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  • #855,021
  • Nov 20, 2013 6:10pm Nov 20, 2013 6:10pm
Attached Image (click to enlarge)
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I will place my Long entry just above the resistance with a 2% of trade float stop loss and vice versa for the short just below the support zone. Looking to take the trade in any direction with momentum as long as it's a valid breakout.
Taking responsibility means believing that your outcomes are self-generated
  • #855,022
  • Nov 20, 2013 6:12pm Nov 20, 2013 6:12pm
Quoting BeginnerJoe
People give too much credit to news events. The only reason prices move is to make money for the banks, and the news is irrelevant. More often than not the prices know what's in the news several days before it is announced. The trend before the news is the trend after the news. What happens in between is just an excuse to run the stops. Those are the best times for making pips.
I agree with you on that. I make all my pips before the big move. I always seem to give it back when the big move happens.
  • #855,023
  • Nov 20, 2013 6:23pm Nov 20, 2013 6:23pm
lol
  • #855,024
  • Nov 20, 2013 6:23pm Nov 20, 2013 6:23pm
I just realized that's a chart of the USD/CHF.. Derp.
Taking responsibility means believing that your outcomes are self-generated
  • #855,025
  • Nov 20, 2013 6:29pm Nov 20, 2013 6:29pm
Quoting disegnosys
{quote} I agree with you on that. I make all my pips before the big move. I always seem to give it back when the big move happens.
My result is opposite. more often than not I make no pips before news. When the news hits, the pips start to flow. In situations where I do have pips before news, I take them to make room for more pips during news.
  • #855,026
  • Nov 20, 2013 6:32pm Nov 20, 2013 6:32pm
Quoting John Gray
{quote} Today 1.34 held, not a good look for bears.
you think? It dropped from .3570ish but because it didn't slice through .34 it's not bearish?
  • #855,027
  • Nov 20, 2013 6:36pm Nov 20, 2013 6:36pm
Quoting aBitWonKy
{quote} you think? It dropped from .3570ish but because it didn't slice through .34 it's not bearish?
Not too bearish. I think the banks are going to leave it ranging for a few days. Before making the next move, they need to get rid of the shorters who jumped on board today.
  • #855,028
  • Nov 20, 2013 6:51pm Nov 20, 2013 6:51pm
Quoting BeginnerJoe
{quote} Not too bearish. I think the banks are going to leave it ranging for a few days. Before making the next move, they need to get rid of the shorters who jumped on board today.
who are these shorters the banks 'need' to remove? Retail? I doubt banks need to do anything with retail. Retail does it to itself.
  • #855,029
  • Nov 20, 2013 6:51pm Nov 20, 2013 6:51pm
Quoting BeginnerJoe
People give too much credit to news events. The only reason prices move is to make money for the banks, and the news is irrelevant. More often than not the prices know what's in the news several days before it is announced. The trend before the news is the trend after the news. What happens in between is just an excuse to run the stops. Those are the best times for making pips.
"Some people give too much credit to" sensless thoughts.

If "The trend before the news is the trend after the news" and "the news is irrelevant" well guess what? Market is trendable in only one direction!

What is the difference between retail traders and hedge funds, banks...?
Retail traders try to catch a move from news released... while hedge funds that have anticipated age ago scenarios are wondering what to do with current trades: (Cover, Hedge, Close, Add, Partial close...)

That's why we use to say market is unrational... only because you can't figure it out neither do I but at least I know why.

Anyway, find right pullbacks guys and let's short this eurusd to make dirty pips.
$10K Live Account... 3 months investor testing!
  • #855,030
  • Nov 20, 2013 6:57pm Nov 20, 2013 6:57pm
Quoting BeginnerJoe
{quote} Not too bearish. I think the banks are going to leave it ranging for a few days. Before making the next move, they need to get rid of the shorters who jumped on board today.
the setting is definitely bearish. Problem is if you want to short now or some level above. I don't feel comfy now. ATM I see 13374 as support and 13477 as resistance.
Below 13414 I will bet on TP 13374.

On the fundamental side, ECB Noyer's comments on no sign of general deflation in EZ could be yet to be priced in. Bullard sees this risk in US.
  • #855,031
  • Edited 7:30pm Nov 20, 2013 7:14pm | Edited 7:30pm
Quoting milam
I do not give a F@ck about news, but I like them, if they go against me, well that it is all part of the deal, when they push price in my direction, often the pay also my costs.
I do not give a fuck about news either. And I like the market to be messed up by news. It offers opportunities for me to enter and exit the market.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #855,032
  • Nov 20, 2013 7:32pm Nov 20, 2013 7:32pm
Has anyone been having this "problem" with their broker? Look at all the wicks, just about every minute bar in the last few hours has been spiking up and down a couple pips 10 or so times a minute. This time of night my broker normally doesn't move much, I have fixed 1 pip spread so it's as if my broker themselves are getting a widened spread from whoever is giving them quotes so the price they quote me is bouncing back and forth between the bid/ask they are offered?

Normally from late evening until now-ish price barely moves, it's never jumped up and down all evening like this by a few pips at a time and just wondered if anyone else saw it today? I am using a UK based broker.

I say "problem" because it's been a little crazy trading wise, after a while when I realised what was going on I just mashed the buy/sell button at the top and bottom of each wick, I made just 1-2 pips at a time but I have put in 147 trades so far this evening so .... I lost a few pips each time it moved away from the area, but when the next minute bar started jumping again I went right back to it! I hope they don't try to take my money away after this
Attached Image (click to enlarge)
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  • #855,033
  • Nov 20, 2013 7:42pm Nov 20, 2013 7:42pm
praying to the currency gods for a EU/GU rally, what a great shorting opportunity that would be.
  • #855,034
  • Nov 20, 2013 7:50pm Nov 20, 2013 7:50pm
Quoting Ck87
praying to the currency gods for a EU/GU rally, what a great shorting opportunity that would be.

unless 1.3405ish holds... good luck. I missed the train because I was anticipating 1.363 first, ended up scalping a measly 24 pips instead.
  • #855,035
  • Nov 20, 2013 7:53pm Nov 20, 2013 7:53pm
Quoting Ck87
praying to the currency gods for a EU/GU rally, what a great shorting opportunity that would be.
Trend for eu n au is just turning to bearish on H4.....
The momentum is berish as well...
Perhaps it will test 1.31xx by next week...
Peace Yo!
  • #855,036
  • Nov 20, 2013 8:01pm Nov 20, 2013 8:01pm
Quoting ffleo
{quote} what matters is the ratio U/J
Yes Guru whatever those words mean
  • #855,037
  • Nov 20, 2013 8:01pm Nov 20, 2013 8:01pm
Quoting mrluckystar
{quote} Trend for eu n au is just turning to bearish on H4..... The momentum is berish as well... Perhaps it will test 1.31xx by next week...

Trend is and has been bearish on D1 as well, which is why they were such high % shorts last night. I was too busy on lower time frames being an idiot, the first major signs went off on EU around 1.3525 to go short. I still think we're going to go back down to 1.3 or lower, 1.32 minimum
  • #855,038
  • Nov 20, 2013 8:02pm Nov 20, 2013 8:02pm
(Reuters) -

Goldman Sachs Group Inc lost more than $1 billion on currency trades

during the third quarter, recent regulatory filings show, offering some insight into why the firm, considered one of Wall Street's most savvy traders, reported its worst quarter in a key trading unit since the financial crisis.

http://www.reuters.com/article/2013/...9AK01C20131121
________________________________ Errare humanum est
  • #855,039
  • Nov 20, 2013 8:03pm Nov 20, 2013 8:03pm
Quoting DasPips
{quote} unless 1.3405ish holds... good luck. I missed the train because I was anticipating 1.363 first, ended up scalping a measly 24 pips instead.

Yeah, I only mean like 20-30 pips or so. Not expecting a big jump at all, the momentum to downside is way too strong, should really just be short all the dollar pairs and turn off the computer.
  • #855,040
  • Nov 20, 2013 8:18pm Nov 20, 2013 8:18pm
Quoting Matts Micro
UJ soon to hit the sky imo.
Quoting Matts Micro
{quote} yah. I missed that GJ bo but hitting the 161 level now. the other pairs look over sold to me, perhaps a beginning of a pull back
formula for starting day: 1. coffee, 2. ciggy, 3. green pips
As the lights go by so too do the shadows move
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