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  • #647,381
  • May 24, 2012 3:13pm May 24, 2012 3:13pm
Quoting almo
I think every newbie needs to print this one. Well said!
:-)

paying that tuition can teach you a lot but it can certainly take a bite out of your beer budget. LoL!
  • #647,382
  • May 24, 2012 3:15pm May 24, 2012 3:15pm
Quoting Kowalczyk
The problem with your argument is that I am using an intra day trend. I am not making a statement about the long term trend, but a short term one.
Its how your using the short term trend that has us concerned Kowalczyk.

You might get lucky and get a few trades for 20 pips or so, but your disregarding the potential of adding to a short position (in our EUR example).

I suppose if you recognize that its an counter trend trade, and use a small lot , that's fine...hell, I did that yesterday successfully. Just the same, I knew the whole time that my intent was just to re -position myself to short it at a higher price.

Its just your comments suggest your going off all willy nilly, with disregard of the big picture. I may be completely wrong on that - perception is a double edge sword, as I can't peer into your brain to see what your thinking. I can only see what you saying/doing....and that is the concern.
  • #647,383
  • May 24, 2012 3:24pm May 24, 2012 3:24pm
Hi everybody i am new to the forum...
I went long on 1.2525 just following a butterfly but i think profit limited max -1.2620 may be. to much paniced bears around but who knows this days...
  • #647,384
  • May 24, 2012 3:29pm May 24, 2012 3:29pm
Big difference in the amount of support you get from from 164 points on an intra-day move and ...

the daily trend line gets broken at 1.27 and moves on up to 1.28 which is 1%

From 1.25364 to 1.28 gives you a lot of support from days of trading back and forth for entering a trade on the long side.

If entered properly, hard to fail. That is a powerful difference.
  • #647,385
  • May 24, 2012 3:39pm May 24, 2012 3:39pm
Quoting todstars2
Traders are made when they learn to call a turn when everyone else is screaming go the other direction.

Fortune favors the bold...
The problem is that no one seems to look at the bigger picture

Calling a turn would only be valid if something dramatically certain happened in Greece, like the population voting for a party that supports austerity... Until that day happens there is nothing to power a turn, so sorry..
  • #647,386
  • May 24, 2012 3:41pm May 24, 2012 3:41pm
Drunk and high with a bitch on my bed sleeping. Probably would think I'm a fag for checking my FX positions at frigging 4.40am if she saw it.

But I closed my short from 97 at 27. As I said, ignore any bull setup because there is something bigger driving the EUR down. Any bull setup for other risk currencies is a follow but EUR/USD, some shit is up man.

Peace out!
  • #647,387
  • May 24, 2012 3:44pm May 24, 2012 3:44pm
Quoting Esssex
Drunk and high with a bitch on my bed sleeping. Probably would think I'm a fag for checking my FX positions at frigging 4.40am if she saw it.

But I closed my short from 97 at 27. As I said, ignore any bull setup because there is something bigger driving the EUR down. Any bull setup for other risk currencies is a follow but EUR/USD, some shit is up man.

Peace out!
LMAO!!!


Sounds like your the big winner today....all I got was a bag full of pips. You got to take home the prize!
  • #647,388
  • May 24, 2012 3:45pm May 24, 2012 3:45pm
H1 and H4 divergence on RSI. "CAN" go up soon...
  • #647,389
  • May 24, 2012 3:51pm May 24, 2012 3:51pm
Quoting Esssex
Drunk and high with a bitch on my bed sleeping. Probably would think I'm a fag for checking my FX positions at frigging 4.40am if she saw it.

But I closed my short from 97 at 27. As I said, ignore any bull setup because there is something bigger driving the EUR down. Any bull setup for other risk currencies is a follow but EUR/USD, some shit is up man.

Peace out!
One of the best posts ever i read here. Thanks.
How to opt out annoying user signatures ??
  • #647,390
  • May 24, 2012 3:52pm May 24, 2012 3:52pm
Quoting eliabreu
H1 and H4 divergence on RSI. "CAN" go up soon...

I'd really like that since I'm underwater with a long snorkel
  • #647,391
  • May 24, 2012 3:53pm May 24, 2012 3:53pm
Quoting mkvy
The problem is that no one seems to look at the bigger picture

Calling a turn would only be valid if something dramatically certain happened in Greece, like the population voting for a party that supports austerity... Until that day happens there is nothing to power a turn, so sorry..
Greece is not important.

Perception is everything.

Supply and Demand at any given moment on the chart rules the price.

Buyers and sellers reacting to Hope or Fear.

A speculators job is to determine which emotion is ruling at any given moment.

The chart tells that story by way of price. Nothing else needed.


Note everyone ask why did such and such go down when the earnings announcement was great? Because the market had already priced that in and now everyone is taking profits for FEAR of losing them.
  • #647,392
  • May 24, 2012 3:53pm May 24, 2012 3:53pm
You suck...why I am I here staring at a stupid screen....let's partyyy
  • #647,393
  • May 24, 2012 3:56pm May 24, 2012 3:56pm
Quoting todstars2
Exactly. That is the goal.

A real Trend doesn't change that quick. Not intraday, but slowly over days sometimes weeks.

That's where many newbies get trapped.

Thinking a reaction against the Primary Trend is a new trend and they wonder why they keep losing.

If its just a reaction one needs to know so they can either protect themselves against a return to the Primary Trend or enter their trade at the top of the reaction.

Intra-day charts are very misleading for trend purposes.

Its either a Primary trend or a reaction against that trend in either...
there is no meaning of speaking of trend without the proper timeframe
what is a trend for you on a daily basis it is irrelevant for the one who trades on 15 min chart probably... and vica versa...
'You must be the change you wish to see in the world' . Gandhi
  • #647,394
  • May 24, 2012 3:57pm May 24, 2012 3:57pm
80% sure that we will see 1.20xx en 2-3 weeks
  • #647,395
  • May 24, 2012 3:58pm May 24, 2012 3:58pm
Quoting eliabreu
H1 and H4 divergence on RSI. "CAN" go up soon...
I really like your handle/bible quote very cool and very true
  • #647,396
  • May 24, 2012 3:59pm May 24, 2012 3:59pm
Quoting Itrade24h
80% sure that we will see 1.20xx en 2-3 weeks
where does the 80% come from
  • #647,397
  • May 24, 2012 4:06pm May 24, 2012 4:06pm
Quoting todstars2
Greece is not important.

Perception is everything.

Supply and Demand at any given moment on the chart rules the price.

Buyers and sellers reacting to Hope or Fear.

A speculators job is to determine which emotion is ruling at any given moment.

The chart tells that story by way of price. Nothing else needed.


Note everyone ask why did such and such go down when the earnings announcement was great? Because the market had already priced that in and now everyone is taking profits for FEAR of losing them.
Greece's situation is IMPORTANT. FEAR is the right word, and should be used here.
IF they do exit EURO ZONE, ladies and gentelmen, be prepared for landing.
  • #647,398
  • May 24, 2012 4:14pm May 24, 2012 4:14pm
Quoting phxmike
there is no meaning of speaking of trend without the proper timeframe
what is a trend for you on a daily basis it is irrelevant for the one who trades on 15 min chart probably... and vica versa...
I would say its very relevant because of the following reason.

Its either a Primary trend or a reaction against that trend in either direction.

The market forces behind the Primary Trend can hurt your account quick if you don't understand the difference and trade accordingly, even if you are trading intra-day.
  • #647,399
  • May 24, 2012 4:17pm May 24, 2012 4:17pm
Quoting Paulenok
Greece's situation is IMPORTANT. FEAR is the right word, and should be used here.
IF they do exit EURO ZONE, ladies and gentelmen, be prepared for landing.

As a contrarion, I would hazard a guess that Greece exit would send the EUR to the moon because they would have gotten rid of the dead weight.

The chart is saying the expectation is they will stay so the price continues to slide on down.

Of course there might be a momentary reaction but once it sunk in that Europe is free of this debt laden piece of crap off it goes to the moon

Just a possibilty, but very real.
  • #647,400
  • May 24, 2012 4:21pm May 24, 2012 4:21pm
hey guys i was looking through this thread from the beginning i was wondering is this about a certain strategy
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