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  • #561,541
  • Nov 14, 2011 6:03am Nov 14, 2011 6:03am
Quoting mpurdy1973
managing fear, greed, and money management will make or break a trader

try using a small enough lot so you can trade based on logic (e.g. start with .01 lots and pretend they are 1 lot); that way there is no fear and greed involved - and money management is taken care of. use a 50 pip stop and wait till you are in profit by 25 pips before moving your stop loss up to breakeven (be) + 1 pip. then let the trade ride to your target price (you can then all use a trailing stop of 25 pips). if you are day trading, this should help you form good trading...
thanks for the advice. i'll give it a try.
  • #561,542
  • Nov 14, 2011 6:05am Nov 14, 2011 6:05am
now i have two trades open one short one long.. one longer term and another shorter term mixed market
When life gives you lemons, make lemonade
  • #561,543
  • Nov 14, 2011 6:08am Nov 14, 2011 6:08am
Merkel: Europe Facing Most Difficult Challenge Since WW2

that's encouraging angela, lets think positive...
  • #561,544
  • Nov 14, 2011 6:08am Nov 14, 2011 6:08am
this is just a "ballpark" trading advice; you will want to customized it to fit your trading style (personally, i dont used fixed stops, target, etc... each trade is different; however, it will get you started until you get the feel of it)

also, note: the volatility is high these days, so expect large swings (in the last two weeks, i have been up 100 pip and still get stopped out in less than an hour!)


Quoting happytrader
thanks for the advice. i'll give it a try.
  • #561,545
  • Nov 14, 2011 6:09am Nov 14, 2011 6:09am
Quoting FibbinArchie
Merkel: Europe Facing Most Difficult Challenge Since WW2

that's encouraging angela, lets think positive...
Where the hell did we hide that printing press?
"I know one thing, that I know nothing." Sokrates
  • #561,546
  • Nov 14, 2011 6:09am Nov 14, 2011 6:09am
Quoting Tom_D_Trader
Where the hell did we hide that printing press?
lol...
  • #561,547
  • Nov 14, 2011 6:12am Nov 14, 2011 6:12am
Hope you all are doing well.

Had a bad day Friday, tried to trade a reversal that never came.
Thanks EZB...lol "lost" around 2k all small trades combined.

Now selling the highs since market open from AUDUSD, EURUSD, GBPUSD,
DAX and Gold. Currently up 3 times what i lost Friday.

cheers

tp
  • #561,548
  • Nov 14, 2011 6:14am Nov 14, 2011 6:14am
Quoting FibbinArchie
break of major murray pivot at 71, made me look lower, thinking possible basing either at the low or 640, lets c...

edit- 640 is 50% retrace of the up move, much below there could turn into capitulation..

current low is top of demand zone that when originally broke to the upside triggered an increase in momentum..
OK , thanks . More good news it actually broke down last limit it can bull again 3651 . will expect up correction the down continue 38.2 3707 , 50% 3728 ok so far or refresh with price stallation next .
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #561,549
  • Nov 14, 2011 6:14am Nov 14, 2011 6:14am
hey guys. which sources do you use to watch E/U correlated markets, DAX and commodities?
As Above, So Below
  • #561,550
  • Nov 14, 2011 6:14am Nov 14, 2011 6:14am
Quoting ThisPip
Hope you all are doing well.

Had a bad day Friday, tried to trade a reversal that never came.
Thanks EZB...lol "lost" around 2k all small trades combined.

Now selling the highs since market open from AUDUSD, EURUSD, GBPUSD,
DAX and Gold. Currently up 3 times what i lost Friday.

cheers

tp
trend rarely reverses on a friday pm, well done for recouping your losses...
  • #561,551
  • Nov 14, 2011 6:17am Nov 14, 2011 6:17am
Quoting fontu
OK , thanks . More good news it actually broke down last limit it can bull again 3651 . will expect up correction the down continue 38.2 3707 , 50% 3728 ok so far or refresh with price stallation next .
getting into ny pre-market time now...

i don't like it when pa hovers at the level...
  • #561,552
  • Nov 14, 2011 6:20am Nov 14, 2011 6:20am
Quoting FibbinArchie
trend rarely reverses on a friday pm, well done for recouping your losses...
Thank you so much FibbinArchie, very kind to say.
You are right about Friday, i really should have known that.

I keep on working on my skills.
  • #561,553
  • Nov 14, 2011 6:20am Nov 14, 2011 6:20am
Trade responsiblypatience is the key/Swing trader
  • #561,554
  • Nov 14, 2011 6:22am Nov 14, 2011 6:22am
Quoting ThisPip
Thank you so much FibbinArchie, very kind to say.
You are right about Friday, i really should have known that.

I keep on working on my skills.
tried to second guess the trend on a friday many times myself, hence i don't do it any more, also was very low liquidity with the armistice day bank holidays...
  • #561,555
  • Nov 14, 2011 6:25am Nov 14, 2011 6:25am
Quoting Incrediblle
why all the anger
When life gives you lemons, make lemonade
  • #561,556
  • Nov 14, 2011 6:34am Nov 14, 2011 6:34am
Quoting FibbinArchie
getting into ny pre-market time now...

i don't like it when pa hovers at the level...
ok , not like though in my favour bcs too smooth . anyway lets see . my views actually was breaks 3669/50 will keep short from next high,watch previous low for ultimate target 2782 . watch 3640 now perhaps , next 3594-76,3542 inbetween.
fontu
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 12 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #561,557
  • Nov 14, 2011 6:39am Nov 14, 2011 6:39am
Quoting fontu
ok , not like though in my favour bcs too smooth . anyway lets see . my views actually was breaks 3669/50 will keep short from next high,watch previous low for ultimate target 2782 . watch 3640 now perhaps , next 3594-76,3542 inbetween.
fontu
Hi Fontu
Why assuming that the price is gonna reverse b4 it reaches the 1.3500 ?
  • #561,558
  • Nov 14, 2011 6:40am Nov 14, 2011 6:40am
try some buy @ 40....
3620 is cloest support..but would expect some bounce around...
Patience, Emotion Control and Discipline.
  • #561,559
  • Nov 14, 2011 6:40am Nov 14, 2011 6:40am
Quoting mpurdy1973
i agree; even Warren Buffet is concerned (he is as bullish as they get) http://www.cnbc.com/id/45284662

Daily and weekly PA in dx did not show any sign of PA regression despite fridays' heavy short covering. Keeping my tp open unless I see otherwise. On higher ground we are looking at 78.7 dx (= to 3386 eu)
Attached Image (click to enlarge)
Click to Enlarge Name: dxd.gif Size: 38 KB
  • #561,560
  • Nov 14, 2011 6:41am Nov 14, 2011 6:41am
it is amazing that Italy and Greece now wanna put all technocrats in power.
Problem is their mentality, and not if they have a political or economic background.

A week ago i did not know what the word technocrat really means haha!

The interesting part of PA of last Friday were the high levels we have had on Monday, my entry on cable was 13 hours ago at 1.6083! (still holding all) same with AUDUSD.


B4 you think the world is saved in Italy know this italian saying:

"Tra il dire e il fare c'è di mezzo il mare."

Between talking and doing is the sea between.
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