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May version 2.0 FOREX

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Posted: #51
buck,

Looks like a falling knive as does most of the USD charts, but the RSI and CCI is so seriously oversold it is worth a gamble down here.

You see the 4 hr chart on the Lb.USD? CCI is 183, RSI is 76, thats on a 4 hr chart. It hasnt been this high in a very long time, the move today was just amazing, man I wish i were on the other side of it.

I would choose the Yen or the CDN or the EU versus the LB or AUD for sure.
 
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Posted: #52
buck.. I was just in a micro, but that's all I can do (could do) for now. I just can't believe that the fucker never even gave me a chance. When you're down 200, you think it will drop. Then it goes to 400, it's got to come down again to 200, and maybe I'll get out. Guess every time I had a chance to take a kick in the balls, I turned just quick enough to finally get run over by a truck......
 
Captain
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Posted: #53
Just go back to a practice account SJ....you can ask them to set the practice account as a micro with whatever amount of $$$ you choose...ask them to set it a 1,000 and see how you do...
 
Wall i think i got a good entry in Cad here 4hr chart looks good to me...ill watch the Cavs game here and keep checking the charts just in case but i might let this ride another day or at least until morning..
 
GO CAVS
 
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Posted: #54
I just saw also the fxinsider is calling for sellers around 1.1460-75
 
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Posted: #55
I was reading tons of USD bashing all day long, talk about new long term trends developing blah blah.

To me if after the holiday that the market starts selling off, the USD will come back just fine.

Its amazing how terrible the USD is doing, just brutal.
 
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Posted: #56
Good thinking on that practice account, buck. I just didn't practice, and learn and listen enough.... Also, I guess maybe let my pride get in the way of my money, and didn't get out when I could have.
 
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Posted: #57
Just save up and try it again once you get more EXP....i said start with a micro with 1k cause i figured that wasnt very hard to save up...even if it takes months dont start with anything less...not that the amount is full proof but you can survive a good run against you
 
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Posted: #58
That's what got me buck. I couldn't survive that shitty run. It's still just hard thinking that from that second, it never got back lower than where I "sold"..... 
 
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Posted: #59
SJ i dont know if you ever tried to average up or what or when you entered the trade looks like it was around or b4 the 1st?....from looking at the daily chart i can see it ran from 1.31 to 1.34 back to 1.32 twice really from 4/30 to 5/7 .....it then ran up and down in a 200 pip range from 1.34 to 1.36....
 
Had you been able average in the first run you coulda got out with some profit or at worst even.....even if youd waited for the next run to 1.36[it went from 1.3350 to 1.3650 in ONE day 5/08] you coulda bought 300 pips and it dipped back to 1.3420s...again profit or even.....you have to have some sort of rule for averaging or set stops PERIOD...
 
You will have trades go against you no matter what method you use to trade you just have to have a plan that you use for each trade or a plan for just that trade...I average usually after 50-70 pips down...if the pair continues to move against me i will wait for something in the charts to give me direction...
Cad/Jpy moved against me huge but after my average looking at the daily i knew it was going to push higher DMIs crossed on the daily and weekly charts confirming a push....they[daily and weekly] then crossed to the downside,daily coming first which was our last buy...after the cross it dropped from 84 back to 80 this was after it was rejected from 86....600 pip drop in just over 5 days..5/11 to 5/18
 
 
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Posted: #60
Man I should have put in a limit buy on that LB.USD, I didnt know it would fall 300 pips last night, I would have been pleased to get out for a nice gain.

Now back up on the trade, but 1.55 would have made about 800 pips.
 
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Posted: #61
Nice trade there Wall
 
Holding Cad overnight paid off as well not as much but ill take it
 
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Posted: #62
Back down on the trade again.

My break even is 1.562 or so..it sure is a bottle rocket.

If the US markets get smacked I will get a nice move I am sure, if it bounces on these employment numbers, the reverse will happen and that LB pair will move over 1.57 again and quick.
 
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Posted: #63
So much for the LB weakness, right back over 1.57.

I read that their debt outlook was moved to negative and all it did was knock the currency 2 cents off year highs, what a joke.

And of course the US markets didnt sell off much, I should have taken a break even and ditched the trade. Now it has move 100 pips in the last hour.


 
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Posted: #64
Now back to 1.58

So much for a down US market and the credit rating of your country being put to junk to stall your currency.

USD retreating against everything yet again.


 
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Posted: #65
Sounds like the comments from the Treasury Secretary caused the USD to get hammered this afternoon and for me to get my butt kicked.


 
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Posted: #66
ugggh, the USD is so frustrating right now.  i took a big loss a couple weeks ago with the eur and gbp USD crosses.  right now i am short CAD/CHF, looking to get into the low 0.95's
 
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Posted: #67
i dont see anything i like in the charts
 
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Posted: #68
Strangest thing today, I turn on my FXDD Meta application and it was gone off my computer, then I try to get it back and my AV system says there was a virus.

So I had to reinstall the program and hope the virus isnt in the file folder.


 
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Posted: #69
Fxinsider just said they are short Eur/Jpy at 1.3160...this is a weekly strategy trade...
 
Looking at the daily chart isee the +DMI is just about to cross up through the -DMI...maybe it get rejected but we will have to be close to closing time to see...but to me it looks as if its gonna cross and at least test 1.35 no?
Wall,Pip,SJ...what do you think?
 
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Posted: #70
buck,

Did you get out of that CD trade? The USD keeps falling and falling and falling.

Regarding that short it has two resistance points which is good.

134.30 is first resistance, it is a quasi triple top going back to March, then there was the breakout 137.40 as another resistance point.

RSI on a 4 hr is a little early, CCI is 212 on a 4 hr which is good, but who the crap knows, it doesnt stop the LB or any counter US pair having it be even 500..lol

The +DMI isnt that high on a 4 hr, not really overbought, the -DMI is very low at 5.45, nowhere near to cross the +DMI or the ADX.
 
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Posted: #71
I got the the +DMI at 18 and the - at 19.. RSI is in the middle at 50....on the daily so i figured it would go up and maybe make that 3rd top there around 1.35-1.36....
 
I got out of Cad with 145 pips total...FXinsider was dead on he called for sellers at 1.1460...and thats where the drop started...
 
i been looking over the charts on and off last 12hrs and i dont like anything in USD pairs and i dont want to trade the others...
 
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Posted: #72
Man you got out luckily, US.CD down to 1.12 today, I wonder if the USD will ever bounce, it has been tanking for a month straight, just a spiral down down down, and against the LB it has been getting killed for THREE months with little breather.

My account is in serious jeopardy already, and to think I missed profiting on this trade by 2 pips..


 
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Posted: #73
Quote Originally Posted by bucknuts:

SJ i dont know if you ever tried to average up or what or when you entered the trade looks like it was around or b4 the 1st?....from looking at the daily chart i can see it ran from 1.31 to 1.34 back to 1.32 twice really from 4/30 to 5/7 .....it then ran up and down in a 200 pip range from 1.34 to 1.36....
 
Had you been able average in the first run you coulda got out with some profit or at worst even.....even if youd waited for the next run to 1.36[it went from 1.3350 to 1.3650 in ONE day 5/08] you coulda bought 300 pips and it dipped back to 1.3420s...again profit or even.....you have to have some sort of rule for averaging or set stops PERIOD...
 
You will have trades go against you no matter what method you use to trade you just have to have a plan that you use for each trade or a plan for just that trade...I average usually after 50-70 pips down...if the pair continues to move against me i will wait for something in the charts to give me direction...
Cad/Jpy moved against me huge but after my average looking at the daily i knew it was going to push higher DMIs crossed on the daily and weekly charts confirming a push....they[daily and weekly] then crossed to the downside,daily coming first which was our last buy...after the cross it dropped from 84 back to 80 this was after it was rejected from 86....600 pip drop in just over 5 days..5/11 to 5/18
 
buck, sorry for not replying back sooner. I tried to average once, but of couse, the minute I did, it started right back up and I bailed after losing 80 pips. I've got to really figure out reading and understanding the DMI lines. Also looking at longer time periods on the charts. I think when I got in that one, I was looking at 15 minutes, and thought I could get in and out with a few pips. I sat here and watched for about an hour, and that's what I meant when I said it never went down. I would usually just get out, but this time (of course), I decided to let it ride, and hoped I would wake up and it had hit my limit. I fucked up by not setting a stop. Like I said, I really need to learn the charts better, and go from there. You guys are all a great help, and I appreciate the time you spend. Guess it's gonna have to be like golf. I'm going to have to get rid of my bad habits, and re-learn my thinking on forex. Now, just where to start?
 
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Posted: #74
SJ just keep on in a practice account and set it up with whatever you would like to start with...id say 1,000.....or if you can save money faster wait until you got 2,000..even then start trades with one lot only
 
Next you got to have some kind of system to average or stops...i like to average myself...maybe because my system forces me to rather than the others that are more tech traders....but even then there can be trouble...just got to have some wiggle room...
 
Wall...i held CAD overnight and sold the next morning...
I shoulda jumped in EUR/JPY earlier,i coulda bought in the 1.3230s high was in the 90s....with the chart closing like that on a Fri i would bet we have a slight gap up for Sunday
 
 
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Posted: #75

Hey Wall i see the thread had been bumped up....WHYT come back or something?

 

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