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EURUSD

  • #929,041
  • Oct 10, 2014 2:33pm Oct 10, 2014 2:33pm
Yes . the US dollar getting stronger but i think Monday will show us new move .
  • #929,042
  • Oct 10, 2014 2:51pm Oct 10, 2014 2:51pm
the largest retrace thus far since 3992.. just under 20% of 1492 pips,, see ya
those who can, do. those who cant, talk about those who can
  • #929,043
  • Oct 10, 2014 2:52pm Oct 10, 2014 2:52pm
Quoting Nicolette
hello, I need your advices on the big problem I got myself into. I went short on Eur/USD at 1.2550 then when it went up so badly I hedged at 1.2750 to avoid getting wiped out. What do you advice me to do to get out of this with not such a big loss. Your thoughts will be much appreciated. Thanks
you already made the decision when you hedged so close both start again. Dont hedge dont sit on 200 pip draw downs
  • #929,044
  • Edited 3:45pm Oct 10, 2014 3:32pm | Edited 3:45pm
Going to close two shorts and take the $ (as my goal TP was not quite hit) and treat the third most in the money as a longer term play into next week. I typically don't like holding over the weekend, particularly when we had a decent retrace this week.

Edit: I chickened out and took the $ on all three. Will watch to see if the pair stays sideways next week or has enough momentum to break 25 area. If it drops and stalls to 25 again next week early, I will likely take a long with a tight stop. It it goes north, will play shorts all week and hope that one of those is alive when 25 eventually does break. Keep it simple.
  • #929,045
  • Edited 3:50pm Oct 10, 2014 3:40pm | Edited 3:50pm
french outlook s/p cut from stable to negative http://www.cnbc.com/id/102077802
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those who can, do. those who cant, talk about those who can
  • #929,046
  • Oct 10, 2014 3:48pm Oct 10, 2014 3:48pm
I was thinking to open a position (short) as well but tomorrow draghi and fischer will make speech.No necessary to risk really. I think that next week there wont be so big votality anyway . I am just happy because its not only keep falling,its also going up too.It has double potential. Its good for trading.
have a nice weekend.
Its not an advice and sorry for grammar.
  • #929,047
  • Oct 10, 2014 4:01pm Oct 10, 2014 4:01pm
2623 close print..
those who can, do. those who cant, talk about those who can
  • #929,048
  • Oct 10, 2014 4:17pm Oct 10, 2014 4:17pm
Quoting gatorinla
2623 close print..
And a nice weekly candle.
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  • #929,049
  • Oct 10, 2014 11:10pm Oct 10, 2014 11:10pm
How do I backtest a system?
  • #929,050
  • Oct 10, 2014 11:16pm Oct 10, 2014 11:16pm
Quoting gatorinla
{quote} good one, i had a st setup for a long 108.xx. i have a large mid at 111.xx .. i was shooting for it. obviously i lost that one. it didn't get 2727 on the eu last night while sleeping either. the 24 and 12 closed red.. a ugly red. but never to less red. i closed most of my shorts anticipating a 2727 bounce, it got to 2715. so i have a light load.. 1h hammer, but still a red 12 and 24 in that same close, that's why i said ugly red. red under 2673!
I follow a simple method gifted by x.oden about five years ago.If you remember that chap driven away from this thread by few. This method remained under logic testing for about five years. I now don't have to worry about any technical, use them just for entry. More I dig into basics of this method, more I believe in the market value of this method claimed by x.oden ......................... one billion dollars. Outcome either positive or BE. This trade is the final test of this method. I wonder even if he truly knows what he got from his boss, a forex billionaire.
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The Thief of Wall Street
  • #929,051
  • Oct 10, 2014 11:36pm Oct 10, 2014 11:36pm
Quoting Chicky
{quote} I follow a simple method gifted by x.oden about five years ago.If you remember that chap driven away from this thread by few. This method remained under logic testing for about five years. I now don't have to worry about any technical, use them just for entry. More I dig into basics of this method, more I believe in the market value of this method claimed by x.oden ......................... one billion dollars. Outcome either positive or BE. This trade is the final test of this method. I wonder even if he truly knows what he got from his...
So you don't believe in technicals but you rely on them for your entries!
We watch the charts from every angle so you don't have to!!
  • #929,052
  • Oct 11, 2014 2:15am Oct 11, 2014 2:15am
Quoting barbones
{quote} kamikaze?
no, thats not me
  • #929,053
  • Oct 11, 2014 2:45am Oct 11, 2014 2:45am
Maybe the perfect inverted hammer on Weekly (smart buying in VSA) will show what EU is also going to do.
  • #929,054
  • Oct 11, 2014 4:58am Oct 11, 2014 4:58am
eurousd has so far fallen 1487 pips. if you system caught all of that pips then you have the HOLY GRAIL of forex.
  • #929,055
  • Edited 6:34am Oct 11, 2014 5:16am | Edited 6:34am
Quoting CandleStar
{quote} Does not look like that. Will hold my long til next week.
looks bullish on weekly , though
  • #929,056
  • Oct 11, 2014 5:18am Oct 11, 2014 5:18am
Quoting pips777
{quote} ======= = http://screencast.com/t/txwPi4FM
that chart looks like something Optimus Prime would be trading . lol
  • #929,057
  • Oct 11, 2014 5:19am Oct 11, 2014 5:19am
Quoting pips777
6 hrs 2 go B4 closin
just start your weekend early . thats one heck of a long count down ! eheheh
  • #929,058
  • Oct 11, 2014 6:33am Oct 11, 2014 6:33am
Quoting Firstboss
@Chazzle, on USD/CAD the weekly R1 (greenish line, 1.1190) must be decisively broken in order to justify longs. It was positioned to go up before the news release (note how weekly R1 was respected from the top side, not it serves as a ceiling) I am not saying it can't be broken, but you have to wait for it on a 1-hr time scale {image}

damn. you are really close to the price with that chart
  • #929,059
  • Edited 12:04pm Oct 11, 2014 11:42am | Edited 12:04pm
Quoting pedro319
{quote} So you don't believe in technicals but you rely on them for your entries!
I do not use technicals like pattern, fibs, bat, butterflies, trend lines, stochs, HH, LL, pivots, etc. But it doesn't mean I trade with eyes closed. Have to study charts for things like how pa is reacting to a new development, going up or down, pulling back, consolidating or trending, etc. As far as believing on technical studies is concerned there is nothing wrong in believing in technicals, but one should have a method that tells what to do if technicals do not play out as expected. My method has few such good tactics and therefore I don't have to worry too much if technicals do not play out or if I take a trade disregarding technicals. In other words I am not reliant on technicals as a strategy, but use them as tactics or a measuring tool. I first decide to long or short, and then look at the technical for optimum level, it is not other way round. I do not short/long only if pa has touched a fib or weekly close, etc. but use them to enter/pyramid my trade and not always or most of the time. Have 108.00 for usd/jpy, if it goes above that level, will try to cover my back but won't worry until it crosses 111.00. Now I don't know if one calls this thinking a technical one. These are just my levels from where a downward trend is expected to start.

ps. Is there anything which you want and that you can buy for 2 billion dollars but not for 1 billion dollars? Any amount above 1 billion is useless in most cases. Same is true for a currency. No matter what bad news come out after it has reached a bottom, it wont affect the price as much. Who was that guy Carl Marks? There is something about diminishing satisfaction level in economics. Long time ago, don't exactly remember.
The Thief of Wall Street
  • #929,060
  • Oct 11, 2014 12:42pm Oct 11, 2014 12:42pm
Quoting Chicky
{quote} I do not use technicals like pattern, fibs, bat, butterflies, trend lines, stochs, HH, LL, pivots, etc. But it doesn't mean I trade with eyes closed. Have to study charts for things like how pa is reacting to a new development, going up or down, pulling back, consolidating or trending, etc. As far as believing on technical studies is concerned there is nothing wrong in believing in technicals, but one should have a method that tells what to do if technicals do not play out as expected. My method has few such good tactics and therefore I...
Here it is. It is called Law of Diminishing Marginal Utility

http://en.wikipedia.org/wiki/Marginal_utility
The Thief of Wall Street
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