Stockmarket Trading, Forex, Commodities.

[Tmymaimee]

PCA, how can you possibly post here about my method when you don't even trade? No different than a buddy who's still a virgin, but who's watched some porn counsel his buddy about sex.

Once you've had a year of real trading and made over $1 million, then feel free to comment on my methods in comparison to yours. Until that time, you're worth nothing to anyone here.

[anon676545345]

Short GBP/JPY overall I'm bullish on this pair as the BOE will come under pressure to raise interest rates, and the BOJ is likly to increase attempts to devalue the Yen through more QE. I aim to target the bottom of the wedge then close short and go long on a longer term contract, will also reverse position if my stop is hit and we breakout to the upside.

[Paulo1]

JPY (DFB).png

Short GBP/JPY overall I'm bullish on this pair as the BOE will come under pressure to raise interest rates, and the BOJ is likly to increase attempts to devalue the Yen through more QE. I aim to target the bottom of the wedge then close short and go long on a longer term contract, will also reverse position if my stop is hit and we breakout to the upside.

When i look at that short its a bit weird to me. But i don't know your method and you could well be correct. What i see id daily trend up, weekly up and monthly up, So i would either buy into that trend or sell on a key reversal candle where other indi's line up. Another thing I noticed is your Stoc settings. Have you tried 14.3.3? if not give it go. Alot od Japanese traders prefer that setting when that use ichimoku (once look). Atleast you are selling resistance and not support

Good luck.

[Rimbuman]

for the record: the Hunt brothers went bankrupt, were fined and banned to carry out commodity trades. but they never went to jail.

Yes you are right, excuse me for being rusty on the facts.

[PCA]

Mr Professional Crap Artist (PCA)

All you can show is type script. Show some trades. Surely that's not tooooo much to ask? So I am the one laughing. Plus up another $120 right now waiting to close.

Like I said earlier. If you have nothing to say, say nothing. Plus, If you have nothing positive to add to this thread while you sit sipping thai whisky or whatever, best you get back to doing what you do best. Insulting people on god knows how many forums or paper trading. Perhaps Stimpy is another name for you or even Jack Russel, Get a life. Or perhaps try living one. Its amazing whats on the other side.

As I said before I was not talking to you at all until you came up with smart ass comments. However I know now that you are just penny jiggling, nothing wrong with that if you cannot better or whatever other reason there is that you have to trade laughable position size (laughable for somebody who claims that he has been trading in and out for more than 20 years). Might be that you are the one who needs another life.

I can show you every trade if you are trading against me but you can and dare not and we both know it.

.

[metisdead]

A number of inflammatory posts and replies have been removed.

[likewise]

To change the topic . Any outlook on Gold ?

[Paulo1]

To change the topic . Any outlook on Gold ?

Outlook on gold on what ? The 1 min, 1hr , 1 day, 1 week charts?

Bias is down and no trade at present.

[anon676545345]

JPY (DFB).png

Short GBP/JPY overall I'm bullish on this pair as the BOE will come under pressure to raise interest rates, and the BOJ is likly to increase attempts to devalue the Yen through more QE. I aim to target the bottom of the wedge then close short and go long on a longer term contract, will also reverse position if my stop is hit and we breakout to the upside.

When i look at that short its a bit weird to me. But i don't know your method and you could well be correct. What i see id daily trend up, weekly up and monthly up, So i would either buy into that trend or sell on a key reversal candle where other indi's line up. Another thing I noticed is your Stoc settings. Have you tried 14.3.3? if not give it go. Alot od Japanese traders prefer that setting when that use ichimoku (once look). Atleast you are selling resistance and not support

Good luck.

It's in a rising wedge which is a consolidation pattern as stated I expect it to break out to the upside but I've been trading that pattern this month, if we get a daily close above 17,300 I'll trade the breakout. I prefer 5,3,3 I don't pay much attention to overbought/oversold indicators but keep the stochastic up as it's worth noting if it's divergent to price I.E stoch is falling but price is still rising can indicate the move is running out of steam.

[Paulo1]

JPY (DFB).png

Short GBP/JPY overall I'm bullish on this pair as the BOE will come under pressure to raise interest rates, and the BOJ is likly to increase attempts to devalue the Yen through more QE. I aim to target the bottom of the wedge then close short and go long on a longer term contract, will also reverse position if my stop is hit and we breakout to the upside.

When i look at that short its a bit weird to me. But i don't know your method and you could well be correct. What i see id daily trend up, weekly up and monthly up, So i would either buy into that trend or sell on a key reversal candle where other indi's line up. Another thing I noticed is your Stoc settings. Have you tried 14.3.3? if not give it go. Alot od Japanese traders prefer that setting when that use ichimoku (once look). Atleast you are selling resistance and not support

Good luck.

It's in a rising wedge which is a consolidation pattern as stated I expect it to break out to the upside but I've been trading that pattern this month, if we get a daily close above 17,300 I'll trade the breakout. I prefer 5,3,3 I don't pay much attention to overbought/oversold indicators but keep the stochastic up as it's worth noting if it's divergent to price I.E stoch is falling but price is still rising can indicate the move is running out of steam.

Fully understand. If this breaks it should go around 600 + pips higher. D line for divergence.

Anyway back to trading.

[Rimbuman]

Cable fresh high, but will it last?

Price is captured in a nice wedge on its way to 1.7000 price level of 2009 where I expect price will find resistance. I'll be looking for a short opportunity and a possible break on the downside of the wedge.

[Paulo1]

Nice to see the USD/ CAD going up. Whereustay must be in the money by now.And PCA (professional crap artist) has crawled back into his cave for another six months. Whereustay pca?

Edited May 1, 2014 by Paulo1

[Tmymaimee]

Nice to see the USD/ CAD going up. Whereustay must be in the money by now.And PCA (professional crap artist) has crawled back into his cave for another six months. Whereustay pca?

Life is very good today.:)$$$$$$$$$$$$$$$

Only question is should I close out now for my 1 million baht gain in 2 days or wait it out...hmmmm....wait it out sounds like more fun.

[Paulo1]

Nice to see the USD/ CAD going up. Whereustay must be in the money by now.And PCA (professional crap artist) has crawled back into his cave for another six months. Whereustay pca?

Life is very good today.$$$$$$$$$$$$$$$

Only question is should I close out now for my 1 million baht gain in 2 days or wait it out...hmmmm....wait it out sounds like more fun.

LOL. Don't tell PCA. He was wishing bad things for us , More so you.

Close out half . cover in the money and let it ride ,NFP expected about 200k.

[Tmymaimee]

JPY (DFB).png

Short GBP/JPY overall I'm bullish on this pair as the BOE will come under pressure to raise interest rates, and the BOJ is likly to increase attempts to devalue the Yen through more QE. I aim to target the bottom of the wedge then close short and go long on a longer term contract, will also reverse position if my stop is hit and we breakout to the upside.

When i look at that short its a bit weird to me. But i don't know your method and you could well be correct. What i see id daily trend up, weekly up and monthly up, So i would either buy into that trend or sell on a key reversal candle where other indi's line up. Another thing I noticed is your Stoc settings. Have you tried 14.3.3? if not give it go. Alot od Japanese traders prefer that setting when that use ichimoku (once look). Atleast you are selling resistance and not support

Good luck.

It's in a rising wedge which is a consolidation pattern as stated I expect it to break out to the upside but I've been trading that pattern this month, if we get a daily close above 17,300 I'll trade the breakout. I prefer 5,3,3 I don't pay much attention to overbought/oversold indicators but keep the stochastic up as it's worth noting if it's divergent to price I.E stoch is falling but price is still rising can indicate the move is running out of steam.

Fully understand. If this breaks it should go around 600 + pips higher. D line for divergence.

Anyway back to trading.

Reversal candle? Rising wedge? Does all this shit make you actual money? I have no clue what you're talking about.

Just wait for a big pop, (.50% or higher) short the top and if it goes higher, average up your short sale price. So simple. Just be careful to go easy so you don't run out of money while it continues higher. Test your skills on a free simulator for 3 - 4 months or so to make sure you know what you're doing and its working.

Skip all the other crap. Read and read until you understand exactly what moves currencies. I read for 2 years before I started and I still read. Once you think you have grasp, go back to historical GDP / Employment / Housing etc. figures, read them, understand them and then decide where the dollar should have moved. Then verify with historical forex charts.

Its just as important to understand forecasted versus actual numbers. Try graphing these differences based on historical data then look for correlations with the historical currency graphs. Don't forget that trading CAD / USD figures are also impacted by news happening elsewhere around the world, as well as other major currency moves.

Another big driver are shifts in fiscal policy for long term direction. I like to trade short only because its easier to quantify CAD maximums then it is minimums. For example, now the CAD stands at .9088 for June '14 contracts. In the past, its rarely traded higher than 1.02 but can sink as low as .68 So obviously at .91 or so, shorting makes more sense for controlling risk than going long and having to cover all the way to .65 Either method works but your initial entry points would be a lower percentage of your capital if you enough to average in on a long to .65 than a short to 1.02

I also research expert opinions and also cross check their historical accuracy. There are some very educated and accurate forecasters if you do a bit of research.

[Tmymaimee]

Thank God I never followed PCA's advice last year or you wouldn't be seeing one of these over Pattaya later this year....

http://www.wacoaircraft.com

[Paulo1]

Thank God I never followed PCA's advice last year or you wouldn't be seeing one of these over Pattaya later this year....

http://www.wacoaircraft.com

LOL . You would have crashed with Professional Crap Advice (PCA).

Edited May 1, 2014 by Paulo1

[Paulo1]

#1605 from Wherustay is rated by myself as the best post on this thread so far.

.WHere is PCA? Hiding in his rat cave. Feeling like a fool today I bet...lol

[Rimbuman]

Thank God I never followed PCA's advice last year or you wouldn't be seeing one of these over Pattaya later this year....

http://www.wacoaircraft.com

Nice plane, have one or two of these on the side.

http://www.flynano.com

[Paulo1]

This is awesome , especially if you surf.

[Rimbuman]

This is awesome , especially if you surf.

Amazing video.

[Tmymaimee]

Well, it could have just as easily gone the other way, but eventually there will be some variable that will reverse the climb. That's why you don't want to go in too exposed at the beginning. You make more money when you average a short into a rising currency, however I prefer volatility as you can do very well just in daily movements.

[Paulo1]

Thank God I never followed PCA's advice last year or you wouldn't be seeing one of these over Pattaya later this year....

http://www.wacoaircraft.com

Nice plane, have one or two of these on the side.

http://www.flynano.com

Would love to experience that. i am adrenalin junky plus. How can I not be. From NZ. lol. Unlike PCA from mushy pea town. I visualize a cartoon when i think of a Professional Crap Artish/ Armish. lol

Where are you tonight PCA???

[Paulo1]

Well, it could have just as easily gone the other way, but eventually there will be some variable that will reverse the climb. That's why you don't want to go in too exposed at the beginning. You make more money when you average a short into a rising currency, however I prefer volatility as you can do very well just in daily movements.

Yes I understand what you are doing. Its scary to many simply because the reason most accounts blow up is because of a lack of funds. I think every 1 futures contract I need 10k to enter the market

[Rimbuman]

While we are at it, might as well scrape up some of these.

http://www.ivccorp.com/gallery.html?sortNumber=7&gallery=SurveillanceSub%20Gallery&skipno=0

[Rimbuman]

Well, it could have just as easily gone the other way, but eventually there will be some variable that will reverse the climb. That's why you don't want to go in too exposed at the beginning. You make more money when you average a short into a rising currency, however I prefer volatility as you can do very well just in daily movements.

Yes I understand what you are doing. Its scary to many simply because the reason most accounts blow up is because of a lack of funds. I think every 1 futures contract I need 10k to enter the market

Maybe with mini lots and a good plan, but will this work long term? There are those occasions that price takes a turn and don't look back for a long long time.

I'm not so sure and I do understand the reasoning behind this type of trading, but for me I like to stick with trading double tops and bottoms at resistance/support, pattern trading and so on.

[Rimbuman]

Well, it could have just as easily gone the other way, but eventually there will be some variable that will reverse the climb. That's why you don't want to go in too exposed at the beginning. You make more money when you average a short into a rising currency, however I prefer volatility as you can do very well just in daily movements.

Many Institutional's trade like this and most of them make money, this type of trading suits the way you like to trade.

Fortunately there are more ways that lead to Rome, and there are the scalpers, swing traders, investors, etc. I like scalps & swing trades and come home with 1-3% a day, and yes once so every often you get one between the eye's but that's calculated to 3% max in a day. About 2-3 times a month a day will make 5-10% + and makes way up for the blue eye day.

The way you trade does well for you, and the way I trade does well for me.

Edited May 1, 2014 by Rimbuman

[Tmymaimee]

Yes, but you're missing an important point. Only entering on a strong, almost instant upward move of at least .50% was well as researching then back testing for confirmation. Once you are all done with that, then practice trading on a simulator until you can make money consistently. It took me years, an MBA in the process and I'm still learning, even after making over $1 million this past year.

As far as capital, it all depends on where the dollar is trading and its practical maximum upside on a short. If the CAD was at $1.10 and has never traded higher in 100 years, your exposure is far less than if you were shorting at the .80 mark. I made the money from .99 and rode it all the way down.

I don't know what mini contract are but you can short 1 CAD and a .1 move will cost you $1000 in available capital, so you probably want something around $500,000 at a minimum to start. I'm just worried that a lower capital base could get you stopped out in a sudden reversal.

That happened to me last October when I was waiting for a funds transfer and Interactive Brokers liquidated half my shorts in a minute, then of course the dollar proceeded to reverse and I missed out on a $250,000 1 week payday.

[Rimbuman]

Yes, but you're missing an important point. Only entering on a strong, almost instant upward move of at least .50% was well as researching then back testing for confirmation. Once you are all done with that, then practice trading on a simulator until you can make money consistently. It took me years, an MBA in the process and I'm still learning, even after making over $1 million this past year.

As far as capital, it all depends on where the dollar is trading and its practical maximum upside on a short. If the CAD was at $1.10 and has never traded higher in 100 years, your exposure is far less than if you were shorting at the .80 mark. I made the money from .99 and rode it all the way down.

I don't know what mini contract are but you can short 1 CAD and a .1 move will cost you $1000 in available capital, so you probably want something around $500,000 at a minimum to start. I'm just worried that a lower capital base could get you stopped out in a sudden reversal.

That happened to me last October when I was waiting for a funds transfer and Interactive Brokers liquidated half my shorts in a minute, then of course the dollar proceeded to reverse and I missed out on a $250,000 1 week payday.

I was aware of that point and I didn't miss that, you are absolutely right about what you say about your strategies. It's just not my way of trading and to be fair I don't have that kind of capital available for trading yet.

I did say that I understand the reasoning behind your way of trading and I do understand you apply this where ever appropriate so you have proper capital management.

When we talk about mini or micro contracts on FX you can trade as low as a dollar a trade, this is far better than paper trading and so called backtesting. You can do forward testing on FX with micro or mini contracts with real results that can be realistically calculated in lots that you are comfortable trading.

It's also a great way for beginners to get started, paper trading to my opinion is useless because it is a artificial parallel with reality cooked up by brokers to make their future clients believe they can make money trading.

Way to go for you and keep safe.

Edited May 1, 2014 by Rimbuman

[ATF]

Well, it could have just as easily gone the other way, but eventually there will be some variable that will reverse the climb. That's why you don't want to go in too exposed at the beginning. You make more money when you average a short into a rising currency, however I prefer volatility as you can do very well just in daily movements.

Yes I understand what you are doing. Its scary to many simply because the reason most accounts blow up is because of a lack of funds. I think every 1 futures contract I need 10k to enter the market

Personally I would stay away from futures contracts in any shape or form. They are for pro traders who really know what they are doing. However one of the "secrets" of currency trading which may suit you better, and it suits me, is to buy or sell on FX cash margin. You can buy/sell an "unlimited" amount of currency with only your losses counting towards your margin. i.e. you have $30,000 in you trading account. You buy/sell whatever currency in incremental steps up to a total value of $100,000 (your total margin/buying power). Now unless you see a 30% move in that currency in the opposite direction (highly unlikely) you are not going to be wiped out. Sure futures will give you much more profit but potentially much more loss.

What's the prognosis on US jobs? Good - bad for EUR/GBP? Bad - Good for EUR/GBP?