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  • #28,681
  • May 3, 2012 5:07am May 3, 2012 5:07am
Quoting BFSGcapital
really should have held that long... this has potential to run
Which long? What potential?

  • #28,682
  • May 3, 2012 5:13am May 3, 2012 5:13am
my main trading method is not holy grail, i am consistently profiting from it. i have 3 other pro traders as friends and they trade different ways and are successful.i pay my broker in english sterling and my transactions are in english sterling. So if i am on £5 a pip and it moves 10 pips it will show £50. If you want to pick me up on that i think its a bit unsmart.You are right with risk/reward but i know what i am doing ie 2 lots at same time for a modest hit or how about 1 big lot. i honestly think that the main reason a lot of traders fail is because a lot of them actually trade to the book, they expect the same old thing to happen at the same old places and of course as we all know it doesnt happen. and nearly every trading strategy that you see will all get triggered at the same place so keep it simple buddy, i trade for a living and on a bad boring day i will scalp like playing a slot machine. Dont think you know where the market will go ( you can have an inclination) but follow the chart simples, happy trading
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #28,683
  • May 3, 2012 5:14am May 3, 2012 5:14am
i think the long was going off those 2 tails on the 15 min chart
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #28,684
  • May 3, 2012 5:20am May 3, 2012 5:20am
they took it to the pip and i got in with 4 pip stop, and chickened out for 2 pips gain. ran 10 pips from my spot, pulled back and looks like it is bottoming here again..

sorry by potential to run i meant more than just a small scalp like i got.
An opportunity lost is not a capital cost.
  • #28,685
  • May 3, 2012 5:24am May 3, 2012 5:24am
Quoting rekon67
Which long? What potential?

Potential maybe 30-40 pips, just seems like its going to hold here unless ecb news moves it. however lots of negative sloping trend lines to break lol
Attached Image (click to enlarge)
Click to Enlarge Name: eurochart1.jpg Size: 150 KB
An opportunity lost is not a capital cost.
  • #28,686
  • May 3, 2012 5:52am May 3, 2012 5:52am
Hello Everyone, I have been trading forex now coming up on 4 yrs. I have had my ups and downs learning to trade.. I have been following this thread for the past few months as i find that there is some real good accumulative knowledge in this room that i take some with a grain of salt and some with good intention and use it to my advantage..
Now a bit about me, I am from western Canada, Alberta and now live in the Philippines, i have have traded 4 yrs now and deposited a lot of money into my account.. Well i think its a lot 35 K USD.. I am presently down on that account 97.7%. Now to someone reading this they may say ouch...To me its been one heck of a learning curve and i think it takes money and guts to learn this business. I plan on bringing that balance to a profit in time, that is my number one goal.. Whether it takes me 2 yrs or 5 i am determined to do that with the greatest determination and perseverance that it will take. I currently spend anywhere from 16-20 hrs a day monitoring the charts,equities, bonds and money flow that move the markets. I am very good at getting on the right side of a trade but not always and sometimes my exits are not the best.

Anyways what i am getting at here is i see a few guys trying to show there strategies here and teach fellow traders. One thing i will say is if you have a method and that is working for you thats great!! If you have the results from the past to back it up then show the current results to back up your trading knowledge that you want to teach the rest of us, so we can be confident in your trading style and you have established some credibility. Anyone can talk the talk, post a chart say what they want... But walk the walk and show the results over time!! I have found far and few who can do that. I am not talking about managed commercial accounts or accounts from the past i am talking about personally managed accounts that show minimum 2 yrs or more of a trade history with details to prove it.

Thanks for reading, i am on a continuous learning process in the forex world and look forward to continuing to learn and maybe share a few of my ideas here. As of now i don;t have a great consistent history of great success.. But one day i will have and then it will be the time i will share my experiences that will benefit others the most.. Take care all. Happy trading to all!
  • #28,687
  • May 3, 2012 6:08am May 3, 2012 6:08am
For whoever wants to watch Draghi at his press conference at 1230GMT today, here is a live stream link for you.

http://www.ecb.int/press/tvservices/...120503.en.html
Those who say it cannot be done should not interrupt those who are doing it
  • #28,688
  • May 3, 2012 6:36am May 3, 2012 6:36am
Good morning here guys 6.30 am I was reading your posts. In my count great news, with that move to 1.3120 we complete 5 waves so this move from 1.3282 is an impulse, and we are going down, but in somewhere we need a retracement first.
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #28,689
  • May 3, 2012 6:47am May 3, 2012 6:47am
ECB rates remain unchanged.

No big surprise there

Now for the press conference in 45 minutes

http://www.ecb.int/press/tvservices/...120503.en.html
Those who say it cannot be done should not interrupt those who are doing it
  • #28,690
  • May 3, 2012 6:48am May 3, 2012 6:48am
Quoting Luis Carlos
Good morning here guys 6.30 am I was reading your posts. In my count great news, with that move to 1.3120 we complete 5 waves so this move from 1.3282 is an impulse, and we are going down, but in somewhere we need a retracement first.
Agreed we need a retrace but the pair is looking very heavy right now.

Perhaps we will get a retrace when Draghi says "Good Morning" in the form of a quick spike to be faded.
Those who say it cannot be done should not interrupt those who are doing it
  • #28,691
  • May 3, 2012 6:54am May 3, 2012 6:54am
Indeed, it still looks heavy...

Attached Image (click to enlarge)
Click to Enlarge Name: genuinelyFX_2012.05.03_eurusd_daily.jpg Size: 188 KB
charting the euro...
  • #28,692
  • May 3, 2012 6:54am May 3, 2012 6:54am
Quoting PipTrapper
Agreed we need a retrace but the pair is looking very heavy right now.

Perhaps we will get a retrace when Draghi says "Good Morning" in the form of a quick spike to be faded.


I guess that cluster of vorious levels at 174, 76, 83 looks to obvious and EUr will be sold before those... hm?

EDIT: Ough - and that GMT H4 canlde shoul'nt be engulfed either (3160)... Can't decide - where to enter with sell orders here..
69
  • #28,693
  • May 3, 2012 6:54am May 3, 2012 6:54am
Quoting simplyfxpips
Hello Everyone, I have been trading forex now coming up on 4 yrs. I have had my ups and downs learning to trade.. I have been following this thread for the past few months as i find that there is some real good accumulative knowledge in this room that i take some with a grain of salt and some with good intention and use it to my advantage..
Now a bit about me, I am from western Canada, Alberta and now live in the Philippines, i have have traded 4 yrs now and deposited a lot of money into my account.. Well i think its a lot 35 K USD.. I am presently...
Ok firstly I can't understand why you spend 20 hours a day in front of your monitor that just doesn't make sense I spend no longer than 4 hours a day and I'm still making my requirements.. Set your sights low at first at maybe a very small percentage gain on a day to day basis, if you have a 100 euro account then maybe look to make 2 euro a day and then walk away! If you get into the habit of making a certain amount and then relaxing for the day and not worrying about giving it back to the market then you will become profitable. In my opinion the most important part of trading is knowing when to walk away and not be greedy or chase your losses.. After that it's about your methods.. I hope this helps
  • #28,694
  • May 3, 2012 7:04am May 3, 2012 7:04am



Quoting RodMca
Ok firstly I can't understand why you spend 20 hours a day in front of your monitor that just doesn't make sense I spend no longer than 4 hours a day and I'm still making my requirements.. Set your sights low at first at maybe a very small percentage gain on a day to day basis, if you have a 100 euro account then maybe look to make 2 euro a day and then walk away! If you get into the habit of making a certain amount and then relaxing for the day and not worrying about giving it back to the market then you will become profitable. In my opinion the...
  • #28,695
  • May 3, 2012 7:09am May 3, 2012 7:09am
Quoting simplyfxpips
Hello Everyone, I have been trading forex now coming up on 4 yrs. I have had my ups and downs learning to trade.. I have been following this thread for the past few months as i find that there is some real good accumulative knowledge in this room that i take some with a grain of salt and some with good intention and use it to my advantage..
Now a bit about me, I am from western Canada, Alberta and now live in the Philippines, i have have traded 4 yrs now and deposited a lot of money into my account.. Well i think its a lot 35 K USD.. I am presently...
Hi Simply,

Welcome to EurAnalysis. I know you've been following for a while, but so far, unless somebody took notice of you at the bottom of the screen, you're a newcomer.

I agree with your implied assertion that talk is cheap, and without a solid documented track record, those who profess to have a foolproof system should be taken with a grain of salt. I would be more than happy to show my personal track record but it is of no use to anybody unless they come to my house and see it for themselves. Anyone can create a report and post it. It doesn't mean it's real. Then there is the privacy issue as well. I do not recommend anyone post their main live trading accounts in any online system. There are many reasons which should be quite obvious to anyone who knows how an advertising based business model works.

Anyway, after four years of trading and losing 97% of your account, I am sure you have learned a few very important things. Consider that loss as tuition fees in the most humbling education system in the financial industry. In my first few years I lost money also. In my case, however, I found a good mentor who saved my ass from blowing away most of my capital. Unfortunately he passed away a few years ago but the lessons I learned from him will live on forever.

What most posters do here is share what they think and do. There may be one or two posters who profess their trading system but mostly we all share and learn together in a "post mortem" kind of way. When we post a trade call, we state the reasons why. When it goes well, it is something to note. When it goes badly, one can analyse why... all in a public forum where anyone is invited to share their thoughts. That is the objective of this thread as already stated in the first post on page 1

Anyway, I look forward to your future participation here and I thank you for sharing your story.

Cheers
PT
Those who say it cannot be done should not interrupt those who are doing it
  • #28,696
  • May 3, 2012 7:11am May 3, 2012 7:11am
Quoting PipTrapper
Agreed we need a retrace but the pair is looking very heavy right now.

Perhaps we will get a retrace when Draghi says "Good Morning" in the form of a quick spike to be faded.
I hope, we need a better price...By the way RSI bullish divergence 1h chart. Targets that we could touch, the same 1.3106 and 1.306
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #28,697
  • May 3, 2012 7:20am May 3, 2012 7:20am
Quoting Likerty


I guess that cluster of vorious levels at 174, 76, 83 looks to obvious and EUr will be sold before those... hm?

EDIT: Ough - and that GMT H4 canlde shoul'nt be engulfed either (3160)... Can't decide - where to enter with sell orders here..
I placed what I thought was a sell limit order at 1.3165 yesterday and walked away from my terminal. When I returned, I noticed price had peaked at 1.3167 and I was very happy for that. Then, to my surprise and disgust, I noticed that there was no active sell at 1.3165 Apparently I mistype'd the entry price as 1.365 (the 1 didn't take) and I guess I didn't bother confirming before I walked away. That really cheesed me off. I still managed to get in manually at 1.3156 though and I am happy for that coz this morning it only managed a high of 1.3162

1.3120 is proving to be solid support. I expect a bounce up from here but we'll have to wait for Draghi. I also have limit orders set up at 1.3185 and 1.3203 I don't expect those to get triggered but if they do, I'll be happy
Those who say it cannot be done should not interrupt those who are doing it
  • #28,698
  • May 3, 2012 7:23am May 3, 2012 7:23am
Quoting RodMca
Ok firstly I can't understand why you spend 20 hours a day in front of your monitor that just doesn't make sense I spend no longer than 4 hours a day
Ok i guess i should of been a bit clearer, i don't sit directly in front of my computer for 20 hrs a day.. I do do other things as myself and my family live in a tropical paradise.. Its more like my monitor is on but i am not always in front of it..

I agree with what you say by taking smaller bites and coming back the next day.. I am currently taking small bites every day... Just like eating an elephant bite by bite..

My biggest challenge i face is seeing on the charts a trend that i believe is about to unfold and then trading the opposite way, and then being stuck in a trade either waiting for a pull back, or opening a trade in the direction i should of and averaging my loss the other way..

Another thing i try not to do is close a losing trade, and i find knowing when and if you should do that is the hardest part.. I am not a big fan of SL's more of trailing stops if i am not going to be monitoring a trade..

Anyways i appreciate any advice and i am always learning..

One thing i want to emphasize is i believe in results and if you have some then please share your great results with us here... Vouches and #'s of posts are a credit to your record but past to current trade results tell the real story..

Shhhhh you were sharing your results... What happened?



Thanks
  • #28,699
  • May 3, 2012 7:29am May 3, 2012 7:29am
Quoting simplyfxpips
One thing i want to emphasize is i believe in results and if you have some then please share your great results with us here... Vouches and #'s of posts are a credit to your record but past to current trade results tell the real story..

Shhhhh you were sharing your results... What happened?

Thanks
I strongly discourage the public sharing of live results on this thread or any other public forum. If any of you want to share your results with anyone, please do so via private email. (Read Page 1)
Those who say it cannot be done should not interrupt those who are doing it
  • #28,700
  • May 3, 2012 7:38am May 3, 2012 7:38am
USDX Daily

The Morning Doji Star Growing beautifuly and now we break the larger bearish bar,well done Mr.Dollar..enough is enough,Lol
Attached Image (click to enlarge)
Click to Enlarge Name: USDX.png Size: 31 KB
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