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  • #808,221
  • Jun 17, 2013 5:07am Jun 17, 2013 5:07am
Quoting hadox
cable ready for take off..
Hope you are right, I was thinking long would be risky right now.

Your target?

  • #808,222
  • Jun 17, 2013 5:22am Jun 17, 2013 5:22am
Mofus.. Valid for next 4 hours.
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  • #808,223
  • Jun 17, 2013 5:41am Jun 17, 2013 5:41am
Greetings to all, first post so please be kind . I've followed this thread for a couple of years but never had the courage to join FF and post until now. I trade the Euro/dollar and have done for years, to be specific I spreadbet it with IG index in the UK.
I wonder if you could be kind enough to try to explain a couple of things to me because I cannot get my head around it!
With the latest news out regarding the trade balances of both Italy and the Euro, both were less than the estimates and I would have expected the euro to fall, but it just seems to be hanging around the 1.3340 level.
I was short on Fri from 1.3374, my target was 1.3280, wasn't hit but I finally got out at 1.3334!
At the moment I have a few positions short with an average of 1.3345, my first target is 1.33, second target is 1.32. I've set my stop @ 1.3344 !

My question is shouldn't the trade balance estimates being less than expected have caused a the euro to fall a lot further and a lot faster than it has?
Many thanks to anyone who takes the time to reply and good luck to all
  • #808,224
  • Jun 17, 2013 5:57am Jun 17, 2013 5:57am
IMHO if one wants to simplify intraday trading, just use pivots & mid pivots.
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  • #808,225
  • Jun 17, 2013 6:02am Jun 17, 2013 6:02am
Quoting maximinus
{quote} Ohh how cruel you are Let hope that you only killed a killerwhale but not the whole lupanar forum.
I slay dragons in old country, not the killer whales. Nothing wrong with telling truth, no. Still friends okay. I like everyone. Mother tell me truth is best policy, not the life insurance.
I making the big monies, so far +10 pips. Follow me if you nice guy...
  • #808,226
  • Jun 17, 2013 6:06am Jun 17, 2013 6:06am
Quoting iamkjb
{quote} Hope you are right, I was thinking long would be risky right now. Your target?

I'm still waiting for the daily to confirm, given the PA I'm not trying to outsmart the daily, sometimes it's possible, but not today..
Patience is a virtue...
  • #808,227
  • Jun 17, 2013 6:17am Jun 17, 2013 6:17am
Quoting andyq
Greetings to all, first post so please be kind . I've followed this thread for a couple of years but never had the courage to join FF and post until now. I trade the Euro/dollar and have done for years, to be specific I spreadbet it with IG index in the UK. I wonder if you could be kind enough to try to explain a couple of things to me because I cannot get my head around it! With the latest news out regarding the trade balances of both Italy and the Euro, both were less than the estimates and I would have expected the euro to fall, but it just...
it's just noise imo.. stick to the technical setups instead..
Patience is a virtue...
  • #808,228
  • Jun 17, 2013 6:18am Jun 17, 2013 6:18am
hmm
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  • #808,229
  • Jun 17, 2013 6:34am Jun 17, 2013 6:34am
what a slow day
been there done that, Good Bye
  • #808,230
  • Jun 17, 2013 6:35am Jun 17, 2013 6:35am
What do you think abaout it?

Weekly wave analysis
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"Rule No.1: Never lose money. Rule No.2: Never forget rule No.1." — Warren
  • #808,231
  • Jun 17, 2013 6:37am Jun 17, 2013 6:37am
Quoting WhiteHorse
what a slow day

Because it's monday
"Rule No.1: Never lose money. Rule No.2: Never forget rule No.1." — Warren
  • #808,232
  • Jun 17, 2013 6:50am Jun 17, 2013 6:50am
Thank you Hadox for your reply, from a technical prospective I tend to look at support and resistance levels, along with the macd, stochastic and rsi over different timeframes. I noticed on the daily the price reached a high of 133.90 with the stoch peaking @ 92.5, and rsi reached a high, both are now declining, the macd also looks like its rolling over, which gets me thinking that the price is going to follow. I see short term resistance @ 1.3358 then 74 and then 90, as long as it doesn't break through those numbers I think its going down. Please let me know what you think as this is not the sort of thing I can discuss with my friends in the pub! I may as well be talking Turkish
  • #808,233
  • Jun 17, 2013 7:00am Jun 17, 2013 7:00am
Quoting andyq
Thank you Hadox for your reply, from a technical prospective I tend to look at support and resistance levels, along with the macd, stochastic and rsi over different timeframes. I noticed on the daily the price reached a high of 133.90 with the stoch peaking @ 92.5, and rsi reached a high, both are now declining, the macd also looks like its rolling over, which gets me thinking that the price is going to follow. I see short term resistance @ 1.3358 then 74 and then 90, as long as it doesn't break through those numbers I think its going down....
well, I don't use indicators, it's just noise imo, but if you're using a well tested strategy with indicators as a help, then it's another story..

I dont know which TF you're trading, but it looks like you're using the latest highs as R-, right know it's just a very compressed range, sooner or later it's going to pop..

in the end, it's all about having confidence in your setups, that shouldn't be a problem if your strategy is well tested, right?
Patience is a virtue...
  • #808,234
  • Jun 17, 2013 7:21am Jun 17, 2013 7:21am
nope I haven't tested any strategy, I place trades based on what I can see and how I think the price is going to develop, I tend to cut my loses quickly and try and let my profitable trades run until I think its run out of steam !! i've blown my account lots of times all down to bad money management. I once turned a £100 account into just under £10k in 2 weeks, then lost £7500 in 20 mins!!! very painful I can tell you. I used to sit and watch nearly every tick from sunday night until fri close!
i'm still learning and think I always will be but ive got a lot better at managing the money I have in my a/c now, when i'm happy with what ive made or taken a few losses ill walk away and wait for another opportunity, they will always come along. I don't earn a fortune from this, I look at it as paying me a wage at the end of the day or week. I earn a living from it and that does me.
How would I go about strategy testing? how do you do it?
  • #808,235
  • Jun 17, 2013 7:37am Jun 17, 2013 7:37am
the problem is a big bet from Asia Bank, that Euro not going beyond 1.34 in next 1,5 hours... huge options value. So market wants to go up but cannot. They cover it until 16 CEt then the release comes... cheers
  • #808,236
  • Jun 17, 2013 7:39am Jun 17, 2013 7:39am
Quoting andyq
nope I haven't tested any strategy, I place trades based on what I can see and how I think the price is going to develop, I tend to cut my loses quickly and try and let my profitable trades run until I think its run out of steam !! i've blown my account lots of times all down to bad money management. I once turned a £100 account into just under £10k in 2 weeks, then lost £7500 in 20 mins!!! very painful I can tell you. I used to sit and watch nearly every tick from sunday night until fri close! i'm still learning and think I always will be but ive...
hmm, how do you know you have an edge then?
Patience is a virtue...
  • #808,237
  • Jun 17, 2013 7:42am Jun 17, 2013 7:42am
there might be a bit of room for some retrace here in preperation of further USD declines, first to 10.400 and 10.090 later

USDOLLAR D1:
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Don't be a hero. Don't have an ego. Always question yourself
  • #808,238
  • Jun 17, 2013 7:50am Jun 17, 2013 7:50am
I don't, I think the market will go where it wants to go regardless. I just trade it as I see it!, with tight stops and when I get into profit I move b/e to my opening position +1 and adjust it accordingly if it goes further in my favour!
what do you do that gives you an edge if you don't mind me asking?
  • #808,239
  • Jun 17, 2013 7:55am Jun 17, 2013 7:55am
Quoting andyq
I don't, I think the market will go where it wants to go regardless. I just trade it as I see it!, with tight stops and when I get into profit I move b/e to my opening position +1 and adjust it accordingly if it goes further in my favour! what do you do that gives you an edge if you don't mind me asking?
looking at the higher TF, waiting for the best RR everytime, and most important; patience to sit on my hands and do absolutely nothing ..
Patience is a virtue...
  • #808,240
  • Jun 17, 2013 7:59am Jun 17, 2013 7:59am
very wise words, thank you, I really appreciate chatting with you, all the very best to you
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