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  • #994,941
  • May 30, 2015 9:14am May 30, 2015 9:14am
A pet peeve is I wish traders and brokers would quite using the terms bulls and bears in a currency market. Most people thiink if price movement goes down then its a bear market. For the USD, the last year it's been a 'bull' market. Bulls n bears really should be used in the stock market where it better reflect price sentiment for a certain stock. Down means less value and up means more value. Unlike the currency market, up means value strengthened for one currency pair and less for the other.
I'm afraid this will be an uphill climb for me...
Taigen Profit This Month: na
  • #994,942
  • Edited 9:49am May 30, 2015 9:32am | Edited 9:49am
Quoting TraderRaven7
{quote} Thank you for your input I really appreciate it. Yes most of the things you said are true and I am trying to work on them. Regarding the consecutive losses, it is that I place trades with small lot size when I am not sure what the market is doing, testing the water so to speak, hence the losses. Any and all input is always appreciated. Thank you.
You may already do this but I always look at the trending in the charts along with double BB's set at 2 and 3 respectively and a few other such as PSAR and EMA as my main indicators. This is how I put in a postition:

When I short or long, I am now looking for the best entry point. I use the 5 and 15 minute chart. If the market is uncertain or when I want out, I use the 30m or 1hr to get out but usually I just ride it. The 4hr and daily seems best to reveal where the actual trading trend is whether up or down. When you hear the phrase 'the trend is your friend' then think of the 2hr 4hr and daily charts. The weekly and monthly charts may be considered long term trade but is more useful as the overall trend of the market.

Usually at consolidations, the market is taking a breather to recoupe or rebalance itself. Consider the price is nothing more than trying to balance itself in relation to other currencies.
Taigen Profit This Month: na
  • #994,943
  • May 30, 2015 10:23am May 30, 2015 10:23am
Greek Talks With Creditors Deepen as Payment Clock Ticks


Greek government spokesman Gabriel Sakellaridis said May 28 that a staff-level agreement with bureaucrats from the European Commission, the European Central Bank and International Monetary Fund can be reached by Sunday. The government has expressed similar optimism several times in the past two months only to be rebuffed by creditors asking for concrete actions in areas including pension and labor market reform, sales taxes and the budget.
http://www.bloomberg.com/news/articl...nt-clock-ticks
  • #994,944
  • May 30, 2015 10:24am May 30, 2015 10:24am
EU next week

EU H1
Attached Image
A good trader follows his rules, but great trader knows when to break them
  • #994,945
  • May 30, 2015 10:30am May 30, 2015 10:30am
Quoting ill_be_back
EU next week EU H1 {image}
hi dear sir
i agree with you but just little adjustment to numbers 1.1090 then 1.0717
thank you so much
have a nice day please
focus while relaxed to see better
  • #994,946
  • May 30, 2015 10:36am May 30, 2015 10:36am
Risk avesion sentiment was trigered last Friday, but I expect it will grow more prominently next week.

Yen Rises Amid Risk Aversion
Fri, 29th May 2015 09:51



BRUSSELS (Alliance News) - The Japanese yen strengthened against most major currencies in the early European session on Friday amid risk aversion, as European shares fell amid mixed signals over the status of Greece's debt talks and surprisingly unguarded remarks by IMF chief Christine Lagarde that a Greek exit would not signify an end to the single currency.

http://www.lse.co.uk/AllNews.asp?cod..._Risk_Aversion
  • #994,947
  • May 30, 2015 10:36am May 30, 2015 10:36am
I hope last week was a profitable week for everyone. Have a great weekend everyone .
  • #994,948
  • May 30, 2015 10:37am May 30, 2015 10:37am
AU HI
Attached Image
A good trader follows his rules, but great trader knows when to break them
  • #994,949
  • May 30, 2015 10:44am May 30, 2015 10:44am
Quoting verified
{quote} Hi Raven, I am very interested in this discussion because I think I act different and not very effective, in my point of view. I start with myself, normally I don't trust advices here because I feel most people are same lost than I am. So I'm gathering information as good as I can and when I can convince myself, I trade ( maybe ). Because I want to see what the price is doing, I scalp most of the time. I win a little bit but way off something rational or effective. So, what are your decision points when you test the water ? Best Verified....
Hello,
With my first account I used to scalp using RSI and Stochastic only. I had no knowledge about the support and resistance, trend and pullbacks.
The second time I traded using trend trading strategy. It was profitable for a time but it was not effective during pullbacks or range, and is always hard to catch a trend, and due to lack of knowledge and confidence I used to close trades. Once the trade was closed it was hard to place a new one that went in to profit right away.

This time I am both scalping and trading with the trend. One trade with big lot kept open long term with the trend and other small trades to scalp the ranges and pullbacks. I use RSI, Stochastic and MACD to test the market during range. Trend lines, Fibbonacci and news to trade the pullbacks.

Note: I do not place a trade against the trend during range, during pullbacks yes.

I have started trading for only past two weeks(again ex-alpari client), but so far the strategy seems to be working. Although I am a little partial towards scalping the range, because it is the profit in hand.

I know that there must be many things that I must be doing wrong, and any suggestion or criticism to help me improve is welcome.
Thank you.
  • #994,950
  • May 30, 2015 10:50am May 30, 2015 10:50am
Quoting orabi
{quote} hi dear sir i agree with you but just little adjustment to numbers 1.1090 then 1.0717 thank you so much have a nice day please
I think if it goes more then 5-7 above my level then it will not stop at 1.1090, Will go much higher
A good trader follows his rules, but great trader knows when to break them
  • #994,951
  • May 30, 2015 10:53am May 30, 2015 10:53am
Quoting Taigen
{quote} You may already do this but I always look at the trending in the charts along with double BB's set at 2 and 3 respectively and a few other such as PSAR and EMA as my main indicators. This is how I put in a postition: When I short or long, I am now looking for the best entry point. I use the 5 and 15 minute chart. If the market is uncertain or when I want out, I use the 30m or 1hr to get out but usually I just ride it. The 4hr and daily seems best to reveal where the actual trading trend is whether up or down. When you hear the phrase 'the...
I mainly use M1 and H4. M1 to place the long term trade and scalping, and H4 to keep an eye on the long term trade. For long term trade also I use M1 to place a trade and then back to H4 to monitor it. I do not rely too much on technicals as too many indicators make it confusing for me.
The thing that helped improve my trading the most is learning about entry and exit points. I mainly rely on S and R and fundamental news to determine it.

I have recently started following a thread called PVSRA, and it seems quite educational about trying to figure out how MMs are going to manipulate the market and trade accordingly. So far nothing has been explained in detail so not sure about implementing it. I wonder if it is just for MMs or and ECN account as well.
  • #994,952
  • May 30, 2015 11:01am May 30, 2015 11:01am
Week Ahead in FX: Greece’s Decision Day, Central Banks, NFP
Meanwhile, reports of a staff-level agreement between Greece and its creditors might have been greatly exaggerated. The Greek government continues to play a dangerous game of chicken hoping that the ECB, European Commission, and the International Monetary Fund will blink.
http://www.marketpulse.com/20150529/...ral-banks-nfp/



Greek Bank Run Continues; Greek Domestic Deposits Lowest In Decade
http://www.forbes.com/sites/timworst...est-in-decade/
  • #994,953
  • May 30, 2015 11:14am May 30, 2015 11:14am
Quoting johnsmart
Week Ahead in FX: Greeces Decision Day, Central Banks, NFP Meanwhile, reports of a staff-level agreement between Greece and its creditors might have been greatly exaggerated. The Greek government continues to play a dangerous game of chicken hoping that the ECB, European Commission, and the International Monetary Fund will blink. http://www.marketpulse.com/20150529/...ral-banks-nfp/ Greek Bank Run Continues; Greek Domestic Deposits Lowest In Decade http://www.forbes.com/sites/timworst...est-in-decade/...
John's Mart, Don't you get tired of spamming about Greece ?
  • #994,954
  • May 30, 2015 11:18am May 30, 2015 11:18am
Quoting cspip
{quote} John's Mart, Don't you get tired of spamming about Greece ?
Hush now, it's all interesting info. Saves me time browsing the interwebz.
"Tips are for waiters." - Reminiscences of a stock operator
  • #994,955
  • May 30, 2015 11:20am May 30, 2015 11:20am
Quoting Winthorpe
{quote} Hush now, it's all interesting info. Saves me time browsing the interwebz.
I notice he never posts when Greece finds more money or gets extra time or things are looking up. Always about the downfall for Greece. You want to read one sided rumors about Greece ? OK

And Johns Mart has been at it for nearly 2 days non-stop with 45 posts about Greece.......his choice I guess........
  • #994,956
  • May 30, 2015 11:42am May 30, 2015 11:42am
yepp, johnsmart must know. greece is just around the corner.
  • #994,957
  • May 30, 2015 12:02pm May 30, 2015 12:02pm
Tech Setups For EUR/USD, USD/JPY, GBP/USD, AUD/USD - Barclays
29 May 2015 12:31 EDT
EUR/USD: No change. We are bearish and would look to fade upticks against resistance in the 1.1055 area. A move below initial support at 1.0815 would signal lower towards our targets near 1.0660. Our greater targets are towards 1.0460.
http://www.efxnews.com/story/29149/t...t%3DFeedBurner





Intraday Outlooks For EUR/USD, USD/JPY, AUD/NZD, EUR/GBP - SEB
EUR/USD: Ideal correctional objective at 1.1000. The market still at large respects the low end of the "Cloud" but gains so far looks correctional only (to be confirmed under 10867). A fresh high over 1.0975 should run out of steam at a near-term "Equality point" and the falling 8day 'Tenkan-Sen" at 1.1000. Current intraday stretches are located at 1.0860 & 1.1025.
http://www.efxnews.com/story/29144/i...nzd-eurgbp-seb
  • #994,958
  • May 30, 2015 12:04pm May 30, 2015 12:04pm
Quoting ill_be_back
{quote} I think if it goes more then 5-7 above my level then it will not stop at 1.1090, Will go much higher
HI
i made my calculations again and i am sorry but i should be honest with you people
eurusd have bottomed out according to my numerical calculations and excel sheet you can find the sheet in my subject numerical analysis in trading discussion section
lets go back to eur ok

it had bottomed now at 1.08168 (according to altrade quotes ) and it is in up trend target will be 1.33648 as last target .

my trading plan for tomorrow is already done long up to 1.1040 short from there to 1.0920

then long from 1.0920 .

thank you all especially you sir

all have a nice day
focus while relaxed to see better
  • #994,959
  • May 30, 2015 12:26pm May 30, 2015 12:26pm
gap?
Attached Image (click to enlarge)
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  • #994,960
  • May 30, 2015 12:35pm May 30, 2015 12:35pm
Quoting robin2003
gap?{image}
Hi sir
from where did you get it hahaha do you want to manipulate my post with this unknown diagram

a lot of brokers likes us to lose

have a nice day
focus while relaxed to see better
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