July 15th- July 20th

[daiello]

What are peoples thoughts this week on any pair?

I know its sunday, and the market just opened, but i am taking a quick short position in USD/JPY.

I read a few things over the weekend about the yen being was wanted to pay for oil instead of the dollar? I could be wrong, but i was also told not to worry too much as, its like paying bills with pennies, too many yen.

Anyway, since its really only me and you wolf, what are your thoughts for the up coming week.

[daiello]

Got out of my USD JPY short, as it ran up past my entry so i got into NZD USD, seeing that news was expected with high impact. I looked at the overall trend and decided id take the risk that the news was good, and i got lucky on this one haha.

[daiello]

I feel like talking to myself for a while haha.

I sold out of NZD USD for a quick 14 pips, so watching the 5-15 minute charts i decided to short USD JPY again. I should wait for the spread to tighten but ill try this out.

[Ciao]

I feel like talking to myself for a while haha.

I sold out of NZD USD for a quick 14 pips, so watching the 5-15 minute charts i decided to short USD JPY again. I should wait for the spread to tighten but ill try this out.

look likes you are right… ;) don’t talk too laud :D

by now, I was hoping to keep you company, but unfortunately I had to give up forex (before I even started) because I am still too busy trading over here and USA
as normally I don’t trade during the summer I thought to dedicate few hours to learn the forex….
I have to find a simulator that I understand and maybe find some time next month

Are those your real or simulated trades? Sounds like you doing well

Good luck … :)

[ForexWolf]

Howdy... don't have much time at this moment--but at the top of my list to watch----I'm lookin for the EUR/JPY to test from 168.00 to 167.00-166.50 area... EUR/USD to perhaps test to 1.3700 or possibly 1.3650...and $/CAD to take a retrace to 1.0550 and 1.06...but rising oil/gas prices may keep the $/CAD in sideways ranges. GBP/USD may come off its highs a 100 pips or so but I don't see any target yet for the Pound...

This is what I am WATCHING for--these thoughts go against the trend--so they are riskier and harder to call for entry/exit plays...

Trade safe and trade smart!

-w

[Ciao]

FXW
I see that you mention the EUR/USD to perhaps test to 1.3700 or possibly 1.3650

is it you thought to go short or do you see to came down to that ..

over here there is talk thet it could reach 1.40 the same persons estimate to reach 1.38 when it was at 1.35+

for info today I sold same USA shares and they give me the exchange at 1.37998

IMO at the mo it is more likely to retrace under 1.37 then go to 1.40
although I am not a forex player, I have to follow it because I buy/sell in USA with €

have a nice day.... :)

[daiello]

Well it didnt work out for me haha.

Down 136$ overall.

Seems i make one smart play, followed by a bad play.

I should probably hold longer, and widen my Stop loss range, as a play i was in last night just barely hit my stop loss and then shot upwards over my take profit.

Oh well, still learning.

[ForexWolf]

FXW
I see that you mention the

is it you thought to go short or do you see to came down to that ..

over here there is talk thet it could reach 1.40 the same persons estimate to reach 1.38 when it was at 1.35+

for info today I sold same USA shares and they give me the exchange at 1.37998

IMO at the mo it is more likely to retrace under 1.37 then go to 1.40
although I am not a forex player, I have to follow it because I buy/sell in USA with €

have a nice day.... :)


I think the EURo will hit 1.40 yes--august or september is the prime time for that IMO--I will be surprised if it breaks that level before August.. The pullback I was talking about is where I think the pairs will dip to this week before continuing with the trend..and those areas are the buy-in areas where I think I may wait for those to be breaches or hit before I take a trade.

Trading against a trend is much more difficult than trading with the trend--for every move there eventually is a counter move--and how MUCH that counter move is can tell you how well or how poorly you are interpreting the market condition. So unless circumstances present better trading levels and signals, I often will look for dip targets to enter in to to trade with the trend.. Occasionally I will takie a dip trade if I feel strongly about it--it can be a great way to short a pair and then long it and make money in both directions...but again trading against a trend can be haphazardous as it can turn on you in favor of the trend very quickly.

The area's I noted were dip targets which if they happen and occur will tell me I am reading the charts correctly in anticipating what they will do for the bigger gains.. Its looking for "confirmations" or validations--to help me decide and better read what is going on.. If it happens-0-great and I know I can fulfill my plans--if it does not--it causes me to re-assess and sit back to wait for an opportunity.. Keeps me from trading recklessly and without reason. Just a habit I have learned....

FXW

[ForexWolf]

Well it didnt work out for me haha.

Down 136$ overall.

Seems i make one smart play, followed by a bad play.

I should probably hold longer, and widen my Stop loss range, as a play i was in last night just barely hit my stop loss and then shot upwards over my take profit.

Oh well, still learning.

If a stop loss is just barely hit--try and figure out where you went wrong--did you place your stop too tightly for the pair (some pairs you need to have a wide stop loss), or did you place it on a Support or resistance or pivot line or other key market area.. If you can learn to identify such areas--it can help you better place your stops so you don't just barely get hit... I know how those hits can be--frustrating...but it offers you a learning method to figuing out the mistake so you don't make them again...

FXW

[daiello]

I put it ON the support line.

How much lower should i have put it?

Also, just made 4 plays with an average of a 10$ gain per trade, so my 130$ loss is now just 90$.

You want to hop in chat and talk, or are you busy?

[ForexWolf]

I put it ON the support line.

How much lower should i have put it?

Also, just made 4 plays with an average of a 10$ gain per trade, so my 130$ loss is now just 90$.

You want to hop in chat and talk, or are you busy?

If you can find or know the key support/resistance or pivot areas that are market critical areas--a good rule of thumb I use is to place my stop 10-15 pips BELOW support or ABOVE resistance etc.. Usually if it goes that much below or above an area--its gonna continue to the next level of S&R...but if its gonna bounce off that area--it will rarely go 10-15 pips below or stay under the area for very long..which will confirm the bounce.

I can chat a short while if you like...where is the CHAT function on this site?
FXW

[daiello]

Yeah i am not seeing the chat function here.

Do you mind going to the old board?

Picked up a long AUD USD at .87198, up 3 pips so far

[ForexWolf]

Yeah i am not seeing the chat function here.

Do you mind going to the old board?

Picked up a long AUD USD at .87198, up 3 pips so far

I am guessing the chat function is being upgraded and should be back soon....I thought there was one here but it must be down for upgrading.


I do not mind going to the old board to chat a bit.... see you there.

FXW

[daiello]

Exited at 5 pips for a quick 30$ or so

[daiello]

Good chat this evening forexwolf.

As for my short USD JPY position i am actually up 1.1 pips

Will keep this overnight, would like to see it hit my tp at 121.90

Catch you tomorrow bud.

[ForexWolf]

Good chat this evening forexwolf.

As for my short USD JPY position i am actually up 1.1 pips

Will keep this overnight, would like to see it hit my tp at 121.90

Catch you tomorrow bud.


nice to chat with you as well. Always open to chat almost anytime...in fact if more folks would like, I could arrange for a 'live trading chat' or a live chat discussion sometime soon...folks can get together in chat and talk about issues or trading stuff...or trade side by side with me on some of my plans, or advise on your plans. I'd be happy to try it if folks think it would help them figure out their issues and fix some problems they are having..

You should be at your take profit target now....for a WIN trade again. 121.85 right now...I believe I called 121.86. :)

scalping is fun--but trades take TIME to develop and rarely immediately do what we want. best trades develop with practice.

FXW

[Ciao]

FXW
Always open to chat almost anytime...in fact if more folks would like, I could arrange for a 'live trading chat' or a live chat discussion sometime soon...folks can get together in chat and talk about issues or trading stuff...or trade side by side with me on some of my plans, or advise on your plans. I'd be happy to try it if folks think it would help them figure out their issues and fix some problems they are having..


I will be more then happy and willing for a chat … at least I could follow you into it.. more then participate (my English it is a bit slow, specially typing it):(

and....provided you don’t do it when I am in bed sleeping… ;):D

good night to you.... full morning here :p

[daiello]

nice to chat with you as well. Always open to chat almost anytime...in fact if more folks would like, I could arrange for a 'live trading chat' or a live chat discussion sometime soon...folks can get together in chat and talk about issues or trading stuff...or trade side by side with me on some of my plans, or advise on your plans. I'd be happy to try it if folks think it would help them figure out their issues and fix some problems they are having..

You should be at your take profit target now....for a WIN trade again. 121.85 right now...I believe I called 121.86. :)

scalping is fun--but trades take TIME to develop and rarely immediately do what we want. best trades develop with practice.

FXW

Yeah nice call, it actually went down to almost 121.70

6 in a row!!

Be back tonight

[daiello]

Shorting the EUR USD!

Not sure how long the news last but i read great news for the USD, and i see that the EUR was WAY UNDER Forecasted and previous percentages for the German ZEW Economic Sentiment and ZEW Economic Sentiment even though they are mild and light impact.

USD 2 out of the 3 high impact reports today were higher than forecasted, also looked at the USD index and see that it may have hit a bottom and should start heading back up.

[daiello]

Stupid trade so far! like 9 green candles in a row haha. Dive dammit

[daiello]

WOW, thats the largest candle i have ever seen lol.