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EURUSD

  • #929,081
  • Oct 12, 2014 1:36pm Oct 12, 2014 1:36pm
USD index inversely correlating to EURUSD on the daily?
Attached Image (click to enlarge)
Click to Enlarge Name: USD Index Daily 10Oct14 .jpg Size: 508 KB

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4 14.png Size: 50 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #929,082
  • Oct 12, 2014 3:05pm Oct 12, 2014 3:05pm
Quoting P.technique
Tiny GAP to the upside, trading 1.2648 at the moment, off market price of course. http://www.xe.com/
yes
rat
  • #929,083
  • Oct 12, 2014 3:08pm Oct 12, 2014 3:08pm
Quoting pedro319
{quote} Very well said. Mark Douglas has a similar remark in his Trading in the Zone book. However, You should as well have built a system and figured out what works and what doesn't over a sustained period of time, otherwise it's pure roulette and you don't have an edge to play it.
sure....In my view all 3 aspects are important, but psychology is the most important (about 60%), MM (30%) and system development is the least important (10%)

Why is psychology the most important?, Because it not easy to find a system that much your personality unless you know a bit about yourself (tough one), if and when we do find it everything becomes fluid, there is no constrain, we become a money machine combined with proper MM.
  • #929,084
  • Oct 12, 2014 3:08pm Oct 12, 2014 3:08pm
Quoting pedro319
{quote} I will pm them to you later.

Can you send them to me to please?
Thank you in advance for help and info you provide here on forum.
  • #929,085
  • Edited Oct 13, 2014 2:16am Oct 12, 2014 3:09pm | Edited Oct 13, 2014 2:16am
This is more like it for EURUSD, when it is inversely correlating to USD Index on the daily in the last 5 months.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily 15.png Size: 49 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #929,086
  • Oct 12, 2014 4:07pm Oct 12, 2014 4:07pm
Quoting MickeyBlue
{quote} sure....In my view all 3 aspects are important, but psychology is the most important (about 60%), MM (30%) and system development is the least important (10%) Why is psychology the most important?, Because it not easy to find a system that much your personality unless you know a bit about yourself (tough one), if and when we do find it everything becomes fluid, there is no constrain, we become a money machine combined with proper MM.
Agree! A good system that becomes mechanical allows less emotions into your decisions that are bounded to precise rules, MM does the rest.
We watch the charts from every angle so you don't have to!!
  • #929,087
  • Oct 12, 2014 4:12pm Oct 12, 2014 4:12pm
USDJPY
Watch for 107.15 area to buy. Mark your 1.618 Ext 4 hrs, if it breaks you can close it, or place the stop below 1.702 Ext.
Alternatively, wait for reversal candle or candlestick pattern.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY 4 Hrs ABCD.png Size: 167 KB
We watch the charts from every angle so you don't have to!!
  • #929,088
  • Oct 12, 2014 4:18pm Oct 12, 2014 4:18pm
Quoting pedro319
{quote} Agree! A good system that becomes mechanical allows less emotions into your decisions that are bounded to precise rules, MM does the rest.
yes...when we trade money for living, we do not want have second thoughts, we execute our system that fits our personality, a negative outcome will only be viewed as a positive one or just as an expense to run a business, we know that a particular outcome is only a part of the big picture. Interpretation and artistic flavours is best used to find us and a system that we relate too.....

Us index closed above the previous 5 day close and bond is strong....
  • #929,089
  • Oct 12, 2014 4:36pm Oct 12, 2014 4:36pm
Quoting ziga992
{quote} Can you send them to me to please? Thank you in advance for help and info you provide here on forum.
In your inbox.
We watch the charts from every angle so you don't have to!!
  • #929,090
  • Oct 12, 2014 4:44pm Oct 12, 2014 4:44pm
Quoting pedro319
EURUSD Possible harmonic scenarios. 1- ABCD 4 hours chart. Invalidation point stands at around 1.2561 which is .786 Ret same tf, if prices passes through then I will be looking at 2nd scenario. GBPUSD has a similar setup. areas. {image} {image} {image}
GBPUSD
Traded the blue one last week and now the orange could work. I bought close to support, but ideally one should wait for retracements on smaller tfs and try with small stops.
Only until the low breaks.
R:R is good.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 4 Hrs ABCD.png Size: 69 KB
We watch the charts from every angle so you don't have to!!
  • #929,091
  • Oct 12, 2014 4:56pm Oct 12, 2014 4:56pm
guys its bank holiday in japan,bank holiday in canada

and do you know its bank holiday in United States!

I didnt know

Its going to be flat day.

Bed time! have a nice sleep!
Its not an advice and sorry for grammar.
  • #929,092
  • Oct 12, 2014 5:23pm Oct 12, 2014 5:23pm
Quoting rehorst
{quote} Chicky, how to best learn about x.oden's method? Thanks.
1. Be kind to him and objectively see what he is trying to say
2. Provide all your personal details to him so that he verifies you are not a broker or some person who trades with other people's money
3. Provide all the assurances he asks you through e-mails and telephone calls
4. Give him your promise that you are not going to share this method with anyone.
5. Do extensive research on his method for about 4 to 5 years

This is what I did.......................... I won a jackpot of 20% to 30% pa ................ stress free
The Thief of Wall Street
  • #929,093
  • Oct 12, 2014 5:41pm Oct 12, 2014 5:41pm
Quoting Chicky
{quote} 1. Be kind to him and objectively see what he is trying to say 2. Provide all your personal details to him so that he verifies you are not a broker or some person who trades with other people's money 3. Provide all the assurances he asks you through e-mails and telephone calls 4. Give him your promise that you are not going to share this method with anyone. 5. Do extensive research on his method for about 4 to 5 years This is what I did.......................... I won a jackpot of 20% to 30% pa ................ stress free
The other comparatively simple method is to study how this market moves by selecting a time-frame from Daily to Weekly, plot the gold line, then euro/usd line, Then usd/jpy line, then lines for all remaining majors, then lines for all crosses of your interest. Once this messy chart is ready with a different color for every pair, plot another similar chart. For example if you prepare a chart for 2001, make a new one for 2002, then for 2003, then for 2004. After doing that, order few cases of scotch whisky from your local vendor, and read those charts for the next few months. By the time you finished reading charts and have consumed the whisky, you would know how this market works. After completing all this, you develop a method that works with the market. Some help is available in my thread Looking For Real Trading Method.
The Thief of Wall Street
  • #929,094
  • Oct 12, 2014 6:33pm Oct 12, 2014 6:33pm
Quoting DrGuap
{quote} Thank you MAM.Trader. I will use this strategy. Made a huge mistake but I'm willing to take the camel steps to fix it. As long as it takes.
The real issue is you couldn't make 1 decision on when to stop out of your trade. Now with this hedge you're trying to create you have to make 2 decisions, when to close one side and when to open the other. Making 2 decisions is not going to be easier than making 1 decision. When you enter a trade define a stop and stick to it, everybody loses some trades, no shame in that, losing all your money though because of no plan, wellllllllll.
good luck to you
Without a trade plan, say bye bye to your account & hello to frustration.
  • #929,095
  • Oct 12, 2014 6:52pm Oct 12, 2014 6:52pm
Quoting MAM.Trader
there is no guarantee for this or that direction. closing winners running losers or vice verse may end with victory or bust. you should handle each of it speprate. closing some (small) partial form winner trade & using that amount to open new one with SL TP added to make some more gain. its camel steps precedure from now. slow painfull patiencefull prgress. with %5 account already dead. it needs intensive care for a quite long time. or just toss a coin GL {quote}
If I were you, would close old trades that have least potential regardless if they show profit or loss.
The Thief of Wall Street
  • #929,096
  • Oct 12, 2014 6:55pm Oct 12, 2014 6:55pm
Inserted Video
"W. D. Gann said that time is the most important factor among all things."
  • #929,097
  • Oct 12, 2014 8:38pm Oct 12, 2014 8:38pm
Think bulls are back...
  • #929,098
  • Oct 12, 2014 8:45pm Oct 12, 2014 8:45pm
Quoting pouyanv
Think bulls are back...
How can you say that. Post a chart.
The Thief of Wall Street
  • #929,099
  • Oct 12, 2014 9:02pm Oct 12, 2014 9:02pm
Quoting Chicky
{quote} How can you say that. Post a chart.
Shorted eur from 1.2684 for a quick scalp of 20/25 pips
The Thief of Wall Street
  • #929,100
  • Oct 12, 2014 9:10pm Oct 12, 2014 9:10pm
Quoting Chicky
{quote} How can you say that. Post a chart.
Closed my long at 1.2682 set a buy stop at 1.27
It's testing it's fib 261.8 but 1h chart is overbought on rsi and stochastic, wait to enter a long again on lower levels og at buy stop. eur just can't go to hell with shorts!
p.s nothing wrong with your short here but i wouldnt tak this risk, regards
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