NFP:
- #16,502
- Feb 1, 2013 8:15am Feb 1, 2013 8:15am
- Joined Jan 2010 | Status: Trader | 2,841 Posts
Right with you... Seems like we are opposite... But I will still analyse. Not giving up yet but spot I will give up. And get back to being human.. So looking at 2 trades a week. No more.. And no trades while working... Nights I can't trade
As options won't let me so it's perfect.. I am still here guys 😀
- #16,503
- Feb 1, 2013 8:27am Feb 1, 2013 8:27am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
161.8 negative reached.
- #16,504
- Feb 1, 2013 8:50am Feb 1, 2013 8:50am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
That is why i have been talking about 61.8 - 78.6 fib retrace for entries.
- #16,506
- Feb 1, 2013 10:19am Feb 1, 2013 10:19am
- Joined Jan 2010 | Status: Trader | 2,841 Posts
and btw don't be sorry... i am much happier and i haven't totally quit the markets... just gonna try to sponge money from a different angle that suits my lifestyle
as i say i will still post analysis and opinion when and where i can.. though will be less frequent..
if 1.3710 holds then we could revisit 1.3592.. down to 1.3475... next level above is 1.3771
as i say i will still post analysis and opinion when and where i can.. though will be less frequent..
if 1.3710 holds then we could revisit 1.3592.. down to 1.3475... next level above is 1.3771
- #16,507
- Feb 1, 2013 11:07am Feb 1, 2013 11:07am
- Joined Jun 2010 | Status: zero | 20,603 Posts
and btw don't be sorry... i am much happier and i haven't totally quit the markets... just gonna try to sponge money from a different angle that suits my lifestyle
as i say i will still post analysis and opinion when and where i can.. though will be less frequent..
if 1.3710 holds then we could revisit 1.3592.. down to 1.3475... next level above is 1.3771
Hi Jay,
yes, life is the most valuable thing we do have - makes no sense when trading, so to say, gets bigger than life.
I think most here had that experience: trading around the clock, sometimes because of a bad trade and then the inability to pull the plug LOL -> Babysitting
Once I noticed, that many of my friends hadn't seen me for month. Slowly I recognized that I had to change things and trading. Luckily, my job allows me to have a look at the charts every here and there (lucky me). I thought, that it would fit better to trade the bigger TF's in order to have more time for friends, family and sport. But honestly, I found, that trading the higher TF's made me nervous, and meeting with friends and at the same time having open positions was not fun (with Markus always starring on his smartphone LOL).
So I got back to basics with the promise, to only trade the small TF's with a reasonable daily target. Most of my trades are on the 5min TF, some at the 15min TF.
On this TF's you have so many opportunities per day to make 8-20 pips, so there is no need to watch charts all day long.
My biggest enemy is me, trying to get a homerun :-) And sometimes I simply can not resist LOL
What I try to say is: find your way and trading style that fits best to YOU, but honestly, out of my experience I simply can not imagine that Options trading will better your situation. Especially with options it is most of the time the bank that wins (theta burning, implied volatility).
take care brother and all the best to you,
Markus
- #16,508
- Feb 1, 2013 11:21am Feb 1, 2013 11:21am
- Joined Jan 2010 | Status: Trader | 2,841 Posts
Hi Jay,
yes, life is the most valuable thing we do have - makes no sense when trading, so to say, gets bigger than life.
I think most here had that experience: trading around the clock, sometimes because of a bad trade and then the inability to pull the plug LOL -> Babysitting
Once I noticed, that many of my friends hadn't seen me for month. Slowly I recognized that I had to change things and trading. Luckily, my job allows me to have a look at the charts every here and there (lucky me). I thought, that it would fit better to trade the bigger...
Ditto Buddy
its all good as long as you learn to balance it out... thats what i am trying to do more than anything... balance out life - and that means giving up spot and changing tactics...
so far 3710 holding.... i expect it won't get taken out today... more so loiter around these levels... and expecting drop next week for retracement only - 1.3913 came up on my charts today... platform closed... enjoying weekend
- #16,509
- Feb 1, 2013 12:05pm Feb 1, 2013 12:05pm
- Joined Jun 2010 | Status: zero | 20,603 Posts
and btw don't be sorry... i am much happier and i haven't totally quit the markets... just gonna try to sponge money from a different angle that suits my lifestyle
as i say i will still post analysis and opinion when and where i can.. though will be less frequent..
if 1.3710 holds then we could revisit 1.3592.. down to 1.3475... next level above is 1.3771
My risk treshold level to the upper side is 3733; above will force many TF's to perform Octave jump. 3794 and 3916 on daily would eventually then the next targets.
With multiple divergences on nearly all TF's in place, this movement looks to be ripe for more downside - but you know divergences and what they can do to your account :-)
From a market profile perspective we have one many months/years old virgin POC at 4401 left on the upper side (it is a monthly POC = heavyweight).
From an EW point of view 4401 would make sense for the big triangle scenarion, where we are now in wave E up. And 44x is about there, where the upper boundary (downsloping line) of this triangle comes in.
But with so many divergences in place it would be like the 8th wonder of the world to go up to that point without reloading momentum first from lower places.
Hey, when we were down in the 20x region, I waited desperately for a "missing wave 5", ignoring bullish divergences all over the place.
When market ignores now all this divergences (and me not) I will got punished a second time :-))
3550 is now the gatekeeper for more bearishness.
- #16,514
- Feb 3, 2013 7:05pm Feb 3, 2013 7:05pm
- | Commercial User | Joined Feb 2010 | 14,361 Posts
ANALYSIS FOR EURUSD 4th of february 2013.
We have reached Monthly trendline and we have a big 4h candle that was initiated by NFP on Friday. Every big candle when faced with strong resistance needs responding and EURUSD is showing some retracement currently at 3645.
There is an important number down below that coincides with 38.2 fib retacement and WPP. That is a confluence at 3588 and we may retrace there. Deeper retracement can also lead to 3545-30 intraday. I dont see it below that intraday and again as we know the bigger the move is the deeper the retracement.
So my plan is not to enter long. If we go up I am looking to short it and trade the retracement to the downside. Anywhere below especially around 3588 I could start looking for long positions.
You can also read the text on my BLOG.
We have reached Monthly trendline and we have a big 4h candle that was initiated by NFP on Friday. Every big candle when faced with strong resistance needs responding and EURUSD is showing some retracement currently at 3645.
There is an important number down below that coincides with 38.2 fib retacement and WPP. That is a confluence at 3588 and we may retrace there. Deeper retracement can also lead to 3545-30 intraday. I dont see it below that intraday and again as we know the bigger the move is the deeper the retracement.
So my plan is not to enter long. If we go up I am looking to short it and trade the retracement to the downside. Anywhere below especially around 3588 I could start looking for long positions.
You can also read the text on my BLOG.
