Pippy5000
Legendary member
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here's what I do man.. I don't try to guess which way spot will move.. I only try to guess what will happen if spot does move to a certain place BUT only if it happens in a certain time frame.. Here are a few real world tips.. Most tips you get on trading sites are painfully generic and unhelpful beyond your first month of trading..
1. When the stochastic oscillator reads 93 on the 1hr charts you need not worry about talking heads.. not the band from the 80s, I love them, but the constant stream of traders telling you about USD strength or USD weakness and their essentially useless crystal ball opinions.. There will be an imminent reversal due to the simple mathematics of the market.. When Euro spot jumps up 250 pips in 6 hours there are a lot of buyers, but WHO IS STILL SELLING? No one.. ah.... now you get it 😉 ah and now the banks look at their margin and take profit... YOU RIDE THAT!
"Oh but hey Pippy.. if it were that simple bots could make the trades for you when the stochastic oscillator"
Yes, but bots have spikes in the reading at inappropriate times.. therefore they would issue bad trades.. It's really up to you to recognize when a really high/low stochastic oscillator reading is a buy/sell.
HINT: Are you close to s/r or not and what are equity and commodity markets doing? Have they already made their moves or is there room for just enough oomph to foil your FOREX trade?
2. TRADE THE DAILY RANGE
Just like it says you place a small bet that the range on the dailies will hold the first time.. Nailing a daily range trade (aka a double or more top or bottom) is a golden find.. LEAVE IT ALONE for at least 150 pips.. LEAVE BRITNEY ALONE! LEAVE HER ALONE! Don't outsmart yourself.. take the 25 or 30 pip hit and leave the damn trade alone.. nail just one of these trades per week and your margin grows!
3. Tell your loved ones about Pippy
Tell them that a hamsum man finally paid attention to you and gave you some attention..
1. When the stochastic oscillator reads 93 on the 1hr charts you need not worry about talking heads.. not the band from the 80s, I love them, but the constant stream of traders telling you about USD strength or USD weakness and their essentially useless crystal ball opinions.. There will be an imminent reversal due to the simple mathematics of the market.. When Euro spot jumps up 250 pips in 6 hours there are a lot of buyers, but WHO IS STILL SELLING? No one.. ah.... now you get it 😉 ah and now the banks look at their margin and take profit... YOU RIDE THAT!
"Oh but hey Pippy.. if it were that simple bots could make the trades for you when the stochastic oscillator"
Yes, but bots have spikes in the reading at inappropriate times.. therefore they would issue bad trades.. It's really up to you to recognize when a really high/low stochastic oscillator reading is a buy/sell.
HINT: Are you close to s/r or not and what are equity and commodity markets doing? Have they already made their moves or is there room for just enough oomph to foil your FOREX trade?
2. TRADE THE DAILY RANGE
Just like it says you place a small bet that the range on the dailies will hold the first time.. Nailing a daily range trade (aka a double or more top or bottom) is a golden find.. LEAVE IT ALONE for at least 150 pips.. LEAVE BRITNEY ALONE! LEAVE HER ALONE! Don't outsmart yourself.. take the 25 or 30 pip hit and leave the damn trade alone.. nail just one of these trades per week and your margin grows!
3. Tell your loved ones about Pippy
Tell them that a hamsum man finally paid attention to you and gave you some attention..
Tiger21Invest
Member
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Bearish news for the USD on Wednesday as Chicago Fed President Charles Evans said that it is too early to raise interest rates meaning interest rates will remain near zero. Also, Dallas Fed President Richard Fisher re-expressed his forecast that the US economy is in for a “prolonged period of sluggish economic performance.” Speeches today will be made by Atlanta Fed President Dennis Lockhart and Fed Vice Chairman Donald Kohn. Lockhart is going to speak about US and global interactions and Kohn will speak about the unconventional US monetary policy response to the financial crisis and within their speeches I would expect them to echo the comments made yesterday by Evans and Fisher, confirming views that the Fed plans to keep rates near zero. Further depressing the dollar, with rates so low in the US, and risk appetite increasing, investors can borrow in USD and invest in other countries with higher interest rates. A foreign exchange analyst at RBS stated yesterday: "The market is working against the dollar, which is the favored funding currency when equities are rising and you want to buy risky assets. We anticipate potential further weakness of the US dollar, and the euro is going higher."
RidderTrade
Experienced member
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good moring lads..
trader_dante
Veteren member
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If you could have told me this on time, I would have got short the Euro the minute I read it.
bangkokgee
Active member
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Sterling has yet to face the 1100 GMT BOE risk event but GBP/USD's outlook has already turned negative says BNP Paribas. The BOE could introduce negative deposit rates for commercial bank holdings and another GBP25B addition to QE might even be discussed. However GBP/USD has breached 1.6530 and this turns the outlook negative says the bank. GBP/USD now at 1.6490 from the day's high of 1.6567.
As dante said - it's time to buy!
As dante said - it's time to buy!
N Rothschild
Legendary member
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looks like my short call working out nicely 😀
N Rothschild
Legendary member
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gold getting a ****ing spanking haha
N Rothschild
Legendary member
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still holding euro short, short squeeze imo
Tiger21Invest
Member
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BOE will keep buying as much as 175 billion pounds.
Interest rates were kept at 0.5%.
FTSE 1000 was above 5,000 yesterday for the first time in a year.
BOE didn't cut the rate it pays commercial banks.
The pound was up on news.
Interest rates were kept at 0.5%.
FTSE 1000 was above 5,000 yesterday for the first time in a year.
BOE didn't cut the rate it pays commercial banks.
The pound was up on news.
