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  • #647,581
  • May 25, 2012 4:10am May 25, 2012 4:10am
Morning Mike
Just saw your posts, I have entered mine as you can see. My target on EJ is still 97 hope it will get there.
Green pips to you as well
swing it!
  • #647,582
  • May 25, 2012 4:12am May 25, 2012 4:12am
Quoting tomspin
I am short 1,2579 SL 1,2615 TP 1,2465
This is aggresive entry as I am not waiting for confirmation after that lovely doji on H1 - this is Live position the only one I will make today
Fingers crossed

Consider widening your stop just 7 pips or so to tuck it above 1.2620... yesterday high and a level with very aggressive selling yesterday as large players sold into that level betting price would not move back above Jan low... tiny bit more risk for a lot more protection....

also there are a ton of stops at 2605... when... if tripped it will be noisy from 2605 to 2615.... you may get stopped out where your current SL is set due to noise....

Its your money of course.. do what YOU want..
  • #647,583
  • May 25, 2012 4:12am May 25, 2012 4:12am
Quoting tomspin
I am short 1,2579 SL 1,2615 TP 1,2465
This is aggresive entry as I am not waiting for confirmation after that lovely doji on H1 - this is Live position the only one I will make today
Fingers crossed

http://s16.postimage.org/s6o1l14md/euro.gif
adult image hosting
Let's see whether or not the forming candle closes below 1.2567, I guess then we'll ride down
  • #647,584
  • May 25, 2012 4:19am May 25, 2012 4:19am
IMO, a significant retrace is in the works. A large amount of buying below 1.26. If we break and hold above 1.26 on the 1hr, I could see 1.2685 as the next level of significant resistance, with 2633, and 2654 providing minor resistance along the way.

Long term trend is still down, med up, short up. GL
  • #647,585
  • May 25, 2012 4:21am May 25, 2012 4:21am
Quoting Crassius
Consider widening your stop just 7 pips or so to tuck it above 1.2620... yesterday high and a level with very aggressive selling yesterday as large players sold into that level betting price would not move back above Jan low... tiny bit more risk for a lot more protection....

also there are a ton of stops at 2605... when... if tripped it will be noisy from 2605 to 2615.... you may get stopped out where your current SL is set due to noise....

Its your money of course.. do what YOU want..
Nice tips Thank you !
I took 2600 as a ultimate barrier this time but your post make perfect sense to me.
@ Mike
as I said it is an aggresive entry, worked before very well but could be also exposure for fake drops - this is how I do it sometimes and my way to trade, my initial expectation is retest of 2600 or shadow of previous candle now you could ask why don't you enter higher than if you expect some up move after entry?
Well I enter when new candle open up - part of the plan and my little rules I am building up for myself.
swing it!
  • #647,586
  • May 25, 2012 4:21am May 25, 2012 4:21am
i know you guys dont believe much in EAs.

i can understand that very well. since i have seen god knows how many Eas fail. however check the attached statement.

it is an Ea running on EURUSD demo account live. so not done in stategy tester.

a friend of mine created an EA based on pure price action. it does not use any indicator at all. just pure math.

the account of 3000 went up to 8800 in 6 weeks of time. and open is now -220.

testing it also on small live account now, to see how much difference it is compared to demo account. and so far made +1100 pips this week and open is now -181 pips.

my friends say in theory this EA can never fail, the only way it can fail is a broker disconnectt you from the server. and then you logon again and the Ea logic is reset.

outside of that, it is impossibe. the EA has never been closed. ranging markets, trending markets it always worked. gaps in the weekend? no problem too.

again check out the statment and let me know what you guys think about it.
Attached File(s)
File Type: zip detailed-statementEA.zip   179 KB | 574 downloads
  • #647,587
  • May 25, 2012 4:23am May 25, 2012 4:23am
Quoting neutral
IMO, a significant retrace is in the works. A large amount of buying below 1.26. If we break and hold above 1.26 on the 1hr, I could see 1.2685 as the next level of significant resistance, with 2633, and 2654 providing minor resistance along the way.

Long term trend is still down, med up, short up. GL

Divergence on the weekly and US equity strengthening supports this as well...

depends on what time frame one is trading of course.... I'm short and building a larger position as long as we are south of 1.2865....

all the retrace is to me is a chance to build my short position bigger and bigger... I expect 1.20000 in coming weeks, and want to bet the farm on this 1000 pip move from 1.30000 as it will be one of the biggest moves of the year...
  • #647,588
  • May 25, 2012 4:24am May 25, 2012 4:24am
I am not an expert, but 1. 2595 seems to be a major resistance area. A break of this and if sustained will see it go to 1.2658 which is the second resistance on my chart for today. If that does not happen then it will go down to 1.2556 area.
  • #647,589
  • May 25, 2012 4:26am May 25, 2012 4:26am
Quoting trade4fun
i know you guys dont believe much in EAs.

i can understand that very well. since i have seen god knows how many Eas fail. however check the attached statement.

it is an Ea running on EURUSD demo account live. so not done in stategy tester.

a friend of mine created an EA based on pure price action. it does not use any indicator at all. just pure math.

the account of 3000 went up to 8800 in 6 weeks of time. and open is now -220.

testing it also on small live account now, to see how much difference it is compared to demo account. and so far...
I'd love to see your friend to put lets say standard acc on the line and let it run...
What is the point of this post???
Lets cut this straight away - How much and why so expensive?
swing it!
  • #647,590
  • May 25, 2012 4:27am May 25, 2012 4:27am
I understand that Monday is a holiday in the USA and some european countries so could be an uninteresting day today being Friday and all.
  • #647,591
  • May 25, 2012 4:31am May 25, 2012 4:31am
Quoting trade4fun
i know you guys dont believe much in EAs.

i can understand that very well. since i have seen god knows how many Eas fail. however check the attached statement.

it is an Ea running on EURUSD demo account live. so not done in stategy tester.

a friend of mine created an EA based on pure price action. it does not use any indicator at all. just pure math.

the account of 3000 went up to 8800 in 6 weeks of time. and open is now -220.

testing it also on small live account now, to see how much difference it is compared to demo account. and so far...
The name and the account number is so doggy I cannot take it seriously.
  • #647,592
  • May 25, 2012 4:33am May 25, 2012 4:33am
Quoting trade4fun
i know you guys dont believe much in EAs.

i can understand that very well. since i have seen god knows how many Eas fail. however check the attached statement.

it is an Ea running on EURUSD demo account live. so not done in stategy tester.

a friend of mine created an EA based on pure price action. it does not use any indicator at all. just pure math.

the account of 3000 went up to 8800 in 6 weeks of time. and open is now -220.

testing it also on small live account now, to see how much difference it is compared to demo account....
Tell your friend to sell this to the FI boys and not the retailers. If it's that good they will buy it.
  • #647,593
  • May 25, 2012 4:38am May 25, 2012 4:38am
anyone dreaming up some medium or short term long trend is heading for lots of grieve..friendly Warning!...CHEERS
Imanuel Parsifal
  • #647,594
  • May 25, 2012 4:39am May 25, 2012 4:39am
Quoting tomspin
Nice tips Thank you !
I took 2600 as a ultimate barrier this time but your post make perfect sense to me.
@ Mike
as I said it is an aggresive entry, worked before very well but could be also exposure for fake drops - this is how I do it sometimes and my way to trade, my initial expectation is retest of 2600 or shadow of previous candle now you could ask why don't you enter higher than if you expect some up move after entry?
Well I enter when new candle open up - part of the plan and my little rules I am building up for myself.
That's true and all candle masters will tell it, trade only on a new candle, the moment it starts, otherwise you might find yourself wondering "why did I breake the rule of engagement", the next candle drops like a bomb and you never had a chance to enter that trade.
  • #647,595
  • May 25, 2012 4:40am May 25, 2012 4:40am
Quoting Crassius
Divergence on the weekly and US equity strengthening supports this as well...

depends on what time frame one is trading of course.... I'm short and building a larger position as long as we are south of 1.2865....

all the retrace is to me is a chance to build my short position bigger and bigger... I expect 1.20000 in coming weeks, and want to bet the farm on this 1000 pip move from 1.30000 as it will be one of the biggest moves of the year...
I'm not really good with figuring out how long a move will take, but I agree we should eventually head to that 1.20-1.19 area. Certainly a lot of pips to be had.
  • #647,596
  • May 25, 2012 4:42am May 25, 2012 4:42am
Quoting forexchequer
The name and the account number is so doggy I cannot take it seriously.
It's not fun nor game.
I want to believe tht most traders here are taking it seriously like a business, where fun resides in Vegas.
  • #647,597
  • May 25, 2012 4:45am May 25, 2012 4:45am
Today makes for a great chance at a rally. It is a friday, but not just any friday, the friday before a long weekend. Memorial Day in the United States is on Monday. Price may very well retrace back to the 2700~ area.
  • #647,598
  • May 25, 2012 4:47am May 25, 2012 4:47am
Quoting neutral
I'm not really good with figuring out how long a move will take, but I agree we should eventually head to that 1.20-1.19 area. Certainly a lot of pips to be had.
Lots of pips of course true, but what if we are at the point when the euro will rise and you use daily or weekly candles with long SL and bigget TP, and the ruro goes straight to 1.48 by 2-3 weeks. what will you tell then, a bad filling?
Either you are an currency analyst with education and skill, learn all the market, that's your job to figure out what will probably be but most of us here stick to the charts and for us anything can happen. and any support or resistance level might be a turn point.
  • #647,599
  • May 25, 2012 4:49am May 25, 2012 4:49am
Bullish setups are failing so far.
But price is still above 75
COT: The precious data ignored
  • #647,600
  • May 25, 2012 4:50am May 25, 2012 4:50am
“Knowledge of what is possible is the beginning of happiness.”
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