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  • #994,821
  • May 29, 2015 10:59am May 29, 2015 10:59am
Everyone wants to sell EUR at a higher price, so some investors have been creating a trap. When they stop creating a trap, EUR will fall dramatically. Something like this happened in the movement of AUD.
  • #994,822
  • May 29, 2015 10:59am May 29, 2015 10:59am
Quoting Ken A
{quote} why
because in demo trading you are more likely to follow your system because you are not losing money in reality.. real money trading your emotions are more likely to take you out of your strategy when you have a series of failures

walking a tightrope 1 foot in the air is not the same as a tightrope 1000 feet in the air
  • #994,823
  • May 29, 2015 11:00am May 29, 2015 11:00am
Quoting Ken A
{quote} If I give you USD 5,000,000 real money can you make it to 200,000,000 Then from 200,000,000 to 8,000,000,000,000
honestly KEN, its not realistic at least for me.

Moreover I am not asking for your money, I was just sharing my trades of today on an ECN account.

upto you how you perceive it.
Whenever i buy the price goes up & whenever i sell the the price goes down!
  • #994,824
  • May 29, 2015 11:01am May 29, 2015 11:01am
Quoting mkvy
{quote} because in demo trading you are more likely to follow your system because you are not losing money in reality.. real money trading your emotions are more likely to take you out of your strategy
You nailed it. On my demo, the average gains are over 80 pips, on my real its 15 pips.. emotions rule our analytic thinking.
  • #994,825
  • Edited 11:13am May 29, 2015 11:02am | Edited 11:13am
0.618 Fibo retracement from May15 high to May 20 low + BB (20,2) on H4 + 00 level (1200) started the leg down between May 22 to May 27.
The current bullish move upwards does not show much strength as evident from the rickety ass H4 candles.
However, its inability to move downwards suggests, after today's number, it still needs to reach a particular level. What could that be?
My most likely short level would be:
The confluence of 50% fibo for May 22 high to May 27 low + both H1 200 ema and sma + BB(20,3) on H1 as well as outside of BB(20,2) on H4 at 1017
or a little beyond at 1050 where BB(20,3) on H4, 20 SMA (BB, 20,2, mid) on weekly and 200 EMA and SMA on H4 are pretty close.
The price will go where it has to go.
  • #994,826
  • May 29, 2015 11:03am May 29, 2015 11:03am
Quoting mkvy
{quote} because in demo trading you are more likely to follow your system because you are not losing money in reality.. real money trading your emotions are more likely to take you out of your strategy

I agree completely with you. cause in a real world with real money, there is too many emotions involved and that takes over your brain.

Hence unable to function on a neutral level and you will exit a trade sooner than required in fear of loosing those gains and enter a trade in the hope of being right and a common belief amidst traders that "I must be right"

Well i guess trading boils down all to your psychological beliefs and limits you set upon yourself.

anyway my 2 cents on 13 months of starring 12 hours into a screen of candlesticks.
Whenever i buy the price goes up & whenever i sell the the price goes down!
  • #994,827
  • May 29, 2015 11:05am May 29, 2015 11:05am
Quoting Sid1
{quote} You nailed it. On my demo, the average gains are over 80 pips, on my real its 15 pips.. emotions rule our analytic thinking.
fair enough, i agree with you. however on an ECN your spread is almost equivalent to 0

I have been using variable exness spread on my real accounts and somehow they always seem to turn against me.

my todays findings are that an ECN account is more profitable due to the lower spread, although there would be a 10/20 USD commission per lot.

But its easier to trade on a fixed spread with ECN as compared to a variable spread.
Whenever i buy the price goes up & whenever i sell the the price goes down!
  • #994,828
  • May 29, 2015 11:08am May 29, 2015 11:08am
Quoting Pharm0r
{quote} Should get another short entry tomorrow on a spike

Attached Image (click to enlarge)
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  • #994,829
  • May 29, 2015 11:13am May 29, 2015 11:13am
I have looked at the last 3 years GDP and realize that the JUNE GDP was the worse GDP in each year . then we did saw a nice move up in GDP on the next month of june . I think we can go lower maybe around 1.06-1.05* maybe for a while and with a bad news of US we can go higher than 1.15 for June & mid July . probably the FED rate hike news for the month of july will take this down after we rise about 1.18 who knows , I do hold short for 1.07xx and then gonna long If I see an opporninty .
  • #994,830
  • May 29, 2015 11:13am May 29, 2015 11:13am
I really don't get why people are so bullish, (unless you're just looking for some scalps here and there). Bigger picture view....since May 15, we've sold off over 600 pips. Currently, we've retraced about 180 pips....that's nothing. Corrections are expected and are needed, nothing goes straight up or straight down. This is nothing more than a big bear flag, and I will treat it as such until it proves otherwise. Zoom out on a 4 hour chart and look how clean the down moves are versus the choppy corrections, (flags)....the one we're currently in is nearly identical to the last correction we had, (that one retraced about 150 pips). No need for bears to worry yet

Edit....it's also forming a rising wedge which is another bear pattern
Don't trade the noise
  • #994,831
  • May 29, 2015 11:14am May 29, 2015 11:14am
Quoting mkvy
{quote} because in demo trading you are more likely to follow your system because you are not losing money in reality.. real money trading your emotions are more likely to take you out of your strategy when you have a series of failures walking a tightrope 1 foot in the air is not the same as a tightrope 1000 feet in the air
You can do demo for real money (contests).
  • #994,832
  • May 29, 2015 11:15am May 29, 2015 11:15am
Quoting deylon
{quote} fair enough, i agree with you. however on an ECN your spread is almost equivalent to 0 I have been using variable exness spread on my real accounts and somehow they always seem to turn against me. my todays findings are that an ECN account is more profitable due to the lower spread, although there would be a 10/20 USD commission per lot. But its easier to trade on a fixed spread with ECN as compared to a variable spread.
The spread is 1-2 pips, doesn't make a huge difference - I guess the commission gets higher with the number of lots.
  • #994,833
  • May 29, 2015 11:15am May 29, 2015 11:15am
US Employment statistics will be published next Friday, and the IMF payment of Greece is due next Friday as well, so I think some investors will stop creating a trap next week. It will trigger EUR to fall sharpy.
  • #994,834
  • May 29, 2015 11:15am May 29, 2015 11:15am
Quoting Ken A
{quote} {image} {quote} ECN is variable spread
Variable from 0.4 to 0.8 for me, on this particular account. so the variation is much lesser as compared to a variable on a std account.

In my last post i mentioned ECN Fixed Spread

***correction***

its a variable in the ECN as well.

well these are my findings ken, I am still learning, you may have vast experience considering your 3 years active account in FF. So if you feel something isnt right, please share.

Perhaps I will keep trying this until I succeed Cheers
Whenever i buy the price goes up & whenever i sell the the price goes down!
  • #994,835
  • May 29, 2015 11:16am May 29, 2015 11:16am
Quoting Ken A
{quote} If I give you USD 5,000,000 real money can you make it to 200,000,000 Then from 200,000,000 to 8,000,000,000,000
I know it was meant for someone else, but hell yeah, I accept your USD 5,000,000 real money. But only unmarked, small denomination bills. Meet me at the local cemetery around midnight and walk quietly towards the black, unmarked van with blinkers on.

PS: Wear rubber shoes, its raining tonight.
  • #994,836
  • May 29, 2015 11:17am May 29, 2015 11:17am
Quoting johnsmart
US Employment statistics will be published next Friday, and the IMF payment of Greece is due next Friday as well, so I think some investors will stop creating a trap next week. It will trigger EUR to fall sharpy.
Unless a deal is reached by Sunday. IMF installment is going to get paid anyway, confirmed today.
  • #994,837
  • May 29, 2015 11:18am May 29, 2015 11:18am
Quoting Sid1
{quote} The spread is 1-2 pips, doesn't make a huge difference - I guess the commission gets higher with the number of lots.
Variable from 0.4 to 0.8 for me, on this particular account. so the variation is much lesser as compared to a variable on a std account.

In my last post i mentioned ECN Fixed Spread

***correction***

its a variable in the ECN as well.
Whenever i buy the price goes up & whenever i sell the the price goes down!
  • #994,838
  • May 29, 2015 11:18am May 29, 2015 11:18am
Quoting shiva
{quote} I know it was meant for someone else, but hell yeah, I accept your USD 5,000,000 real money. But only unmarked, small denomination bills. Meet me at the local cemetery around midnight and walk quietly towards the black, unmarked van with blinkers on. PS: Wear rubber shoes, its raining tonight.
lol
Whenever i buy the price goes up & whenever i sell the the price goes down!
  • #994,839
  • May 29, 2015 11:19am May 29, 2015 11:19am
Quoting deylon
{quote} Variable from 0.4 to 0.8 for me, on this particular account. so the variation is much lesser as compared to a variable on a std account. In my last post i mentioned ECN Fixed Spread ***correction*** its a variable in the ECN as well. well these are my findings ken, I am still learning, you may have vast experience considering your 3 years active account in FF. So if you feel something isnt right, please share. Perhaps I will keep trying this until I succeed Cheers
If you want ECN, if your scalping go with ICM broker. EURUSD spread 0.2 pip generally, often also filled on negative spread. So far i havent noticed broker that gives better spreads. Commission 0.5 pip.
  • #994,840
  • May 29, 2015 11:19am May 29, 2015 11:19am
Quoting shiva
{quote} I know it was meant for someone else, but hell yeah, I accept your USD 5,000,000 real money. But only unmarked, small denomination bills. Meet me at the local cemetery around midnight and walk quietly towards the black, unmarked van with blinkers on. PS: Wear rubber shoes, its raining tonight.
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