forex trading is so hard...

Dowser

Experienced member
1,234 276
EURO rising so far...thank god!

i prayed a lot, and my prayer is heard!
Is praying part of your strategy? I've never tried it, does it work?

I'd like $5000 per week, can you recommend a good prayer?

Many Thanks

Billy Bóllocks
 

piphoe

Legendary member
10,038 194
Is praying part of your strategy? I've never tried it, does it work?

I'd like $5000 per week, can you recommend a good prayer?

Many Thanks

Billy Bóllocks
5K/week is that all?

fridays are a waste..

if making real $ i'd take ALL fridays OFF

3 day weekend! babes & booze, and back to the "office" real EARLY MONDAY

to start SLINGING again:)
 

piphoe

Legendary member
10,038 194
i don't know why but fridays currency pairs just sit on their hands ...

i mean WTF fridays are another trading day right??
 

Dowser

Experienced member
1,234 276
5K/week is that all?

fridays are a waste..

if making real $ i'd take ALL fridays OFF

3 day weekend! babes & booze, and back to the "office" real EARLY MONDAY

to start SLINGING again:)
Why stop there? You could have an algo do the slinging whilst you spend all week drinking, snorting and tossing dwarves.

Welcome.to.my.world...
 

piphoe

Legendary member
10,038 194
they don't even TRY make it look like a real trading day anymore
 

FXX

Experienced member
1,140 195
i don't know why but fridays currency pairs just sit on their hands ...

i mean WTF fridays are another trading day right??
There was one opportunity today on cad but besides that nothing on the board. Trading every day only makes sense when drivers are at work in the market

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Brumby

Established member
593 137
There was one opportunity today on cad but besides that nothing on the board. Trading every day only makes sense when drivers are at work in the market
Did you trade this particular data release? I was initially perplexed by the strength of the initial 5 minutes price action after the data release as headline numbers did not seem significant enough as a miss to generate such weakness in CAD.

This commentary came in through Forexlive on the CAD data "The CPI came in mostly as expected, but the YoY did dip to 2.2% vs 2.3% expectations. Then there was the retail sales. That headline came in at 0.6% vs 0.3%, but all the gains were in the volatile auto and parts. Looking at the ex auto and parts, the number was -0.2% vs. 0.5% expectations.

So the nuances of the data was enough to push the CAD lower as traders started to take out the prospects for a tightening at the next meeting. In fact, the chances for a hike at the May 30th meeting fell from 43% to 28.3% currently (as per the OIS market)."

I did consider a trade on price action and market structure but given what was happening and RR it was a difficult proposition as explained in the attached chart on a 1 min TF.

 

FXX

Experienced member
1,140 195
Did you trade this particular data release? I was initially perplexed by the strength of the initial 5 minutes price action after the data release as headline numbers did not seem significant enough as a miss to generate such weakness in CAD.

This commentary came in through Forexlive on the CAD data "The CPI came in mostly as expected, but the YoY did dip to 2.2% vs 2.3% expectations. Then there was the retail sales. That headline came in at 0.6% vs 0.3%, but all the gains were in the volatile auto and parts. Looking at the ex auto and parts, the number was -0.2% vs. 0.5% expectations.

So the nuances of the data was enough to push the CAD lower as traders started to take out the prospects for a tightening at the next meeting. In fact, the chances for a hike at the May 30th meeting fell from 43% to 28.3% currently (as per the OIS market)."

I did consider a trade on price action and market structure but given what was happening and RR it was a difficult proposition as explained in the attached chart on a 1 min TF.

Morning Brumby

I did take this on the release. My thinking at the time was the lack of cpi growth and core sales. I was also watching oil running lower into the release. The lack of cpi growth put any hike on ice with the core sales being the nail in the coffin. I was also in the mindset that this was the only opportunity on the day so there was likely going have have some attention if it was soft. I was expecting a softer reaction so only took 25 pips from the trade.

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piphoe

Legendary member
10,038 194
I trade like this all the time. After huge candle spike, I try get in for couple more candles, looking for exhaustion. I short when I think I see that for the retrace. Then cover, try get back in for another run higher. Get out higher (hopefully), but then wait for nice little drop into "the pocket". take another long, this one let it claw & climb higher. Get out. then wait & see what happens, thats how i scalp that chart..

:cool:
 

piphoe

Legendary member
10,038 194
another saturday, looking over charts manually testing ideas for next ....HRS

tomorrow more of same. be ready for next week.