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- Sifu replied May 11, 2009
Closed half position at +20 for now.
- Sifu replied May 11, 2009
Hey Nedim, way to go. I went Long again as well at 1.36. Some resistance here around 1.3631 area, due to Friday's close and today's open. If that area cannot be broken I will get out for a small profit to start the week. This is key reversal time, ...
- Sifu replied May 8, 2009
Anyone that went short based solely on one post probably deserves a loss. The more experience I have gotten at Forex the less interested I have become in trading this NFP, at least during the first 5-15 minutes. Might as well go to Vegas because it ...
- Sifu replied Mar 25, 2009
Lesson Four: Detachment — "The Master stays behind; that is why she is ahead. She is detached from all things; that is why she is one with them. Because she has let go of herself, she is perfectly fulfilled." Detachment is an important concept ...
- Sifu replied Mar 25, 2009
Best thing to do for now is stay on the sidelines until things settle down a bit. Way too risky to enter at the moment in my opinion. I want to see what happens as the London market comes to a close.
- Sifu replied Mar 18, 2009
Who would ever use a 1000 pip sl? To me that seems to indicate an inability to admit when being wrong. I don't care how much trading capital you have, I just cannot agree with that ideology. Personally I have never used anything beyond a 100 pip ...
- Sifu replied Mar 7, 2009
Lesson Three: Patience — Thank you to the members who posted the feedback. I'm glad you are enjoying my contribution. The third lesson on patience is in my opinion one of the most important to master. In fact, I would say that without it you ...
- Sifu replied Mar 2, 2009
I was in short from 1.2581, but exited for just a few pips and am now flat and watching from the sidelines. I would rather miss a move than to guess what is going to happen next. Probably won't even look for a new entry till tomorrow. Let the big ...
- Sifu replied Mar 2, 2009
Took a Short @ 1.2581. Was originally targeting Short @ 1.2516 and should have taken it there. This trade is looking okay at the moment as my bias is still Short, but I sure would've been more comfortable with an entry at my original target. Still, ...
- Sifu replied Mar 1, 2009
Yes, I am making money, although it has not been an easy or short road. I don't believe it is for most. I think one of the biggest keys is simply slowing down and being patient. Easier said than done of course, as most people are attracted to ...
- Sifu replied Feb 27, 2009
Next week should certainly be interesting. I see people arguing both sides of which way this pair will be headed. I am a purely technical trader so I will just wait for Monday and see what my charts look like. This wasn't the easiest week to trade, ...
- Sifu replied Feb 27, 2009
Out second half of position at 1.2650. Time to call it a week.
- Sifu replied Feb 27, 2009
I didn't plan on trading today, but when I saw that jump down in Price I had to get on board for a Short. Entered at 1.2672 out half position at 1.2636. Will most likely close remaining half in the next minute if this little move continues to look ...
- Sifu replied Feb 26, 2009
Lesson Two: Intention — Intention is essential to being a good trader. Let me first talk briefly about intention from a Taoist Tai Chi perspective and then how it applies within the world of Forex trading. When I teach a Tai Chi or Qigong form ...
- Sifu replied Feb 26, 2009
You are right that selling here would be the absolute wrong thing to do, but I am holding a Short entered at close of 13:00 gmt bar. Closed half position for profit, but I like to let the remaining half try to run. If the remaining half gets closed ...
- Sifu replied Feb 26, 2009
Both Euro and Swissie creeping towards their respective day's open. Will they break through or reject off those levels? I haven't a clue, but it should be interesting to watch.
- Sifu replied Feb 26, 2009
Anyone else currently short on EURUSD? There was a nice opportunity for Short on the 13:00 bar. Price hit and closed below my 50% fib retracement levels drawn from both 4hr and 1hr time frame. Gotta love the double rejection of 50 levels. For more ...
- Sifu replied Feb 25, 2009
Out — Okay out half position for +30. Stoploss at breakeven with a 50 pip trailing stop in place. Not bad for about 20 minutes of work, and now I can relax with no stress at all. If Price moves through 1.2700 the next resistance is between ...
- Sifu replied Feb 25, 2009
I just discovered this thread. I trade EURUSD exclusively. I am currently Short @ 1.2739. Will close half my position if we hit 1.2700 and let the remaining half run. That is almost always my strategy and it works well for me. I'm able to lock in ...
- Sifu replied Feb 19, 2009
Lesson One: Balance — Balance is the first lesson I learned myself that led to being a better trader. I was anything but balanced in the very beginning, spending countless hours watching charts, taking way too many trades, and watching with ...