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  • #897,481
  • May 13, 2014 6:57pm May 13, 2014 6:57pm
Quoting ScalpLikeMe
{quote} Well I am a scalper so I say 5m is the best. I believe using higher tf creates bias, which can end to heavy losses especially when the market moves the way it has. I feel as if you focus on lower tf, you can simply just follow price action and candle engulfs to scalp your way to a high amount of pips.
Can I dont understand how there one of these makes a bias and the other doesnt. I am very interested to hear your wisedom on this!
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All posts are my personal opinion
  • #897,482
  • May 13, 2014 7:08pm May 13, 2014 7:08pm
This is today's daily pivots for EUR/USD...
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Keep your Pip-drawdown low. That is the key to using high equity + high lev
  • #897,483
  • May 13, 2014 7:12pm May 13, 2014 7:12pm
Quoting Rtm
{quote} Can I dont understand how there one of these makes a bias and the other doesnt. I am very interested to hear your wisedom on this! {image} {image}
What happens to traders who love higher tf is as follows. They base a decision today, on what has happened to the currency over the last few months. When a trend reversal actually occurs, they will continue thinking that a correction is in play when the trend has actually reversed. Swing traders also spend most of their time in red, as they don't focus on entry accuracy. They focus more on the over all take profit which in most cases is hit in months, but the reality is they have spent more time in a position then actually taking profit as quickly as possible. As EUR/USD made its way up from 1.22xx to 1.3999 when the trend acutally became a buy, the price of eur/usd was already 1.28- 1.29
Keep your Pip-drawdown low. That is the key to using high equity + high lev
  • #897,484
  • May 13, 2014 7:49pm May 13, 2014 7:49pm
ea at 4615 atm.. watching for a reaction a 4611 ish or not.
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those who can, do. those who cant, talk about those who can
  • #897,485
  • May 13, 2014 7:53pm May 13, 2014 7:53pm
Quoting gatorinla
ea at 4615 atm.. watching for a reaction a 4611 ish or not. {image}
Already Long @ 1.46197
A good trader follows his rules, but great trader knows when to break them
  • #897,486
  • May 13, 2014 8:14pm May 13, 2014 8:14pm
Buy limits
A/U .93805

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  • #897,487
  • May 13, 2014 8:27pm May 13, 2014 8:27pm
Quoting priceaction1
1.3660-70 area is interesting on weekly time frame {image}
so it is area for possible up move, but first of all price search the equilibrium point and it takes time.

http://www.forexfactory.com/showthre...33#post7416733
don't predict direction, but dance with flow of water
  • #897,488
  • May 13, 2014 8:39pm May 13, 2014 8:39pm
Quoting ScalpLikeMe
{quote} What happens to traders who love higher tf is as follows. They base a decision today, on what has happened to the currency over the last few months. When a trend reversal actually occurs, they will continue thinking that a correction is in play when the trend has actually reversed. Swing traders also spend most of their time in red, as they don't focus on entry accuracy. They focus more on the over all take profit which in most cases is hit in months, but the reality is they have spent more time in a position then actually taking profit...
Actually I don't care about "time-frames". I know what is driving the euro up so I know when the trend is going to be over even before its over.
  • #897,489
  • May 13, 2014 8:42pm May 13, 2014 8:42pm
Quoting JohnIsShort
{quote} Actually I don't care about "time-frames". I know what is driving the euro up so I know when the trend is going to be over even before its over.
Could you share the factors that you use to gauge an entry please? Thanks
  • #897,490
  • May 13, 2014 8:55pm May 13, 2014 8:55pm
Quoting JohnIsShort
{quote} Actually I don't care about "time-frames". I know what is driving the euro up so I know when the trend is going to be over even before its over.
You seem to be very smart. I am not kidding. What you said is really something that many probably wont understand. I do because I am exceptional.

Just one question: Whats your Timeframe for a trend?
The Thief of Wall Street
  • #897,491
  • May 13, 2014 9:07pm May 13, 2014 9:07pm
Quoting Chicky
{quote} You seem to be very smart. I am not kidding. What you said is really something that many probably wont understand. I do because I am exceptional. Just one question: Whats your Timeframe for a trend?
Yes and what was the timeframe for the hippie trend in the 70's?
  • #897,492
  • May 13, 2014 9:08pm May 13, 2014 9:08pm
Trying a long scalp. We have a potential 150 pip bounce.

Long 3702 SL 3696.5

Offering 5.5 pips for a potential 150 pips r/r 1:27
  • #897,493
  • May 13, 2014 9:15pm May 13, 2014 9:15pm
Quoting diggo
Trying a long scalp. We have a potential 150 pip bounce. Long 3702 SL 3696.5 Offering 5.5 pips for a potential 150 pips r/r 1:27
Could close half the position at 3707.5 for a free ride.
  • #897,494
  • May 13, 2014 9:36pm May 13, 2014 9:36pm
Quoting JohnIsShort
{quote} Actually I don't care about "time-frames". I know what is driving the euro up so I know when the trend is going to be over even before its over.
JohnIsShort, can you explain what is driving euro up.
  • #897,495
  • May 13, 2014 9:43pm May 13, 2014 9:43pm
In @ 3706
  • #897,496
  • May 13, 2014 9:51pm May 13, 2014 9:51pm
Quoting diggo
Trying a long scalp. We have a potential 150 pip bounce. Long 3702 SL 3696.5 Offering 5.5 pips for a potential 150 pips r/r 1:27
Closed 50% for 5.5 green pips. So its b/e or 150 pips from here.
  • #897,497
  • Edited 10:41pm May 13, 2014 10:00pm | Edited 10:41pm
Ladies, Gentlemen, Ladyboys, Boyladies and no matter who else you are!

We are entering into a phase of massive correction. Take your positions now and live happily everafter.

Details are as follows:

Once upon a time, a country put gold of equivalent value in a vault for each currency unit it issued. This way, their currency was called Fiat or Legal Tender. However, for temporary shortfalls in revenues, they also "sometimes" printed bills/notes without gold backup, generally known as Deficit Financing. These notes were withdrawn from circulation as soon as that temporary needs were over. All countries paid for gold, oil and other major imports in Reserve Currency which was a foreign currency that they either had to generate from their exports of goods and services or buy. There was only one country which never had to import any goods and services paying foreign currency (that is, Reseve Currency). That country was the one whose currency was the Reserve Currency and since their currency was the world's Reserve Currency all gold and oil was traded in that country's currency.

Then came a time when the country whose currency was the Reserve Currency borrowed, imported and I don't know what else they did with their money but kept on importing. When it was time to pay for their imports or repay the loans, they printed Reserve Currency without gold backup and started paying off their liabilities. But borrowings and trade imbalance were so huge that even printing bills/note could not help. This situation provided a food for thought to one more country that dumped its trash in the backyard of the country whose currency enjoyed status of main Reserve Currency. They just accumulated power by converting their trash into Reserve Currency no matter what was the cost of this trash to them. On realizing what was going on with the Reserve Currency without the gold backup, they started converting their reseve of the Reserve Currency into commodities. This practice is going on until this date and likely to continue in the future, until they get rid of bulk of that Reserve Currency that has limited or no backup.

If you want to bet on today's reseve currency, goodluck.
The Thief of Wall Street
  • #897,498
  • May 13, 2014 10:16pm May 13, 2014 10:16pm
Quoting tanim
{quote} JohnIsShort, can you explain what is driving euro up.
Euro doesn't go down on deflation + ECB behaviour (vs FED). And thats the only core reason we don't go down.

We are in a normalization phase, not just in europe but in the rest of the world, you have to understand that euro was trading at 1.20 when a euro-area break-up danger was very real, if EURUSD can maintain 1.20 when the fear of a break-up was really high now imagine how it would trade when things start to normalize. We are pricing out a euro-area break-up and some growth, maybe with a bit of too much optimism but thats in everywhere not just the euro-area.

Look EURUSD will trade always higher while all economies around the world are trying to normalize, there is too much opportunity in the euro-area and its worth fighting the ECB for it. If people are taking such risks to be exposed to Asian currencies/EM/carry trades and such there is 0 REASON to just give up on europe because some guy threatens to do something that is even likely to improve growth in europe. Its the case of "if you don't buy it then someone else will."

ECB can buy some time, and thats what he is trying to do. Buying some time, kill some speculative flows, he knows markets are ahead of growth and it could hurt their inflation mandate so they try to hold it back.
  • #897,499
  • May 13, 2014 10:37pm May 13, 2014 10:37pm
Quoting JohnIsShort
{quote} Euro doesn't go down on deflation + ECB behaviour (vs FED). And thats the only core reason we don't go down. We are in a normalization phase, not just in europe but in the rest of the world, you have to understand that euro was trading at 1.20 when a euro-area break-up danger was very real, if EURUSD can maintain 1.20 when the fear of a break-up was really high now imagine how it would trade when things start to normalize. We are pricing out a euro-area break-up and some growth, maybe with a bit of too much optimism but thats in everywhere...
Euro do not care your reasons for not going down.
  • #897,500
  • May 13, 2014 10:44pm May 13, 2014 10:44pm
When u Think there are funny rrasons eur will not go down, you have lost.
Tell me some reasons eur will not go up. Its also plausible.
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