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  • #638,341
  • May 2, 2012 11:06am May 2, 2012 11:06am
You can see cable pull back ? Manipulation ,no ,

Cable = DOWN
Lets see




Quoting Bones
The $ has pushed well but at target ,top of channel and res ,but way im seeing at mo is pullback to break out daily bearish at mo

Same with cable return to pivot break at mo
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #638,342
  • May 2, 2012 11:09am May 2, 2012 11:09am
Quoting samdani786
haha...love it,am like drawing but cant draw by mouse..only use pencil..wait till am buy a scanner ya sir...absolutely love it..along this journey..and in this forums..u keep provide us a warm and love chart
If there was easy money lying around,no one would be forcing it into your
  • #638,343
  • May 2, 2012 11:10am May 2, 2012 11:10am
Quoting Saintpeter
He's not right... you just need to compare the type of orders being posted before i took the account and, if you really understand about trading you will see that there is no pattern or something similiar about those... and i just trade EUR/USD... that's it!

Saint
Sorry SP i was being sarcastic my humour does not fade well over the internet as you know I do not use SL's either or TP's as i never know what the market is doing I just use good MM
  • #638,344
  • May 2, 2012 11:11am May 2, 2012 11:11am
Quoting Bones
You can see cable pull back ? Manipulation ,no ,

Cable = DOWN
Lets see
ya daily seem formed dark cloud
If there was easy money lying around,no one would be forcing it into your
  • #638,345
  • May 2, 2012 11:12am May 2, 2012 11:12am
Quoting jayjb
Jesse Livermore believe that you should buy the strongest and sell the weakest.

Lesser jobs may have been added, way below expectations BUT yesterday we saw a growth in the manufacturing numbers resulting in a major rally especially in DOW.

Compare this data against EURO.

Hmm, Europe's BIGGEST economy saw a growth in UNEMPLOYMENT. Italy's unemployment rate grew although it is negligible. EU is standing close to 11% in unemployment rate compared against US's 8.x%.

Then we saw EURO plunge about 80pips yesterday, why? Maybe because 2 of...
past action is actually indicative of Future actions with the FED, have you read Bernanke's essays on the great depression.

I agree with you that no one will go rushing to buy euros, especially with the debt market being as it is.

but My point is that We should not expect the CB's to sit idle as the market fucks over their economies...they haven't done it until now... highly unlikely they will do it from now on.

an investor would look for the right opportunity to position himself short the dollar.
AVT INVENIAM VIAM AVT FACIAM
  • #638,346
  • May 2, 2012 11:12am May 2, 2012 11:12am
Quoting Saintpeter
You should have more careful with the things you are writing, like "he lost"... better to have a good read on my posts and you will figure why!

Saint
Peter, I'm not criticising you as a person you sound OK but I just had a look at your results and you can't deny you are 400k down since December. That is a horrendous result. A 60% account drawdown says one thing - unsustainable. You can't bet on turning that around just because you had a few good months late last year.

You were only hunting 15pips on last trade? So you have gone big and now you are on the wrong side with no stop - it's madness. I wish you success but you won't get it trading like that.
  • #638,347
  • May 2, 2012 11:13am May 2, 2012 11:13am
Quoting stevexyg
Just my point of view. I'm not saying I'm 'right'. Just expressing what I believe.

A lot of newbies on here shouldn't get the idea trading without a stop loss is a good idea or could be seen as part of a sensible MM strategy.

60% account drawdown is where you end up not using stops unless you are extremely experienced and have an exit strategy that you follow without fail. But there's always the possibility that price may come back so you hold on. 3days later you get a margin call. What's the point?
And your point of view is totally valid. But the fact is that i'm not a newbie on this.

If you check the statement after the PERIOD I'VE STARTED WITH IT, there was a drawdown that took the account near 62% negative balance, 12% above my max limit that is 50% in order to start the recovering process... since the bounce back never hapened i started to farm and cut, and if you check my statement you will see that even with more than 150k negative on opened orders i was making profit everything day at the same time i was cutting losses... and i took 30 days to recover the full losses...

Your were right when you said that this is not suitable for all...

Cheers

Saint
  • #638,348
  • May 2, 2012 11:14am May 2, 2012 11:14am
Quoting stevexyg
Just my point of view. I'm not saying I'm 'right'. Just expressing what I believe.

A lot of newbies on here shouldn't get the idea trading without a stop loss is a good idea or could be seen as part of a sensible MM strategy.

60% account drawdown is where you end up not using stops unless you are extremely experienced and have an exit strategy that you follow without fail. But there's always the possibility that price may come back so you hold on. 3days later you get a margin call. What's the point?
Thats right its your point of view and nobody can take that away from you, all im saying is thats theres two sides to a coin and sometimes you need to look outside the box and not what we are fed through trading books
  • #638,349
  • May 2, 2012 11:14am May 2, 2012 11:14am
Quoting Saintpeter
which ones?

Saint
U have -280k loses
The market was bullish, turned bearish, and you'are brokish!!!
  • #638,350
  • May 2, 2012 11:14am May 2, 2012 11:14am
Quoting the redlion
past action is actually indicative of Future actions with the FED, have you read Bernanke's essays on the great depression.

I agree with you that no one will go rushing to buy euros, especially with the debt market being as it is.

but My point is that We should not expect the CB's to sit idle as the market fucks over their economies...they haven't done it until now... highly unlikely they will do it from now on.

an investor would look for the right opportunity to position himself short the dollar.
Which I do not think is the right action this point of time.
  • #638,351
  • May 2, 2012 11:15am May 2, 2012 11:15am
we go down at that moment, my chart say that, but i can be wrong...
The market was bullish, turned bearish, and you'are brokish!!!
  • #638,352
  • May 2, 2012 11:15am May 2, 2012 11:15am
But $ at top of channel I will admit sideways to up ,or the $ could turn very bearish ,but daily looks 3 candle right now


Quoting FXMindset
ya daily seem formed dark cloud
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #638,353
  • May 2, 2012 11:17am May 2, 2012 11:17am
Quoting stevexyg
Peter, I'm not criticising you as a person you sound OK but I just had a look at your results and you can't deny you are 400k down since December. That is a horrendous result. A 60% account drawdown says one thing - unsustainable. You can't bet on turning that around just because you had a few good months late last year.

You were only hunting 15pips on last trade? So you have gone big and now you are on the wrong side with no stop - it's madness. I wish you success but you won't get it trading like that.
Which part you didn't get when i said that i just start working on this account since 1st of March?

Saint
  • #638,354
  • May 2, 2012 11:18am May 2, 2012 11:18am
Quoting FXThug
U have -280k loses
but he has withdraw over 700k...or ?
The market can stay irrational longer than you can stay solvent!!!
  • #638,355
  • May 2, 2012 11:18am May 2, 2012 11:18am
some one please break this 60 it's annoying me too much

i have to sleep (2.15 am)
Mohan
  • #638,356
  • May 2, 2012 11:19am May 2, 2012 11:19am
Quoting FXThug
U have -280k loses
I'm recovering the account? YES

I lost those losses? NO

Hows that then? I JUST STARTED WITH THAT ACCOUNT AT 1ST OF MARCH

Maybe the "trader" that did those losses is here around... cos i dont know who he is but i know a lot about the shitty he did on this account!

Cheers

Saint
  • #638,357
  • May 2, 2012 11:20am May 2, 2012 11:20am
Quoting jayjb
Which I do not think is the right action this point of time.
maybe it was miss communication in my part, I stated this market inefficiency looks bullish for the Euro.

perhaps I should have expanded, on the time horizon .

short term there could possibly a bounce or not, it is a matter of awaiting loss of upward momentum on the current corrective wave but i am done trading for the day.

NY close
Tokyo session... are not really where the market moves in my opinion.
AVT INVENIAM VIAM AVT FACIAM
  • #638,358
  • May 2, 2012 11:21am May 2, 2012 11:21am
scenario to scalp
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The market was bullish, turned bearish, and you'are brokish!!!
  • #638,359
  • May 2, 2012 11:22am May 2, 2012 11:22am
Quoting stevexyg
Peter, I'm not criticising you as a person you sound OK but I just had a look at your results and you can't deny you are 400k down since December. That is a horrendous result. A 60% account drawdown says one thing - unsustainable. You can't bet on turning that around just because you had a few good months late last year.

You were only hunting 15pips on last trade? So you have gone big and now you are on the wrong side with no stop - it's madness. I wish you success but you won't get it trading like that.
Yes, it's my cowboy and madness style, but can i see your account? can i see your perfect MM with your SL's? Can i see your profits?
I am asking this cos since the 1st of March that i am working on this account that i haven't a single loosing day... with all my madness and without the blessed SL's... that's all!

Saint
  • #638,360
  • May 2, 2012 11:22am May 2, 2012 11:22am
Quoting jayjb
If you look at euro's manufacturing and compare it against US's

Yes, QE3 is something of relevant possibility but you should consider that the fact that USD is the world's biggest reserves fund, most of the world trade in USD than in EURO. Transactions at one point of time would be USD hence the biggest liquidity in it.

Taking that into view, I'm sorry but as much as I have a long position on EU, I don't see EU as the stronger economy, my long term forecast is bearish for this pair.

In my 1 year experience, I've learnt that BAD US news = Risk...
If all else remain equal - I will once again agree with you... US is better of at the moment than EU economically, however this does not mean that EUR will fall into perpetuaty... The market will correct the economic "divergence" between the 2... however have a look at 2010 and see what QE did to EURUSD after all wasn't US still better off then than EU? All I am saying is that Economic factors is not the only thing to take into consideration when dealing with currencies... They are crucial though, but so is money supply. and once again if you look at the US in isolation then if Feds say they will ease monetary policy further (and the only way I can see this happening at the moment is through altering the money supply) if their economy (in isolation) performs bad... Then any bad news is from US could potentially be seen as worse in the market as people will start pricing in the posibility of another exercise of money printing. If BB said that no further monetary easing would have been an option, your point would be more valid... However on the face of it you do have a valid point - just keep an eye out on US money supply too
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