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  • #634,341
  • Apr 26, 2012 12:18pm Apr 26, 2012 12:18pm
Quoting attila
Here's an older one. Don't mind all the lines. Not using all of them anymore.

Attachment
I would never ever leave that room just for pu
  • #634,342
  • Apr 26, 2012 12:18pm Apr 26, 2012 12:18pm
Quoting cloggie
OK kids, hope y'all are paying attention to attila here, he is sharing some good stuff.


This thread has been quite good this week.
Sure is! Made me active again. Was only reading the really useless thread the last few weeks, first week I am reading the Eur/usd thread again
  • #634,343
  • Apr 26, 2012 12:18pm Apr 26, 2012 12:18pm
Quoting attila
I never trade when I am upset with something, even the slightest thing.
If I were to try to do that I'd need to kick the girlfriend out.
  • #634,344
  • Apr 26, 2012 12:18pm Apr 26, 2012 12:18pm
Quoting mohan76
, now days i never get angry (it's cost me too much )

Trading will do that to you, you'd be surprised how much it will change your life in so many ways you never thought it would.
  • #634,345
  • Apr 26, 2012 12:19pm Apr 26, 2012 12:19pm
Quoting Pair-me-up

What is the best way to manually calculate highly accurate Support and Resistance Levels?
The best way is to just look at the charts. Statistically, A currency pair is assumed to be a "random walk" that is, you can't truly predict its future, and the best indicator of future price, is the immediate past price, same with support/resistance levels. The most immediate previous Support or resistance level at the price is your best indicator of where the next one will be.

So, for example.....right now, we have been going up in Euro, the last time we were at these levels was April 1-4th, so you return to that area on the charts to look for your next Resistance levels

If you look, we had a major "support break at 1.3280, then another break for the fall at 1.3250 to 1.3225 before we fell under, so now on the range up...we'll hit those levels again and have some stick.

It's harder to predict though, because Eur/USd is by far the most liquid pair, so you have many different players putting their limit orders in at new and different points, so in my opinion, it's incredibly hard to pinpoint the S/R to the pip, it's much easier on other pairs. Instead, you need to "average" into a support/resistance zone, otherwise you will get stopped out a lot if you're worried about that. I can't count the number I've seen people get stopped out by 1 pip to see the market swing their way by 100 pips within a few hours.
  • #634,346
  • Apr 26, 2012 12:20pm Apr 26, 2012 12:20pm
Quoting atif089
Haha the flag on the left is awesome!

Try hanging 4 clocks right there on top London, New York, Tokyo, Sydney
well not sydney but frankfurt
Attached Image (click to enlarge)
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  • #634,347
  • Apr 26, 2012 12:21pm Apr 26, 2012 12:21pm
Quoting cloggie
Trading will do that to you, you'd be surprised how much it will change your life in so many ways you never thought it would.
Indeed. One thing I learned is to observe my thoughts.. It spills into real life too and it's beneficial I think..
  • #634,348
  • Apr 26, 2012 12:21pm Apr 26, 2012 12:21pm
If we are going to get a close again above 3231 on the hourly, there is no guarantee we are going to see 3260 again as I stated last night, the landscape has changed slightly.

Don't want to held responsible....
  • #634,349
  • Apr 26, 2012 12:23pm Apr 26, 2012 12:23pm
Quoting attila
Indeed. One thing I learned is to observe my thoughts.. It spills into real life too and it's beneficial I think..

I agree, it has changed me. Being a solo trader more so and in different ways then when I was on the desk or on the floor.

I still have a bit of a "floor" attitude in me, but I kept that just for this thread. I wouldn't treat some of the people in my life like I treat some here, but then again, I don't surround myself with many scammers/frauds and 18 year old kids in real life.
  • #634,350
  • Apr 26, 2012 12:23pm Apr 26, 2012 12:23pm
Quoting cloggie
Trading will do that to you, you'd be surprised how much it will change your life in so many ways you never thought it would.
just lol to you Cloggs not getting angry. I guess that's what you come here for.

I haven't finished Douglas' Trading in the Zone yet but the title says it all. You have to be in the right space on many different levels to trade well. I'd highly recomend the book but it's full of a lot of waffle so only if you can skim read to find the juicy bits.
  • #634,351
  • Apr 26, 2012 12:24pm Apr 26, 2012 12:24pm
Quoting cloggie
I agree, it has changed me. Being a solo trader more so and in different ways then when I was on the desk or on the floor.

I still have a bit of a "floor" attitude in me, but I kept that just for this thread.
Yeah, I go nuts in the other thread.. I try to stay composed here..
  • #634,352
  • Apr 26, 2012 12:25pm Apr 26, 2012 12:25pm
Quoting stevexyg
just lol to you Cloggs not getting angry. I guess that's what you come here for.

I haven't finished Douglas' Trading in the Zone yet but the title says it all. You have to be in the right space on many different levels to trade well. I'd highly recomend the book but it's full of a lot of waffle so only if you can skim read to find the juicy bits.

I did read it when it first came out, will pick it up again. I have a whole library of books regarding anything from HF allocation, to company reports, to psych books, to general trading books.
  • #634,353
  • Apr 26, 2012 12:26pm Apr 26, 2012 12:26pm
Quoting attila
Yeah, I go nuts in the other thread.. I try to stay composed here..

I can go nuts in here, but I do that to provoke a reaction, don't always get one though, they bugger of pretty quickly.
  • #634,354
  • Apr 26, 2012 12:26pm Apr 26, 2012 12:26pm
Quoting JeremyWS
well not sydney but frankfurt
soft clock will do the job (including auto daylight change)
Mohan
  • #634,355
  • Apr 26, 2012 12:27pm Apr 26, 2012 12:27pm
Quoting JeremyWS
well not sydney but frankfurt
top man !
Poker is for kids, I play FOREX.
  • #634,356
  • Apr 26, 2012 12:27pm Apr 26, 2012 12:27pm
1hr momentum is shifting to south. just a heads up.
  • #634,357
  • Apr 26, 2012 12:28pm Apr 26, 2012 12:28pm
Quoting JeremyWS
well not sydney but frankfurt

You got the ones that matter, the rest is irrelevant from a trading point of view.
  • #634,358
  • Apr 26, 2012 12:29pm Apr 26, 2012 12:29pm
Quoting pkimnyc
1hr momentum is shifting. just a heads up.
that bottom held but I would not long here. I still think there's some ways down..

ah you said south..
  • #634,359
  • Apr 26, 2012 12:30pm Apr 26, 2012 12:30pm
Quoting attila
that bottom held but I would not long here. I still think there's some ways down..

ah you said south..
momentum is shifting to south is what i meant. price is lying right now.
  • #634,360
  • Apr 26, 2012 12:30pm Apr 26, 2012 12:30pm
Quoting pkimnyc
momentum is shifting to south is what i meant.
rite
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