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  • #803,541
  • May 31, 2013 1:37am May 31, 2013 1:37am
Quoting forex guru
An interesting situation in the EUR / USD nice to see how to form a flag pattern to buy this pair would be 1.3055 to 1.3086 aim for 30 pips and then continue with the aim of 1.3173 {image}
If its to break 57 which I don't think it will now as left it too late can see it making 57 then falling.. but if it was to break see 76/80 being the tops for UK morning and flag fails but can see new York taking it up later past 131 to 13105 after a 100 pip pullback first
  • #803,542
  • May 31, 2013 1:37am May 31, 2013 1:37am
Quoting Kingscalp
{quote} Make sense, but paying more than 1 pip (spread + commission) is not a good idea for this kind of trading. Keep in mind that averaging 2 pips per day on a 2% risk per trade, you can double your account in one year. Now, this is just MM and everybody need to do his work. I need to trade and I have not intention to tell others how to trade. I hope it helps a bit.
everyone has a their own trading style. different style and both can enjoy good profit. Please don't get me wrong, i'm not against scalpers anyway. what i want to say is only considering the brokerage fee and the risk for going crazy on a bad day (might lose all the equities). so it is not suitable for a newbies, coz too many factor have to be considered for scalping trading method such as internet connection, broker's execution time, brokerage fee, slippage and many more.

anyway good luck bro
Everything in the world has its own rhytms
  • #803,543
  • May 31, 2013 1:41am May 31, 2013 1:41am
Quoting COopa
{quote}
A: Trader A chance of winning is 50~50 since both SL n TP is 10 pips. (a trader chance of winning on each trade will be decreased proportionally if you have TP>SL and vice versa) so that if trader A trade 10 times, Trader A will have 5 winning positions and 5 losing position but this trader still have to pay 2 pips x 10 times. so the payout result is something like this Winnings = 80 + 80 + 80 + 80 + 80 = 400 Losings = -120 -120 -120 -120 -120 = 600 Totals = -200 with a trader's capital of $10.000, he/she might...
You are assuming they both have the same probability of winning. From that perspective it makes no sense going for 7 pips. But you are missing the whole point of going for 7 pips, which is to increase W/L ratio sacrificing R/R. Being exposed to upcoming news, change of sentiment of the participants, unexpected support resistance level are some factors that someone going for 7 pips has to deal with at a much reduced grade. So you cant expect someone with a target of 10 pips to have the same W/L ratio as someone going for 100 pips tp unless the very short term trader is just not a good trader.
If you want to put maths at work, you ought to pose more realistic variables. I don't trade looking for 7 pips anymore, I know is profitable because I traded more than 300 times using that format, but its extremely stressing. Spreads really affect you, but if you are cool with it because you are winning 70% of the time and making profit in the long run, and stable on your psych then there is no reason to stop doing it just because those looking for bigger targets cant make the format fit on their minds (they try to extrapolate their win loss ratio from big targets to small targets) .... I prefer now targets in the area between 14 and 30, more suited to my personality but not because mathematically the format didn't work. Also, 2 pips is too much for that format, thats another assumption that just makes no sense on that kind of format. I pay 1.1 commission included on average.
  • #803,544
  • May 31, 2013 1:48am May 31, 2013 1:48am
Quoting COopa
{quote} everyone has a their own trading style. different style and both can enjoy good profit. Please don't get me wrong, i'm not against scalpers anyway. what i want to say is only considering the brokerage fee and the risk for going crazy on a bad day (might lose all the equities). so it is not suitable for a newbies, coz too many factor have to be considered for scalping trading method such as internet connection, broker's execution time, brokerage fee, slippage and many more. anyway good luck bro
Yes but in everything there is a pro and contro, big money is moved in a 20 pips space, my job is to ride it .
Also in many trading tight range days I make money which are very frustrating day for others.
I am not concerned in what will happen later, I have all in front of me, I rely on my skills and edge, if I can read the tape right I make money nearly every day.

also good luck to you mate.
  • #803,545
  • May 31, 2013 1:51am May 31, 2013 1:51am
I'm starting to unbelieve in retrace
New voice message: Why are you calling me? If I need you, I'll call you!
  • #803,546
  • May 31, 2013 1:51am May 31, 2013 1:51am
Good morning gentlemen ! I was wise to take the rest of the other day off...nothing happened. Here's my view for today's movement.
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  • #803,547
  • May 31, 2013 1:52am May 31, 2013 1:52am
Quoting ptsnu
{quote} You are assuming they both have the same probability of winning. From that perspective it makes no sense going for 7 pips. But you are missing the whole point of going for 7 pips, which is to increase W/L ratio sacrificing R/R. Being exposed to upcoming news, change of sentiment of the participants, unexpected support resistance level are some factors that someone going for 7 pips has to deal with at a much reduced grade. So you cant expect someone with a target of 10 pips to have the same W/L ratio as someone going for 100 pips tp unless...

You got the keyword there 7 pips lots of STRESS and PAIN (Pain in the ass to manage)..... much easier to risk 8 pips and look for a 40 pip to 100 pip trade even if you risk 20 pips for that 40 to 100 pips the Risk to Reward is good and less stressful!! and a fuller life.... hope those guys aint too old looking at 2 and 7pips cause can see heart attacks coming on quite easily because of the utmost stress of high leverage on 7 pips and i'm guessing a super tight stop loss... they cough and they may bounce the currency in the wrong direction
  • #803,548
  • May 31, 2013 1:53am May 31, 2013 1:53am
Quoting The_Roman
Good morning gentlemen ! I was wise to take the rest of the other day off...nothing happened. Here's my view for today's movement. {image}

Think your way off mate
  • #803,549
  • May 31, 2013 1:54am May 31, 2013 1:54am
Quoting KillerWhale
I'm starting to unbelieve in retrace

We'll retrace.. the trade may not happen till 09.15 though... euro needs get to 57 minimum for shorts ideally 74/76... hourly stochastic is about to do a cycler up and 15 minute down
  • #803,550
  • May 31, 2013 1:55am May 31, 2013 1:55am
Quoting KillerWhale
I'm starting to unbelieve in retrace

there was already a retrace, to 23%. from here on, nothing is certain.
  • #803,551
  • May 31, 2013 1:55am May 31, 2013 1:55am
Quoting The_Roman
Good morning gentlemen ! I was wise to take the rest of the other day off...nothing happened. Here's my view for today's movement. {image}
I hope your right, is this based on signals or just experience? I loaded up a little heavy under 130 which looked great for a short, but have come unstuck
  • #803,552
  • May 31, 2013 1:57am May 31, 2013 1:57am
Good Morning

3645 2978 3012 3347 3327.7 3145 3906











those are just some random numbers btw
  • #803,553
  • May 31, 2013 2:00am May 31, 2013 2:00am
Quoting feather
{quote} I hope your right, is this based on signals or just experience? I loaded up a little heavy under 130 which looked great for a short, but have come unstuck
First question has a hard answer that I cannot give. By the end of the day, we'll see how it goes...I loaded some shorts with 25 pip sl at 1.3050. Same targets as yesterday.
  • #803,554
  • May 31, 2013 2:01am May 31, 2013 2:01am
Quoting RussJ
{quote} You got the keyword there 7 pips lots of STRESS and PAIN (Pain in the ass to manage)..... much easier to risk 8 pips and look for a 40 pip to 100 pip trade even if you risk 20 pips for that 40 to 100 pips the Risk to Reward is good and less stressful!! and a fuller life.... hope those guys aint too old looking at 2 and 7pips cause can see heart attacks coming on quite easily because of the utmost stress of high leverage on 7 pips and i'm guessing a super tight stop loss... they cough and they may bounce the currency in the wrong direction...

Yes, put a extremely capable scalper, disciplined on the art for several years, making profits every day with gains per pip 3 or more times bigger than those looking for 100 pip targets (not every day they can achieve 100 pips target, news can change the sentiment, etc etc), who is not affected by small movements and he can profit beyond long term traders imagination, this is why this should only be exercised by those extremely capable and with a lot of XP.

It sounds like you think going for 40 pips is better just because is the way you chose to trade.....
  • #803,555
  • May 31, 2013 2:16am May 31, 2013 2:16am
Quoting The_Roman
{quote} First question has a hard answer that I cannot give. By the end of the day, we'll see how it goes...I loaded some shorts with 25 pip sl at 1.3050. Same targets as yesterday.
Well your predication is looking ok so far i'm not sure if it will reach your target today though.
  • #803,556
  • May 31, 2013 2:18am May 31, 2013 2:18am
Quoting ptsnu
{quote} Yes, put a extremely capable scalper, disciplined on the art for several years, making profits every day with gains per pip 3 or more times bigger than those looking for 100 pip targets (not every day they can achieve 100 pips target, news can change the sentiment, etc etc), who is not affected by small movements and he can profit beyond long term traders imagination, this is why this should only be exercised by those extremely capable and with a lot of XP. It sounds like you think going for 40 pips is better just because...
  • #803,557
  • May 31, 2013 2:19am May 31, 2013 2:19am
Morning,

Today last trading of the month. Target this week has been is 3160, i suspect not much dip depending on how Yen crosses work.

Current hourly close may give direction for whole European session because its break or bounce on usdjpy and eurjpy.

Eurusd and usdjpy will dominate today.
They think they are smarter than I am.
  • #803,558
  • May 31, 2013 2:21am May 31, 2013 2:21am
Short 1.3025
  • #803,559
  • May 31, 2013 2:25am May 31, 2013 2:25am
Quoting thefuture420
Short 1.3025

Btw,

the trade is from 40 to 20 unless it breaks dowside to 00.

Watch your price.
They think they are smarter than I am.
  • #803,560
  • May 31, 2013 2:26am May 31, 2013 2:26am
Quoting feather
{quote} Well your predication is looking ok so far i'm not sure if it will reach your target today though.
You can never be 100% sure... but, I know I trust my strategy. Sometimes it pays off, sometimes it sucks
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