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  • #861,461
  • Dec 7, 2013 12:56pm Dec 7, 2013 12:56pm
Got caught in a short position after strong employment numbers inticed me in on Friday and watched the market reverse with severe force and finish the day at high. Anyone have a game plan for trading this pair on Monday, I do want to trade but am reluctant to do anything incase of directionless volatility again, anyone have a game plan??
  • #861,462
  • Dec 7, 2013 1:03pm Dec 7, 2013 1:03pm
Quoting Avir
{quote} I am just going to enjoy the show and keep scalping till that one spike - if i am lucky to catch it having said that i cant trade on Monday due to some appointment - hope it is not that day!
Not to worry, its not the day
"It's the Margin, Stupid."
  • #861,463
  • Dec 7, 2013 1:06pm Dec 7, 2013 1:06pm
Quoting Vachus
{quote} Not to worry, its not the day
Ow , Thank you mate... bit relieved that some one els thinking the same
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #861,464
  • Dec 7, 2013 1:09pm Dec 7, 2013 1:09pm
Quoting Vachus
{quote} If Draghni wanted to say something about the exchange rate , he would have said it. Here is a more interesting fact: Before this ECB meeting , the Euro index touched the top and stayed there - before even EURUSD make it towards 1.37. The index is much more important for an ECB policy then EURUSD ( Holding at 3 years high) ... so , it was happening and he didn't comment ?! It doesn't make any sense to comment now ! The move is completely authentic , its not a squeeze and its not an extension IMHO... I'm planning to relax, enjoy the show and...
What's the logic for EURUSD to go up? Or is it stupid to ask whether there is a logic? Is it because of the Japanese desperate to spend their toilet paper currency on whatever they can buy?

I can see that it wants to go up from a technical point of view despite many think it would have gone down, but something just don't feel quite right.

I've read about that someone try to explain the EUR strength against USD as because Fed has already successfully separated "Tapering" from "Tightening", but how can Fed continue to deprive long term interest rate if they don't spend $85bil a month on treasuries?
  • #861,465
  • Dec 7, 2013 1:12pm Dec 7, 2013 1:12pm
Quoting Eurusdd
I believe that there is a threshold for a successful account. A trader with $5,000 has very little excuse, If he loses his account. Anything below $2,000 and the pressure to make money is, ..... Point is: with $5,000 ; you should make at least $300 daily. worst-case scenario for a profitable account.
profit 300 on a 5000 account daily that is 6% daily. Suppose you do not compound in the month until next month, that is 120% for a month. Now suppose you compound for each next month, that is 891% for a year. 8.91X for a year!

Can you make 8.91 times a year? And you said at least 6% daily!! that is at least 1.2 times monthly. and you said that is the worst case for a profitable account. are you real? what pipe are you smoking??
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #861,466
  • Dec 7, 2013 1:17pm Dec 7, 2013 1:17pm
Quoting ffleo
{quote} profit 300 on a 5000 account daily that is 6% daily. Suppose you do not compound in the month until next month, that is 120% for a month. Now suppose you compound for each next month, that is 891% for a year. 8.91X for a year! Can you make 8.91 times a year? And you said at least 6% daily!! that is at least 1.2 times monthly. are you real?
I think it is a very tall order to make 6% daily consistently too.

Btw, correct me if I am wrong, I think 6% daily compound for a year is (1+0.06)^20^12=1184152.57x (assuming 20 trading days per month)

Start with $5000 on 1st Jan, by 31st Dec you will have $5,920,762,872.69, you are still poorer than Bill Gates, but there wont be many on this planet richer than you
  • #861,467
  • Dec 7, 2013 1:22pm Dec 7, 2013 1:22pm
Quoting Darkforce
{quote} I think it is a very tall order to make 6% daily consistently. Btw, correct me if I am wrong, I think 6% daily compound for a year is (1+0.06)^20^12=1184152.57x
I gave him a little room, not to compound in the same month. Only let him compound on monthly basis, not daily basis. Even though how can he achieve 8.9 times for the worst scenario? He said that is the worst scenario.

I had some interest in figuring out his strategy before, now he lost all credibility.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #861,468
  • Dec 7, 2013 1:35pm Dec 7, 2013 1:35pm
Quoting ffleo
{quote} profit 300 on a 5000 account daily that is 6% daily. Suppose you do not compound in the month until next month, that is 120% for a month. Now suppose you compound for each next month, that is 891% for a year. 8.91X for a year! Can you make 8.91 times a year? And you said at least 6% daily!! that is at least 1.2 times monthly. and you said that is the worst case for a profitable account. are you real? what pipe are you smoking??
Haha, ffleo. You are funny. I do not smoke.

Truth is I do not trade forex to become a billionaire. I just want to make my weekly $10,000. Once made, anything else is for fund. I am not into the compounding business.
  • #861,469
  • Dec 7, 2013 1:37pm Dec 7, 2013 1:37pm
Quoting Darkforce
{quote} What's the logic for EURUSD to go up? Or is it stupid to ask whether there is a logic? Is it because of the Japanese desperate to spend their toilet paper currency on whatever they can buy? I can see that it wants to go up from a technical point of view despite many think it would have gone down, but something just don't feel quite right.[b] I've read about that someone try to explain the EUR strength against USD as because Fed has already successfully separated "Tapering" from "Tightening", but how can Fed continue to deprive long term...
Lack of reason , is what driving the Euro up ...

Late them taper first and then we will see what happens with interest rates - you are jumping the gun here, they haven't even started reducing the bond buying program and you worry over interest rates.

So, for now, markets are pricing in the December tapering bluff
"It's the Margin, Stupid."
  • #861,470
  • Dec 7, 2013 1:38pm Dec 7, 2013 1:38pm
Quoting ffleo
{quote} profit 300 on a 5000 account daily that is 6% daily. Suppose you do not compound in the month until next month, that is 120% for a month. Now suppose you compound for each next month, that is 891% for a year. 8.91X for a year! Can you make 8.91 times a year? And you said at least 6% daily!! that is at least 1.2 times monthly. and you said that is the worst case for a profitable account. are you real? what pipe are you smoking??
Haha ffleo. You are funny. I do not smoke./

i am not in the forex world to become a billionaire. Therefore, I am not a member of the compounding club. For me, $10,000 a month is ok. Anything else is fun. It does not matter how much I have in my account. That is why I said, most of us have no excuse when we lose our account. We are under pressure to grow it quickly and compound.....
  • #861,471
  • Dec 7, 2013 1:38pm Dec 7, 2013 1:38pm
Quoting Eurusdd
{quote} Haha, ffleo. You are funny. I do not smoke. Truth is I do not trade forex to become a billionaire. I just want to make my weekly $10,000. Once made, anything else is for fund. I am not into the compounding business.
You make them with a broker or on your computer excel sheet ?! ..
"It's the Margin, Stupid."
  • #861,472
  • Dec 7, 2013 1:40pm Dec 7, 2013 1:40pm
The market is not in a given mood all the time, expecting from it will just makes you out of line, you will be under pressure and you will not be able to see the right opportunities……..One has to learn that...

6% a day? I think that is kids stuff……demo or tiny account…….

On larger accounts mr Ego comes to play…...
Wherever you go, there you are.
  • #861,473
  • Dec 7, 2013 1:42pm Dec 7, 2013 1:42pm
Monday should go down a little then make HH
Tuesday LL ending with HH (whipsaw)
Wednesday BIG FALL
A good trader follows his rules, but great trader knows when to break them
  • #861,474
  • Dec 7, 2013 2:03pm Dec 7, 2013 2:03pm
Quoting Vachus
{quote} You make them with a broker or on your computer excel sheet ?! ..
Believe whatever you want. No need to go down that line if you believe that is money!!
  • #861,475
  • Dec 7, 2013 2:04pm Dec 7, 2013 2:04pm
Quoting Eurusdd
{quote} Believe whatever you want. No need to go down that line if you believe that is money!!
enjoy your pipe

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ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #861,476
  • Dec 7, 2013 2:05pm Dec 7, 2013 2:05pm
Quoting milam
The market is not in a given mood all the time, expecting from it will just makes you out of line, you will be under pressure and you will not be able to see the right opportunities……..One has to learn that... 6% a day? I think that is kids stuff……demo or tiny account……. On larger accounts mr Ego comes to play…...
How much does it take to make $300 daily?

with $5,000 and $5/pip or $10/pips you just need one good 30pips or 60pips shot!! U want to tell me you can't get that?

You can't study your chart and get that special 30pips?? LOL, you need a new business!!!
  • #861,477
  • Dec 7, 2013 2:06pm Dec 7, 2013 2:06pm
There are 24 1hr bars and 6 4hr bars. 30 pips is not that difficult to make if you are fixed on just 30pips and nothing else
  • #861,478
  • Dec 7, 2013 2:09pm Dec 7, 2013 2:09pm
Quoting Eurusdd
{quote} How much does it take to make $300 daily? with $5,000 and $5/pip or $10/pips you just need one good 30pips or 60pips shot!! U want to tell me you can't get that? You can't study your chart and get that special 30pips?? LOL, you need a new business!!!
I think you need to be moved to the commercial section…..You either selling something or you need to stop smoking…..
Wherever you go, there you are.
  • #861,479
  • Dec 7, 2013 2:09pm Dec 7, 2013 2:09pm
Hi Eurusdd, do you still believe the market is going to have a heavy fall around 1.37?

Just wondering what your reasoning behind that call is as I am having trouble seeing a drop prior to 1.382ish.
  • #861,480
  • Dec 7, 2013 2:09pm Dec 7, 2013 2:09pm
This thread of full of people who lost the fight before the fight. I won't return here. Nothing good to learn but how to "be afraid of the market". Fear is the first step to your downfall. And for your information, I have 10+ years in this game. Started tarding at a very early age. I know this game inside out, been there before, seen it and done it.

FEAR is your enemy, let her in, then emotions follow and boom. YOU ARE DOWN
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