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How many have burned their fingers today ?

  • Post #1
  • Quote
  • First Post: Oct 24, 2008 5:42am Oct 24, 2008 5:42am
Todays range so far;

 

  1. Eur/jpy 1200 pips +
  2. Cable 1000 pips
  3. Aud/usd 691 pips
  4. Usd/jpy 680 pips

I guess many have lost big % of their accounts today picking tops/bottoms.

And to punch down all profitable traders today; Relax, a child could have made the same/better return than you This was not caused by any MA crossover.

Measure twice, cut once
Why trying to pick tops and bottoms in the first place?
Just hop on to a trend ride it out.
that is reason why I said forex and stock is not the waiting game most people knows.

the waiting game I talking about is wait until right signal to enter. never ever chase the trend.
I am profitable today, but that is most certainly not due to any MA crossover, hehe. I was already long jpy on several crosses, have been for a while- thanks to eur/jpy and gbp/jpy, my live account equity jumped 40ish percent in an hour. Think I am going to take the day off and rest upon my laurels, and the market's generosity as well.
Quoting aediaz1
I guess many have lost big % of their accounts today picking tops/bottoms.
Yes,

I lost 2% of my account, buying audjpy pinbar. But, that's not a big problem, and fortunately, I'm positive this week.
I'll try to be more careful taking counter trend trades.
I warmed up my chocolate croissant in the microwave a little too much and that kinda burned my fingers.

As far as trading goes, I played it safe. But there was no way I was shorting the USD or Yen today. (or anytime recently for that matter)
Lets see what next week brings.

Tom
Made a killing today
Quoting willf
Made a killing today
It would've been almost impossible not too
Never underestimate the powers of the Force.
Completed my normal weekly take of pips today...

Granted I couldn't hold any of my setups for very long... but I still took my normal trades... just had a bit higher risk and they were quicker than normal.
DireXiv Make it happen, no one else is going to do it for you...
Many will "have burned fingers today" but are far less likely to post than those who made money. Human nature.
Quoting fxprocessor
Many will \"have burned fingers today\" but are far less likely to post than those who made money. Human nature.
Lol actually I didn't burn, I made pips..
Quoting moneybags
I warmed up my chocolate croissant in the microwave a little too much and that kinda burned my fingers.
Better than burning any account

Quoting moneybags
SHR
Yes,

I lost 2% of my account, buying audjpy pinbar. But, that's not a big problem, and fortunately, I'm positive this week.
I'll try to be more careful taking counter trend trades.
Lesson learned
Measure twice, cut once
During the London session I was buring the market with 500 pip moves a minute. Afterward the market burned me back. Taking back that 500 pips. Oh the Irony.
  • Post #14
  • Quote
  • Last Post: Oct 26, 2008 8:45am Oct 26, 2008 8:45am
Quoting Jhig
During the London session I was buring the market with 500 pip moves a minute. Afterward the market burned me back. Taking back that 500 pips. Oh the Irony.
+500 - 500.. u ended it up with breakeven. Nothing to worry about.
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