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The Swamp

  • #19,281
  • Jun 1, 2018 1:06pm Jun 1, 2018 1:06pm
Quoting swing 123
1600 should come first, which could give a bounce, which should be capped by 1658. GL.
could be since its the closer but anything can happen...
When life gives you lemons, make lemonade
  • #19,282
  • Jun 1, 2018 1:06pm Jun 1, 2018 1:06pm
Short target should be 00.
  • #19,283
  • Jun 1, 2018 1:06pm Jun 1, 2018 1:06pm
Quoting swing 123
Short target should be 00.
lol... not yet. europe is the heart of earth, it will fight to the end. germany never gives up
When life gives you lemons, make lemonade
  • #19,284
  • Jun 1, 2018 1:09pm Jun 1, 2018 1:09pm
Quoting micho
{quote} lol... not yet. europe is the heart of earth, it will fight to the end. germany never gives up
Well when greece went into shit in 2009, that was my target. Still await the TP.
  • #19,285
  • Jun 1, 2018 1:15pm Jun 1, 2018 1:15pm
Quoting swing 123
{quote} Well when greece went into shit in 2009, that was my target. Still await the TP.
i dont see that as a target, but it can happen someday
When life gives you lemons, make lemonade
  • #19,286
  • Jun 1, 2018 1:16pm Jun 1, 2018 1:16pm
Quoting swing 123
Short target should be 00.
Its has landed in the last year range which is quite bearish and keeping the target 00.
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  • #19,287
  • Jun 1, 2018 1:17pm Jun 1, 2018 1:17pm
Just receive COT report to see how institutions positioned themselves on Tuesday suggests to me, Euro has lower to go.. this drop is not over yet.. more to come this weekend
  • #19,288
  • Jun 1, 2018 1:20pm Jun 1, 2018 1:20pm
Quoting swing 123
Pending short 1716. Sl 25pips.
Thats where the number came from...thats the peak of the previous range.
  • #19,289
  • Jun 1, 2018 1:28pm Jun 1, 2018 1:28pm
pending SHORT
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A good trader follows his rules, but great trader knows when to break them
  • #19,290
  • Jun 1, 2018 1:34pm Jun 1, 2018 1:34pm
Quoting swing 123
{quote} Thats where the number came from...thats the peak of the previous range.
i see what you mean but not all trends reach their targets otherwise trading would be piece of cake
When life gives you lemons, make lemonade
  • #19,291
  • Jun 1, 2018 1:38pm Jun 1, 2018 1:38pm
Quoting micho
{quote} i see what you mean but not all trends reach their targets otherwise trading would be piece of cake
I love icecream cakes. Anyway thats just a joke. But that chart says its going down. I dont know it may go up but thats what techs say at the moment.

have a great weekend guys. Chao.
  • #19,292
  • Jun 1, 2018 1:42pm Jun 1, 2018 1:42pm
bad news collect the currencey and good news sell them off . Europe is not going to go away at any cost . the countrey i love to visit
  • #19,293
  • Jun 1, 2018 1:52pm Jun 1, 2018 1:52pm
Quoting swing 123
{quote} I love icecream cakes. Anyway thats just a joke. But that chart says its going down. I dont know it may go up but thats what techs say at the moment. have a great weekend guys. Chao.
ciao see you next week
When life gives you lemons, make lemonade
  • #19,294
  • Edited 5:55pm Jun 1, 2018 5:43pm | Edited 5:55pm
Quoting Boulder
Just receive COT report to see how institutions positioned themselves on Tuesday suggests to me, Euro has lower to go.. this drop is not over yet.. more to come this weekend
I hope you kicked butt today..
those who can, do. those who cant, talk about those who can
  • #19,295
  • Jun 1, 2018 6:30pm Jun 1, 2018 6:30pm
Quoting gatorinla
{quote} I hope you kicked butt today..
i did...with your help this morning....Thanks Gator ;;;
  • #19,296
  • Edited 7:50pm Jun 1, 2018 7:36pm | Edited 7:50pm
Quoting Boulder
{quote} i did...with your help this morning....Thanks Gator ;;;
u got to trust the R/R.. when favorable for retrace. 1616 was a example .. later 1681 was the same example. its more about playing odds. A simple S/R chart can make money. because norm allows the bounce to have a measurable reward. u evaluate the reward to see if the risk has value. if done right in a favorable trend. You have the chance to write your own check. add in the s/r you chose is itself a norm. the mentioned numbers were norms.. Losing trades are part of it. you just lose the smaller risk, you want the trades 8 X the risk plus. your want to extend a trend. you don't have to risk a lot % wise. if you let the trade come to your norm and s/r levels to enter or tp.

don't risk 5 pips to make 5 pips,, risk 5 to make 50 or 100
those who can, do. those who cant, talk about those who can
  • #19,297
  • Edited 9:30pm Jun 1, 2018 9:18pm | Edited 9:30pm
Quoting gatorinla
{quote} u got to trust the R/R.. when favorable for retrace. 1616 was a example .. later 1681 was the same example. its more about playing odds. A simple S/R chart can make money. because norm allows the bounce to have a measurable reward. u evaluate the reward to see if the risk has value. if done right in a favorable trend. You have the chance to write your own check. add in the s/r you chose is itself a norm. the mentioned numbers were norms.. Losing trades are part of it. you just lose the smaller risk, you want the trades 8 X the risk plus....
Thank you Gator for your good advice. The one area that I try to improve on is to let my gains ran. I'm not able to do that well. I'm always working on it....

But i would like to share one of the articles that I saved a year ago...this is more like me.. how I trade like accountants.. because I am always afraid to lose...

99% of Traders Can Do Better If They Just Do This
by Boris Schlossberg
Everyone wants to be a big swinging d-ck.
Hollywood is full of stories of an underdog who takes on an insane risk and wins against all odds to becomes a hero for life.
All or nothing.
All in.
Let it ride.
Go big or go home.
We are all so familiar with these story arcs that we can probably recite them in our sleep. The emphasis in all these stories is always on winning it all. Indeed the central myth of America is winning. Just ask Donald Trump who has managed to make a career out of exploiting that myth for all its worth.
In real life however, and especially in trading, success goes to those who seek to win, but to those who learn how not lose. Like Warren Buffett. The difference in approach is exemplified by what I call the two models of trading -- the insurance model and the lottery model.
99% of us, whether we admit it or not, chase the lottery model. Have a hunch bet a bunch. Double your account in a week! Take $10,000 to $1 Million in…. You can fill in the blanks as easily as I can but you know deep down in your soul that its bullshit. The lottery is the ultimate suckers game, yet we all fall for it. Because we are all greedy.
I on the other hand try to spend all of my time being fearful. I love my trading models. They have served me very well, but that doesn’t mean that I follow them blindly. I never, ever, trust the market. Through the school of hard knocks, I learned that markets can always do the unexpected and they can always push prices beyond all reason and sanity. So I spend all my day passing up, rather than taking trades.
On any given day I must pass up at least 5 to 10 perfectly good opportunities to make money. Why? Maybe the price action looks a little too violent. Maybe there is news just a few hours ahead. Maybe I already have a very similar trade on the books and I don’t need to double my risk. Maybe the market just missed my entry price which happens so frequently that if I could bottle that frustration I would make my own line of cologne.
I’ve mentioned many times before that you can either predetermine your entries or your exits, but you can’t do both. I focus on entries because I can’t predermine exits. I exit early almost every time because of fear. Is that stupid? Maybe. It’s certainly easier to make 10 pips from one trade than to wring 10 pips from 5 trades that you closed out too soon. But you need to focus on the goal.
What’s the goal?
The goal is to make 10 pips moron!
Neither the market, nor your mother nor your family cares how you made your 10 pips. They just care that it was done.
In the very turbulent markets of this past week I’ve been running two accounts side by side. In my master account I’ve been trading like the meekest of accountants, blowing out of trades at any sign of trouble. In my beta account I just let it ride. My beta account had some really nice swings -- up as much as 2% on some days. Like the guy who hit 5 blackjack hands in row, I was living large!
But by the end of the week, guess which account was ahead? That’s right in real life the meek little accountant beats the big swinging d-ck every time. Because in real life lottery is for suckers and real money is made by the insurance companies who spend their every waking moment making sure they don’t lose.
  • #19,298
  • Jun 1, 2018 9:33pm Jun 1, 2018 9:33pm
Quoting Boulder
{quote} Thank you Gator for your good advice. The one area that I try to improve on is to let my gains ran. I'm not able to do that well. I'm always working on it.... But i would like to share one of the articles that I saved a year ago...this is more like me.. how I trade like accountants.. because I am always afraid to lose... 99% of Traders Can Do Better If They Just Do This by Boris Schlossberg Everyone wants to be a big swinging d-ck. Hollywood is full of stories of an underdog who takes on...
hold this thought...
those who can, do. those who cant, talk about those who can
  • #19,299
  • Jun 1, 2018 9:39pm Jun 1, 2018 9:39pm
Quoting gatorinla
{quote} hold this thought...
ok.. I don't want you think I don't respect your opinion. I love your advice , you know that.. but I have proved history to show this method works too... more my style, especially since i don't have your knowledge to pinpoint the price levels...
  • #19,300
  • Jun 1, 2018 9:49pm Jun 1, 2018 9:49pm
Quoting Boulder
{quote} ok.. I don't want you think I don't respect your opinion. I love your advice , you know that.. but I have proved history to show this method works too... more my style, especially since i don't have your knowledge to pinpoint the price levels...
hold that thought,, it will come.. 1446
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those who can, do. those who cant, talk about those who can
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Molaro