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  • #701,241
  • Oct 2, 2012 6:26am Oct 2, 2012 6:26am
Quoting terryjones
TOld of big investment bank been soaking up all the offers in the eurusd. Do u all think they know something?
Big players always have some king of an edge
go go go
  • #701,242
  • Oct 2, 2012 6:26am Oct 2, 2012 6:26am
Quoting SupraSense
How many would be better off just picking a direction, with the longer term trend, and trading only that way? Probably most.
Easier said than done.

How do you know what the "longer term trend" is? It's ALWAYS changing. You could have three days of a downtrend followed by a huge surge to the upside.

Can you tell me what that trend is right now?

The market is always switching between up and down, consolidation, and unexpected fakeouts on every time frame.

It does not move in a line, and most of the time, the "longer term trend" cannot be identified except in HINDSIGHT.

The only time it is a no-brainer is when the market sentiment is clear, but that only happens 25-30% of the time. The rest of the time, trading is nothing more than GAMBLING, no matter what some idiots will try to argue.
  • #701,243
  • Oct 2, 2012 6:28am Oct 2, 2012 6:28am
Quoting StopGuessing
100 a day keeps the 9 to 5 away. especially in a third world country.
you got to learn to crop your pictures - way too much white space
  • #701,244
  • Oct 2, 2012 6:31am Oct 2, 2012 6:31am
Quoting SupraSense
Pros and Cons there. Yes ideally, just go with the market. But with that there's some danger. Plenty of new traders will get emotional, end up buying the high, selling the low, and losing more than an entire day's range trying to follow it. How many would be better off just picking a direction, with the longer term trend, and trading only that way? Probably most.
That is just it. That is what most do. They pick a direction, and end up following short, which is why so many trades end up redepositing. How many people go with a direction, then end up saying I want a tp of 300 points. After a month it moves in their direction and they have about 210 point profit and never book it, then the retrace comes, and they keep adding, and adding, and adding. Remember when eur gave us this nice push to 13165 so many people were shorting into the run up. Saying it was a trap. Now that we had a pull back, even more reason to short. Yet the price is slowly starting to head back to 1.30

My point is look at your options. Do you think big banks INVEST? Do you think they buy at 1.23 and wait to sell at 1.30 No freaking way. They scalp the market in order to cause the action we see day in and day out. If they simply invested, the market would be a flat line because their is no new volume coming into the market. You make more money scalping to 1.30 from 1.23 if then just investing. Scalping is the key to this market.
He who guess is LOST!
  • #701,245
  • Oct 2, 2012 6:34am Oct 2, 2012 6:34am
Quoting MaxDoom
you got to learn to crop your pictures - way too much white space
Any suggestion on how to do so?
He who guess is LOST!
  • #701,246
  • Oct 2, 2012 6:35am Oct 2, 2012 6:35am
testing the second channel from the top....then up...
  • #701,247
  • Oct 2, 2012 6:38am Oct 2, 2012 6:38am
if hourly bar cant go higher then 2928 new fractal will be printed and actual broken chanel dissmiss

Quoting stevewalker
5 15 min lower channels broken
  • #701,248
  • Oct 2, 2012 6:39am Oct 2, 2012 6:39am
Quoting kibescorp
Easier said than done.

How do you know what the "longer term trend" is? It's ALWAYS changing. You could have three days of a downtrend followed by a huge surge to the upside.

Can you tell me what that trend is right now?

The market is always switching between up and down, consolidation, and unexpected fakeouts on every time frame.

It does not move in a line, and most of the time, the "longer term trend" cannot be identified except in HINDSIGHT.

The only time it is a no-brainer is when the market sentiment is clear, but that only happens...
Of course as you say, trend depends on your own definition of it, the timeframe you're looking at etc. The point is not that there is a 'correct' trend. There's no such thing. But that for a new trader, I believe they would be better off deciding on a trend direction, based on a longer term move, daily or weekly trend, and going in that direction.

Not that it matters much, but for me the daily trend is down, and has been since Sep 20. The even longer term trend is up.

For a new trader it is better, imo, to have a plan what to do and when to do it and in what direction, than to be undecided and just go with the flow. A new trader can't pick up the flow, and is unlikely to find a good entry even if they could.
  • #701,249
  • Oct 2, 2012 6:39am Oct 2, 2012 6:39am
I have a H1 chart for anyone seeking a intraday possibility to short.
Only enter sell position after a clear,strong rejection at the channel's resistance.
We can see that the price is currently testing the channel resistance and SMA200.

Overall , im bearish on the pair, but there is a possibiliy that the price can go as high as 1.3100s to form a Double Top (H4, Daily).
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd h1 02.10.2012.jpg Size: 104 KB
  • #701,250
  • Oct 2, 2012 6:40am Oct 2, 2012 6:40am
No point to trade now. Algos are competing for 5-10 pips.

Sniffing price levels where they may overcome small orders both ways.

I know what is exactly going but cant even scalp this crap without taking losses.
They think they are smarter than I am.
  • #701,251
  • Oct 2, 2012 6:40am Oct 2, 2012 6:40am
anyone put any longs on EJ?

Long @ 100.94
SL 10 pips
  • #701,252
  • Oct 2, 2012 6:41am Oct 2, 2012 6:41am
This was done all by scalping. Noy by GUESSING or trying to rationalize a losing position with deflecting.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: withdraw2.JPG Size: 97 KB
Click to Enlarge Name: withdraw3.JPG Size: 97 KB
He who guess is LOST!
  • #701,253
  • Oct 2, 2012 6:42am Oct 2, 2012 6:42am
Quoting StopGuessing
That is just it. That is what most do. They pick a direction, and end up following short, which is why so many trades end up redepositing. How many people go with a direction, then end up saying I want a tp of 300 points. After a month it moves in their direction and they have about 210 point profit and never book it, then the retrace comes, and they keep adding, and adding, and adding. Remember when eur gave us this nice push to 13165 so many people were shorting into the run up. Saying it was a trap. Now that we had a pull back, even more reason...
very true. Some traders use one account for scalping, and another for longer duration trades. There is merit to both approaches, as well as the disadvantages you cite.
"The market can remain irrational longer than you can remain solvent"
  • #701,254
  • Oct 2, 2012 6:44am Oct 2, 2012 6:44am
Quoting StopGuessing
Any suggestion on how to do so?
do your print screen button

open Paint
paste it into paint
select the area you want to keep
press CROP
save picture
  • #701,255
  • Oct 2, 2012 6:44am Oct 2, 2012 6:44am
Quoting StopGuessing
Any suggestion on how to do so?
i use paint...



simple as print screen, ctrl v
Be hopeful in a winning position, and fearful in a losing position.
  • #701,256
  • Oct 2, 2012 6:46am Oct 2, 2012 6:46am
Quoting MaxDoom
do your print screen button

open Paint
paste it into paint
select the area you want to keep
press CROP
save picture
Doras voice WE DID IT!
He who guess is LOST!
  • #701,257
  • Oct 2, 2012 6:46am Oct 2, 2012 6:46am
Quoting StopGuessing
That is just it. That is what most do. They pick a direction, and end up following short, which is why so many trades end up redepositing. How many people go with a direction, then end up saying I want a tp of 300 points. After a month it moves in their direction and they have about 210 point profit and never book it, then the retrace comes, and they keep adding, and adding, and adding. Remember when eur gave us this nice push to 13165 so many people were shorting into the run up. Saying it was a trap. Now that we had a pull back, even more reason...
Not that I disagree that people do that. But if you're determining the success or failure of a general principle based on people not using stops, making bad entries and adding to losers, then pretty much every way of trading is going to lose. Not having tight stops and adding to losers will destroy most accounts quite quickly.

Personally I trade both long and short. But that doesn't mean I don't see pros and cons. If you're like me, you've been in plenty of situations where you've entered long, good entry, took some profit, seen a signal and gone short, only for it to continue going up. If your view was to be only long, you might still be in the long move. If you're bi-directional, then if you're really great at trading, you'll do better. If you're a novice, i don't think you will.
  • #701,258
  • Oct 2, 2012 6:47am Oct 2, 2012 6:47am
Quoting Rag2RichesFX
i use paint...



simple as print screen, ctrl v
That is exactly what I do rag. Yet it keeps giving me white space. Yet when I print screen my withdrawals it came out nice a big.
He who guess is LOST!
  • #701,259
  • Oct 2, 2012 6:49am Oct 2, 2012 6:49am
Quoting StopGuessing
This was done all by scalping. Noy by GUESSING or trying to rationalize a losing position with deflecting.
Doesn't moneybookers take a large % of that when withdrawing or depositing?

Would be much cheaper to use a bank wire and do it all at once
Be hopeful in a winning position, and fearful in a losing position.
  • #701,260
  • Oct 2, 2012 6:52am Oct 2, 2012 6:52am
Quoting SupraSense
Not that I disagree that people do that. But if you're determining the success or failure of a general principle based on people not using stops, making bad entries and adding to losers, then pretty much every way of trading is going to lose. Not having tight stops and adding to losers will destroy most accounts quite quickly.
Very well said... I remember 2 weeks ago when EUR reached 13165 someone mentioned he was buying at that level because the trend was up. Although at the time he bought it had retraced about 30 points from his entry The following week eur retraced 300 points from his entry. I am pretty certain he has added more Long positions, yet the reality is he is in red big time. That was for following THE TREND, and using high time frames.
Everyone knows I am bias to only using 1m time frames. I mean it works really well for me. Although many people have claimed I will crash and burn, the reality is that I have withdrawn more then what they have deposited. I see things which many people over look, and I am willing to wait 2 hours to take a position if need be.
He who guess is LOST!
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