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  • #875,521
  • Feb 9, 2014 8:36pm Feb 9, 2014 8:36pm
Quoting ud1nh0
{quote} 1.4545 chance is slim ?
It takes two or three days after a NFP to get the direction. Economies line up their data and throw them one on top of the other just like cards in a card game. See what Europe does next. Once said that, 1.4545 is very much possible, but I don't know how it will get there. I still cannot forget that spike above 1.3800, these spikes are never meaningless. But currently I am focusing on NFP data
The Thief of Wall Street
  • #875,522
  • Feb 9, 2014 8:51pm Feb 9, 2014 8:51pm
Quoting Chicky
{quote} It takes two or three days after a NFP to get the direction. Economies line up their data and throw them one on top of the other just like cards in a card game. See what Europe does next. Once said that, 1.4545 is very much possible, but I don't know how it will get there. I still cannot forget that spike above 1.3800, these spikes are never meaningless. But currently I am focusing on NFP data
My chart gives no good reason after this NFP to go long ................. maybe later, but not now.
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The Thief of Wall Street
  • #875,523
  • Feb 9, 2014 9:40pm Feb 9, 2014 9:40pm
Right... interesting trading discussions here as always..


EU low TF note opportunity to close window target 1.36350

  1. First attempt in Asian session failed
  2. EU open will probably attract the momentum required

Have a good trading week.

G/L

  • #875,524
  • Feb 9, 2014 9:50pm Feb 9, 2014 9:50pm
EU range today is only about 10, any break could be nice
In the end its just a stupid numbers game
  • #875,525
  • Feb 9, 2014 10:06pm Feb 9, 2014 10:06pm
red box harmonic sell zone
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In trading, you have to be defensive and aggressive at the same time
  • #875,526
  • Feb 9, 2014 10:15pm Feb 9, 2014 10:15pm
According to Scott Carney 88.6Fib at 3709 is last chance for price to turn if violated original measurement will most probably be violated
which is 3740 last swing high.
In trading, you have to be defensive and aggressive at the same time
  • #875,527
  • Feb 9, 2014 10:37pm Feb 9, 2014 10:37pm
My tp 1.3670
Money never sleeps I can hear the dollar calling me
  • #875,528
  • Feb 9, 2014 10:43pm Feb 9, 2014 10:43pm
hello forex junkies, a new year a new opportunity to become gazillionaire

eu is in decision mode she is in middle of 4hr equilateral tringle coin toss area

I am keeping eye on Cad UC and GC Im thinking could be some nice opportunities for some little pips
chart is UC 1hr
she could possibly be in process of building a new range, last one played out pretty nice, I missed some very good moves dec and jan is terrible time to be trader,
anyway worth an eyeball sell zone and buy zone is in place, now waiting to see if this range plays out, already short, where from is not important, Cad strength she will fall Us strength she will rally if at same time she will go nowhere, biggest move will be when they are opposite cad strength with usd weakness she will drop like bomb this is what I am wanting and waiting, Cad weakness and USD strength I will see in other pairs kiwi aussie cable eu

good hunting pip hunters
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If you are new to Forex? Say Goodbye to your account!!
  • #875,529
  • Feb 9, 2014 10:47pm Feb 9, 2014 10:47pm
Quoting jmn5611
{quote} That's good stuff Davit. How much leverage do you use on average?
1:50 which is pretty standard by US brokers.I never used high leverage live and prefer not to.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #875,530
  • Feb 9, 2014 10:50pm Feb 9, 2014 10:50pm
Quoting KiwiTrada
hello forex junkies, a new year a new opportunity to become gazillionaire eu is in decision mode she is in middle of 4hr equilateral tringle coin toss area I am keeping eye on Cad UC and GC Im thinking could be some nice opportunities for some little pips chart is UC 1hr she could possibly be in process of building a new range, last one played out pretty nice, I missed some very good moves dec and jan is terrible time to be trader, anyway worth an eyeball sell zone and buy zone is in place, now waiting to see if this range plays out, already...
for me GC still holding firm at daily pivot but you could say it's "due for a break" lower, otherwise we are headed north of 1.8560+ where the last batch of real money buyers are currently underwater.
AC has been rejected off parity again and for now strong CAD data has put the breaks on the long UC. also long UM losing steam after breaking 13.50.
for me if AC can't make another push through parity GC will come off more to test the 1.75 area (since then the GA GC relationship while still be dominated by G and not an AC correlation reversal)
  • #875,531
  • Feb 9, 2014 10:51pm Feb 9, 2014 10:51pm
Peace, trade, & make money ............
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That which does not kill us makes us stronger
  • #875,532
  • Feb 9, 2014 10:51pm Feb 9, 2014 10:51pm
Quoting Davit
{quote} 1:50 which is pretty standard by US brokers.I never used high leverage live and prefer not to. Regards
I didn't know were a US trader. I see you understand the concept of breaking up your trades, and 20% in a month is very good. I'm actually underwater 0.2% for the year.
If you are good at something, never do it for free--Joker
  • #875,533
  • Feb 9, 2014 10:52pm Feb 9, 2014 10:52pm
I will start this week entering a long EURUSD right now. You can never go wrong with that one.
Open Target, No SL.

Reasons:
I expect no more turmoiling on EM to cap euro rallys.
Euro could be seen as a strong-EM, by definition.
Support from stock market.

Risks:
EM turmoils some more.
Stock market fails to gain ground.
  • #875,534
  • Feb 9, 2014 10:53pm Feb 9, 2014 10:53pm
Quoting jmn5611
{quote} I never really bought into the trader's effect. First of all, no one is going to do things exactly the same. Especially if you are building large positions and managing a risk profile. This thread is a great testament to this. All of this debate about whether the Euro is going up or down. I do enjoy the reading though, you are quite a funny read Chicky.
It's not about someone going to copy you, its all about will they allow you to practice your profitable method? Read all the new retail forex rules and build a system based on what they have banned in past five years ................... you will definitely find a holy grail that existed before these rule changes. One example: There was a time when flexible spread used to surprise me, now I have no choice but to use these brokers because they banned all with fixed spreads where I live. I cannot even open an account with them in any other country because I live in a country where they are banned. Do you remember the time they wanted to ban oil futures when you were making money in oil?......... No? very short memory. Do you read about max 1:1 or 1:2 or 1:10 leverage proposals? This is how they want and manage to get your money. Therefore best option is to start believing in Trader's Effect.
The Thief of Wall Street
  • #875,535
  • Feb 9, 2014 11:06pm Feb 9, 2014 11:06pm
Quoting jmn5611
{quote} I didn't know were a US trader. I see you understand the concept of breaking up your trades, and 20% in a month is very good. I'm actually underwater 0.2% for the year.
My biggest gains last month was shorting cable on every swing high.I did that 4 times with multiple positions while overall trend was up.
I prefer range pairs for a reason.That suits my style of trading. 70% forex is in a range.
EU is very prone to range.This is the reason I avoid Yen pairs.They are more prone to trend.If you are a trend trader for long TF its better trading pairs that trend.
EU is not one.Many factors why.This is true reason why I can confidently short the EU because I know its going to collapse back down.
In trading, you have to be defensive and aggressive at the same time
  • #875,536
  • Feb 9, 2014 11:09pm Feb 9, 2014 11:09pm
Quoting Chicky
{quote} It's not about someone going to copy you, its all about will they allow you to practice your profitable method? Read all the new retail forex rules and build a system based on what they have banned in past five years ................... you will definitely find a holy grail that existed before these rule changes. One example: There was a time when flexible spread used to surprise me, now I have no choice but to use these brokers because they banned all with fixed spreads where I live. I cannot even open an account with them in any other...
Now that is a very different subject. You are talking about governments wanting to keep people in debt slavery. That is a different topic altogether. And I do agree. People started shutting up because if you tell too many people and they begin to make money without direct labor, governments will legislate your edge out of existence. Sometimes it is not even an edge, just a way of doing things. Here in the states they did this by putting a cap on leverage, and it does not matter where I go. I will have to do the best I can with 50:1 leverage. Stock traders used to be able to day trade with 2k in the US. They legislated that out of existence as well. So I do understand Chicky. I guess I am already a believer in the Trader's Effect.
If you are good at something, never do it for free--Joker
  • #875,537
  • Feb 9, 2014 11:10pm Feb 9, 2014 11:10pm
Quoting KiwiTrada
hello forex junkies, a new year a new opportunity to become gazillionaire eu is in decision mode she is in middle of 4hr equilateral tringle coin toss area I am keeping eye on Cad UC and GC Im thinking could be some nice opportunities for some little pips chart is UC 1hr she could possibly be in process of building a new range, last one played out pretty nice, I missed some very good moves dec and jan is terrible time to be trader, anyway worth an eyeball sell zone and buy zone is in place, now waiting to see if this range plays out, already...
I have a sell on aud/cad and will reload some more around 0.98. potential double top succeded with aussie failing at 0.900. just for order sake aussie sell stops building at 0.8870
  • #875,538
  • Feb 9, 2014 11:13pm Feb 9, 2014 11:13pm
Quoting Davit
{quote} My biggest gains last month was shorting cable on every swing high.I did that 4 times with multiple positions while overall trend was up. I prefer range pairs for a reason.That suits my style of trading. 70% forex is in a range. EU is very prone to range.This is the reason I avoid Yen pairs.They are more prone to trend.If you are a trend trader for long TF its better trading pairs that trend. EU is not one.
EU is my primary pair, but range has been so tight I have not been able to show a meaningful return.....yet.
If you are good at something, never do it for free--Joker
  • #875,539
  • Feb 9, 2014 11:14pm Feb 9, 2014 11:14pm
Quoting Davit
{quote} My biggest gains last month was shorting cable on every swing high.I did that 4 times with multiple positions while overall trend was up. I prefer range pairs for a reason.That suits my style of trading. 70% forex is in a range. EU is very prone to range.This is the reason I avoid Yen pairs.They are more prone to trend.
trends are the same. just imagine you subtract off the trendline and you have a range. now it's a little bit trickier because you have to adjust for basically negative theta from fighting the trend at the top of the range and positive theta from going with the trend at the bottom of the range.
unless of course the trend breaks then you have to readjust.
of course, what is a "trend" can be a bit subjective and hard to make it completely systematic, it's fuzzy and then are often false bars you have to deal with that a human can ignore easily but an algo might struggle with. I'm sure some of the smart HFT guys have it figured out
  • #875,540
  • Feb 9, 2014 11:16pm Feb 9, 2014 11:16pm
Quoting jmn5611
{quote} EU is my primary pair, but range has been so tight I have not been able to show a meaningful return.....yet.
Perhaps you enter full lot then got stopped out then repeat and before you know it you are 150pips in a hole.
Never enter market with full lot because you don't know price you got is most advantageous to you.
In trading, you have to be defensive and aggressive at the same time
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