My point is that if u are gonna come to ET and start promoting ideas or strategies u have to do your homework.. especially when u are marketing a prop firm. Many people that hang around here are seasoned traders.. doesnt mean they are making serious money.. but they know how to smell out the pikers. I frequently see you posting about these breakout type trades off key numbers.. or these standard deviation days. Please.. if u wanna hold a candle .. u have to show backtested or proven results. For every breakout trade that worked I can show 10x more that failed.. and for every standard deviation day I can show u how many of them ended up as reversals. When someone claims to be giving advice and they represent a legit firm.. they need to back up what they say. Problem is that this business has so many weasels that are telling others what to do.. when they dont have a clue what is needed to make money trading for a living. --MIKE
LOL.. ever hear of IB.. every futures broker in the world lets u place stops for any type of order. I think even OANDA allows stop limit entries and exits.. unless they also changed their policy. Also.. how do u guarantee a decent fill once the numbers are released.. u will be dog piled in the position and the broker might widen the spreads. If you go before the release.. than u are purely gambling. Jokers. --MIKE
Guess the keys are: 1) Your stops are indeed guaranteed after the release of the report since there will be a thin market to fill stops. 2) You guess the right direction of the market after the release. 3) The market doesn't whip around after or just before the release taking you out of the market on your stop. Seems like three ways you can lose and only the first one can maybe be verified correct before you execute your plan.
- If the usd is rallying into the number the upside will be limited BUT if the number comes out bad and the USD has rallied into the number the upside will be at least 100 to 150 pips. - you meant to say if the Euro is rallying into the number there might be upside limited ( in first part ) rest of what you say makes sense to me
USD continues to rally ahead of the US jobs report. basically a sell on the news event. Look out if it comes out worse than expected. remember these analysts have been wrong the last 3 months in a row. game plan looks like it is taking shape.
-First pullback to 1.2025 - 50 range should be an area of support. - gulp ... what if this area goes ? whats next line of support ? good action tonight in asia there was a brief test of a the 1st pivot resistance zone when it opened ... now testing the lower end funny ... I would have guessed pivot #'s for resistance as being higher than the highs ... we will see what happens when london time zone opens good luck with your projections in the am guys
watch in the corner of your eye ... silver if it dumps overnight it might force some gold liquidation and the Euro might draw some selling in sympathy