Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders
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Closed this out for +10 points, I am surprised the market has fallen again...I realisthe $ has ticked up again but we are well off the highs. Any thoughts or am i missing something fundamental?
dr.blix
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Dentalfloss
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nice one nasdiq
keep em coming
enjoy the money
keep em coming
enjoy the money
Dentalfloss
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nowt going here
5min data
5min data
Dentalfloss
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not alot happening with the s500 either
5 min data
5 min data
Dentalfloss
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yen has some strength.the low pole got taken out
10 min data
dont short the yen uneless you are sure of the outcome
hats off to nasdiq.!!
10 min data
dont short the yen uneless you are sure of the outcome
hats off to nasdiq.!!
Dentalfloss
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starting to see some strength in cable.the low pole has nearly been taken out
10 min data
10 min data
Think i might keep this going overnight. have moved my stop for +20 points. Weaker $ should help commodities/oil tomorrow, which could push Asia/Europe higher. All my reading today has persuaded me more that these markets are due a sharp fall, but I think we could be a couple of weeks away.It woulkd be braver man than me who would short the markets at the moment. Have a look at this website...News from 1930 it makes for interesting reading.
wallstreet1928
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Nasdiq
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yen has some strength.the low pole got taken out
10 min data
dont short the yen uneless you are sure of the outcome
hats off to nasdiq.!!
Yep...... always wait for confirmation.
Right after my post, we had a breakout, and now its formed a new channel between 91.25 and 91.10.
wallstreet1928
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By InTheMoneyStocks.com on September 22nd, 2009 3:09pm Eastern Time
Some rumored talk is starting to emerge from the Federal Reserve over possible removal of liquidity form the system. This may have a very negative impact on the markets as the bank stocks have been used to tons of cash at zero interest rates. Should money start to be taken out of the markets, this could mean higher borrowing rates and lower profits going forward for many banks. The markets have started to tick down. Watch for a key break of $107 on the SPY. Also, note stocks like AIG have had a huge reversal and have gone negative after being up huge all day. This could be a major deal for the markets. Remember, the Federal Reserve will give its comments tomorrow at 2:15pm ET.
http://www.inthemoneystocks.com/n_rant_and_rave_blog.php
19.15 UK TIME
PUT THIS INTO YOUR CALENDAR FOLKS
Very suspicious of today's Dollar move before the FOMC meeting
But that's another lesson why we must trade what see and not what we think should or could happen
Market is a constant learning curve
Some rumored talk is starting to emerge from the Federal Reserve over possible removal of liquidity form the system. This may have a very negative impact on the markets as the bank stocks have been used to tons of cash at zero interest rates. Should money start to be taken out of the markets, this could mean higher borrowing rates and lower profits going forward for many banks. The markets have started to tick down. Watch for a key break of $107 on the SPY. Also, note stocks like AIG have had a huge reversal and have gone negative after being up huge all day. This could be a major deal for the markets. Remember, the Federal Reserve will give its comments tomorrow at 2:15pm ET.
http://www.inthemoneystocks.com/n_rant_and_rave_blog.php
19.15 UK TIME
PUT THIS INTO YOUR CALENDAR FOLKS
Very suspicious of today's Dollar move before the FOMC meeting
But that's another lesson why we must trade what see and not what we think should or could happen
Market is a constant learning curve
wallstreet1928
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Good morning to all
Key levels to watch according to the hourly chart of the FTSE
Support levels;
5140- 38.2% Fibonacci retrace which coincides with 50 MA
5110
Resistance Levels;
5164
5152
5190
Watch the upward sloping diagnol trend line for support
Also posted on my blog at Benzinga.com
wallstreet1928 | Benzinga.com
Key levels to watch according to the hourly chart of the FTSE
Support levels;
5140- 38.2% Fibonacci retrace which coincides with 50 MA
5110
Resistance Levels;
5164
5152
5190
Watch the upward sloping diagnol trend line for support
Also posted on my blog at Benzinga.com
wallstreet1928 | Benzinga.com
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SuddenDeath
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good morning room
Da.DesiTrader
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Morning everyone. I tried this system today to make 5 pips on GBP/USD and USD/JPY. Orders placed last night 3 pips above previous day's highs and lows with limit to close position if in 5 pips profit. Stop loss at 10 or 15.
This thing worked about 10 times in past few weeks on demo (whenver I could place trade in the night). So today I tried on live and worked as well.
What do you think folks, use the power of leverage?
I know this is 2:1 or 3:1 risk reward, but if the probability is higher than 67%, then even 3:1 is good risk management.
Appreciate your comments. Specially Geo/LL/WS and other currency kings
This thing worked about 10 times in past few weeks on demo (whenver I could place trade in the night). So today I tried on live and worked as well.
What do you think folks, use the power of leverage?
I know this is 2:1 or 3:1 risk reward, but if the probability is higher than 67%, then even 3:1 is good risk management.
Appreciate your comments. Specially Geo/LL/WS and other currency kings
pedro01
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DOW 10,000 after FOMC meeting ?
or down to 9000 after the meeting?
Morning everyone. I tried this system today to make 5 pips on GBP/USD and USD/JPY. Orders placed last night 3 pips above previous day's highs and lows with limit to close position if in 5 pips profit. Stop loss at 10 or 15.
This thing worked about 10 times in past few weeks on demo (whenver I could place trade in the night). So today I tried on live and worked as well.
What do you think folks, use the power of leverage?
I know this is 2:1 or 3:1 risk reward, but if the probability is higher than 67%, then even 3:1 is good risk management.
Appreciate your comments. Specially Geo/LL/WS and other currency kings
Don't do it
It is true that when price breaks a previous swing high or low there is an initial added momentum as orders are triggered on the break of that level. If you had direct market access, were able to catch ticks from the move, had the speed and technology, fine, but working with a spread this is not a good idea.
That aside, IMHO you should just never have any risk reward ratio less than 2:1. What you are talking about is 1:2. 5 pips sounds like a quick catch (I don't know if you factored in the spread) but with a 10pip s/l after 5 losses in a row you now need 10 wins to just break even. Over the long term this is not a good idea. If you think probability is on your side, that's not enough - it can probably work each time but possibly also not work for a long while. The only thing that sees you through that stretch is having paid for your losers by having a rule to set a minimum win as more than your maximum failure on any given trade.
Why not take that idea and expand it to a higher timeframe. You can see that a previous high or low being broken means fresh interest at that level and orders coming in to push price further. Look on higher TFs and work out a strategy that can capitalise on that with a better risk/reward.
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