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torero
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Everything posted by torero
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Yeah, it was a range play this morning. I didn't see anything interesting. Hoping this afternoon or Tokyo opening would bring some more volume in.
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I'm watching the failure on this one (or not so failure). I'm not seeing clearly on other pairs, too fuzzy for me.
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I'm always game when it comes to forex observations and commentaries, especially when they're not much company during London session so I don't expected the low head count. Plus Thanksgiving weekend don't expect much activity here (I don't celebrate it anymore since no one does in Europe does). Yeah, it wasn't that hard since most Yen-related pairs wanted knocking to make new lows. That trade's been easier than others I've traded lately.
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If you want to learn more about forex, currently the best threads right now are: http://www.traderslaboratory.com/forums/2/eur-usd-2591-3.html http://www.traderslaboratory.com/forums/f2/gbp-usd-2854.html You got 2 veterans who can gives you the insight you want (Anna-Marie and Milliard). One of the few threads I contribute on a regular basis now.
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In the end, I shorted the CADJPY when it broke down. Decided not to hold it over the weekend. Yen sure was a nice steady weakness. Conditions couldn't have been I must say. Thanks for the advice. Have a good Thanksgiving weekend!
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One of the best cures for biases was when I decided to use mechanical trading to test our my so-called "great ideas for tomorrow". Dang it, it was mind-blowing to see how many bad ideas I had in my head (I won't go into others' but it was enough). By using the facts, I figured out that biases are the causes and quickly dropped the biases after seeing the facts for myself. You dont' have to be a programmer; a few lines of code on TS will be enough to prove or disprove your biases.
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Hi Tex, Welcome and hope you get some answers to put things together to turn your trading career around. Please remember that moving to different stocks, eminis or whatever won't improve your chances, it's understand the market and yourself that will change your trading. Good luck!
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AUDUSD looks like a bit more sloppy but still trying to stay below support line. I'm just waiting for the break before stepping in.
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Some of the pairs look very interesting for hold over the weekend but not sure with the light volume for today and tomorrow if it's advisable. I'm going to try with a small position and wider stop to be sure I won't get stopped out. Any observations on this one?
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Wow, this is dead market or what? Thanksgiving doldrums before the europeans play by themselves when the yankees go on holidays? I only play the London session for now, don't see the need to go into NY just yet, unless I get a job that demands 24/7 duty. But this session provides me plenty of action, thank you.
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welcome both! Have fun on this forum!
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Thanks for the excellent analysis, guys. I haven't touched Cable this morning despite the burst but scalp shorted the loonie (ha ha, funny nickname) since it's was broke the near term support. Other than that, nothing doing. I'm watchin USDCHF dropping and I see the buck is moving quite nicely, thanks for the tip! I'll keep that in mind.
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Hi guys, Now that you're all here, I'd like to some nicknames cleared so I can follow your conversation if you don't mind. I know Cable and Geppy, but are there other pairs out there with nicknames and can you please provide them for future references? Us newbies don't hang out the vets long enough to get the lingo (unless they're meant to be codenames for something). As for the CHF, I always wonder why people trade it since it's such a stable currency. What is the best pair related to CHF to trade? At the moment USDCHF and CHFJPY on my charts but not others. Thanks. As for Cable, I don't see any opps this morning or last few days since it's been ranging. Only USDCHF looks appetizing. Any thoughts?
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Yep, when it goes, it sure goes with a bang. Amazing, same time last year when all hell breaks loose just like last December when it neared the 20-year high. Let´s see if it delivers more movements before xmas for more presents on the trees, hee hee.
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.swf is the most compact format, .mov and .avi are large files, it may take a toll on the server and the streamer. Check with James on this. P.S. in my post, I said I didn´t add sound because I didn´t have a mic at the time. I´ll add it in the next time I record it. Apologies.
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True but the first step is understanding the market and price action before taking the second step (psychology). This in itself takes a while to figure out. I think this is the majority of people are interested in because most don´t have enough patience (ie money) make it to the second part.
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I use TS for charts but not for executing trades. Mainly for research purposes and their charting is very slick with many feature, been using for more than 3 years now. I heard a similar product Multicharts very close to TS (check this forum), even uses all the TS formatted files too. I'm planning on looking at this one more closely and see if i can get a better deal if it offers the same features.
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I do it everyday along with lots of other people. When you stuff too many things onto the charts, you later realize you lose the most important piece of information: price. One or two is good, but I only use trendlines and sometimes 1 max. Try it and it'll set you free.
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Yeah, know how you feel dude, happened from time to time. Lewis Hamilton hit the wrong button and lost the championship. Oooooh, that's gotta hurt. But at least he's finished making rookie mistakes.
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Hi Anna-Marie and Milliard! I see you both are still lurking about on this forum, thought you left us. It has been a while since I last been active on the forum since I'm moving to forex almost exclusively (better hours for me, London to NY, then before Tokyo close). Since then, I moved out just trading only Cable. It's been an eye opening experience to trade different pairs, making the work more challenging but fun nevertheless. Hope I get to contribute a little bit to the jawboning (ha ha love this word!).
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This is from my experience after using various brokers, and from what I see so far, they are better (I never said they are the ultimate retail broker). I'm not a big gunslinging size trader compared to the institute so I can't say if they can handle size. So trading a few standard size contracts don't pose a problem for me during rush hour. The contracts execute fairly quick. I'm aware that EFX has a guy out there on the forums educating or jawboning like you say to differentiate themselves from the no-commission brokers. I'd rather take the comms to the spread they offer. There's a level II on MBT where you can see the size a few levels on each side, so it look like the real market to me, I place an order, and I can my order on the Level II right away. FXCM and others only offer the spread quotes the last time I dropped them. They have more than others for me at the moment. If there are others out there that can offer more, let me know, I'm always looking out for new improved platform. I don't promote or condemn any brokers, just my personal observation and opinion and I mentioned earlier, just try them all and see for yourself and don't take my word as the truth because the truth is only what each person sees it.
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I think the best answer is to test drive them all when the free fake accounts. But be aware that the test accounts won't be exactly as the real accounts, there are miles apart from the two. But two things I check for, the quotes, and the speed of the execution (especially when it's AT THE MARKET, for what the current last price was and what you got and how long it took to be executed). If the spread is wider than another, put it as a con. If it executes longer than expected (even at Market), double con. If it executes at prices way out last prices (exception is at the news announcement, all bets are off), triple con. If they all hold up, then you have a decent platform on your hand. So I've done this and had experienced with real accounts with a few out there. I'm currently using MBTrading, which uses the same platform as EFX. No complains from me so far. Been using for more than 1 year. I won't mention names, but the bigger and popular the brokers, then you know you're not dealing with highly personal customer rep service or decent platform (slaughterhouse). These are the ones the amateurs and uninformed first go when they see an ad all over the place. Do due diligence and see through the smoke and mirrors and judge for yourself. Hope that helps.
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Trading Alone or With Others in Trading Room?
torero replied to nycdweller's topic in E-mini Futures
There are upsides and downsides to trading alone and trading with others. Distractions can be a hindrance when you're daytrading, particularly scalping where every second counts where the market will turn on a dime and you get in or out quickly. The problem with paying full attention is the emotional effect that carries with it. If you're disciplined and place your trades (entry and exit) in your plan, you should be able to walk away and let the trade take care of itself. Plus, there's no emotional attachment to the trade to influence you to get out early or late. Gotta see what suits you best. I trade mostly forex now, London sessions, so the wait is essential, I place the entry, the stop, and target and let the market do the rest. I can do other things while the trade takes place. Unless it's news-driven market, it might be a volatile period, I stay in place and see how the market figures itself out before taking the entry or exit. -
Threads needs to be more visible
torero replied to brownsfan019's topic in Announcements and Support
How about just a simple category 'survival guide' for downloading, posting, reading, etc. -
I think the transition is very difficult because you're going from full steady income to possibly no or little income with high unpredictability. This will play a huge role on your trading because of the stress to produce the goods. If you can do half and half or if you already have a system you can pull a minimum of what you;re already making on your regular job for a good 6 months, then you might be ready. But remember gotta have the savings to survive those 6 months (or more), that way the pressure from the bills won't pile up and affect your trading. Good luck.