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 Forex Trading Corver V3, How's Your Pips Lately? ^_^

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small-jeff
post Jul 26 2008, 11:21 AM

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QUOTE(billytong @ Jul 26 2008, 08:38 AM)
Well it did drop below 5700 as what being said b4. Green USD news is making euro drop below 5700.

Overall I still bearish to Euro.
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yeah, the european market seems to be weakening for the moment, while US market seems to be getting slightly more positive sentiments.

billy, do you look at Yen? The Yen seems to be weakening as well. For the time being, the overall outlook for the financial markets is something like: US>EUR>JP

hm...as for EUR/USD, it's still within the huge congestion zone from 1.5900 to around 1.5360, but still within it's upmove channel, but seems to be pressuring on the channel's support. The daily hammer on thursday failed to make a significant reversal as friday's bar ended with an inverted hammer. Next week's move might want to see if it tries to pressure on 1.5750.


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small-jeff
post Jul 27 2008, 08:44 PM

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On EU, i believe the correction on 24th and 25th is over. From what i see, the 23.6 fanline shows good resistant for the correction move. albeit a strong breakout on 25th, it still wasnt able to touch the smaller retracement of 38.2...strong pressure remains at the 50.0 level. the consolidation at 50.0 should be done by now, or early of Monday's market. Monday night's US market might see another bearish move on this pair. next target fall will be at the 61.8 level, at around 1.5583


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small-jeff
post Jul 28 2008, 09:07 PM

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hm..is today a public holiday? the market seems very sluggish

aah...i also made a checklist for trading. but somehow, i found it required too much time to complete the checklist prior entering position...lol..cause usually when i reach home, it's already 8pm sad.gif by the time i completed the list, it has already moved...but still..i found it useful, provided if i had enough time tongue.gif
small-jeff
post Jul 28 2008, 11:05 PM

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QUOTE(billytong @ Jul 28 2008, 10:38 PM)
Well close a 5757 short for 30pips, just only 1hour for this easy 30pips tongue.gif

Got about RM310+ today.
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nicely done there thumbup.gif i only made a pathetic rm10...lol...thought the market wasnt moving..so i closed it and watch tv

btw...i thought you were using a standard acc?
small-jeff
post Jul 29 2008, 09:47 PM

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aih...came back late today...only managed to make $12...how's everyone?

anyway, on EU, the price shows much pressure at the 38.2 (bout 1.5756), the price might be a good resistant in future. targeting next stop at 1.5583 if it manage to breach 1.5670 (50.0)


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small-jeff
post Jul 30 2008, 12:17 AM

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that's it...no more tv for me during trading time...damn it...
small-jeff
post Jul 30 2008, 08:55 PM

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hm...caught about 20pips on EU shorting...enough for today... biggrin.gif but the bouncing of EU and GU is surely strong...cant really see where the tick goes..

sigh..sometimes setting SL is sure a dilemma...to tight or to loose, that is the question.. tongue.gif

This post has been edited by small-jeff: Jul 30 2008, 08:56 PM
small-jeff
post Jul 30 2008, 09:13 PM

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billy,

nicely said. IMO trend formation can be broken simply by a news release. like most text books say, fundamental tells the sentiment, hence the trend, while technical tells where to enter and exit, while showing the history of the sentiment.

anyway, billy, wanted to ask you something. Do you set limit entry on both long and short just for safeguard?
small-jeff
post Jul 30 2008, 09:37 PM

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QUOTE(firecrac @ Jul 30 2008, 09:31 PM)
sorry for noob asking,
mind asking what indicator are mostly use ?
few common one ? atleast can study them for a beginner like me
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you can try to start with RSI, Stochastic and Moving Average. babypips should tell you what are those and giving you a better understanding.
small-jeff
post Jul 31 2008, 12:25 AM

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QUOTE(low yat 82 @ Jul 30 2008, 11:45 PM)
arrggg... i gamble again!!!

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it's hard to kick the habit... sweat.gif
small-jeff
post Aug 4 2008, 11:54 PM

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hello guys... biggrin.gif

hm...EU is chopping on a super nylon board...better look at GU for the time being...
small-jeff
post Aug 8 2008, 07:15 PM

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wow...European market is doing worse than i thought i would be...nothing i know of can be applied... sweat.gif time to go back to school.. lol...macroeconomics, anyone? tongue.gif
small-jeff
post Aug 8 2008, 10:20 PM

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QUOTE(cyaoping @ Aug 8 2008, 09:17 PM)
@dr2k3 thx for the clue but still afraid it will continue go opposite direction

Enough for today. So many hours waiting and trade
Only can get 4 lots = 1+2+10+14=27pips

Too pressure on waiting time.
Curious, when ur guy waiting what ur guy doing?
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dunno bout others...i play online games while looking at chart.. biggrin.gif

Added on August 8, 2008, 10:22 pmdr2k3....you doing candlesticks too? biggrin.gif tried doing candlesticks on a 5M chart before? i found it to be quite nice to show entry exit point...

This post has been edited by small-jeff: Aug 8 2008, 10:22 PM
small-jeff
post Aug 9 2008, 01:58 AM

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QUOTE(dr2k3 @ Aug 8 2008, 10:23 PM)
ya....duno why candlestick just nice tongue.gif

i watch mutiple timeframe.........its nice on GJ only if u say 5min, on slow moving currency the chart is like crap
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ooh..dont really like to trade GJ biggrin.gif
yeah..i used it on multiple timeframe too. just that it's easier to identify where to enter/exit in a 5M chart, especially used with 1H charts...IMO smile.gif do you count ticks as well?

QUOTE(low yat 82 @ Aug 8 2008, 10:58 PM)
how's every1 doin right now? i jus scalpin around onli...  tongue.gif

Added on August 8, 2008, 10:59 pmcandlesticks r? uhuhuh... i onli noe d bintang type  tongue.gif  sweat.gif  doh.gif
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thought you were saying morning/evening stars biggrin.gif

hm..this week been up and down. actually the past whole month has been..must avoid trading news, made me lose like hell.. sweat.gif i think if i were to draw a chart for my trading, it'll be like a straight line of doji... rclxub.gif
small-jeff
post Aug 9 2008, 09:27 AM

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QUOTE(low yat 82 @ Aug 9 2008, 02:37 AM)
news tradin is a fast way to gain so pips... if u noe d way  drool.gif  brows.gif  brows.gif
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hm...pretty much agree biggrin.gif but i just hate it like what happened last thrusday for EU. in 5 mins its up bout 40 pips, then fall all the way sweat.gif i was shorting, but kena my SL sad.gif luckily can recover back last night... biggrin.gif

QUOTE(dr2k3 @ Aug 9 2008, 06:54 AM)
what do you mean by count ticks? volume?
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ooh..not volume. it's how much it ticks up compared to down. like...up up up, down down. or up up down, up up down. only works when there's no news around though tongue.gif

Added on August 9, 2008, 9:55 ama little bit of news to share:

Fannie Mae lost $2.3billion in Q2, while Freddie Mac lost $800+mil in the same quarter. Both of them are slowing down their loan purchasing. hm...credit market and housing still haunts the US market. Seeing how Euro and Pound drop against the Dallor, cant really imagine what's going on there. Wonder until when could ECB withstands the inflation.

This post has been edited by small-jeff: Aug 9 2008, 09:55 AM
small-jeff
post Aug 10 2008, 09:21 PM

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QUOTE(wodenus @ Aug 10 2008, 08:34 PM)
No really. Think about it, do you think any ECN will accept your micro-lot ? if no one wants it how does it get filled then ? it gets filled because the broker takes it. He knows 85% of the trades will be losers so if he takes the other side, he will have an 85% win/lose ratio smile.gif secondly the platform is in the complete control of the broker. There is no such thing as "regulation" is the forex market. Let's look at share prices, for instance. If the price of say 1 lot of PBB is say $15.10, it will be $15.10 with every share broker in the country. That is what regulation means. This ensures a level playing field for everyone. If you look at forex prices, you can see that for the same cross, there are tons of prices, all of them different smile.gif why do you think that happens ? smile.gif it's because there is no regulation. Even if they say they are "regulated" by whoever, it just means that they are registered. The authority knows who they are, so they can't close shop and run away. It doesn't mean that they won't go bankrupt, it doesn't mean that they can't put an unauthorized trade on your account, it doesn't mean that they will honor your stop, it doesn't mean that they won't raise the spread to 500 pips during news time. It doesn't mean that a sudden glitch in their charts won't lead to your making the wrong decision. How do you prove that you never made that trade ?

Which brings me to that very interesting point that a lot of these forex trainers use, that you're participating in a very liquid market. It's true that forex is a very liquid market, it's just not true that you're in it smile.gif if you're in it, then no matter what broker you use, they should all have the same prices, right ? smile.gif why don't they, then ? smile.gif
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hm..if i'm not mistaken, brokers (e.g. fxcm, odl, etc) get their profits through spread, just like those "registered" money changers. Regulated broker (if not mistaken again) is just being registered through a body (basically they need a large sum of money). Basically, brokers has nothing to lose. Either traders profit or lose in their trades, brokers still gain, cause they're profitting through the spreads that are applied. With the margin required, it will safeguard the broker, and sometimes the traders, preventing from being in debt.
small-jeff
post Aug 10 2008, 10:34 PM

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hm...if i could recall correctly. Huge brokers like fxcm deals with the bank. so, any positions you made will be directed towards the bank. I believe they would need to have some agreements first (between broker and bank). In addition, the broker itself must have a huge capital to safeguard all parties, including the bank. So, basically the broker just act as a 3rd party money changer.

What you mean by "the other side"? forex is a little different from stock. the principle of supply-and-demand is rather much different here. In stock, you have to wait for someone to sell, before you can buy. But in forex, you dont have to wait.

well..in case of the broker run away with your money, there's nothing much you can do other than making a report in the country where the broker is based. I dont know how much funds forex brokers are holding, but for those doing hedge funds in wallstreet hold up to billions of dallor.

wei wei..a bit OT here tongue.gif
small-jeff
post Aug 11 2008, 07:41 PM

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ooh oh...EU challenging 1.5000...not that good on European reports today. But the main reports are coming tomorrow. Interesting zones: 1.5000-1.4967
small-jeff
post Aug 11 2008, 09:04 PM

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...............stupid fxcm cant log in...missed the bear on EU and GU....should have stayed logged in...

Added on August 11, 2008, 9:39 pmdamn it...is fxcm's server having problem, or is it the damn streaming?????!?

This post has been edited by small-jeff: Aug 11 2008, 09:39 PM
small-jeff
post Aug 11 2008, 10:44 PM

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QUOTE(dr2k3 @ Aug 11 2008, 09:42 PM)
where got o.....EU n GU stable ler

no go down no go up
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look at 5M... sad.gif sad.gif
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