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Help Me Establish The GbpUsd After Dinner Club 40 replies

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The Club!

  • #12,421
  • Dec 3, 2013 4:43pm Dec 3, 2013 4:43pm
Quoting infinitus
{quote} not only individual clients, brokers, investment companies and hedge funds
...which are clients of Dukascopy.
This means they are large retail... not market makers.
Those who say it cannot be done should not interrupt those who are doing it
  • #12,422
  • Dec 3, 2013 4:59pm Dec 3, 2013 4:59pm
Quoting 2046
{quote} eeks.. the failure of 3450 prints a very ambiguous picture, not a turn I favoured. D1 R1 is 35600, R2 3600 and R3 36600
yeh right and not much changed since, except this new flaggy feature that tells me I am a medium impact member/ top 3% - a shockingy deviation from the no impact / top 97% I perceive myself.
  • #12,423
  • Dec 3, 2013 5:03pm Dec 3, 2013 5:03pm
Quoting infinitus
the wisdom of the retail trader http://www.sciencedaily.com/releases...0425140501.htm
"The study shows that retail traders buy in advance of price increases and sell in advance of price decreases that occur over the next month."

We already know that. The retail traders are premature (early) in their executions, and in the majority of cases, by the time their buys would be in profit, they have already capitulated and are selling... and vice versa.

The ones that trade without stop loss and exercise patience have the higher chance of actual gains, but that time exposure also leaves them vulnerable to changes in the macroeconomic climate (tail risk).

Then there are those who exercise the same patience as the second group, but use tight stops against hard support/resistance and as such they cut their losers very quickly and let their winners run for as long as possible. This group has a very low win ratio, but their RRs are high so they are actually the most profitable.

So why are the majority in the first group? Trader psychology is set up that way by default. They quickly want to take profits when they see green, but they hang on to their losers in hope that they will be proven right. The successful ones are the ones that get lucky, but luck runs out at some point.

As for the second group, these are mostly fundamental traders. The ones that succeed are those with a deep understanding of capital flows and the effects of interest rates, sociopolitical risks and have good to excellent tech analysis skills.

The third group is made up of mostly technical traders (Chart technicians if you wish). For them, news means nothing. They just play levels and have very tough skin. 10 losses in a row don't bother them because they have full confidence that they will hit paydirt on the next trade. These traders deserve medals for their fortitude, but will probably die at a young age.
Those who say it cannot be done should not interrupt those who are doing it
  • #12,424
  • Dec 3, 2013 5:31pm Dec 3, 2013 5:31pm
hey youre top of the pops pip trapper

guess ill get used to it, just making fun of it at moment
  • #12,425
  • Dec 3, 2013 5:33pm Dec 3, 2013 5:33pm
Quoting PipTrapper
{quote} "The study shows that retail traders buy in advance of price increases and sell in advance of price decreases that occur over the next month." We already know that. The retail traders are premature (early) in their executions, and in the majority of cases, by the time their buys would be in profit, they have already capitulated and are selling... and vice versa. The ones that trade without stop loss and exercise patience have the higher chance of actual gains, but that time exposure also leaves them vulnerable to changes in the macroeconomic...

who drinks good wine the next day does not hurt her head ..
  • #12,426
  • Dec 4, 2013 1:35am Dec 4, 2013 1:35am
Well, today's intraday plan ...

BUY @1.35685 TG 1.36624 (Buy alredy in, just some minutes ago)
PO SELL @1.3660 TG 1.3419
PO SELL @1.3548 TG 1.3419
  • #12,427
  • Dec 4, 2013 1:59am Dec 4, 2013 1:59am
Quoting PipTrapper
{quote} ...which are clients of Dukascopy. This means they are large retail... not market makers.

well, retail does normally mean us, the small beans. And then there are the institutional, like broker, funds, hedge funds etc.

They are all thrown in the mix




http://www.investopedia.com/terms/r/retailinvestor.asp


Definition of 'Retail Investor'

Individual investors who buy and sell securities for their personal account, and not for another company or organization.

Also known as an "individual investor" or "small investor".
Investopedia explains 'Retail Investor'

Retail investors buy in much smaller quantities than larger institutional investors.


The data, as I understand, is the data Dukascopy can access through their SWFX marketplace. That can also involve non-Dukascopy clients
  • #12,428
  • Dec 4, 2013 2:01am Dec 4, 2013 2:01am
looking at volume at the recent top between 3495 and 3625 over time


interest in the top is diminishing?
Attached Image
  • #12,429
  • Dec 4, 2013 2:46am Dec 4, 2013 2:46am
???!!!

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 71 KB
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #12,430
  • Dec 4, 2013 3:13am Dec 4, 2013 3:13am
Quoting godim
{quote} gbp/usd H4 {image}
Alert! 6341 Alarm!

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 68 KB
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #12,431
  • Dec 4, 2013 8:07am Dec 4, 2013 8:07am
Quoting godim
{quote} Alert! 6341 Alarm! {image}
Break below criteria? End of the trend?

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 68 KB


The level is 6351 (resistance)
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #12,432
  • Dec 4, 2013 8:20am Dec 4, 2013 8:20am
Quoting godim
{quote} Break below criteria? End of the trend? {image} The level is 6351 (resistance)
We will know when we reach 1.6240 support. Do you have that number on the gann chart?
Those who say it cannot be done should not interrupt those who are doing it
  • #12,433
  • Dec 4, 2013 8:58am Dec 4, 2013 8:58am
Quoting PipTrapper
{quote} We will know when we reach 1.6240 support. Do you have that number on the gann chart?
yes. normal movement.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 82 KB
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #12,434
  • Dec 4, 2013 8:59am Dec 4, 2013 8:59am
Quoting godim
{quote} yes. normal movement. {image}
Thanks Godim. I had 6160 in mind, but 6107 sounds better.
Those who say it cannot be done should not interrupt those who are doing it
  • #12,435
  • Dec 4, 2013 9:34am Dec 4, 2013 9:34am
Quoting godim
{quote} Break below criteria? End of the trend? {image} The level is 6351 (resistance)
Agree, i am shorting soon, on break bellow 1.6320.
As well as short of GJ when support is taken, both of them (+other GBP pairs) should create 500 pips gains on retracement, once they start. We just need to turn damn Englander down.

EA long seems tempting too.

Banged 20 pips on EU short after news for today.
  • #12,436
  • Dec 4, 2013 10:03am Dec 4, 2013 10:03am
Quoting janpec1000
{quote} Agree, i am shorting soon, on break bellow 1.6320. As well as short of GJ when support is taken, both of them (+other GBP pairs) should create 500 pips gains on retracement, once they start. We just need to turn damn Englander down. EA long seems tempting too. Banged 20 pips on EU short after news for today.
I have tried several times to explain what I'm looking for a secure entrance. Looking for a "clean" resistance without penetration. Penetration means that the level is still no breakthrough. And the price could come back again to a level even above it. Then you can look for a new entrance for short and to monitor the level of criteria.

Attached Image (click to enlarge)
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"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #12,437
  • Dec 4, 2013 10:43am Dec 4, 2013 10:43am
Alright didnt mean to imply how you should or will trade it, i just said thats where my entry will be acording to my system.
  • #12,438
  • Dec 4, 2013 1:55pm Dec 4, 2013 1:55pm
http://www.actionforex.com/analysis/...x+%28ALL%29%29

ECB Preview: Mind the Inflation Gap
  • #12,439
  • Dec 4, 2013 3:04pm Dec 4, 2013 3:04pm
Volume observation at the low of the day

EU
Attached Image (click to enlarge)
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  • #12,440
  • Dec 4, 2013 3:09pm Dec 4, 2013 3:09pm
Quoting infinitus
Volume observation at the low of the day EU {image}
It looks like the bear fell down the hill
Those who say it cannot be done should not interrupt those who are doing it
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