EURUSD 200-pip rally possible! :)

[Trader02]

Originally Posted by Soul-Trader2004

gosh, do you actually read what i put?

i gave you the link
www.currencytradermag.com/ewse51.htm

OK, read the article and some of the others too.

Verdict: Same sh*t, different day.

I don't trade that way anyway and I'm not indicator heavy, in fact nowhere near it and I disregard ALL the crap about "consensuses" -- my focus is just on Price in the chart. As long as I have an accurate Data Vendor source, I don't give a damn who's drilling who or why.

Additionally,

when I was totally new to currencies, I lapped up CurrencyTraderMag like it was the best thing going. After about the 6th magazine, I saw a pattern to their articles:

complexity galore, interminable testing, backtesting, compiling this data, that data and what not.

I just said f*ck it.

No more.

Now I just don't read it anymore, just like I said I didn't receive the last 3-4 issues. I really don't want to bother with it anymore.

The systems they test would kill me quicker than a heart attack.

It served its purpose.

[Trader02]

Originally Posted by MickMason

Yup, every time this subject is raised



It's called probability not prediction.



With terminal boredom, for the past 10 years give or take.

Ok, let's say for a second none of this 'works', what is your alternative? An automated system? Based on what? Fundamentals? Momentum?

Mick, got the impression that you only trade GBPUSD? True? If not, what is your range of focus? And your experience if you did watch several pairs and tried to trade 'em versus focusing on just one (or 2)?

Same qt for you, Soul.

Thanks

[MickMason]

Yes seriously, a life sentence of Fib watching and trading spot! Trendlines not so much. I'm a trading simpleton, too many lines to watch and I get confused plus they never seem to help. My charts are dull, bereft of color and complexity, in fact I put on a colored ema or two just to brighten the thing up.

Sure like everyone I started out trying all different kinds of things, and still do when something comes along which looks interesting, but Fibonacci floats my boat

Returns are consistent, probably not earth shattering in the scheme of things but then I'm lazy and like to do other stuff, Ebay is a big distraction! About the only thing which throws me off course is pressure ie some client somewhere asking for faster returns, it's an account killer....fortunately theirs not mine.

interbank market scanner....tell me more!!

[MickMason]

Originally Posted by Trader02

Mick, got the impression that you only trade GBPUSD? True? If not, what is your range of focus? And your experience if you did watch several pairs and tried to trade 'em versus focusing on just one (or 2)?

Same qt for you, Soul.

Thanks

You're right, Cable mainly but when nothing else is moving gbp/jpy there's always something going on although it can be a bit fierce at times.

I seem to have charts up all over the place and if I see a setup then the actual pair being traded is academic to a degree.

How about yourself, eur/usd? If so is that just because of spread?

[Trader02]

Originally Posted by MickMason

You're right, Cable mainly but when nothing else is moving gbp/jpy there's always something going on although it can be a bit fierce at times.

I seem to have charts up all over the place and if I see a setup then the actual pair being traded is academic to a degree.

How about yourself, eur/usd? If so is that just because of spread?

Thanks.

For me its really based on DX, which I study often, at least every week, looking at the monthly/weekly/daily to see if my analysis is OK or flawed.

So,

When DX is strong, I play USDJPY, USDCHF & USDCAD LONG.

When DX is weak, I play EURUSD or GBPUSD LONG.

Then every now and then I get tempted by other goodies like USDNOK, USDZAR, GBPJPY, CHFJPY, EURGBP, EURCHF, GBPCHF, EURCAD

I haven't tabulated my results for these extraneous pairs but they pale in comparison to the basic strategy listed via DX.

With so many chocolates in the store it is hard to focus on just EURUSD although that could be a very smart thing to do in terms of "energy" savings.

Still learning and perhaps by next year I can settle down to just a 2-pair load.

[Soul-Trader2004]

check it out mick - http://www.interbankfx.com/trading_tools/ibfx_gps.php

stand alone app - can also get it at autochartist.com if you want to pay for it

its really cool, scans all pairs for chart patterns on all timeframes

[Trader02]

See updated chart below.

There is now a new line in the sand for the uptrend -- until further notice.

The lighter one was the former and the darker, the new uptrendline.

My stop is being placed right under this latest trendline, one millimeter under it. Never mind how many pips I'll lose if the stop is taken out. I'm playing for the bigger move and if its not there, then it doesn't matter, the call would be a dud.

One more millionaire comes in here yawning and tells me this doesn't work, that doesn't work, but then refuses to provide a subject that does work, is going to get a solid kick in the ass and thrown out on his ear. This is the kind of crap I got from that carboncopy bum currencia.

[MickMason]

Originally Posted by Soul-Trader2004

check it out mick - http://www.interbankfx.com/trading_tools/ibfx_gps.php

stand alone app - can also get it at autochartist.com if you want to pay for it

its really cool, scans all pairs for chart patterns on all timeframes

Thanks Soul, it looks like it could be really useful, I'm just downloading the free trial (cheapskate that I am )