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  • #691,961
  • Sep 13, 2012 8:11pm Sep 13, 2012 8:11pm
Quoting almo
Its overdue for a retrace...I'm thinking about 80 pips, but then...?

This is one of those times where is probably best to be flat by the end of London.
To be honest last night emotions got over me, mr Fear came to play, my account was showing more then 140% gain in 7 days, I knew I was right and I should have stayed in, my SL's were over 100 pips and in profit of the some amount.

I turned off the computer and I went to bed, but then Mr Fear came to play, I knew he was trying to freak me out, my profits were good and he was suggesting that I was going to lose half of my gain.

I got back down again, I started the computer and covered with 120% profit.

If I did not..... well that is another story.

I would like to say this because in my view trading is not about setups but about much more......
"Men who can both be right and sit tight are uncommon."
  • #691,962
  • Sep 13, 2012 8:12pm Sep 13, 2012 8:12pm
RSI on daily is way way overbought, 1.30 is a psychological level.
I would be really surprised to find buyers above 1.30...
  • #691,963
  • Sep 13, 2012 8:13pm Sep 13, 2012 8:13pm
Quoting Mike8
Just come back from the Gym.

Thanks for you comment. I would not take offence on somebody else view.
Different views and perceptions respecting the others does make this thread interesting.

If you are right, that means that I covered my profit nearly at the top. To be honest now I want her to go down.
I am with you. But the issue with Stocs is that they cannot defined boundary (overbought / oversold) or assure continuance. This shit can go 1000 more pips before showing a decent retrace.................... like it has been doing once every year, for the past few years.
The Thief of Wall Street
  • #691,964
  • Sep 13, 2012 8:15pm Sep 13, 2012 8:15pm
Quoting Mike8
To be honest last night emotions got over me, mr Fear came to play, my account was showing more then 140% gain in 7 days, I knew I was right and I should have stayed in, my SL's were over 100 pips and in profit of the some amount.

I turn off the computer and I went to bed, but then Mr Fear come to play, I new he was trying to freak me out, my profits were good.

I got back down again start the computer and covered with 120% profit.

If I did not..... well that is another story.

I would like to say this because in my view trading is not...

I too suffered this.....I was flat until after the announcement. There was just no way for me to consider risking all the profit with a huge SL. And honestly, I was not expecting QE3 (or whatever you want to call this - its not quite a QE3 IMO).

It certainly suggests another 600 pips to the upside before we have this dance again....
  • #691,965
  • Sep 13, 2012 8:18pm Sep 13, 2012 8:18pm
Quoting Chicky
Looking at 15M chart, somebody is trying to do what JP Morgan did few months ago. However, this time, outcome could be different. Who knows.
Could you share what happened?
2 recipes for forex failures: Greed + Fear
  • #691,966
  • Sep 13, 2012 8:22pm Sep 13, 2012 8:22pm
Quoting Chicky
I am with you. But the issue with Stocs is that they cannot defined boundary (overbought / oversold) or assure continuance. This shit can go 1000 more pips before showing a decent retrace.................... like it has been doing once every year, for the past few years.
Geez Chicky.....we've almost reached 1000 pips since the bottom. I can't imagine another 1000 without some intervention from either ECB or the Fed. It would just create chaos if it grew that fast. EZ would likely lose any chance of fixing their issues, not to mention the US would experience inflation that would be soul crushing.
  • #691,967
  • Sep 13, 2012 8:22pm Sep 13, 2012 8:22pm
Quoting Chicky
I am with you. But the issue with Stocs is that they cannot defined boundary or assure continuance. This shit can go 1000 more pips before showing a decent retrace.................... like it has been doing once every year, for the past few years.
Yes, anything can happen from now on, hysteria is at his peak and nobody knows what really will happen.

That it is why is best to enter with a huge SL in my view to test and have a feel, then the ability to be nimble in entering further entries will make the difference between one trader and another.
"Men who can both be right and sit tight are uncommon."
  • #691,968
  • Sep 13, 2012 8:30pm Sep 13, 2012 8:30pm
Quoting almo
I too suffered this.....I was flat until after the announcement. There was just no way for me to consider risking all the profit with a huge SL. And honestly, I was not expecting QE3 (or whatever you want to call this - its not quite a QE3 IMO).

It certainly suggests another 600 pips to the upside before we have this dance again....
Yes, there is point tough to obsess on something after the facts like I did.

That is not trading in my view , a good trader acts, does not think much, when he is wrong he moves on, when he is right he goes to purchase the latest Lamborghini. LOL

Anyway congratulation for your winning, I knew you were on the right side.

But I would like only to say this:"Men who can both be right and sit tight are uncommon."
"Men who can both be right and sit tight are uncommon."
  • #691,969
  • Sep 13, 2012 8:36pm Sep 13, 2012 8:36pm
Quoting divak
RSI on daily is way way overbought, 1.30 is a psychological level.
I would be really surprised to find buyers above 1.30...
Retail is short, until it reverses we will continue north.
  • #691,970
  • Sep 13, 2012 8:37pm Sep 13, 2012 8:37pm
Quoting Sonofsin5
Retail is short, until it reverses we will continue north.
I'm pretty sure your going to see retail switching sides after today.
  • #691,971
  • Sep 13, 2012 8:45pm Sep 13, 2012 8:45pm
New high in Asia, doesn't happen very often
New voice message: Why are you calling me? If I need you, I'll call you!
  • #691,972
  • Edited 9:03pm Sep 13, 2012 8:52pm | Edited 9:03pm
Quoting Chicky
I am with you. But the issue with Stocs is that they cannot defined boundary (overbought / oversold) or assure continuance. This shit can go 1000 more pips before showing a decent retrace.................... like it has been doing once every year, for the past few years.
There is system by Jake Bernstein called "the Stocs pop".

The idea is to buy when prices cross above 80 and take partial profits at the cross of the averages and the remaining when cross back below 80.

Also for what I understand stoch works better in ranging markets, not in trending. I do not use it tough, actually I do not use any indicators.
"Men who can both be right and sit tight are uncommon."
  • #691,973
  • Sep 13, 2012 8:57pm Sep 13, 2012 8:57pm
Quoting diasilzan
Hi ahmad37,

Please load the attached files and at to your mt4...
Hi Diasilzan

Kindly I down load the one file but other is coming error, please send this one again, (2008 PIVOT.ex4 (20.9 KB, 13 views), after installation other file my MT4 showing only Pivot point and S1, line, only,
please waiting your reply,

regards,
  • #691,974
  • Sep 13, 2012 8:57pm Sep 13, 2012 8:57pm
Quoting KillerWhale
New high in Asia, doesn't happen very often
the dumb monkeys in china, still buying after 1.30...lol
  • #691,975
  • Sep 13, 2012 8:58pm Sep 13, 2012 8:58pm
Quoting mohan76
copy those file into indicators folder [ MetaTrader -> experts - > indicators ]

restart your mt4 , attach it to chart from costume indicators

check this
http://www.youtube.com/watch?v=m-4drCGVmxk
Thanks a lot Mohan,
  • #691,976
  • Sep 13, 2012 8:58pm Sep 13, 2012 8:58pm
We might even close the May 4th gap. LOL.
  • #691,977
  • Sep 13, 2012 9:00pm Sep 13, 2012 9:00pm
Quoting divak
the dumb monkeys in china, still buying after 1.30...lol
Why is that dumb?


12 months * 40 billion/month = massive USD Dillution.


Seems to me, you can buy anything vs USD right now, and come back in one year to massive profits.
  • #691,978
  • Sep 13, 2012 9:07pm Sep 13, 2012 9:07pm
asian market with new high, we've already reach 36 pips range.. head up north again or south ?

what do you guys think ?
  • #691,979
  • Sep 13, 2012 9:08pm Sep 13, 2012 9:08pm
Quoting almo
Why is that dumb?


12 months * 40 billion/month = massive USD Dillution.


Seems to me, you can buy anything vs USD right now, and come back in one year to massive profits.
really, where do u stop then? 1.60? 2.50?
  • #691,980
  • Sep 13, 2012 9:13pm Sep 13, 2012 9:13pm
Quoting divak
really, where do u stop then? 1.60? 2.50?
Couldn't tell you - unfortunately, the flip side to all of this is what is going on in the EZ.


Safe bet - 600 pips to the upside.

And......if this QE3 doesn't work.....we could end up breaching the all time high of the Euro.
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