Euro Forex Pro weekly 24-28, May, 2010

[Rubin Hood]

Guess what!!! I do think it's a money machine and u'r analysis my lottery ticket

I am demo trading based on your analysis and with it i was able to double the account from 5000 to 10000 in just 2-3 days...

I'm not the expert here but if you doubled your money in 2-3 days you're probably trading too large amounts compared to the account. Look at Sive's statement ( Statement: 1075316 - Sive Morten ). It took months for him to double it. You can find 3 wins in a row there but the average isn't that rosy.

Your 2-3 wins could easily have been 2-3 losses and your account would now be completely wiped out. Be careful with your live account! Slow and steady & patient progress is the way to go.

 

[Mandrake]

Great movement yesterday. Too bad I wasn't around most of the time to trade. But looking forward to a strong showing for the rest of the week.

Yup Rubin Hood is right; in forex you don't always win. Making so much money in a few days is very reckless trading. but I guess how he trades is as how he describe it "Lottery Ticket".

 

[aerokan]

I'm not the expert here but if you doubled your money in 2-3 days you're probably trading too large amounts compared to the account. Look at Sive's statement ( Statement: 1075316 - Sive Morten ). It took months for him to double it. You can find 3 wins in a row there but the average isn't that rosy.

Your 2-3 wins could easily have been 2-3 losses and your account would now be completely wiped out. Be careful with your live account! Slow and steady & patient progress is the way to go.

I am using 3 lots instead of 1 lot all the time in this trade. Well, i opened a 10000 demo account and got it reduced to less than 5000 in less than 4 trades without using S/L and not considering sive's analysis. After that i changed the way i trade and always used S/L from there on. Out of the 28 trades i took afterwards, around 5-6 trades only crossed the one hour limit i set as the target. And the rest of the trades are mostly within the 15-30 minutes range. I look at CCI and R% for overboughted and oversolded conditions along with support and resistance levels before entering a trade. If they go beyond a certain 150 range, then i will generally enter the trade depending on the other factors. I watch M15 and M1 timeframes to make a quick trade in this hourly range. And yeah, I also look at hot times in the market where the volatility is high in the market and possible fast rides.
So far so good without much complications. Maybe u r right that i might not have faced many lossy trades.. The problem with live accounts is my emotions take control of me unlike demo accounts where i trade with discipline.. Quite ironic i guess

 

[bombermanpc]

hi, sive

when I look at your post for this weekend, around this week that the upward move will start after the pullback from the retracement. is it correct ?
is it going to make a new low first ?

 

[Vix]

Thanx Sive,

Do you happen to know if DiNapoli pack comes for Meta 4 too ? And do you have the link where can i buy it too ?

Thank you very much

there you go for free, otherwise you could go to dinapli page if you want original
this is the link Coast Investment Software Inc.

 

[Sive Morten]

Thanx Sive,

Do you happen to know if DiNapoli pack comes for Meta 4 too ? And do you have the link where can i buy it too ?

Thank you very much

Hi, Dori,
Vix is posted them below already, but I want to note that DiNapoli does not have their indicators for MT4 platform on his web cite. So, there is no pack that has been checked and approved by Dinapoli himself or his team.
Vix has attached some DiNapoli pack, but the quality of this pack is unknown. Taking into consideration that many signals come from different crossings - MACD, MA, Osc etc. the quality of indicators are very important thing. Be carefull.

We don't want to wear the expert down by repeating the same questions over and over now do we?

Thanks Rub

hi, sive

when I look at your post for this weekend, around this week that the upward move will start after the pullback from the retracement. is it correct ?
is it going to make a new low first ?

We can't exclude that. It is possible. But I do not like slicing and dicing very much. To look how situtation will develop is a better way, to my mind.

 

[Sive Morten]

EUR/USD Update, Tue, 25 May

Hi Everybody,
Now we stand at very important level - Weekly Pivot support 1. Market has reached it and bounced a bit. But, first we should to look at longer picture - daily time. There are two very important bearish signs. First - trend changing failure bar (three days ago) and second - dynamic pressure - trend turns bullish, but prices continue to fall down. It makes me think that new lows are very probable.
on 4-hour chart market has reached XOP target 1.2272, weekly pivot support 1 and 0.786 fib retracement level. This can make some support and market can retrace a bit higher. If this level will hold - then upside move become more probable , if not - be prepare for new lows. weekly XOP = 1.1968 nearest beacon.

 

[Vark]

nice call on that short @ 2550

 

[Sentinel]

B&B

Sive,

Could you please criticise this thrust on USDTRL? I am planning to try a B&B..

Many thanks..

 

[Sive Morten]

Sive,

Could you please criticise this thrust on USDTRL? I am planning to try a B&B..

Many thanks..

Hi, Sentinel
As you 've pointed,
I also do not like this thrust up. It's not very nice. But you can try, probably B&B will work. May be use lower lot and t/p closer than 0.618 will be not bad idea.