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  • #875,461
  • Feb 9, 2014 12:19pm Feb 9, 2014 12:19pm
EURUSD opens a little lower, 1.3620 bid.

market expects move of +/- 110 pips this week.

Very low Implied vol
  • #875,462
  • Feb 9, 2014 12:19pm Feb 9, 2014 12:19pm
Quoting attila
{quote} currencies float. they don't diverge forever. so, if you are willing to hold a trade for 5 years or longer it'll surely give you profit... however, I venture to say, that is not trading.
It is exaggeration, however it will also give false sense that trading currencies is about 10 pips a day which is destructive for people who are new to this game.
Great example is buying pound or selling aussie since last year and eu crosses, now even all intraday traders would admit it was a good hold.
Does it work for everybody? of course not. Swing guys who like weekly charts are lost in euro dollar atm but not in other euro crosses.
Lets be flexible and catch opportunity rather than dismiss something blindly.
Holding something for 5 years doesn't make sense but 6 months to a year is ok.
swing it!
  • #875,463
  • Feb 9, 2014 12:23pm Feb 9, 2014 12:23pm
Quoting Capelli
{quote} Its good to hear that we think alike. Have a good trading week my friend
Its good to hear that we are almost the same in point of view. Actually I trade both way, long term BUY on EUR/USD and short term on SELL actually. I expect it will open possibly with some gap or couple of pullback BEARISH candle to 1.3590-1.36000 area before heading to north. So actually I am trading on both position now. So far it was good now as the price open with 1.3624 running nicely some BEARISH. Hopefully it will hit around what I expected before continuing to NORTH.

Good luck on your trading, mate.
Best Regards
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #875,464
  • Feb 9, 2014 12:37pm Feb 9, 2014 12:37pm
Quoting tomspin
{quote} It is exaggeration, however it will also give false sense that trading currencies is about 10 pips a day which is destructive for people who are new to this game. Great example is buying pound or selling aussie since last year and eu crosses, now even all intraday traders would admit it was a good hold. Does it work for everybody? of course not. Swing guys who like weekly charts are lost in euro dollar atm but not in other euro crosses. Lets be flexible and catch opportunity rather than dismiss something blindly. Holding something...
I am absolutely agree that 10 pips or 20 pips per day is a totally destructive no matter for people who are new or even an experience trader. I get attached to forex approximately 9 years ago, and I have wasted almost 6 years to find my mistakes and problem from what I learnt or heard some so called PRO, classes, courses, marketing material that mislead the whole direction. Maybe I can't blame others misleading me, or maybe that type of trading doesn't suitable for my style or trading behavior.

Cheers
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #875,465
  • Feb 9, 2014 12:45pm Feb 9, 2014 12:45pm
Friday was a crazy day with the NFP disappointing but the instant response to the lackluster jobs number sent the euro climbing. I have been playing with binary option lately and have been trying to master a way to trade 60 seconds and Friday was a great day. I got in 12 60 second trades on the euro as it climbed and only lost on one as it reserved and adjusted. I think trading the economics calendar could be a way to conquer binary option and to make some easy profits off events like Friday.
  • #875,466
  • Feb 9, 2014 12:49pm Feb 9, 2014 12:49pm
Quoting Hickson
<p>{quote}</p> <p></p> Well, in the front it might at least help to cover the micro penises of some gentlemen.
chicky is a MALE
  • #875,467
  • Feb 9, 2014 12:49pm Feb 9, 2014 12:49pm
Quoting kimisiow83
{quote} I am absolutely agree that 10 pips or 20 pips per day is a totally destructive no matter for people who are new or even an experience trader. I get attached to forex approximately 9 years ago, and I have wasted almost 6 years to find my mistakes and problem from what I learnt or heard some so called PRO, classes, courses, marketing material that mislead the whole direction. Maybe I can't blame others misleading me, or maybe that type of trading doesn't suitable for my style or trading behavior. Cheers
If you have gained wisdom, insight and knowledge... no matter how small it may seem, is certainly not a waste.
  • #875,468
  • Feb 9, 2014 12:56pm Feb 9, 2014 12:56pm
Quoting kimisiow83
{quote} I am absolutely agree that 10 pips or 20 pips per day is a totally destructive no matter for people who are new or even an experience trader. I get attached to forex approximately 9 years ago, and I have wasted almost 6 years to find my mistakes and problem from what I learnt or heard some so called PRO, classes, courses, marketing material that mislead the whole direction. Maybe I can't blame others misleading me, or maybe that type of trading doesn't suitable for my style or trading behavior. Cheers
Nothing wrong with 10 pips a day, but that requires skills which novice trader just don't have
swing it!
  • #875,469
  • Feb 9, 2014 12:57pm Feb 9, 2014 12:57pm
Quoting Venice
{quote} If you have gained wisdom, insight and knowledge... no matter how small it may seem, is certainly not a waste.
Mate,
Thank you so much for your encouraging. My partner also always encourage me with the same words as you say. It was really a big hit to me when I find out what actually my mistake is, just feel that I have waste so many precious time with the same mistake.

Cheers
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #875,470
  • Feb 9, 2014 1:00pm Feb 9, 2014 1:00pm
Quoting tomspin
{quote} Nothing wrong with 10 pips a day, but that requires skills which novice trader just don't have
Yes, absolutely agree.
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #875,471
  • Feb 9, 2014 1:10pm Feb 9, 2014 1:10pm
I agree with Attila.

Although it seems that I am nearly always locked into this forum I seldom look in.
I donīt need different opinions, and as attila already said they distract me from my opinion.
My new machine system will give me the signals that I need, and it is my one and only decision to go in or not.

Too many scalpers here that try to get every little movement.
I have been one of them for the last years, but I simply give it up.
Ruins my nerves too much and every evening I was annoyed that I missed some.
I donīt need that.
My new way is 200-500 pips right or 50-80 pips wrong.
Letīs see how it goes.
  • #875,472
  • Feb 9, 2014 1:33pm Feb 9, 2014 1:33pm
Quoting kimisiow83
{quote} Human Brain are just like a full cup of tea. We are just full of opinions and speculations to made us lost in our very own path! To see the light of wisdom, we must first empty our cups. Pour out all the negatives, only we can fill it up with the positives. That's the power of "ACCEPT".
Wonderful post - true wisdom mate
  • #875,473
  • Feb 9, 2014 1:33pm Feb 9, 2014 1:33pm
Quoting CandleStar
I agree with Attila. Although it seems that I am nearly always locked into this forum I seldom look in. I donīt need different opinions, and as attila already said they distract me from my opinion. My new machine system will give me the signals that I need, and it is my one and only decision to go in or not. Too many scalpers here that try to get every little movement. I have been one of them for the last years, but I simply give it up. Ruins my nerves too much and every evening I was annoyed that I missed some. I donīt need that. My new...
I am absolutely agree with you and Attila. The bold words is something that have keeping me for years to advance to another stages in my trading career. Probably I have get out this situation earlier, so I can say I have already going into subconscious mind with my own trade. Probably 1 thing I can share with you here is try to move forward with what you do now, but at the same time keep logging in some forum. It does have a lot of scalper here, but we couldn't says that there are no expert here. For me today, trading is just alike someone who take some hot courses such as IT or Software Developer. It has a lot of different languages, and we need to always keep updating ourselves by sharing through forum or having some discussion. This is also the main purpose for me to more participating in forum, not to get any those tips from scalper, but to keeping myself update, sharing and changing information with some really experience and good trader. Probably you have very good systems on your hand right now, but we can keep improving our system through sharing information in forum. Believe me, its really help a lot.

Best Regards
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #875,474
  • Feb 9, 2014 1:39pm Feb 9, 2014 1:39pm
Quoting tomspin
{quote} Nothing wrong with 10 pips a day, but that requires skills which novice trader just don't have
I'm going for this few pips a day, purely intraday.

It just requires you to trade lower tf, with lower stop, and faster reactions to moves, not a big deal is it ?
COT: The precious data ignored
  • #875,475
  • Feb 9, 2014 1:42pm Feb 9, 2014 1:42pm
Quoting kimisiow83
{quote} I am absolutely agree with you and Attila. The bold words is something that have keeping me for years to advance to another stages in my trading career. Probably I have get out this situation earlier, so I can say I have already going into subconscious mind with my own trade. Probably 1 thing I can share with you here is try to move forward with what you do now, but at the same time keep logging in some forum. It does have a lot of scalper here, but we couldn't says that there are no expert here. For me today, trading is just alike someone...
Totally agree -
  • #875,476
  • Feb 9, 2014 1:43pm Feb 9, 2014 1:43pm
Quoting Davit
For me what works of late understanding underlying fundamental factors and make overall market direction. To me EU fundamentally will deprecate With Greece,Portugal,Italy,Spain 30-40% unemployment it does not take great effort to realize overall bias combine with USD 6.6% unemployment and Feds desire to continue taper. With clowns posting here numbers 1.40-1.44 are clueless idiots (most are on ignore list).Plain and simple. If you are clever you can take advantage of this rally or lose buying EU zone miracle recovery. Interesting and insightful...
Imo eyes should be pointed at new fed chairman, her first statement and her general attitude. EZ problems are out there but they are not main fundamental reason to be looked at.
Your comment has a logic I agree with all of this but do not forget about further taper or program continuation, both scenarios are real. Speculation about Greece becoming nazi controled country is not a key element here mate.
swing it!
  • #875,477
  • Feb 9, 2014 1:45pm Feb 9, 2014 1:45pm
Quoting kuroro001
{quote} I'm going for this few pips a day, purely intraday. It just requires you to trade lower tf, with lower stop, and faster reactions to moves, not a big deal is it ?
Yes, but maybe isn't suitable for everyone actually. It really requires a lot of skills and discipline. And I admit I really can't cope on this kind of fast trade.
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #875,478
  • Feb 9, 2014 1:46pm Feb 9, 2014 1:46pm
Quoting kuroro001
{quote} I'm going for this few pips a day, purely intraday. It just requires you to trade lower tf, with lower stop, and faster reactions to moves, not a big deal is it ?
Seems so if you are not so hefty requoted like I am/was/will be.

I would not say that I will not take a scalp here and there, but only into the direction of my major signals.
  • #875,479
  • Feb 9, 2014 1:46pm Feb 9, 2014 1:46pm
Quoting kuroro001
{quote} I'm going for this few pips a day, purely intraday. It just requires you to trade lower tf, with lower stop, and faster reactions to moves, not a big deal is it ?
Of course mate, but new guy will never do it consistently because of the noise and lack of PA knowledge, intraday allow you to be in the market for shorter period of time which is good for your risk.
swing it!
  • #875,480
  • Feb 9, 2014 1:48pm Feb 9, 2014 1:48pm
Quoting kimisiow83
{quote} Yes, but maybe isn't suitable for everyone actually. It really requires a lot of skills and discipline. And I admit I really can't cope on this kind of fast trade.
Everyone has to find its own style, the one that suits you the best. I found mine, you found yours....life is beautiful
COT: The precious data ignored
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