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EurAnalysis Kindergarten 24 replies

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  • #41,641
  • Jul 6, 2012 1:16pm Jul 6, 2012 1:16pm
The US released a number today on the Non-Farm Payrolls that was disappointing for the market, but got a different reaction to the technical charts. we saw how the market continued with the trend towards profit taking area, even-though the data indicated a different direction. It is going to be important to see if new swings setup next week as we expect a bounce.
Chief Market Analyst For SwingTraderOnline
  • #41,642
  • Jul 6, 2012 1:16pm Jul 6, 2012 1:16pm
Quoting Harpe Eagle

WoW ....... Master you aare an amazing person,amazing trader,etc etc....We all EurAnalysis members are bless to have you here , with your spot on analysis and everything....Once again congrats mentor
Now where you will take us for dinner and the to pool party

http://l.yimg.com/g/images/spaceout.gif

EDIT: I hope I get +7676 pips in my whole trading career
I just want to say thanks to traders on this thread as well. One tidbit from PT on the first page has made me much more profitable, specifically Raghee Horner's GRaB and Dt2z. Made more pips this slow week of trading than I have ever been able to in the past.

Nice wins PT! But I am from the US, so naturally I am looking for a redistribution of your wins to all the other members on the thread - Just joking!
  • #41,643
  • Jul 6, 2012 1:17pm Jul 6, 2012 1:17pm
Quoting Cgb
Time to enjoy the rest of the day. Locked in +577 and every time frame is now screaming oversold (yeah, yeah PT. I know "There's no such thing as oversold in a down trend", I did my push ups Call it "In need of a correction").
...
so true
  • #41,644
  • Jul 6, 2012 1:36pm Jul 6, 2012 1:36pm
it's been said already but, wow, incredible trading PT!


thanks for your maintaining such a wonderful thread, I probably spend 95% of my time just on this one thread only. always good for both intelligent analysis and a good laugh


happy with my +12.7% for today finally using low leverage


now i'm officially on the sidelines, get to have a relaxing weekend without anything open
  • #41,645
  • Jul 6, 2012 1:37pm Jul 6, 2012 1:37pm
Hey guys

Just sat down to review this sessions action

NFP showed mere 80k job growth in US in June, comparing to expectation of 100k. May’s figure, though, was revised slightly higher for 69k to 77k.


Despite missing expectations, the latest jobs figure still indicates some improvement in the labor market, and the FED announced due to todays NFP numbers more QE is NOT necessary.



Rate cuts from ECB and PBoC and QE expansion from BoE, didn’t help restore confidence in the markets.


DOW down over 100 points, Oil down, Gold and silver down, Translates to NO major move up for E/U rest of session. If trading, Congratulations once more to those who continued to catch and capitalize on this end of week unidirectional move in the Euro currency.


The channel of significance for swing/position traders is now the support at the 1.2219-1.2250/ 1.2460-1.2502 area


I personally missed the entirety of the move this week and was taken out of my higher shorts on last weeks squeeze so I did NOT manage any profit on this E/U move.



I currently am only holding a few short GU positions from the 1.5599 and 1.5628. I had a pending order to add short to the GU at 1.5499 but part of the plan was to remove the trade if it had not triggered by NFP time, which I did.


Have a great weekend everyone! Ill be back Sunday with an outlook for next weeks action.



Have a great weekend everyone. Ill be back over the weekend with a preview for next weeks action
  • #41,646
  • Jul 6, 2012 1:43pm Jul 6, 2012 1:43pm
Quoting Gofer Pips
138K
Gofer Pips! How are ya doin man? Remember me from the THV days? Miss working with you guys, but I moved on to equities, and part of a great group. I still watch the euro.

Euro looking weak here; peeps looking for a bounce but you know how bloody you hands can get from that.
  • #41,647
  • Jul 6, 2012 1:46pm Jul 6, 2012 1:46pm
Guys,

I am trying to find out a bit about Oil.

Does any of you know where is Oil traded? I mean at which Commodity exchange. What I am trying to find out is - Where can I buy Brent, where WTI, where Crude. Or if there is some other way to have Oil exposure except for ETFs.

Edit: Btw, If someone has a book to recommend or a link to topic I would be glad.

T
"I know one thing, that I know nothing." Sokrates
  • #41,648
  • Jul 6, 2012 1:57pm Jul 6, 2012 1:57pm
Quoting PipTrapper
Well folks I am almost flat. I have taken 85% of the profit off my 1.4647 and 1.3410 shorts and completely closed out everything else.
Now it's time to make a nice juicy withdrawal from my account. Can't wait

Trades closed:

Short @ 1.25444 - Closed @ 1.22776 for +266.8 pips
Short @ 1.25444 - Closed @ 1.22776 for +266.8 pips
Short @ 1.25651 - Closed @ 1.22784 for +286.7 pips
Short @ 1.26671 - Closed @ 1.22798 for +387.3 pips
Short @ 1.27050 - Closed @ 1.22795 for +625.5 pips
Short @ 1.27733 - Closed @ 1.22796 for +493.7 pips
Short @ 1.31559...
whoa nice job man.... i have been following your progress... nice work... enjoy your weekend and making withdrawals are always a beautiful thing
  • #41,649
  • Edited 1:59pm Jul 6, 2012 1:59pm | Edited 1:59pm
Quoting Tom_D_Trader
Guys,

I am trying to find out a bit about Oil.

Does any of you know where is Oil traded? I mean at which Commodity exchange. What I am trying to find out is - Where can I buy Brent, where WTI, where Crude. Or if there is some other way to have Oil exposure except for ETFs.

Edit: Btw, If someone has a book to recommend or a link to topic I would be glad.

T
http://en.wikipedia.org/wiki/Brent_Crude

Gives a good overview...

Several MT4 platform brokers allow you to trade cfd's on it. (Contract for Difference).
Easiest way is through CFDs.
I pay 5 pip spread on Brent and 4 pip on US Light Crude!

But I would honestly avoid it like the plague. I know several big players who stopped "playing" because of constant manipulation... There was a investigation a while back that died off...

hth
The winner of the rat race is still a rat.
  • #41,650
  • Jul 6, 2012 2:01pm Jul 6, 2012 2:01pm
Quoting Tom_D_Trader
Guys,

Or if there is some other way to have Oil exposure except for ETFs.


i'm trading futures
http://www.cmegroup.com/trading/energy/
  • #41,651
  • Jul 6, 2012 2:04pm Jul 6, 2012 2:04pm
Quoting PipTrapper
Well folks I am almost flat. I have taken 85% of the profit off my 1.4647 and 1.3410 shorts and completely closed out everything else.
Now it's time to make a nice juicy withdrawal from my account. Can't wait

Total pippage = +7676.7
http://www.moneycontrol.com/news_ima..._japan_190.jpg

I caught a snap of Christine Lagarde reading you pip count!

The winner of the rat race is still a rat.
  • #41,652
  • Jul 6, 2012 2:08pm Jul 6, 2012 2:08pm
Quoting LittleLuca
Several MT4 platform brokers allow you to trade cfd's on it. (Contract for Difference).
Easiest way is through CFDs.
Thank you for trying to help, but that is not exactly what I was asking for. I do not need link to wiki, I can Google that.

Ofc Brokers let you trade CFD. But difference in what? In price of ETF vehicle or Oil Futures?

I am trying to find out, how is Oil traded. Globally. And especially where. I think that most of contracts must be futures, since Commodity Exchange knows when tanker arrives and in the meanwhile they can trade it.

T
"I know one thing, that I know nothing." Sokrates
  • #41,653
  • Jul 6, 2012 2:12pm Jul 6, 2012 2:12pm
Quoting LittleLuca
http://www.moneycontrol.com/news_ima..._japan_190.jpg

I caught a snap of Christine Lagarde reading you pip count!

Those who say it cannot be done should not interrupt those who are doing it
  • #41,654
  • Jul 6, 2012 2:32pm Jul 6, 2012 2:32pm
Quoting TradeWell
Gofer Pips! How are ya doin man? Remember me from the THV days? Miss working with you guys, but I moved on to equities, and part of a great group. I still watch the euro.

Euro looking weak here; peeps looking for a bounce but you know how bloody you hands can get from that.
Hey TW! Good to hear from ya! I still use THV with fibs, pivots and ma confluence. Since getting in this thread back in August 2011, with contributions of many tarders here, I am now getting more educated using Funnymental analysis as well as technicals.

You are welcome to come in and share anytime!
Take care
  • #41,655
  • Jul 6, 2012 2:36pm Jul 6, 2012 2:36pm
Quoting PipTrapper
Sounds good to me. Just hold off till I visit Canada which hopefully will be before the end of the year.

Loverly, loverly, loverly !!!

It would indeed be an honour and pleasure to meet you.

Please do keep us posted about your plans.

Regards.
  • #41,656
  • Jul 6, 2012 2:42pm Jul 6, 2012 2:42pm
Quoting Wulfgar
Hey guys

Just sat down to review this sessions action

NFP showed mere 80k job growth in US in June, comparing to expectation of 100k. May’s figure, though, was revised slightly higher for 69k to 77k.


Despite missing expectations, the latest jobs figure still indicates some improvement in the labor market, and the FED announced due to todays NFP numbers more QE is NOT necessary.



Rate cuts from ECB and PBoC and QE expansion from BoE, didn’t help restore confidence in the markets.


DOW down over 100 points, Oil down, Gold and silver...
ur not alone.i did manage some pips today and yesterday but not satisfied.i think last month 29th price action was a bit damaging psychologically.basically i am in recovery which will take a bit of time,any way i shouldnt lose the goal of my trading ie to prolong my life as a trader for next couple of year,if i just manage to hang on there money will follow.lets see if i will be successful in holding my account together.
Allah has permitted trade and has forbidden interest [koran]
  • #41,657
  • Edited 4:46pm Jul 6, 2012 2:51pm | Edited 4:46pm
Quoting PipTrapper
.congratulation PT for grabbing some pips anyway its not as important as the fact that u manage to keep ur self out from the long side of the market completly and that need some strong discipline and consistency in ones view point.in future we like to hear more about ur professor's way of looking at the market[peace and god blessing be upon him] and learn how to look at the market.
Allah has permitted trade and has forbidden interest [koran]
  • #41,658
  • Jul 6, 2012 2:53pm Jul 6, 2012 2:53pm
Quoting Tom_D_Trader
I am trying to find out, how is Oil traded. Globally. And especially where. I think that most of contracts must be futures, since Commodity Exchange knows when tanker arrives and in the meanwhile they can trade it.

T
In UK Brent is traded through ICE. And as u say its futures. US Crude is done through CME ( as catwomen says).

You can trade it through the contracts on the exchange the same way you can trade Forex futures Or you can trade it spot through CFD's which as you say most decent brokers offer.


Otherwise you can trade it through ETC (commodity version of ETF) But when it comes does to ETC, there are so many different products that you need to choose one and then look at what they actually contain... The main advantage to ETC's is that they offer that flexibility.. But ETC's can only be traded through their respective exchange on which they are listed and only when the exchange is open. (LSE, NYSE, etc etc)

hth a little bit more
The winner of the rat race is still a rat.
  • #41,659
  • Jul 6, 2012 2:55pm Jul 6, 2012 2:55pm
hope everyone is ok, just some advice to the minnows. This has been another exceptional week and i cannot see how anyone could of lost out, you could of looked at tea leaves, gutted chickens or just stuck to technicals lol and still come out with many pips. i hope you all have a good weekend and next week we'll net many more pips. take care
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #41,660
  • Jul 6, 2012 3:03pm Jul 6, 2012 3:03pm
Quoting LittleLuca
In UK Brent is traded through ICE. And as u say its futures. US Crude is done through CME ( as catwomen says).

You can trade it through the contracts on the exchange the same way you can trade Forex futures Or you can trade it spot through CFD's which as you say most decent brokers offer.


hth a little bit more
Thx for the answer Luc.

So to sum it up. Most of Oil which is coming to US and Europe comes through either ICE or CME futures. Am I right?

T
"I know one thing, that I know nothing." Sokrates
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