Heya all, I’m new here. I’ve been lurking for a looong time now (my bookmark still refers to page 264) and finally decided to register.
I didn’t start out in forex. I got drawn into the markets back in 2010, when I became aware of the silver bull. I made a few thousand buying and selling silver ETF’s, and then lost a few thousand when it all crashed and burned. It was good fun and a great learning experience
After that I started to actually read up on technicals, fundamentals, trading in general, trading psychology, etc; read about 5-10 books, various websites, paper traded for a bit, and then returned to the markets. I dabbled about a bit in general stocks, but got really annoyed with cash account limitations. Finally I switched to Forex and have been day-trading EUR.USD for a few weeks now and I’m enjoying the hell out of it.
I love problem-based work, and on forex every day is a new puzzle. It’s so much fun to just learn new stuff every day and get a better and better grasp of where things go and why. Anyway, I’m glad I finally registered, and hope to have a fun time here.
Now, for a graph. I went long this morning thinking that we’d just resume our uptrend after this dip. It was ill-timed, too early and shallow for a real dip, and I didn’t take into account the bearish divergences I’m seeing on the 1 hourly. So I reversed my position and I’m now short since 1.2967. The market was long overdue for a healthy correction. If we’re reversing, yay to that too. I'm just wondering how reliable are bearish/bullish divergences in forex/EUR.USD, and how much of an effect should I expect?
http://i.imgur.com/X3ylb.gif
I didn’t start out in forex. I got drawn into the markets back in 2010, when I became aware of the silver bull. I made a few thousand buying and selling silver ETF’s, and then lost a few thousand when it all crashed and burned. It was good fun and a great learning experience
After that I started to actually read up on technicals, fundamentals, trading in general, trading psychology, etc; read about 5-10 books, various websites, paper traded for a bit, and then returned to the markets. I dabbled about a bit in general stocks, but got really annoyed with cash account limitations. Finally I switched to Forex and have been day-trading EUR.USD for a few weeks now and I’m enjoying the hell out of it.
I love problem-based work, and on forex every day is a new puzzle. It’s so much fun to just learn new stuff every day and get a better and better grasp of where things go and why. Anyway, I’m glad I finally registered, and hope to have a fun time here.
Now, for a graph. I went long this morning thinking that we’d just resume our uptrend after this dip. It was ill-timed, too early and shallow for a real dip, and I didn’t take into account the bearish divergences I’m seeing on the 1 hourly. So I reversed my position and I’m now short since 1.2967. The market was long overdue for a healthy correction. If we’re reversing, yay to that too. I'm just wondering how reliable are bearish/bullish divergences in forex/EUR.USD, and how much of an effect should I expect?
http://i.imgur.com/X3ylb.gif