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  • #901,521
  • May 29, 2014 1:17pm May 29, 2014 1:17pm
Quoting FibsWork4Me
How many people have been able to get 50 pips profit before ever going in red less then 5 pips? Seems impossible huh? but that would be a "High Quality" position.
Your concept is flawed by design...

Shooting for a Static Target without qualifying the pair or session, but a blind range based on a minimum draw, well...it's a waste of time.

Appreciate where price is, the direction it is heading, the possible supply/demand zones and then qualify your trigger to take the trade...

I can typically do this without dipping much below spread...but to guess the range to be 50 every time, absolutely not!!

Ya need to start off with a reasonably precise triggering method, apply it to the charts that you are comfortable with, accept a reasonable risk to draw...then and only then can you try and Guestimate a reasonable range.

The problem with most traders is that instead of taking 5 per day, which is easy...the shoot for 200 per week and end up in the shit...

Don't believe me?

Check out the majority of trade explorers...this will tell you why 95% of all traders lose.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #901,522
  • May 29, 2014 1:28pm May 29, 2014 1:28pm
Quoting CandleStar
I really wonder what we will see next month from Monday on. Will E/U completely surrender? Or will we see a rise not only to gatorīs 1.368x-9x or even more to 1.3815?
Won't surprise me if ECB decides to do nothing.
Their concern was low inflation and high Euro
With 1 single answer to single reporter Draghi managed to lower EU by 250+ pips without taking any action.
Why should they do anything now. 36-38 is range that I see this summer.
In trading, you have to be defensive and aggressive at the same time
  • #901,523
  • May 29, 2014 1:31pm May 29, 2014 1:31pm
one for the bulls
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twitter: @gettoefl
  • #901,524
  • May 29, 2014 1:39pm May 29, 2014 1:39pm
Quoting Davit
{quote} Won't surprise me if ECB decides to do nothing. Their concern was low inflation and high Euro With 1 single answer to single reporter Draghi managed to lower EU by 250+ pips without taking any action. Why should they do anything now. 36-38 is range that I see this summer.

I agree I feel that the easing has already been factored in....and if the ECB fails to do anything concrete at the upcoming meeting then EU will go back up. The dollar index is reaching highs and it is May...lets see how it plays out
  • #901,525
  • May 29, 2014 2:21pm May 29, 2014 2:21pm
Quoting Magix
{quote} Your concept is flawed by design... Shooting for a Static Target without qualifying the pair or session, but a blind range based on a minimum draw, well...it's a waste of time. Appreciate where price is, the direction it is heading, the possible supply/demand zones and then qualify your trigger to take the trade... I can typically do this without dipping much below spread...but to guess the range to be 50 every time, absolutely not!! Ya need to start off with a reasonably precise triggering method, apply it to the charts that you...

I'm not sure what makes you believe that I was referring to a static target. I simply mentioned that the creator of that thread typically closes his trades for profit with a RR of 1:7

The part of your response which I have highlighted are all things which are all objective by default. In no way does he take into account where the price is, the direction and the possible supply and demand levels are, as in reality they don't matter at all in the position which he takes. Reason being is because he simply trades formations, and patterns, and enters on specific candles which some how result in him not giving much pips to the market.

You also mentioned that you can do the same (make trades without giving many pips back to the market), I would love to see some transactions of your in which you were able to accomplish that.
Ever thought about how much money you could earn wagering against yourself?
  • #901,526
  • May 29, 2014 2:30pm May 29, 2014 2:30pm
Quoting chazzle
{quote} EG H4 added a couple on pullback - closing those add-ons now (50% of the position) as I see a poss. pullback from 8150s - a close today above yesterday's high and I'll move the tp up most prob. {image}
closing the rest here - recent H4 candles don't look so great and have to be careful because we're still technically in a downtrend on this pair
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  • #901,527
  • May 29, 2014 2:33pm May 29, 2014 2:33pm
Quoting chazzle
{quote} UJ H4 got quite a good entry and added - will hold it for now since we had a fairly decent H4 close/ bounce out of the s/r / mid area - below 61.8% level and it starts to look dubious ... I'm out of here - gl all {image}
got spooked in late london with the drop on this - and closed for a few pips - my mistake, should have just let it ride with original stop/limit in place - too much watching PA
  • #901,528
  • May 29, 2014 2:35pm May 29, 2014 2:35pm
Quoting Davit
{quote} Won't surprise me if ECB decides to do nothing. Their concern was low inflation and high Euro With 1 single answer to single reporter Draghi managed to lower EU by 250+ pips without taking any action. Why should they do anything now. 36-38 is range that I see this summer.
And as we know that these monthly bars nearly always overlap quite a bit someone who has a buy around here that is not completely overleveraged should not worry too much me thinks
  • #901,529
  • May 29, 2014 3:12pm May 29, 2014 3:12pm
Quoting FibsWork4Me
I would love to see some transactions of your in which you were able to accomplish that.
Rather than me going through and printing trades, why don't you take 10 seconds and just look through my historical posts...you can gain a sense of my trade logic and see a couple that were posted in the moment...
http://www.forexfactory.com/showthre...40#post7498840
http://www.forexfactory.com/showthre...94#post7493094
http://www.forexfactory.com/showthre...14#post7489714
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #901,530
  • May 29, 2014 3:19pm May 29, 2014 3:19pm
Quoting Magix
{quote} Rather than me going through and printing trades, why don't you take 10 seconds and just look through my historical posts...you can gain a sense of my trade logic and see a couple that were posted in the moment... http://www.forexfactory.com/showthre...40#post7498840 http://www.forexfactory.com/showthre...94#post7493094 http://www.forexfactory.com/showthre...14#post7489714
Thank you for the links. I honestly am not one to judge someone based on snapshots of accounts. Only because they could of been edited or even demo accounts. I would prefer it be a trade explorer or even myfxbook, as that would allow me to break down the trades one by one. I can understand if you don't feel comfortable on posting such proof, but either way thank you for sharing.
Ever thought about how much money you could earn wagering against yourself?
  • #901,531
  • May 29, 2014 3:30pm May 29, 2014 3:30pm
Quoting FibsWork4Me
{quote} Thank you for the links. I honestly am not one to judge someone based on snapshots of accounts. Only because they could of been edited or even demo accounts. I would prefer it be a trade explorer or even myfxbook, as that would allow me to break down the trades one by one. I can understand if you don't feel comfortable on posting such proof, but either way thank you for sharing.
I don't post all of my trades, nor do I disclose my account information...you will simply have to follow my charts...analyze from that.

Further, for the trades that I had posted, the one way you can tell they are live trades is by the .arm suffix, this is what differentiates demo accounts from real accounts with my broker...ARM are live. Other charts you will see that I post, do not have this as I have several versions running simultaneously, a lot testing automated software, but are still used for viewing as all are pre-loaded with my optics.

You can see where I exited...there is simply no time to modify these charts as they were typically printed within seconds of exits.

It isn't to brag, I have nothing to prove...you asked a question, I provided an answer.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #901,532
  • May 29, 2014 3:45pm May 29, 2014 3:45pm
I am buyer and alone no buyers for euro.. hard to retrace... even if 10pips spike.. again people are selling .

EBC Interest Rate Forcast is 0.1% , It will be realese 5 june !!! -0.15 % cut is huge for EURO !!!

anyway , i am waiting with my all open trades
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Find your passion and work hard
  • #901,533
  • May 29, 2014 4:06pm May 29, 2014 4:06pm
Quoting saeedbarzvar
I am buyer and alone no buyers for euro.. hard to retrace... even if 10pips spike.. again people are selling . EBC Interest Rate Forcast is 0.1% , It will be realese 5 june !!! -0.15 % cut is huge for EURO !!! anyway , i am waiting with my all open trades {image}
it's 78.6% Fibo retracement of 2014 uptrend...100% retracement is high possibility at this stage. Why this is happening, I don't know. However, I am already long with a small position as I don't want to miss a potential bounce from here. I will add more as PA unfolds either north or south. 13477 is the last threshold I see. Multiyear overall trend is still bullish, below 13477 a major challenge to overall uptrend could be in play.
  • #901,534
  • May 29, 2014 4:19pm May 29, 2014 4:19pm
Quoting Magix
{quote} I don't post all of my trades, nor do I disclose my account information...you will simply have to follow my charts...analyze from that. Further, for the trades that I had posted, the one way you can tell they are live trades is by the .arm suffix, this is what differentiates demo accounts from real accounts with my broker...ARM are live. Other charts you will see that I post, do not have this as I have several versions running simultaneously, a lot testing automated software, but are still used for viewing as all are pre-loaded with my optics....
Understood sir, and thank you once again for taking the time for answering my question. Now, what I would like to know is what do you deem is the best method to be able to have a very low "Pip-drawdown"? It appears that support/resistance, supply demand, pivots, etc don't get the job down.
Ever thought about how much money you could earn wagering against yourself?
  • #901,535
  • May 29, 2014 5:01pm May 29, 2014 5:01pm
Quoting Davit
{quote} Won't surprise me if ECB decides to do nothing. Their concern was low inflation and high Euro With 1 single answer to single reporter Draghi managed to lower EU by 250+ pips without taking any action. Why should they do anything now. 36-38 is range that I see this summer.
if he does nothing euro goes to moon instantly
so the solution is to do something.in this case it goes up slowly
  • #901,536
  • May 29, 2014 5:03pm May 29, 2014 5:03pm
for those who missed this BBG article on technical analysis

http://www.bloomberg.com/news/2014-0...ng-trades.html
  • #901,537
  • May 29, 2014 5:11pm May 29, 2014 5:11pm
Quoting arash66110
{quote} if he does nothing euro goes to moon instantly so the solution is to do something.in this case it goes up slowly
This is not completely accurate, he could end up doing nothing - yet the Euro doesn't rise ...
"It's the Margin, Stupid."
  • #901,538
  • May 29, 2014 5:23pm May 29, 2014 5:23pm
Quoting Vachus
{quote} This is not completely accurate, he could end up doing nothing - yet the Euro doesn't rise ...
I could not get exactly what you mean
but for next meeting if he does nothing euro goes to moon (no doubt)
if he takes action(except negative deposit rate) it will go up slowly in my view
  • #901,539
  • May 29, 2014 5:39pm May 29, 2014 5:39pm
Quoting arash66110
{quote} I could not get exactly what you mean but for next meeting if he does nothing euro goes to moon (no doubt) if he takes action(except negative deposit rate) it will go up slowly in my view
When a company decides to to borrow or a household going for a loan, they care more about actual/real interest rates not nominal ones ... real interest rates are negative for the last one year and half! Do you actually understand how interest rates works in the banking system, or something u read on Bloomberg?!
"It's the Margin, Stupid."
  • #901,540
  • Edited 5:56pm May 29, 2014 5:46pm | Edited 5:56pm
Quoting saeedbarzvar
I am buyer and alone no buyers for euro.. hard to retrace... even if 10pips spike.. again people are selling . EBC Interest Rate Forcast is 0.1% , It will be realese 5 june !!! -0.15 % cut is huge for EURO !!! anyway , i am waiting with my all open trades {image}
shorting after a 400 pips down move is not serious, we all know that ECB doing nothing will result in a huge short skweez....we have to wait for 5 June....
I'm long as you....
No more Fight, the victory has come...
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