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  • #732,061
  • Dec 13, 2012 1:03pm Dec 13, 2012 1:03pm
Quoting staffpro1
Twitter says when obama and Boner announce a deal later today about the fiscal cliff, they will increase federal spending to 300 billion/month which will send EURUSD to 1.33
Is that double tripple...??? Don't let Gator see what you just posted... Or FXNav, he hates anyone who brings twitter news over here...
  • #732,062
  • Dec 13, 2012 1:04pm Dec 13, 2012 1:04pm
Quoting staffpro1
Twitter says when obama and Boner announce a deal later today about the fiscal cliff, they will increase federal spending to 300 billion/month which will send EURUSD to 1.33
this is the speculation crap that screws the newbies. nothing here is fact.
those who can, do. those who cant, talk about those who can
  • #732,063
  • Dec 13, 2012 1:08pm Dec 13, 2012 1:08pm
Quoting FX Wolf
i'll keep my position if closed above 526
aus/usd bounced back up lets see the close above 526 or below 526
Wolves don't lose any sleep over the opinion of the sheep.
  • #732,064
  • Dec 13, 2012 1:09pm Dec 13, 2012 1:09pm
Quoting gatorinla
this is the speculation crap that screws the newbies. nothing here is fact.
Not his speculation only, who's playing on a 1M and 5M probably is about to be slaughtered - seeing in his small time frame the bottom at 1.30500 and the sky at 1.30900 thinking what IF it can go higher !

I wouldn't be surprised next week we can questions like " Do you think the Euro will come back to 1.31 , my account is about to have a margin call"!
"It's the Margin, Stupid."
  • #732,065
  • Dec 13, 2012 1:12pm Dec 13, 2012 1:12pm
Quoting gatorinla
this is the speculation crap that screws the newbies. nothing here is fact.
DUDE! The internet is pure truth......:nerd:

Sorry couldn't resist, just watched Transformers 2 again. heheheheh

BTW: Great advice you gave to FX Wolf about scalping. It's a whole different world from how most feel comfortable trading.
  • #732,066
  • Dec 13, 2012 1:15pm Dec 13, 2012 1:15pm
Quoting FX Wolf
hi Gator i see daily close above 3076 is bullish if closed below i will close all position and wont short because of freaking friday coming

i will stay out
thats a plan..
just looking for clues

Inserted Video
Attached Image (click to enlarge)
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those who can, do. those who cant, talk about those who can
  • #732,067
  • Dec 13, 2012 1:20pm Dec 13, 2012 1:20pm
Quoting Vachus
Not his speculation only, who's playing on a 1M and 5M probably is about to be slaughtered - seeing in his small time frame the bottom at 1.30500 and the sky at 1.30900 thinking what IF it can go higher !

I wouldn't be surprised next week we can questions like " Do you think the Euro will come back to 1.31 , my account is about to have a margin call"!
i wish they did have a deal.. it would be just one less thing to distort techs..
those who can, do. those who cant, talk about those who can
  • #732,068
  • Dec 13, 2012 1:22pm Dec 13, 2012 1:22pm
i'm learning losing much money! not good...but maybe the only way to understand something!!
  • #732,069
  • Dec 13, 2012 1:23pm Dec 13, 2012 1:23pm
Quoting gatorinla
thats a plan..
just looking for clues

https://www.youtube.com/watch?v=H8ocviQ3ux0
i have just talked to my mentor he says you(me) are right if daily closes above 3076 keep it with 3040ish in mind as possible downside
Wolves don't lose any sleep over the opinion of the sheep.
  • #732,070
  • Dec 13, 2012 1:25pm Dec 13, 2012 1:25pm
Quoting EuroTrader
What you mean by scalping? What time frame you have in mind? 5min, 15min, 30min, 1h?
I've been following this discussion and thought I'd come out of the closet. I'm not proud of it but I am a scalper, and by scalper I mean trading out of the 1min/5min charts and using 30min and 1H charts for momentum bias as someone else a daily or weekly would use.

The reason I've developed this style is because I just can't take drawdown, and I hate to see a position move against me. As a very wise trader wrote here this morning, his goal is not to lose money, and if he pays attention to that his profit will come automatically. Very true, and I don't lose money. Well at least not in big chunks like some traders I know.

My MM is based on a very small account, and I scalp with a very small position size: two 10K lots max. which gives ms a pip price of 1.53€ at the moment. The math is pretty simple: I make between 30 to 40 trades a day and have a 3:1 win/loss balance where wins are between 6-10 pips and losses are capped at 5 (including spread) pips or less.

Sometimes I get into a solid move and can pull 15-20 pips off the table, but if a trade doesn't "feel" right I'll close it immediately. Even if I sometimes claim (to myself, so I think that I'm really a trader...) to have a plan over entry or exiting, I prefer to use my eyes and fingers.

Sounds like fun? Forget it! For me scalping is a byproduct of my weaknesses.

Scalping also has a nasty side effect for me, if I get into a 100 pip falloff like last weeks Euro drop, I'll leverage up like everybody else, and then almost piss my pants every time pa bounces 5-6 pips in the wrong direction towards my trailing stop. I hate the way I trade, but somehow it works for me. Maybe after another 5 years of doing this I'll get it right.

Sorry for writing a book, but I needed to get that off my chest, and don't PM me about how I do it, I'm not a guru.
  • #732,071
  • Dec 13, 2012 1:26pm Dec 13, 2012 1:26pm
Quoting gatorinla
i wish they did have a deal.. it would be just one less thing to distort techs..
Well i hate to tell you this , but i don't think a deal is possible ... i had my doubts , but after the FED announcements i'm almost almost certain that a deal will not be reached ! But as always , you can be sure of these things .Unfortunately, i could have stayed to watch - if only i was long from 1.28850 , but i', not
"It's the Margin, Stupid."
  • #732,072
  • Dec 13, 2012 1:29pm Dec 13, 2012 1:29pm
Quoting magnumfreak
DUDE! The internet is pure truth......:nerd:

Sorry couldn't resist, just watched Transformers 2 again. heheheheh

BTW: Great advice you gave to FX Wolf about scalping. It's a whole different world from how most feel comfortable trading.
hii magnum how are you senior!!
Wolves don't lose any sleep over the opinion of the sheep.
  • #732,073
  • Dec 13, 2012 1:29pm Dec 13, 2012 1:29pm
Quoting valent1ne
I'm planning to move anyway, as they seem to hunt stop-losses anyway. No ideea where to go, but i dont have enough funds to open a DMA account (need at last 20k). Thanks for the advice.


So far, any objective view regarding our conversation would point that the muppet is somewone else. But it's ok, im not here to stay, i'm here just to open some eyes as you can see in my last post - i'm telling to the people who really are the muppets who destroy the trading forums.


Please excuse me for not having lots and lots of money to start trading...
Jesus dude. You are one argumentative ass

If you we're half the pro trader you claim you wouldn't be out of a job without 20k to open an account

And you wouldn't be using mt to trade from

So if you worked for a bank you were either crap and got sacked or the tea lady


Seems you want to gain respect by picking crap with others.

Get real
  • #732,074
  • Dec 13, 2012 1:31pm Dec 13, 2012 1:31pm
Quoting Vachus
Well i hate to tell you this , but i don't think a deal is possible ... i had my doubts , but after the FED announcements i'm almost almost certain that a deal will not be reached ! But as always , you can be sure of these things .Unfortunately, i could have stayed to watch - if only i was long from 1.28850 , but i', not
There is good possibility to see pa lower than this don't worry
  • #732,075
  • Dec 13, 2012 1:34pm Dec 13, 2012 1:34pm
Quoting FX Wolf
i have just talked to my mentor he says you(me) are right if daily closes above 3076 keep it with 3040ish in mind as possible downside
interestingly if you notice for last 20 mins or so prices are stuck between 3075/76 open the 1 min chart and scalp 1 pip buy 3075 sell 3076 and repeat this over and over and over and over again
Wolves don't lose any sleep over the opinion of the sheep.
  • #732,076
  • Dec 13, 2012 1:39pm Dec 13, 2012 1:39pm
Shit, I missed that.. I think 20K was what I lost in the first weeks of trading..
Quoting MaxDoom
Jesus dude. You are one argumentative ass

If you we're half the pro trader you claim you wouldn't be out of a job without 20k to open an account

And you wouldn't be using mt to trade from

So if you worked for a bank you were either crap and got sacked or the tea lady


Seems you want to gain respect by picking crap with others.

Get real
  • #732,077
  • Dec 13, 2012 1:40pm Dec 13, 2012 1:40pm
Quoting FX Wolf
interestingly if you notice for last 20 mins or so prices are stuck between 3075/76 open the 1 min chart and scalp 1 pip buy 3075 sell 3076 and repeat this over and over and over and over again
Try to observe the lone us session and early asian market more. Be wary of japan opening session as well. Price momentum and behavior dont neccessary be the same all the time. I prefer to scalp in volaility with a good rr. Compared to slow movements.

For one pip tp. I would use a reliable scalping ea to trade such session. U can doze off seeing that movement or u might think to tp 2-3 pip. Then u miss ur 1 pip tp. Price move against u next. Try the demo or smaller lot size in live till u get the feel of it. Scalping is not that simple as well. Bc a scalper should be picky in his entry and exit fast. Any trade longrr than 5 min is not scalping yo me.
I prefer to scalp after the london breakout trend is known. Or through fibo if we have a range. Us session is hard for scalp sometimes in heavy fundamental releasr period. U dont want to gain 1 pip to be caught umderwater the next few min in breakout bc of a new that xaused trend change or volaility. U dont want to hit a stoploss of 7-12 pip for 1 pip gain as well. U might need to figure out what kind of scalping trading plan suits u.
  • #732,078
  • Dec 13, 2012 1:41pm Dec 13, 2012 1:41pm
Quoting FX Wolf
hii magnum how are you senior!!
Doing very well. Normally I don't hang around here much but my plane is in the shop getting the engine rebuilt and an annual inspection so I have been hanging out a bit these last few weeks.

I was thinking the other day how much I envy you. You are being taught skills that when properly applied will free you from the burden of having to rely on others for income (a.k.a. a job). I had to figure out all of this craziness on my own. You have a solid mentor in your dad based on what I am seeing from your posts. When you get a chance, give him a high five from me for taking the time to show you how to trade.

Hope things are going well for you.
  • #732,079
  • Dec 13, 2012 1:44pm Dec 13, 2012 1:44pm
Quoting egkid
There is good possibility to see pa lower than this don't worry
There is a clear bearish sentiment allover the thread , still its not going down ... which either means : You are missing something , or we are reading the wrong input ! ( I'm speaking a bit Midterm )
"It's the Margin, Stupid."
  • #732,080
  • Dec 13, 2012 1:44pm Dec 13, 2012 1:44pm
junkiess
im off
orders out later
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