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  • #808,681
  • Jun 18, 2013 4:37pm Jun 18, 2013 4:37pm
Quoting PROstrength
{quote} Quoting gatorinla {quote} thats not bad, 20-23 trading days in a month. at 20 days that's 250 to 400 pips in a day, correct? where do i buy this strategy? Id take 400 solid profitable pips a month @ 5-8 lots (within safe margins) that's a great month/yr

Friend 20/25 per day is a lot different than 300 pips ...
  • #808,682
  • Jun 18, 2013 4:38pm Jun 18, 2013 4:38pm
3370/72 st bears want
those who can, do. those who cant, talk about those who can
  • #808,683
  • Jun 18, 2013 4:39pm Jun 18, 2013 4:39pm
Quoting chess king
{quote} Friend 20/25 per day is a lot different than 300 pips ...

its all the same,
those who can, do. those who cant, talk about those who can
  • #808,684
  • Jun 18, 2013 4:42pm Jun 18, 2013 4:42pm
Quoting chess king
{quote} Friend 20/25 per day is a lot different than 300 pips ...
I was just stating that in my world, 10+pips a day avg (plus cover of commission/spread) is my goal.
Now would I like to have that 10-fold? Absolutely who wouldn't If that system exists, I'm on board

I have set goals, and strive to not deviate unless it proves to be a high percentage of success. I write goals
and go over them daily.
However, you are certainly correct, 300 is VERY different from 20
  • #808,685
  • Jun 18, 2013 4:46pm Jun 18, 2013 4:46pm
Quoting PROstrength
{quote} I found that the more I learn, the more I realize I didn't know much at all

thats funny Bro, i have felt like that for the past few years trading. Its a good lesson to learn and to understand that the market does not always obey any of the rules that which we expect it too. We simply work on probabilities and try to limit risk or excessive exposure.

When i learned to read a chart from many technical perspectives it made me more confused and i would over analyse things. Took me many months to get my head around the SSI too. I even asked my wife if she could make sense of it.

Best advice i can give you in terms of technicals is to stick to the basics of highs and lows on price action. A new LL is simply bearish and a higher high is bullish on any time frame. W and M patterns have served me better than anything else. Market can move in any directio and at any time but avoiding news items and watching price action i think are the best technical indicators.

I actually no longer trade this way after finding it too consuming. I stick to longer term swings and enter in areas that allow me the greatest probability to win. (not that i get this right all the time)

Good luck bro
Money never sleeps...
  • #808,686
  • Jun 18, 2013 4:49pm Jun 18, 2013 4:49pm
Quoting tomspin
terrible PA daily heavy, retracement woul be healthy before fomc. That didn't happen dough. Is it a right place to extend the rally? prolly not but market do whatever wants so be ready and trade outcome. keep useless shite out of trading, it will drain your energy, go out have a barbecue with mates and do not try to understand things you have no power to change. I am a bit bearish atm but do not see a reason for full commitment. take care
Today I have had a surprise and I have had a wrong plan. I thought that today the market was going to be more flat, to narrow the range market, but surprisingly has been again a copy day from everyday since 10th June. IMO, the day before or the same day a Draghi or Bernanke speech, the market starts to be narrower. But it is still breaking ceilings.
I have little experience compare with other traders ¿what do tou thing about this? Is it not the announcement for a big retrace? ¿is it unhealthy so clear uptrend market before a FOMC statement??
  • #808,687
  • Jun 18, 2013 4:57pm Jun 18, 2013 4:57pm
Quoting gatorinla
{quote} crabs often are fast w/o much retrace.
Crabs don't like double price.

Attached Image (click to enlarge)
Click to Enlarge Name: kpiNJr3.png Size: 26 KB
Keep it simple and trade with the trend
  • #808,688
  • Jun 18, 2013 4:58pm Jun 18, 2013 4:58pm
Quoting inpatient
{quote} thats funny Bro, i have felt like that for the past few years trading. Its a good lesson to learn and to understand that the market does not always obey any of the rules that which we expect it too. We simply work on probabilities and try to limit risk or excessive exposure. When i learned to read a chart from many technical perspectives it made me more confused and i would over analyse things. Took me many months to get my head around the SSI too. I even asked my wife if she could make sense of it. Best advice i can give you in terms of...
Cool, and thank you for the time it took to share this with me. I appreciate the knowledge a lot of people have here and their willingness to share it openly.
I look forward to learning more daily. It is a balancing act to be sure. I liked the, "I even asked my wife if she could make sense of it," comment. I have to admit, my wife is great at math too (she's a physician) and jumps right into this too wanting to learn all she can. I am fortunate to have a lifelong friend who has been doing this for 8 yrs as a mentor. He basically trades from signals now, and then trades within those open trades and had a 2-1/2 run of Zero negative hits until June 3rd.
Thanks again for the share!
  • #808,689
  • Jun 18, 2013 5:01pm Jun 18, 2013 5:01pm
Quoting gatorinla
{quote} its all the same,

unbelievable the efficiency of the system...
  • #808,690
  • Jun 18, 2013 5:15pm Jun 18, 2013 5:15pm
Quoting emilnow
{quote} Crabs don't like double price. {image}

almost like the whole world wants to go to war to help their economies, huh?
those who can, do. those who cant, talk about those who can
  • #808,691
  • Jun 18, 2013 5:15pm Jun 18, 2013 5:15pm
Any forecasts for tomorrow?
There is no spoon....
  • #808,692
  • Jun 18, 2013 5:20pm Jun 18, 2013 5:20pm
Quoting Msis125125
Any forecasts for tomorrow?

sunny above the clouds.. wet below them
those who can, do. those who cant, talk about those who can
  • #808,693
  • Jun 18, 2013 5:22pm Jun 18, 2013 5:22pm
So EU bear?
There is no spoon....
  • #808,694
  • Jun 18, 2013 5:27pm Jun 18, 2013 5:27pm
Hi all

short on crude tsl looking for 1k pips

Regards
  • #808,695
  • Jun 18, 2013 5:41pm Jun 18, 2013 5:41pm
the candle to the left is slightly higher. anyway i couldn't Long this 4h candle w/o retrace. on these a 3402/03 entry is what i would try for... with the high + as stop
Attached Image
those who can, do. those who cant, talk about those who can
  • #808,696
  • Jun 18, 2013 5:44pm Jun 18, 2013 5:44pm
Would retracement come to 1.32? This is my only logical level!
Attached Image (click to enlarge)
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There is no spoon....
  • #808,697
  • Jun 18, 2013 6:01pm Jun 18, 2013 6:01pm
Quoting Delta1One
Looks like the bearish EUR figures (red all the way today) associated to the bullish USD figures (green all the way today) couldn't make the candles heading north that much...it just preventing from heading south like a rocket. So well, even if bad EUR figures + good USD figures cannot stop that, then what else to do than going long? What about 1.3388-1.3395-1.34 as target ? Entering a dozen of pips above what seems to be a support at around 1.3340-1.3345, and with a SL same way but a dozen of pips below that support area ? Would give a ratio of...
Happiness - the stuff triggered out. Hands on 91 pips. Well done rookie. What a pity I didn't dare to load this position with just a bit more lots...

Let's set another pips trap....1 to catch any upside move, and another one to catch any reversal....same strategy, distance entry point - TP 60% for 40% distance entry-SL....May the Forex force be with me in these uncertain times...and helps me to find the path to the correct entry point...

Attached Image
  • #808,698
  • Jun 18, 2013 6:08pm Jun 18, 2013 6:08pm
Quoting Msis125125
Would retracement come to 1.32? This is my only logical level! {image}


Beneath 1.327 lurks many long stops and sell orders

If we break beneath we may not return for while.
Money never sleeps...
  • #808,699
  • Jun 18, 2013 6:12pm Jun 18, 2013 6:12pm
Quoting Msis125125
Would retracement come to 1.32? This is my only logical level! {image}

its just a candle. its not going to tell you more then, a retrace is possible. the last support below in the 4h candle is 3347/50 ish... the R we had at 3370 area may be a light support now.
those who can, do. those who cant, talk about those who can
  • #808,700
  • Jun 18, 2013 6:20pm Jun 18, 2013 6:20pm
bearish divergence all over the place... tomorrow should be very interesting.
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