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/biz/ - Business & Finance

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249953 No.249953[DELETED]  [Reply] [Original]

Forex Thread: Goodbye March Edition

Basic info: http://www.babypips.com/school

Brokers with Demos:
Oanda
FXCM
FinFX (non US)
Dukascopy (non US)
Saxo Bank (non US)

*If there are any other reputable brokers that should be added to a new thread post them*

Major news for the rest of the week in pic, times in UTC
Additional news: http://www.dailyfx.com/calendar

>> No.250016

You have 10 seconds to explain why this is any different from gambling

>> No.250022

>>250016
10 seconds? i've got my whole life. And I don't have to explain anything, kiddo.

>> No.250029

>>250016
Gambling is completely random.

Trading is educated speculation.

Unless you think a currency's value is completely random, then I dunno, you're probably just an obstinate fuckhead.

>> No.250039

>>250016
There's at least one of these fucking idiots every thread

Someone post the fox and grapes

>> No.250050

Is Dukascopy as badass as rumored?

>> No.250056

>>250016

You don't have to pay commissions at a casino.

>> No.250063

>>250050
I knew a couple of guys in Europe that love them, but being in the US I've never had an account with them myself.

Also, I'm looking to short gj... my entry order keeps getting missed by a few pips though. Of course, as soon as I lower it price is going to shoot right back up to where my original entry order was.

>> No.250071

>>250063
If you're worried about a couple of pips, you're risking too much margin. Figure out your risk:reward ratio and give your trade room to breathe.

>> No.250082

>>250071
That's not the point... if I was worried about a few pips I wouldn't be trading a pair that has the largest spread of non-exotics.
I don't like moving my orders after I've come up with price points. That's a terrible habit to develop, especially on stops.

>> No.250093

>>250082
Then stagger your entry instead of expecting the price to hit exactly when you want, which is equally stupid.

>> No.250114

>>250093
My primary entry is slightly below my entry zone, I'm not shooting for a nice round number.
If it hits my entry then great, if it doesn't then so be it. I'm not that eager to position...

>> No.250181

>>250114
...and we're off. Didn't need to move it at all.

>> No.250212

>>249953
>>249953
how easy is it to make money with forex, can I really get 10,000 and invest it and make $700 ebery 2 weeks?

>> No.250392

>>250029
Why do you think you know better than billion dollar institutions and PhD mathematicians/quants/analysts?

>> No.250463
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250463

>>250392
>Lol he thinks this is the algo dominated baby stock market

hahaha oh man

>> No.250573

complete forex amateur, want to get into it... any advice on where to start, good books or anything i can read or general direction to go in

>> No.250584

>>250392
I don't need to know more than them... All that matters is knowing enough to make decent money, and I think I've more than proven that over the last few threads with the trades I've posted.

>>250463
To be fair, there's a ton of algo trading that goes on in forex, but the only way to make money that was is really by being a major bank like GS that has direct access to LIBOR.

>> No.250723

>>250573
Did you already check out babypips?

>> No.250805
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250805

>>250392
Where the hell did you infer that from? You don't need to 'know better' than the market makers to follow a trend. Banks may manipulate the price for their own gains, but ultimately the economy is determined by the consumers, and with enough data, the true value becomes obvious.

>> No.250812
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250812

>>250584
This isn't the baby stock market where a mere 5 million can move price.

>He described how he could push stocks higher or lower with as little as $5 million in capital when he was running his hedge fund.

http://en.wikipedia.org/wiki/Jim_Cramer

Making money in Forex doesn't require beating algos. I don't get why people think this big bad market is coming for your 500 dollar retail account. Save the manipulation talk for stocks.

>> No.251434

>>250016
There goes the whole fucking thread.

>> No.251711

ive been using etoro to demo trade how terrible am i? reccomend be a good demo forex trader (UK fag here)

>> No.251741

>>251711

Good demo traders are listed at the top. I recommend using FinFx. Unlimited demo with them.

eToro is a scam. I basically lost $1k with them. Shit hit the fan one day with a couple of positions, I tried closing them from my phone, and I got some "error", and it refused to close them.

The only good thing I got out of trading with them, is that their system helped me visualize how much I'm risking on each trade. That's about it. Just do not, DO NOT do live trading with them.

>> No.252502

Is the damn JPY going to collapse?

Apparently the japanese are buying gold like never before (physical gold sales up 500% in march) and I've read numerous things about how shit is about to hit the fan for Abenomics...

Would anyone smarter than I care to share his/her thoughts?

>> No.252517

http://en.wikipedia.org/wiki/Foreign_exchange_fraud

And I am gone, fuck you shills.

>> No.252528

>>252502
>the damn JPY going to collapse?
That'd be nice for me so everything is cheap there the next time I visit.

>>252517
If this is surprising at all to you, you're way too naive to get into investing.

>> No.252526

>>252517
>http://en.wikipedia.org/wiki/Foreign_exchange_fraud

>hurr durr nobody should invest in the stock market either

Pls go

>> No.252571

>>252502
UJ I'm long above 101.20. We'll probably touch 104 this week or the next. I'll see how it handles that resistance before going short.

>> No.252612
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252612

what do you think about this?
today i hit my stop loss on a selling position

yellow: price entry
red: stop loss
green take profit

>> No.253086

>>252612
Selling position?
SL below entry an TP above entry?

>> No.253278

>>249953
Forex: for people who dont under stand statistics.

>> No.253284

>>253278
Is there a reason you come in here then?

>"under stand"
Maybe before attempting to criticize people for simple math, try not failing at basic English.

>> No.253289

What do you guys think about eToro?

>> No.253338

>>253289
No experience with them. I've heard a lot more bad than good if that helps any...
Isn't their big selling point just the ability to tag along on other people's trades? Seems a bit retarded.

>> No.253362

>>253289

Read my post here >>251741

>> No.253406
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253406

Short E/U at 1.3800

Slow as fuck not doing anything

>> No.253407

newbie here. anyone care to create some 4chan forex forum or something?

>> No.253419

Going long on the USDCAD at 1.1063. Tested resistance a few times now, thinking it's going to go bullish soon.

>> No.253437

>>253407
wut... is that not what we've been doing here?

Some extra standalone shit would not work. Not enough people and honestly it's almost bad enough here between people posting retarded shit about it being rigged or asking dumb questions without bothering to google.

I can only speak for myself but I wouldn't really bother with posting elsewhere. I have my own places already as I imagine other experienced traders have, and only post in /biz/ because I already happen to be on 4chan.

Just sayin'

>> No.253445

>>253437
Pretty much this

>> No.253477

>>253437
It was actually to screen off those faggots. But yes, point taken. Are you on forex factory for example?

>> No.253479

also, why is mbtrading not in the reputable broker list? lastly, anyone using jForex (from Dukascopy)?

>> No.253491

>>253406
Waiting for the news on Thursday

>> No.253494

>>253477
Nope, just some private chatrooms. The only web based place would be here.

>>253479
I'll add it to the next thread, I just didn't have any personal experience nor did I know someone who did. That's why I added the bit about mentioning more reputable brokers in the thread.

>> No.253663

>>253491
The E/U has bee slow for a while now.

>> No.253685

>>253663
Yeah, it was crazy good yesterday for a Monday, on account of being the end of the month. But these past couple of weeks the market has reacted so weirdly to the news. I'll be focusing on other pairs more until we get a ECB rate decision.

>> No.253727

>>250114
Good on you for being disciplined. Biggest thing in this shit.

>> No.253735

>>250573
I've heard great things about babypips, but also check out FXCM and drop in $50. All you need for a micro account, which gives you access to all their premium educational stuff and lets you trade with the sting of real money being lost while not worrying about the amount. Use a demo account for paper trading for three months of practice.

Make mistakes, run your account dry, add $50, repeat, add $75, and try to tighten down any strategies you like. When you think you got it, start funding it like a DRIP stock account.

>> No.253967

Hey guys, do you know of any place I could go to to get a table that lists past interest rates set by the major banks of their respective countries? Something that maybe goes back 5 years or so???

>> No.253982

>>249953
Do you guys know of any good ECN brokers? I'm currently paying 5 dollars comission for each lot (100k usd). The execution is 10/10, but I'm wondering if there is any broker out there that can provide the same quality for lowest prices.

>> No.253995

>>253982
Which broker are you using at the moment?

>> No.254004

>>253995
FxOpen

>> No.254323

>>249953
Earlier, I've been the most comfortable with longer time charts, eight hours, one hour. Something like that.

However, I decided to check out the five minute charts, because I figured why the hell not - you can just scale your position sizing to fit anyway (as a retail trader, obviously, my money wouldn't really do that much), and they actually seem somewhat readable now. They seem kind of okay, and shit moves fast. Not too much, but it seems you could probably execute 10-20 pip trades with relative reliability, and complete them within half an hour or so.

I don't know what I'm even asking here, but I'll try to forumlate it better. Basically, is it worth it trying fifteen, or even five, minute charts (on a demo account - I have no live accounts, not ready yet) because you're getting impatient of the longer time frames? Is this sort of scalping reliable at all, or is are the risks just too large? I'd monitor the trades all the time, set stops and limits, but move it to break even as quickly as possible - is it possible to trade in just a few hours, and make as much on these short charts as you would the longer ones (I don't like the overnight aspect)?

Remember, I wouldn't be moving millions here, so liquidity and affecting the price is very very unlikely. Just chump change, really, but enough to get started on.

>> No.254498

>>254323
The risks are larger, but it is possible. The smaller you go, though, the larger a percentage the spread and transaction fee are. You also use a slightly different risk:reward ratio than with the longer, more stable time frame.

If you're still doing practice account, now is the time to experiment. Have you looked at anything for scalping?

>> No.254572

>>254323

I've been doing a bit of scalping, and been looking at the 5-15 min charts for entry points, while using the hourly chart to find my targets. It's worked out okay. Won some, lost some, but I think I've squeaked out a bit more in profits than in losses.

Now I just look for support and resistance areas on the H1 and H4 charts, find entry points on the 15min, and aim to take 20-40pips per trade.

You can scalp, but I've found having a nice consistent movement works best (take the AUDJPY movement over the past fucking 3 weeks for example). That pairing usually has a nice wave to it, go long 30 pips, then short 30 pips, but it's been on this fucktarded bullish crawl for a while now. Meh, probably in response to japs buying gold like it's going out of style, due to abenomics failing hard.

>> No.254645

>>254498
Well, now I'm using FXCM UK. Their interface is nice, everything's good except their spread, which makes any kind of short term scalping difficult. For these kinds of short trades, I'd ideally need some kind of ECN account, but I don't have that money to put up front. I'd need to find a cheap

Normally, my risk:reward is 2:1, so my limit is set at twice the stop. With these short durations, it seems that isn't really an option. 1:1 or maybe a bit better seems to be the best you can do, if you place your stops with as much room as you normally would, which wouldn't be too good a ratio for me if left unattended. However, I figured that if you monitored each trade, you would be able to let the winners run longer - typically, I set and forget. The main goal for me would be to move the stoploss to break even once I was sure (enough) that it wouldn't go back on itself, so that I wouldn't actually risk anything for a trade.

Also, the marigin requirements increase. If my stop is as tight as five pips, then I have to buy something like 600k (6 lots or whatever that becomes when converted to dollars) with the demo account (£50k) to get to my desired risk of 2% (£1000 loss). However, the marigin required for that is maybe three times higher than normally, since I need to buy so many lots for the same kind of pip value. It's not a problem, since the stop ensures that I don't go (much) past it and lose more than 2%, and certainly not the whole marigin, but still, it means I can do less trades at once. Then again, I'll only be doing one at a time, anyway, so it may not actually be a problem.

For a broker, I've been looking at FinFX, or, reluctantly CMC Markets Sweden. Their spreads are about the same (the smallest account for FinFx, CMC only appears to have one type), but CMC would do my taxes for me (deductions). If I became a more serious trader (0.1 lots), I'd definately move to FinFx and their ECN account, however, for now, the 0.1 lot minimum size is too large.

>> No.254705

>>254645
Excuse my shitty (lack of) editing.

>>254572
Yeah, 15m would probably be more resonable to begin with, anyway. As I said, I was just getting impatient. I noted the range that these 8h candles can go through, and decided to look at the really short (5/15m) charts. I figured that I might as well get in on the individual candle movements there, instead of waiting for one bigger move. Sure, I'd only get ~15 pips an hour/a good trade, but with a low enough spread that's all I need to make a few days a week, and I can just make the actual position sizing greater to compensate.

I have a question here, though, that I didn't have space to ask: I'm unsure of the position sizing. If I set the stop to say five pips, then my position size has to be huge (as I said), along with my required marigin. The marigin required would be way, way more than the 2% I wanted to risk, but the stop would ensure that it would sell at (hopefully without too much slippage) about 2% of my total capital lost. Is this the kind of thing that only works on demo and isn't very safe/practical to actually practice with real money, or is it a sound strategy?

>> No.254736

>>250029
>implying trading isn't even more random
Gambling has a certain number of outs and it's pretty damn fair.
The dealer isn't also trying to steal from me and then bet on me loosing.

>> No.254746

>>250029
>implying trading isn't even more random
at least in games like poker there are outs and it's a completely fair game.
Also the dealer isn't reaching into my pocket taking my money and betting on me to loose.

>> No.254828

>>254705

Looking at the wicks on the 1H charts should give you a rough idea of where the resistance is. Stuff like the 15M charts doesn't show support/resistance levels nearly as well. Also, I almost never put any stops on my scalps. Sometimes it gets volatile and suddenly goes the wrong way, next thing you know, 20 minutes later it's rebounded and hit your TP.

IMO too many people get stopped out because they place their limit too tight to their open.

And yeah, if you want to make money scalping, you either have to risk putting a larger % on margin, or you need a larger account size.

Personally, with my 20+pip trades, I'm setting aside roughly 20% equity on each position. There's been times where I've been wrong, and it's gone the wrong way 100+pips, but I wait it out, and it usually comes back to either break even, or I take a 10pip loss. Ones that went say, only 50 pips the wrong way, came back to turn a profit or break even every time.

Stopping yourself out too early is a problem a LOT of traders have (which probably explains why so many are unsuccessful at it). Mentally set aside a dollar amount for each trade. If I'm trading 1 lot (100k units), I set aside $2k for that position. It gives the trade plenty of room to breathe, and stops me from going crazy and opening too many positions.

>> No.254863

>>254828
Yeah, putting your stop too close is a risk. But I will put stops in. Trading without them is just asking to bust your account, isn't it? I have a decent idea of where to put them, though.

>risk putting a larger % on margin
Oh yeah, that's what I asked about.

When you make your money from such a small number of pips, 10-15 or even less on a 5 minute, you have to increase position size. This uses more of your margin. Let's say I used a whole 40% of my account for margin, but set a stop to end it when I lose more than 2% of my account, would I ever lose more than 2% (and some slippage)? I was putting up 40% (maybe these numbers are unrealistic, but just for the sake of argument), "risking" that, but my actual risk was only ever as far as the stop loss would allow it to ride - 2%. Would it actually work like that?

I'll keep with longer charts until I can get the right demo account, anyway. 8h charts have netted me okay trades, although not enough of them (another reason I wanted to look at shorter charts, I don't always have the motivation to check in only every few hours just to let them develop, and would rather get it over with in a few more intense hours).

>> No.254982

>>254863

You get the margin deposit back if that's what you're asking. You only gain and lose your unrealized profits/losses.

So setting aside 40% equity on a trade is not necessarily bad, if you're only losing say 5pips on the trade. The only risk with 40% deposits, is that you might open too many positions, positions might get closed early to free up more margin space.

But generally running just one 40% trade won't cause any problems whatsoever.

>But I will put stops in. Trading without them is just asking to bust your account, isn't it?

I only put stops in if I'm out and about. Say at my day job, at the bar on a thursday, etc. The rest of the time I'm able to keep an eye on my positions. So if I feel that it's going the wrong way, but going to bounce back, I'll leave it. If it seems it's just going the wrong way, and not stopping, then I'll manually close the trade. But like I said in an earlier post, I rarely run into that problem. I'm not totally against taking losses, but every time a trade's been in a really bad place, it has at least recovered a bit, so when I close I lose less money overall.

>> No.255169

>>253477
>>253477
>>253437
>>253407

reddit.com/r/forex

>> No.255174
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255174

>>255169
HAH.
He uses reddit!

>> No.255183
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255183

God stop responding to the trolls, it shits up the thread with the same stupid arguments.


EUR/USD

Still holding some light shorts at 1.38

>> No.255489

Anyone have an account with FXCM?
I just got hit with a margin warning when my account EQUITY is still in the tens of thousands?...
Got a message saying I have 3 days to deposit more funds or all of my positions will be liquidated.

First time this has happened to me, what gives?

>> No.255496

>>255489
I donno about FXCM but TDA wants 50% equity overnight for stocks on margin. Point is, read the fine print, contact them and get the specifics on what exactly you need to avoid margin call.

>> No.255505

>>255496
The way I stand I still have over 75% equity in the account... That seems ridiculous.

>> No.255507

>>254572
>(take the AUDJPY movement over the past fucking 3 weeks for example). That pairing usually has a nice wave to it, go long 30 pips, then short 30 pips, but it's been on this fucktarded bullish crawl for a while now.


Oh god I agree so much, i hate it beyond words.

>> No.255520

>>255489

Is your margin deposit greater than your available equity? I had a margin call on my demo, but a day later when my positions moved up, everything was good again.

But yeah, like >>255496 said.

Read the fine print. I know with fxcm.ca, they have a stipulation that if a trade loses 90% of its deposit, or if it's running at a loss for 5 days (weekends are included in the calculation, those fuckers...), it will close the positions on me.

They seemed like a good deal for an ecn broker at first, but that fine print is such fucking bullshit. Forex is risky enough, but those stipulations just make it even more ludicrous.

>> No.255521

>>255507

I think it's mostly to do with the fact Japanese people are buying up gold like crazy. They're thinking abenomics is going to fail, so the yen is going to get fucked. Just about everything paired against the yen is on an upward trend.

>> No.255526

>>254645
>reluctantly CMC Markets Sweden.
Why reluctantly? Something wrong with them?

Curious as I am about to go over to live trading and looking for a good broker (I'm swedish).

>> No.256734
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256734

You guys ready for the ECB news? I'm getting excited just thinking about it.

>> No.256774

>>255526
There's nothing technically wrong with them - in fact, I want to use them because they do your taxes for you. All you have to do (I mailed them about it) is to look it through and accept, and they'll submit it for you. This is great, because the forms (as far as I can read) require that you fill out every single trade, as well as the account currency to SEK exchange rate for the month, and I'm not sure that I want to get to all of this stuff right when I begin actually trading. Their support seem okay as well/they respond to e-mails and don't seem to try to be shady about their practices. Spreads seem decently low as well.

However, the problem I have with them is that their only platform is a browser-based flash-based piece of.. flash. No executable desktop version avaliable, but last I heard, they mailed me and said that they were re-making it in HTML 5 or something. Flash. Who thought that was a good idea?

Anyway. CMC Markets (http://www.cmcmarkets.se/sv)) , and IG Markets (http://www.ig.com/se)) are the ones that skatteverket explicitly says are exempt from submitting K4-forms, saying that those brokers automatically submit theirs, which is sort of true, all you have to do with CMC is (as I said, haven't asked for IG, not interested in using them) okay it, and they will submit it for you.

I think I'll just bite the bullet, so to speak, and use their shitty flash platform. Because I'm lazy and don't want to fill out my own forms. Will probably start another demo account, and see if it's workable. I'm more experienced now, so I could (hopefully) probably deal with it. I have to say that their platform seem well featured, and it even has (as far as I can tell - demo accounts can't use more than a single one) pattern recognition tools for you to use.

TL;DR web-browser flash-based trading platform. No "real" version avaliable.

>> No.256785

>>256774
Oh yeah, I wouldn't have quit CMCs demo on my own, but they were pestering me about not making any trades. I understand, I guess, but they gave me something like a week or two, and so I told them to just shut it down for now.

>> No.256791

>>256774
Just sign up for a MT4 demo account with someone that doesn't have a time limit.
You can do all of your charting and use your indicators on the demo platform and only use that flash platform for executing trades.

>> No.256798

>>256774
>>256785
Yeah the K4 sucks.

I read an insändare by a daytrader who had something like 2000 closed positions per year, and he just sent a yearly summary on one K4 form, and left a small notice saying "If you want full disclosure of the trades I'll happily send you the Excel file containing all 2000+ closes so you can review them." and apparently the skatteverket didn't contact him about it, but I want to do it properly when I start trading.


It's a shame they only have a flash platform, I'm going to check it out anyway. At least it seems like they have an app for appstore, based on the flashy graphics on their homepage.

>> No.257792

>>256734
Yeep, 2 more hours

>> No.257873
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257873

I hope y'all niggas went long on the euro.

>> No.257896

That was one hell of a news conference. I hit my target at 1.3800 almost immediately and then it plummeted to 3740! when Draghi mentioned QE. Fucking crazy.

>> No.257931

The euro right now:

https://www.youtube.com/watch?v=zIIHlKoyfwc

>> No.257981
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257981

>>257873
Went short on the EUR/SEK

>tfw 90 pips

>> No.258102
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258102

>>257981
>EUR/SEK
>90 pips on an 8.9 exchange rate with a 30 pip spread

>> No.258125

>>258102
99 euros after 13 euro commissions, not too shabby for less than two hours of monitoring

>> No.258130

>>258125
I guess I'll take my 3 grand and go home then.

>> No.258176

>>258125
>tfw student
>5k euro investment

Just trying to make the best of my situation here :(

>> No.258192

>>258176
2% isn't bad on one trade, as long as you don't blow it on the next one.

Don't look at it as investing though, that's a big mistake. Speculating/trading is not investing.

>> No.258204

>>258130
>>258130
>I guess I'll take my 3 grand and go home then.
>I hope y'all niggas went long on the euro.
lel

>> No.258211

>>258192
For me, if the investment doesn't yield money it'll yield experience and knowledge.

But I fully agree with you.

>> No.258454

>mfw my pending order didn't trigger because i >didn't count in the spread even though it was >pretty much perfectly placed
FFFFFFFFFFFFFFFFf
it was on gold put a buy limit to 1281.52 and the price perfectly touched it
FFFFFFFFFFFFFFFFFFFFFFFFFFFFFf

>> No.258700

>>258102
>30 pip spread
Jesus christ. Talk about getting fleeced.

>> No.258793

>>249953
>tfw when woke up too late and didn't get any good setups to trade

A day without trading is a sad day

>> No.259150

>>258176
Sorry, brah, wasn't trying to be a dick, but exotics are a waste of time and money.

>> No.259280

Newbie here with a couple quick questions.

Is it true the an almost entirely technical approach will yield good results, provided that the base model is sound and the trader has the stones to follow it? If so, what kind of percentage returns could one expect to see?

Also, when people say to construct your own model, what exactly does that entail? Would it be possible to "shortcut" the process with extra study, specifically this?

http://www.amazon.com/Mathematical-Methods-For-Foreign-Exchange/dp/9810248237
Thanks!

>> No.259322

>>259280

>Is it true the an almost entirely technical approach will yield good results, provided that the base model is sound and the trader has the stones to follow it?

Technical analysis works better on longer time frames. Less noise, better statistical significance. But longer time frames means you have to risk less due to greater overall price movement.

>If so, what kind of percentage returns could one expect to see?

That depends on the time frame and how much you want to risk.

>Also, when people say to construct your own model, what exactly does that entail? Would it be possible to "shortcut" the process with extra study, specifically this?

There's no model that will be 100% accurate 100% of the time. What you can develop is a profitable strategy based on your trading frequency and risk appetite. It's not even so much that you need to win more trades than you lose, only that you make a positive profit. You can lose 9 times out of 10, but if your 1 winning trade is greater than your 9 losses, that's a success. This is why risk management is equally as important as technical and fundamental analysis.

At the end of the day, trading forex is speculation based on predicting human behavior. It's highly erratic and unpredictable. Even when patterns present themselves, they can go against expectations because some Ewan McGregor mother fucking rogue trader decided to make a billion dollar trade. No mathematical model can anticipate a coked up trader making a highly risky trade, just like no actuary table can tell you how long you're going to live.

>> No.259382

>>259322
I definitely see what you're saying about how models never being totally accurate and totally agree, but I'm still a bit lost on how people develop their own trading rules in the first place.

There's more to it than staring at the charts and numbers all day and waiting for some miracle of understanding to happen, right?

They have to be taking some kind of measurements and keeping records, and compiling those results into something comprehensible, or at least that's what I assume.

For example, if some currency pair is rising/falling or what have you, is the next step to look at those countries recent news, or is it to look further back in the charts to see what kind of fluctuations were acting as an indicator for that rise? Or maybe it's both?

I totally get it if people don't want to share that information though, as it's completely theirs and they earned it. Thanks for the info!

>> No.259688

>>259382
Do you have skype and a mic. I will explain it all

Acroix70

add me

>> No.259853

Non farm payroll today...

How did you do on ECB yesterday? Made lodes of mone?Blew your account already?

I missed my entry by one minute thinking it was going to be low votality but atleast I didn't lose any money. Still kinda pissed at myself though.

>> No.259902
File: 52 KB, 1916x966, eurusdh1.png [View same] [iqdb] [saucenao] [google]
259902

>>259853
Made out well after his dovish statements.

1.37 seems to be the battleground currently

Not many buyers but pre NFP it seems to be holding.

>> No.260036

Inside info is hinting at a bad NFP number they will blame on the weather

>> No.260061

>>260036
so stop hunting?...

>> No.260069

>>260061
Maybe, maybe not really.

I tend to be on the sidelines when it comes to NFP trading but if something obvious pops out and I'm nimble enough, I might take something today.

>> No.260099

>>260036

>>260061 here
looking back at history data it should be a bad NFP number

>> No.260107

>>260099
looking back at what history?

Either way, the data is going to be fudged and then revised later. If you were forcing me to guess, I'd say initial numbers would look good for the USD, but trading the news is silly.

>> No.260113

Bears gearing up for NFP release? We've pricked below EU March's low...

My go-to song for news events

https://www.youtube.com/watch?v=YkADj0TPrJA

>> No.260122

>>260099
here fucking nailed it

>> No.260126

Huge drop in USD/CAD. Testing support of March low.

>> No.260129
File: 16 KB, 317x789, Capture.png [View same] [iqdb] [saucenao] [google]
260129

oh boy

100 pip candle, bounced from high to low several times before settling down a bit.

This is on the m1

>> No.260132

>>260113
Bears just bitch slapped the fuck out of that Euro spike.

>> No.260134

>>260132
But the bulls ain't done yet.

>> No.260140

Small miss on high expectations

hmmm we may regain the loss Draghi's dovish comments did to the Euro

>> No.260145

>>260140
My thoughts exactly. Hints at QE outweigh employment data in the longer time frame.

>> No.260151

>>260145
Well the catch with that is this

Shitty NFP may entice the FED to not taper as much or increase QE

>> No.260154

put a sell limit to today's pivot,next will be at today's S1 which happens to be at 1.3775 hah.

>> No.260157

>>260154
i mean R1

>> No.260163

>>260151
I doubt it. I'm thinking back to what Bernanke said about 6.5% target unemployment for when the Fed would start raising rates. We're almost there. We'll most likely see another bubble start forming in next couple of months and last through the end of QE, followed of course by the Happening.

>> No.260178

Looking at the market again, EU has already corrected to pre-NFP levels. Mid-term bearish trend still in play.

>> No.260181

>>260163
True and they are ignoring NFP. Todays action showed it. Any miss used to make the majors rocket. Easy to make money.

>> No.260325

>>260181
who /short gj/ here?

>> No.260349

>>260325
Eh I am not holding anything over the NFP weekend.

G/J seems to still be in an uptrend. A quick counter trend would be ok...but seeing how bullish it is I would be looking for a buy the dip kind of play.

Just my brief thoughts

>> No.260350

>>260325
I did yesterday. Whats happening? Haven't checked the charts today. Is it going back up?!

>> No.260356

>>260349
I agree. Yen crosses are finishing the week poorly but haven't reversed the longer bull trend. Abenomics is failing and the nips are buying gold like no tomorrow. Take your short term scalps and run while you can.

>> No.260358

>>260349
It just turned on the daily, this whole week should have been headed down but it took it's sweet ass time.

>>260350
nah we in full on tank mode.

I'd like to get another ~70 pips out of it before the weekend.

>> No.260366

>>260358
GL, volume went to shit.

>>260356
Ya any Yen pair its pretty much BTFD

>> No.260372
File: 28 KB, 384x384, 487362.jpg [View same] [iqdb] [saucenao] [google]
260372

>>260358
>70 more pips in 5 hours after the highest volatility point of the day

I like the cut of your jib, anon

>> No.260391

>>260366
>>260372
ids habening, hold on to yer butts.

>> No.260393

What are some good reputable broker/trading platforms for non-US residents? Does it matter? Or can I trade from any service?

>> No.260403

>>260391
Its profit taking before the weekend.

Watch them reload their longs on monday

>> No.260496
File: 20 KB, 1914x128, uwotm8.png [View same] [iqdb] [saucenao] [google]
260496

U WOT M8

>> No.260851

>>260391
>>260372
>>260403
told you id was habening... we 171 now! :>

If it gets to 170.80 I'm probably going to close out for the weekend and look to re-enter on Monday, otherwise I'll hold.

>> No.260884

>>260851
I made 100pips then it hit my TP while I was away. If I was at the comp I could've started trailing that TP properly and made more.

>> No.260907

Any thoughts about how high gold will reach before going to 1050-1150 area?

>> No.260921

>>260884
I ended up holding since it didn't drop to 170.80, I think I can squeeze out another 100 pips at least next week, though there will likely be at least a little pullback.

>> No.261244

>>260921
Well I'm out now, I'll look to catch it again when it reverses to go back up.