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  • #901,561
  • May 29, 2014 8:11pm May 29, 2014 8:11pm
Quoting Vachus
{quote} I have no intention to short actually, i'm waiting and will go long ... 1.066 1.055 1.044
My only intent is prosperity...

I have no intention on picking sides...It's not my battle...but I will run with the gains.

Lots of time between now and summer roll...we are below yearly open, so, yeah...sure...let's test that bitch...

After that, like I give a shit.

I had my buy and sell buttons regripped for the year.

I'm all good!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #901,562
  • May 29, 2014 8:56pm May 29, 2014 8:56pm
Quoting Vachus
{quote} 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?!
So you are an accountant. I was too (and a professional one), in early days of my career. Know all about Business Combinations, Consolidation Accounting with several subsidiaries and associates declaring all those shit dividends and bonus shares from pre and post acquisition profits, treatment of Normal and Abnormal gains/losses while adding cost incurred in current department to the cost received from previous department (including equivalent units for material, labor and FOH), recognition and disclosure of all shit from construction accounting to retirement benefits and derivatives, Balance Sheet and P&L based business valuations, all real and imaginary elements of discounting factors used to calculated present value, Carry Forward and Carry Backward of Business Losses and calculation of deferred tax, contribution margin to relevant costs, and rest of the shit from Corporate Law to Management Accounting and Auditing. This is all useless when it comes to taking a business decision. One just needs two things: 1) a Vision, and 2) Balls.
The Thief of Wall Street
  • #901,563
  • May 29, 2014 8:58pm May 29, 2014 8:58pm
Hi everyone.

Whats the direction for EU? I have absolutely no idea at all
Read the entire market, money is made on the main trend not the fluctuation
  • #901,564
  • May 29, 2014 9:03pm May 29, 2014 9:03pm
Quoting Kofmaster
Hi everyone. Whats the direction for EU? I have absolutely no idea at all
I will shortly be able to tell you exactly where it will go in the next two hours. Just give me a couple of hours.
The Thief of Wall Street
  • #901,565
  • May 29, 2014 9:07pm May 29, 2014 9:07pm
Quoting Kofmaster
Hi everyone. Whats the direction for EU? I have absolutely no idea at all
im short sense last night...but it because i was bored... probably will keep it this way and add some more and more when it will grow and grow....
  • #901,566
  • May 29, 2014 9:08pm May 29, 2014 9:08pm
Quoting Chicky
{quote} I will shortly be able to tell you exactly where it will go in the next two hours. Just give me a couple of hours.
hahaha. And it will be the most correct i guess
  • #901,567
  • May 29, 2014 9:13pm May 29, 2014 9:13pm
Quoting Lamira
{quote} hahaha. And it will be the most correct i guess
Sure. However, with little less assurance, I can say that in the next couple of hours:

1. EURUSD will stay near 1.3600
2. Gold will remain around 1,250
3. Kiwi will be near 0.8500
The Thief of Wall Street
  • #901,568
  • May 29, 2014 9:15pm May 29, 2014 9:15pm
Quoting Vachus
{quote} I have no intention to short

Hey speaking of short...and pimply faced...

Where's that jeremy kid been hiding?

Cripes...

Ask the kid to put up a trade and he vanishes like we were asking him to trade one of the inside duelies...

I'm not sure if I've ever seem somebody that afraid of a demo account. You'd almost think his mother ran away with one...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #901,569
  • May 29, 2014 9:18pm May 29, 2014 9:18pm
Quoting Chicky
{quote} Sure. However, with little less assurance, I can say that in the next couple of hours: 1. EURUSD will stay near 1.3600 2. Gold will remain around 1,250 3. Kiwi will be near 0.8500
The problem with EU now is long or short seems both ok for me except its clearly downtrend now. But however I couldn't find the exit point. So no way I can enter a short.

Therefore decided to wait for next week ECB conference to clear path for me
Read the entire market, money is made on the main trend not the fluctuation
  • #901,570
  • May 29, 2014 9:18pm May 29, 2014 9:18pm
Quoting Chicky
{quote} Sure. However, with little less assurance, I can say that in the next couple of hours: 1. EURUSD will stay near 1.3600 2. Gold will remain around 1,250 3. Kiwi will be near 0.8500
The wisest thing to do in this market is to:

Place a pending buy order at or just above 1.3500 for a TP of 40 pips. If it goes below 1.3500, keep on adding longs until 1.3400 and liquidate at 1.3500.
The Thief of Wall Street
  • #901,571
  • May 29, 2014 9:22pm May 29, 2014 9:22pm
[quote=Kofmaster;7501348]{quote} The problem with EU now is long or short seems both ok for me except its clearly downtrend now. But however I couldn't find the exit point. So no way I can enter a short. Therefore decided to wait for next week ECB conference to clear path for me [/quott e]

I don't know about trend, but expect it to go much lower. The issue to me is not the exit point. It is clearly at 1.3500 for now. The real issue is will it spike up before going down. Levels as important as this one (1.3600), a spike up of 150 to 200 pips would be very normal. The best is to forget about selling and look for the next buying opportunity. I do not favor selling it on an spike up.
The Thief of Wall Street
  • #901,572
  • May 29, 2014 9:25pm May 29, 2014 9:25pm
Quoting Chicky
{quote} Sure. However, with little less assurance, I can say that in the next couple of hours: 1. EURUSD will stay near 1.3600 2. Gold will remain around 1,250 3. Kiwi will be near 0.8500
"near" and "around" are too subjective, is 5 pips or 1000 pips still "near"

There is only one holy grail and that is the next candle will print to the right of this one, (any time frame), the shape aka HLOC will etch in history this candle and then start on the next one.
Of course this knowledge is of absolutely useless now,

Yet ironically we are constantly looking at historical data aka closed candles to try and figure out the shape / size and direction of the next candle / s

With my vast and expanse knowledge of EU is this " Euro is a piece of shit and USD is a piece of shit, the holy grail question is which is the biggest piece of shit":nerd:
If you are new to Forex? Say Goodbye to your account!!
  • #901,573
  • May 29, 2014 9:28pm May 29, 2014 9:28pm
Quoting Chicky
I don't know about trend, but expect it to go much lower. The issue to me is not the exit point. It is clearly at 1.3500 for now. The real issue is will it spike up before going down. Levels as important as this one (1.3600), a spike up of 150 to 200 pips would be very normal. The best is to forget about selling and look for the next buying opportunity. I do not favor selling it on an spike up.


I dont dare to catch a falling knife man, at least its not obvious enough for me 1.35 is support. Therefore I shall stick to my strategy, wait for weak rally and short
Read the entire market, money is made on the main trend not the fluctuation
  • #901,574
  • Edited 9:44pm May 29, 2014 9:32pm | Edited 9:44pm
Quoting KiwiTrada
{quote} "near" and "around" are too subjective, is 5 pips or 1000 pips still "near" ................... With my vast and expanse knowledge of EU is this " Euro is a piece of shit and USD is a piece of shit, the holy grail question is which is the biggest piece of shit":nerd:
According to your definition of "near" and "aorund", I am near death and there are thousands of graves around my bed.

None of these two currencies are piece of shit. The first one is the major reserve currency and the later one is the furture's major reserve currency. If your total debts cross $17T, you are reserve currency. If your total debts stay "around" $11T you are future's reserve currency.

................... Why did we decide to get into this forex shit? Do you remember why and how you got into this?
The Thief of Wall Street
  • #901,575
  • May 29, 2014 9:48pm May 29, 2014 9:48pm
I took my explorer demo account from $500 to $68. Then from $68 to $224.

That means my draw down was just 86%, but my gain (from 68 to 224) is 330%.

Am I a good trader?
The Thief of Wall Street
  • #901,576
  • May 29, 2014 9:59pm May 29, 2014 9:59pm
Quoting Chicky
I took my explorer demo account from $500 to $68. Then from $68 to $224. That means my draw down was just 86%, but my gain (from 68 to 224) is 330%. Am I a good trader?
then from 224 to 1million. then back to 1k. are you good?

Consistent means good. sudden spike in your pnl doesn't mean you are good.
Read the entire market, money is made on the main trend not the fluctuation
  • #901,577
  • Edited 10:18pm May 29, 2014 10:06pm | Edited 10:18pm
Quoting Kofmaster
{quote} I dont dare to catch a falling knife man, at least its not obvious enough for me 1.35 is support. Therefore I shall stick to my strategy, wait for weak rally and short
Look at it from this very honest and logical aspect.

1. We (and no one else, inlcuding George Soros) know where it will go next. Even if market makers have some ideas or plans, they may know the direction but even they don't know how much / how many pips.

2. But we (including George Soros) know that when it hits a major level, there are many pending orders waiting there. The market makers either push it so hard that it burtally breaks that level in seconds or slowly penetrates that level aborbing counter trades. In case of former, it always comes back to level broken. In later case, it gets a bounce. Since a very strong level is always a round number, a bounce of 50 pips would hit another key level. Therefore a bounce of 40 pips is most likely.

3. The current chart reading indicates 1.3700, 1.3500 and 1.3400 as key bouncing points. 1.3600 is not a good boucing level as it is a place where it likes to hang around quite often.

4. Now re-read 2. above. After reading 2. above, read 5. below

5. If it does not bounce off from 1.3500, it will bounce from 1.3400 and is likely to hit 1.3500.

6. After reading all of the above from 1. to 5. read 7 below

7. Observe pa for at least one pair and gold or any two majors. You would notice that major players react in advance to market nearing a key level.

8. Therefore, the conlcusion is that bounce play is the safest and most profitable for short-term and short-tempered traders currently living below poverty line and would like to own an island someday.
The Thief of Wall Street
  • #901,578
  • May 29, 2014 10:22pm May 29, 2014 10:22pm
Trading the eur/usd ...everything really...i've found is much more difficult now than it was a few years ago. It seems the market as has slowed to a crawl. I remember that there was good ranging all day/night usually...peak periods for sure, but in general there was always good movement. Now I find that it's a case of absolutely nothing happening for hours on end, sometimes days of nothing but sideways...then BAM a huge move. Rather frustrating.
learn by failure,succeed by learning
Aim Small Return Today: -5.6%
  • #901,579
  • May 29, 2014 10:23pm May 29, 2014 10:23pm
Good Morning Guys. I am a rookie trater and really confused about the EURUSD today. I was thought to trade with the trend but reading all the posts here on a regular basis it does not seem like everyone does this. I have been trading on and off for the last 3 years on a micro account and i am still learning quite a bit.

My analisys for today i would say Euro going up slightly to 1.363, but if she breaks 1.36 level and 1.358 does not hold the support then we got a free fall to 1.355. I dont see much resistence from 1.358 down to 1.355. Please correct me if i am wrong. And yes i am a noop to all those people that want to have a bash at me.

I am here to learn and have no one to ask but you guys. I feel i should get involved here.
and yes i am trading on a real account. I found that the demo account did not help. To easy to go ag what the hell. Thats why i trade on a micro account.

Thanks to everyone keeping us entertained on this form. Some guys or girls really have a go at each other
This is my outlook for the day.
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  • #901,580
  • May 29, 2014 10:24pm May 29, 2014 10:24pm
Quoting Kofmaster
{quote} then from 224 to 1million. then back to 1k. are you good? Consistent means good. sudden spike in your pnl doesn't mean you are good.
Thanks for the feedback.

What about consistent small losses but an infrequent major win?, or consistent small gains and an infrequent major loss?
The Thief of Wall Street
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