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  • #932,981
  • Nov 1, 2014 7:09am Nov 1, 2014 7:09am
Quoting fxtyrant
{quote} dude, i just graduated.... gotta start somewhere...
Sure, just don't plan on staying too long - one year is better - without moving out ... the longer you stay, the more you gonna get the look when saying " i was in FX flow"!
"It's the Margin, Stupid."
  • #932,982
  • Nov 1, 2014 10:42am Nov 1, 2014 10:42am
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Founder of Sutherland Wave Principle
  • #932,983
  • Nov 1, 2014 10:57am Nov 1, 2014 10:57am
Quoting smikester
{quote} I see that support as broken - that's what I meant. So I agree. It's a pretty solid landing for the end of a week. This coming week is NFP so I suppose we will range until Friday.
It's definitely possible that you're correct and that support is broken, and if it is, we should hit 1.20xx or so in short order. However we did close the week (slightly) above the October 3 weekend, meaning that the break could've been false and in my view if we get back above 1.2650 or so we could still head to ~1.30xx before the end of the year.
  • #932,984
  • Nov 1, 2014 11:06am Nov 1, 2014 11:06am
Quoting joelmusicman
{quote} It's definitely possible that you're correct and that support is broken, and if it is, we should hit 1.20xx or so in short order. However we did close the week (slightly) above the October 3 weekend, meaning that the break could've been false and in my view if we get back above 1.2650 or so we could still head to ~1.30xx before the end of the year.
nah the double-support isn't broken yet...a break mean we get lower and hold it at the two nexts H1/H4 candles... the lower spikes doesn't count as a break...
DONT ASK ME QUESTION, BUT U CAN BAN ME I DONT CARE!
  • #932,985
  • Nov 1, 2014 12:25pm Nov 1, 2014 12:25pm
Quoting fxtyrant
{quote} Well, the bank i work for is so massive they need sales trader to deal with the sell-side of things like our multinational clients, and also to deal with the traders and counter-party banks, when we receive order from our client, we immediately talk to our dealers upstairs for our bank's price and we start to search on the market for better prices... because bigger orders would get a better price (tier-pricing) we cannot rely on our bloomberg terminal ALLQ to get all the quotes on the streets, we need to talk to our counterparty banks to...


WOW! you must be really good ...
  • #932,986
  • Nov 1, 2014 2:19pm Nov 1, 2014 2:19pm
Quoting ericnyamu
{quote} wow . nice performance! i hope you werenot trading nano lots though
Thanks for the comment, Eric. I have been adding funds to the account gradually. As the account scales up I can't help but wonder what will change. I sense that "gradually" is a key to success." Please advise.
  • #932,987
  • Nov 1, 2014 3:35pm Nov 1, 2014 3:35pm
Quoting rehorst
{quote} Thanks for the comment, Eric. I have been adding funds to the account gradually. As the account scales up I can't help but wonder what will change. I sense that "gradually" is a key to success." Please advise.
The biggest reason people fail in FOREX is overtrading their account. I'm working with $15K and I'm still finding that standard lots are too much. Every now and then I'll use them and had some success with them, but I've been shaken out (often at the very bottom) during adverse moves...
  • #932,988
  • Nov 1, 2014 5:25pm Nov 1, 2014 5:25pm
Quoting joelmusicman
{quote} The biggest reason people fail in FOREX is overtrading their account. I'm working with $15K and I'm still finding that standard lots are too much. Every now and then I'll use them and had some success with them, but I've been shaken out (often at the very bottom) during adverse moves...
Thanks, Joel. Yes, I intend to increase trade size by only the percentage of my account growth. Greed will say every time, 'Hey, you've been successful! Go ahead and bump the ante way up." (My short trades at this time are tiny, five times smaller than longs at this area of the EURUSD range.)
  • #932,989
  • Nov 1, 2014 11:08pm Nov 1, 2014 11:08pm
Quoting joelmusicman
{quote} The biggest reason people fail in FOREX is overtrading their account. I'm working with $15K and I'm still finding that standard lots are too much. Every now and then I'll use them and had some success with them, but I've been shaken out (often at the very bottom) during adverse moves...
Stress is not good for a trader. It also affects your decision making power. If you want to trade with standard lots why don't you put little bit more money into your account and trade with 10 or 15 million dollars? Believe me, your life will be much easier.
The Thief of Wall Street
  • #932,990
  • Nov 1, 2014 11:41pm Nov 1, 2014 11:41pm
Quoting Chicky
{quote} Stress is not good for a trader. It also affects your decision making power. If you want to trade with standard lots why don't you put little bit more money into your account and trade with 10 or 15 million dollars? Believe me, your life will be much easier.
?? not everyone has all that money...
Buy at the Low, Sell at the High You make money by waiting not by trading.
  • #932,991
  • Nov 1, 2014 11:46pm Nov 1, 2014 11:46pm
Quoting Lacunoide
{quote} ?? not everyone has all that money...
Lol you wouldnt even deal with a retail broker when you got 10 to 15 million USD to trade forex with....
10-15 million USD gets you a direct line to a bank's private bank dealer....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #932,992
  • Nov 2, 2014 2:42am Nov 2, 2014 2:42am
Quoting suthmo
{image}
I finally got the t shirt last week. I even moved addresses in between.

I have to say I thought it would be better, but I look forward to running into fellow FF members on the road
  • #932,993
  • Nov 2, 2014 3:02am Nov 2, 2014 3:02am
http://www.gfx.gbm.scotiabank.com/Chart_Feed/IMM.pdf

weekly COT report showing big increase in short contracts, again, on the Euro/Dollar.

supply and demand zones on attached graph...
IMO, a good short for ~2 weeks.
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  • #932,994
  • Nov 2, 2014 3:05am Nov 2, 2014 3:05am
Quoting Chicky
{quote} Stress is not good for a trader. It also affects your decision making power.
Stress can also harm your health. Not good, I'm here ta tell ya pard!
  • #932,995
  • Edited 4:19am Nov 2, 2014 4:04am | Edited 4:19am
yeah the plan is don't take risks, just trade when you sure... double support + Fundamentals got me in trouble, damn it, whats the plan for tomorrow? idk
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DONT ASK ME QUESTION, BUT U CAN BAN ME I DONT CARE!
  • #932,996
  • Nov 2, 2014 4:13am Nov 2, 2014 4:13am
Quoting joelmusicman
{quote} The biggest reason people fail in FOREX is overtrading their account. I'm working with $15K and I'm still finding that standard lots are too much. Every now and then I'll use them and had some success with them, but I've been shaken out (often at the very bottom) during adverse moves...
yeah nothing good come from overtrading HFT and all.. it's better to play it carefully, it's a surgical job afterall...nobody can come and pretend that it is easy...just Be cool...i will show you another photo all, just check the truth...
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DONT ASK ME QUESTION, BUT U CAN BAN ME I DONT CARE!
  • #932,997
  • Nov 2, 2014 4:22am Nov 2, 2014 4:22am
Quoting fxtyrant
{quote} Lol you wouldnt even deal with a retail broker when you got 10 to 15 million USD to trade forex with.... 10-15 million USD gets you a direct line to a bank's private bank dealer....
What amount of money makes this possible? What would be the minimal amount needed? This private connection also has extra benefits like better spread / less commission?
  • #932,998
  • Edited 7:51am Nov 2, 2014 7:40am | Edited 7:51am
Quoting ExForX
{quote} What amount of money makes this possible? What would be the minimal amount needed? This private connection also has extra benefits like better spread / less commission?
Fxtyrant can prolly shed more light into this. I think for small timers to live off forex I'd say 10-50k is a decent sum to start with but money that you're willing to lose and still be just fine. Some people take it off their 401k, loans, etc and that approach can end in disaster because you still have to account for losses and should you have one you're sol.
  • #932,999
  • Nov 2, 2014 9:51am Nov 2, 2014 9:51am
@Fxtyrant. why donot you just open an ecn account and trade euro/usd with all those millions and be the star of your bank. e.g is you sold the euro$ at 1.39xx for long term ...
  • #933,000
  • Nov 2, 2014 9:54am Nov 2, 2014 9:54am
Quoting gatorinla
1/4 quarter red, month red,(below 2539) week red, day red. now with mpp at 2632..kinda wickish on both ends.. 2567/76 i have as new untested R. also 2522 2539 2373 are probably the ones that matter.. in the shorter term 2586 is higher then 2567/76, its a normal touch+ before 2448/49 ... larger closes below 2522 are bearish, more bearish after rejection with a high tf close. just like the rejection we just had Friday of 2606 and 2539, but these are on larger scales as was 398x... so touching 2586 or mpp is hard to do
euro is funny anyway .there's still hope for bulls.....
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