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EURUSD

  • #926,541
  • Sep 27, 2014 10:51pm Sep 27, 2014 10:51pm
Quoting smash1820
{quote} trend is your friend
No. I don't believe in any trading myth.............. not a single one. It is all about first knowing how this market works, then your MM and Patience......... rest is bullshit.
The Thief of Wall Street
  • #926,542
  • Edited 11:14pm Sep 27, 2014 10:55pm | Edited 11:14pm
Quoting rehorst
{quote} The "trick" is MM. Send me a PM if you want the two-pager that explains the method I learned from another FF member.
Thanks. I will send you a PM when my method fails, also got this method from another FF member - X.oden is his user name. I am currently testing this method in extreme conditions, if it passes this test............ Wallah!. So far I am still up 6% in a market that is totally against my USD/JPY position, think how much I will gain if it goes back to 90.00's, which will happen before my 5th wife gives birth to my 35th.

His second last post here on FF, before he was assassinated by the MCartel (Check GlobalGKD news of Feb 30, 2013 for details)

Quoting X.Oden
Currently up 825 pips on my original short since 1.41228 not including half a dozen positions added along the way....waiting for wave 5 Accumulating more.....monthly setting up to climb, but there's PLENTY of time Daily and Weekly cycles have to complete first Seek n Destroy! So there's PLENTY of time! {quote}
The Thief of Wall Street
  • #926,543
  • Sep 27, 2014 11:30pm Sep 27, 2014 11:30pm
some interesting stats. Credit :Oanda.com
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Forex Open Position Ratios.png Size: 18 KB
Click to Enlarge Name: eurusd_1m(1).png Size: 72 KB
Click to Enlarge Name: eurusd_1m.png Size: 73 KB
Whenever i buy the price goes up & whenever i sell the the price goes down!
  • #926,544
  • Sep 27, 2014 11:43pm Sep 27, 2014 11:43pm
Quoting Chicky
{quote} One thing that always bothered me is that if one is trading long-term on a big time-frame, what happens if pa comes back and hits their stop loss after 3 or 4 years; or it neither touches their TP or SL for months? So what they do to generate reasonable ROI? The answer that I found is that, they keep on minimizing their risk until it becomes a no risk trade, may also book some profit while trade is running. I haven't booked any profit yet, maybe book some on the next margin call. Please note that minimizing risk does not necessarily mean...
I mean one can leverage up all the brokers margin, only when positive of course and let the broker margin call stop you out in a profit. How that is done is a different strategy on its own but it works depending on the situation. That's a no risk trade.
"Diversification is an excuse for a lack of talent" ~FXC
  • #926,545
  • Sep 28, 2014 1:22am Sep 28, 2014 1:22am
Quoting Miguel.N
{quote} {quote} {quote} {quote} ...soo sad if you didn't shorted max without stop lost ! -( ...i am shorting max without stop lost and without any limit... short agressive and blindly, and close manualy to cash big and easy money! -) ...but i always thanks god and thanks the ones who are longing... yeehaaa -) {image}
Lol, Me too
Forex as Leverage
  • #926,546
  • Sep 28, 2014 11:50am Sep 28, 2014 11:50am
Quoting Chicky
{quote} No. I don't believe in any trading myth.............. not a single one. It is all about first knowing how this market works, then your MM and Patience......... rest is bullshit.
Love it! You really have a way of making the complicated understandable.
Defending Truth, Capitalism and the US Constitution
  • #926,547
  • Sep 28, 2014 11:51am Sep 28, 2014 11:51am
Now when all retail is screaming for lower numbers, it makes me a little worried about shorting this. Looks like it will be safer to watch first.
Everyone can see the chart, but only a few can actually read it.
  • #926,548
  • Sep 28, 2014 11:54am Sep 28, 2014 11:54am
Quoting smash1820
{quote} trend is your friend
What if those long term traders have a target of 400 pips, for example, and 50 pips before its achieved, the trend changes and eventually hits their SL, so instead of 350 pips, they lose 200? We have people like that here, too. There is one guy here, I won't name him, he is the master at wrong entries and exits, yet he claims he is trading millions.
Everyone can see the chart, but only a few can actually read it.
  • #926,549
  • Sep 28, 2014 12:35pm Sep 28, 2014 12:35pm


http://www.forexlive.com/blog/2014/0...he-week-ahead/
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-09-28_23-05_Poll- Will the euro gain or.jpg Size: 51 KB
Don't speculate trade with surety.
  • #926,550
  • Sep 28, 2014 1:07pm Sep 28, 2014 1:07pm
Quoting OnlineAddict
What if those long term traders have a target of 400 pips, for example, and 50 pips before its achieved, the trend changes and eventually hits their SL, so instead of 350 pips, they lose 200? We have people like that here, too. There is one guy here, I won't name him, he is the master at wrong entries and exits, yet he claims he is trading millions.
First of all, to Chicky, "the trend is your friend" is not a trading myth. It is a well-known fact that almost every trader long-term and even short-term will agree with, so I dunno what you're talking about calling that BS. I probably understand market mechanics and structure better than anyone else here, I would argue.

Second, in response to OA, I hope you are not talking about me! Sure, I have made some bad entries with bad exits, but I've also made some perfect entries with perfect exits, and that seems to be the norm when I am really intensely focused on the markets. My recent AUD/CHF is an example. Perfect entry, made 200'ish+ pips in a few hours (I forgot the exact number), but then I got greedy and foolishly let it turn into a loss, or at least a very small profit.

I don't understand what your question is. What if you do that?? Ok, then you're an idiot for not taking your profit, and the example I gave above is no exception. The only way to grow as a trader is to embrace your mistakes and learn from them so they do not happen again.

Finally, I am not a long term trader, nor have I ever claimed to be trading millions as of yet, so it surely can't be me that you are talking about! I'm going to guess "dancingphil".
Please check out my blog at https://from-zero-to-hero . net
  • #926,551
  • Sep 28, 2014 1:51pm Sep 28, 2014 1:51pm
AUDUSD

Can the AUDUSD hit as low as 0.7600?
This is a projection of what might be in store for this pair.
Given that at the moment I don't see any other harmonic patterns in the smaller time frames this Weekly chart shows a perfect ABCD with retracement .447 confluence with yearly pivot and fast acceleration down passing .618 and .786 with respective bounces but no more than that. This is a Weekly chart so I don't expect to hit the target overnight, however my direction for the longer term is clear. There is one final test at 0.8676, 100% ret + .786 Monthly chart + natural support and then 0.82 should follow, Yearly S1. One of my entries was precisely at C point (posted here http://www.forexfactory.com/showthre...sd#post7574321) but at that time a move only to 0.82 seemed reasonable.
Note: Any reversal candles or reversal harmonic patterns might cancel this outlook, but only if they happen on Monthly, Weekly or Daily charts.
My job is to look for the best R:R entries possible to add more shorts which I will post here.
Attached Image (click to enlarge)
Click to Enlarge Name: aususd Weekly.png Size: 196 KB
We watch the charts from every angle so you don't have to!!
  • #926,552
  • Sep 28, 2014 2:10pm Sep 28, 2014 2:10pm
Quoting smash1820
Second, in response to OA, I hope you are not talking about me!
No, I wasn't talking about you.
Everyone can see the chart, but only a few can actually read it.
  • #926,553
  • Sep 28, 2014 2:12pm Sep 28, 2014 2:12pm
Quoting smash1820
I don't understand what your question is. What if you do that?? Ok, then you're an idiot for not taking your profit, and the example I gave above is no exception.
I agree with you on this. Because I had a fight with some puppets who were backing up one trader in here, who's profit target was missed by 4 pips and he still didn't close. Then the trade went 300 pips in the opposite direction and he claimed to be happy about it, because thats what position traders do.
Everyone can see the chart, but only a few can actually read it.
  • #926,554
  • Sep 28, 2014 2:21pm Sep 28, 2014 2:21pm
Quoting OnlineAddict
I agree with you on this. Because I had a fight with some puppets who were backing up one trader in here, who's profit target was missed by 4 pips and he still didn't close. Then the trade went 300 pips in the opposite direction and he claimed to be happy about it, because thats what position traders do.
LOL oh my

Quoting pedro319
AUDUSD Can the AUDUSD hit as low as 0.7600? This is a projection of what might be in store for this pair. Given that at the moment I don't see any other harmonic patterns in the smaller time frames this Weekly chart shows a perfect ABCD with retracement .447 confluence with yearly pivot and fast acceleration down passing .618 and .786 with respective bounces but no more than that. This is a Weekly chart so I don't expect to hit the target overnight, however my direction for the longer term is clear. There is one final test at 0.8676, 100% ret +...
Wrong thread dude. No one here cares about Aussie. Did you forget to look at the thread title?
Please check out my blog at https://from-zero-to-hero . net
  • #926,555
  • Sep 28, 2014 2:23pm Sep 28, 2014 2:23pm
Quoting pedro319
USDJPY Possible Bfly Sell completion at 109.40 1 hour chart. Last Bfly failed, let's see if this one makes it! There is also possibility for ABCD 4 hrs chart with 1.618 very close to Weekly R1 at 110.03 {image} {image}
USDJPY
Bfly 1 hour Sell is now part of the past and now my focus returns to completion of this ABCD 4 hours chart. Note that I don't call you on closing the position entirely at target, those levels mentioned have higher probability of strong bounce against the main trend (change in direction on smaller tfs) the only levels that I consider for main reversal are usually the ones on Weekly chart that I have discussed here before.
Look for the new Weekly and Daily pivots for further confluence, also on Wednesday we will have new Monthly pivots.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY ABCD 4 hrs.png Size: 159 KB
We watch the charts from every angle so you don't have to!!
  • #926,556
  • Sep 28, 2014 2:31pm Sep 28, 2014 2:31pm
10 pip gap up for now.
Why sell the bottoms when you can buy the tops...
  • #926,557
  • Sep 28, 2014 2:35pm Sep 28, 2014 2:35pm
Quoting pedro319
EURUSD I expected some reaction to 1.2760, but price proceeded to MS3 1.2711 and that was one of my suggestions. Until patterns or reversal candles appear, I will start focusing on next major support at 1.2190, of course this is slightly ahead but at least I know there are no solid reasons to long this pair apart from small scalps. 1.2190 is 61.8 minor Extension of major ABCD Monthly chart. http://www.forexfactory.com/attachme...2&d=1410285648 {image}
EURUSD
Long term trend is clear and two days remaining to confirm 3 Black Crows pattern Monthly chart. Price usually gravitates towards harmonic targets, the only place I expect some significant bounce is 1.2190 (explained on previous post), before that only 1.2328, yearly pivot support 2. Meanwhile will look where best to add shorts.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd monthly.png Size: 192 KB
We watch the charts from every angle so you don't have to!!
  • #926,558
  • Sep 28, 2014 2:53pm Sep 28, 2014 2:53pm
Quoting JustAndy
10 pip gap up for now.
Just showing the first direction...I will open my first short between 2720-40, but once 2765 is broken, there won't be any shorts for me until 2830-60.
Everyone can see the chart, but only a few can actually read it.
  • #926,559
  • Sep 28, 2014 2:59pm Sep 28, 2014 2:59pm
Quoting smash1820
{quote} First of all, to Chicky, "the trend is your friend" is not a trading myth. It is a well-known fact that almost every trader long-term and even short-term will agree with, so I dunno what you're talking about calling that BS. I probably understand market mechanics and structure better than anyone else here, I would argue. Second, in response to OA, I hope you are not talking about me! Sure, I have made some bad entries with bad exits, but I've also made some perfect entries with perfect exits, and that seems to be the norm when I am really...
Let me clarify that the only one who trades in millions here is me. Therefore he was referring to me.

Trend is your friend, is a myth, a trading myth. There was a guy here on FF few years ago who was a great trend follower. He turned his $3,000 into more than a million. I think from 2006 to 2009, or so. Then there was a news that he was in red maybe because the trend turned against him. He used to charge $700 fee per client for letting them know about his live trades, teaching lessons, cost of e-mails, etc. Then he created a fund guaranteed 30% pa return, collected few million dollars from the traders (few from FF) and disappeared. He followed the trend set by Con Artists and that trend was his friend. His traces are found in his thread Jacko's Forex House of Pleasure and Pain. If you are trend followers, some good ideas in that thread.
The Thief of Wall Street
  • #926,560
  • Sep 28, 2014 3:08pm Sep 28, 2014 3:08pm
We are going lower before any bounce... which is fine with me... I'm just going to sit here and wait for the breakout..... There will only be a 60 to 100 pip bounce, and it won't be from here it will be from 1.2620-1.2630...from what my charts tell me.... 2720-40 maybe??? We all looking for a better place to short from...because it's been made quite clear that this isn't the bottom...
I'll pick up the crumbs don't need the whole pie
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