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07-24-2008, 07:17 PM
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Join Date: Aug 2006
Posts: 197
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Quote:
Originally Posted by rickos69
I agree with you totally. Staying on the sidelines and waiting is part of playing. But, for me, as for probably others, you don't feel like you're part of the game unless you have bought or sold. I wish I had your patience. I'll work on it though. And you are also right about politicians and/or economical bigwigs. Except that they are not big mouths. It's on purpose. Personally, I had to find out the hard way, that, one of the biggest advantages anyone could have, is enough margin to ride out an opposite move. Sooner or later, the price will go the way you want it. You gotta have MARGIN ROOM!!!
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better to cut your losses on bad trades then to try to wait for them to "come back around". you were on the right track when you said you needed to work on patience=) |
07-24-2008, 07:29 PM
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Join Date: Mar 2008
Posts: 1,459
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Spinning top
Daily chart shows a spinning top candle stick. Could mean a reversal.
I would have been happier with a long legged doji, but lets see what happens.
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07-24-2008, 08:05 PM
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Friday's short target
Dear Members, yesterday came up a bit short of the target I gave (61.8% ret at 1.5584) but today this target remains for the E wave. In fact, a slight overshoot to 1.5566 Gann line is your low target for today.
Shorts should be taken at 1.5704 to 1.5711, waiting for momentum to fall of course, as the Gann angle lines will stop any further rise of what could still be a D wave. I had thought the D ended with the surge to 1.5714, but it might well still be completing. My chart labelling should be adjusted to show C at 1.5640.
Good luck and don't be tempted to go long unless the 100dma at 1.5655 holds again! 
Last edited by terton; 07-28-2008 at 07:28 PM..
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07-24-2008, 08:22 PM
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Technical Trader
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Join Date: Apr 2004
Posts: 1,908
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Quote:
Originally Posted by sed34
ok. this is the thired time i'm posting this. the board doesn't seem to want to post my message. But how do you predict the top. many thought we would be at 1.62. what happened?
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just remember its never a straight climb or down.........
__________________
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us—
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
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07-24-2008, 08:34 PM
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Technical Trader
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Join Date: Apr 2004
Posts: 1,908
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Quote:
Originally Posted by Flguy
Stryker good to hear from you again... I am glad of you return and your postings.
I was just reviewing your charts and I am trying to make some sense out of them.
I have to admit that I am lost reading and following your assumptions. I noticed that there were instances that you could have some other points that would have changed your trend from bearish to bullish. However you chose to go bearish and shorted the pair which worked for you. Unfortunately my conclusions where opposite to yours and I am still bullish and I am just going to keep them open for the time and be patience since I know the cable will return back to the highs in the 2.000s
Please can you suggest reading so I can follow your mindset?
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don't know if we are in trend reversal or this is just the glitch we require before we go head higher...
once below 5757 and following that TL now around 5-6 pips higher, i consider a neutral territory........... but then again im a techie...... i emphasize on candlestick and the TL i base my trades upon....... easiest gains are in trend. otherwise simply follow the TL's which i do regardless of what the fundies are unless its the fed's or the nfp and the like....
as for reading the only book i have read is by Oliver Velez and Greg Capra "how to be a master day trader".......
i pretty much self learned and i only started with the simple tech analysis...
__________________
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us—
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
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07-24-2008, 08:47 PM
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Member
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Join Date: Feb 2008
Posts: 177
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Quote:
Originally Posted by stryker
reassesing the charts and now better buys to come from 5612 supp...
not gonna jump in too heavy...
more buys around 5586-91.. stops below........
turning to be a decent day... only wish i was heavier........... disposed all short at 5733.........
got in only 1 tester lot at 5731 off the 5727 supp i mentioned earlier....
stops for this is close by...........
GL ....
EDIT:
stops on BE................... no chance to take here......
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stryker you are up early, just to clearify, you ment 5631 and not 5731, and 5627 and not 5727, right? newbies might get confused.. |
07-24-2008, 08:54 PM
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Technical Trader
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Join Date: Apr 2004
Posts: 1,908
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Quote:
Originally Posted by pf0351
stryker you are up early, just to clearify, you ment 5631 and not 5731, and 5627 and not 5727, right? newbies might get confused..
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LOL........
ur rt......... 5631 and off 5627 supp......
early, no its weekend here and i just came back........ will be off soon for the ZZZZZZZZZZZZZZZZZZZZZZZZz's..........
__________________
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us—
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
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07-24-2008, 08:57 PM
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Member
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Join Date: Feb 2008
Posts: 177
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Quote:
Originally Posted by stryker
LOL........
ur rt......... 5631 and off 5627 supp......
early, no its weekend here and i just came back........ will be off soon for the ZZZZZZZZZZZZZZZZZZZZZZZZz's..........
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I hope you have airconditioning, it will be 105F in Dubai Today... |
07-24-2008, 10:01 PM
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Member
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Join Date: May 2008
Posts: 232
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Good to see u back styker, love ur TL charts and it would a shame to see them go.
Not much more to add on strategy, everyone has said what I would say and more..
Mayb one thing to add is, its friday and people will be taking profits, I believe that most of us are short, therefore we should see a decent bounce northwards sometime at the end of the day.
I don't have any positions except the one from weeks and weeks ago at 5477, sweet spot. Guess I'm just earning from the miniscule rollover. heehee.
As for entries, 5610 area long, SLs below. Actually have a small short at yesterday's high with a tight SL and TP at yest's low.
By the way, salsa, been rather quiet lately eh? Bz drawing critters i suppose, hope you're doing good. Wonder how fxaprendiz is doing, pity he left.
I've just started a new job with an investment co., doing statistical analysis thus haven't been posting so much. Been reading all the posts tho, great to see more and more people around.
GL All. Be well.
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07-24-2008, 10:57 PM
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Member
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Join Date: May 2008
Posts: 57
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Quote:
Originally Posted by dennisc
Good to see u back styker, love ur TL charts and it would a shame to see them go.
Not much more to add on strategy, everyone has said what I would say and more..
Mayb one thing to add is, its friday and people will be taking profits, I believe that most of us are short, therefore we should see a decent bounce northwards sometime at the end of the day.
I don't have any positions except the one from weeks and weeks ago at 5477, sweet spot. Guess I'm just earning from the miniscule rollover. heehee.
As for entries, 5610 area long, SLs below. Actually have a small short at yesterday's high with a tight SL and TP at yest's low.
By the way, salsa, been rather quiet lately eh? Bz drawing critters i suppose, hope you're doing good. Wonder how fxaprendiz is doing, pity he left.
I've just started a new job with an investment co., doing statistical analysis thus haven't been posting so much. Been reading all the posts tho, great to see more and more people around.
GL All. Be well.
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dennis-nice to see you back. I have been busy too. So I have been reading,but not posting. I made a major error-I did not listen to my charts and went by instinct instead. Got caught long this pair with far away stops,I'll make it up though. My AUD,GBP,EUR,NZD,CAD,andCHF dollar paired charts have ALL turned dollar bullish in the last two days. Time will tell if it's just a correction or a reversal of trend. I would have to bet it is the former. willyc
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07-25-2008, 12:12 AM
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Member
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Join Date: May 2008
Posts: 13
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Help comes with change.
I need help!
I have been trading this forex market for the past 1 year and all I can say is it has been an ABSOLUTE DISASTER.
What ever you're doing.....STOP. Its not working. Repetative loss behaviour
is common in trading...it usually ends when all your capital is exhausted; and you are, by the sound of it, emotionally frustrated. So Stop. Period. Time Out, Game over, Hit the showers. After you step out, Time Off. You have a block and need to break the cycle. Look your self in the mirror and ask if you really want to trade? Its gotta be in your gut, the drive to be a cold blooded winner.
You'll still need a Trading Plan just like any business has a plan; and a need to identify a Level on which you can realistically participate and survive. You'll need a system and stats on the system to identify pit falls before excessive draw downs wipe you out. AND, loads of screen time, a full time, on the job, job.
If you need direction, a short cut to systems and plans; (and there$ load$ of tho$e ready to loot and root you ) I know a few free simple ones. Infact, so simple a disciplined grade schooler can be profitable. You can PM if your serious about changing.
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07-25-2008, 02:00 AM
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Member
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Join Date: May 2008
Posts: 120
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Quote:
Originally Posted by dennisc
Good to see u back styker, love ur TL charts and it would a shame to see them go.
Not much more to add on strategy, everyone has said what I would say and more..
Mayb one thing to add is, its friday and people will be taking profits, I believe that most of us are short, therefore we should see a decent bounce northwards sometime at the end of the day.
I don't have any positions except the one from weeks and weeks ago at 5477, sweet spot. Guess I'm just earning from the miniscule rollover. heehee.
As for entries, 5610 area long, SLs below. Actually have a small short at yesterday's high with a tight SL and TP at yest's low.
By the way, salsa, been rather quiet lately eh? Bz drawing critters i suppose, hope you're doing good. Wonder how fxaprendiz is doing, pity he left.
I've just started a new job with an investment co., doing statistical analysis thus haven't been posting so much. Been reading all the posts tho, great to see more and more people around.
GL All. Be well.
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Hey m8 !! How have you been?? haven't seen you on MSN for some time, guess we just missed each other, busy times atm.. I am not drawing many critters right now, doing full time night shift, which is in the asian session. So not really able to do a lot of trading when i am awake, lol. Only a few hours in the mornings and when i wake up from 15-17GMT before i have to leave for work again 
As for trading, still holding my two longs from 1.5702 and 1.5690, took some shorts during the evening yesterday but they mostly broke even. Greed simply got the head of me, hehe.. If i am predicting those TLs correctly, i think this next move won't go further than around 1.5745-50 area, before heading for another test of 1.5610. Therefore, first long target is 1.5740, next is open. Just in case we break through this resistance level. SL on both longs moved to 1.5700 now.
Two entries waiting at 1.5738 and 1.5744. SL on both at 1.5765. First target 1.5615, next open. Let me hear your thoughts on this plan.
/Salsa
Last edited by Salsaprince; 07-25-2008 at 02:19 AM..
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07-25-2008, 02:37 AM
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Member
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Join Date: Jun 2008
Posts: 15
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hi stryker
about the book Oliver Velez and Greg Capra "how to be a master day trader are there some examples or its just descripcion can you recomend it or could you recomend some good book for scalping ? thnak
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07-25-2008, 04:14 AM
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Registered User
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Join Date: Nov 2007
Posts: 1
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Hi forum,
I follow posts on this forum regularly, i must confesss they quite educative
and informative.However,i have these thots,felt i shud chip in,a reversal
hammer on chart,EUR/USD in oversold region,retail traders heavily long
(SSI) ............and suddenly Liebscher Talks Rates & Inflation ,could his
rhotorics be a coincidence?why wait all this while?is it a clue that the big
sharks will go long today?Please any answers?
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07-25-2008, 04:34 AM
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Member
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Join Date: Apr 2008
Posts: 142
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Stopped
I got stoped out @ 5700 with my entry at 5705 from Wednesday entry. Has not been a good week as was bearish USD and things have obviously turned.
time to get back to the drawing board.
I have a short entry at 5740 sl 5769 tp 5630.
USDCHF is very confusing at the moment. Trying to push through the major resistance chanel and fib line at 0380, to me looks like a good RR trade to short but hey I've tried it twice in the last 2 days and I'm just not feeling too confident with the way price is behaving. Anyone else seeing this?
GL all
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