4-1 5-1 6-1 etc ..
Witch...
good weekend
.
- #39,367
- Jun 22, 2012 4:23pm Jun 22, 2012 4:23pm
- Joined Dec 2011 | Status: Don't put all ur eggs in one basket | 3,453 Posts
Swiss Franc future down like rock lol
Go to bed. 
- #39,368
- Jun 22, 2012 4:40pm Jun 22, 2012 4:40pm
- | Joined Feb 2012 | Status: Your Stop Loss is my Take Profit | 462 Posts
Market's close for 20 minutes now Chabang. PA on your MT4 is not moving!
edit1: and do some analysis bout s/r n where it (pairs) maybe gonna bounce up or down
redsword11, IfMyante, KennyZ, bumapatria, JohnPaul77 made my trading style.
- #39,372
- Jun 22, 2012 5:26pm Jun 22, 2012 5:26pm
- | Joined Nov 2011 | Status: Trader | 2,104 Posts
Market's close for 20 minutes now Chabang. PA on your MT4 is not moving!
I observe your reality but live my own. 
- #39,373
- Jun 22, 2012 5:35pm Jun 22, 2012 5:35pm
my account increase by 5% this month excluding the open position in canadian dollar.
most of my positions didnt trigger as planned and most of the money i made was on the long side,that means i have a degree of skill as a trader,but the problem is my account also has a degree of volatility which i think is not good.atleast i dont feel very comfortable.
i think i need to stabilise the volatality that means decrease leverage but growth of my account will suffer,now i have to worked on this problem,i am using presently risk managment wise, fixed...
I'm trading fx spot and futures for many years, and what I have learned is that there are just 2 things that are really important: the chart and $$$ management. I don't use any indicators, they tell you what you already know from the chart.
Generally I think you have to decide what type of trader you want to be: intraday or long term? They cannot be the same at all.
The point n. 4) need more words. Almost all the traders here, like to open trades counter trend. The problem is that if you don't know where the price will go, THEN you think to short a bull market because you think that the market is ready to reverse. THIS IS THE FIRST AND WORST ERROR. I understand is easier, you see that the EU for example reached 1.xxxxx then it hits a resistance then it have to reverse. NOOOOOOO, stop doing this please. Try 1 time to open the terminal and predict where the price will go, base on TA patterns, YOUR TRENDLINE, fibo, AB=CD, butterfly, gartleys etc. They work!. Just today I get a lot of $$ from a double top on M1. They are not reliable at 100% so if they work 75% of times, apply MM to be able to play 100 times, 75 times you will win.
Simply stated the traders that open counter trend trades here have to buy a good TA book, study it, and then start to predict the market moves.
My humble opinion.
Regards
forexBOOM
- #39,374
- Jun 22, 2012 6:53pm Jun 22, 2012 6:53pm
- | Joined Jun 2009 | Status: nothing new under the sun | 1,428 Posts
Allah has permitted trade and has forbidden interest [koran]
- #39,376
- Jun 22, 2012 11:28pm Jun 22, 2012 11:28pm
Just preparing for next week as I am bored, this is my preferred scenario but the GAP either way will have the last word on whether we are in play so I will make additional plans.
If we have a small gap north (possibly through 2600) then this scenario is possible. However I'm not sure how much of a risk-off event the Syria/Turkey military incident will be so a gap up may not be possible.
We are back under that trend-line from the monthly chart, though the market took us over and under it so many times last week that it will probably have less of a precise bounce, but I consider the close underneath it to be definitively risk-off (as well as the break of the 4hr channel).
Thursday's sell-off came from a bounce from supply at 1.26974, and I consider that supply not yet consumed so I will take a trade there. Fresh supply would be better but it was a healthy bounce so it may work again.
There is another trend-line (not pictured) from the 4hr channel that might stop price heading higher, but I'm no longer comfortable taking a short off that alone, as it was essentially ignored on the way down and there needs to be a significant supply in confluence for me to take it. Asia sold-bought-sold-bought the highs which was fairly neutral, and the move was predominantly in the late London-US market so my guesstimate is some profit taking in London/US on Monday for a re-sell higher starting with Asia (This is purely speculative). 1.2520 has been a hard nut to crack (also in pre-mt4 opening hours it was tested during the Greek saga), so a reload higher might be warranted to punch through it.
If there is a gap down my nearest buy level is probably in the 1.2300's, so I will be either waiting for that or waiting for new demand/supply to form. There are some possible bounces before then, but I'm not confident in them so I won't bother trading them.
If we have a small gap north (possibly through 2600) then this scenario is possible. However I'm not sure how much of a risk-off event the Syria/Turkey military incident will be so a gap up may not be possible.
We are back under that trend-line from the monthly chart, though the market took us over and under it so many times last week that it will probably have less of a precise bounce, but I consider the close underneath it to be definitively risk-off (as well as the break of the 4hr channel).
Thursday's sell-off came from a bounce from supply at 1.26974, and I consider that supply not yet consumed so I will take a trade there. Fresh supply would be better but it was a healthy bounce so it may work again.
There is another trend-line (not pictured) from the 4hr channel that might stop price heading higher, but I'm no longer comfortable taking a short off that alone, as it was essentially ignored on the way down and there needs to be a significant supply in confluence for me to take it. Asia sold-bought-sold-bought the highs which was fairly neutral, and the move was predominantly in the late London-US market so my guesstimate is some profit taking in London/US on Monday for a re-sell higher starting with Asia (This is purely speculative). 1.2520 has been a hard nut to crack (also in pre-mt4 opening hours it was tested during the Greek saga), so a reload higher might be warranted to punch through it.
If there is a gap down my nearest buy level is probably in the 1.2300's, so I will be either waiting for that or waiting for new demand/supply to form. There are some possible bounces before then, but I'm not confident in them so I won't bother trading them.
"Don't Panic..."
- #39,379
- Jun 23, 2012 11:30am Jun 23, 2012 11:30am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Many speculators will probably look to go long on crude after such news. However, one has to keep in mind that demand is down, inventories are way up and this is not a hurricane which can disrupt production for a week or more. What we have here is a potential tropical depression which may delay production by about 2 days... hardly enough time to deplete the available inventories.
One wonders if perhaps the editors at Bloomberg, or perhaps the writers of the sensationalized news clip are holding long positions on WTI Crude which are currently underwater.
Gulf Of Mexico Storm Threat Sparks Rig Evacuations
By Brian K. Sullivan and Lynn Doan - Jun 23, 2012 3:32 PM GMT+0200
Gulf of Mexico energy platforms began evacuations and shutdowns as a weather system off the Yucatan Peninsula threatened to turn into a tropical storm over the weekend.
There’s a 90 percent chance the cluster of thunderstorms, drifting northward, will become a tropical depression or Tropical Storm Debby within the next 48 hours, the National Hurricane Center said. Computer forecast models disagree on the system’s track.
“The center of circulation of the broad area of low pressure over the Gulf of Mexico appears to be becoming better defined,” the center said in an advisory before 8 a.m. New York time. “A tropical depression, or more likely a tropical storm, could form later today or tonight if the development trend continues.”
The Gulf of Mexico is home to 6.5 percent of U.S. natural gas production, 29 percent of oil output and 40 percent of refining capacity. Offshore oil and natural gas platforms need to carry out evacuations well in advance of a storm’s arrival, so any system in the Gulf can cause production disruptions.
One wonders if perhaps the editors at Bloomberg, or perhaps the writers of the sensationalized news clip are holding long positions on WTI Crude which are currently underwater.
Gulf Of Mexico Storm Threat Sparks Rig Evacuations
By Brian K. Sullivan and Lynn Doan - Jun 23, 2012 3:32 PM GMT+0200
Gulf of Mexico energy platforms began evacuations and shutdowns as a weather system off the Yucatan Peninsula threatened to turn into a tropical storm over the weekend.
There’s a 90 percent chance the cluster of thunderstorms, drifting northward, will become a tropical depression or Tropical Storm Debby within the next 48 hours, the National Hurricane Center said. Computer forecast models disagree on the system’s track.
“The center of circulation of the broad area of low pressure over the Gulf of Mexico appears to be becoming better defined,” the center said in an advisory before 8 a.m. New York time. “A tropical depression, or more likely a tropical storm, could form later today or tonight if the development trend continues.”
The Gulf of Mexico is home to 6.5 percent of U.S. natural gas production, 29 percent of oil output and 40 percent of refining capacity. Offshore oil and natural gas platforms need to carry out evacuations well in advance of a storm’s arrival, so any system in the Gulf can cause production disruptions.
Those who say it cannot be done should not interrupt those who are doing it
- #39,380
- Jun 23, 2012 11:57am Jun 23, 2012 11:57am
- | Commercial User | Joined Jun 2009 | 5,468 Posts
Many speculators will probably look to go long on crude after such news. However, one has to keep in mind that demand is down, inventories are way up and this is not a hurricane which can disrupt production for a week or more. What we have here is a potential tropical depression which may delay production by about 2 days... hardly enough time to deplete the available inventories.
One wonders if perhaps the editors at Bloomberg, or perhaps the writers of the sensationalized news clip are holding long positions on WTI Crude which are currently underwater....
Stocktwit: LuisCarlos - twitter: @lcparodi