Bee jesus, World War 3 will actually be a currency war, not a nuclear war!! So bloody obvious!! I can see it now...paper money being worth less than toilet paper, a country's balance sheet based on mineral wealth alone...mmmm....I need to ponder this further...the green pills seems to have opened my mind to all possibilities:whistling
Not happy with this price action today...something rather disturbing about it, maybe it's just me but think I'll exit shorts here and sit on the sidelines and observe....exit at 13910 gives profit of 84 pips...better than a kick in the face....I did not like the price action around the release of gdp numbers (sterling & gold appreciation today has also put me off).
I normally find cable sets the scene for all other currencies, which follow much later....
yep, feel released now on exit after today's price action, must be the right decision consciously, I've learnt to ignore greed and listen to my "comfort" signals....
Worst case, I short at a lower price, this is not the end of the world...
I normally find cable sets the scene for all other currencies, which follow much later....
yep, feel released now on exit after today's price action, must be the right decision consciously, I've learnt to ignore greed and listen to my "comfort" signals....
Worst case, I short at a lower price, this is not the end of the world...
84 pips
Not doing myself justice here, many others would say this:
short at 14101 = 191 pips
Short at 13981 = 71 pips
Short at 13900 = -10 pips
total profit = 252 pips!!!:clap:....who cares, entered at the right times and got out for the right reasons, that's all that counts....252 pips is petty cash
Not doing myself justice here, many others would say this:
short at 14101 = 191 pips
Short at 13981 = 71 pips
Short at 13900 = -10 pips
total profit = 252 pips!!!:clap:....who cares, entered at the right times and got out for the right reasons, that's all that counts....252 pips is petty cash
You know what the single most frustrating thing about forex trading is for me? Someone on the other side of the world could have been doing exactly what I was doing but going long at certain price points, and guess what..? We would have both (more or less) made about the same amount of pips,
so,
just because you make some money at forex trading does not mean you were right or a genius, there always has to be someone at the other end of the trade you make, so which one is the mug that will always lose money?..(probably both will lose money eventually, the banks that take the guaranteed profit on the spread are the only ones smiling)
oh well, whoever sold me my euros this evening, good luck with your short position....
so,
just because you make some money at forex trading does not mean you were right or a genius, there always has to be someone at the other end of the trade you make, so which one is the mug that will always lose money?..(probably both will lose money eventually, the banks that take the guaranteed profit on the spread are the only ones smiling)
oh well, whoever sold me my euros this evening, good luck with your short position....
But, the single funniest thing about forex trading? are the blokes trying high leverage trades chasing the "easy money" with targets of 10 - 30 pips. After two weeks, they were ALL right if they kept their trades open long enough (but, they couldn't because they were leveraged soooooo high), in the end very few actually made any money (but, next week will be different because I will be more disciplined and I have perfected my entry point)
I would only hope that they would do the math, it's simple...increase your target levels significantly, as well as increase your stop levels significantly, put less money on the table (a lot less), exit a trade on your terms not when your short stop kicks you out....you could be wrong on a trade so many times but still make more than you loose....
Please shoot me now, I'm giving forex advise, just as bad as the rest of them:cheesy:
I would only hope that they would do the math, it's simple...increase your target levels significantly, as well as increase your stop levels significantly, put less money on the table (a lot less), exit a trade on your terms not when your short stop kicks you out....you could be wrong on a trade so many times but still make more than you loose....
Please shoot me now, I'm giving forex advise, just as bad as the rest of them:cheesy:
That's a perfect signal for me to stop posting on forums, If you feel the need to give advise then you've become arrogant, actually, not arrogant (bloody stupid!!!), who gives their advise for free?? Unless it's not worth anything...:smart:
I prefer to remain humble, adiós suckers!!
I prefer to remain humble, adiós suckers!!
squall321
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lol there's no reason to flounce off
why do you care so much how other people trade, unless you're their mother, or you lent the money there's really no reason.
chill ya boots
B
Black Swan
Let it go Cloudy, free broadband access in Broadmoor wasn't such a good idea after all...
Thought I was on your ignore list Goose?? Pretty easy to flush you out...
is cloudy one of yours too? Hope you only stick to fx forums....NO WAY.....who would have thought it would be an Irish debt crisis to get euro going down.........I don't believe it for one second ( the Irish don't have that much influence, sorry to say)... The Germans would let their economy fail and deal with the impact of this...
I'll wait to see how strong any retracement is before deciding to short once again, I'd prefer to short on something a little stronger than the Irish expensive debt...what benefit do the Irish bring to the euro anyway,(other than over inflated property prices), the best thing for Ireland would be to get out of the euro currency, now that would be a good short on the euro!!
.....I don't believe it for one second ( the Irish don't have that much influence, sorry to say)... The Germans would let their economy fail and deal with the impact of this...I'll wait to see how strong any retracement is before deciding to short once again, I'd prefer to short on something a little stronger than the Irish expensive debt...what benefit do the Irish bring to the euro anyway,(other than over inflated property prices), the best thing for Ireland would be to get out of the euro currency, now that would be a good short on the euro!!
Let's see now, I'm sure I remember similar price action to the last couple of weeks on eur/usd before...
Seem to remember the same kind of price action happening just before a drop from 15100 'ish to about 13500? Not sure of exact numbers as going by memory, my charts are not open and take bloody half an hour to load so won't bother..
Now, back then eur/usd did not know which way to turn and was up and down by 300 pips many times, it did eventually take the Greece debt crisis + NFP numbers (or was it the Dubai debt crisis?...mmmm, need to up my dosage on the mucuna pruriens as memory is fading again, Mrs P would be happy with a higher dosage
What could possibly happen to break the deadlock? Not sure, but all I know is that the only country holding up the Euro is Germany, might as well rename the Euro to the Mark, you'd be shorting every other country in the EU!!! Think I'll pay more attention to the German economic indicators as this could be the final nail to a good short in eur/usd..
lol,
So, who will win? Yankies or Germans??
Pippy5000
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Howdy after 4 years. I'm still a day trader, but I've stumbled upon a method of trading that outperforms intraday style trading by enormous margins. Rather than trading just a few pairs, I now trade 27, but with tiny stops. My previous goal as a day trader was 5000 pips per year (hence Pippy5000), but my new strategy is far superior. It's a simple matter of using tiny stops and trading 27 pairs rather than the few most common. Testing the waters to see if anyone is still here?
Lightning McQueen
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hi pippy good to see you
FXChartStudies
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Hi Pippy, been doing the same but with massive stops
Pippy5000
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Howdy Lightning, good to see that you survived for so long. I guess you're doing well! I've switched over to using the daily charts with 10 - 15 pip stops and I'm only playing exceptionally strong s/r. It's really changed things for me. Each pair I trade rarely gets a trade, but since I'm trading so many pairs, I get a trade or two just about everyday. I'm dying for some of the pairs that have recently endured a nasty breakdown (AUD/USD and NZD/USD) to pop up to their initial breakdown trendlines. I'm daydreaming about a sell and hold situation.
systematicfx
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you better work on your correlation.
Pippy5000
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Well, the GJ 500+ pip marubozu candle (almost) leaves little to the imagination. The problem I have is that ninja needs to definitively clear the fib at 112.4. If you look at the history of ninja, each time it encounters this particular fib set, it tanks. I'm also disturbed by recent price action in the other JPY risk pairs. They came screaming up and then dropped 700 pips just a few weeks ago. I think the overall bias is clearly short JPY. After all, if you're printing money, your currency suffers. I'm just squeamish about taking a position until ninja closes above that fib. It's flirting now. What I'd really like to see is a pullback on Monday. Just a decent amount of profit taking in ninja and I'm in big on JPY weakness. I'd like to see it pullback to the RSI daily trend line break. I'm not going to get burned on a bad equity day on Monday by going long now. If I miss the larger move, so be it. We shall see. There's really not much meaningful resistance above this 112.4 fib until 115 or so. If ninja reached that level, the JPY risk pairs would likely be off the charts.
neil
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Pippy -could you post a chart, to be read in conjunction with your prose, for those of us who grasp the visual quicker than the written word. Many thanks if you are able to do so
