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EURUSD

  • #1,106,981
  • Apr 28, 2017 5:02am Apr 28, 2017 5:02am
Quoting Spec_And
{quote} Scalping/day trading is a sure way to lose in the long run, I don't know anyone who got rich trading that way in the long run, no way to beat the HFTs and news bots day trading, they own that space. The dollar is definitely a sell on every spike, it peaked back in Jan, the DXY will not see a new high.
It's a job daytrading .It requires discipline and commitment .
I have been doing it since I was a kid
The problem is , once you have set up the rules and safety measures , there arent many safe trades left per week .Then comes the endless staring at charts and that leads to stupid mistakes .
Bots are not an obstacle to me , as I do not hold open positions over news releases -wherever it spikes , I do not care .
And for the record I know someone who made a fortune in the past only by trading EUR/CHF .Tight daily range , sell or buy the extremes , it was almost unreal .
I personally cannot trade ranges , I need trends !
  • #1,106,982
  • Apr 28, 2017 5:03am Apr 28, 2017 5:03am
Quoting fxmasterdxb
{quote} I believe my wording was quite clear, wasn't it? This is how i view the market, we shall see soon
It was the short scalping phrase which surprised me. 2 -3 pips short? That's a bit advanced, on a day like today, isn't it?
Gone to a better place
  • #1,106,983
  • Apr 28, 2017 5:06am Apr 28, 2017 5:06am
Quoting smikester
Whoever dumped the Eur/Usd shorts over the last weekend following the lack lustre numbers from the USA and DT's announcement about tax reform boosting the stock markets, left us with a dilemma: {image} A nice looking head and shoulders on the hourly, complete with a short squeeze this morning, I'll be looking for a fill of the liquidity gap if we break the channel at 1.0850. Anything above 1.09, the 61.8% retracement, will see longer term shorts destroyed and the Euro will probably go AWOL with crazy targets like 1.1. Good luck trading this. I'll...
You can see the price playing with the top trend line I drew, right now, and the bounce of the 1.0932, which was yesterday's high.
Gone to a better place
  • #1,106,984
  • Apr 28, 2017 5:06am Apr 28, 2017 5:06am
Quoting smikester
{quote} It was the short scalping phrase which surprised me. 2 -3 pips short? That's a bit advanced, on a day like today, isn't it?
Yes 2 - 5 pips, actually my trading system mainly depends on pending orders where I quickly grab 2 - 5 pips per trade, on an average i make 20 pips per day

Positions has to be picked carefully as the S/L is mostly 3 times more than the T/P.
  • #1,106,985
  • Apr 28, 2017 5:08am Apr 28, 2017 5:08am
Quoting fxmasterdxb
{quote} Yes 2 - 5 pips, actually my trading system mainly depends on pending orders where I quickly grab 2 - 5 pips per trade, on an average i make 20 pips per day Positions has to be picked carefully as the S/L is mostly 3 times more than the T/P.
Wow. 20 pips a day average is really good. Just saw a bacon sandwich fly past the window. Gone for a bit...
Gone to a better place
  • #1,106,986
  • Edited 5:23am Apr 28, 2017 5:11am | Edited 5:23am
Waiting this move for long time, I was in at 0888 added 0920 Lets kill more bears..
He who shorts the fifth wave of the fifth will soon find his balance in the abyss with the fish.
Estimated time to bear blowout... maybe some sub swing u can get an entry and cover maybe.
Like jumping in front of a freight train to pick up a penny lol.
Founder of Sutherland Wave Principle
  • #1,106,987
  • Apr 28, 2017 5:11am Apr 28, 2017 5:11am
Quoting Spec_And
{quote} What research? You doubt that most day traders lose money?
That might be corect , but doesnt prove anything .
I say that after one has developed the rules, tested the system and with proper discipline , it's almost impossible to lose money daytrading .
Sure there will be losing days and weeks , but at the end of the month at least breakeven is guaranteed .
Of course one needs some common sence , not trading in August , during bank holidays , major news release , last day of the month etc ...
See today for example : I saw a good chance for long Gold ( posted few hours ago ) , statistically .But didnt take it - safety first !
  • #1,106,988
  • Apr 28, 2017 5:14am Apr 28, 2017 5:14am
Quoting yanitsa
{quote} It's a job daytrading .It requires discipline and commitment . I have been doing it since I was a kid The problem is , once you have set up the rules and safety measures , there arent many safe trades left per week .Then comes the endless staring at charts and that leads to stupid mistakes . Bots are not an obstacle to me , as I do not hold open positions over news releases -wherever it spikes , I do not care . And for the record I know someone who made a fortune in the past only by trading EUR/CHF .Tight daily range , sell or...
News can come any time of the day, there is no way to avoid them. The main problem with day traders is that they tend to take on a lot of leverage (they have to if they want to make the few pips they make count for something), and a small move against them can frequently result in large losses. What looks like trend on a 1/5min chart (which is what scalpers look at) is really just noise on a daily chart, its meaningless HFT garbage.

I know many day traders who were wiped out daytrading EUR/CHF back in early 2015 when the snb dropped the floor on the EUR, that is a good example of how leverage can destroy you.
"Where you want to be is always in control, never wishing, always trading.
  • #1,106,989
  • Apr 28, 2017 5:14am Apr 28, 2017 5:14am
The best part of this move is that it has proven the fundamentals wrong
The fragrance remains in the hands of those that gves the rose
  • #1,106,990
  • Apr 28, 2017 5:16am Apr 28, 2017 5:16am
can this drop here?
trading is simple but is simple is not easy.
  • #1,106,991
  • Apr 28, 2017 5:18am Apr 28, 2017 5:18am
Quoting yanitsa
{quote} That might be corect , but doesnt prove anything . I say that after one has developed the rules, tested the system and with proper discipline , it's almost impossible to lose money daytrading . Sure there will be losing days and weeks , but at the end of the month at least breakeven is guaranteed . Of course one needs some common sence , not trading in August , during bank holidays , major news release , last day of the month etc ... See today for example : I saw a good chance for long Gold ( posted few hours ago ) , statistically .But didnt...
Not losing money is hardly any consolation. Time is money, if you only broke even at the end of the month then a minimum wage job is better than day trading.
"Where you want to be is always in control, never wishing, always trading.
  • #1,106,992
  • Apr 28, 2017 5:21am Apr 28, 2017 5:21am
Quoting Spec_And
{quote} Not losing money is hardly any consolation. Time is money, if you only broke even at the end of the month then a minimum wage job is better than day trading.
Steady now. Arguing wastes energy. Concentrate on your trading.
Gone to a better place
  • #1,106,993
  • Apr 28, 2017 5:22am Apr 28, 2017 5:22am
Quoting PayTheLimit
maybe some support in the USDCHF near 9890, might take a crack at it.... {image}
missed it by a few...calling it a week, to hell with em....
Look Sharp/Trade Tight
  • #1,106,994
  • Apr 28, 2017 5:25am Apr 28, 2017 5:25am
Quoting PayTheLimit
{quote} missed it by a few...calling it a week, they hell with em....
I keep having a go at that.
Gone to a better place
  • #1,106,995
  • Apr 28, 2017 5:25am Apr 28, 2017 5:25am
Quoting okosodo
The best part of this move is that it has proven the fundamentals wrong
Fundamentals are correct. The EUR has been beaten down mostly due to "existential risks" (EU disintegration), the odds of that happening in the next 5 years are close to zero now since the French elections. Both Europe and Japan have perpetually large trade surpluses, while the US has both a large trade deficit and a huge fiscal deficit thats about to explode in the next few years. The dollar is overvalued, it has only remained that way due to the large yield gap.
"Where you want to be is always in control, never wishing, always trading.
  • #1,106,996
  • Apr 28, 2017 5:29am Apr 28, 2017 5:29am
@Connors. You short too , what are your targets for today ?
  • #1,106,997
  • Apr 28, 2017 5:30am Apr 28, 2017 5:30am
Quoting Spec_And
{quote} What research? You doubt that most day traders lose money?
nope that statement is correct... you originally said that day trading and scalping is a way to lose money... not if you know how to do it
  • #1,106,998
  • Apr 28, 2017 5:32am Apr 28, 2017 5:32am
Quoting mahooo
TP 1.1700?
maybe

here i made projection for usd long-term path in case current support broken..

USD monthly
Attached Image (click to enlarge)
Click to Enlarge Name: `9.png Size: 22 KB

Quoting andexQ
{quote} USD right at monthly resistance.. USDx - monthly {image}
  • #1,106,999
  • Apr 28, 2017 5:33am Apr 28, 2017 5:33am
Quoting Spec_And
{quote} News can come any time of the day, there is no way to avoid them. The main problem with day traders is that they tend to take on a lot of leverage (they have to if they want to make the few pips they make count for something), and a small move against them can frequently result in large losses. What looks like trend on a 1/5min chart (which is what scalpers look at) is really just noise on a daily chart, its meaningless HFT garbage. I know many day traders who were wiped out daytrading EUR/CHF back in early 2015 when the snb dropped the...
I know what You mean .
But I am talking about discipline, money management and rules in general .
That Swissy move was rather an exception , but my friend who lost about 80 k that thursday , is a long term investor .So........
Myself , the daytrader would have never touched swissy ahead of SNB libor rate announcement !
  • #1,107,000
  • Apr 28, 2017 5:37am Apr 28, 2017 5:37am
Quoting Connors
{quote} {quote} {quote} {quote} Yes, will be watching how it will react @1.0883 if it gets there before NY opens. Targeting minimum 1.0820s for today. Whatever it does, will not have any open positions for the weekend tough.
0820s? you guys serious?? its about to break 0950 here!!
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