FOREX TAPING READING - PIP, PIP, PIP

forex live trades, setups, charts

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Bruno2
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Postby Bruno2 » Sat Mar 31, 2007 8:01 pm

But Avery, open to say I do not really understnd how you can use this PIP workspace for trading. You do not see any trend lines or longer timefrime, how you can decide which direction to take?

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TheRumpledOne
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Postby TheRumpledOne » Sat Mar 31, 2007 9:37 pm

That's simple, you're trading IN THE MOMENT, not in the past.

If you are driving down a new road and it starts to bend to the right, you automatically steer right.

If it starts to bend to the left, you automatically steer left.

So if you are trading and the price...
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby Niagara » Sat Mar 31, 2007 10:53 pm

TheRumpledOne wrote:That's simple, you're trading IN THE MOMENT, not in the past.

If you are driving down a new road and it starts to bend to the right, you automatically steer right.

If it starts to bend to the left, you automatically steer left.

So if you are trading and the price...
moves up, you buy, and the price moves down you sell. You can play a video game, but isn't the problem each buy and sell costs you something. Because of the broker fee, you have to ride a trend of some degree, or don't you.

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TheRumpledOne
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Postby TheRumpledOne » Sat Mar 31, 2007 11:03 pm

At www.efxgroup.com ( tell them THE RUMPLED ONE sent you) if the EURUSD moves .0002, you make ~ $0.70 on the trade.

A 3 pip move makes you $1.70.

On 100 minilots, that's $170 in seconds sometimes.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Bruno2
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Postby Bruno2 » Sun Apr 01, 2007 11:59 am

Avery, your neverending help is really outstanding. Do you use some mental SL for this strategy, or do you just make a few trades in 1min...and that´s it!

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Postby Niagara » Sun Apr 01, 2007 12:40 pm

From this perspective, tape reading, it is hard to discern a pattern, and it looks like a random walk. It would be hard to know what button to push other than flipping a coin. In other words, most people could not see the road.
GBPUSD
duudnnnududduuduuududdnuududud
EURUSD
uudduuudududuuuddudududdddundu
USDCHF
dnddudununnddddduddudunubbuduu
USDJPY
uuddududduuudududduddunddddudu

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Postby Annu » Sun Apr 01, 2007 12:43 pm

Just be aware that EFX/Mbt does not provide *real* last prices for FX, they are synthetically generated, also they do not provide volume information. Phil Huetter (the mbt api guy) said on their mailing list that those prices are just a "best guess", which should not be relied upon.

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Postby Bruno2 » Sun Apr 01, 2007 1:06 pm

Another argument, why I do not absolutely understand how can somebody get some pips from this idea...

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Postby TheRumpledOne » Sun Apr 01, 2007 6:19 pm

Bruno2 wrote:Avery, your neverending help is really outstanding. Do you use some mental SL for this strategy, or do you just make a few trades in 1min...and that´s it!


One minute can be a long time... sometimes it is a matter of seconds.

You're getting warmer.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby TheRumpledOne » Sun Apr 01, 2007 6:22 pm

Niagara wrote:From this perspective, tape reading, it is hard to discern a pattern, and it looks like a random walk. It would be hard to know what button to push other than flipping a coin. In other words, most people could not see the road.
GBPUSD
duudnnnududduuduuududdnuududud
EURUSD
uudduuudududuuuddudududdddundu
USDCHF
dnddudununnddddduddudunubbuduu
USDJPY
uuddududduuudududduddunddddudu


All I need is 2 pips to breakeven and 3 to start making real money.

Traders have been DUPED by the lore of 50 and 100 pip profits. If you can make one 2 pip net trade per day, you can turn a 1 minilot trade into $11,000 in a year. Net 4 pips and you will have over $1 million cash.

Banks pay you about 5% per year on your deposit account. If you just net 1 pip per day, you do that in a week.

IS THE IMAGE GETTING CLEARER?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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