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  • #1,103,021
  • Apr 10, 2017 4:40am Apr 10, 2017 4:40am
Quoting Ata-Turkoglu
Weekly Chart Update Price arrived at weekly support zone.. I am expecting a retest at fib 50% but overall we might observe a boring week. Primary queston is: Will fib 61.8%: 1.0560 level hold or not? In other words: Will price bounce up from here to complete a potential AB = CD, or will the shark pattern stay in play and push price lower? Stay Green {image}
Hi Ata, Seems like my Voodoo and your Tech might just be in alignment huh.. could it be?
  • #1,103,022
  • Apr 10, 2017 4:42am Apr 10, 2017 4:42am
Quoting TudorIoan
{quote} Better watch a movie, fetch your popcorn, clean up your crystal ball, have a snack,... ...because it's a lazy London sess. ...beautiful (H1) Doji the last hour, ....maybe another one to come
im actually thinking of getting a PlayStation and forget my thinking it's for kids... I think with Mondays, we always kind expect these boring moves
  • #1,103,023
  • Apr 10, 2017 4:44am Apr 10, 2017 4:44am
Quoting jusstin911
{quote} Hi Ata, Seems like my Voodoo and your Tech might just be in alignment huh.. could it be?
Lol.. voodoo or tech.. as a result we both might be right or wrong for this case.. time will show..

Stay Green
Focus only on what truly matters!
  • #1,103,024
  • Apr 10, 2017 4:46am Apr 10, 2017 4:46am
Quoting Ata-Turkoglu
{quote} Lol.. voodoo or tech.. as a result we both might be right or wrong for this case.. time will show.. Stay Green
Now, that's a fact.. I agree time will tell
  • #1,103,025
  • Apr 10, 2017 4:47am Apr 10, 2017 4:47am
Quoting Ata-Turkoglu
{quote} Lol.. voodoo or tech.. as a result we both might be right or wrong for this case.. time will show.. Stay Green
Hi, Ata. If 1.0560 will be broken, what you're gonna do?. Where will you start buying? ...1.0237?
Member
  • #1,103,026
  • Apr 10, 2017 4:50am Apr 10, 2017 4:50am
Quoting PayTheLimit
I hate to say it, but I kinda miss that kid with the 300 lots from last week....
I think he will soon enough be millionaire from forex trading.

It is a easy way to do that if you have enough money. Just start with a billion and trade 300 lots.
Trading in the shadow of SM
  • #1,103,027
  • Apr 10, 2017 4:53am Apr 10, 2017 4:53am
Quoting TudorIoan
{quote} Hi, Ata. If 1.0560 will be broken, what you're gonna do?. Where will you start buying? ...1.0237?
Speaking with current conditions in mind!!!

I will not buy before I see hourly candle close above 1.06

If hourly candle closes above that level I would wait for a retrace that tests 1.0570/80 area and jump in long.

Once I am long I would not target more than 50 pips since weekly is still strongly bearish.

Stay Green
Focus only on what truly matters!
  • #1,103,028
  • Apr 10, 2017 5:04am Apr 10, 2017 5:04am
Quoting Ata-Turkoglu
{quote} Speaking with current conditions in mind!!! I will not buy before I see hourly candle close above 1.06 If hourly candle closes above that level I would wait for a retrace that tests 1.0570/80 area and jump in long. Once I am long I would not target more than 50 pips since weekly is still strongly bearish. Stay Green
1.0578 H1 Close. GL!
Stay Green
Member
  • #1,103,029
  • Edited 5:21am Apr 10, 2017 5:09am | Edited 5:21am
Quoting Earleone
{quote} I think he will soon enough be millionaire from forex trading. It is a easy way to do that if you have enough money. Just start with a billion and trade 300 lots.
1 lot requires 100.000 USD in your account if you use no leverage (and assuming you trade only XXX/USD pairs).

With 100.000 USD still in your account you can trade 300 lots if your broker allows 1:300 leverage. Many brokers in europe allow it (for example FxPro allows 1:500 leverage) so.. that means 100.000 USD is actually enough for trading various lot sizes.

In the case of trading with 300 lots and 100.000 USD in your account what is more important is your Stop Loss. If your stop loss is set let's say to 20 pips then, if you lose, your equity will drop 3000 usd for each pip. 20 x 3000 = 60.000 USD. That is 40% risk. A wise person would never trade with 40% risk. To lower it to let's say 5% risk you would have to have 8 times higher equity in your account: 800k. That way you can trade 300 lots with 5% risk in case you have 20 pips stop loss.

Long story short: You don't need a billion as you stated. And trust me, in UAE, Saudi Arabia or Qatar for example 800k is pocket money for majority of rich locals.

Stay Green
Focus only on what truly matters!
  • #1,103,030
  • Apr 10, 2017 5:11am Apr 10, 2017 5:11am
Quoting Don96
{quote} Then what is the fair price ? And why is it overvalued? Also they pay 1.5% I think it's more to do with copper than anything...
Overvalued since there are uncertainties both in economy and jobs, AUD price was well covered by the recent upside rallies of the Iron Ore.
+ inflation is at its lowest so no interest raising perspective.
After all it's always about probabilities, can't tell what will happen next but can give you a sentiment.
"Letting losses run is the most serious mistake made by most investors."W.O
  • #1,103,031
  • Edited 5:24am Apr 10, 2017 5:12am | Edited 5:24am
Quoting PayTheLimit
{quote} hey man, anything in NZ, might try some shorts near 6975ish...
looking to long 6912/6902

Quoting Don96
{quote} expecting 0.7466? fuck that i wish i didnt ask you , i want no more drop and back into 0.7550 i mean i have 0.7477/7460 offering better RR and in my plan, but i dont want them, i want now
there is 0.7477, it may be enough for a retrace at least into 0.7555
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  • #1,103,032
  • Apr 10, 2017 5:24am Apr 10, 2017 5:24am
Quoting Ata-Turkoglu
{quote} 1 lot requires 100.000 USD in your account if you use no leverage. With 100.000 USD still in your account you can trade 300 lots if your broker allows 1:300 leverage. Many brokers in europe allow it (for example FxPro allows 1:500 leverage) so.. that means 100.000 USD is actually enough for trading various lot sizes. In the case of trading with 300 lots and 100.000 USD in your account what is more important is your Stop Loss. If your stop loss is set let's say to 20 pips then, if you lose, your equity will drop 3000 usd for each pip. 20...
By matematics you are correct. And I am sure some people manage to do and burn some money that way. Mostly ( serious ) brokers dont give more then 1:50 in leverage on bigger accounts what I have seen. However have not been looking deep in to that since it is not a problem for me currently .
Trading in the shadow of SM
  • #1,103,033
  • Apr 10, 2017 5:29am Apr 10, 2017 5:29am
Quoting Earleone
{quote} By matematics you are correct. And I am sure some people manage to do and burn some money that way. Mostly ( serious ) brokers dont give more then 1:50 in leverage on bigger accounts what I have seen. However have not been looking deep in to that since it is not a problem for me currently .
Mathematics is core of life dude and especially of markets.

1:50 leverage? Okay let's do the math: 300 lots and 5% risk and let's say 50 pips stop loss for each trade.

50 pips x 3000 USD = 150.000 USD --> that's the loss you are willing to risk. 150.000 is 5% of what amount? 3 million USD

Coming back to your statement: still far far far away from a billion and still pocket money for many rich snobs.

Stay Green
Focus only on what truly matters!
  • #1,103,034
  • Apr 10, 2017 5:33am Apr 10, 2017 5:33am
Quoting Ata-Turkoglu
{quote} Mathematics is core of life dude and especially of markets. 1:50 leverage? Okay let's do the math: 300 lots and 5% risk and let's say 50 pips stop loss for each trade. 50 pips x 3000 USD = 150.000 USD --> that's the loss you are willing to risk. 150.000 is 5% of what amount? 3 million USD Coming back to your statement: still far far far away from a billion and still pocket money for many rich snobs. Stay Green
Still agree to your matematics. But if you compound the losses it will soon enough be enough losses to make a billionaire in to a millionaire . And the rich snob will after a while feel that. Compounding work both ways.
Trading in the shadow of SM
  • #1,103,035
  • Apr 10, 2017 5:39am Apr 10, 2017 5:39am
Quoting Earleone
{quote} Still agree to your matematics. But if you compound the losses it will soon enough be enough losses to make a billionaire in to a millionaire . And the rich snob will after a while feel that. Compounding work both ways.
Look man, I can't understand your pessimism. Not every trader is a loser. There are many rich traders inside the 1% winning mass. That's one major reason why they are rich dude. Wake up.. the place called "Wall Street" is not a fantasy location.. it is full with snobs of all sorts.. lol

Stay Green
Focus only on what truly matters!
  • #1,103,036
  • Apr 10, 2017 5:44am Apr 10, 2017 5:44am
Quoting Ata-Turkoglu
{quote} Look man, I can't understand your pessimism. Not every trader is a loser. There are many rich traders inside the 1% winning mass. That's one major reason why they are rich dude. Wake up.. the place called "Wall Street" is not a fantasy location.. it is full with snobs of all sorts.. lol Stay Green
I am not pessimist. But I am pessimist to scalping and be long term profitable . And yes I agree there is many rich traders inside the 1% even the 5% winning mass. But not many, if any of them trade with scalping an a 20 pips SL.
Trading in the shadow of SM
  • #1,103,037
  • Apr 10, 2017 5:45am Apr 10, 2017 5:45am
Pretty sure the guy you two are talking about was a loser. Actually a loser and a pretender. He never did produce the "charts that would blow our mind"
  • #1,103,038
  • Apr 10, 2017 5:48am Apr 10, 2017 5:48am
Quoting Earleone
{quote} I am not pessimist. But I am pessimist to scalping and be long term profitable . And yes I agree there is many rich traders inside the 1% even the 5% winning mass. But not many, if any of them trade with scalping an a 20 pips SL.
Ok I give up dude.. can't win over your fixed mentality. Seems like you are living in a totally different world than mine. Wish you good luck..

Stay Green
Focus only on what truly matters!
  • #1,103,039
  • Apr 10, 2017 5:52am Apr 10, 2017 5:52am
Quoting Don96
{quote} Wow again AU wtf, even NU is going up and AU is dropping still.. grow some balls
Did you see the weekly?
  • #1,103,040
  • Apr 10, 2017 5:54am Apr 10, 2017 5:54am
Quoting Tradingwithw
{quote} Did you see the weekly?
Don't really trade weekly, too much can happen in 2 weeks for candles to be valid, same with monthly
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