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EURUSD

  • #661,361
  • Jun 23, 2012 12:20pm Jun 23, 2012 12:20pm
Quoting vacuum1
Has anyone got any experience trading EURUSD on Pacific Standard Time? I'm about to move to this time zone, and I've heard it's the worst time zone for forex trading. Thanks.

You are correct, it's aweful. Let me explain why. If you have a full time job and a kid here's how it works...

1). you log into forex at lunch time (1:00pm pst) and look to make a trade and the market is in a coma. no opportunity unless you force it.

2). you come home from work (6:30pm pst) and look to make a trade but you haven't had a chance to research the charts and your wife is mad because you have yet to spend time with her and the kid is screaming for your attention.

3). wife time, dinner, kid bath, kid bed, time to trade. STATE OF EXHAUSTION. how do you study charts and find a high probability trade at 10:00pm pst. again, at this time the market really isn't doing much as it nears the end of the asia session. unless you force it.

4). you fool yourself into thinking you are going to wake up at 1:00am pst and be a part of the london session but you can't wake up or find yourself completely out of sorts.

5). you wake up at 4:30am pst and get about a half hour to research and find an opportunity, however, by the time a trade manifests you kid is getting up and you have to get them ready for school.

I have been trading for six years from san diego and still to this day struggle with the hours as it relates to the market liquidity, pacific standard time, marriage and children.

I think if you are single, it may be different and if you are not working different as well. Just my experience.
  • #661,362
  • Jun 23, 2012 12:38pm Jun 23, 2012 12:38pm
Quoting chess king
I've been watching your posts and would like to know how to calculate the total size of the movement?
EX: 8828? or 8390?
but the lowest I have is 8227 ..
then what is the starting point? to 1.5829..
As far as I see Gator works without wicks. A itself level depends on the broker. That is why I prefer to work with MurreyMath. Nothing that has only 8 divisions. To me just as much need for the square of Gann.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 35 KB


The calculations are simple. The graph has a division - 1.23285 to 1.27661 or 0.04376. This is the sixteenth of the whole. We know the middle is 1.23285, right?
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #661,363
  • Jun 23, 2012 1:05pm Jun 23, 2012 1:05pm
sdcasper,

Well, if you've been trading for six years you must be getting something right!

Still, from past experience, waking up in PST is like waking up after the party's over, and having to pick one's way through the debris. Though there were perhaps some advantages with USDJPY, being wide-awake for an intervention.

I think my first plan will be to wake up at 4.30 am. Then you seem like an early bird. If I can make money doing that, from the NY session, then I can justify the transition to a fully-fledged night owl, and getting the London session as well.
  • #661,364
  • Jun 23, 2012 1:17pm Jun 23, 2012 1:17pm
http://uk.finance.yahoo.com/news/one...-the-euro.html

  • #661,365
  • Jun 23, 2012 1:55pm Jun 23, 2012 1:55pm
Quoting sdcasper
You are correct, it's aweful. Let me explain why. If you have a full time job and a kid here's how it works...

1). you log into forex at lunch time (1:00pm pst) and look to make a trade and the market is in a coma. no opportunity unless you force it.

2). you come home from work (6:30pm pst) and look to make a trade but you haven't had a chance to research the charts and your wife is mad because you have yet to spend time with her and the kid is screaming for your attention.

3). wife time, dinner, kid bath, kid bed, time to trade. STATE...
It is almost the same CEST timezone, with few exceptions I am not yet married bu I am with my fiance for 8 years guess what she wants the most when I return from work yup its attention.

I breed boas and pythons so I need to feed them, every breeder of these snakes knows why to keep an eye on them while feeding.

When I am at observing a developping oportunity usually someone steps in my office with some urgent need to be done problem ...

Thus now I am developping my own EA when all indicators are successfully built into my java frontend so I do no have to run Mathematica for analysis anymore it would be a lot easier to trade.
  • #661,366
  • Jun 23, 2012 2:01pm Jun 23, 2012 2:01pm
I think my first plan will be to wake up at 4.30 am. Then you seem like an early bird. If I can make money doing that, from the NY session, then I can justify the transition to a fully-fledged night owl, and getting the London session as well.[/quote]

i guess it's preference. it took me a long time to realize the hours i was trading were low liquidity and opportunity. that hurt my progress and growth. now i trade at 1:00 to 4:00. forced myself to get used to the change in lifestyle. the years of hard knocks made me stronger when the opportunities are there.
  • #661,367
  • Edited 8:23pm Jun 23, 2012 2:11pm | Edited 8:23pm
Hi everyone,

I would like to share my view on EUR for the upcoming week. I trade a simple system on the daily and 4 hour. Mainly the daily.

Looking to go long at 1.2500-1.2525, watching 1.2625 resistance. It broken, I will take profit at 1.3000.

If short setups up preferably at 1.2645, I will take watching support at 1.2500 and 1.2410, and hold for 1.2015.

Either way euro looking like a 500pip move is ahead.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURJUN24.jpg Size: 65 KB
Click to Enlarge Name: EURJUN24SHORTPIC.jpg Size: 89 KB
  • #661,368
  • Jun 23, 2012 2:13pm Jun 23, 2012 2:13pm
Quoting vacuum1
Has anyone got any experience trading EURUSD on Pacific Standard Time? I'm about to move to this time zone, and I've heard it's the worst time zone for forex trading. Thanks.
Getting up at 5am everyday, going to bed at 1-2am... Yeah it's pretty killer, but you get used to it once you learn the art of power napping.
  • #661,369
  • Jun 23, 2012 2:56pm Jun 23, 2012 2:56pm
Quoting godim
I use English with the help of Google translator. I'm not sure I understood everything.
Most traders do not pay attention to time. How do you include the time in their analyzes. I'm not saying trade. If trading is all described above. Then analysis should be stripped of feelings and psychology and so on.
My question relates to the following. Consider the graph of KillerWhale for example. It is on H4 timeframe, right? But what period of time we must see on this graph? I think any timeframe has duration in time. What do you think about this?
For...


Hi Godim,

is that Center of Gravity Indicator on your chart?
  • #661,370
  • Jun 23, 2012 3:14pm Jun 23, 2012 3:14pm
Quoting sdcasper
You are correct, it's aweful. Let me explain why. If you have a full time job and a kid here's how it works...

1). you log into forex at lunch time (1:00pm pst) and look to make a trade and the market is in a coma. no opportunity unless you force it.

2). you come home from work (6:30pm pst) and look to make a trade but you haven't had a chance to research the charts and your wife is mad because you have yet to spend time with her and the kid is screaming for your attention.

3). wife time, dinner, kid bath, kid bed, time to trade. STATE OF...
You are such an experienced guy !!! Awesome !!!
Human
  • #661,371
  • Jun 23, 2012 3:17pm Jun 23, 2012 3:17pm
Quoting KillerWhale
Who knows? 1.2820 next week?

Trend is UP for more than 360 trading hours now
Hi killerWhale ... Is this generally what your chart looks Like ??? With all these indicators ??? I thought you traded SNR's ???
Human
  • #661,372
  • Jun 23, 2012 3:17pm Jun 23, 2012 3:17pm
Quoting infinitus
Hi Godim,

is that Center of Gravity Indicator on your chart?
Hi Markus...

I am not he to which you speak (), but the indicator with colored bands is attached here...plus the library file (MT4/indicators/library).

Article on the indy is here: http://articles.mql4.com/1028

I'm having a look now to see if the simple yellow line version is the same indicator with some settings turned off...and a lengthened period is being used.

Hope you're well. All the best.
Attached File(s)
File Type: mq4 NLR_Mix.mq4   4 KB | 367 downloads
File Type: mq4 NLR_Mix_Library.mq4   14 KB | 386 downloads
  • #661,373
  • Jun 23, 2012 3:28pm Jun 23, 2012 3:28pm
Quoting Nachiket
then probably u are over optimistic or probably u are living in 2008-2009.
i probably understand the mkt more than you do
Hudson Metrics
  • #661,374
  • Edited 5:18pm Jun 23, 2012 4:56pm | Edited 5:18pm
Quoting KillerWhale
Since when does North Korea have Central time?
Just asking
Since I am 3 years old also. You probably believe there are retail forex traders in North Korea as well..
  • #661,375
  • Jun 23, 2012 5:06pm Jun 23, 2012 5:06pm
Quoting 5percent
...

Anyway, i am trying on a tool, myfx heard of it? It allows me to modify my position.

for example, if i have 1.0 lot on a 100 pips run down in profit yet taken tp. I can choose between 25-50-75% TP. If i choose 50% take profit, i would bank in 500 dollar, and my lot become 0.5 to continue the run down, that way i have a peace of mind at least the whole day i don't trade for nothing. A normal MT4 i can't do it, or is there such an EA? Myfx allows me to modify and even have 1-2pip quick tp that my broker don't allow.
Though haven't had anything to do with it, but I get the picture. I once wrote an EA and Script that does something similar when I had a short trading test of the MT4 platform. It's useful when your broker utilizes STOP LEVELS. But you have to be careful, as such tool is clientside oriented. If you set your TP values in it, they are on your client terminal not your broker's order management server(s). If you suddenly experience a network failure or breakdown while you have an open position, and you do not have a redundant network connection, the results might arrest your cardiac. Be sure you know what you're doing before feeling comfy with it. You've only got one life to live, trade well.
Don't just beat the markets, leave bruises.
  • #661,376
  • Jun 23, 2012 7:21pm Jun 23, 2012 7:21pm
Quoting godim
As far as I see Gator works without wicks. A itself level depends on the broker. That is why I prefer to work with MurreyMath. Nothing that has only 8 divisions. To me just as much need for the square of Gann.

Attachment

The calculations are simple. The graph has a division - 1.23285 to 1.27661 or 0.04376. This is the sixteenth of the whole. We know the middle is 1.23285, right?
I think I've realized ... accounts are always the same (8/8) now the levels are what we choose ..!
thank you
  • #661,377
  • Jun 23, 2012 8:32pm Jun 23, 2012 8:32pm
Quoting attila
Since I am 3 years old also. You probably believe there are retail forex traders in North Korea as well..
Not really, unless you're high up in a government job with the luxury of a computer and internet
New voice message: Why are you calling me? If I need you, I'll call you!
  • #661,378
  • Jun 23, 2012 11:00pm Jun 23, 2012 11:00pm
It's the thought that counts...
Attached Image
  • #661,379
  • Jun 24, 2012 12:33am Jun 24, 2012 12:33am
Quoting kenfen69
Hi Markus...

I am not he to which you speak (), but the indicator with colored bands is attached here...plus the library file (MT4/indicators/library).

Article on the indy is here: http://articles.mql4.com/1028

I'm having a look now to see if the simple yellow line version is the same indicator with some settings turned off...and a lengthened period is being used.

Hope you're well. All the best.
Yes. So it. I have a few days just put the links in my signature.
The timing of the timeframes see this link.
http://www.forexfactory.com/showthre...02#post5597402
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #661,380
  • Jun 24, 2012 2:54am Jun 24, 2012 2:54am
I see that you are not taking me seriously. So I will speak metaphorically. What is it about? Most of you are old sea wolfs (so at least it is in Bulgarian). And for years crossed the ocean (Forex) and accumulate treasure in his ship. You feel happy and more confident on captain place. But do you know to where you move your ship? Have you a map with shallow, hollows, currents, etc? In most cases you (us) to let the winds and currents can lead us. And often where falls our ship is not good. I'm talking about the map. The correct map is important to be good captain. No maps - will under the influence the elements. If you have a map that does not make you a good captain. You have to learn to count map and to navigate the ship in a safe way. There are people in the forum, which are shown to have accurate maps and they are good captains. Let us learn from them.
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
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