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  • #851,321
  • Nov 7, 2013 10:36am Nov 7, 2013 10:36am
who knows. a rate cut was probably what eu needed to start its way out of recession. now lets see what Ben brings tomorrow after the news
  • #851,322
  • Nov 7, 2013 10:38am Nov 7, 2013 10:38am
Quoting JeremyWS
Very large volume today unsurprising but double the average since ECB {image} {image}

How many trillions ?
  • #851,323
  • Nov 7, 2013 10:40am Nov 7, 2013 10:40am
very bearish pin on the EUR/USD 15minute
  • #851,324
  • Nov 7, 2013 10:40am Nov 7, 2013 10:40am
Quoting dyee630k
it safe to assume that the retrace back into the 140 pip drop immediately following the rate cute should be minimal?
Well imo it is safe, I actually dont care, my SL 1,374 and TP 1,32. Just having fun.
"I know one thing, that I know nothing." Sokrates
  • #851,325
  • Nov 7, 2013 10:41am Nov 7, 2013 10:41am
Now some of my shorts are in profit. I am too greedy to take. I might have to kick myself later. I'll give this short run 2 more days. Hmmm, or maybe 1 day since there is only Friday left in the week.
  • #851,326
  • Nov 7, 2013 10:42am Nov 7, 2013 10:42am
Quoting OfWolfAndMan
{quote} How many trillions ?
impossible to tell, This is volume based of the Reuters matching ECN - which I think is the second largest but this will be similar to most other ECNs and OTC venues. Reuters is about 150 billion a day, with something like 30% being EUR. so as its double I would suggest that nearly 100 billion has traded on reuters today, similar amounts across the main ECNs, FXall, Currenex, 360T, tradebook etc. but the daily EURUSD volume is ~1.28 Trillion, but we will probably end the day with 2+ trillion traded across spot and forwards etc.
  • #851,327
  • Nov 7, 2013 10:43am Nov 7, 2013 10:43am
Quoting Pip.Sniper
{quote} i am doing opposite brother i hope you are right, because i love to be wrong, when iam wrong i learn some thing and it is a good business to learn few things with few $ loss especially in forex where we make 10's of $$ every day. anyways made a lot of pips today again 500 pips trade EUR/USD EUR/JPY GOLD all long no selling waited for the dip and bought. i trade only 1 direction i choose my direction according to fundamentals i know rate cut waoo every one thinks EURUSD will hit 1.20 but the fact is after the rate cut Export will boost cheap...
good job. you are scalping master, 96% yearly winning rate.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #851,328
  • Nov 7, 2013 10:50am Nov 7, 2013 10:50am
Quoting ffleo
{quote} good job. you are scalping master, 96% yearly winning rate.
thank you iam not master brother iam just a trader who makes good profit from Forex living on Forex income.
that's all.
yes iam good at what i do because it took me years to learn forex its not easy to make money in ofrex one day you win second day you loose most traders loose their money in 6 months maximum that is fact if you can survive for more then 6 months and have constant profit every month then you cn be very much successful trader,
wish you all the best.
The Ones who make it, are the the ones who Manage RISK
  • #851,329
  • Nov 7, 2013 10:55am Nov 7, 2013 10:55am
expect twitter to rally fast and then continue gradually higher AND THEN fall HARD so HARD to opening price and below(it will take months) it will surprise everyone. not me
  • #851,330
  • Nov 7, 2013 10:59am Nov 7, 2013 10:59am
Quoting JeremyWS
{quote} impossible to tell, This is volume based of the Reuters matching ECN - which I think is the second largest but this will be similar to most other ECNs and OTC venues. Reuters is about 150 billion a day, with something like 30% being EUR. so as its double I would suggest that nearly 100 billion has traded on reuters today, similar amounts across the main ECNs, FXall, Currenex, 360T, tradebook etc. but the daily EURUSD volume is ~1.28 Trillion, but we will probably end the day with 2+ trillion...

What stands first?
  • #851,331
  • Nov 7, 2013 11:02am Nov 7, 2013 11:02am
Quoting OfWolfAndMan
{quote} What stands first?
FX alliance is the largest ECN, but that is now owned by reuters and will soon be incorporated into this volume heatmap but not yet.
  • #851,332
  • Nov 7, 2013 11:03am Nov 7, 2013 11:03am
Quoting OfWolfAndMan
{quote} What stands first?
I think CME and Reuters are comparable and both are slightly bigger than EBS. If you include FXall (including the corporate RFQ platform and Accelor/Lava) in Reuters than Reuters is probably the biggest.
  • #851,333
  • Nov 7, 2013 11:03am Nov 7, 2013 11:03am
Quoting Fx-gtg
expect twitter to rally fast and then continue gradually higher AND THEN fall HARD so HARD to opening price and below(it will take months) it will surprise everyone. not me
So you mean like almost every other tech IPO that was massively overvalued for a short time after going public while the masses fed into the buying frenzy and the underwriting banks quietly sold knowing full well what was going on.
  • #851,334
  • Nov 7, 2013 11:05am Nov 7, 2013 11:05am
Quoting Tom_D_Trader
{quote} Hope 1,374 is ok .
The prophet seems to be on a rampage here calling everyone in the forum "1.40 retail morons" a few figure Correction does wonders for the mind..

Good bounce off the weekly 1.33333 demand zone.. may be a knee jerk reaction to ECB..
tommorrow's NFP may be a No Fun Party for one side of the opposing camps..


Quoting okanemici
{quote} I wish I had HFT because my eyes are hurting most of the time because of screen light. Wish you many pips
Ways to Prevent Computer Eye Strain?
http://l.yimg.com/ck/image/A1108/110...70_1108288.jpg

Nice dip here on EJ with EU & UJ doing the "Push Pull Foxstrot" steps here.. & Daily Gold is painting an "Inverted Half Diamond".. interesting times ahead..
Cheers..
  • #851,335
  • Nov 7, 2013 11:07am Nov 7, 2013 11:07am
Quoting JeremyWS
{quote} FX alliance is the largest ECN, but that is now owned by reuters and will soon be incorporated into this volume heatmap but not yet.
Sounds good..
  • #851,336
  • Nov 7, 2013 11:14am Nov 7, 2013 11:14am
Quoting Tom_D_Trader
{quote} Dunno, its just mathematics. I aint saying it is a good trading plan, but imho can work. I can imagine it like this: You got consolidation range @ some support and expect it will go up 75% and down 25%, so you open 3 longs and one short with SL on breakzone. If you are right, you are rich, if not, short entry covers SL of those wrong longs. I really dont want to defend strategy I dont use and dont understand to, but as I ve said, many ways to skin a cat, and mathematics can be powerfull tool. Though needed to say here, that for range break,...
i dont have a problem scalping a different direction then my longer term trades.
as for as math goes. its no different then the truth.. math is always true. i dont have a problem with the math. i have a problem with the questions asked of math.

we had a guy recently leave here with this mindset.
so in your own mind at what point would the laying of short trades stop? for instance from 3105 to 38xx.. at what % and how often add, before the account runs out of funds? and at what point does one start longing or do you close? and when longing, is the % more or =... and if more, at a point like near 38xx when longs were talked about, by the guy using this strategy. was it more = or less. if = the down move was no gain.. it just erased losses. so months were wasted.
those who can, do. those who cant, talk about those who can
  • #851,337
  • Nov 7, 2013 11:24am Nov 7, 2013 11:24am
I wasn't expecting EUR/USD to drop that fast while i was away....It bothers me alot.

My profit target was around 1.32620, but i decided to close out my position to be on the safe
side, and avoid a Non-Farm Payroll Crossfire (Friday)....I still believe that EUR/USD will
reach that target sooner or later....

The overall market (EUR/USD) is still on the downside, and that big drop this morning has been
retraced to a 61.8% Fib Line, and I think that the pair needs to trade sideways for a bit, since
retail traders (including myself) are a bit worried about that dang NFP report....

While indecision is kicking in so hard, we must WAIT and WAIT!!!!

If I have to make a case to open new positions, this is what I am looking at....

1- I can go SHORT for a quick profit at 1.33400 ish

2- Reverse it to go LONG for a quick profit at 1.34800

3- Finally Enter at 1.34800 (short) and reach my final profit target at 1.32620

Anything is possible at this point, but I will definitely get caught on the NFP report tho.....

Attached Image (click to enlarge)
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Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #851,338
  • Nov 7, 2013 11:25am Nov 7, 2013 11:25am
Quoting gatorinla
so in your own mind at what point would the laying of short trades stop?
I really dont know Gator, I am incredibly slow trader and always trade in one direction (Currently would be longing EU till 1,42, but since I have liquidated all positions before summer and switched broker, am just enjoying correction down). So covering my SL with opposite trades and just paying commissions seems noncence to me. Nevertheless, it can work for somebody .
"I know one thing, that I know nothing." Sokrates
  • #851,339
  • Nov 7, 2013 11:29am Nov 7, 2013 11:29am
Quoting Tom_D_Trader
{quote} I really dont know Gator, I am incredibly slow trader and always trade in one direction (Currently would be longing EU till 1,42, but since I have liquidated all positions before summer and switched broker, am just enjoying correction down). So covering my SL with opposite trades and just paying commissions seems noncence to me. Nevertheless, it can work for somebody .
and it does not work in the long run. in one trade it covered your stoploss of the opposite trades, in the next trade it ate the profit of the opposite trades. when you run many rounds of trades, all things canceled out, you end up paying commission.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #851,340
  • Nov 7, 2013 11:33am Nov 7, 2013 11:33am
Quoting Tom_D_Trader
{quote} I really dont know Gator, I am incredibly slow trader and always trade in one direction (Currently would be longing EU till 1,42, but since I have liquidated all positions before summer and switched broker, am just enjoying correction down). So covering my SL with opposite trades and just paying commissions seems noncence to me. Nevertheless, it can work for somebody .
the only scenario i can think of is that, you take one big short at the top, take a small long near the bottom for the retrace. why not just close part of your big short, because taking a small long is the same as doing that? as long as you have a clear math mind, you will do the simple way, not the complicated way that will confuse you some point in the way.
ignore wackos and psychos, including myself. But I can't add myself to iggy
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