wow...just as expected..uber gap in UJ, EU and GU. EU eventually did turn back south. the train might have left, but the bus is still there

summary:
EU, GU - short
UJ - long

identify the R/S for entry, wait for the small correction to be over first.

that is, only if there's nothing else happening to the oil price, again. hopefully tonight the oil price wont get fried up again...

almost time now...lets see if the oil price can go down...and whether it'll affect the market sentiment...

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Added on July 14, 2008, 8:42 pmdamn the US market...frying oil again...

This post has been edited by small-jeff: Jul 14 2008, 08:42 PM


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got damn it...oil price struck back to 145....anyone has any idea where to TP on EU above 1.6000??? 145 resistant might not hold...before US market open, USDI already fall -0.557...

hmm..today could have high movement as well...good to hedge both position, see which one got hit?

This post has been edited by small-jeff: Jul 15 2008, 08:29 PM

ready for the roller coaster ride again guys...correction time's over...i hope

This post has been edited by small-jeff: Jul 15 2008, 10:05 PM

no idea..but EJ is also making the similar exponantial dive....

haha..yeah..i meant USD going down again..

ODL or GCITrading

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Added on July 15, 2008, 11:41 pmholy....oil dropped 10 bucks....holy...now i understand why people trade on commodities...

This post has been edited by small-jeff: Jul 15 2008, 11:42 PM

haha....ODL seems to be a good broker, but it has very limited historical data. GCI however, has a larger historical data, but it lack of tools, very lack of. ODL requires $300, while GCI requires $2000. However, must remember that commodity prices move very big...oil can move 100 pips (dunno what term they use) per hour. Like just now, oil price dropped 1000 pips in les than 4 hours..lol...really crazy...i think dont have $20k as capital also difficult.. tempting though

aih...only managed to gain a little from UJ's drop...lets see the oil drop would boost investors' confidence...oil..oil..everyone's looking at oil now...

in all major pair other than EUR/GBP, most 0.1lot (10k) 1 pip = ~$1 (bout $0.98 for UJ). EG 1 pip = +-$2

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Added on July 16, 2008, 4:18 pmdamn it...everytime when a position got opened, i got so paranoid and closed it after getting few pips..was shorting on UJ just now..8pips i closed already...if let it just alone..should have already hit my TP at 30 pips...damn it...

should i walk away, or should i stay?

This post has been edited by small-jeff: Jul 16 2008, 04:18 PM

anyone trading on EJ? seems like it might continue to go south after the small correction..but RSI has been staying rock bottom since yesterday...hmm...gonna set a short limit at 165.48..

next big thing is..."USD Fed Releases Minutes, Forecasts from Meeting (JUN 24-25)" around 2am tonight

hahaha..volatile = good for scalping...so..you got look into oil?

oh...end of the USD's bear move..

hm...i draw slightly different from yours. On the channel chart, the channel i drew was slightly more narrow, smaller arrows are the reference points drawing the lines.

hm...as for better signal on smaller scale, i'm looking at fibo retracement and fanline. would be interesting to see the 23.6 and 36.4 fanline breaking.

cant use mt4 to draw...still in office now...

This post has been edited by small-jeff: Jul 17 2008, 01:19 AM


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IMO..since indicators are derivative of price actions, so it'll always be lagging behind the price. Unlike patterns, trendlines, fibo, gann, and EW, analysis are done by looking at the price action at first hand. Your successful trade would depend on your ability to analyse the price action. To me, i use indicators as a quick history reference, i usually place my positions based on price action. Though my success rate is still rather low kinda suck at TA but still, a lot of people here do make money using their sets of indicators, so...it would still depend on your own trading method.

just my 2 cents

wah...just got back home...tired like hell...placed position, go sleep first...hope fully when i wake up..all close with green pips

This post has been edited by small-jeff: Jul 17 2008, 10:00 AM

hm..quite a big lost last thursday...spent the few days thinking of what went wrong...then i realize its the same thing...it's not that my analysis is wrong (if it's wrong, it wont touch my entry limit), it's that i'm gambling...sigh..

just like today, was aiming for a recovering USD, placed positions, got profit. Then i went gambling on to try to catch the ride on the same hour, and ended up panic and cutting loses.. then i spent the next few hours trying to gain back what i lost, which were suppose to be my 2nd round... aih...luckily still can get my daily target...

hm...must get the placing position table done asap...that might can stop myself from gambling...

btw...the GC seems like got very nice patterns ya...very nice channels...

This post has been edited by small-jeff: Jul 22 2008, 11:34 PM

wah...everyone got good pips? was on EU and GU...gained back my 160 pips on the ride down..aih..opened a few positions..too bad a few positions kena SL... seems like the US report didnt make much of an impact..

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Added on July 25, 2008, 10:16 pmthis week able to recover the weekly's lost...phew!! and gain some profits...time to out for a drink have a nice week guys...

aiks..the price bounce back lower... ...should have stayed a bit longer...aih..better go for a drink

This post has been edited by small-jeff: Jul 25 2008, 10:16 PM

haha...gained big today ya?

heheh...also hope best thing coming...today learned another thing..that is: candlesticks dont lie

@mphpopular:
thought bout EJ makes me sad...today afternoon at office saw my position with 60+ pips, came back, saw it hit my SL with -12pips


there was a contest for mini acc in fxcm...look at the mini king's result

http://www.learncurrencytrading.com/images...June%202008.pdf

ooh...fxcm has trailing too...but didnt use it..lol...i'm using mt4 for charts analyzing..but uses fxcm for trades... gotto go out now..talk later..