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Day Trading for a Living

  • #361
  • Jul 8, 2012 4:42pm Jul 8, 2012 4:42pm
Quoting Turveyd
Down trend is in, might be much lower than 1.55 by the time london opens.

Should have all Monday free to trade, watch as I get a call out
Lets hope not

The surgeons hat is going on this week, off with a few scalps!
  • #362
  • Jul 8, 2012 5:38pm Jul 8, 2012 5:38pm
AudUsd might be a short here, danger tight SL could work.


No trades for me till the am ( maybe pm if I over sleep )
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #363
  • Jul 9, 2012 12:45am Jul 9, 2012 12:45am
Wow loads of stuff going on here! I like the community atmosphere in here!!!

I am currently looking to short the Euro either at 1.2300 or 1.2315. Previous S&R and Daily Pivot...
  • #364
  • Jul 9, 2012 12:49am Jul 9, 2012 12:49am
Quoting Turveyd
If you can't trade, write a book!

What are your problems ??
ahaha so much writers and creative thinkers here as a fact
very nice, good price..!
  • #365
  • Jul 9, 2012 1:22am Jul 9, 2012 1:22am
I'm long AUDUSD at 1.0190. With 20pips stop.
No longer trading forex. Looking for full time job.
  • #366
  • Jul 9, 2012 1:27am Jul 9, 2012 1:27am
Crude oil short @ 8480

USDCAD short @ 10189
  • #367
  • Jul 9, 2012 1:28am Jul 9, 2012 1:28am
Quoting mmaker
I'm long AUDUSD at 1.0190. With 20pips stop.
gud luk
break of 10198 will be VERY bullish
  • #368
  • Jul 9, 2012 1:31am Jul 9, 2012 1:31am
Quoting mmaker
I'm long AUDUSD at 1.0190. With 20pips stop.

I've been thinking of making a move similar to this. However I'm just not too sure about the strength of an upside argument. Asian indices traded lower, S&P futures continue to trade lower on a 2nd consecutive day, we got bad econ releases that just pulled up from China and even a smaller German trade balance along with Greek 10Yr trading UP 100bps+ within the last couple of hours.

I know that a +20bps isn't a trade that is looking for a shift in sentiment, but given how the market is unfolding today i'm more prompted to hold on to my short. Im seeing the AUD/USD having a hard time break above the 200MA on the 1 hour chart after having broken below.
  • #369
  • Jul 9, 2012 1:36am Jul 9, 2012 1:36am
Quoting marwan2010
Crude oil short @ 8480

USDCAD short @ 10189
GBPUSD long 15488
  • #370
  • Jul 9, 2012 1:36am Jul 9, 2012 1:36am
morning,

Interesting week last week with the 1.228x low fianlly being taken out and confirming that the 1.328x to 1.228x correction is over.

Target zone is now 1.216x to 1.200x however, a pull back towards 1.240x is now quite likely which is where I will load shorts again.

In the meantime I am long from 1.2287 but with a tight stop on this very speculative trade.
Attached Image (click to enlarge)
Click to Enlarge Name: a1.png Size: 44 KB
  • #371
  • Jul 9, 2012 1:42am Jul 9, 2012 1:42am
Quoting marwan2010
GBPUSD long 15488
GOLD - looking to go long at 158250
any views?
  • #372
  • Jul 9, 2012 1:42am Jul 9, 2012 1:42am
Quoting Kasqade
I've been thinking of making a move similar to this. However I'm just not too sure about the strength of an upside argument. Asian indices traded lower, S&P futures continue to trade lower on a 2nd consecutive day, we got bad econ releases that just pulled up from China and even a smaller German trade balance along with Greek 10Yr trading UP 100bps+ within the last couple of hours.

I know that a +20bps isn't a trade that is looking for a shift in sentiment, but given how the market is unfolding today i'm more prompted to hold on to my short. Im...
This AUDUSD long is just one trade out of a series of trades that I've been trading using my methods, so it really doesn't matter if it stopped. What we look for is long term consistency. I won't analyze the position to death. Once I have the signal, I put in the trade. Let it do it's thing ..... I'm generally bullish on the risk currencies. All this talk about China Germany Italy Spain ..... I'm just looking for a move to profit from with 20pips stop. Doesn't really matter.
No longer trading forex. Looking for full time job.
  • #373
  • Jul 9, 2012 1:46am Jul 9, 2012 1:46am
Quoting MaxDoom
morning,

Interesting week last week with the 1.228x low fianlly being taken out and confirming that the 1.328x to 1.228x correction is over.

Target zone is now 1.216x to 1.200x however, a pull back towards 1.240x is now quite likely which is where I will load shorts again.

In the meantime I am long from 1.2287 but with a tight stop on this very speculative trade.
What timeframe is your chart? I've been reading about Robert Miner and his version of Elliot Wave and Fibonacci trading. Will be reading your posts with interest.

CompassFX showed a free 2hrs webinar on this guy who trades fibonacci,
http://www.compassfx.com/kevin/replay/saturday.html
No longer trading forex. Looking for full time job.
  • #374
  • Jul 9, 2012 1:47am Jul 9, 2012 1:47am
Quoting marwan2010
Crude oil short @ 8480

USDCAD short @ 10189
I usually take AUDUSD and USDCAD in opposite correlation. So if I'm long AU and you're short UC, then we are seeing the same trade bias.

Good luck to you too.
No longer trading forex. Looking for full time job.
  • #375
  • Jul 9, 2012 1:52am Jul 9, 2012 1:52am
Quoting mmaker
What timeframe is your chart? I've been reading about Robert Miner and his version of Elliot Wave and Fibonacci trading. Will be reading your posts with interest.

CompassFX showed a free 2hrs webinar on this guy who trades fibonacci,
http://www.compassfx.com/kevin/replay/saturday.html

daily for that chart
  • #376
  • Jul 9, 2012 1:52am Jul 9, 2012 1:52am
Quoting marwan2010
GOLD - looking to go long at 158250
any views?
Looks like theres what will be resistance at 1584
  • #377
  • Jul 9, 2012 1:53am Jul 9, 2012 1:53am
Quoting mmaker
This AUDUSD long is just one trade out of a series of trades that I've been trading, so it really doesn't matter if it stopped. What we look for is long term consistency. I won't analyze the position to death. Once I have the signal, I put in the trade. Let it do it's thing ..... I'm generally bullish on the risk currencies.

Aye, I hear you. I wouldn't say that I analyze the trade to death but I will say that I take the extra time to ensure the quality of the trade. Same way I play poker, I always am more concerned about how much I'll lose before I explore further about the gains. I am by no means a veteran in this.
  • #378
  • Jul 9, 2012 1:59am Jul 9, 2012 1:59am
Quoting Kasqade
Aye, I hear you. I wouldn't say that I analyze the trade to death but I will say that I take the extra time to ensure the quality of the trade. Same way I play poker, I always am more concerned about how much I'll lose before I explore further about the gains. I am by no means a veteran in this.
Suppose you are right in your analysis. But how does market move on daily, 4hrs, 60mins, 15mins, 5mins, 1mins charts? Each time intervals will have it's trends and corrections that are tradeable. On a 1mins chart, the EU GU AU dropped 5pips. Does that mean your analysis is correct? On 5mins chart, the EU GU AU rose 10pips. Does that mean your analysis is wrong? I think there is a method to trading and some fundamental analysis just paralyze the trader.
---------------------------example analysis------------------------------------
http://staticapp.icpsc.com/icp/loadi...7cc5/image/png
Last Friday, we closed the week with a strong surge across markets, driven by the EU Summit statement.
Many were claiming it to be a significant step toward a resolution. But I said it wasn't a game changer. Rather, it was just more empty promises. We’ve seen this movie before.

Nonetheless, I expected the focus for this past week to shift toward the interest rate decisions that were slated for the week, the Greek bailout re-negotiations (both of which I noted would be euro negative) and the U.S. jobs report. Indeed, that’s what happened.

I also said it would be important to watch the behavior of Spanish and Italian yields this week -- that's where we would see the market vote on the EU Summit, after it has been digested.

Italian and Spanish Yields

And this week, the Spanish yields fully relapsed after the EU Summit driven improvements – those yields traded as low as 6.15% and are already back to 7% to close the week (see the chart below).

And Italian yields here... have nearly retraced the move, now back to 6% again.

So these sovereign debt yields, the area of biggest risk to Europe are now back to critically dangerous levels. Just as we’ve seen in past years, following another grand plan out of Europe. The relative calm in markets is short-lived. And that period of relief gets shorter and shorter with each passing euro zone response.

This return to unsustainable funding levels for Spain and Italy means the most recent bluff out of the euro zone (this newest plan) will be tested.

The next pressing question is: Will they roll out their plans to use bailout funds (EFSF/ESM funds) to start buying this sovereign debt in attempt to push yields down/ keep these markets somewhat stable?

If so, the EU will be depleting funds they don’t have – plus my sources tell me that we should expect the ratings agencies to step in and downgrade Spain and Italy to junk if they start taking bailout funds to finance debt. That would be very bad news for the euro.
No longer trading forex. Looking for full time job.
  • #379
  • Jul 9, 2012 2:18am Jul 9, 2012 2:18am
Quoting marwan2010
GBPUSD long 15488
Looking good, regardless of what fundamentals say.
No longer trading forex. Looking for full time job.
  • #380
  • Jul 9, 2012 2:42am Jul 9, 2012 2:42am
Quoting mmaker
Looking good, regardless of what fundamentals say.
Charts knows the truth! LOL
Have a pipful day
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