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  • #674,701
  • Aug 2, 2012 4:10pm Aug 2, 2012 4:10pm
Quoting Vachus
He is referring to the Chinese war ships that made it finally to the borders of Syria. He doesn't know , that the war ships crossed the swiss canal one week ago and everything was published , including a photograph of a police in chief on board. The Chinese and Russian are sending a clear message, that what happened in Libya will not be repeated or allowed to be repeat...

Nothing really important
Thank you for the gift of enlightenment.

I was merely making a joke...as if to say: Pardon me? I couldn't hear you yelling the same thing three times in a row at the top of your lungs.

Never mind. My delivery was nearly as lame as his.

  • #674,702
  • Aug 2, 2012 4:13pm Aug 2, 2012 4:13pm
Quoting kenfen69
Thank you for the gift of enlightenment.

I was merely making a joke...as if to say: Pardon me? I couldn't hear you yelling the same thing three times in a row. at the top of your lungs.

Never mind.

No problem, i thought maybe you weren't following up and wanted to clarify the matter just in case it poped up in the news and you considered taking an action based on that. Its really annoying the way he wrote it
"It's the Margin, Stupid."
  • #674,703
  • Aug 2, 2012 4:19pm Aug 2, 2012 4:19pm
A quick search reveals a planned naval exercise with support from Russia, Iran and China has been in the news since atleast 19th JUNE.

http://www.ynetnews.com/articles/0,7...244395,00.html
  • #674,704
  • Aug 2, 2012 4:40pm Aug 2, 2012 4:40pm
Quoting almo
It occurred to me....I have no idea what the Chinese drink....



Anyone?
Almo, how was yesterday Long half an hour before the ECB Press conference went for you ? At what price you closed the trade ?
"It's the Margin, Stupid."
  • #674,705
  • Aug 2, 2012 4:41pm Aug 2, 2012 4:41pm
Quoting stevexyg
Who says his stop loss was small? It could have been 100pips so what point are you trying to make????
chill guys...we are here to share our strategy and to learn.everyone has their own strategy and trading styles.if u are comfortable with ur strategy just follow them..i admit i'm a noob with little experience..im not mad with ur statement KumoDragon and i will take that as an advise ..can i know your SL range?
  • #674,706
  • Aug 2, 2012 4:48pm Aug 2, 2012 4:48pm
Quoting Vachus
Almo, how was yesterday Long half an hour before the ECB Press conference went for you ? At what price you closed the trade ?
Hi Vachus,


believe it or not, I never closed


I'm not overly concerned yet - the charts are still telling me we continue to move sideways.

The longer this continues, the more this will suggest that we have reached a significant bottom.


AND - reaching 1.24 today, suggests [to me] we have higher prices yet to come.
  • #674,707
  • Aug 2, 2012 4:54pm Aug 2, 2012 4:54pm
Quoting almo
Hi Vachus,


believe it or not, I never closed


I'm not overly concerned yet - the charts are still telling me we continue to move sideways.

The longer this continues, the more this will suggest that we have reached a significant bottom.


AND - reaching 1.24 today, suggests [to me] we have higher prices yet to come.
Wish you good luck man and keep walking in the path were few dare to walk ...

PS : i was really impressed when i saw your post just few minutes before the volitale movement started , i said to myself " At least i'm not a lone in this "
"It's the Margin, Stupid."
  • #674,708
  • Aug 2, 2012 5:17pm Aug 2, 2012 5:17pm
Morning.

Well I felt a bit sorry for many traders that were up many pips just to see them vanish.
"Men who can both be right and sit tight are uncommon."
  • #674,709
  • Aug 2, 2012 5:23pm Aug 2, 2012 5:23pm
I got lucky myself and hit T3 before it reversed.
  • #674,710
  • Aug 2, 2012 5:34pm Aug 2, 2012 5:34pm
Quoting Mike8
Morning.

Well I felt a bit sorry for many traders that were up many pips just to see them vanish.
This is to teach them to set trade to BE, and to always trail profits! or take % of it, money is only yours when you banked them not in trading margin.

Yesterday's movement are the few occasion of " buy the rumor, sell the fact ", speculative moves makes the market drive up on hopes and big words on draghi's since last thursday. Price lifted up by 150 pips from 1.2250 to 1.2400 and next dived in splits minutes into 1.2250 back into 1.2140. More than 250 pips dive, a knife cut! We all know eur should fall, but they just want a higher place to dump this piece. Note that almost all indicators cannot follow price action at all, and those relying on 1min-5min or even 15min, all died to catching the grasshopper or falling knife subsequently.

Its illogical of how price moves as its mainly fundamental driven. I called us session las vegas, because its the time where most people will hit margin call and make losses. Unless they only use buy sell stop with small stop loss. Buy sell stop is trend driven, RR will pay it all.

http://business.time.com/2012/08/02/...=Google+Reader

This is just my opinion. i guess most banks and hedgefund are relying on robots as well, and most of the time these robots will activate trades in large leveraged volume, that's why u often will see breakout.

And by the time it lifted up and move in a direction, these trades will be set to BE and trail. Just as it retraces, the robot will continue to pump another orders to push it up higher to hit more stop losses or trigger other's buy stop, that's how normally trend or breakout is created, revealed by some hedgefund traders.

These volume are cheap volume, because the stop loss is very small, but the profits are very high! I have a speculative ea that drives on buy sell stops, and it once opened up to 200-300 trades on my vps in split seconds/minute most of the time during us session only due to higher volume traded, it don't really work well during asia or europe due to smaller market participants. but u see, since we cannot predict the future pricing, buy and sell stops work best.

As price moved up and getting pump, more orders were actually placed at different level of selling limit, and once it hit the desired level 1.2400, where rumors said huge offers will placed, option barrier. The robots will tp and change, relying on more sell stops and earlier's position of sell limits in place, and that's why u see knife free fall! in 100 pips in 10min and 30 min 200 pips. Normally, these actions are planned before a day start. Commonly, during FOMC and ECB, go back to study these 2 days, and see the price movements, always crazy.

Just my thoughts sharing, i can be very wrong , no offence to anyone.
  • #674,711
  • Aug 2, 2012 5:53pm Aug 2, 2012 5:53pm
Quoting 5percent
This is to teach them to set trade to BE, and to always trail profits! or take % of it, money is only yours when you banked them not in trading margin.
Yes. I think the drop was caused by his speech saying something like "we will do something but NOT RIGHT NOW"

He already was under pressure by his strong remark the other day "whatever it takes, belevie me that will be enough".

Those are just words that mean nothing and the market was waiting for him to back up his words with substance, which he did not.

I guess he has not the authority to change anything and he was just bluffing to give the Spanish and Italian bonds spreads a bit of a relief.

Not sure....
"Men who can both be right and sit tight are uncommon."
  • #674,712
  • Aug 2, 2012 6:11pm Aug 2, 2012 6:11pm
Quoting 2046
...Unless indications change we won't go very far from here until ECB meeting tomorrow. Until then I'd expect a little bullish retrace for which I will look at PA around levels that are on this chart since Sunday. Everybody is waiting for signals from the ECB after Draghi made supportive comments. That has raised the expectations recently which is not likely to change until the direction is clear.. from there again nobody knows what to expect with a spectrum from glorious(unlikely) to desastrous(slightly less unlikely) with a lot of grey matter...
yesterdays chart...
Attached Image (click to enlarge)
Click to Enlarge Name: 120801_eu_h1_2030.gif Size: 27 KB


...and how it played out
Attached Image (click to enlarge)
Click to Enlarge Name: 120802_eu_m15_2030.gif Size: 23 KB


levels covered entire range of the day.
everyone should have managed to make a few pips today, it could not be much easier. eyes on US data tomorrow from NFP change, unemplyment and PMI. Apart from that the Euro is set to extend its weakness
  • #674,713
  • Aug 2, 2012 6:15pm Aug 2, 2012 6:15pm
When plotting a FIB is it better to use A, B or both?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd2.jpg Size: 118 KB
  • #674,714
  • Aug 2, 2012 6:17pm Aug 2, 2012 6:17pm
Quoting 2046
yesterdays chart...
Attachment

...and how it played out
Attachment

levels covered entire range of the day.
everyone should have managed to make a few pips today, it could not be much easier. eyes on US data tomorrow from NFP change, unemplyment and PMI. Apart from that the Euro is set to extend its weakness
Nice. Spot on.
"Men who can both be right and sit tight are uncommon."
  • #674,715
  • Aug 2, 2012 6:24pm Aug 2, 2012 6:24pm
I Sold EURUSD yesterday @ 1.2298 placed by ST @ 1.2395 and expected that it wont reach there before dropping to 1.222.
I was pretty sure that it would be a great gain ... when I walk up .. I was happy to see the price below 1.222 .. checked my balanced with a loose of $500.
It hit my ST and then went down leaving me out
  • #674,716
  • Aug 2, 2012 6:31pm Aug 2, 2012 6:31pm
Well, myself I was not meant to trade yesterday by I felt the pulse and I went in buying the cable.

http://www.forexfactory.com/showthre...60#post5897060

I made 76 pips in less than 3 hours, but I could have made 100 but I am not perfect. My older son says to me: "Papa' do not worry, nobody is perfect, specially you".

It is Friday, I am keen to reward myself, I off to town to have lunch with my mates and girl, dressed in one of my handmade Italian suit. Ciao.
"Men who can both be right and sit tight are uncommon."
  • #674,717
  • Aug 2, 2012 6:32pm Aug 2, 2012 6:32pm
Quoting sdcasper
When plotting a FIB is it better to use A, B or both?
Fib's are drawn from top to bottom, A in your charts
New voice message: Why are you calling me? If I need you, I'll call you!
  • #674,718
  • Aug 2, 2012 6:42pm Aug 2, 2012 6:42pm
Quoting maraghi
I Sold EURUSD yesterday @ 1.2298 placed by ST @ 1.2395 and expected that it wont reach there before dropping to 1.222.
I was pretty sure that it would be a great gain ... when I walk up .. I was happy to see the price below 1.222 .. checked my balanced with a loose of $500.
It hit my ST and then went down leaving me out
Yesterday was more like gambling in my view. Take it as a lesson. All good thing have a price that you need to pay for.
"Men who can both be right and sit tight are uncommon."
  • #674,719
  • Aug 2, 2012 6:48pm Aug 2, 2012 6:48pm
Quoting Mike8
Yesterday was more like gambling in my view. Take it as a lesson. All good thing have a price that you need to pay for.
It's happened to me many times only using a dynamic stop. i only use this method when i go to sleep as the london session is in the middle of the night for me.

I will wake to see the market 60 pips in my favor, but five hours earlier the market retraced to my entry just enough to give me a +/- 1.4 pips, rather then the 60 pips I clearly should have.
  • #674,720
  • Aug 2, 2012 6:51pm Aug 2, 2012 6:51pm
Quoting maraghi
I Sold EURUSD yesterday @ 1.2298 placed by ST @ 1.2395 and expected that it wont reach there before dropping to 1.222.
I was pretty sure that it would be a great gain ... when I walk up .. I was happy to see the price below 1.222 .. checked my balanced with a loose of $500.
It hit my ST and then went down leaving me out
What you can learn here is this:
It's never good to place a stop right under a round number, like 1.2400,
Round numbers are targets and a little overshoot is normal.
1.2420 would be a better place for a stop.
But with $5 per pip, I would never have such big sl, especially with such major news coming up.
New voice message: Why are you calling me? If I need you, I'll call you!
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