EURUSD

1174 should be 1074

I was wondering what hit Dax while I was off . Nice post man.

Though looking at this disparity, I would expect Europe to be cheering some more on Oil drop, yet that Dax suffered heavy.
edit: I have understood it a bit different, and was talking bout disparity between import/export of Oil in Europe and US. As that is the second thing boosting Europe, they import higher percentage.

I see 1009 as a turning point also. This is were my take profits are for my shorts as of right now

The EUR/USD declined to day slowly but the support level at 1.1070 was strong enough to keep the pair about that level today.

A icce extension from here shows 1025 which is the top of my next mf level .

Just saying

Bummer. I wish I could trawl for shrimp, hell; I wish I could do any salt water fishing. Unfortunately, the coast it about 400 miles from me. I do a bunch of bass fishing on the lakes here in Texas though.

Bulls may found a little support around 1030(would be cheaper to try longs)

I am overall GU long and AU short... wish me luck for aud minutes

H e can not deal with any one now.

though i prefer not to do any trade now , i feel euro can once again move in between 1055 to 1093 range before any real break out.

Hi, everyone. I am a complete noob. Started to trade in January, then had a number of long-term business trips, and kinda stopped trading. Now, I have decided to start trading again.

Happy Trader's Day to every trader around the world. I wish that you find zen, get goot ROI and mainly have fun. I think that having fun is an extremely important factor in making a successful trader. I have stopped tarding in January, because I decided not to start up with the real account, but went demo instead. After a couple of weeks, it just kinda got boring and I had some other more important stuff to do, always something else to do...

How to make trading un-boring? I work as a freelance translator from Engish into Russian and spend most of the working hours translating, so hovering over the graph and watching some webinars bring something new into my schedule. So, it might be a good idea to combine trading with something else.

Another point I wanted to make is the uber-importance of alerts. Not many coaches speak about them, but they are very important to me. I just drag the alerts for 2 pips above and 2 pip below the price level and then do some translation. As soon as it beeps, I would go and check it. I will be starting to use some soft to track the exact time that I spend on forex per day, month, year. I guess that alerts give a chance to cut down the watching time immensely (plus the graph seriously interferes with my translations, if I open it to the side of the translation soft).

My main pair for the next couple of months will be EURUSD.

My main strategy: just getting the hang of the market, very heavy scalping on m5, tracking trends across various tfs, resistance and support, levels of supply and demand, starting to use trading systems (plus, standard stuff -- MM, tp and sl ratios, major news announcements).

I will be starting with the 100 cent account (viewing this account as if it had 10,000 USD). I am planning to substitute the account with 1,000 USD in a couple of months, whenever I am starting to see consistenly good performance and ROI. Also (this might be a good idea for noobs), I will be increasing the deposit account by 500 USD on the first of every month, if I attain some KPI that I will determine. If I fail to reach the KPI, I will be taking out about 100 USD. So, if I am starting to succeed, I will add to the deposit and I will be able to gradually increase the lot size of a position, or I will go back to the cent account in about 10 months, at which point I will start the process again.

I am also planning to do lots of stuff in Forex Tester 2 (scalping, identifying levels, waves anylysis after some time, just working on discipline and learning that you can have lots and lots of bad deals and that's totally OK, because it's trading). If you are a noob, feel free to contact me here. I would be happy to do some contesting on the history, history testing some TS or basic m5 scalping and then seeing who's done better and trying to get to the root cause of why one of the traders was more successful.

As far as I understand, the most important thing in trading is having an adequately positive attitude and building up internal discipline, as there are basically no rules. So, for me, after a couple of months, it will be more about finding the right way to deal with psychological side rather than getting new and more complicated trading systems in play, i.e., I guess, that a trader should be happy to come to the work and just do what he does, rather than sweating over new and more complicated concoctions of strategies and always worrying and... well, just worrying. I don't want to spend hours and hours worrying over the graph. The system is either works or it does not... If it consistently does not work, then there's no point in worrying about it. At the same time, I guess that worrying comes from the lack of strategic planning and generally "successful trader mentality" (i.e. no BS, emotions, fears, regrets, believing that you are stupid, etc.) and it's generally because of the lack of those that traders worry too much and 9 out of 10 traders go out immediately after they start. I have recently come across a series of articles by a dude from a forex company. He was pale as a ghost with the face like he was, I don't know, taken hostage by terrrorists and kept in the basement for a couple of years. The style that he applies in hs his articles actually shows that he's like always worrying, thinking it over, worrying more - is it right, is it wrong, mayby I need to analyse more. Taking into account, that the famous "In the Zone" states that most of the uber-top-notch anlysists terribly suck at trading (which was an eye-opener for me), perhaps, just not analysing too much and having fun in what you do might be the best idea to go.

Please do not view the "having fun" as a pretense for not going the basic stuff in trading and moving to more complicated straegies. I have just been talking to a number of guys in Russian forums, reading threads and there's just so much worrying and sweating the small stuff that it's just mind-boggling. I have come across dudes with like 500 messages on a forexfactory-esque forum saying that he has just bought the eur and could not get out, coz the margin call was very near. How in the universe could that happen?))) Also, I come across tons of people -- wavers -- who would come to the forum after 2 days and say that they wave picture was kinda wrong and had to redo the waves there??? How can you redo the waves after 2 days, if you have mapped them on the dailies, lol (there were no significant changes - just trend).

Also, I wanted to ask you guys from the States and time zones, how you can actually trade eur/use? Coz, you would have to basically get up at around 2am or 4 am and then trade till 4 pm (based this forums time). How do you do that? I am asking because I am thinking about trying to move for some time to Australia, but I think that working during the nights is definitely not my thing (or go to the bed at like 6pm for that matter).

I am waiting 1,1018 level for close shorts and enter longs.

I agree... no thing to do right now

Heh, check this out. You ever seen anything like that?... the low in a perfectly straight line for like 30 straight periods. (Have to enlarge it to really see what I mean.)

correct.
and with u.s. production at a higher % than the last 40 years. at times lower price in energy will weigh on the producers. u.s. will get the black eye verse euro at times like the cad or aud will. just to a less degree than a mostly commodity currency like the cad or aud.. that wont stop the china problems with german gdp. all triggers have some weight. some more important than others. a higher euro takes away germany's exports to china to a greater degree as eu rises. it causes german exports to china and u.s. to cost more. as their gdp is already lower the last 2 quarters even before china dropped the peg verse the usd 4%. its actually more than 4% verse the euro/yuan. its 4% plus the eu rise %. or about 6% higher than when eu was at .0468 low..

call me crazy, in a time when the china government is frowning on wealth glitter. you will see all those personal diamonds, gold, purses, bmw, glitter having a rough time. even rougher when the prices rise 6 %. it can't be a good thing for a exporter to china, selling glitter.
its all getting baked in with these low adr days

i see dead people because i am half crazy.

can you explain why 1009 is a turning point.
i already have that one for a bounce, but why do you?

lake conroe is not a bad bass hole.. i just go because its tradition for me to get a day or 2 in once a year.

your broker's price feed is just a bit "lazy"