Trend of the Day - Page 43

Gregory McLeod · #**631** (**permalink**) 07-08-2009, 07:15 AM

Quote:

Originally Posted by Romanic

GBP/USD going south all the way. I see no signs of U turn for the next few days. I just gave up on this one, will have to endure losses unless I get the right U turn moment. G luck!

I agree. GBP/USD blew through my stop and now the tone is bearish.

Gregory McLeod · #**632** (**permalink**) 07-08-2009, 07:19 AM

Quote:

Originally Posted by nomis

sir, some time there is no clear trend, how should i make my trade.
this week i loss just because my trade have no trend, what indicator can i used in this kind of situation?

Hello Nomis. Sometimes when there are no clear trends I do not trade. However, I watch the trades because trends will emerge eventually. Staying in cash and not trading is a position; no gains but no losses.

nomis · #**633** (**permalink**) 07-08-2009, 08:40 AM

Quote:

Originally Posted by Gregory McLeod

Hello Nomis. Sometimes when there are no clear trends I do not trade. However, I watch the trades because trends will emerge eventually. Staying in cash and not trading is a position; no gains but no losses.

Thank you Mr. Gregory McLeod

Gregory McLeod · #**634** (**permalink**) 07-08-2009, 08:43 AM

Quote:

Originally Posted by nomis

Thank you Mr. Gregory McLeod

You are welcome.

sivamarkandu · #**635** (**permalink**) 07-08-2009, 01:18 PM

Hi Greg,
I read your comments in this thread about trading the news. Along the same line, I would like to know about buying breakouts during the news release. Should I stay away from the breakouts during the release? Is there any stragey I could apply?

thanks a lot.

Siva

Xiao · #**636** (**permalink**) 07-08-2009, 01:22 PM

Quote:

Originally Posted by Gregory McLeod

You are welcome.

have you seen sir the main With Compare To JPY they all Are Down....mean Jpy Are Appreciate so ........

just Advise a Little

Gregory McLeod · #**637** (**permalink**) 07-08-2009, 01:25 PM

Quote:

Originally Posted by sivamarkandu

Hi Greg,
I read your comments in this thread about trading the news. Along the same line, I would like to know about buying breakouts during the news release. Should I stay away from the breakouts during the release? Is there any stragey I could apply?

thanks a lot.

Siva

Hello Siva. Waiting 10 to 20 minutes after the news has been released is one way of missing the sudden choppiness. Most professionals do not enter at news until they have read and digested the numbers. Usually, price moves in one direction during news and reverses some 10-20 minutes after the announcement.

sivamarkandu · #**638** (**permalink**) 07-08-2009, 01:47 PM

Quote:

Originally Posted by Gregory McLeod

Hello Siva. Waiting 10 to 20 minutes after the news has been released is one way of missing the sudden choppiness. Most professionals do not enter at news until they have read and digested the numbers. Usually, price moves in one direction during news and reverses some 10-20 minutes after the announcement.

thanks a lot Greg.

Siva

Gregory McLeod · #**639** (**permalink**) 07-08-2009, 02:11 PM

Quote:

Originally Posted by sivamarkandu

thanks a lot Greg.

Siva

You are welcome. Click this link to see an actual trade I did

KP FX Trader · #**640** (**permalink**) 07-08-2009, 03:48 PM

Hi Greg,

A while ago you mentioned Elders book, Trading for a Living, its fantastic! It put into words things I was learning and observing intuitively. Wow!
I have read a handful of books on trading. Hands down this is # 1. Is it possible there is anything any better out there? I would have to say it is a must for all traders, kind of a bible for traders

What is the best book you have ever read on trading? If its Elders, than who would you say is runner up?

Xiao · #**641** (**permalink**) 07-09-2009, 03:54 AM

Quote:

Originally Posted by Gregory McLeod

Hello Siva. Waiting 10 to 20 minutes after the news has been released is one way of missing the sudden choppiness. Most professionals do not enter at news until they have read and digested the numbers. Usually, price moves in one direction during news and reverses some 10-20 minutes after the announcement.

Sir Little confused what is Digested ,, and what thing You are Talking about sir...

thank you

Xiao · #**642** (**permalink**) 07-09-2009, 04:10 AM

Quote:

Originally Posted by Gregory McLeod

GBP/USD has been quiet buoyant today after hitting new daily highs. After a steep sell-off on a 1-minute chart, Active Trader's Market Depth clearly shows and Buyers outnumber sellers by a margin of greater than 2:1. I had more confidence taking this MACD crossover trade knowing that the short-term market tide was in my favor. Shortly after entry, my trade closed for a tidy 10 pip profit.

Click HERE for the details of the MACD 1-minute strategy.

Sir Just want to Understand the way you trade by FSS.. i read all this sir,, all Fss Video But didn't Find the way you Made a Perfect entry...

thank you sir...

Gregory McLeod · #**643** (**permalink**) 07-09-2009, 05:33 AM

Quote:

Originally Posted by KP FX Trader

Hi Greg,

A while ago you mentioned Elders book, Trading for a Living, its fantastic! It put into words things I was learning and observing intuitively. Wow!
I have read a handful of books on trading. Hands down this is # 1. Is it possible there is anything any better out there? I would have to say it is a must for all traders, kind of a bible for traders

What is the best book you have ever read on trading? If its Elders, than who would you say is runner up?

Hello KP!!!!! Welcome back. I hope all is well with in trading and life in general.
I am glad you enjoyed Trading for a Living. It still is one of my all time favorites and if I see it somewhere used, I pick up a copy to give to someone who is thinking about trading. My next favorite book would be anything by Mark Douglas--The Disciplined Trader ( I have an autographed copy!), Ari Kiev Trading to Win and all of the Market Wizards series by Jack Schwager. I am liking pivot points again after being away from them for a few years and John Person has two books that talk about those. He was one of the first to have them in hard bound book form.

KP FX Trader · #**644** (**permalink**) 07-09-2009, 09:47 AM

Hi Greg,

Things are OK, thanks for asking. I have been focusing on Trading Well NOT often as Elder says. I lost a chunk of change over several months, I was sloppy. I think thats what it had to take in order to really experience in reality the necessity of being disciplined. Its one thing think you 'know' it theoretically and another to know that you know through experience. When it hits you where it hurts, the wallet

I read Trading in the Zone by Douglas, actually I got through half of it and it really stopped clicking for me, too much Zen mentality for my taste. I think that mentality may be conducive to getting caught up in mass psychology, I like the plain facts and figures. Maybe I will give his other book you recommend a shot. I am about to dig into The Way of the Turtle next. Ever read that? Thoughts? and how are you feeling about the GBP/USD, turning back up today with a stoch crossover on the 16h? I like to wait for the MACD to cross on h4 and the stoch on the daily, the backtests on this for the GBP/USD yielded success, but I think the pair is in a retracement. A break of 1.6664 June 3rd high is the most conservative long play, its the waiting thats the key. Who knows, it may stay in a range between that and yesterdays low for a while. Make sense?

Kimaki · #**645** (**permalink**) 07-09-2009, 12:08 PM

Hi Chief, How are you today? Looking at AUD/CAD. She seems to be turning at the bottom of an uptrend channel presently at .91061 looks like to be able to go to .95363 with some resistance at .92100. Stops to be placed about 5 pips below .9010. What do you think? am I looking at this OK or is she still a wait see? And if so what am I looking for with the wait see?