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  • #850,561
  • Nov 5, 2013 1:44pm Nov 5, 2013 1:44pm
Quoting Miguel.N
{quote} good stuff, but it seems that before going lower it must go around 1.356 !?
Mm... maybe, sorry for late reply now EU is lower again

EURNZD is getting ripe for long hedge, last time I did it at 1.60 when NZDUSD around 80c EURUSD at ~1.37 actually went up 600 pips!? but I took 120 pips never traded it before didn't want to get caught out in it's volatility whatever my forecast was...

Kiwi sitting at 83c, got a bit of movement either side, but trading shorts to 80c, I have done this for a while and it works, usually wait for 85c but so be it, big account I can add a few smaller trades underwater wait for 0.858 for bigger trade, if it happens, if it doesn't well mini lots many profit.

Not betting on 90c or something ridiculous, NZDUSD bias is short for the time being. I will look to long EURNZD and possibly add more to EURGBP. I need something to hedge EUR shorts. Nothing moves in favour forever, but I be positive saying that nothing moves against you forever.

Need to remember market will do whatever it wants, and when its trending nobody can stop it!

I do believe 1.38 turned at 61.8 nicely, was reading a lot and magic did happen, could be pullback at this stage. Better have good news US

EURUSD well, is actually sitting below 50.0 fib now. implies nothing I wait for weekly close because NFP will overcome any move this week and hence overcome any analysis of any levels around market price...


On a side note, 1 more semester of university classes, doing risk management (options, futures, hedging strategies) next year which will be good.. Just wish my broker would support derivative trading - and actually reply to my emails.

Anyway good luck guys, hoping NZD news is good, will enter a short at the top of the spike in 2 hours
Even the worst trade can close with profit. Just give it time.
  • #850,562
  • Nov 5, 2013 1:52pm Nov 5, 2013 1:52pm
Quoting TauTrader
{quote} good day to you, Mr.M English is not my first language - and even in my mother tongue, I often struggle to get across what I meant to say. A true introvert. I do have a live account that I trade every year - the purpose of earning a free holiday in December. But I look around me and I think about the sh*t I am dealing with in my personal business - every day of my life - and I think I may want to up the ante on the forex front. I'm not getting any younger. For this, I need to invest more. Larger lots. Magnify what I was doing. How do I make...
Hey Tau,

you said you trade a demo and use small lots on a live.

personally if you're looking at making more money there's two options

1) Do MORE trades (stack up trades) - either same chart or different charts (But correlated). e.g. I entered EURNZD because I have net short exposure in EURUSD, but my most comfortable chart in NZDUSD. I was confident it would drop, so I longed EURNZD, it went up 600 pips, but only took 120 because chart was foreign to me - trying not to play with fire, when im a fish in water get cooked in 30 seconds

2) Do LARGER trades (please don't do both, you'll overleverage and blow account ) - MUST have trading strategy whether it be SL, counter trading, hedging whatever, people are for and against different things, but you should have something effective that works on the smallest trades

and i'm sure you have one, but if trades go against you, you need some sort of mechanism in place to stop FREE MARGIN getting drained. Free Margin very different to equity, if free margin=0 you get margin called I believe.

Equity - Margin = Free Margin. Margin dependant on market exposure, number of NET lots in a chart. e.g. if you're perfectly hedged margin=0
But some forget when you break the hedge, margin increases and some get called that way under pressure!

PS. I traded demos for a year. Traded $50 accounts for 2 years and opened live account last September. The money is not mine, but I treat it like I am the owner - and in doing that client and I face good prospects!

Aiming for 100k by end of 2014. If we get their I will let you know starting balance

GL

will be active opposite time, about 12 hours difference, kiwi evenings
Even the worst trade can close with profit. Just give it time.
  • #850,563
  • Nov 5, 2013 1:58pm Nov 5, 2013 1:58pm
This hasn't broken any strong resistance downwards yet. Don't write off a retracement to 13650
  • #850,564
  • Nov 5, 2013 2:06pm Nov 5, 2013 2:06pm
Good Morning (evening to most)

Final pic before off for the day.

We need a break of this sloped TL downwards, tested twice but no success. so can't write off retracement. You know what, never can write off a retracement ever.

But this picture indicated a break below 1.344 to get out of consolidation phase - and then below lower TL of upward channel at... ~1.3400 then we looking major bear run. Until then, im neutral because we are in consolidation inside two opposing trendlines
Attached Image (click to enlarge)
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Even the worst trade can close with profit. Just give it time.
  • #850,565
  • Nov 5, 2013 2:13pm Nov 5, 2013 2:13pm
it needs to get above the TL otherwise it looks like it may want 1.34, and it looks like it's really struggling to do so..

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  • #850,566
  • Nov 5, 2013 2:56pm Nov 5, 2013 2:56pm
Quoting Magix
Until... I started trading for others.
Just coming around, am leaving and last checking trades from PC. I like the idea. Quite a few of my mates already offered me their cash. Never took any, got enough of stress with myself.

T
"I know one thing, that I know nothing." Sokrates
  • #850,567
  • Nov 5, 2013 2:58pm Nov 5, 2013 2:58pm
Quoting gatorinla
{quote} i find it easier to ask if one is long or short. i am still short hard s/l 3655 and target atm 3110... will move both lower as goes my way or close earlier if i think we will go above s/l. so where will u long/ s-l on the way to 3700?
you are right, we are in down trend, but what do you think about this chart ? ...it seems that it missed a stop so it must go back before continuing short ?
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  • #850,568
  • Nov 5, 2013 3:08pm Nov 5, 2013 3:08pm
Quoting Tom_D_Trader
{quote} Just coming around, am leaving and last checking trades from PC. I like the idea. Quite a few of my mates already offered me their cash. Never took any, got enough of stress with myself. T
Get that shit sorted before you take on money from others.

And

NEVER, EVER, EVER do business with friends.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #850,569
  • Nov 5, 2013 3:25pm Nov 5, 2013 3:25pm
some guys here are hoping this ?

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or this ?
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  • #850,570
  • Nov 5, 2013 3:32pm Nov 5, 2013 3:32pm
large EURGBP volume today.

~15% greater than average AUDUSD volume

mixed EUR volume, notably weak on the way down today

GBPUSD ~30% greater than average around PMI but settled down quickly

USDJPY boring as fuck... just was marked to USTs all day on low volume
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  • #850,571
  • Nov 5, 2013 3:35pm Nov 5, 2013 3:35pm
kiwi data in 15mins then aussie in just under 3hrs,worth an eyeball, then stuff all until gbp tonight,

eu has been compressing for last 6hrs, BO should be decent shes @ support, swissy @ resistance, might be a wtf day
If you are new to Forex? Say Goodbye to your account!!
  • #850,572
  • Nov 5, 2013 3:36pm Nov 5, 2013 3:36pm
Quoting JeremyWS
large EURGBP volume today. ~15% greater than average AUDUSD volume mixed EUR volume, notably weak on the way down today GBPUSD ~30% greater than average around PMI but settled down quickly USDJPY boring as fuck... just was marked to USTs all day on low volume {image}
Jeremy, do you have Citi's desk updates?
"It's the Margin, Stupid."
  • #850,573
  • Nov 5, 2013 3:41pm Nov 5, 2013 3:41pm
Quoting Vachus
{quote} Jeremy, do you have Citi's desk updates?
not yet.
  • #850,574
  • Nov 5, 2013 3:47pm Nov 5, 2013 3:47pm
Quoting Miguel.N
{quote} you are right, we are in down trend, but what do you think about this chart ? ...it seems that it missed a stop so it must go back before continuing short ? {image}

this is the only one i find on a eu month chart. last month is not perfect. its more then the 10% usually used. ... but it fit my other signs.. in the one in the chart was a 4100 pip drop on the eu
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those who can, do. those who cant, talk about those who can
  • #850,575
  • Nov 5, 2013 3:54pm Nov 5, 2013 3:54pm
What are peoples opinions this week? I cannot fathom a EU rate cut. It just isn't EU style.


Continue as she goes methinks. Back towards 140 by weeks end.
  • #850,576
  • Nov 5, 2013 3:54pm Nov 5, 2013 3:54pm
does daily candle close?? or after 6 minutes ??
i have problem with pc ,
  • #850,577
  • Nov 5, 2013 3:57pm Nov 5, 2013 3:57pm
Quoting weathercheck
What are peoples opinions this week? I cannot fathom a EU rate cut. It just isn't EU style. Continue as she goes methinks. Back towards 140 by weeks end.
can this be charted or measured?
those who can, do. those who cant, talk about those who can
  • #850,578
  • Nov 5, 2013 3:58pm Nov 5, 2013 3:58pm
Quoting weathercheck
What are peoples opinions this week? I cannot fathom a EU rate cut. It just isn't EU style. Continue as she goes methinks. Back towards 140 by weeks end.
yeah totally not the ECB's style, only 4 cuts in the past 2 years....

lol!
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  • #850,579
  • Nov 5, 2013 4:01pm Nov 5, 2013 4:01pm
Quoting gatorinla
{quote} this is the only one i find on a eu month chart. last month is not perfect. its more then the 10% usually used. ... but it fit my other signs.. in the one in the chart was a 4100 pip drop on the eu {image}
ok i am agree, so now we'll see the way it'll gos down !?
  • #850,580
  • Nov 5, 2013 4:02pm Nov 5, 2013 4:02pm
Quoting gatorinla
{quote} can this be charted or measured?
Going off this trendline on 4hr
Attached Image (click to enlarge)
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