It's seem quite sure the tobin tax is going to be introduced in Europe, GB exluded, at the beginning of the 2013. This could reduce the forex and derivates transactions till the 80% if the tax will be globally extended. Are you ready to change job? 
- #6,002
- Oct 22, 2012 4:07am Oct 22, 2012 4:07am
- | Joined May 2011 | Status: Just Call me Oli | 631 Posts
Just flip between time frames
Oli......you missed out on the 6000th post!!!
- #6,004
- Oct 22, 2012 4:12am Oct 22, 2012 4:12am
- | Joined May 2011 | Status: Just Call me Oli | 631 Posts
It's seem quite sure the tobin tax is going to be introduced in Europe, GB exluded, at the beginning of the 2013. This could reduce the forex and derivates transactions till the 80% if the tax will be globally extended. Are you ready to change job?
I doubt very much that this will affect individuals like you & me and our trading accounts; this is a transaction tax designed for big financial institutions.
But I assume this is not the place for such a discussion.
- #6,010
- Oct 22, 2012 4:42am Oct 22, 2012 4:42am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Just closed both trades, I'm up over 60 already today! I think I may call it a day and go back to sleep!
Doing what you like is Freedom. Liking what you do is Happiness.
EU is in up trend from the morning. It has made HLs and HHs till R1. Then It has fallen below daily pivot. Price has made LL and... you have entered long.
Is it HPT? I am asking all of thread reades not only Jandre (congrats winning trade).
As attachment M15 screen with clearly Down trend from few days
Am I in the right track?
- #6,014
- Oct 22, 2012 5:06am Oct 22, 2012 5:06am
- Joined Sep 2012 | Status: Beam me up, Scotty | 1,531 Posts
I am a fallible imperfect person; so I must be a fallible imperfect trader.
- #6,015
- Edited 5:34am Oct 22, 2012 5:32am | Edited 5:34am
- | Joined Jul 2010 | Status: Trader | 178 Posts
I was just going to ask were these proper genesis signals since I saw them both as a counter trend trades + in the latter the H1 stoch was falling from overbought.
Am I in the right track?
Caveat: newbie
- #6,016
- Oct 22, 2012 5:47am Oct 22, 2012 5:47am
- | Joined May 2011 | Status: Just Call me Oli | 631 Posts
EU is in up trend from the morning. It has made HLs and HHs till R1. Then It has fallen below daily pivot. Price has made LL and... you have entered long.
Is it HPT? I am asking all of thread reades not only Jandre (congrats winning trade).
As attachment M15 screen with clearly Down trend from few days
I was just going to ask were these proper genesis signals since I saw them both as a counter trend trades + in the latter the H1 stoch was falling from overbought.
Am I in the right track?
---> really good support in that area + BRN nearby
---> at least you've got to start thinking that maybe the downtrend could be over when repeated attempts at going lower have failed
---> nothing wrong with considering a Long trade then (green line) when you get a Genesis signal + price is above the consolidation area + also above DP because ... today's DP coincide exactly with Friday highest retracement up at 1.3036 (blue arrow)
Profitpips, bear in mind that the H1 Stox location/direction is not part of core-Genesis trading! I know that I mention it often (maybe I should stop?) but I use it in a discretionary manner in the same way that I use a lot of other stuff. I don't think that I have not taken a trade if the H1 Stox location/direction is the only negative point in the whole setup.
Profitpips, bear in mind that the H1 Stox location/direction is not part of core-Genesis trading! I know that I mention it often (maybe I should stop?) but I use it in a discretionary manner in the same way that I use a lot of other stuff. I don't think that I have not taken a trade if the H1 Stox location/direction is the only negative point in the whole setup.
- #6,018
- Oct 22, 2012 6:02am Oct 22, 2012 6:02am
It's seem quite sure the tobin tax is going to be introduced in Europe, GB exluded, at the beginning of the 2013. This could reduce the forex and derivates transactions till the 80% if the tax will be globally extended. Are you ready to change job?
#2 Currencies will still move, but maybe different or less pips. Or even more pips as with less money in the markets, fewer players can have a bigger impact. Maybe it will become much harder to "predict" something?
#3 Switch to commodities if really everything sucks
- #6,019
- Oct 22, 2012 6:21am Oct 22, 2012 6:21am
Iwan, yes EU was in a downtrend (yellow arrows) but it was punctuated by consolidation areas (yellow boxes) + in the last one, price tried at least 8-9 times to breach the 1.3010/20 area but didn't succeed:
After last week when i have impresion that i started to understand this system , now i feel i know nothing at all and i am not able to earn 5 pips a day with this system. It is sad but true. Maybe it is time to give up
- #6,020
- Oct 22, 2012 6:25am Oct 22, 2012 6:25am
Thanks Oli for clear answer. How easy trading could be if U were sitting next to me and showing all this things on chart to me.
After last week when i have impresion that i started to understand this system , now i feel i know nothing at all and i am not able to earn 5 pips a day with this system. It is sad but true. Maybe it is time to give up