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  • #820,081
  • Aug 1, 2013 10:31am Aug 1, 2013 10:31am
Quoting HDA
{quote} @PKIMNYC: I have the greatest respect for GATOR, PAYTHELIMIT, THE FOOL, KILLS56, CLOGGIE, PITERS, YOURSELF, PIPCHICK, (I miss her alot) Etc Etc Etc too many to name There are alot of traders. I don't have the time Sorry
you can leave me out of that list. i'm clueless most times. lol
  • #820,082
  • Aug 1, 2013 10:36am Aug 1, 2013 10:36am
Quoting pkimnyc
{quote} you can leave me out of that list. i'm clueless most times. lol
Those with the absolute conviction are the scariest... especially when young bloods are listening to their every word.
  • #820,083
  • Aug 1, 2013 10:36am Aug 1, 2013 10:36am
Quoting ffleo
{quote} sellers are bearish participants of the market which also contains bullish buying participants. why the bullish buying participants need to drive the market up just to look for and fill the orders of the sellers? is not it more logic that the bullish buyers just drive the market up without any sellers standing in the way? i really do not understand the concept of marketsearching for buyers and sellers.
@ffleo:

The Bulls are being tricked into thinking they should buy and that it is going up. So more and more new money is brought into the market to be taken away from the buyer when he enters, because the true direction is already chosen, but does he have the information and the training and edge to see the bigger picture - NO - so he enters based on emotions, no trading plan, just a hunch, a feel with no sound reasoning. That's the psychology i'm referring to that destroys traders.

Now an experienced scalper will buy and sell any direction if he/she (cant leave out the ladies ) knows what they are doing.

You just went long on the usd/cad, WHY? your long is now under water - I just explained traders should have taken profit and wait to go long again at support and you jumped in long - why at this time of the day?

This is what I mean - No one is willing to pay for the education.
  • #820,084
  • Aug 1, 2013 10:38am Aug 1, 2013 10:38am
Quoting HDA
{quote} @ffleo: You are buying into resistance. Heavy Sell orders are at 1.3050 - pop into the USD/CAD thread and read the trading plan.
thanks for the note. there will be selling orders in its way up of usdcad. the current pattern looks like a temporary bottom. i will hold my trade until usdcad cracks down 1.0263.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD 240 min #1 41487.7303.png Size: 30 KB
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #820,085
  • Aug 1, 2013 10:40am Aug 1, 2013 10:40am
Quoting HDA
{quote} @ffleo: The Bulls are being tricked into thinking they should buy and that it is going up. So more and more new money is brought into the market to be taken away from the buyer when he enters, because the true direction is already chosen, but does he have the information and the training and edge to see the bigger picture - NO - so he enters based on emotions, no trading plan, just a hunch, a feel with no sound reasoning. That's the psychology i'm referring to that destroys traders. Now an experienced scalper will buy and sell any direction...
Are you offering education for pay?
  • #820,086
  • Aug 1, 2013 10:42am Aug 1, 2013 10:42am
Quoting HDA
{quote} @OfWolfAndMan: Correct - Trading is 80% Psychological, 10% Skill and 10% Mental Ability. That book helps you to master the 80% Psychological. That is your biggest hurdle to overcome as a trader. Once you can overcome that - the rest falls into place. As for other books - I have no recommendations.
there is the other good trading psychology book by Steenbarger: "the daily trading coach".
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #820,087
  • Aug 1, 2013 10:46am Aug 1, 2013 10:46am
Quoting ffleo
{quote} thanks for the note. there will be selling orders in its way up of usdcad. the current pattern looks like a temporary bottom. i will hold my trade until usdcad cracks down 1.0263. {image}
@ffleo;

What did your checklist tell you? What is your risk reward ratio? Is it worth it to enter so high - the old adage is buy low - sell high. Sell high - buy low. You say you are going to hold it until 1.0263 cracks down - You have lost me - Why enter at 1.034XX to the expose yourself to 1.0263

So thats a 80 pip RISK for how much reward?
  • #820,088
  • Aug 1, 2013 10:48am Aug 1, 2013 10:48am
Quoting Pharm0r
{quote} Are you offering education for pay?
@Pharm0r:

I have never been here for commercial interests and this is not the forum for that. My answer is NO

  • #820,089
  • Aug 1, 2013 10:52am Aug 1, 2013 10:52am
Quoting Pharm0r
{quote} Are you offering education for pay?

I assume he is too busy or happy, but what he is referring to is the price has to be paid upfront and in full. Either in formal training or pips. How I see I UCAD.

1.035 tough to crack needs more power.

I fully expect to be taken out and reenter. Only looking for cz to push higher, if not will buy back cheaper.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadh481.jpg Size: 164 KB
The world you desire can be won. It exists.. it is real.. it is possible..
  • #820,090
  • Aug 1, 2013 10:53am Aug 1, 2013 10:53am
Quoting ffleo
{quote} there is the other good trading psychology book by Steenbarger: "the daily trading coach".
@ffleo:

The Four Agreements has absolutely nothing to do with trading - it is about personal development.
  • #820,091
  • Aug 1, 2013 10:53am Aug 1, 2013 10:53am
Quoting ffleo
{quote} it might go to 1.045 or more.
First has to break resistance @ 1.0356
New voice message: Why are you calling me? If I need you, I'll call you!
  • #820,092
  • Aug 1, 2013 11:02am Aug 1, 2013 11:02am
Quoting Rag2RichesFX
{quote} big buyers need a match for their order. ie big buyer needs to find big seller. or big buyer gets too much slippage
big buyers drive the market up from demand zones to supply zones to fill their own orders that is already a big slippage.

my thinking is that both big buyers and sellers try to fill their orders in a consolidation zone (be it demand or supply zone). whoever having the bigger force to break the boundary on one side of the consolidation zone who wins. once one of the boundary of the consolidation zone is broken, there will be a huge move, since the stops of the losing party add to the fuel. market chasers also add fuel to the move.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #820,093
  • Aug 1, 2013 11:06am Aug 1, 2013 11:06am
Quoting ffleo
{quote} big buyers drive the market up from demand zones to supply zones to fill their own orders that is already a big slippage. my thinking is that both big buyers and sellers try to fill their orders in a consolidation zone (be it demand or supply zone). whoever having the bigger force to break the boundary on one side of the consolidation zone who wins. once one of the boundary of the consolidation zone is broken, there will be a huge move, since the stops of the losing party add to the fuel. market chasers also add fuel to the move.
@ffleo:

Shouldn't you then be selling at the supply zone, where you say you just bought?
  • #820,094
  • Aug 1, 2013 11:11am Aug 1, 2013 11:11am
Quoting Venice
Dixie in supply. Let's see if can clear it so we can get the euro going short DOW Theory Style.
im wondering if there are big boys trading Dixie.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #820,095
  • Aug 1, 2013 11:19am Aug 1, 2013 11:19am
not gonna buy U/C before 1.3610 close daily...then we can talk about longs

edit : and for sure i am not gonna buy dollar before NFP news
do whatever the fuck you want to do !
  • #820,096
  • Aug 1, 2013 11:28am Aug 1, 2013 11:28am
Former Italian PM Silvio Berlusconi was found guilty of tax evasion. He must serve 4 years (reduced to one) in jail. This could affect Italian government.
http://www.repubblica.it/politica/20...ione-64133345/
  • #820,097
  • Aug 1, 2013 11:29am Aug 1, 2013 11:29am
http://www.forexfactory.com/attachme...2&d=1374705872

take into attention that the mini sp500 not yet finished his ascent posted yesterday that he is on his way in 1721, 1710 or 1721 then it goes to 1773 and goes right there and that the big selling point down with a target 1435.. big correction the price In September we have to be down there and then go up to around 3000 points. HA.HA
  • #820,098
  • Aug 1, 2013 11:33am Aug 1, 2013 11:33am
Quoting HDA
Good Morning Traders The buyers are camped out at 1.3250/60, 1.3220 and 1.3200 and just below that extremely large STOPS for the Bulls The sellers are camped out at 1.3300/10, 1.3340 and 1.3350 and just above very large stops. Now here is the patience - I was referring to. do you see how easily the market is falling because all the stops were cleared yesterday all the way down to 1.3210. Now 1.3200 is the psychological level and very very critical for the bulls. if that level breaks and it will - how do they say it in the logging business , TIMBER!!!!!!!!!!...
Good post.
  • #820,099
  • Aug 1, 2013 11:41am Aug 1, 2013 11:41am
Quoting hadox
{quote} euro assraping bulls and bears as expected, dax rejected at 821x for now, levels I'm looking for if everything plays out is 834x, 845x and perhaps a new ath.. who knows, the day is still young and fomc is still key for today.. gl today

2. target hit in the dax.. looking for a new ath, perhaps nfp could give it the final push tomorrow, who knows..

gl trading
Patience is a virtue...
  • #820,100
  • Edited 11:51am Aug 1, 2013 11:44am | Edited 11:51am
FRIDAY, AUGUST 2, 2013

Here are the levels - use this information as best you see fit.

EUR/USD Options Expiry for 10am Eastern tomorrow Friday, August 2, 2013.

1.3300, 1.3270, 1.3260, 1.3250 That's the top of the range

1.3200, 1.3190, 1.3100, 1.2900 That's the bottom of the range.

So we are looking at consolidation immediately between 1.3250 and 1.3200 (50 pip range)

The market SHOULD NOT pop outside that range before NFP. Now looking above, 1.3300 CAPS the up move with 4 levels of expiries to go through - thats alot to keep the EUR from climbing.

Now look at the bottom - After 1.3200 and 1.3190 the next level is 1.3100 then 1.2900 note the major stops are at 1.3175 hence 1.3180 will be tough to break, but if it breaks and it will, its a free fall to 1.3100

With all that info at your finger tips - you can now make an informed decision as to the higher probability of where the market should go.

Notice - no charts, no indicators - this is just information that is correctly interpreted.

Now Lets see what happens

DO YOU SEE HOW TIME CONSUMING THIS IS TO INTERPRET TYPE AND SHARE - SORRY NO CAN DO

USD/CAD Options Expiry for 10am Eastern, Friday, August 2, 2013

1.0450, 1.0400 That's the top of the range

1.0350, 1.0320 That's the bottom of the range

So we are looking at consolidation immediately between 1.0350 and 1.0320 (30 pip range)

The market SHOULD NOT pop outside that range before NFP. Now looking above, 1.0450 CAPS the up move with 2 level of expiries to go through - but look at the 50 pips distance between the expiries.

Now look at the bottom - After 1.0320 the next rock solid level of support is between 1.0360 and 1.0340 which will be tough to break.

With all that info at your finger tips - you can now make an informed decision as to the higher probability of where the market should go.

Notice - no charts, no indicators - this is just information that is correctly interpreted.

Now Lets see what happens

I'M TIRED - TAKE CARE
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