Welcome back GP …that was a great story…
I am watching ‘Lincoln’ on dvd…
Break time
Happy trading week!
That is great movie. Daniel Day-Lewis is phenomenal.
Check Out this video. This is actually quite good, this guy is market maker on the primary side but he really explains this area and why hedge funds dominate over banks. He does use the word trading but he always referring to the primary markets.
Great watch… Insider secrets from a Forex Bank Trader
First trade for the week. I changed a my color scheme. But same plan. Green is entry, Dark Orange is 1st profit, Red is stop loss
Bank holiday this side. So still enjoying the break.
Sorry for the late reply. Yes I share my trading with my wife and family. When you and emerald told me to close my positions I went to my parents room and told them about my decision and my Father immediately approved this idea as he told me that this tension is affecting my health so I must close it and relax myself and I did the same.
Its hard to remember as it was long time ago (I guess 8 months back) but it was 200 and 100 MA and the price has to cross both 200 and 100 MA and thats the entry signal. If I was late in the trade then I see if a previous support or resistance is broken and from there I enter the trade. If the price travels between the 200 and 100 MA than its a whipsaw and not a time to take a trade. It worked for a while but then I had so many negative trades because usually I was late in a trade and then it went south quite often. This is all i can remember.
Yes, but what’s worse is that it was not Bank Holiday in Scotland, so I was at work 
Thank you… Was it on a shorter time frame? I think that you would not have to rush not to miss a crossover when the MAs are used, say, on a daily time frame…
I was touched by your story, in the other thread… Your father is a great man… I hope that you can conquer trading and all your personal obstacles…
Watch this YouTube . Of course I’m not vouching for anything they are selling, giving away or anything else to do with this utube video. But he explains the problem with moving averages.
The problem with moving average crosses in my opinion is when they work they really work and traders get a false sense of security. So when they don’t work, some traders start to plan their trade around the cross and don’t consider anything that doesn’t fit with the cross.
I use moving average crosses along with other technical indicators, fundamentals, sentiment and volume analysis and a strict set of rules for each. If one of them is out of wack, I don’t try to make everything else fit, I look for something where everything fits, if I couldn’t find a trade that fits my method with the rules I wouldn’t trade.
However having said that, it is much easier said than done sometimes, especially if you’re new.
Hope the video helps
Gp
Hi guys been working all day, not much time for the markets today. I have no open positions at all. Looking at the USD/NOK that is a serious range. Volume tells me that it is looking at the up side. I have no idea on the fundamentals this week but it is quite clear that the US economy is sure about its direction with Yellen very hawkish. As Ukraine cools into oblivion the USD appears safe for now.
Carney has turned dovish on rates and will remain so till Q2 2015 at least. The market is ranging at this point looking at another break soon. So for now just watching on the side. Won’t be tempted into short term trades.
Hope you had a nice day at work yesterday The bank holiday was sh@@ any way. It is typical of London bank holidays, wet and gloomy.
FxPro USDNOK h4 thgwn | cTrader
Long USD/NOK all day. Logic behind this trade is that a lot of volume came in in a known support area, this pair is at its lowest since June this year and there are no fundamentals indicating NOK strength, Price is also trading very close to the the 200MA and is supported by a trend line.
Downside is that the pair is in a correction and is showing no real direction above the average. Any downward move will be sharp an aggressive, so may not be able to exit the position and would likely be stopped out. Also the AUD/USD just broke to the upside a channel, this could however be Aussie strength and not USD weakness.
Hi Emerald… Yes, I had a quiet day at work, which is just what is needed… I cannot comment on AUD/USD but AUD/NZD to the upside slowed down after news last night that a large dairy company from New Zealand agreed a deal with China to export baby formula (i.e. powdered milk)… This gave the Kiwi a boost, although through the London/NY sessions today this gain has slipped away…
There has been much movement in the Euro and Pound last week, but yesterday and especially today have been quiet on all fronts, including also equities (I am watching for a FTSE100 and S&P500 reversal)…
I hope that tomorrow, with several big-impact news coming out for the Euro and the US Dollar, there may be a little more movement in the markets…
Congratulations on your USD/NOK long, Emerald: it sounds like a killer!
I won’t say it is killer, it is a weak position, it is one of those big bets based on volume coming in, it could go horribly wrong, I have 40 pip stop on it but will exit if it goes south by more than 25 pips on good volume.
I am also looking at equities as well, NASDAQ, S&P are all at all time highs and it appears. Some stocks in my portfolio like Take two interactive and Activision are struggling at the top end so it seems like this week is big for marketing moving. I am nervous, should really have stayed out of the market but if you don’t risk sometimes you don’t win, risk control is key.
My trade today Entry will be between 50 and 60 Retrace. Stop loss will be at 70% retrace, 1st profit will be zero line. Based on the 4 and 1 hour charts, it is showing the down trend and in the distribution phase, pair is headed for a markdown. On 30 minute chart 3 MA’s crossed
Just saw it, missed all the action USD barely moved today, a lot of whipsawing he and there. I am in my position for the long hurl.
We shall see. Something smells fishy about the USD right now. The market maker ignored the good figures today. Either buying has taken place or something big is planned.
Ah yes. . .:33: the never ending pursuit of trying to figure out what big money is up to.
Hi guys, hope everyone is looking forward to the weekend, I know I am. I am still in my position, a break finally happened on volume for the USD. Will it last? I have no idea.
FxPro USDNOK h4 jCpwn | cTrader
Anyway this my only trade this week I am holding. The idea is start letting profits run, so no in and outs. Taking a page of Marty Shwartz (he had my problem of taking profits of the table). He reminds me of you GP for some reason, he is real solitary trader, making his profits in silence from home but as big as any of the greats.
Below is an excerpt from Kristian Kerr’s new weekly volume report.
[I]"USD/JPY touched its highest level since late January on Monday before pulling back over the past few days. Generally increasing volume since late July is suggestive of a budding uptrend.
“An increase in On-Balance-Volume during the same period further supports the burgeoning trend move higher. Declining prices over past few days on lower than average volume favors an eventual resumption higher.”[/I]
Weekly Analysis 29th August - YouTube
Weekly analysis from my point of view. Have a great weekend all. Thanks Jason for that piece. My analysis does say USD strength. Surprisingly the Aussie is making some interesting moves, so is GBP.
