February Forex and beyond

Ok..

So you are saying if the +DI is moving DOWN through the ADX then it is your sell signal...

Gotcha..

I shouldve sold it again this morning when i got up...its all good though its early im sure something will pop up

NZD/USD about to cross lower on the 2hr and the 4hr has the DIs and ADX all coming to a point....looking for a dive lower here

sold at 69207....looking for 25 pips

Icemanti-

Yeah, man, could go on and on about the horrific economy and equally horrific leadership.

Best advice I can give is guns, ammo, land, and a f you attitude to people (elected officials) trying to tell you what to do and what not to do.

Lawyers,Guns and Money...

Funny i watch NZD jump all around the PP at 6925 for hrs and as soon as i get it breaks above it...set it and forget for now...ill be on if something happens...

Did you guys see that talk out of Iran?

That stuff about monday being some day they blow up the world?

yeah...markets love this stuff...hope im awake or around if something goes down

That was a big spike..

Risk trade seems to be working tonight.

Well i shouldve looked at the data coming out tonight or scanned other forums i wouldve read something...NZD popped for 30 pips in one min when the data hit...although it has pushed EUR/USD some too

All of this because of an Aussie employment number and the effect on counter pairs..

Short AU at .8885

I like it Wall...im good with mine as well.....i think...pulled fib lines and we should see plenty of action all around my entry level..id take a push higher here even and force me to dip in again

Good luck today everybody

I'm looking for 50 pips..this AU trade is a total snoozer, you have to buy too many lots to make it worthwhile.

fxinsider says look for buyers to step in around 8815 so you should be good soon....i see you almost got it on the first dip

Yeah I got within 5 of getting it, same with that Lb trade which went south by 400 pips..lol

They keep buying  back the USM and it props the AU every time.

I think I need the USM down 50 to catch that fill..

And there goes the USM rally..

Not sure what the rally is for, I dont see anything, just futures buying I imagine.

A nice 150 pt move off the low and the markets are only open 2 hrs..

lol

Out of the AU trade..

In with an EU.AUD at 1.535

I think I need to start buying larger lot numbers, I am up 60 pips on this EU and it equates to hardly anything profit wise?

Here comes the "rescue the markets" move we see about every single day.

Very interested in learning this market.  already started reading a few of the sites and getting myself familiar with the lingo, etc.  I am great with numbers and have already opened a play acct, but haven't jumped in that just yet.  Opened it yesterday.

How much time do you devote per day on this?  I was speaking with my guy who handles all our money market funds and he stated at "least 10 hours per day". 

More automated buying into the weekend here..how predictable.

I think most of us have learned from research and past experience in other markets. I dont spend 10 hrs a day, but you easily could.

If i could spend 10 hrs in front of my computer i prob would...but you can get away with just an hr or two...once you figure out how youre gonna trade its up to you on the amount of time to watch...

I can scan through the charts and see about how far out a cross is and just look again a few hrs later.....

Wall EU/$ crossing lower on the monthly chart...WE WILL  SEE at least 1.33 next week and prob test that key level at 1.26 b4 much longer...i dont know if i should cut this loose here or just ride it out?I wont be in any trouble as far as margin goes unless i go nuts buying lots but i really dont think theres any way we dont see the lower 30s here...any thoughts on the longer time frame charts Wall?

I got my pips outta NZD thx to rollover moving my avg up a few pips...sad thing is i had a chance to avg and coulda got out with as much as 50-60 pips holding 4 lots...

buck,

THAT is a tough question..to me it depends on where we think the markets are going and if the EU will have to bail anyone else out.

The more they bail, the more the EU heads towards PAR with the USD.

I have a feeling where you are at with this position and it only takes ONE to kill a years worth of gain..then you start wondering about abilities and repeat performances etc..

Looking at the chart it sorta looks like a bottoming formation, and I dont know if looking at a 5 year chart is helpful, thats how far a weekly will go for.

If the USM moves up..then I think you get out just fine..if the EU has to bail anyone else out or we go into a bear market then you could see the 1.25's you are seeing on the charts.

I am seeing plenty of support to these markets..nearly every day they come in and buy it off the bottom, they did several days this last week..I think the USM is being artificially propped up, they dont want it to stray too far past 10k..when it gets too far below the futures buyers come in and they motor the market 200 pts..

You have to decide how far you are willing to let this go and at what point you start to average into it..and what risk you are willing to take relative to your account.

im really not worried margin wise...i just dont want to average again and see it drop another 400 pips the next day....im gonna wait...i see 1.33 next week im might average there and if that doesnt hold 1.26 will be the next stop.Ive got to look at the longer term charts here and its about to cross on the monthly so unless we get a bounce to reject the cross in the next 2 weeks this is going to the 20s

Been following Todd Gordon on Forex.com, and on Twitter( which has a huge forex chat with lots of calls and info). This guy has been banking pips since the new year. He got around 750 on 14 trades in Jan. and so far this month he is around 350 on 8 calls. His strategy is wave counting. (Only thing I know about waves is they beat the shit out of me and my boat)......................Now is this guy that good or is he just getting lucky, kind of like a hot sports handicapper ??

Like Elliot Wave??

I followed it a bit last year and could not get the gist of it.

I will have to add him on twitter.