Mp | Intermediate Term Points E/U

[mp6140]

Mp --- 6.9.2011 Morning

Well now, look at that !

Hope everyone had a great nite with your trades.

908 edst --- well its says 4450 to the downside which is a little hard to completely swallow rite now but lets look.

TREND CHART (based on CURRENT momentum and trend and certainly can change)
UPSIDE ----------- 4544
DOWNSIDE -------- 4522, 4499, 4486, 4472 and 4438 with 4360 as a real stretch in anyones language

 

[mp6140]

MP -- 6.9.2011 -- early afternoon

240 edst --- apparently "they" are holding the ball and running the clock till rollover and the reversal -- the price is moving in a slightly down, narrow channel on the 15 min chart with present low at 1.4500 and a high at 4528 with 4533 showing as a major reversal point


147 pm edst ---

TREND CHART (remember, while very often correct, trends DO change)
DOWNSIDE ----------- 4411 AND dropping --- below lies 4367 which is a major reversal point, as in MAJOR !

UPSIDE --------------- VERY LIMITED RANGE since the price is falling like chicken liddles sky 4504 and thats sorta following the price down also

DAILY CHART
DOWNSIDE ------------ 4487 MAJOR REVERSAL POINT BOYS AND GIRLS \
UPSIDE --------------- 4518, 4533

and way too early for the "black box" which is still working on last nites numbers and spending WAY too much time in office gossip at the water cooler

 

[mp6140]

324 pm edst ----

first and foremost one must remember that there are many "grades" of traders reading these and other posts ---- one of the things you so often see is advice stating NEVER AVERAGE DOWN, which to my way of thinking is a crock !

of course I have to state that "averaging down" is for those with a bit of experience and time trading, and to do it well requires KNOWING that your target point will be hit.

during EVERY approach to your target, no matter where it is, there will be retraces with some being significant --- allowing for the equity and margin available in your account (and MORE is always BETTER), averaging down (OR up) allows you to increase your net gain wonderfully.

unfortunately, the united states has decided to protect retail traders from themselves (and make it MUCH easier for the brokers) by allowing you to only move in one direction at a time, in a market that CONSISTENTLY moves in TWO DIRECTIONS at a time --- unfortunately, for safety in this age of scams, only Germany and Switzerland can provide brokers who will allow you to do that as a US citizen and there are rumblings that this may not continue (unless the head of the commodities regulatory agency suddenly departs this world, along with Obhamma)

to get around this one can form an international corporation, or simply hop over the atlantic and register there, at least for the time being. the second alternative is TWO accounts with the same broker here in the USA, one for longs and one for shorts.

so what ive done is really stretch the "averagind down" routine into "going with the flow" which means holding your long when the market turns south, playing the short and then buying more longs for the trip up, which is simply "flow trading" combined with averaging down (or up if the price is moving down)

Given the time and effort to learn this simple procedure, and the broker who will allow it (NOT one in Nigeria please) you essentially double and triple your profits because you do not have a single trade, sitting in drawdown (or god forbid, being taken out on stop loss, which is why i NEVER use stop losses) and waiting for your trade to go back up.

NOW, before you newbs rush out and try this, understand that you have to learn how to trade FIRST, and that really does take a few years for the average person --- in one year you can be "fairly" competent, in two you can be "decent" and in three or four you can become "good" because at its very basis, forex is nothing but a game being played by a whole lot of people, and an awful lot of them KNOW the game well, BUT IT CAN BE LEARNED !

OH, and btw --- the MT4 charts are NOT the answer to good trading for anyone of MANY reasons, which we may go into another time if i remember. YES, you CAN trade decently off of them, BUT there is SO MUCH BETTER OUT THERE

 

[mp6140]

Mp -- Awesome Secret

AND FOR MY FINAL ACT OF THE AFTERNOON, A LITTLE KNOWN SECRET THAT IS NOW YOURS.

While this applies to scalpers more than longer term traders, if you get a demo from BROCO in russia, you will find that by bringing up the "new trade" screen, you will see their current prices (naturally)

but Broco does a funny thing --- they make the current prices WHAT THE TARGET PRICE IS GOING TO BE (less ONE pip on longs)

so what good is this ?

LOL --- because they do it IMMEDIATELY and before YOUR broker does it, so if you have Broco open you ALREADY know where the next trade is going and usually have enough time to set it with your broker and make profit on it


WHO SAID IM NOT A REALLY SWELL GUY ?

Now for fun (i grew up during the cold war) I will wait until Broco shoots its price DOWN to cover a downside move and then BUY tons of lots knowing where the next resistance point will be --- this tends to aggrevate them because theyre trying to stop people from successfully scalping, but I get to the next TP BEFORE THEY DO, and while making money is fun, getting their trading desk aggrevated is even more fun !

 

[mp6140]

815pm edst ---

UPSIDE BEING INVESTIGATED YET AGAIN with PIVOT at 4546 showing nicely on the 5 and 15 minute charts.
4549 and 4552 showing on the 30 min chart with 4563- 69 A POSSIBLE anticipated high for this move (4599 is a possible, but stretchy)

840 pm
edst ----- 4538 shows as major reversal presently


DOWNSIDE FOLLOWS UPSIDE DIRECTION
PRESENTLY 4509 BUT AFTER hitting 4568 or 70 or 71 or whatever it will be when price finally gets there, should reverse down again to the 4468 area if it loves us

 

[mp6140]

Mp -- 6.9.2011 -- Overnites And Tomorrows

1149 edst -- a touch early for getting locked in, but heres something to play with.

UPSIDE -------- 4546(PIVOT), 4551, 4554, 4568
DOWN -------- 4519, 4507, 4497, 4488, 4476, 4467(H1 CHART) with 4432,4427, 4419 and 4407 showing but not yet waving flags ---- i get a feeling we may hit 4369 but sure not pushing it on anyone right now

should we break 4479 to the downside, AT SOME POINT we will go to 4265 and 4248 but would expect upside before that much of a move BUT --- its a "conceiveable"

believe we get upside move at 4481 and then continue down

 

[kmf1414]

thanks again for your great help with the numbers that you post for us

 

[mp6140]

Mp --- 6.10.2011 Morning Capachino

well boys and girls, what can be said ?

Ever so hard to figure what "they" will do next but whatever it is will happen at 9am edst.(give or take some minutes) -- IF WE GO UP at or around 830 we expect to then continue DOWN at 9am (normally)

Presently trend shows wanting to move upside for a while, cause forex also got an upside

DOWNSIDE
4457 IS A REVERSAL POINT

UPSIDE MAJOR RESISTANCE POINTS

4452, 4496, 4510 (was prior days close so its a biggie --- break it for real and we continue up, bounce and we go back down and theres some really nice DOWN down there

915 am edst --- and so we continue down after going up a bit, no matter MY feelings on the matter 4439 coming up fast and we should reverse there

 

[mp6140]

357 pm edst --- 4332, 4296, 4279 show on Trend


1212pm edst ---- 4348, 46 coming into view on the downside


1202 pm edst --- boy do i ever get confused on time of day all over the world because i said this at 1030 am and it was the wrong time --- as ive said many times, if the price goes UP at 1130(in a downtrending pair) one can expect it go go down at noon --- from 1130 to noon is the greatest time for a counter trade. --- now, we should go back down but remember today is friday and the pros will be cashing in their shorts (usually before 4pm wall street time) which will raise the price

this time of day is much fun because you get to play all the support areas you already played and get away with it, unlike double jeapordy.

if you are very good and very quick, some profits can be made during that short selloff time, but dangerous for the newbs out there.
!


955 am edst

remember the numbers i said were a stretch last nite ---- LOL

4369 is a reversal point and 4333 no longer as much of a stretch as it was

4402 is reversal

4415 possible this move

4391 area TO WATCH especially if at 1030 am

 

[mp6140]

Mp -- 6.11.2011 -- early xmas greetings

"and all through the house, not a creature was stirring, not even a mouse"

28.75 hours to market opens

Now there is NO reason the above should get me going on HOW TO CHOOSE A BROKER, but it did cause different brokers keep different hours, with some having a "pre market" (where spreads can be VERY large) and differing closing times.

for instance, some close on friday at 4pm, which means you lost the last hour of trading which can be quite profitable, and others stay open to the last second. Some open at 5 on Sunday, while others wait for 6 (edst)

and choosing your broker has even more junk involved --- especially for scalpers, but applicable even to some intermediate traders is the "minimum number of pips away from market price" where you are allowed to CHANGE your take profit point. Good brokers allow you one pip difference but i have worked with ones where you could not change your take profit price if it was within 15 pips of the market (or where you were set for TP)

then we get into "fixed" vs "variable" spreads and does your broker pay (or take) the rollover fee ? Some do not give you the rollover and hopefully they give you the best spreads in exchange, but certainly NOT ALWAYS --- sometimes they just simply keep the rollover and to heck with you dummy !

of course there's execution speed, dealing desk or no dealing desk (actually, a desk is NOT a terrible thing if they dont try to hurt you, BUT - - - - _

Requotes --- there will always be a small amount if the momentum is fast, but absolutely NO acceptance if the market is yawning along and you get requote after requote.

A lot of time the requote is to prevent you from hitting the next scalp point, and many times its just a simple problem with no evil intentions --- BROCO avoids requotes by having the fastest fingers Ive ever seen covering the trades, as I explained yesterday --- If youre already blocked by the price and spread from taking the trade, then they dont need to requote you ever, cause the spread they present wont allow you to make a profit (all of this is silly now cause Broco not taking 'mericans any more because they sold their soul to the SEC for a "slightly illegal" use of customer funds they got caught at and were offered the ability to open shop here in the USA if they would SIGN THE NEW REGULATORY AGREEMENTS ---- in the real world, they call it blackmail, but then again in the real world, shorting a stock would be called GRAND THEFT (re-read the process of shorting stock to understand)

So there it is --- what should be simple is highly complex and you havent even gotten to your first trade while you pick a broker.

Of course, the way around all of it is to have a few billion, open an office on a barge anchored offshore and call yourself a bank --- then NO RULES apply.