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 Forex | Version 9, Foreign Exchange Market Discussion

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FxPlayboy
post Oct 24 2011, 02:06 PM

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36 is a prev R, watch that level
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heading to 68-77 i think but 46 will be a minor hurdle
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cover 36p, 46 not giving and bull lost momentum, waiting for nx setup


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looking for 55 now, H4 pin bar

@scar, looked like fake and shakes for bull

got my number 55 already, moving my stop lower and see if it trigger further fall or bounce.

cover tp for 59p. @ 48 looks like bouncing.

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cant resist, 21-24 will be the decider here, if it cant hold then i think will fall to 94 else bounce back to 55

out @ breakeven
watch how 55 plays out, if price remain above then long, below then short wink.gif
H1 still looking bullish with 21 supporting. watch out for the dbl/triple btm.

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finally out of range looking for 16 now. but must first pass 85.

got my 16 checkpoint, move stops further and see if we break daily high for 77 that i was aiming earlier. 46 could be in play again.

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46 and 16 play out nicely. now expecting 2nd stab either break higher to 77 or rejection then i'll TP.

tp cover 80p. too tired to monitor the trade.

Done my public service and contribution to the forum with simple play by play to make 150+p/day. That's all boys. G9.

This post has been edited by FxPlayboy: Oct 25 2011, 01:37 AM
FxPlayboy
post Oct 25 2011, 01:34 PM

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dbl top forming, as long 16 is holding below, i'd sell the rally. Above 16, buy.

This post has been edited by FxPlayboy: Oct 25 2011, 01:36 PM
FxPlayboy
post Oct 25 2011, 03:19 PM

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check your calendar and get some fundie knowledge then u'll know when we'll range. Summer usually range harder than other month. Check your D1 chart you'll see it there. Also pre big news release like rates, nfp, fomc also the big boys wont move it that much before release. One more eye watching your bloomy too cauz vote and meeting stuff release on wednesday so current wipesaw ranging is expected too.

16 is the level you should eyeball. sell the rally as i mention earlier.

@scar am looking for 94 if it materalize
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This post has been edited by FxPlayboy: Oct 25 2011, 03:29 PM
FxPlayboy
post Oct 26 2011, 12:26 PM

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unfriend/unsubscribe him? actually why bother lol
FxPlayboy
post Oct 26 2011, 09:45 PM

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i mentioned 77 on my last few post. well, 2 pips off the target but it's all good and back to 16 now. hope we get 55 again and eventually 94 wink.gif

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@wschoo26

earn your rights to trade larger position, demo trade 0.01 until u do alittle better. You can post ur trade for us to review. cheers.

This post has been edited by FxPlayboy: Oct 26 2011, 09:56 PM
FxPlayboy
post Oct 26 2011, 11:01 PM

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Got all my numbers. Can sleep early today d, cover at 3800 for 173pips w 2 hours work. Hope u all get some from that move. Trading not that hard if you know how to read your chart.

Added on October 27, 2011, 12:25 amReach my number 55 again, cant resist.

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This post has been edited by FxPlayboy: Oct 27 2011, 12:25 AM
FxPlayboy
post Oct 27 2011, 03:09 PM

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Good day, so the eu leader patch some shits up and up we go. 38 and 99 will be a level i'm looking for.
FxPlayboy
post Oct 27 2011, 09:11 PM

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np. Got my number again.

Here's one more bonus level for you bro=4160. It's thicker cauz it's quite a biggie level. Here's some tips: Think of a S&R level as a zone instead of a specific number, draw it with a crayon than a pencil.

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This post has been edited by FxPlayboy: Oct 27 2011, 09:17 PM
FxPlayboy
post Oct 27 2011, 10:50 PM

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QUOTE(mabsandcals @ Oct 27 2011, 09:56 PM)
We are at a almost 200 odd pip move biggrin.gif

are we poised for higher??
*
Why not? wink.gif Always be objective on both sides. Don't keep a long term biased. Have a what-if scenario on both side with the levels to target.
15p away from 4160, pretty much reach already, i give up the last 15p and took my monies.
Tmr friday, likely to be profit taking day.


P/S: if you're underwater holding short, just cut it off and go to sleep early.
FxPlayboy
post Oct 28 2011, 12:39 AM

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heh, u sure have balls of steel to short it when all TF is pointing up.
At this moment i tp @ 4215. not gonna chase and reload long anymore.

if u still long, trail it on the previous support.
if u still short, i hope the current high holds.

g9 lads.
FxPlayboy
post Oct 28 2011, 02:29 PM

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@mabsandcals
Be greedy when the market is fearful, be fearful when the market is greedy.
Won't be here everyday bro. Am just here doing a little contribution to fellow malaysian traders for those who asked in the earlier post. Didn't see much concrete contribution so i offer up. Also, you can pm/post your losing trade here. You won't learn most from winning trade but the losers esp the big one.

@wschoo26
Candlestick, basically price along some levels above and below. I done all of those stuff you mention, those indicators can make profits too but the RR ratio alot times lower. What else i havent cover?

@poks
Hint: Your chart is the best trading book. Some trading psychology book helps too if you're quite an emotional trader.

What goes up will not necessary goes down. A currency pair have 6 directions w each currency can go up,down or flat. Always look for reason to continuation first then consolidation then only reversal like Newton's law of motion.
FxPlayboy
post Oct 28 2011, 06:53 PM

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Yes poks is right, chart and candlestick pattern and all that basic tech analysis. S&R? How about you look to the left of your h1, h4 chart for some details?

You sounds very green bro, invest an arm and a leg w/o knowing the basics are really risky and wont be around long if you don't put in some serious screentime & hardwork. Maybe u shud go over babypips again. I hardly elaborate further if i don't see dedication and commitment cauz most traders wont be around next day.

You might not get the whole picture now but over time as you learn and gather up puzzle here and there, one day everything will make sense. If you stalling for a long time, you can always come back here and ask.
FxPlayboy
post Nov 1 2011, 12:10 PM

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QUOTE(dillmac @ Nov 1 2011, 11:46 AM)
Hi everyone, good morning. I'm new here, as you can see from my post count, haha.

I've been following this post for the past weeks. I really want to be a successful trader, so I got a live account last week. I've been practising for almost 3 weeks before opening my live account.

And man, now I know what some people meant by trading forex is not easy. It's quite challenging, but it just makes me all jolly happy when I win some pips. That's when it starts to get ugly, I became greedy. I started putting in larger lots everytime, went against my exit strategy, then I lost. Every start of the day I will win, then at the end of the day, I will be in negative.

Currently I've lost more than 90% of my starting capital, which at first I was quite emotional about. But then I realize that I need to get back my capital. I'm still very pumped up on trading, I won't give up.

So, I've thought of some strategies. Currently, I'm trading short term, with only MACD and Bollinger Band as my guide, and also observing the price action. I also do draw lines to see where the graph is heading, mind you, I've been only using 1minute time frame. I do occasionally view 5m,15m time frame to see a bigger picture, but mainly I will use the 1m frame. I think my current strategy might have contributed to my loss.

I was thinking now, maybe I should move towards trading longer term. Longer term in my definition would be from 1-4 hours max. I like control over my trades, so I would be wary if I want to go longer. I also like to trade on a naked chart as I believe that too many indicators will only confuse and slow down my entry and exit point.

I would love to hear some advice from everyone here on a long term trade strategy. How long do you normally hold your trades? What is the average number of pips you collect before exiting? What indicators would be best to use and how to use it the best? What time frames would be best?

I hope to hear on your experience.
*
Back to demo. You're killing your account with spreads. Try trade m30/h1, you will see less setup but generally more solid than lower TF. Set a min TP if u always take profit too early maybe 20-60pip.

There's no best but there's you good in something you know best. Find your own edge/personality that suits you best.
FxPlayboy
post Nov 1 2011, 11:44 PM

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QUOTE(poks @ Nov 1 2011, 11:03 PM)
i find it hard to believe that you guy going long at this current market selling situation...  sweat.gif
*
As long the setup is right and they trade the plan it is fine.
Last week super bullish, why you find it easy to believe to go short? lol. Recent fundie news trigger risk off - pretty much helped your trade riding it down. Not often we see setup like this, enjoy the ride while it still last guys wink.gif
FxPlayboy
post Nov 3 2011, 09:48 PM

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M Dragon is talking now, Q&A might surprise u again
http://www.ecb.int/press/tvservices/webcas..._111103.en.html

This post has been edited by FxPlayboy: Nov 3 2011, 10:01 PM
FxPlayboy
post Nov 4 2011, 08:30 PM

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QUOTE(poks @ Nov 4 2011, 08:38 AM)
@fxplayboy
*
lol, i know u're bored too heh.

QUOTE(jagged @ Nov 4 2011, 08:01 PM)
i'm totally new in this & i need to find a reputable platform that gives me an option to create an account with 1:1 leverage & $1 min deposit.
*
ah, u can get it from the local retailer fx counter at any mall wink.gif they accept coins too.


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Some updates:
German Chancellor Merkel says the G20 failed to agree on IMF resources
German Chancellor Merkel says hardly any countries in G20 have said they will participate in the EFSF
Greek PM is expected to outline plans for unity government ahead of vote
German finance minister says must continue course of consolidation and debt reduction


This post has been edited by FxPlayboy: Nov 4 2011, 09:09 PM
FxPlayboy
post Nov 4 2011, 11:06 PM

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QUOTE(jagged @ Nov 4 2011, 10:42 PM)
there's even a vow for forex... phewee
*
Save yourself those money and donate to charity. You wont feel greed or fear with an account worth like a mcd happy meal set. How about you demo like nemo suggest?
FxPlayboy
post Nov 7 2011, 07:06 PM

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QUOTE(poks @ Nov 7 2011, 05:51 PM)
eurusd looks more favorable..
building double bottom @1H chart..
bounced of flag bottom....  biggrin.gif

ahhh... everything is doing doubles  sweat.gif
lol... what a day....
*
You saw that too? rolleyes.gif
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Added on November 7, 2011, 7:14 pmuser posted image

If i trade H4, i'd look at this.

This post has been edited by FxPlayboy: Nov 7 2011, 07:14 PM
FxPlayboy
post Nov 10 2011, 12:27 AM

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QUOTE(jebonen @ Nov 9 2011, 10:03 PM)
anyone short eu.... just leave it.... 1.2839.... not so sure.. mmmmm....
*
nah... not gonna leave the long position money on the table, once i cover sure we can ride the short again heh
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FxPlayboy
post Nov 10 2011, 11:35 PM

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QUOTE(nemoexcel @ Nov 10 2011, 11:00 PM)
2nd chance to long AU & GU ... enter in dips. TP @ Pivot

will stay away from EU for now... not comfortable trading EU with the PIGS causing trouble
*
trouble only the market will move ma, market flat how to trade?

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