Forex Day Trader's Thread

[Masquerade]

It's all speculation at the end of it all however we choose to dress it up. I think some people make it too complex and forget what we're really doing when it comes to the crux of it.

 

[cpngtw]

It's all speculation at the end of it all however we choose to dress it up. I think some people make it too complex and forget what we're really doing when it comes to the crux of it.

ball and coin rule!

 

[Pippy5000]

true Mask... no matter how good you think you are it all comes down to guessing.. You can study charts and indicators and the general economy in order to help you guess better, but in the end you're still just guessing..

 

[cpngtw]

true that this is guessing, just try the best to get the odd on your side though

 

[Masquerade]

ball and coin rule!

Well that's clearly a method with an edge!

But it's just speculation and hoping to make decisions with a long run positive expectancy. It doesn't have to be such a complex science and edges are never going to be "that" great in a market in the short term. I'd bet someone using trendlines/stochastics/fibonacci/RSI/MA or whatever indicator they choose to use will not have much of an edge (if any) over someone who just looks at general direction and a few key levels.

 

[cpngtw]

I just mostly S/R & action

 

[Masquerade]

I just mostly S/R & action

Probably the simplest and most accurate thing around. It makes you wonder why people need to have all the other junk on their charts

 

[Pippy5000]

god dammit .. stopped out due to mysterious ****..

 

[N Rothschild]

told ya'll! nighty night

 

[Pippy5000]

1.6395 ought to be the next likely stop .. I'll try it again there

 

[Masquerade]

told ya'll! nighty night

Wait for me! I'm coming too.

Nothing exciting to see here for me - hopefully it's not 1.66 when I wake up

Good night, good luck and may the force be with you

 

[cpngtw]

Probably the simplest and most accurate thing around. It makes you wonder why people need to have all the other junk on their charts

well... each person has a different set of talents. A lots of people find it easier to use some set of indicators to smooth out the chart, or to signal some critical turning points. But indicators are lagging (hence the criticism from people not using indicators) and to use them you have to know how to combine them and using convergence/divergence and/or some thing else like S/R to make the right decision

I do look at few indicators but they are just to confirm my decision, not to make decision though

 

[cpngtw]

I'd short @ 1.6430

 

[Pippy5000]

wow.. filled again.. I have no idea what caused it to jump up 75 pips in just a few minutes while other USD pairs are standing still.. EUR/GBP is down a bit, but there's usually no volume in EUR/GBP in Asia.. might be a stop run

 

[Pippy5000]

that's 400 pips in less than 24 hours.. prob have a really hard time with 1.6425

 

[cpngtw]

yeah, either miss it or hit it with low risk

 

[Pippy5000]

nice.. up 22 and the second trade and holding.. I lost 35 on the first one

 

[cpngtw]

cool. I'm out, good luck man

 

[Pippy5000]

up 55 on cable.. going to bed..

 

[Pippy5000]

meh.. banking 57.. why risk it when there's so much upward mo