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 FOREX | v se7en, the market is very SucKy

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luqmanz
post May 10 2010, 12:05 PM

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QUOTE(tuo850 @ May 10 2010, 10:39 AM)
retracement good for scalping?..or it is not?
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Good if we know what we are doing ... biggrin.gif

Added on May 10, 2010, 12:14 pmI expect hte retracement to go up to 5150 ... biggrin.gif

But I could be wrongg~~~~ biggrin.gif

This post has been edited by luqmanz: May 10 2010, 12:14 PM
luqmanz
post May 10 2010, 04:22 PM

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QUOTE(billytong @ May 10 2010, 03:57 PM)
Isnt the guys in BNP saying 1.19? it is already up 240pips fro bottom now.  I hope they are right.....
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Still too early to tell I guess ...

If Cable breaks 1.4900 ... it might go straight to ... 1.5150 ... pyramid your positions people ... thumbup.gif
luqmanz
post May 10 2010, 04:26 PM

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QUOTE(allancth @ May 10 2010, 04:23 PM)
It's nearing my stop loss. Damn..
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Where do u have your SL ...? 1.500 ?
luqmanz
post May 10 2010, 04:30 PM

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QUOTE(billytong @ May 10 2010, 04:27 PM)
not to say too early to tell, but I know one thing. USD and EUR cannot fail unless there is a 3rd currency to replace them.  biggrin.gif Yuan is not openly traded, GBP is no where near competitive.  tongue.gif Besides there are tooo many variables happening over the long term. Nobody can predict the future.  tongue.gif
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Yaa u r right ... cannot live without USD or EUR .. lol ...
luqmanz
post May 10 2010, 04:58 PM

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QUOTE(jack2 @ May 10 2010, 04:47 PM)
those who short EU, mati kong kiao... hehe
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I dont trade EU ... but short tak mati laaa ... got stop loss what ... haha biggrin.gif
luqmanz
post May 10 2010, 09:51 PM

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QUOTE(Invince_Z @ May 10 2010, 07:05 PM)
in my opinion, the bail out will not last long.

GU already touch 1.5000 n still climbing.

luqmanz: what happen after pyramid formed (upside down)? a fall? or climb non-stop?
OT: proud that malaysia didn't use IMF even once.
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Not sure what you mean. Pyramiding is a method to average up your position. You add smaller position as the market goes in your favor.
When market moves, trail your stop and add a small position.

Added on May 10, 2010, 10:25 pmI closed all longs. Gonna wait for a better setup. ... hmmm .....

This post has been edited by luqmanz: May 10 2010, 10:25 PM
luqmanz
post May 11 2010, 09:00 AM

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Morning all biggrin.gif

I'm looking to short Cable today. 1.4900 seems like a good place to put the short. biggrin.gif

Let's see how it works .... biggrin.gif

Added on May 11, 2010, 2:46 pm
QUOTE(luqmanz @ May 11 2010, 09:00 AM)
Morning all biggrin.gif

I'm looking to short Cable today.  1.4900 seems like a good place to put the short. biggrin.gif

Let's see how it works .... biggrin.gif
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Change of plan. Looking for a long around 4800. sweat.gif

This post has been edited by luqmanz: May 11 2010, 02:46 PM
luqmanz
post May 11 2010, 04:49 PM

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QUOTE(luqmanz @ May 11 2010, 09:00 AM)
Morning all biggrin.gif

I'm looking to short Cable today.  1.4900 seems like a good place to put the short. biggrin.gif

Let's see how it works .... biggrin.gif

Added on May 11, 2010, 2:46 pm

Change of plan. Looking for a long around 4800.  sweat.gif
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Got a long position at 4850 ... a small position just to test the market ...

4800 (blue line) is a weekly support and 50% retracement from the obvious uptrend. Such confluence is good enough for me to take a position.

Let's see how it works. Theres no guarantee in this business. sweat.gif sweat.gif




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luqmanz
post May 11 2010, 07:18 PM

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QUOTE(luqmanz @ May 11 2010, 04:49 PM)
Got a long position at 4850 ... a small position just to test the market ...

4800 (blue line) is a weekly support and 50% retracement from the obvious uptrend. Such confluence is good enough for me to take a position.

Let's see how it works. Theres no guarantee in this business.  sweat.gif  sweat.gif
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My long got burned. LOL ... Reversing the position now. 1 short position.. @ 1.4750 ...
luqmanz
post May 12 2010, 09:03 AM

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QUOTE(luqmanz @ May 11 2010, 07:18 PM)
My long got burned. LOL ... Reversing the position now. 1 short position.. @ 1.4750 ...
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Closed short .. Long @ 1.4900.

The price action is crazy lol.
luqmanz
post May 12 2010, 09:46 AM

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QUOTE(rstusa @ May 12 2010, 09:29 AM)
GBP rose up to 1.4900 yesterday after Conservative leader David Cameron became Britain's new prime minister.
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Yaa ... thumbup.gif
luqmanz
post May 12 2010, 11:10 AM

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QUOTE(billytong @ May 12 2010, 10:55 AM)
If you have noidea where the market wanna go, I suggest taking a break and watch sidelines. tongue.gif

however I still havent change my short bias on Euro, until they actually really solve the problem entirely.
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Hehehe ... sweat.gif sweat.gif
luqmanz
post May 12 2010, 03:27 PM

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QUOTE(luqmanz @ May 12 2010, 09:03 AM)
Closed short .. Long @ 1.4900.

The price action is crazy lol.
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Long is looking good for now. Time to trail SL. It's now approaching 1.500 .. sweat.gif
luqmanz
post May 13 2010, 07:54 AM

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QUOTE(billytong @ May 12 2010, 05:16 PM)
I hope anyone here manage to grab the green pips today.

yes. the water tank that filled up already got hole now... draining water.  biggrin.gif
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No go here billy ... I screwed up .. ... I just got breakeven .... LOL sweat.gif

Added on May 13, 2010, 3:37 pmSmall scalping ..

Short Cable @ 4900. TP 4880 & 4800

Added on May 13, 2010, 4:02 pm
QUOTE(luqmanz @ May 13 2010, 07:54 AM)
No go here billy ... I screwed up ..  ... I just got breakeven .... LOL  sweat.gif

Added on May 13, 2010, 3:37 pmSmall scalping ..

Short Cable @ 4900. TP 4880 & 4800
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TP @ 4880 achieved. Letting the remaining position run. Trail stop.

Added on May 13, 2010, 4:12 pm
QUOTE(luqmanz @ May 13 2010, 07:54 AM)
No go here billy ... I screwed up ..  ... I just got breakeven .... LOL  sweat.gif

Added on May 13, 2010, 3:37 pmSmall scalping ..

Short Cable @ 4900. TP 4880 & 4800

Added on May 13, 2010, 4:02 pm

TP @ 4880 achieved. Letting the remaining position run. Trail stop.
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Closed at 4850 ... stand aside .. news time.

This post has been edited by luqmanz: May 13 2010, 04:12 PM
luqmanz
post May 14 2010, 08:33 AM

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Cable went down 300 pips last night ... biggrin.gif
luqmanz
post May 14 2010, 09:02 PM

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QUOTE(momok_08 @ May 14 2010, 08:54 PM)
go2 flying eu... tongue.gif
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Gogo flying GU ... what price did u buy Euro ? I got my GU at 4540 .. now its around 4630 tongue.gif
luqmanz
post May 14 2010, 09:55 PM

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I'm done for today .... closed all position for 1.7% profit ...

Small is ok ... consistency is key ... biggrin.gif
luqmanz
post May 16 2010, 08:13 PM

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QUOTE(Sifha238 @ May 16 2010, 07:31 PM)
Hi everyone, do you know any Forex classes for beginner ? How much it cost ? I still can't understand learning by read all the article from website

Sorry if this already mention before but there is lots of pages for me to look up for
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I can recommend you a very good book. Please read the sections about pivot,candlestick, psychological level, fibonacci and classic patterns.

http://www.amazon.com/Forex-Conquered-Prob...s/dp/0470097795

This post has been edited by luqmanz: May 16 2010, 10:08 PM
luqmanz
post May 17 2010, 10:38 AM

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QUOTE(allancth @ May 17 2010, 10:27 AM)
Interesting GBP/USD... Anyone still holding shorts for this pair?
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Nope ... kinda feel bad because I was driving when my system triggered the signal @ 4550 this morning.

sweat.gif sweat.gif sweat.gif sweat.gif sweat.gif


luqmanz
post May 17 2010, 10:54 AM

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I think 4300 is the bottom ... for now lol ...
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