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EURUSD only

  • #113,441
  • Aug 12, 2020 10:54am Aug 12, 2020 10:54am
Quoting Said1
{quote} But if most traders go short the price should go down?
Big banks are controlling the marked.

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  • #113,442
  • Aug 12, 2020 10:59am Aug 12, 2020 10:59am
Quoting Said1
{quote} But if most traders go short the price should go down?
No Sir,

Our trades are just a fraction of the big Boyz, They drive price and we follow along.

Cheers.
Trade to trade another day
  • #113,443
  • Aug 12, 2020 11:03am Aug 12, 2020 11:03am
Quoting Austyno
bulls target is 1.27618
First I thought that you might just forgot a "1". But then I remembered the butterfly...

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  • #113,444
  • Aug 12, 2020 11:13am Aug 12, 2020 11:13am
Thank you everyone.
I need help Im currently loosing big on EURUSD (I have a big sell position at 1.172) which I know is a huge mistake to take that much risk
I'm currently loosing 40% of my account
is there any chance for eurusd to go down and touch 1.172, any recommendations on what I should do rn?
  • #113,445
  • Aug 12, 2020 11:15am Aug 12, 2020 11:15am
Quoting Said1
there's something I cant understand. till now all data (news) that came out today are positive for the USD, but still EURUSD went up. I was expecting it to go below 1.17 Does anyone have an explanation for this up movement today?
The main reason is that today ...the banks are really bullish on the Euro
Events like this offer banks the opportunity to buy - as there is volume and they can buy at cheap prices.
The reason I know this is because a few minutes after the release - the euro rallied
Look ahead, Macro=Direction, Levels & Structure = Entry
  • #113,446
  • Aug 12, 2020 11:17am Aug 12, 2020 11:17am
It is possible to revisit 1.1860.
  • #113,447
  • Aug 12, 2020 11:26am Aug 12, 2020 11:26am
Quoting Said1
is there any chance for eurusd to go down and touch 1.172, any recommendations on what I should do rn?
There is always a chance for everything. If the EURUSD stays within following slight inclined H1 channel, then it might get close to the 1.1720. Might...
And what should you do? If you cannot hedge and are out of money to short more... do as we all do: pray
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  • #113,448
  • Aug 12, 2020 11:26am Aug 12, 2020 11:26am
Quoting Said1
Thank you everyone. I need help Im currently loosing big on EURUSD (I have a big sell position at 1.172) which I know is a huge mistake to take that much risk I'm currently loosing 40% of my account is there any chance for eurusd to go down and touch 1.172, any recommendations on what I should do rn?
Anything is possible in forex.

Always take small risks.

Maybe we get a deal with trump tomorrow with covid19.

There is so much going one these days,and we don't have a crystal ball.
  • #113,449
  • Aug 12, 2020 11:32am Aug 12, 2020 11:32am
Quoting ursinho4711
{quote} There is always a chance for everything. If the EURUSD stays within following slight inclined H1 channel, then it might get close to the 1.1720. Might... And what should you do? If you cannot hedge and are out of money to short more... do as we all do: pray {image}
what do you mean by hedge?
do you mean I should open buy positions?
  • #113,450
  • Aug 12, 2020 11:42am Aug 12, 2020 11:42am
This week is a very profitable week for MM'S.
Yoh!
BARAK
  • #113,451
  • Aug 12, 2020 12:07pm Aug 12, 2020 12:07pm
Quoting Said1
{quote} what do you mean by hedge? do you mean I should open buy positions?
Yip. Or, when you think day's high has been reached, open another short with a higher amount (no, no martingale...) and close all close to break even.
  • #113,452
  • Aug 12, 2020 12:16pm Aug 12, 2020 12:16pm
Quoting Said1
Thank you everyone. I need help Im currently loosing big on EURUSD (I have a big sell position at 1.172) which I know is a huge mistake to take that much risk I'm currently loosing 40% of my account is there any chance for eurusd to go down and touch 1.172, any recommendations on what I should do rn?
for
its part of growing up,i lost many accounts by praying and hoping that market will turn around but it doesnt,one of my account is fully hedged and locked on eurusd pair. dont look for the short lived signals and setups in small time frames,small time frames are noises.Always look to Weekly EMa cross and rsi levels for revesals and take decision.dont panic,wait and see what PA tells you,if u find setup,enter on that direction only if u cant hedge.
  • #113,453
  • Aug 12, 2020 12:30pm Aug 12, 2020 12:30pm
Quoting Said1
Thank you everyone. I need help Im currently loosing big on EURUSD (I have a big sell position at 1.172) which I know is a huge mistake to take that much risk I'm currently loosing 40% of my account is there any chance for eurusd to go down and touch 1.172, any recommendations on what I should do rn?
close the position. You f**ked up, accept it, move on. Regardless of what happens once you close. It’s the correct thing todo.
A fool and his money are easily parted
  • #113,454
  • Aug 12, 2020 12:34pm Aug 12, 2020 12:34pm
Quoting anilamil
{quote} dude... try follow my open position : 1. buy eurusd , SL 1.1702 , TP 1.1858 2. sell usdchf , SL 9203 , TP 9067 this one is little bit hard but... 3. buy usdjpy SL 106.64 , TP 107.24 4. buy audusd SL 0.7139 , TP 0.7222 maybe one or two will hit SL, but 2 of them or maybe 3 should give enough profit.... hopefully
Dude, you're missing the objectives of Ata's thread.

Cheers.
Trade to trade another day
  • #113,455
  • Aug 12, 2020 12:48pm Aug 12, 2020 12:48pm
Quoting Traderview
{quote} Sold 1.1793
closed [email protected] with just 5 pips in hand. Entered long @ the same price. It looks like 1.1780 is holding very well for the bulls. For bears the daily close cannot be above 1.1760.
  • #113,456
  • Aug 12, 2020 1:22pm Aug 12, 2020 1:22pm
Quoting Said1
Thank you everyone. I need help Im currently loosing big on EURUSD (I have a big sell position at 1.172) which I know is a huge mistake to take that much risk I'm currently loosing 40% of my account is there any chance for eurusd to go down and touch 1.172, any recommendations on what I should do rn?
Never go with full account in some position even if you believe that you will win big.
Usually 20% maximum. This will save from losing 40% of your account next time.
Also be ready to accept the loss.
Don't base your strategy on what I'm saying
  • #113,457
  • Aug 12, 2020 1:51pm Aug 12, 2020 1:51pm
Quoting ABrokeTrader
{quote} Also be ready to accept the loss.
That's the problem. He's not willing to accept the loss, so simply hopes it will reverse. Classic case of a blown account on its way...
A fool and his money are easily parted
  • #113,458
  • Aug 12, 2020 2:02pm Aug 12, 2020 2:02pm
Quoting Said1
Thank you everyone. I need help Im currently loosing big on EURUSD (I have a big sell position at 1.172) which I know is a huge mistake to take that much risk I'm currently loosing 40% of my account is there any chance for eurusd to go down and touch 1.172, any recommendations on what I should do rn?
I never risk more than 3% of my account. You may need to learn some risk management strategies if you want to survive this game. Also take time to study the market and get a feel for its ebb and flow , without indicators. Study so you avoid emotional decisions. All the best.
  • #113,459
  • Aug 12, 2020 2:04pm Aug 12, 2020 2:04pm
Quoting ABrokeTrader
Also be ready to accept the loss.
Hope is on the way (H4):
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  • #113,460
  • Aug 12, 2020 2:33pm Aug 12, 2020 2:33pm
Quoting Said1
Thank you everyone. I need help Im currently loosing big on EURUSD (I have a big sell position at 1.172) which I know is a huge mistake to take that much risk I'm currently loosing 40% of my account is there any chance for eurusd to go down and touch 1.172, any recommendations on what I should do rn?
Look at a bigger time frame to decide, it does look like it’s going up but may have some retraces down to where you shorted, monitor monitor if not pray... make ur decision along the way then, probably close at a smaller loss. Never short at bottom or buy at top!
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