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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #44,001
  • Jul 24, 2012 9:10am Jul 24, 2012 9:10am
Quoting Tom_D_Trader
Ok, catch it. GL
I don't wanna catch them... I want to throw them

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  • #44,002
  • Jul 24, 2012 9:12am Jul 24, 2012 9:12am
Quoting halkins
I don't wanna catch them... I want to throw them
.
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"I know one thing, that I know nothing." Sokrates
  • #44,003
  • Jul 24, 2012 9:17am Jul 24, 2012 9:17am
Btw, my idiotic range seems to be working. This is clearly undecided market. Only 50 pips range. Once it breaks, it will go boom. I was hoping it will break down during todays Spanish bond auction, but it didnt happen. Nevertheless, I am still heavily convinced it is about to break down this week. Break hard. The longer the market stays in this compression range, the higher boom. Hold your hats and GL whatever side you choose.

T
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"I know one thing, that I know nothing." Sokrates
  • #44,004
  • Jul 24, 2012 9:28am Jul 24, 2012 9:28am
Quoting Tom_D_Trader
Btw, my idiotic range seems to be working. This is clearly undecided market. Only 50 pips range. Once it breaks, it will go boom. I was hoping it will break down during todays Spanish bond auction, but it didnt happen. Nevertheless, I am still heavily convinced it is about to break down this week. Break hard. The longer the market stays in this compression range, the higher boom. Hold your hats and GL whatever side you choose.

T
Market is at decision point. It has two options.
1. Correct upwards, resume downwards.
2. Screw upwards, continue downwards.

Until we get an H4 candle close below 1.2080 or above 1.2140, the decision has not yet been made.
Those who say it cannot be done should not interrupt those who are doing it
  • #44,005
  • Jul 24, 2012 9:30am Jul 24, 2012 9:30am
Quoting Tom_D_Trader
Coz he doesnt count Sunday data.
pls Tom, if sunday is not counted,how would i calculate say 2morows PP?tanks
Life is beautiful the way you dress it.
  • #44,006
  • Jul 24, 2012 9:40am Jul 24, 2012 9:40am
15min higher low. Its really trying its hardest to stay up (for now anyway)
  • #44,007
  • Jul 24, 2012 9:40am Jul 24, 2012 9:40am
Quoting halkins
I am staying aside, not trading today doing some stupid must-to-do-house-jobs but I must drop a line here.
Guys, there's nothing wrong in counter-trend-trading.
I love this, it suits my style and personality.
It all depends on what time frame you are making you setups, where is your target and stop.
As in technical analysis there are Long-Term and Short-Term views, the same is with fundamentals. And many traders forget about it all the time.
My fundamental view for EURUSD for TODAY ( I repeat: FOR TODAY) is slightly bullish.
Troika...
You are absolutely correct that there is nothing wrong with counter trend trading. However it is not for amateurs. Also it is not for every seasoned trader. It all depends on how much effort you want to put in to your trading and how much risk you want to take. I am a laid back (lazy?) conservative trader who understands and follows market psychology and all the underlying fundamentals. Don't get me wrong... it is not a fail safe system because the market does not always make sense, but it is certainly less work and lower risk.
Those who say it cannot be done should not interrupt those who are doing it
  • #44,008
  • Jul 24, 2012 9:48am Jul 24, 2012 9:48am
Quoting andys0506
15min higher low. Its really trying its hardest to stay up (for now anyway)
Yep it is trying hard. However, there is no apparent mojo left. I think we're done for the day. Maybe tomorrow.
Those who say it cannot be done should not interrupt those who are doing it
  • #44,009
  • Jul 24, 2012 9:54am Jul 24, 2012 9:54am
Quoting PipTrapper
Yep it is trying hard. However, there is no apparent mojo left. I think we're done for the day. Maybe tomorrow.
Yes - thought there was a good chance for a break down half an hour ago.....think it's too late now. Spanish 10 yr at 7.616 tho'
  • #44,010
  • Jul 24, 2012 10:04am Jul 24, 2012 10:04am
Quote from FXSPORT reply to Doc...

"If you keep taking smaller profits that means you're trading scared and it's time to stop trading and re-visit your trading plan. How much are you willing to risk for that gain and if you're cutting that gain shorter and shorter you're selling yourself short, you're not sticking to your plan or your plan is wrong. Stop and get over it."

Thanks Sport! This paragraph was a pearl of wisdom for me.
  • #44,011
  • Jul 24, 2012 10:17am Jul 24, 2012 10:17am
Yesterdays low at 068 still holding
  • #44,012
  • Jul 24, 2012 10:23am Jul 24, 2012 10:23am
Just came back from droping wifey. I have been stop out @ BE+1. I guess I move to BE to fast. I still reenter. @ 1.2079 with same stop loss.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #44,013
  • Jul 24, 2012 10:25am Jul 24, 2012 10:25am
Quoting Wulfgar

This next 24 hour period I will be focused on the EU only for live trading with a close eye on Swissy/Cable/ and Aussie as correlating pairs.
Fundamentally NOTHING has changed but the ranges are still smallish due to low summer volume. Although our downtrend is intact.
A fundamental update.

Moody’s lowered its outlook on Germany, the Netherlands and Luxembourg from stable to negative, causing the common currency to slip against all pairs. Moody’s said that there’s increasing risk of Greece exit and support for Spain and Italy. And, “given the greater ability to absorb the costs associated with this support, this burden will likely fall most heavily on more highly rated member states if the euro area is to be preserved in its current form”.
Greece’s prime minister requested changes to the country’s bailout agreement.
Bond markets continue to price in the worry and lead the charge with Italian and Spanish yields solidly driving upwards.

Concern over possible Japanese central bank intervention kept the yen in check.


Quoting Wulfgar
EUR/USD – current 1.2122 Let pair move to 1.2140/1.2150 area and reverse – Place SELL STOP 1.2128(triggered currently since price went to 1.2140) with a 20-40 pip TP target but monitoring momentum and news wires for a push.
SECONDARY entry 1.2099 Pair may bounce the first time so I will be looking to close my entire position here at 1.2080 unless we get a hard push to the 1.2000/1.2019 level

All trades triggered and maximum profits realized and closed at the 1.2080/1.2102 levels respectively

We are currently at 1.0285. Range of the day is 1.2140 to 1.2072. Yet the numbers are hard wired so guys dont get to greedy with the TP levels if you are trading intraday. 20-40 pip grabs can make some hefty profits
  • #44,014
  • Jul 24, 2012 10:28am Jul 24, 2012 10:28am
Quoting PipTrapper
Perhaps in your eyes and I appreciate the compliment. However, I am no master other than of my own domain. This business (not game) is dominated by many masters in high towers... I'm NOT one of them. I'm just a humble trader who knows by experience that hot surfaces burn fingers

ur such a delight to read,PT
Allah has permitted trade and has forbidden interest [koran]
  • #44,015
  • Jul 24, 2012 10:29am Jul 24, 2012 10:29am
In addition I just wanted to point out and thank CurrencyMan for his invaluble finds on fundamental analysis. Anybody new to the business with an interest in increasing their knowledge of money flow and fundie analysis should take the time to read and digest each of his posts. Thank you my friend for sharing all those insights.
  • #44,016
  • Jul 24, 2012 10:39am Jul 24, 2012 10:39am
Finally going down.
  • #44,017
  • Jul 24, 2012 10:40am Jul 24, 2012 10:40am
Quoting PipTrapper
You are absolutely correct that there is nothing wrong with counter trend trading. However it is not for amateurs. Also it is not for every seasoned trader. It all depends on how much effort you want to put in to your trading and how much risk you want to take. I am a laid back (lazy?) conservative trader who understands and follows market psychology and all the underlying fundamentals. Don't get me wrong... it is not a fail safe system because the market does not always make sense, but it is certainly less work and lower risk....
i certainly agree with that.trading with trend is much easier but sometime few days happen like on 29th last month which may make one very jumpy but these are logistic problem.i think the main problem is account size and once anticipation of profits,which can make a person impatient with the outcome,and that is not good for trading accounts.
Allah has permitted trade and has forbidden interest [koran]
  • #44,018
  • Jul 24, 2012 10:42am Jul 24, 2012 10:42am
Quoting Wulfgar
In addition I just wanted to point out and thank CurrencyMan for his invaluble finds on fundamental analysis. Anybody new to the business with an interest in increasing their knowledge of money flow and fundie analysis should take the time to read and digest each of his posts. Thank you my friend for sharing all those insights.
oh currency man we love and admire u.
Allah has permitted trade and has forbidden interest [koran]
  • #44,019
  • Jul 24, 2012 10:55am Jul 24, 2012 10:55am
Trading with the trend is the best but I am sure it will turn for correction at some point in time which it is very difficult to pick. It could be very hurt trying to stop a moving train though. However, if it is well planed with a good MM, one can make some good pips from it. It is alway difficult as price tends too play alot of tricks where it will usually turn. I am just waiting for my stop loss to hit or my TP. Afterall I am already on it and I may not be to much UNDERWATER LIKE DOC.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #44,020
  • Jul 24, 2012 11:13am Jul 24, 2012 11:13am
Quoting drzakir123
i certainly agree with that.trading with trend is much easier but sometime few days happen like on 29th last month which may make one very jumpy but these are logistic problem.i think the main problem is account size and once anticipation of profits,which can make a person impatient with the outcome,and that is not good for trading accounts.
Certainly if trading is your sole income or an important part of your primary income, then you need to make sure you have a minimum of capital on hand. Even if you managed to consistently double your account every month (highly unlikely), if you withdraw your profits to live on, then your account capital cannot be less than what you need to derive from trading activities in order to sustain your lifestyle on a monthly basis.

I am not in that category. Yes my trading profits are part of my primary income, but they are not my sole income. My income is derived from diverse sources. Moreover, I have sufficient capital in my trading account for me to be very happy with only 10% per month of returns. Low stress and easy living. If I were to feel pressured to over leverage myself, or always be in the market in order to meet my income quota, I doubt I would enjoy as good a performance as I do. In fact, I can go many months with no trading income and still be okay. I think (for me anyway) that is an important ingredient in my trading mindset.
Those who say it cannot be done should not interrupt those who are doing it
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