Thread: Closed: Discuss EUR/USD News with a DailyFX Analyst

I am diffently not pickin on T3T4 at first I did not understand where he was coming from but know i see what he is saying. I was merely tring to point out that SMA crosses have a nack of being the next point to hit. (sometimes)
ie entry and exit strats

Originally Posted by bill2759

Too many people picking on T3t4.
Myself! I sometimes reference Collys 6, 26 RSI's as SMA's. they're not too bad at giving Buy/Sell signals. As for when to take Profit? Used in conjunction with ATR, is a fair scalping method. For the big Moves, open several positions, close one right at the ATR. and follow with a breakeven stop, and keep adjusting.
Here's what the SMA's look like.

Bill

P.S. I use Em on a ten minute chart.

Originally Posted by MoneyInc.II

Whats up?

I do not think the sma is equal to the twin RSI. The RSI overlay has the ability to "somewhat" predict where the pair is going to move. Take a look at the pics ......Sorry dude.....

Hi there Money, not much new here, slow day. How about you?

No worries man, but I gotta thank you SERIOUSLY for being the ONLY one to actually read what I wrote instead of hearing fiction. You are correct, SMA's are not "equal" to RSI. I do totally agree!

I did say they were equal or rather the equivalent, and you totally caught it! Thank you greatly for paying attention.

I would just like to say: I WAS WRONG!!!!! Their not the equivalent of each other!

Somebody read equivalent but "heard in their mind" the word, "same". I never freekin said they were the same thing...LOL

SAME, did someone say SAME, SSAAMMEE SSSSAME???? Then all these fire alarms start going off and it's OMG he said they were the same thing, did you hear that....LOL Seriously, I do think it's funny.

But that's what I get for trying to help a guy out I guess.

I'm not upset about any of it, not even a little, I hope no one else is either. If we can't share thoughts and styles here and help each other out, then what's the point? Right?

Thanks again Money, and happy trading to all and to all a good night...

t3t4

Originally Posted by bill2759

Too many people picking on T3t4.
Myself! I sometimes reference Collys 6, 26 RSI's as SMA's. they're not too bad at giving Buy/Sell signals. As for when to take Profit? Used in conjunction with ATR, is a fair scalping method. For the big Moves, open several positions, close one right at the ATR. and follow with a breakeven stop, and keep adjusting.
Here's what the SMA's look like.

Bill

P.S. I use Em on a ten minute chart.

Hey thanks Bill, I don't know what the symbol is for a hand shake, but here's a couple thumbs up for ya..

In my chart below you will see the SMA's have not crossed yet on the daily chart. This is why I say not to count wave two over just yet. It might be over, but I'll wait for confirmation before placing a long trade on what I think will be a killer bullish pair.

Happy Trading,

t3t4

Originally Posted by brad_1199

Looking for short entry @ 1.3000

Stop @ 1.3250

Target @ 1.2500

Risk = 250 Pips

Reward = 500 Pips

EUR/USD Charts ----->

Originally Posted by brad_1199

EUR/USD Charts ----->

I would never risk 250 pip on any trade for 500. Does that work for you? I MEAN really once you in the trade your stuck for quite a while. While you're trading the one move for 500 pips others are getting 1500 2000 playing the swing... range, scalping. if you have to give your self 250 pips to get the move you want it is not a good TRADE.

So you are long now RIGHT?

Originally Posted by MoneyInc.II

I would never risk 250 pip on any trade for 500. Does that work for you? I MEAN really once you in the trade your stuck for quite a while. While you're trading the one move for 500 pips others are getting 1500 2000 playing the swing... range, scalping. if you have to give your self 250 pips to get the move you want it is not a good TRADE.

So you are long now RIGHT?

It completely depends on your risk profile Money Inc.. Everybody has their own style...

1:2 risk to reward ratio or better, is fine for any trade, for me anyway..

It is not wise to be using high amounts of leveredge.. You are just begging for a margin call if you let greed control your trading..

Lets say trade profile. To me that is a mid term trade profile 3 to 5 months. if I were new to the forum I could mistake your trade for a short term trade. Plus if there were news that could go against you. your risk to reward could turn out to be 10:1 In my eyes still not a good trade. You are not leave yourself room for rewards greater the 1:2..

So bear are you long here.

I just saying....no harm meant

Originally Posted by brad_1199

It completely depends on your risk profile Money Inc.. Everybody has their own style...

1:2 risk to reward ratio or better, is fine for any trade, for me anyway..

It is not wise to be using high amounts of leveredge.. You are just begging for a margin call if you let greed control your trading..

Originally Posted by MoneyInc.II

Lets say trade profile. To me that is a mid term trade profile 3 to 5 months. if I were new to the forum I could mistake your trade for a short term trade. Plus if there were news that could go against you. your risk to reward could turn out to be 10:1 In my eyes still not a good trade. You are not leave yourself room for rewards greater the 1:2..

So bear are you long here.

I just saying....no harm meant

The time frame you are suggesting is too long.. I expect to see the profit target hit within 60 days maximum... But more than likely within the first thirty days...

You and I have never seen eye to eye Money Inc..

My analysis is based on elliott wave theory, candlestick patterns and fibonacci meausurments... And proves to be correct a lot... So it works for me..

Brad i have never interacted with you other than today. Maybe no one has ever question you on your trading style other than today. We all use the same indicators so what works for you also works for others and me included.

I will go on record to say 1) if you were confident in your study the need for a 250 pip cushion is not need. 2) THIS IS A FORUM ALL OPINIONS SHOULD BE WELCOME.....EYE TO EYE OR NOT. 3) Cool we will see by Nov 2 2010

Originally Posted by brad_1199

The time frame you are suggesting is too long.. I expect to see the profit target hit within 60 days maximum... But more than likely within the first thirty days...

You and I have never seen eye to eye Money Inc..

My analysis is based on elliott wave theory, candlestick patterns and fibonacci meausurments... And proves to be correct a lot... So it works for me..

before


after


now

Originally Posted by stanchiam

before


after


now

Man, you got my eyes bugging out out here. Is it just me and my monitor or do these charts look almost 3D?

But yeah, I too see this playing out as you described, providing certain conditions play along with it. Ya just never know for sure until it happens. I'm focused on the daily chart and looking for confirmation there, I don't see it just yet. So I'm scalping and waiting, scalping and waiting some more. Lucky for me I'm patient I guess,,,LOL

Happy Trading,

t3t4

Originally Posted by t3t4

Hi there Money, not much new here, slow day. How about you?

No worries man, but I gotta thank you SERIOUSLY for being the ONLY one to actually read what I wrote instead of hearing fiction. You are correct, SMA's are not "equal" to RSI. I do totally agree!

I did say they were equal or rather the equivalent, and you totally caught it! Thank you greatly for paying attention.

I would just like to say: I WAS WRONG!!!!! Their not the equivalent of each other!

Somebody read equivalent but "heard in their mind" the word, "same". I never freekin said they were the same thing...LOL

SAME, did someone say SAME, SSAAMMEE SSSSAME???? Then all these fire alarms start going off and it's OMG he said they were the same thing, did you hear that....LOL Seriously, I do think it's funny.

But that's what I get for trying to help a guy out I guess.

I'm not upset about any of it, not even a little, I hope no one else is either. If we can't share thoughts and styles here and help each other out, then what's the point? Right?

Thanks again Money, and happy trading to all and to all a good night...

t3t4

Hi t3t4!!

I just read all the posts starting from where you suggested using MA's instead of Twin Speed RSI's and use the cross-over as the buy and sell signals.

I think if you know which EW you are currently in and then you use the cross-overs for entry and exit (for exit one can also look at fibonnacci extensions levels), it would work pretty well.

Thank you for your valuable input. I really appreciate it.

Regards

Originally Posted by stryker

Hi Hamid. Good to know you are from Pakistan. I'm also from Pakistan and Welcome to the Forum.........

GL............

Hi Stryker

Just discovered that you're from Pakistan so thought of saying hello as I'm also from Pakistan. Hope your trading is going good. I like your charts and the work you do for the forum.



Regards

Bhattid

Dude I never really put the SMA correlation together until today. Thanks T3T4

Originally Posted by bhattid

Hi t3t4!!

I just read all the posts starting from where you suggested using MA's instead of Twin Speed RSI's and use the cross-over as the buy and sell signals.

I think if you know which EW you are currently in and then you use the cross-overs for entry and exit (for exit one can also look at fibonnacci extensions levels), it would work pretty well.

Thank you for your valuable input. I really appreciate it.

Regards

t3t4!!!! I was away the whole day yesterday and hence was not able to read your post and say thanks before but I really do see your point as you tried to offer me an alternative to something I can't get (as I don't have the coding for twin speed RSI's). So I'm really thankful to you for reading my post and replying to it instead of just ignoring it.

Best Regards

Bhattid