Season's Greetings to everyone, If you check out our chart above, you could see price moving dynamically from left to right..we first followed it with our buy stop that yielded 30 pips, and the sell stop that yielded 35 pips.. The present buy stop @ 14705, 1st target @ 14730, 2nd target @ 14745, sl @ 40 pips away, is anticipated to yield 40 pips or so..more like chess. For readers of this thread, I want to say a big thank you for everything... To show my gratitude, I am giving out 2 e-Books titled 1 The Art Of Creativity 2 Fibonacci Trading - How To Master The Time and Price Advantage Merry Christmas and a Prosperous New Year, my friends..and may the New Year 2009 bring hope, joy,health,love,and success to all.
Boonga boonga,what? reminds me of Indiana Jones and Temple of Doom...hey king of diamonds, thanks for your hospitality..really appreciate it..howz kuala lumpur? The Russians said I should google their language, the Japanese, the Indians,the Italians,Germans,even the Peruvians tried to do me in but no online translation yet..like a frigging UN linguistic convention met..would be grateful if you could teach me a lil Malay, for the ones I know is virtually nonexistent..lol..going down to Singapore next year for some traders' conference but dont know whether the language barrier can get me past the airport...thanks once again, king of diamonds Helloo there,folks, Price made a BULLISH GAP on the start of the Asian session, and before we knew it, more than 40 pips was emancipated from our buy entry of 14705.. Even the 60% BUy WINDOW was negated as price on the GBPUSD dropped more than 200 pips afterwards from the TRIANGLE PATTERN shown above. Well, what can I say? Well, fxlion, maybe a lil positive mental attitude thinking might be in order?
Helloo moneyadd, thanks for reading all my posts...trying to make the time to read them myself..lol..fibonacci are great support and resistance levels that can be used in trading to ascertain price movement..but even with the knowledge of 'fibo'' levels, many traders still make losses..prefer the 60% windows which are more simpler and accurate in my personal opinion..remember KISS? Keep it simple,Smarty..so its about applying the right tools for the right markets...not all size fits all in trading.. If you check out our chart below,we used the TRIANGLE PATTERN, more specifically, the SYMMETRICAL TRIANGLE PATTERN. but why is it called a triangle? Because it looks like one..Triangles usually form part way through a strongly trending move and represents a congestive phase in the marketplace. These patterns are important because they are typically followed by sharp increases or declines in price. An established triangle pattern is a valuable signal prior to a relatively predictable price change. Yesterday, we made more than 200 pips from our symmetrical triangle which was part of our live practical trading. 1.4770-1.4576=0.0194 1.4651-0.0194=1.4457(target point) Symmetrical triangles,which are lines connecting peaks and troughs tend to converge at the apex which is at the centre of the pattern.When price breaks outside of the pattern, there is a high probability that the price will trend in the direction of the breakout.Once price hit our target for more than 200 pips, it now retraced upwards,. Our buy stop @ 14507 caught the bullish correction for 75 pips.. Price then retraced downward again to our previous short target of 14457, hitting it twice.. Before we knew it, price knocked 3 times and slipped downwards where our sell stop was on hand to take the move...''come to papa''.. So moneyadd, hope you now understand...actually, my clients dont really want to know the process or method in which trading takes place...all they are concerned with is whether we make money at the end of the month,recession or not..thats the primary objective..making money. sorry about that, jeff...try and look for a better and more honest broker...Even if you got the best strategy in the world, the choice of brokers is pertinent for the realization of your trading goals. [11:53:40 30/12/08] Stalion : no need to be confused....we put a buy stop on gbpusd @ 14550...1st target @ 14575..2nd target @ 14615..3rd target @ 14655 [11:53:44 30/12/08] Stalion : sl 50 pip away
Helloo needinfo,central bank intervention is the buying and selling of currency, foreign or domestic, by central banks in order to influence market conditions or exchange rate movement for fiscal or monetary policy purposes. Why should the Bank of Japan intervene for a strong dollar? Because it is to their best interests. Japan, as we all know, is an export driven economy and if the Japanese yen is stronger than the dollar, it hurt their exports and consequently their economy. Why import 15000 dollar cars from Japan when you can get it cheaper right there in America? Why import expensive electronics, computers,due to a strong yen, when you can get it cheaper from America itself, or even China or India? But wait..Japan is also a savings oriented economy, in which, majority of the US international papers or debt are held by it...So the Japanese are not thrilled to watch the value of their investments in the US bond,Treasuries and Capital markets go down the drain as the US dollar weakens.. The USDJPY monthly chart below shows the decline of the currency pair.. Compared to EURUSD(eurodollar), which is on an uptrend,a strong dollar would have a weakening impact on the euro, popularly known in international financial circles, as the ''antidollar''.. Even Trichet, the President of the EU Central Bank(ECB) might likely welcome the gesture of the Japanese with open arms, because a strong dollar would weaken the euro and save them the unsavoury task of slashing interest rates in the nearest future..You could do more research if it affects your personal finance or business objectives, need info..Did I hear someone say ''Don ichiban''? Let me whisk you away to the forex charts on the DISSECTION OF A TRADE GONE WRONG. Remember the loss was also important though the LESSONS LEARNT from the loss are MORE IMPORTANT. Now we are going into the reasons why we took a buy stop at that point.. A 123 bottom formation was observed prior to the alert given out, along with an inverted head and shoulder pattern forming at the bottom...Both are reversal pattern telling us that price is about to reverse from its downtrend to an uptrend. MACD also made a positive convergence to price which was a buy signal..For the our fib fans out there, a la moneyadd, price made a turnaround on the 30% window, instead of the 60% sell window..which is not that unusual given the strong trend downward in price.. So it was more of a matter of TIMING, rather than STRATEGY. We might be right in taking a trade based on what our strategy is telling us, but if the timing is off bat,we take the loss...In this instance, we lost 50 pips yesterday..the market is always right..quite an humbling experience, isnt it? So for today, wednesday, price finally came around and rocketed past our 3 targets like a valkyrie..technical analysiswise, our strategy was sound but the timing was off...price then compensated us with more than 105 pips..$105 minilot,$1050 standard lot on GBPUSD. HAPPY NEW YEAR FOLKS and we give thanks to God for seeing us through a bumpy 2008..WELCOME 2009.
If you are giving God the glory, then you shouldn't be violating the Terms of Service by redirecting web traffic without being a sponsor, you know???
Tradezones, I dont know who you are but I must remind you not to use the Lord's Name in vain, especially in settling your percieved personal scores..reminds me of the pharisees questioning about the letter and intricacies of Sabbath.. As long as am within ethical boundaries, my conscience is clear..A piece of advice, my friend...this new year, make it a part of ur resolution to be more positive, instead of looking for flwas in other people's business..it would help you in your journey, believe me...whether in trading or savings Hi radatats, I can see your chart was taken from the GBPUSD daily..The cable have been staring at its bottomless pit like a deer in front of headlights for months now. Like the picture suggests, GBPUSD has to break that upper resistance trendline before a reversal can be said to take place.. And by price closing above the No 2 level of the 123 bottom( where your 2nd purple arrow was), an uptrend can be said to confirmed in the midterm.MACD positive divergence to price can also be seen on your chart which foretells a probable bullish run. But remember, technical analysiswise,the trend is still down and traders are looking to sell at any good upward correction level. I see no changes..''Buy the dips, Sell the rallies''..ratatatata..thats just the way it is.. Tsk tsk tsk tsk...ur enjoying my threads and still trying hard to understand it all? Nice paradox, jehunter...believe me, ur not all alone...such is life...lol If one of your New Year resolutions is to invest in yourself positively and creatively, I'll be glad to help in that respect, mon ami..Please pm your email address so I can send it to you,ok..Thanks.. So for today, Friday the 2nd of January 2009, we are looking at GBPUSD 15 minute chart where TA wise, price is supposed to make a turnaround to the downside..while fundamentally, price is supposed to go up due to the lower expectations of the US ISM reports coming out 4pm Nigerian time.. so in less than 10mins from now, news is coming out...To Be Or Not To Be? TA or FUNDAMENTALS? we put a sell stop on GBPUSD @ 14515..1ST TARGET @ 14490..2ND TARGET @ 14465..14415... Also a BUY stop @ 14535..1st target @ 14575..2nd target @ 14515..3rd target @ 14655..50 pip sl
forexgreen, very smart to show only 71% positive trade rate, not an outrageous number like 90%, but not too low. Now if the statement was audited and certified by an internationally known firm, I think it might just matter. By the way, where are Mandel and Reaver???? The Ever Thinking This Is A Spam Thread VIPER
cool....please check your email box in some few hours,jehunter..And a tip..maybe you could consider WRITING your goals out for the year 2009..10 to 15 goals are okay..might be daily, weekly or monthly..just write it out and go through them regularly so as to keep focused,okay..Brian Tracy taught that strategy. shuo.. if i yarn wafi for you,you go ja..abi no be to gazu the kuza naim be the koko..google am whether you go understand wetin me yarn Yes it is,Strategist...The name is the CHART PATTERN RECOGNITION AND PRICE PROJECTION STRATEGY. I dont mean to brag, but its one of the best techniques any dedicated trader could use to be profitable in the markets..I get invited to speak on international traders conferences on this strategy..at least,thats shows how good it is. Though it is not 100% perfect neither is it the ''Holy Grail'',you can be rest assured that your trading performance would get the required EDGE to beat the markets,especially in the long term. Tradeviper,your venom is simply out of this world, you know..seems you really took the time to go through my performance report over the last 3 months of turbulent trading. Actually, I didnt even know it was up to 71%, so you must be a good statistician. You can manipulate the figures but you cant manipulate the graph of the detailed report.Check the graph below the figures again and see if they match.Even if alien extra terrestians fly down with their UFO to audit the report, there would still be doubting Thomases..so I'm not bothered. Look at Madoff..Are you trying to tell me that 'internationally known firms' didnt audited his reports over a decade before +$50 billion was ripped off? some say Steven Spielberg, who was one of the 'casualities', might get sued by Madoff for the rights of the pending Hollywood blockbuster film chronicling the scandal. I believe in honesty and ethics in my chosen path..Trading is a vocation where many are called but few are chosen.I've paid my dues and am still paying my dues in this industry,tradeviper..easy on the hiss,plzzz By the way, Who are Mandel and Reaver? Sounds like Beavith n Butthead? [09:30:38 05/01/09] Stalion : helloo fellas [09:31:09 05/01/09] Stalion : no news worthy item for Monday so we stick to our friday's short call [09:34:59 05/01/09] Learning_pips : hi stal [09:38:18 05/01/09] Learning_pips : its quite funny though in carolyn's book there is a mention of a gartley pattern which is a complete opp of the 1-2-3 pattern [09:40:45 05/01/09] Stalion : hmmmm....havent had time to read it myself [09:42:19 05/01/09] Learning_pips : its chapter 8, two step pattern..she identifies the 1-2-3 pattern/gartley pattern as a continuation pattern..quite interesting.. [09:42:46 05/01/09] blue : hi [09:42:55 05/01/09] Stalion : gartley pattern on fibonnacci? [09:43:05 05/01/09] Learning_pips : just goes to show how many ways patterns can be interpreted by different people [09:43:16 05/01/09] Stalion : helloo there blue [09:43:46 05/01/09] Learning_pips : basically fibs have to applied on the pattern to identify a cluster [09:45:03 05/01/09] Learning_pips : "The two-step trade setup is a zigzag pattern that corrects a prior trend" [09:45:09 05/01/09] Stalion : range/consolidation pattern? can u identify it on a chart? [09:45:44 05/01/09] blue : Stalion im new here [09:46:04 05/01/09] Learning_pips : basically the pattern is exactly the same as a 1-2-3 pattern but she says that its a continuation pattern [09:46:10 05/01/09] Stalion : cool....howz trading, blue? [09:46:26 05/01/09] blue : Stalion not so gud [09:47:18 05/01/09] Stalion : meaning d downtrend would continue? can you give us an example on a live chart? [09:47:24 05/01/09] Learning_pips : so according to her once we have points 1 and 2, we can apply fibs to identify a cluster where 3 would be and the price after it reaches 3 would continue its decline if we take 1-2-3 as a bottom [09:47:55 05/01/09] Stalion : how do you mean, blue? [09:48:35 05/01/09] blue : Stalion im bearing a lot of loss for past few months [09:48:36 05/01/09] Learning_pips : well there are numerous examples n the book, i am trying to establish it in the live charts..will keep u posted..any insights on today [09:50:41 05/01/09] blue : Stalionim so tense now a days [09:50:49 05/01/09] Stalion : whatabout strategy? [09:51:48 05/01/09] blue : Stalion actually i was just trading by my own mind and short trade with the stop but mostly i faced my stop hit [09:52:48 05/01/09] Stalion : as in, what is ur strategy in which you've been using all those while? [09:53:21 05/01/09] blue : Stalion actually i just watch chart with 1 hourly candle and its spread [09:59:07 05/01/09] Stalion : hey, dats not a strategy ,blue...just a hourly candle and spread? did you take any training before going live? [09:59:07 05/01/09] Maurizio77 : morning all - happy new year [09:59:13 05/01/09] blue : hi im from pak [10:00:13 05/01/09] blue : Stalion unfortunately im not trained and thts why im so tense [10:11:47 05/01/09] realjimmy : such a good day!!! you guys win?? [10:13:13 05/01/09] Learning_pips : no jimmy..missed it [10:17:03 05/01/09] Stalion : blue, in trading, you have to be trained for you are going against professionals that have been in the game for years and know what they are doing...its like a novice trying to play in the Champions League..no chance of winning if you are not aware of the rules of d game [10:29:49 05/01/09] Stalion : also using different free signals from different sources on ur live account is only asking to get blown out on margin call...no accountability or committment from both sides.. [10:34:59 05/01/09] Maurizio77 : reckon we'll be seeing a breakout on eur/jpy soon [10:40:46 05/01/09] Stalion : for euroyen, we put a sell stop @ 127.49...1st target @ 127.25..2nd target @ 127.08...50 pip sl [10:45:37 05/01/09] effendy40 : hi stalion [10:49:50 05/01/09] blue : Stalion wht wil be its buying stop [10:51:22 05/01/09] Stalion : well, for now, no buying stop since we are looking for eurjpy to go down in the short term...dats why the sell stop [10:54:14 05/01/09] Learning_pips : stal the eurjpy entry is 1-2-3 if i am not worng? [10:57:27 05/01/09] Stalion : 1st target hit on eurjpy..take half profits and move stop loss to entry [10:58:52 05/01/09] Stalion : the 123 pattern has already been fulfilled with the high at 128.49... [10:59:23 05/01/09] Stalion : remember different techniques as price moves dynamically,pips.. [10:59:45 05/01/09] Stalion : 2nd target hit on eurjpy! [11:00:19 05/01/09] Stalion : 41 pips made in less than 1 hour on a monday morning [11:00:27 05/01/09] Learning_pips : right..sorry realised that later [11:02:16 05/01/09] Learning_pips : i just checked, our entry point was at 60% sell window of the previous swing..nice! [11:04:55 05/01/09] Stalion : cool...great start to the week...and for the New Year.. [11:11:42 05/01/09] Stalion : dats all for today...tommorrow is another day...41 pips,$41 minilot,$410 standard lot on eurjpy... Helloo fellow traders, for today Teusday 6th of January,12.45 am, we put a sell stop on GBPUSD @ 1.4635..1st target @ 1.4605..2nd target @ 1.4575..3rd target @ 1.4545...50 pips stop loss..take half profits when +20 pips ahead then shift stop loss to entry point.