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Trading EURUSD only

  • #43,221
  • Apr 19, 2013 9:10am Apr 19, 2013 9:10am
Quoting goods
Just analyze and go with the flow .... This is the hardest thing to master and it took me almost 3.5 years.
I agree with you. I think she drifts lower through the day. Not enough substantive news to keep this above 1.31 for long...im just sitting back and waiting enjoying this friday

May you have many green PIPS my friend.
"It is not enough to have a good mind; the main thing is to use it well"
  • #43,222
  • Apr 19, 2013 9:31am Apr 19, 2013 9:31am
23pips. take and run
  • #43,223
  • Apr 19, 2013 9:31am Apr 19, 2013 9:31am
Quoting EuroTraderJD
Been there and done that brother. Expensive lesson and lead to 3 of my 9 losses. If your broker lets you set up multiple accounts on the same pair (as mine does) I made one screen black and the other white to avoid the mistake
Thank you Bo and ET JD, out of that trade with some profit (3 pips) and on the short side now @ approx same level. Had to go out to take care for some stuff but i was on my phone watching the MKT ... glad it came back to see what's up with that level.

I don't think I have enough money on my acc to afford 2 accounts JD, but once I have enough I will follow that advice.
Mind you, my first name is Bad. ..."Nunc Id Vides, Nunc Ne Vides"...
  • #43,224
  • Apr 19, 2013 9:36am Apr 19, 2013 9:36am
Quoting rehorst
Entered again SH (against this stop run) at 3103
Closed SH + 8. Thanks JD, Goods, all. Best of trading for you. See you next week.
  • #43,225
  • Apr 19, 2013 9:43am Apr 19, 2013 9:43am
Quoting sypherBG
Thank you Bo and ET JD, out of that trade with some profit (3 pips) and on the short side now @ approx same level. Had to go out to take care for some stuff but i was on my phone watching the MKT ... glad it came back to see what's up with that level. I don't think I have enough money on my acc to afford 2 accounts JD, but once I have enough I will follow that advice.
You are welcome brother!

If OANDA is your broker you can have a main account and then create a sub account under it. Then you can transfer money between accounts like you would pants pockets.

I missed a lot of action too. Been doing stuff and glancing at the news and posting things as I walk by.

Still short @75 and may add a long if conditions warrant.
Trade smaller than rational because the market is irrational...
  • #43,226
  • Apr 19, 2013 9:43am Apr 19, 2013 9:43am
Quoting rehorst
Closed SH + 8. Thanks JD, Goods, all. Best of trading for you. See you next week.
You are welcome.

See you on the FX battlefield next week.
Trade smaller than rational because the market is irrational...
  • #43,227
  • Apr 19, 2013 9:48am Apr 19, 2013 9:48am
Quoting EuroTraderJD
You are welcome brother! If OANDA is your broker you can have a main account and then create a sub account under it. Then you can transfer money between accounts like you would pants pockets. I missed a lot of action too. Been doing stuff and glancing at the news and posting things as I walk by. Still short @75 and may add a long if conditions warrant.

OANDA didn't accept my prove of residence, and in Bulgaria thinks are way different on that side (I lived in USA between 3 years and I know that if you rent a place there you can/have to transfer all the bills to your name, and here you just can't, all that matters here is your ID, if it's says you live somewhere, that is it ... OANDA thought different so we had to brake the deal there)
Mind you, my first name is Bad. ..."Nunc Id Vides, Nunc Ne Vides"...
  • #43,228
  • Apr 19, 2013 9:54am Apr 19, 2013 9:54am
Quoting sypherBG
OANDA didn't accept my prove of residence, and in Bulgaria thinks are way different on that side (I lived in USA between 3 years and I know that if you rent a place there you can/have to transfer all the bills to your name, and here you just can't, all that matters here is your ID, if it's says you live somewhere, that is it ... OANDA thought different so we had to brake the deal there)
I submitted a state change of drivers license change of address form that I got notarized along with my ID. I scanned both and emailed it to them and whala I was in.
Trade smaller than rational because the market is irrational...
  • #43,229
  • Apr 19, 2013 10:23am Apr 19, 2013 10:23am
Long @91

Reason PA broke above 5 SMA & RSI3 over 50

30M PA not near HSR / Fibs / Supply zone

1M chart had a couple of white candles

Existing short @75

Will see green regardless
Trade smaller than rational because the market is irrational...
  • #43,230
  • Apr 19, 2013 10:45am Apr 19, 2013 10:45am
I dunno what higher high and higher lows signal, but it looks like higher high and higher low on M15 ... just sharing ... I closed my short for +25 pips, and I'm waiting for my next entry ... lets see
Mind you, my first name is Bad. ..."Nunc Id Vides, Nunc Ne Vides"...
  • #43,231
  • Apr 19, 2013 11:16am Apr 19, 2013 11:16am
EUR/USD rejected from daily highs, back below 1.3100

After rallying to a daily high of 1.3127 in the wake of Weidmann clarifications, EUR/USD lost momentum and failed to sustain gains above 1.3100 as selling pressure increased into the European closing bell.

EUR/USD dropped over 50 pips within the last hour and fell to a session low of 1.3053, not far from its daily low of 1.3045. At time of writing, EUR/USD is trading around 1.3060, still up 0.1% on the day.

In terms of technical levels, immediate supports could be found at 1.3045 (intraday low), and 1.3020 (low Apr 18) ahead of 1.3000 (psychological level). On the other hand, if the EUR/USD breaks decisively above the 1.3125/30 zone, next resistances are seen at 1.3200 and 1.3230 (50% of 1.3710/1.2750 slide).
Trade smaller than rational because the market is irrational...
  • #43,232
  • Apr 19, 2013 11:24am Apr 19, 2013 11:24am
To my brothers who requested the MM Pyramid PDF, I sent a bunch out a few minutes ago.

Also those who asked me questions about MM check your PM or private emails. In some cases FF restricted the length of the reply so I had to resort to Plan B
Trade smaller than rational because the market is irrational...
  • #43,233
  • Apr 19, 2013 11:40am Apr 19, 2013 11:40am
Have a great weekend all, I'm out of the MKT before i mess up something on a positive week (that's 3 weeks in a row now).

Have fun and watch F1 Race Sunday


BTW there is an invisible V10+ member that is often checking on the tread and I believe it's steve.

I'll keep an eye here and will see when I'll be able to post my view of next week PA.
Mind you, my first name is Bad. ..."Nunc Id Vides, Nunc Ne Vides"...
  • #43,234
  • Apr 19, 2013 11:45am Apr 19, 2013 11:45am
Out of short @75 +2

Reason PA is above 5 SMA and RSI3 over 50

2 strikes and I am out

Will re neter again when the time is right.
Trade smaller than rational because the market is irrational...
  • #43,235
  • Apr 19, 2013 12:30pm Apr 19, 2013 12:30pm
Pipnography for Pip Pervs


http://www.forexfactory.com/attachme...1&d=1366392614
Trade smaller than rational because the market is irrational...
  • #43,236
  • Apr 19, 2013 1:52pm Apr 19, 2013 1:52pm
ECB searching for next arrow in quiver

Last summer's OMT threat by the ECB sent EUR/USD higher and peripheral yields spreads lower. The negative correlation between those two since early 2010 has moderated a bit since OMT. The 10-yr BTP-1-mo Eonia spread (4.15% last) chart shows Italy still has a long way to go to get back to pre crisis rate-convergence heaven near 25bp or even its 2004 peak by 2.57. A report by ECB's Mersch today touted loosening capital requirements on ABS as a way to get ECB liquidity to the real economy (unclogging the transmission mechanism). Draghi, too, has hinted lately that more needs to be done to spur growth. Even Weidmann says easing is possible if conditions warrant. The ECB will likely remain behind the Fed's QE curve & US yield seekers troll the EZ periphery w ECB backstops. Chart: http://link.reuters.com/vuj57t
Trade smaller than rational because the market is irrational...
  • #43,237
  • Apr 19, 2013 3:06pm Apr 19, 2013 3:06pm
The bearish engulfing pattern of Wednesday has an influence on EurUsd. Between 1.3080 and 1.3135 I would increase the short position.
  • #43,238
  • Apr 19, 2013 3:49pm Apr 19, 2013 3:49pm
Fizzling rally encourages bears

 

  1. Germany's Schaeuble inspired highs of 1.3130 talking liquidity reduction
  2. Rally short-lived as he adds outlook for EU growth precarious
  3. Bears are encouraged as the pair continues to consolidate at recent lows
  4. Forming a bear flag pattern; RSI looks set to roll over again
  5. Break down from flag likely sees 1.3000 tested, then stops through 1.2990

Trade smaller than rational because the market is irrational...
  • #43,239
  • Apr 19, 2013 3:55pm Apr 19, 2013 3:55pm
Euro Wrap Up

The pair sat 1.3090 as NY opened. An early dip below the 200 HMA (1.0386) was erased on comments from Germany's Schaeuble. He stated he would welcome the ECB trying to reduce liquidity. EUR spiked higher. EUR/USD lifted from 1.3075 to session highs of 1.3130. The move was quickly reversed though as additional comments from Schaeuble said EU countries are in a precarious state regarding growth. ECB’s Weidmann stated rates are appropriate but if data changes the ECB would need to check again. EUR/USD spiked a bit but it was short lived. He qualified his statements to DJN saying the comments are not meant to signal trend change on ECB rates. EUR/USD resumed its slide & hit a NY low of 1.3054 & sat just above it heading into the close. Bears are encouraged as the pair continues to consolidate at recent lows while it forms a bear flag pattern. The RSI looks set to roll over again & the pair is back below the 10 DMA. A break down from the flag likely sees 1.3000 tested and puts large stops through 1.2990 in jeopardy and could open the door to the 200 DMA.
Trade smaller than rational because the market is irrational...
  • #43,240
  • Apr 20, 2013 8:31am Apr 20, 2013 8:31am
Quoting goods
All, I see a lot of you are confused as to what is going on and that it is hard to enter and exit the market. I beg to differ and if you paid attention to Mine and Euro traders previous posts about money management you will understand why it is easy for us. I have made 65 pips on one trade put on last night (1.3051) and today I am up 60 pips on another long trade (1.3060) for eu. This equates for 125 pips 2 trades. Set it and forget it. Below is advice for some of you who are confused. I have a total of 700+ pips in 2 weeks only. Maybe 5 trades...
Sorry brother I must have missed this post yesterday between trading, watching news feeds and replying to comments, doing some things at the office...all at the same time. Who says men cant multi task? hehe

Great advise here. Very good!

That V has been sent. You deserved it a long time ago.
Trade smaller than rational because the market is irrational...
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