hmmmm. hello people

All my positions now closed as per moved stops, a girl can't complain. After all I no make 'sisi' until i enter my positions for last night.

Are buying the $ now, see zoomed in chart of the index on 4h TF

Toks2008:

This is the funniest part of forex trading.

It leaves us speculating. Some may speculate a bearish trend while some may see a possible rangebound and some will tell you the bullish trend should continue.

Many times in the course of this euro bullish move i have seen very strong res getting breached and even yesterday euro pulled a stunt by breaking a strong supp that many traders will consider a sell confirmation just to zoom up again.

So my conclusion is that traders should just stick to a specific entry and exit rules no matter what they see on the chart. My swing trading method has gathered over 1000pips combined in all open positions as at the moment but if you ask me days ago if this will happen i will tell you a big NO because i have seen very strong res levels that ought to push euro down getting breached effortlessly. So price is definitely the king. Just follow it and have specific entry and exit points. This is why i chose to be swing trader above intraday trading.

Well said but we all hold different beliefs and no matter how it seems we cannot all hold same view points,just as your profit objectives are quite different from mine.In my opinion fibonacci makes swing trading much more interesting.

ayox2003:



Looking to go long on Dow, Nasdaq and S&P.




Frawzey

Egbon! Thanks for the head's up yesterday. I made some greens off it. Just wanted to be sure I was not alone. Only Australian index bleeped up by just 1 pip o, can u imagine, for a 0 day trade. Looking forward to do same for the bolded, hoping they are not stressed out from yesterday's marathon. Will be careful still.

opps! hope am not in the wrong thread? All na trading jorrr

Hmmmm, here's the UCAD, bouncing off support on the hourly. House, we dey buy abi my eye dey deceive me?

toluxa1:

Egbon! Thanks for the head's up yesterday. I made some greens off it. Just wanted to be sure I was not alone. Only Australian index bleeped up by just 1 pip o, can u imagine, for a 0 day trade. Looking forward to do same for the bolded, hoping they are not stressed out from yesterday's marathon.

opps! hope am not in the wrong thread? All na trading jorrr

It is well. That 1 pip is BOM scam.

About the AI's I'm mobile now, can't see any chart. So if I make it home before 2:30, I'd mail u.



Frawzey.

Watch how price touched 100% retracement level and the trend slowed down, note that its a daily chart

How many people survived this upsurge? Sure some people's acounts are bleeding hot blood thatis if de accounts are not wiped

'm sure stop loss was made for periods like this

ayox2003:

It is well. That 1 pip is BOM scam.

About the AI's I'm mobile now, can't see any chart. So if I make it home before 2:30, I'd mail u.



Frawzey.

No wahala, we dey together!

lari03: Well said but we all hold different beliefs and no matter how it seems we cannot all hold same view points,just as your profit objectives are quite different from mine.In my opinion fibonacci makes swing trading much more interesting.

Definitely many roads lead to fx success but price action is definitely the king

I can imagine the loss many traders would have incurred trying to sell euro and adding to the sell positions so whether you use fib to gauge your retracement or moving average to decide trend direction, price goes where it wants and we only have one choice. Follow it. No hoping and no wishing.Just choose one time frame for your entry and exit and use daily chart to detect the overall trend.

naijababe:


Well said, this is why we need to be dynamic and adapt to market conditions as they change. I was not in the habit of considering news in the past but that was in the days when economic indicators were as pure as they come, not these days of QEs, central banks interventions with their currencies as so on. Anyone remember the 1200 pips within an hour jump in EU/CHF last when the swiss central govt intervened ?

Yes Mam..... ...absolutely it was really a day in history so many account's were showing RED while some showing GREENNNNNN

But thank God i catch 800pips from that less than 2hrs spike

^ Gbogbo bigz boiz! Grin grin

Nasdaq already up into NY session

^ Rather than go long again on anything today, I'd rather close my workshop and go to the movies. Make no broker no kon use my money chop boli.

naijababe: ^ Rather than go long again on anything today, I'd rather close my workshop and go to the movies. Make no broker no kon use my money chop boli.

My Zombie Swing EA just banked another 4 set of 300pips at peace with positions still running. WOW!

http://www.myfxbook.com/members/ForexRefuge/short-term-swing/368753

We are likely to see euro test 13180 today. The weekly trend so so strong

these are periods where technical analysis, indicators and EA's g just de produce nonsense. EU is over bought on most indicators but it is flying up na wa o..... This QE3 na something else a sure proff that the market is influenced by fundamentals

just my 5 kobo

cheers

bond777: these are periods where technical analysis, indicators and EA's g just de produce nonsense. EU is over bought on most indicators but it is flying up na wa o..... This QE3 na something else a sure proff that the market is influenced by fundamentals

just my 5 kobo

cheers

It depends on the technical method coded into the EAs. If you use trend following techniques then you will make good pips at times like this and during whipsaw moves such EAs may not make jumbo pips. So there is every trading method for a specific pattern of price action.

And if you trade manually using ma crosses, you will not also regret it at this point in time so concluding that indicators and Eas produce nonsense at tis time is not entirely true.

There is a pattern your trend indicators like stochastic, williams range give in a lingering trend such as this and the fact that a trend is overbought on 1hr time-frame does not suggest a trend reversal.

If you go to daily chart using stochastic 100 10 10 settings you will see that euro is yet to even test the overbought region.

So try combining lagging indicators to your charts to get a clearer trend picture.

bond777: these are periods where technical analysis, indicators and EA's g just de produce nonsense. EU is over bought on most indicators but it is flying up na wa o..... This QE3 na something else a sure proff that the market is influenced by fundamentals

just my 5 kobo

cheers

Na so i talk am oh.Even Macd and Co Messed.

DOW no dey gree o,Crude is trailing behind

but we know economic events don't always align with indicators. indicators for me are just there as warning. there are also some indicators that flow with price action eg EWO. so combination of certain indicators can be helpful but not a holygrail.
my opi.

bond777: How many people survived this upsurge? Sure some people's acounts are bleeding hot blood thatis if de accounts are not wiped

'm sure stop loss was made for periods like this

My accounts suffered because the market broke all rules that i normally check before trading.. anyways, it's part of the biz... have to survive to face another day.

EUR/USD will go up on positive news.

But, it will also go up on negative news.

And also on no news at all

honeric01:

My accounts suffered because the market broke all rules that i normally check before trading.. anyways, it's part of the biz... have to survive to face another day.

That is the spirit.

Hey guys, just got back from class, to see that my EU is up 240 pips. thats the last lot that i am leaving.When it reaches 500 pips, or the trend changes, then i might close it.I just placed a short trade on the AU for the short term, my other AU LONG trade is still up, i intend for price to go down, touch the major trend line and return to the upward direction. So i can make some pips both ways.Also placed a SHORT trade on UCAD, lets see how price reacts. Remember, leave your last lot to run and maximize profit...

Take care.

kenny1984: Hey guys, just got back from class, to see that my EU is up 240 pips. thats the last lot that i am leaving.When it reaches 500 pips, or the trend changes, then i might close it.I just placed a short trade on the AU for the short term, my other AU LONG trade is still up, i intend for price to go down, touch the major trend line and return to the upward direction. So i can make some pips both ways.Also placed a SHORT trade on UCAD, lets see how price reacts. Remember, leave your last lot to run and maximize profit...

Take care.

I dey surprise o. I don't think that's a good idea sha

kenny1984: Hey guys, just got back from class, to see that my EU is up 240 pips. thats the last lot that i am leaving.When it reaches 500 pips, or the trend changes, then i might close it.I just placed a short trade on the AU for the short term, my other AU LONG trade is still up, i intend for price to go down, touch the major trend line and return to the upward direction. So i can make some pips both ways.Also placed a SHORT trade on UCAD, lets see how price reacts. Remember, leave your last lot to run and maximize profit...

Take care.

Just closed my SELL AU got out 24 pips profit. had to close the UCAD hit my SL but i am still looking at a place to enter SHORT again.
Just checked another account i had left for a long time now: the EURCHF, i placed that trade since April and the kept ranging till now and gbam!!! its now 147 pips in profit. Took a long time but since the Swizz central bank had said that they would vow to maintain the 1.200 psychological level, i placed that trade and since then left it only now to see it is in profit, it really pays to wait...enjoy...

namdo: but we know economic events don't always align with indicators. indicators for me are just there as warning. there are also some indicators that flow with price action eg EWO. so combination of certain indicators can be helpful but not a holygrail.
my opi.

The indicators we r referring to r the Traditional ones boss.

bond777: EUR/USD will go up on positive news.

But, it will also go up on negative news.

And also on no news at all

Now, this is the kind of silly "rule breaking" i dislike.

naijababe:

I dey surprise o. I don't think that's a good idea sha

Well, U might be right in some cases, but remember i am trading for the long term and i am adjusting my SL on higher TF.besides its the last lot.Say i started with 0.05 lots. when my profit is like 25 pips, i will close say 0.02, then when it reaches 50 pips i close another 0.02 and i leave the 0.01 to run.when i see another opportunity to place another trade i do the same thing.the most important thing is to go with the major trend.

whether custom indicators, traditional ones (if there is such... lol), EAs , etc are mathematical modelling using historical prices. so whether newly developed or oldie, what i think is that they are indicators and are guides, well i am not boss but been a little long in this thing.