FOREX PRO Weekly June 04-08, 2012

Dear Sive,
I am considered new in forex trading & I start to follow you analysis about 3 weeks ago. There are some abbreviation (such as DRPO, LAL, MPP, WPP, MPR1, WPS1, B&B, etc) that I don't know what it stands for.
I may guess for MPP (Monthly Pivot Point?), WPP (Weekly Pivot Point?), MPR1 (Monthly Pivot Resistance 1?), WPS1 (Weekly Pivot Support 1?), H&S (Head & Shoulder), W&R (Wash & Rinse).
But I cannot guess for DRPO, LAL & B&B (which is frequently appear in your analysis).
Perhaps there will be some more abbreviation that appear later on that I also don't know. Can you tell me what it stands for or can you give me where I can find the answer?
Thks & Rgds,
Surya.
 
Hello I share your pain Papao! I also am a break even trader. Unfortunately only 3-5 percent of the traders actually make big money hence you are unlikely to read their methods for two reasons: one there not many of them and 2 those who are making money probably are more than likelynot at these pages on the inteternet.

ahah :) actually, i'm not asking anyone to reveal their "secret" trading system :) just their results! I mean, in this way i can understand how much i have to improve myself to become like them!
PS: don't give up. It is ok to be break even trader, it isn't to be loser trader! A break even trader could make experience, and may be became a profitable trader, while a consistently loser trader will be, soon or later, pushed out the business.
 
Dear Sive,
I am considered new in forex trading & I start to follow you analysis about 3 weeks ago. There are some abbreviation (such as DRPO, LAL, MPP, WPP, MPR1, WPS1, B&B, etc) that I don't know what it stands for.
I may guess for MPP (Monthly Pivot Point?), WPP (Weekly Pivot Point?), MPR1 (Monthly Pivot Resistance 1?), WPS1 (Weekly Pivot Support 1?), H&S (Head & Shoulder), W&R (Wash & Rinse).
But I cannot guess for DRPO, LAL & B&B (which is frequently appear in your analysis).
Perhaps there will be some more abbreviation that appear later on that I also don't know. Can you tell me what it stands for or can you give me where I can find the answer?
Thks & Rgds,
Surya.

Hi Surya,
You've got right those abbrev.
Concerning about DRPO, B&B and so on - you may either search on this forum - there are a lot of explanation and even videos with explanation or - you may read DiNapoli book "Trading with DiNapoli levels" (TWDL)
 
DRPO developing on H1 GOLD

golddrpo.jpg
 

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Hello everybody and thank you Sive for your analisys.
Latest pages of the thread of last week makes me curious. I'd like to ask, to Sive and everybody, some statistics about your trading systems. (i'm not talking about the amount of dollar/euro you make each month (it depends on how much you can afford to trade), i'm talking about "relative" performances):

- What is your average risk:reward ratio?
- How many trades ends with a win? (how many are closed at break even?)
- How many trades do you take monthly or every year?
- How much do you risk in every trade (in percentage of your account)?

For example, if you have a 2:1 R:R, 50% of winning, 25 trades monthly and 1% of risk every trade, you have a very very good system! Unfortunately, i'm still a break-even trader (let's say i have a 2:1 R:R, 30% winning, 20% breakeven, 50% losing trades, 30 trades monthly, 1% of risk every trade)... I'm happy to ear that some of you makes big money with trading (means that it's possible!), but it would be really helpful to me read something about how these results are made.
Thank you :)

Hi guys,
Well, I can't provide you trading statistics, since my work currently mostly dedicated to bonds and shares fundamental long-term analysis. But I can attach statistic of my demo - I use it just to not forget trades that we've discussed and those recommendations that I made here. Their stats are not impressive, but not as bad as it can be :)
May be it will be useful for somebody, but again I deal with it so-so, do not treat it with full seriousity.
 

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thank you sive. You are always kind and helpful with us. I hope we can give you something back, soon or later!!
 
Sive, what is your opinion if QE3 happens from fed ? EURUSD will go up?

Thanks.

Hi Louis,
First, I have some doubts about possiblity of QE III. I do not see much needs to launch it.
But if even it will be started - EUR could show just splash as news reaction. Currently EU stands with such deep pit, so US could print as much money as they want.

In medium term perspective most interesting is Syria and Iran, beyond of EU, of cause. In today's Interview Soros said, that EU authorities have aproximately 3-4 month to find exit. After that crisis could be out of control. Even now - if you put out Germany, there will not be United Europe any more.
 
Anyone have any take on the current eurusd situation? I am honestly not sure what to think atm, because all fundamentals since the US NFP are actually pointing harsh negatives for the euro, yet it is still rising... *Shrug*.

As a bear, I am waiting to see if it will break 1.2455 level 'till I get slightly worried, although it is probably short term retracement anyway.
 
Anyone have any take on the current eurusd situation? I am honestly not sure what to think atm, because all fundamentals since the US NFP are actually pointing harsh negatives for the euro, yet it is still rising... *Shrug*.

As a bear, I am waiting to see if it will break 1.2455 level 'till I get slightly worried, although it is probably short term retracement anyway.

Now this is a crucial moment for market retesting the old 1.2455 resistance.. however 1.24947 is the NEW R1 and much stronger. This sort of behaviour leads me to believe the bears are still in control. For example it is clearly still a psychological level, and if market is struggling so much to break this level then how will it act at the real resistance which is 1.24947? I hardly think it will be able to pass it when it acts like this on only small / technically invalid resistance...

Since typing :p I see market has just broken through this minor level and heading for the next target which is 1.24947... I will be closing my buys just before this resistance & begin selling, for sure market will proceed downwards after it goes upto that level!
 
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