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  • #588,301
  • Jan 25, 2012 9:15pm Jan 25, 2012 9:15pm
Quoting skenobi
If the trend holds, 1.32 should hit. But how long it stays around that level, no-one can tell.

My advice: you should stop trying to predict such things as either "it will happen" or "it won't happen". Each eventuality has its own probability depending on the observer. It's not always clear cut 100pct or zero pct.

Just assign your own probabilities and place your stops based on that.
well stated.
  • #588,302
  • Jan 25, 2012 9:17pm Jan 25, 2012 9:17pm
Quoting thevadd
FED announced that the interest rate will be kept near zero level till 2014 , so for carry trades its favorable for catry trades dealing with currency such as AUkd (which has highest interest rate) and to some extent the other currencies as well.
FED announced that the interest rate will be kept near zero level till 2014 , so for carry trades, its favorable for dealing with currency such as AUD (which has highest interest rate) and to some extent the other currencies as well.
  • #588,303
  • Jan 25, 2012 9:18pm Jan 25, 2012 9:18pm
chart
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  • #588,304
  • Jan 25, 2012 9:19pm Jan 25, 2012 9:19pm
Quoting thevadd
FED announced that the interest rate will be kept near zero level till 2014 , so for carry trades, its favorable for dealing with currency such as AUD (which has highest interest rate) and to some extent the other currencies as well.
Yes, those that carry trade positive interest positions versus USD were smiling today.
  • #588,305
  • Jan 25, 2012 9:30pm Jan 25, 2012 9:30pm
Quoting Trade2Day
Yes, those that carry trade positive interest positions versus USD were smiling today.
huhu....sure
Bismillah
  • #588,306
  • Jan 25, 2012 9:37pm Jan 25, 2012 9:37pm
1.3050 level 1st we go.then let it decide,swing mode active.
patient is my attitude, rushing is a dog
  • #588,307
  • Jan 25, 2012 9:43pm Jan 25, 2012 9:43pm
Quoting joop
1.3050 level 1st we go.then let it decide,swing mode active.
After or before going 1.3150?
  • #588,308
  • Jan 25, 2012 9:48pm Jan 25, 2012 9:48pm
x.x" 1.3150 maybe after we go down level 1.3050 1st.
Quoting xandi
After or before going 1.3150?
patient is my attitude, rushing is a dog
  • #588,309
  • Jan 25, 2012 9:53pm Jan 25, 2012 9:53pm
Quoting joop
x.x" 1.3150 maybe after we go down level 1.3050 1st.
To me, first 1.3150 anda after 1.3050..hehehehe..explanation previous chart posts.
  • #588,310
  • Jan 25, 2012 9:58pm Jan 25, 2012 9:58pm
Quoting Buitragojl
5 years teaching myself with countless articles websites and i still cant get this shit ........ happy for the ones who actually make a living at this... imma end up back laboring at my construction job the rest of my life...
This one is pretty discouraging for new entrants who enter looking forward to make a living out of this trade. If nothing worth while shows up even after five years of trying to learn, the picture looks really gloomy.
Better get rich slowly rather than going broke fast.
  • #588,311
  • Jan 25, 2012 10:01pm Jan 25, 2012 10:01pm
possible happen too mate,
Quoting xandi
To me, first 1.3150 anda after 1.3050..hehehehe..explanation previous chart posts.
patient is my attitude, rushing is a dog
  • #588,312
  • Jan 25, 2012 10:02pm Jan 25, 2012 10:02pm
Quoting bzyqe
Why do you try shorts, when everybody see very strong north movement? Isn't easier to take a long?
But they say the trend takes the opposite direction of what everybody is expecting...
So?
Better get rich slowly rather than going broke fast.
  • #588,313
  • Jan 25, 2012 10:05pm Jan 25, 2012 10:05pm
what I get is 304x, or 302x. then long back, depending on the situation..
  • #588,314
  • Jan 25, 2012 10:10pm Jan 25, 2012 10:10pm
Quoting ChuckNorris
indicators fail..PA fail..fundamentals fail (might work for others) this market moves like it doesn't care beating my head to the wall to understand to predict but it all goes against me...my account is turning red....it isn't easy...its not a part time. i think i have to again get back to demo...and try once more..read more or just quit this hopeless shit.
If technical and fundamental and all else fails to help foreseeing a trend then the movements of this market must be really random. It appears so to me as a new entrant. And you say it's not part time...do you feel if done full time, a sustainable stream of income can be had from this market?
Better get rich slowly rather than going broke fast.
  • #588,315
  • Jan 25, 2012 10:16pm Jan 25, 2012 10:16pm
Quoting DRAGONByTE
I assume you then have some psychological "leaks". You should work on that. Feel free to contact me Losing your profits of two month within a week sounds weird.
What are the psychological leaks that a trader may have? And how can they be fixed?
Better get rich slowly rather than going broke fast.
  • #588,316
  • Jan 25, 2012 10:24pm Jan 25, 2012 10:24pm
Quoting screwup
what I get is 304x, or 302x. then long back, depending on the situation..
agree
  • #588,317
  • Jan 25, 2012 10:24pm Jan 25, 2012 10:24pm
Quoting piptopip
This one is pretty discouraging for new entrants who enter looking forward to make a living out of this trade. If nothing worth while shows up even after five years of trying to learn, the picture looks really gloomy.

forex is all about observing/identifying patterns, controlling your risk, disciplined. those things should always be remembered, or keep reading again & again. at one point you will be under control.

you will surely win this market.
  • #588,318
  • Jan 25, 2012 10:31pm Jan 25, 2012 10:31pm
Quoting mk77ch
and i thought eur would have some problems...
tht was a trap
Trade responsiblypatience is the key/Swing trader
  • #588,319
  • Jan 25, 2012 10:44pm Jan 25, 2012 10:44pm
Quoting gametheory
I tried everything over the years to be consistent until recently.
The following points may sound radical but if you implement those you may see a turn around.

1. Remove all indicators from chart
2. Do not rely on EW, Fibo, Gann, Trendlines, MAs whatever..they are not reliable. To show this ...AUDGBP and GBPAUD are same. but applying indicators will give different results.
3. Dont ever try to make sense of economy, rumours or news. This market moves bcos of many reasons...most we will never know. Economists have been wrong and are not traders.
4....
Thanks really for posting this. It answers my major question:so then after all what makes this market move and how to foresee that.

I have saved this post in a text file for future reference.
Thanks.
Better get rich slowly rather than going broke fast.
  • #588,320
  • Jan 25, 2012 10:49pm Jan 25, 2012 10:49pm
Quoting The Dude
i agree aswell, i also agree with not using indicators, i think its best to just trade off price action, keeps things simple, works best for me
when i first started i was using lots of indicators and getting nowhere, now i just trade off price action, mainly on the daily charts, nice and simple and things are going alot better
- The Dude
I also feel that keeping it simpler and less complex should deliver better result.
Better get rich slowly rather than going broke fast.
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