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  • #643,721
  • May 16, 2012 4:04am May 16, 2012 4:04am
Quoting fxkiller

why looking for bull mate? We have more than 300 pips down since monday.. so catch the bears and dont wait for bulls
i was with all the time bull, now bear is close to it's destiny (it might make new one), not a good time to switch side , if break 2600 then i might switch to bear
Mohan
  • #643,722
  • May 16, 2012 4:05am May 16, 2012 4:05am
Quoting jajano
so how can i follow the bank?
working for the bank
  • #643,723
  • May 16, 2012 4:08am May 16, 2012 4:08am
Quoting Freshpips
I have alot to learn... still, rome wasnt built in a day...

Keep sharing your wisdom
we all learnig bro,
brit is 2nd behind australia for leaking news, most of reaction to news was pre release,
sadly many would have seen good news looked to long and bingo down she went, is sad but read your pa is as clear as glass.

biggest moves relative to pa is nfp, asia news, BOJ & SNB interventions, and blabbermouth politicians, bigger players, retailers are nothing more than a flea on an elephants butt, we is fighting over the crumbs,

Am expecting bulls to be circling, but sellers are not going to give up the ground they have taken.

Remember bottom take much longer to form than tops, so possible ping pong sideways for a bit, unless bulls retreat to a lower price to trap bears, if so, bear train will continue, biggest worry is panic, these levels should be well defended, if they go could cause panic selling then snowball, plop game over

I have converted to just scalping these levels until pa make up her mind for us
If you are new to Forex? Say Goodbye to your account!!
  • #643,724
  • May 16, 2012 4:10am May 16, 2012 4:10am
Quoting tomspin
My favourite is "don't use SL your broker will hunt it down"ridiculous!
If you hit your SL it mean two simple things.
1. You picked your entry in the wrong spot.
2. You placed you SL in the wrong spot.
Losses are part of it all but we are responsible for those nobody else.
Yes and the biggest mistake is, the traders are not ready to accept this loss and let the trade runs with hope to come back in profit and than later to hope atleast for BE.. And this is the thing, which blows accounts!

I do trade mostly without SL, because my MM allows it. MM counts! Only on big lots I enter wide SL. Mostly traders think, to enter a tight SL will protect their profit. Its wrong! Tight SL = Broker and Bank profit and not yours! Put widers SL with calculated trading size and accept the losses.

trading can be fun and profitable, but lots of things must be followed..!!

And dont let your trades run with hopes, you can be lucky once or twice when it comes on your BE but not always..
  • #643,725
  • May 16, 2012 4:11am May 16, 2012 4:11am
gold is doing a rebound...spin top on the last H4....usd index is starting to bleed.....its really dicey....but i believe taking a short now would hurt...dunno what FOMC is going to bring....am all for a bullish move of cos
It is possible to make large sums trading, small losses, large wins
  • #643,726
  • May 16, 2012 4:13am May 16, 2012 4:13am
Get Ready for "BOE GOV KING SPEAKS" in a few minute
  • #643,727
  • May 16, 2012 4:15am May 16, 2012 4:15am
Quoting MisterTrader
When all retail traders are short EUR/USD. That´s when this downtrend will end.

AND TO MAKE IT CLEAR TO ALL ROOKIES IN THIS BUSINESS: TIER1 investment banks are TRACKING your positions. [b][color=Red]Investment banks have statistics in front of them, how many of you retail traders are long and how many short (in percentage terms). Right now, I can see that around 65% of retail traders are long EUR/USD because they are trying to pick "the bottom". This is a welcome opportunity for banks to short EUR/USD and pick the...
OMG! If you truly believe this, that it is little old you vs the banks, then you might as well switch your computer off now. It is you vs yourself in trading, nothing else.
  • #643,728
  • May 16, 2012 4:17am May 16, 2012 4:17am
Quoting ndroe
Get Ready for "BOE GOV KING SPEAKS" in a few minute
I am ready Put my Seat belts already
  • #643,729
  • May 16, 2012 4:17am May 16, 2012 4:17am
Quoting cat
OMG! If you truly believe this, that it is little old you vs the banks, then you might as well switch your computer off now. It is you vs yourself in trading, nothing else.
He soon shot offline when the questions started coming in...
  • #643,730
  • May 16, 2012 4:19am May 16, 2012 4:19am
Quoting cat
It is you vs yourself in trading, nothing else.

Yes its all me an who ever wants to give me there money
  • #643,731
  • May 16, 2012 4:20am May 16, 2012 4:20am
Quoting KiwiTrada
we all learnig bro,
brit is 2nd behind australia for leaking news, most of reaction to news was pre release,
sadly many would have seen good news looked to long and bingo down she went, is sad but read your pa is as clear as glass.

biggest moves relative to pa is nfp, asia news, BOJ & SNB interventions, and blabbermouth politicians, bigger players, retailers are nothing more than a flea on an elephants butt, we is fighting over the crumbs,

Am expecting bulls to be circling, but sellers are not going to give up the ground they have taken....

Looking at pa, what you said makes perfect sense. I hadnt realised it was common knowledge how badly the releases were leaked, I now know. Dodgy bast*rds

Ok bro, for the time being I intend to watch and wait for next obvious move, this consolidation will be done and will catch first sign of bearish resumption... then ride that baby
  • #643,732
  • May 16, 2012 4:21am May 16, 2012 4:21am
Quoting megajester
Just curious how do you know this
I have similar widget in google chrome from etoro where you can check positions "http://chrome.simplytrader.biz/tools/" also nice chart with more or less real time data
edit: put screen shot
Attached Image (click to enlarge)
Click to Enlarge Name: etoro widget.jpg Size: 120 KB
  • #643,733
  • May 16, 2012 4:29am May 16, 2012 4:29am
Quoting F1m0
I have similar widget in google chrome from etoro where you can check positions "http://chrome.simplytrader.biz/tools/" also nice chart with more or less real time data
edit: put screen shot
Thanks for the link but I wanted MisterTrader to prove his statement came from a good source and not some bloke he met down the pub
  • #643,734
  • May 16, 2012 4:31am May 16, 2012 4:31am
Quoting megajester
Thanks for the link but I wanted MisterTrader to prove his statement came from a good source and not some bloke he met down the pub

.....but now hes offline we will never know
  • #643,735
  • May 16, 2012 4:33am May 16, 2012 4:33am
Gbp - inflation report *boe sees inflation slowing below 2% target in two years
  • #643,736
  • May 16, 2012 4:35am May 16, 2012 4:35am
"I can see that around 65% of retail traders are long EUR/USD because they are trying to pick "the bottom"."

In that he is right. It is a tendency with us all to try to catch the turning point in the price, and by doing so we are wrong much more often than we are right. By trying to get the best possible price, we lay ourselves at the mercy of the continuing trend. Most traders abandon their rules and guidelines when doing this, and that is where most of the money is lost. Resist this urge to get in at the top or bottom at all cost.
  • #643,737
  • May 16, 2012 4:39am May 16, 2012 4:39am
Quoting Freshpips
Looking at pa, what you said makes perfect sense. I hadnt realised it was common knowledge how badly the releases were leaked, I now know. Dodgy bast*rds

Ok bro, for the time being I intend to watch and wait for next obvious move, this consolidation will be done and will catch first sign of bearish resumption... then ride that baby
pity geppy just felled of cliff is cable sister
If you are new to Forex? Say Goodbye to your account!!
  • #643,738
  • May 16, 2012 4:39am May 16, 2012 4:39am
http://www.bankofengland.co.uk/publi...rt/infrep.aspx
  • #643,739
  • May 16, 2012 4:40am May 16, 2012 4:40am
Quoting cat
"I can see that around 65% of retail traders are long EUR/USD because they are trying to pick "the bottom"."

In that he is right. It is a tendency with us all to try to catch the turning point in the price, and by doing so we are wrong much more often than we are right. By trying to get the best possible price, we lay ourselves at the mercy of the continuing trend. Most traders abandon their rules and guidelines when doing this, and that is where most of the money is lost. Resist this urge to get in at the top or bottom at all cost.
Aim for middle 1/3 of any trend ideally... get in once new trend been confirmed - then out before it kills you - dont get greedy, which tends to be my problem, and i get burned!
  • #643,740
  • May 16, 2012 4:42am May 16, 2012 4:42am
Quoting KiwiTrada
pity geppy just felled of cliff is cable sister
Far too quick for me to catch... at this stage anyway
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