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FXMindset Oct 20, 2011 11:38am | Post# 4141

SP500 not EUR
Ok,Thank you..quite confused as I never take a look about S&P

Welll..am just realize that everytime am posted,my post always show in the top ??

RodMca Oct 20, 2011 11:38am | Post# 4142

Brief Technical correction underway it seems.

spzd Oct 20, 2011 11:39am | Post# 4143

I tried demos, but when it is not your own money you do not have that motivation and do not care much if you lose or win. that is why i decided to start with mini live account, that gives much more passion and teaches how to deal with emotions

on, why bulls are so passive? not even trying to bounce up with dignity they have no enough strength or just a bear trap? it smells with something tricky...
If your just starting out and trading a live account, my suggestion is to use micro lots in the form of pennies per pip. You still get that my money emotion without the risk of loosing large sums of money while building your system and learning.

PipTrapper Oct 20, 2011 11:39am | Post# 4144

So you trade without Stops??

Is that safe?? Some say it would be bad from "money management" point of view. Is it so???

Or you really mean it??
It is all in the entry. When I enter, if it goes against me, because of the way I enter, I know it will come back to either break even or at least to a lower loss.
The basic premise is to sell on the swing high and buy on the swing low.

I do use a stop but it never triggers because it is very far away.

ADD: I close my trades manually 95% of the time

AaronWard Oct 20, 2011 11:40am | Post# 4145

... damn, seems I should leave the underwater trade running... price crossed already the entry point . But I was afraid that some good data may come in and try to break the resistance, so I took profit on my rescue short and killed the losing one.

Nah, forget it. Maybe I get a nice short entry when I get home.... At least the week is still positive for me... And maybe we get some huge friday drop...?

Blobik, let me get this straight. You are at work watching your positions with FF and blogging with us. Why don't you get a platform you can trade on your phone?

Alorente Oct 20, 2011 11:42am | Post# 4146

1 Attachment(s)
OK. The coral is broken. 1 down, 3 to go. We are right now pounding on the 1.3680 support level which coincides with the 200 SMA support (Blue Line). After that it is the neckline (pink line). The Slow Trix and Fast Trix are both red (The two lines in the middle indicator). That is bearish. The Fast Trix (Thin line) is about to cross the Slow Trix (Thick line). That is a big Sell signal. The RSI is dropping and confortably below the trendline (Lower indicator). Everything looks honkey dorey for the bears. It looks like it will all happen today but no guarantees. It may be tomorrow.
Click to Enlarge

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PipTrapper Oct 20, 2011 11:42am | Post# 4147

Ok,Thank you..quite confused as I never take a look about S&P

Welll..am just realize that everytime am posted,my post always show in the top ??
That's coz you're the top guy

PipTrapper Oct 20, 2011 11:46am | Post# 4148

OK. The coral is broken. 1 down, 3 to go. We are right now pounding on the 1.3680 support level which coincides with the 200 SMA support (Blue Line). After that it is the neckline (pink line). The Slow Trix and Fast Trix are both red (The two lines in the middle indicator). That is bearish. The Fast Trix (Thin line) is about to cross the Slow Trix (Thick line). That is a big Sell signal. The RSI is dropping and confortably below the trendline (Lower indicator). Everything looks honkey dorey for the bears. It looks like it will all happen today but...
Yes with the RSI clearly below 50, respecting the trend line and pointing down, it's looking good.

PipKiller Oct 20, 2011 11:46am | Post# 4149

Bloomberg: ECB considering changing rules on asset-backed collateral

Interesting, hit's that 1.368 and we get another headline and another bounce.

Ya I'm filled @ 1.3685 ready to cut it loose quick too.

FX Tsunami Oct 20, 2011 11:47am | Post# 4150

doubt
 
It is all in the entry. When I enter, if it goes against me, because of the way I enter, I know it will come back to either break even or at least to a lower loss.
The basic premise is to sell on the swing high and buy on the swing low.

I do use a stop but it never triggers because it is very far away.

ADD: I close my trades manually 95% of the time
I understood that. It is true, when the entry is correct there is no need for stop. But i am pressurised if i see negative pips. Need a paradigm shift in emotional control!!!

and would you mind answering my question?? (may be silly)

Being announced that EFSF cannot be leveraged to the level as expected earlier, how it would affect EUR?? or will they really leverage it??

Like it will be good for them to weaken it so that they can raise more money???

Since i am new to Forex, i am having such doubts. I would be happy if you guys help me out with this.

PipTrapper Oct 20, 2011 11:50am | Post# 4151

I understood that. It is true, when the entry is correct there is no need for stop. But i am pressurised if i see negative pips. Need a paradigm shift in emotional control!!!

and would you mind answering my question?? (may be silly)

Being announced that EFSF cannot be leveraged to the level as expected earlier, how it would affect EUR?? or will they really leverage it??

Like it will be good for them to weaken it so that they can raise more money???

Since i am new to Forex, i am having such doubts. I would be happy if you guys help...
I would be happy to answer your question, but now is not the time to fill the thread with fundamental explanations. After hours would be better.

ADD: A very simple answer for now is, it depends how much is already priced in to the market

PipKiller Oct 20, 2011 11:50am | Post# 4152

+17 pips scalped on bounce, I'm out flat E$ It looks ugly. Pretty much covered my SL hit this morning.

FXMindset Oct 20, 2011 11:51am | Post# 4153

I understood that. It is true, when the entry is correct there is no need for stop. But i am pressurised if i see negative pips. Need a paradigm shift in emotional control!!!

and would you mind answering my question?? (may be silly)

Being announced that EFSF cannot be leveraged to the level as expected earlier, how it would affect EUR?? or will they really leverage it??

Like it will be good for them to weaken it so that they can raise more money???

Since i am new to Forex, i am having such doubts. I would be happy if you guys help...
Hi there,

Sorry,Do you trade based on chart (Technical) or News (Fundamental) ?

Alorente Oct 20, 2011 11:51am | Post# 4154

Alorente,
I think there is some validity to the bailout bulls underlying premise, that is that some kind of solution is possible.

But I disagree with them that it will be a cost free pass through to the taxpayer. Much financial pain is to be forthcoming and the behind the scenes arguing is about who will pay what, to keep the Euro afloat.

Also am a firm believer that the Euro has a fundamental flawed structural problem that needs to be corrected.
The USD is backed by a Nation with vast underutilized resources. So The USD problem is a political...
You cannot have a currency without a single Fiscal and Political voice behind it. The Euro was doomed from the beggining. Europeans are not willing to let go of their Nationalist ideas and feelings. Heck, in Spain alone we have several regions wanting independence. The concept of Europe is an unachievable dream. Maybe in Utopia, but not here on earth...

PipTrapper Oct 20, 2011 11:53am | Post# 4155

Bloomberg: ECB considering changing rules on asset-backed collateral

Interesting, hit's that 1.368 and we get another headline and another bounce.

Ya I'm filled @ 1.3685 ready to cut it loose quick too.
It's not over till the fat lady sings and she called in sick this week. She even cancelled her report to the Bundestag (German Parliament) tomorrow.
I guess if you have no good news, you say nothing.

FX Tsunami Oct 20, 2011 11:54am | Post# 4156

I would be happy to answer your question, but now is not the time to fill the thread with fundamental explanations. After hours would be better.

ADD: A very simple answer for now is, it depends how much is already priced in to the market
Oh. That would be greatful. Merci beacoup

foto Oct 20, 2011 11:55am | Post# 4157

This mornings Euro strength was very short lived. Indication the USD has some more strengthening ahead.
Will add to my short position if the USD index breaks above the 77.50 level and holds.

Will buy USD only on confirmed strength. The world still views the US as a basket case.

Alorente Oct 20, 2011 11:57am | Post# 4158

1.3680 support and 200 SMA support almost cracked. The neckline only 30 pips away.

FX Tsunami Oct 20, 2011 11:58am | Post# 4159

Hi there,

Sorry,Do you trade based on chart (Technical) or News (Fundamental) ?
Hello,

I prefer to stay with techies. But still i am just wandering around which will suit me, or i have to make something that suits me.

And about techies, i have just started with stuffs like FIB, Bollinger and several of those. Heard babypips.com is good.

Sorry, i am talking much. i knew that

PipKiller Oct 20, 2011 11:58am | Post# 4160

It's not over till the fat lady sings and she called in sick this week. She even cancelled her report to the Bundestag (German Parliament) tomorrow.
I guess if you have no good news, you say nothing.
Nice

My Grandma was a good strict German lady and she always said "If you can't say something nice, you don't say nothing at all"


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