back on news announcements. Still it is better than usd. Usd seems to be the opposite. That is weaker monetary policy but with a stronger economy. jpy on the other hand is in a stagnant economy with a stagnant monetary policy. Probably not too great if you are Japanese but it provides a currency that imho gives a very nice benchmark. With that being said, I am short the euro against, jpy, usd, aud, and cad and I don't have any plans in changing that. Matter of fact, at market open I will be moving up sl's and Monday morning I will be looking at increasing my positions. Probably look for a retracement before I do that but that is not a certainty. I do think though that I will be looking at increasing my eurjpy and not my eurusd.

As a little side note, I have also decided to basically just daytrade on demo since I have made about 20% profit in 2 months on my long term trades and have lost more than that on my day trades. At that rate while my account won't look too great in the short term, over the long term that will look very nice. Within 10 years I would be looking at retirement. Not to mention that trading on the daily lets me live my life.
  • #581,192
  • Jan 8, 2012 7:15am Jan 8, 2012 7:15am
Quoting Chicky
I am serious too. Four of my five wives are imaginary only to provide some entertainment to people on these threads. You can take as many you want but don't even think about my real wife, she's very precious.............................. She is from Pakistan, born in Iran, raised in Iraq, close ties with Palestine and living in the US. Keeping her happy is vital to world peace.
The best comedy movie of 11: Crazy stupid love
  • #581,193
  • Jan 8, 2012 7:26am Jan 8, 2012 7:26am
Quoting Motion
. Nice try man. 'Ll PM you the right answer.
Patiently waiting, no pm yet.
  • #581,194
  • Jan 8, 2012 8:36am Jan 8, 2012 8:36am
Quoting bfis108137
I have been short eurusd since .....I believe the cad to be doing well because of a tough monetary policy in Canada but a weak economy..... With that being said, I am short the euro against, jpy, usd, aud, and cad and I don't have any plans in changing that. Matter of fact, at market open I will be moving up sl's and Monday morning I will be looking at increasing my positions. Probably look for a retracement before I do that but that is not a certainty. I do think though that I will be looking at increasing my eurjpy and not my eurusd.

As...

Here's the thing with all currency pairs and their price valuation: they go up and then they go down and then they go up again and then...

Retracement is always a certainty with any pair. Just an opinion but you should concentrate on developing strong strategy skills and setting specific target goals. I assume you are not a dumb person but have reasonable analytic skills that are perhaps stronger than your average guy walking down the street. When you do stare at the screen start to look for patterns either in a down trend or up trend.

Here's the thing II: A demo account is useful for learning the game and developing a few strategies BUT it will NEVER prepare you for the psychology of a trade. So after you learn the basics, you need to open a live account with say $500 or 1k understanding that you are still in the learning curve. Treat it as an investment, but realistically use it as tuition because in all likelihood you will lose most of it but...

Here's the thing III. You will have learned so much that you will say to yourself that was tuition well spent.

Some people are quick learners and losing once (I mean not know what you did wrong) will not make the same mistake. Me, it took me three times before I caught on.

Give yourself targets or goals. For example with a 1k account. A target would be to make $10 a day. If you are not at that level yet make it $5. Eventually change your goal to 1% a day then down the road make it 2% a day. That's my goal and for the last 4 months I have maintained that.

Although I have other accounts, I opened a 1k account and started the goal in October '11. As of today, based on trading 20 days a month, 5 days a week, I now have $3755. I know it's a small account but the increase is rather dramatic just sticking with the rules I set for myself.

Anyway wish you well.
Taigen Profit This Month: na
  • #581,195
  • Edited 9:22am Jan 8, 2012 8:47am | Edited 9:22am
No offence

Attached Image (click to enlarge)
Click to Enlarge Name: 326 monthly 01-09-12.gif Size: 41 KB
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #581,196
  • Jan 8, 2012 8:55am Jan 8, 2012 8:55am
Quoting samdani786
You and I be seein' da same t'ing.
Taigen Profit This Month: na
  • #581,197
  • Jan 8, 2012 9:05am Jan 8, 2012 9:05am
Quoting mohan76
where we going open tomorrow ? above 50 or 80

hope not below 2700
me too hope not below it.
  • #581,198
  • Jan 8, 2012 9:34am Jan 8, 2012 9:34am
Quoting samdani786
No offence

can you tell me what is the logic behind this sketch?
  • #581,199
  • Jan 8, 2012 9:36am Jan 8, 2012 9:36am
Quoting samdani786
No offence

what is the logic behind the sketch???
Attached Image
  • #581,200
  • Jan 8, 2012 9:53am Jan 8, 2012 9:53am
Quoting Taigen
Here's the thing with all currency pairs and their price valuation: they go up and then they go down and then they go up again and then...

Retracement is always a certainty with any pair. Just an opinion but you should concentrate on developing strong strategy skills and setting specific target goals. I assume you are not a dumb person but have reasonable analytic skills that are perhaps stronger than your average guy walking down the street. When you do stare at the screen start to look for patterns either in a down trend or up trend.

Here's...
Great Plan...I really liked the way you put yourself for new traders. I am also one of them and I have tried quite a few patterns but nothing is working positive on my side. Also, if I have a 1K account what is the lot size that I should usually go for?
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