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  • #996,521
  • Edited 3:10pm Jun 2, 2015 2:55pm | Edited 3:10pm
Now I usually don't jump in the flaming around here. And I try to respect everyone. Even Fxtyrant, but that Zulu account of his proves though he doesn't have a 100% win history. At least in that account. At times he does have some pretty insightful things to say, but he is extremely crass an demeaning. Not what you really should look for in a mentor. And lastly I saw his age being thrown around. I must stand up and say never discriminate skills by age. I'm only 20 Yeats old. Read my first book on economics and investing at 13. Have been doing it since then. In the last 4 months have seriously got into forex. Am I a pro yet, hardly at all. But I have so many people poke fun at my age and my choice of job because a 20 year old can't trade, a younger person doesn't understand economics. Who knows that kid in McDonald's you see tomorrow who's trying to do something with his life may just need some encouraging words.

Disclaimer-- This was not a whoooo is me post, or trying to say I feel bad on a daiey basis, honestly I don't care I'm pretty confident in myself but others are not. THIS WAS A PUBLIC SERVICE ANNOUNCMENT!
  • #996,522
  • Jun 2, 2015 2:59pm Jun 2, 2015 2:59pm
Quoting mkvy
targeting 1.0600
selling at 1.1147 nice bearish engulfing candle on 1 hour chart.. doji, pin bar and resistance above at 1.1200
  • #996,523
  • Jun 2, 2015 3:00pm Jun 2, 2015 3:00pm
Quoting mkvy
{quote} selling at 1.1147 nice bearish engulfing candle on 1 hour chart.. doji, pin bar and resistance above at 1.1200
also shorting, 1st tp 1.1120, 2nd tp 1.1080, fibonaci
  • #996,524
  • Jun 2, 2015 3:01pm Jun 2, 2015 3:01pm
Learning from Demo, if you have strong balls, you will win most of the trades as long as you aren't against the long term trend.

Am severely down on the real account but am sure this will turn around.

Reason for the surety:
1) USD fundamentals stronger than messy EU - GDP/Unemployment/PMI/Sales all are showing or will be better in Q2/Q3
2) Falling oil prices helps dollar - oil will meander around the current levels for some more time
3) Interest rates will rise eventually ( Sep or Dec doesn't really matter)
4) Global weakness ( its still there and USD is still a safe haven)
5) Finally, Tyrant said so
  • #996,525
  • Jun 2, 2015 3:02pm Jun 2, 2015 3:02pm
Quoting gatorinla
{quote} dont take these reports serious. sure, they exit a small trade and leak it. and have a larger trade in the making the other direction un-leaked. its not like they have a single trader trading the eu. they have many traders trading many different strategies on its own merit. they are long and short, they are hedging..
seriously I think the price is going to be floating between 1.1220 / 1.1050 until NFP.

I do not see another thrust up before that.

Now that Greek deal is priced in.
Intraday only.
  • #996,526
  • Jun 2, 2015 3:05pm Jun 2, 2015 3:05pm
I thought September was out for rate hike.
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Losers Hope, Winners Believe
  • #996,527
  • Jun 2, 2015 3:06pm Jun 2, 2015 3:06pm
Quoting Sid1
Learning from Demo, if you have strong balls, you will win most of the trades as long as you aren't against the long term trend. Am severely down on the real account but am sure this will turn around. Reason for the surety: 1) USD fundamentals stronger than messy EU - GDP/Unemployment/PMI/Sales all are showing or will be better in Q2/Q3 2) Falling oil prices helps dollar - oil will meander around the current levels for some more time 3) Interest rates will rise eventually ( Sep or Dec doesn't really matter) 4) Global weakness ( its still there and...
In the long run we are all going to die, so does that mean you will stop living today? In any form of trading long run means little. In forex that word should only be used by Soros and the likes.
The price will go where it has to go.
  • #996,528
  • Jun 2, 2015 3:06pm Jun 2, 2015 3:06pm
Quoting gatorinla
{quote} dont take these reports serious. sure, they exit a small trade and leak it. and have a larger trade in the making the other direction un-leaked. its not like they have a single trader trading the eu. they have many traders trading many different strategies on its own merit. they are long and short, they are hedging..
Tha'ts true, but I guess these are inputs to warn retail traders who may get wiped out or margins called due to the turbulence.
  • #996,529
  • Jun 2, 2015 3:16pm Jun 2, 2015 3:16pm
Quoting navk
{quote} seriously I think the price is going to be floating between 1.1220 / 1.1050 until NFP. I do not see another thrust up before that. Now that Greek deal is priced in.
maybe. you and me have seen a pump nfp week many times just to end up reversing.

the odds are when near a place like 1208 with stall.. we go back to 1.100x
those who can, do. those who cant, talk about those who can
  • #996,530
  • Jun 2, 2015 3:21pm Jun 2, 2015 3:21pm
Quoting Sid1
{quote} Tha'ts true, but I guess these are inputs to warn retail traders who may get wiped out or margins called due to the turbulence.
dont trust anything. hell goldmen was saying "buy 147 oil its going to 200" as the floor dropped. and at the same time unloading the oil it owned to its Muppet clients.

latter quoted as saying, "we do gods work" was ceo
those who can, do. those who cant, talk about those who can
  • #996,531
  • Jun 2, 2015 3:25pm Jun 2, 2015 3:25pm
Quoting gatorinla
{quote} maybe. you and me have seen a pump nfp week many times just to end up reversing. the odds are when near a place like 1208 with stall.. we go back to 1.100x
Intraday only.
  • #996,532
  • Jun 2, 2015 3:27pm Jun 2, 2015 3:27pm
Quoting gatorinla
{quote} i use different size trades with = risk % wise. a successful trade close to the risk is a larger size trade with the same risk as the further one. just an example for easy math.. lets say i short 1205 with a 1%* risk and 1220 as a s/l,, on a failed trade i lose that 1%. (*x2). on a good trade i make 1% each 15 pips of drop. if i have one with = 1% risk at 1190. with the same 1220 stop, i lose the same 1% and gain 1% each 30 pip drop.. if both of these trades were good trades running. i would make 3% each 30 pip drop.. just an example..
Thanks for the explanation.
Another question: aren't these stops little too tight for such a distant TP target? (20-30 pips stops for a target over 400 pips away)
Or you have a strong conviction that 1220 is important level and if it fails, you will get a much better entry point later?
Thanks
  • #996,533
  • Jun 2, 2015 3:28pm Jun 2, 2015 3:28pm
Quoting OctaveJay509
{quote} Hey Mate, If you allow me to add something extra, I would say that ABCD pattern you had on that 4-Hour Chart is designed to complete An Emerging Bearish Cypher at around 1.14000--1.14200ish... I strongly believe this might happen (or complete) overnight before EUR News - Minimum Bid Rate. I expect it to be unchanged, but I have no idea.... Another thing, despite all the crazy short positions right now, if EUR decides to test 1.15000 or trade above it, we could easily see EUR reaches 1.18000-1.19000 comes next week... Market Sentiment is...
Thanks for your comments, I see 1.1325 as the last hope for bears .786 Ret H4 whole swing, ofc MM can turn this from wherever they want, we just talking in term of probabilities, recent PA makes me think 1.18 is possible, previous leg down was fast but this one is even faster. I would only take a pattern confluence H4 + D1, everything else I am not so interested.
For tomorrow, as long Draghi doesn't talk too much about details (acceleration of QE pace) maybe it will result in nice retracement only.
All the best.
We watch the charts from every angle so you don't have to!!
  • #996,534
  • Jun 2, 2015 3:29pm Jun 2, 2015 3:29pm
Quoting gatorinla
{quote} dont trust anything. hell goldmen was saying "buy 147 oil its going to 200" as the floor dropped. and at the same time unloading the oil it owned to its Muppet clients. latter quoted as saying, "we do gods work" was ceo
Goldman is extractor. Headhunter. Why would you want to rationalize any of their public calls? Their strategy is to flip. Their foot goes so deep into FED and goverment that one trusting anything from them must be slightly delusional or very uninformed.
  • #996,535
  • Jun 2, 2015 3:36pm Jun 2, 2015 3:36pm
The progress in the Greece case support the EUR/USD as the pair rebounded two times from the 1.1180 resistance level and at the moment it is close to 1.1147. I think we will see another try to broke above that tomorrow.
  • #996,536
  • Jun 2, 2015 3:37pm Jun 2, 2015 3:37pm
Quoting jaxx80
{quote} Thanks for the explanation. Another question: aren't these stops little too tight for such a distant TP target? (20-30 pips stops for a target over 400 pips away) Or you have a strong conviction that 1220 is important level and if it fails, you will get a much better entry point later? Thanks
1208/09 is one i watch,, last month we got above it. only to close under it. that dont mean it will hold.. it just has better chances being a larger # on a all time chart (15 years old). and its also a previous month close.. its not just another number
those who can, do. those who cant, talk about those who can
  • #996,537
  • Jun 2, 2015 3:37pm Jun 2, 2015 3:37pm
Pending BUY EU at 1.11150
A good trader follows his rules, but great trader knows when to break them
  • #996,538
  • Jun 2, 2015 3:39pm Jun 2, 2015 3:39pm
Quoting janpec1000
{quote} Goldman is extractor. Headhunter. Why would you want to rationalize any of their public calls? Their strategy is to flip. Their foot goes so deep into FED and goverment that one trusting anything from them must be slightly delusional or very uninformed.

This is so very true. Just a couple of days ago, back in the dreary ranging period, Morgan Stanley sent out its advice to investors to "sell at 1.10 with a stoploss at 1.12" (can't bother with the link but it was posted in this thread) Of course, this made me quite paranoid and I concluded they'll probably push the price up to 1.10 and then kick-start another push over the stoploss, grazing on the profits.. 1.12 got missed by a hair's width and momentum is still up.. And Barclays "advised" practically the same. This alone made me stay away from the pair, tho now I'm a bit sore I didn't trust my hunch.

There's much to be said for "contrarian" fundamental strategies. In short, whenever you get advice from the "big boys" do exactly the opposite. They are doing "God's work" after all and this IS a zero-sum game.
"Tips are for waiters." - Reminiscences of a stock operator
  • #996,539
  • Jun 2, 2015 3:40pm Jun 2, 2015 3:40pm
Looking forward for a solid close above 1.1207 to confirm my position and add more long
  • #996,540
  • Jun 2, 2015 3:44pm Jun 2, 2015 3:44pm
Quoting ill_be_back
Pending BUY EU at 1.11150
I will be with you too. 1.1100 should not give away for Wednesday.
Intraday only.
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