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EURUSD

  • #1,165,941
  • Edited 9:04am Apr 7, 2020 8:50am | Edited 9:04am
Quoting auricforecas
Entered BUY, just now.
Quoting auricforecas
{quote} EXITED, just now... TakeProfit. Not bad, 82PIPs... and very clean, had some lag but basically went straight up from entry.
Man, should have harvest more (110PIPs+), in retrospect but all considering, glad I did how much I did
Seems it was almost a perfect entry point, right at inflection point it seems. So till next time.
Can you afford to take that chance?
  • #1,165,942
  • Apr 7, 2020 9:13am Apr 7, 2020 9:13am
Quoting Coreg2004
{quote} ... {image}
...
Attached Image (click to enlarge)
Click to Enlarge Name: EU04.07.60M.a.png Size: 78 KB
Always trade your own plan...I don't provide trading signals.
  • #1,165,943
  • Apr 7, 2020 9:19am Apr 7, 2020 9:19am
Quoting Coreg2004
{quote} ... {image}
Good chart
  • #1,165,944
  • Apr 7, 2020 9:32am Apr 7, 2020 9:32am
great rejecyion from 1.09262 area
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: dxh1.png Size: 15 KB
Click to Enlarge Name: dx15.png Size: 22 KB
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yes yes yes
  • #1,165,945
  • Apr 7, 2020 9:33am Apr 7, 2020 9:33am
Quoting auricforecas
{quote} {quote} Man, should have harvest more (110PIPs+), in retrospect but all considering, glad I did how much I did Seems it was almost a perfect entry point, right at inflection point it seems. So till next time.
That was a good call.

What would be helpful is if you would give reasons why you feel it is a good place to make a trade. That way, if it works out in your favor (according to plan), it becomes educational and would eliminate the belief some might have that it was merely luck.
Learn from your mistakes and march on.
  • #1,165,946
  • Apr 7, 2020 9:42am Apr 7, 2020 9:42am
Quoting Moty
{quote} No, I went short because I believed that the dx trend line would hold, but it didn't . I hoped daily s3 will hold , but he didn't either. I hoped that eu ressistences would hold, neither do they . now I believe it will go down, there's a limit to all the trickery {image} {image}
Moty, you know well the EU is in critical point right now (borderline for potential W_4???) ... still possible (a)(b)(c) becomes 12345
Attached Image (click to enlarge)
Click to Enlarge Name: EU04.07.60M.png Size: 91 KB
Always trade your own plan...I don't provide trading signals.
  • #1,165,947
  • Edited 11:53am Apr 7, 2020 11:29am | Edited 11:53am
Attached Image (click to enlarge)
Click to Enlarge Name: euh1.png Size: 26 KB
Attached Image (click to enlarge)
Click to Enlarge Name: eu15.png Size: 38 KB
yes yes yes
  • #1,165,948
  • Apr 7, 2020 12:21pm Apr 7, 2020 12:21pm
baby berrish flag
Attached Image (click to enlarge)
Click to Enlarge Name: eu15.png Size: 43 KB
yes yes yes
  • #1,165,949
  • Apr 7, 2020 1:16pm Apr 7, 2020 1:16pm
Quoting here2there
{quote} That was a good call. What would be helpful is if you would give reasons why you feel it is a good place to make a trade. That way, if it works out in your favor (according to plan), it becomes educational and would eliminate the belief some might have that it was merely luck.
The most important is that how to manage the risk. There is no wrong in your entry, it just the entry that you think right from what u have learned. But how did u manage to deal with the risk of that entry is the main issue. Loss or gain was normal in trading.
wise man say, only fools rush in
  • #1,165,950
  • Apr 7, 2020 1:22pm Apr 7, 2020 1:22pm
Quoting eastrader
{quote} ...There is no wrong in your entry, it just the entry that you think right from what u have learned...
If there were no wrong in an entry, then nobody would be losing! The idea is to enter when it makes sense to do so (high probability trading setups), which means you need to have valid reasons for entering a trade. Otherwise, trading is just a roll of the dice.

If trading is nothing but a gamble to you, then why bother with technical analysis?
Learn from your mistakes and march on.
  • #1,165,951
  • Apr 7, 2020 1:25pm Apr 7, 2020 1:25pm
Quoting here2there
{quote} If there were no wrong in an entry, then nobody would be losing! The idea is to enter when it makes sense to do so (high probability trading setups), which means you need to have valid reasons for entering a trade. Otherwise, trading is just a roll of the dice. If trading is nothing but a gamble to you, then why bother with technical analysis?
Maybe and only maybe because he is just a gambler and not a trader? Maybe he thinks he knows how to trade but actually doesn't? Maybe all this time, he thought he knew how to trade, thought that he knew a lot about trading, but turns out he is still gambling and did not get this business? Maybe.
  • #1,165,952
  • Apr 7, 2020 1:26pm Apr 7, 2020 1:26pm
Quoting here2there
{quote} If there were no wrong in an entry, then nobody would be losing! The idea is to enter when it makes sense to do so (high probability trading setups), which means you need to have valid reasons for entering a trade. Otherwise, trading is just a roll of the dice. If trading is nothing but a gamble to you, then why bother with technical analysis?
Thats the wrong answer, the entry is not the reason of gain or loss. The entry should be a gain or loss.
wise man say, only fools rush in
  • #1,165,953
  • Apr 7, 2020 1:31pm Apr 7, 2020 1:31pm
Quoting eastrader
{quote} Thats the wrong answer, the entry is not the reason of gain or loss. The entry should be a gain or loss.
There is a such thing as a bad entry. If the trade turns out to be a loss, then it's up to the trader to figure out what went wrong and learn from his or her mistake, so as not to repeat it. The goal is to find high probability trading setups, not just to place a trade and hope it works out for the best.
Learn from your mistakes and march on.
  • #1,165,954
  • Apr 7, 2020 1:36pm Apr 7, 2020 1:36pm
Quoting here2there
{quote} There is a such thing as a bad entry. If the trade turns out to be a loss, then it's up to the trader to figure out what went wrong and learn from his or her mistake, so as not to repeat it. The goal is to find high probability trading setups, not just to place a trade and hope it works out for the best.
There u are. That was a very good opinion. Probability is everything. You go ahead with the best probability entry but still there is a loss. Its nothing wrong with the entry. But with the risk that could be accepted. This is the stigma in every traders.
wise man say, only fools rush in
  • #1,165,955
  • Apr 7, 2020 1:46pm Apr 7, 2020 1:46pm
Quoting eastrader
{quote} There u are. That was a very good opinion. Probability is everything. You go ahead with the best probability entry but still there is a loss. Its nothing wrong with the entry. But with the risk that could be accepted. This is the stigma in every traders.
I see where you are coming from, but I don't entirely agree with you.

I believe there is a such thing as a wrong entry. I know because I have made many wrong entries as a trader. I know they were wrong entries because I took the time to examine them to see what I could have done to avoid them.

On the other hand, you can have the right entry and still suffer a loss due to having a tight stop loss.
Learn from your mistakes and march on.
  • #1,165,956
  • Apr 7, 2020 1:50pm Apr 7, 2020 1:50pm
Quoting here2there
{quote} I see where you are coming from, but I don't entirely agree with you. I believe there is a such thing as a wrong entry. I know because I have made many wrong entries as a trader. I know they were wrong entries because I took the time to examine them to see what I could have done to avoid them. On the other hand, you can have the right entry and still suffer a loss due to having a tight stop loss.
Ok than, hope u could find what u have search.
wise man say, only fools rush in
  • #1,165,957
  • Apr 7, 2020 1:59pm Apr 7, 2020 1:59pm
Quoting eastrader
{quote} Ok than, hope u could find what u have search.
I know what to do, but I don't always do what I know. My greatest need as a trader is to master my emotions.
Learn from your mistakes and march on.
  • #1,165,958
  • Apr 7, 2020 2:32pm Apr 7, 2020 2:32pm
Quoting here2there
{quote} I see where you are coming from, but I don't entirely agree with you. I believe there is a such thing as a wrong entry. I know because I have made many wrong entries as a trader. I know they were wrong entries because I took the time to examine them to see what I could have done to avoid them. On the other hand, you can have the right entry and still suffer a loss due to having a tight stop loss.
There is a guy on twitter, he seems to be trading EURUSD only (or 95% of the time). He is ALWAYS short euro, never took a single long positions the past months.
His entries are bad, he adds on the way up, gets drawdown.

But the thing is that he has such a nice money managment, he knows when to cut (a part of this position) then add back higher.

At the end he always end up in profits.

I find his way of trading very bad, but at the end he is profitable. So as you can see any entry can be or bad, depending on the way you manage it
COT: The precious data ignored
  • #1,165,959
  • Apr 7, 2020 2:48pm Apr 7, 2020 2:48pm
Quoting kuroro001
{quote} There is a guy on twitter, he seems to be trading EURUSD only (or 95% of the time). He is ALWAYS short euro, never took a single long positions the past months. His entries are bad, he adds on the way up, gets drawdown. But the thing is that he has such a nice money managment, he knows when to cut (a part of this position) then add back higher. At the end he always end up in profits. I find his way of trading very bad, but at the end he is profitable. So as you can see any entry can be or bad, depending on the way you manage it
Just think of how much more profitable he would be if he only took high probability trade setups, and how much less stress he would have to deal with trying to make a bad entry work out in his favor.

He must have a big account to deal with the drawdown.
Learn from your mistakes and march on.
  • #1,165,960
  • Apr 7, 2020 2:48pm Apr 7, 2020 2:48pm
Quoting kuroro001
{quote} There is a guy on twitter, he seems to be trading EURUSD only (or 95% of the time). He is ALWAYS short euro, never took a single long positions the past months. His entries are bad, he adds on the way up, gets drawdown. But the thing is that he has such a nice money managment, he knows when to cut (a part of this position) then add back higher. At the end he always end up in profits. I find his way of trading very bad, but at the end he is profitable. So as you can see any entry can be or bad, depending on the way you manage it
Watch this small documentary. This trader if you can call him that did the same thing. He blew all his accounts eventually.

Inserted Video


The problem with that useless strategy is that it is a guaranteed failure. Adding for example sell position while the market is going up is not a money management. It is a gamble. If you are adding sell while market is going up, what makes trader think that the market will come back down and pass the price where they sold already? Also who knows when the price will come back down to the price where you sold, and when is the question? By that time, you would have your account into draw down and margin call and all the money would be loss. Not a good strategy. It is a guaranteed failure. Either way watch the video I put and you will get what I am saying.

Watch the video how he is adding sell positions on a 5min TF but you can tell that earlier pattern showed a buy signal. He could've of add so many buy positions and make a lot of money. Like I said the strategy is a guaranteed failure.
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