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Help Me Establish The GbpUsd After Dinner Club 40 replies

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  • #3,041
  • Aug 1, 2013 3:50pm Aug 1, 2013 3:50pm
I find it stunning how many traders in the EURUSD thread do lack the very basics of trading


Example: HDA is giving trading lessons, especially in terms of the use of options-data.


I ever thought, that that was one of the very basics of trading to know, where traders options are lining up, and where the "Pin-Risk" resides, but traders in EURUSD thread seem to have only now found another piece of the holy grail.


But it seems true, that especially Forex-trading seems to attract a lot of chevaliers of fortune.
  • #3,042
  • Aug 1, 2013 3:51pm Aug 1, 2013 3:51pm
Quoting PipTrapper
{quote} You forgot 1.2810

damn, he even forgot parity and 0,84
  • #3,043
  • Aug 1, 2013 4:12pm Aug 1, 2013 4:12pm
Quoting Forexcube
How you could understand my trading style in a more global sense. I trade often with 1/10 orders so I have the freedom to go at different entry- & exit levels in and out of the market and I can sleep extremely well during my absence of the forex maret when not monitoring the abrupt price movements here and there. My target is 0.25-0.5% per day. Put something by for a rainy day? Surplusses (0.5% > would be transferred into my warchest. It's my LOM concept (Loss Order Management) I like to trade with different accounts....
.

What does actually mean? Thank you.
Wherever you go, there you are.
  • #3,044
  • Aug 1, 2013 4:13pm Aug 1, 2013 4:13pm
Quoting PipTrapper
{quote} You forgot 1.2810
ya it looks like it might well head back into 1.27 but not without a fight... This time 1.27 will give up imo if we do attack it and will slice through the 1.26 level... i would watch 1.24-1.25 as per my previous post in here... i had a short running from 1.3341 yesterday but have cashed it in... 32 pips short of my target and I believe 3041 is the target for now...

Markus... Parity probably won't happen yet... we have missed 1.40.. I think once thats hit then there will be nothing else upside so down we go to parity... of course 1.23 and 1.20 will open the doors to 1.16, 1.12, 1.10...
  • #3,045
  • Aug 1, 2013 4:20pm Aug 1, 2013 4:20pm
Quoting infinitus
I find it stunning how many traders in the EURUSD thread do lack the very basics of trading Example: HDA is giving trading lessons, especially in terms of the use of options-data. I ever thought, that that was one of the very basics of trading to know, where traders options are lining up, and where the "Pin-Risk" resides, but traders in EURUSD thread seem to have only now found another piece of the holy grail. But it seems true, that especially Forex-trading seems to attract a lot of chevaliers of fortune.
I don't know anything about options

I spoke to one guy who didn't know the meaning of candles... just traded based on fundies.. another who didn't know the history of candles but was a technical trader..

to be honest I think the less you know about the market and the vast bs tools out there then you can probably do better in some cases... my trading style has changed dramatically... I am more confident and less stressed about my trades... and I am doing much better.. I've got rid of almost every indicator on my chart - patience is improving... last nights trade I had entered was with a 5pip SL - make or break levels.. first analysis was wrong @ 3332 which was an old price thus became meaning less...
  • #3,046
  • Aug 1, 2013 4:25pm Aug 1, 2013 4:25pm
Quoting milam
{quote} . What does actually mean? Thank you.

Hi Milam,

since FCube is not around let me chip in:


Forexcube answered the question in the last 3 days. You can find his answer with the search function.


I have nearly the same system. For me, a 1/10 position delivers a gain of 1% when price moves 100 pips. For the same gain you only need 50 pips in a 2/10 position and so on.

On the front page of Shangri-La I wrote once:



About my (Infinitus) Money Management and Position Size


a) for every 10000 USD in account your max. position size is 1 Lot (max. allowance); it is called a 10/10 or full position (so, normally, my max. leverage is 10:1)

b) the max. position can be split in parts (1/10 positions)

c) best position size is 0.5 Lot per 10000 USD in account risk/reward/time wise; it is called a 5/10 or half position (leverage 5:1)

d) for lower risk trade with 0.2-0.3 Lot per 10000 USD in account
  • #3,047
  • Aug 1, 2013 4:39pm Aug 1, 2013 4:39pm
Quoting infinitus
{quote} Hi Milam, since FCube is not around let me chip in: Forexcube answered the question in the last 3 days. You can find his answer with the search function. I have nearly the same system. For me, a 1/10 position delivers a gain of 1% when price moves 100 pips. For the same gain you only need 50 pips in a 2/10 position and so on. On the front page of Shangri-La I wrote once: About my (Infinitus) Money Management and Position Size a) for every 10000 USD in account your max. position size is 1 Lot (max. allowance); it is called a 10/10 or full...


Thanks Markus.

Milam
Wherever you go, there you are.
  • #3,048
  • Aug 1, 2013 5:04pm Aug 1, 2013 5:04pm
Quoting jaylovin
{quote} I don't know anything about options I spoke to one guy who didn't know the meaning of candles... just traded based on fundies.. another who didn't know the history of candles but was a technical trader.. to be honest I think the less you know about the market and the vast bs tools out there then you can probably do better in some cases... my trading style has changed dramatically... I am more confident and less stressed about my trades... and I am doing much better.. I've got rid of almost every indicator on...
How old is "old"?

Have you read something about "market memory"?

How do you separate old and too old levels?
What are the some cases, what are the other cases?

Most of the time we all have certain levels on our mind. As it seems, you, too. So what is the trigger for a trade in your case? In my case, it is almost ever momentum, volume and price pattern.

When you decide to become a physician, you have to learn a lot of things, where you would think, that you won't never ever need them in practice. But in practice, then comes the time, where you suddenly need those tools. Same is in trading. All this obscure tools, bs indicators etc. can help you to get the diagnosis right. Trading is not 1+1= 2, it is certainly more kind of S = k log W


If a simple approach works: fine, why not. Keep it up


Can you imagine trading your style when scalping or short swing trading? Can you imagine your trading style on a tick chart or a 20sec. chart?

What I like to say: to each his/her own. Many here, like for example Forexcube or me, constantly trade on many different TF's. When we see fit, we take the long ride, when we see fit or are in the mood, we take the ultra-short ride. All trades need special measurements, treatments, tools.

Ignoring some tools can come with hefty losses. I can remember some traders losing their shirts, when Japanese CB intervened 1 or two years ago. I can remember very well, because the intervention was a Damocles Sword, and the second was that the USD was a screaming buy versus the JPY at that time EW wise.

So it may pay in Forex trading to have your eyes at all the sides at the same time

And as I just wrote in EURUSD thread two weeks ago:

I do not get it, why people feel the need to get the moves to the pip, in approaching this, missing a lot of very good trades. I like to say: it is betting with a 1-5 pip SL on the home run

But hey, that is just MHO.


There is a very good reason, why most traders fail due to high leverage. KillerWhale mentioned it already this evening, and I have writen about it times and again in Shangri-La.: FXCM has a study, showing that the successful trader are using a leverage of only 5:1. The study can be found via the front page of Shangri-La.

I try to get my entry as near as I can get it, too. But I am scaling in and use wide SL (if at all). I am most of the time able to close my trades in the green.

The most trouble I do have with trades, where I try to establish a homerun.

Conclusion is: trading is a daily business, and not a homerun business. At least for me........



Keep on the good work, mate.
  • #3,049
  • Aug 1, 2013 5:23pm Aug 1, 2013 5:23pm
Quoting Forexcube
EURUSD at @ 1.3250 I have hedged some orders Long @ 1.3250 (5x), Targets @ 1.3263 (DPV), @ 1.3278 (mR1), @ 1.3292 (DR1), @ 1.33 (2x) Short @ 1.3250 (5x), Targets @ 1.3225 (DS1), @ 1.3211 (mS1), @ 1.3205 (DS2), @ 1.3196 (DS2)(2x)
#2848

Short Orders
All targets have triggered.
Profit: +25, +39, +45, +54, +54

Long orders were triggered yesterday ( see 2865)

No further Hedging orders in the market.

EURUSD, H1, 2013 August 02
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  • #3,050
  • Aug 1, 2013 5:34pm Aug 1, 2013 5:34pm
Quoting Forexcube
{quote} #2848 Short Orders All targets have triggered. Profit: +25, +39, +45, +54, +54 Long orders were triggered yesterday ( see 2865) No further Hedging orders in the market. EURUSD, H1, 2013 August 02 {image}
bow down
  • #3,051
  • Aug 1, 2013 5:54pm Aug 1, 2013 5:54pm
If price not go back up above 1.325x-7x area next short targets are : 1.317x and 1.314x
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  • #3,052
  • Aug 2, 2013 12:16am Aug 2, 2013 12:16am
Gold update:
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  • #3,053
  • Aug 2, 2013 1:04am Aug 2, 2013 1:04am
Quoting infinitus
I find it stunning how many traders in the EURUSD thread do lack the very basics of trading Example: HDA is giving trading lessons, especially in terms of the use of options-data. I ever thought, that that was one of the very basics of trading to know, where traders options are lining up, and where the "Pin-Risk" resides, but traders in EURUSD thread seem to have only now found another piece of the holy grail. But it seems true, that especially Forex-trading seems to attract a lot of chevaliers of fortune.
tsk tsk!! Don't go wandering into the ghetto again. The last time you tried that, you got mugged.
Those who say it cannot be done should not interrupt those who are doing it
  • #3,054
  • Aug 2, 2013 1:07am Aug 2, 2013 1:07am
And so. I start again with the cable. It shows that he wants to move to the line. The goal is the yellow line below 5091.
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"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #3,055
  • Aug 2, 2013 1:10am Aug 2, 2013 1:10am
Quoting PipTrapper
{quote} tsk tsk!! Don't go wandering into the ghetto again. The last time you tried that, you got mugged.
good advice
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #3,056
  • Aug 2, 2013 1:13am Aug 2, 2013 1:13am
One scenario for the euro.
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"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #3,057
  • Aug 2, 2013 1:23am Aug 2, 2013 1:23am
Sorry, but today there will be some more graphics for the euro.
You do you remember my dreams for over 3710 attack? Chart remember. If I think they can be implemented, I have to admit that the yellow line on 3134 will give support.
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"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #3,058
  • Aug 2, 2013 1:29am Aug 2, 2013 1:29am
Quoting PipTrapper
{quote} tsk tsk!! Don't go wandering into the ghetto again. The last time you tried that, you got mugged.

hahaha, no no, no fear. My mouth is closed. One can not crusade a cult, I just learned
  • #3,059
  • Aug 2, 2013 1:36am Aug 2, 2013 1:36am
Quoting godim
One scenario for the euro. {image}

Good morning Friends,


the impulse down, which started on Wednesday, seem to have ended this morning. At least all the waves are in place. I think we have a fairly good chance to retest the resistance layer starting around 3245 to 3275.

Yesterday evening I already provided my market profile analysis. In case you missed it, here it is again:


Playing field



pick your S/R levels



3329

3276-3227 seems to need a volume-fill

3206 is huge



3189 may divide between bulls and bears (this mornings low was 3188)



3123 may be rather weak



3096 hard to crack

3088 hard to crack



3035-3201 needs volume fill



2998 may proof rather weak, but psychological important

2914


So take care - it is crazy Friday
  • #3,060
  • Aug 2, 2013 1:36am Aug 2, 2013 1:36am
Excursus
Rewrite the following expressiona as the product of positive exponents,
and then evaluate the expression when x =2

Do you know it?
Attached Image
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