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  • #1,125,621
  • Jul 31, 2017 1:57pm Jul 31, 2017 1:57pm
Quoting denisius
{quote} No offence , it tells me you have no plan in place. I have been there trust me. What was you target when you entered short? What was your risk? How far can you hold? How far it is from major reversal point? How much you make if it will reverse and how much you loose if it's not! Weight pros and cons of holding negative positions! I can't hedge and I wouldn't use any hedge strategy ever. It's been proven that hedging not profitable strategy. Up to you of course, but I cut my losses immediately now if it's not going according to my plan. I...
No offense taken friend. You're correct I actually got into this currency pair with no definite plan in mind and kept adding more shorts as it was getting higher. And at this stage I have no exit plan either
Enter Signature
  • #1,125,622
  • Jul 31, 2017 2:04pm Jul 31, 2017 2:04pm
Quoting denisius
{quote} No offence , it tells me you have no plan in place. I have been there trust me. What was you target when you entered short? What was your risk? How far can you hold? How far it is from major reversal point? How much you make if it will reverse and how much you loose if it's not! Weight pros and cons of holding negative positions! I can't hedge and I wouldn't use any hedge strategy ever. It's been proven that hedging not profitable strategy. Up to you of course, but I cut my losses immediately now if it's not going according to my plan. I...
why do most people think every one is short term player?
people who sold euro for example in 1.1450-1.15 may have target for 1.12- 1.10, 1.08 and can hold stop above 1.2
and may add more at these levels.
this kind of move is very rare maybe once a year happen.
I agree hedging do not work because price can suddenly reverse like may 2016 see what happened.
  • #1,125,623
  • Jul 31, 2017 2:39pm Jul 31, 2017 2:39pm
Quoting arash66110
{quote} why do most people think every one is short term player? people who sold euro for example in 1.1450-1.15 may have target for 1.12- 1.10, 1.08 and can hold stop above 1.2 and may add more at these levels. this kind of move is very rare maybe once a year happen. I agree hedging do not work because price can suddenly reverse like may 2016 see what happened.
I have never assumed that HE is short term player first of all, he worries about his short positions turning more and more red. Apparently he was not expecting to hold it that long and if you target 12-10-08 and your SL above 20 you are wasting your time. With RR ratio 50-50. I don't know what are you talking about. Long term trading means you holding you profitable trades open through entire trend and not waiting on when you loosing positions turns winning. Unless you have your own hedge strategy.
  • #1,125,624
  • Jul 31, 2017 2:55pm Jul 31, 2017 2:55pm
Quoting denisius
{quote} I have never assumed that HE is short term player first of all, he worries about his short positions turning more and more red. Apparently he was not expecting to hold it that long and if you target 12-10-08 and your SL above 20 you are wasting your time. With RR ratio 50-50. I don't know what are you talking about. Long term trading means you holding you profitable trades open through entire trend and not waiting on when you loosing positions turns winning. Unless you have your own hedge strategy.
as I told repeatedly this is kind of manipulation.it was very good trade that has paid a lot if you see the past.
when there is no reason for this rate for euro why should retailers gives their money to manipulators??/
see my previous posts to know where should euro go by fundamentals.
  • #1,125,625
  • Jul 31, 2017 3:10pm Jul 31, 2017 3:10pm
Quoting arash66110
{quote} as I told repeatedly this is kind of manipulation.it was very good trade that has paid a lot if you see the past. when there is no reason for this rate for euro why should retailers gives their money to manipulators??/ see my previous posts to know where should euro go by fundamentals.
Did you see "big short " movie? I strongly recommend if you didn't. Guy saw market crash but has to wait almost 2 years before it happens. Obviously Euro will drop, it's forex for fuck sake but when and where no one knows.
  • #1,125,626
  • Jul 31, 2017 3:15pm Jul 31, 2017 3:15pm
denisius and arash66110... Your dialogue is really hitting at the heart of the matter and that is strategy and whether you are a long term or short term trader. Much advice given here is about short term trades but there are a good number who do longer term trades such as myself. I even warn people that my strategy is trend or long term. I go in by the dictates of my indicators and I don't leave until my indicators tell me which can be a month or longer. Of course that can apply for day trading as well. Some will say go short term long while others simultaneously recommend going long term short and both can be right.
Taigen Profit This Month: na
  • #1,125,627
  • Jul 31, 2017 3:16pm Jul 31, 2017 3:16pm
Funny how during awful range days/weeks/months people here mostly boost about their minor (if they are swing traders) accomplishments and when the trend finally kicks in, most of the folk seem to be surprised, catching the falling knife and being on the wrong side of the trend.

This has been in works since april this year when I argued with some amateurs here that parity is not possible anymore. Now few months later we are almost 1000 pips up and if you think price will fall down now to 1.10 or 1.08 now, with Trump, after 2 years of range, maybe, just maybe, you should check how year 2014 looked like and what is this pair capable of. So you won't be surprised when we reach 1.30 at the end of the year.

If we get a new high tomorrow (start of the new month) and not an immediate strong refusal, I would close any EU shorts, lick the wounds and look for a long entry.
  • #1,125,628
  • Jul 31, 2017 3:26pm Jul 31, 2017 3:26pm
Quoting denisius
{quote} I have never assumed that HE is short term player first of all, he worries about his short positions turning more and more red. Apparently he was not expecting to hold it that long and if you target 12-10-08 and your SL above 20 you are wasting your time. With RR ratio 50-50. I don't know what are you talking about. Long term trading means you holding you profitable trades open through entire trend and not waiting on when you loosing positions turns winning. Unless you have your own hedge strategy.
You made wrong assumptions about my trading strategy. It's true I said in my response to you earlier that I did not have a plan when I started shorting EU but that does not mean I was not expecting to hold my positions that long. I do short term trading but I am also a log-term investor when the situation requires as in the case of EU. Like I said earlier I hedge my trades to minimize any possible losses as a result of holding positions for extended periods of time
Enter Signature
  • #1,125,629
  • Jul 31, 2017 3:40pm Jul 31, 2017 3:40pm
Quoting denisius
{quote} Did you see "big short " movie? I strongly recommend if you didn't. Guy saw market crash but has to wait almost 2 years before it happens. Obviously Euro will drop, it's forex for fuck sake but when and where no one knows.
you see only lines and price, so there is nothing to debate , there are some limits for every thing as well as manipulation,

and time limits for manipulation, yes I know things and see things that you can not see in your chart,
if you think it is good to buy at these levels , it's up to you
but if you say it in front of any economist ,definitely will laugh,
read this again:
https://www.forexfactory.com/showthr...2#post10140592
  • #1,125,630
  • Jul 31, 2017 3:48pm Jul 31, 2017 3:48pm
Quoting newbegger
{quote} Not quite to 1.1800. Round numbers can sometimes be barriers. Or launch points
1.1800 was a launch pad Now we watch when it comes back to test as support, note the price action.

Also time to bring up stops to a little under 1.1760. No reason to give up profits as NFP is coming soon.

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Ecclesiastes 1:9
  • #1,125,631
  • Edited 4:31pm Jul 31, 2017 3:58pm | Edited 4:31pm
when prices get to that UTL bulls get very much interested......lately best moves occurs in NA session, unfortunately for me is a bit too late.....but I was able to make two scalps short in that flag during my session....Hope you guys got that move....now prices are at the upper channel line...
Attached Image (click to enlarge)
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trading is simple but is simple is not easy.
  • #1,125,632
  • Jul 31, 2017 4:00pm Jul 31, 2017 4:00pm
Yeap Connors...approaching 1.18 57 IF not hit soon then 1.1829 ON STOP is a SELL.......
  • #1,125,633
  • Edited 4:53pm Jul 31, 2017 4:03pm | Edited 4:53pm
Seriously..You go away for a weeks and you come to meet a dozen of forex teachers on the thread.

The setup is targeting 1.24xxs. Bulls of July are showing Bears the finger and will close around month high.
1.1490s will be tested during August tough.
According to the chart, for the past few weeks, Tuesdays tend to welcome Bulls to test and take over supply areas but this may change for August. Understanding and observing patterns is really important.

Taken a short @1.1841 with a stop @1.1861 and tp @1.1680.

I dont think July has been an easy month for many traders so let's reduce the tension. There are very decent, honest traders who are trading with real money here who I truly respect and care.

And enough with lecturing people. All I see is blind leading the blind.
  • #1,125,634
  • Jul 31, 2017 4:05pm Jul 31, 2017 4:05pm
Quoting MaxDoom
{quote} Alas poor trader
For thou has done forex,
Now your account is empty
And your strategy is bollox,
You bought at the top
And sold at the bottom,
Now you must pay the leverage master
Before you hit rock bottom.
Now forget the French data
And the Yankies bullshit too,
Trade your chart
And a historic price or two,
If you don't you will suffer more,
With endless top ups
And no future for you.
One in a few will make it through
Heed my advice and it might be you.
Story of July 2017..
  • #1,125,635
  • Jul 31, 2017 4:20pm Jul 31, 2017 4:20pm
Quoting Connors
Seriously..You go away for a weeks and you come to meet a dozen of forex teachers on the thread. The setup is targeting 1.24xxs however Bulls of July are showing Bears the finger and will close around month high. 1.1490s will be tested during August. According to the chart, for the past few weeks, Tuesdays tend to welcome Bulls to test and take over supply areas but this may change for August. Understanding and observing patterns is really important. Taken a short @1.1841 with a stop @1.1861 and tp @1.1680. I dont think July has been an easy month...
group hug guys...for connors..

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  • #1,125,636
  • Jul 31, 2017 4:27pm Jul 31, 2017 4:27pm
Quoting 9jatrader
We have long journey, way up
Here we go. The monthly has closed above the upper band first time since March, 2008.
Attached Image (click to enlarge)
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Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: 18.0%
  • #1,125,637
  • Jul 31, 2017 4:34pm Jul 31, 2017 4:34pm
Quoting 9jatrader
{quote} Here we go. The monthly has closed above the upper band first time since March, 2008. {image}
It looks like you think that means a lot more up, right? I think today's move might be part due shock since Trump got rid of that Scaramucci guy after JUST 10 DAYS... I wanted to like Trump and hope for health/tax reform, but that aside it has been a Trumpster fire lately! Can even see that from your chart. haha.

Politics aside, I keep thinking the government in the US "demonstrating" a new level of incompetence will stop each day, only to be amazed that they and then the USD continue to go lower... haha.
  • #1,125,638
  • Jul 31, 2017 4:39pm Jul 31, 2017 4:39pm
Congrats EU bulls
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: 18.0%
  • #1,125,639
  • Jul 31, 2017 4:40pm Jul 31, 2017 4:40pm
Quoting 9jatrader
{quote} Here we go. The monthly has closed above the upper band first time since March, 2008. {image}
Looks like it is heading to the low 1.20īs to me. Interesting level will be where it broke the double bottom on the monthly chart. We are long overdue for a retracement but markets can sometimes stay overbought longer than your margin allows.
  • #1,125,640
  • Jul 31, 2017 4:41pm Jul 31, 2017 4:41pm
Quoting skillz16
{quote} It looks like you think that means a lot more up, right? I think today's move might be part due shock since Trump got rid of that Scaramucci guy after JUST 10 DAYS... I wanted to like Trump and hope for health/tax reform, but that aside it has been a Trumpster fire lately! Can even see that from your chart. haha. Politics aside, I keep thinking the government in the US "demonstrating" a new level of incompetence will stop each day, only to be amazed that they and then the USD continue to go lower... haha.
Politics and humans play important role in this business
Make all mistakes in demo and rain in pips in live account
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