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  • #945,801
  • Dec 22, 2014 3:02pm Dec 22, 2014 3:02pm
Quoting halkins
{quote} Hmmm... not quite agree with you buddy... I mean about going LONG. You probably have noticed very low liquidity on each currency pair. Most of "Big Boys" have already been out enjoying Xmas. Without them we'll probably go sideways bouncing up and down in a shallow 150 pips range. Now it's mid-size and retail traders creating the movements so this is why we have this rollercoaster today. Now, if someone is targeting quick 30-100 pips LONG this seems to be a pretty good opportunity with reasonable SL. I don't think this Xmas market could push...

First of all...if you are going to respond read what I said. YES END OF YEAR THIN market i agree. I didn't say the move is happening this month did I? LONG TERM ITS DOWN AND WILL BE DOWN FOR A LONG TIME! LONGING IT IS STUPID....when YOU HAVE MANY OTHER PAIRS providing much better RISK VERSUS REWARD opportunity.

Edit: Then again...people who trade peanuts are okay with their below average profit/if any at all.
  • #945,802
  • Dec 22, 2014 3:13pm Dec 22, 2014 3:13pm
Quoting Rizmeister
{quote} First of all...if you are going to respond read what I said. YES END OF YEAR THIN market i agree. I didn't say the move is happening this month did I? LONG TERM ITS DOWN AND WILL BE DOWN FOR A LONG TIME! LONGING IT IS STUPID....when YOU HAVE MANY OTHER PAIRS providing much better RISK VERSUS REWARD opportunity. Edit: Then again...people who trade peanuts are okay with their below average profit/if any at all.
hehe,,, yeah.
It's all about what chart people see and where their targets are.
Someone on 15M says "good, go long" and the other one on 1D says "no man, go short"
In fact, they all are looking on different structures.
I tried many times being LONG TERM trader but it didn't work, as this is not my style.
So how long you keep your position opened?
Read Charts - Not Papers
  • #945,803
  • Dec 22, 2014 3:23pm Dec 22, 2014 3:23pm
where is he buy zone for the euro?
Whenever i buy the price goes up & whenever i sell the the price goes down!
  • #945,804
  • Dec 22, 2014 3:26pm Dec 22, 2014 3:26pm
Quoting deylon
where is he buy zone for the euro?
now
  • #945,805
  • Dec 22, 2014 3:31pm Dec 22, 2014 3:31pm
Quoting deylon
where is he buy zone for the euro?
Just like in my previous post.
It's all about the pips you want to eat.
This MIGHT BE a buy zone if the first signals are confirmed and if you're targeting first 30-50 corrective pips.
That's all. If you are however planing to grab entire 500pips or more, this is definitely too early to jump against strong downtrend.
You must wait for solid bottom to be formed.
Read Charts - Not Papers
  • #945,806
  • Dec 22, 2014 3:33pm Dec 22, 2014 3:33pm
Quoting halkins
{quote} Just like in my previous post. It's all about the pips you want to eat. This MIGHT BE a buy zone if the first signals are confirmed and if you're targeting first 30-50 corrective pips. That's all. If you are however planing to grab entire 500pips or more, this is definitely too early to jump against strong downtrend. You must wait for solid bottom to be formed.
Totally agree
Those that get up at 5 a.m. rule the world.
  • #945,807
  • Dec 22, 2014 3:34pm Dec 22, 2014 3:34pm
Quoting halkins
{quote} Just like in my previous post. It's all about the pips you want to eat. This MIGHT BE a buy zone if the first signals are confirmed and if you're targeting first 30-50 corrective pips. That's all. If you are however planing to grab entire 500pips or more, this is definitely too early to jump against strong downtrend. You must wait for solid bottom to be formed.
what are the indications for " solid bottom to be formed. "
Whenever i buy the price goes up & whenever i sell the the price goes down!
  • #945,808
  • Dec 22, 2014 3:35pm Dec 22, 2014 3:35pm
Quoting mkvy
{quote} now
and why would you say so?
Whenever i buy the price goes up & whenever i sell the the price goes down!
  • #945,809
  • Dec 22, 2014 3:35pm Dec 22, 2014 3:35pm
Quoting halkins
{quote} Just like in my previous post. It's all about the pips you want to eat. This MIGHT BE a buy zone if the first signals are confirmed and if you're targeting first 30-50 corrective pips. That's all. If you are however planing to grab entire 500pips or more, this is definitely too early to jump against strong downtrend. You must wait for solid bottom to be formed.
I agree.. for me 10 pips is enough for all 3 of my accounts..
The power of the 5 minute chart is breathtaking
  • #945,810
  • Dec 22, 2014 3:36pm Dec 22, 2014 3:36pm
Quoting deylon
{quote} and why would you say so?

its incredibly close to lots of resistance... New year, always brings a change of heart for a lot of things,
its got 23 minutes to give me a buy signal or im out of here... 16 hour flight to catch back to the uk... and for me just 23 minutes before I shut down my trading computer and im out of here!
  • #945,811
  • Dec 22, 2014 3:45pm Dec 22, 2014 3:45pm
Just dropping in ... seeing lots of gurus with magic balls again ... out again, waiting for better EUR/USD thread "setups" lol ... bye
Fix up, trade sharp ...
  • #945,812
  • Dec 22, 2014 3:49pm Dec 22, 2014 3:49pm
Quoting deylon
{quote} what are the indications for " solid bottom to be formed. "
Well, the problem is many traders dream about catching big move like 700-800pips looking for the entires on 5M chart with 10pips SL
and full leverage involved. They can't understand this is "Mission Imposible".
Without proper money managemet and also managing your positions it's like playing lotto.

It's really hard to tell you in one post about "all indications" but you try google "bottom formation forex"
and go into >> images << so you'll see hundreds of examples.
Read Charts - Not Papers
  • #945,813
  • Dec 22, 2014 3:51pm Dec 22, 2014 3:51pm
Quoting Hickson
Just dropping in ... seeing lots of gurus with magic balls again ... out again, waiting for better EUR/USD thread "setups" lol ... bye
the chart is like poetry as we speak
  • #945,814
  • Dec 22, 2014 3:58pm Dec 22, 2014 3:58pm
Quoting halkins
{quote} Well, the problem is many traders dream about catching big move like 700-800pips looking for the entires on 5M chart with 10pips SL and full leverage involved. They can't understand this is "Mission Imposible". Without proper money managemet and also managing your positions it's like playing lotto. It's really hard to tell you in one post about "all indications" but you try google "bottom formation forex" and go into >> images << so you'll see hundreds of examples.

no, im looking for 10 pips with a 100+ pip stop, very low lots...
  • #945,815
  • Dec 22, 2014 4:04pm Dec 22, 2014 4:04pm
Quoting mkvy
{quote} no, im looking for 10 pips with a 100+ pip stop, very low lots...
I know :-)

I feel comfortably with 50-100pips targets.
I know people keeping positions opened for months.
I don't have such patience ...
Read Charts - Not Papers
  • #945,816
  • Dec 22, 2014 4:36pm Dec 22, 2014 4:36pm
Quoting Rizmeister
Monkeys? I been saying this for a while...you're the person still trading long on a pair THAT WILL DROP and next MONTH MUCH MORE. Your risk versus reward is great buddy....oh because its sitting on monthly support? You don't think it won't fall and burn? LOL EDIT: choose your best trade in your career of trading and I could choose mine.....oh and if its not atleast 10 lots...don't bother. Take your peanuts and go to the circus you clown. EDIT 2: why do I waste time on people like you....still ask myself that on a daily basis..
The point you have touched is a very serious discussion......................... Hanging on to a Losing Trade. Nobody wants to see a trade painfully depleting their accounts. The fear is that pa may reverse any time. You may call this a hope, but in fact it is fear of closing the trade at the wrong time after absorbing huge draw-down.

Many may not agree with me (now) but this market can do any thing at any time, and when it does its things, all fundamentals and technicals seem wrong and useless. Randomness is so random that many times it creates patterns that appear very logical.

In my opinion, there are only two ways to trade this market. 1) Quick profit or loss based on whatever shit you believe in , and 2) Swing Trading based on fundamentals. Non of these provide luxury of sticking to a losing position. Adopting one of these two ways of trading could be the solution of this hanging stress.

We are all friends, we have different opinions and think differently. Our thoughts may change over time or in no time. That doesn't mean a nice guy should not remain gentleman in MOST situations.
The Thief of Wall Street
  • #945,817
  • Dec 22, 2014 4:56pm Dec 22, 2014 4:56pm
Hi, I post some forex forecast from BBG and a backtesting for EUR/USD.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: FX FORECAST.PNG Size: 98 KB
Click to Enlarge Name: FY 2.PNG Size: 82 KB
Click to Enlarge Name: SIMULATION STRATEGIES EU.PNG Size: 164 KB
Bavarian Trading FX
  • #945,818
  • Dec 22, 2014 5:15pm Dec 22, 2014 5:15pm
Quoting Rizmeister
Monkeys? I been saying this for a while...you're the person still trading long on a pair THAT WILL DROP and next MONTH MUCH MORE. Your risk versus reward is great buddy....oh because its sitting on monthly support? You don't think it won't fall and burn? LOL EDIT: choose your best trade in your career of trading and I could choose mine.....oh and if its not atleast 10 lots...don't bother. Take your peanuts and go to the circus you clown. EDIT 2: why do I waste time on people like you....still ask myself that on a daily basis..
Euro dropped 350 pips without any solid retrace, even a long term trader would need to be a complete moron to sell here, instead of waiting for EU to be 100-200 pips higher for a better short with a smaller drawdown. Go ahead, sell here...I will sell 200 or more pips higher.
Everyone can see the chart, but only a few can actually read it.
  • #945,819
  • Dec 22, 2014 5:28pm Dec 22, 2014 5:28pm
Quoting Chicky
{quote} The point you have touched is a very serious discussion......................... Hanging on to a Losing Trade. Nobody wants to see a trade painfully depleting their accounts. The fear is that pa may reverse any time. You may call this a hope, but in fact it is fear of closing the trade at the wrong time after absorbing huge draw-down. Many may not agree with me (now) but this market can do any thing at any time, and when it does its things, all fundamentals and technicals seem wrong and useless. Randomness is so random that many times it...
nice one sir, many time talk shit jokingly but now and then a gem watching for au nu eu bulls to make a stand and geppy to tumble and burn
If you are new to Forex? Say Goodbye to your account!!
  • #945,820
  • Dec 22, 2014 5:39pm Dec 22, 2014 5:39pm
boj holiday so have risk 7 pip defending this weeks open, todays open around here will be great (20minutes) very much counter trend trade not for faint hearted looking for similar on kiwi and/or aussie
Attached Image (click to enlarge)
Click to Enlarge Name: eu 1hr 23 12 14.png Size: 66 KB
If you are new to Forex? Say Goodbye to your account!!
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