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  • #8,461
  • Nov 6, 2024 2:48pm Nov 6, 2024 2:48pm
Quoting Hamidehsan
i am in buys at 1.0914 should i cut it now? running a huge loss
assuming your new to trading too: don't overleverage, risk only a set % of your acc, always use a SL. It doesn't look good for your buy i'm sorry.
  • #8,462
  • Nov 6, 2024 8:30pm Nov 6, 2024 8:30pm
EUR/USD exchange rate is currently hovering around 1.0682. If it manages to break above the 1.0758 resistance level, it could potentially reach higher levels like 1.0781 and 1.0795-1.0800. However, the overall trend is still downward, so it's uncertain if it will break through.

On the other hand, if the rate falls below the 1.0713 & 1.0698 support levels, it could drop further to 1.0682 or even 1.0666.

Have a great day!

Daily volatility (range) 83 pips

Option expiries for Thursday: 1.0775 (EU1.22b), 1.0650 (EU780m), 1.0900 (EU736.7m) Source: financialjuice.com

Significant news - US Initial Jobless Claims, US Interest Rate Decision

1 hour
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Looking for profitable short term trades ...|
  • #8,463
  • Nov 6, 2024 8:33pm Nov 6, 2024 8:33pm
Quoting Pricilla
I had one pending order on 1.06750 it will clear or shall I cut the order
Why clear it? Isn't your analysis standing now?

Add your orders according to your analysis support and resistance levels and be informed for news at the calendar and for geopolitical news at news feeds.

Watch red news may create spikes and take out your trading stops more easily. Always use them.

Take care!
Looking for profitable short term trades ...|
  • #8,464
  • Nov 6, 2024 8:34pm Nov 6, 2024 8:34pm
Quoting Pricilla
I had one pending order on 1.06750 it will clear or shall I cut the order
if you can hold it without margin call, it will keep earning daily swap

normally if you manage to sell tops on weekly chart you always make more money than normal trading
Attached Image (click to enlarge)
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do not follow me 99.9999999% of times, rest you can lol
  • #8,465
  • Nov 6, 2024 8:42pm Nov 6, 2024 8:42pm
Quoting Pricilla
I had one pending order on 1.06750 it will clear or shall I cut the order
understand the concept of interest rate differential when trading currencies

this is why people trading USDJPY always make more money than ay other pair, they also earn swaps by selling JPY

in eurusd you earn swap by selling EUR

this is why expert traders who buy eurusd during trends do not hold the trade overnight
do not follow me 99.9999999% of times, rest you can lol
  • #8,466
  • Nov 6, 2024 8:44pm Nov 6, 2024 8:44pm
Quoting Js3mwtRc
{quote} Why clear it? Isn't your analysis standing now? Add your orders according to your analysis support and resistance levels and be informed for news at the calendar and for geopolitical news at news feeds. Watch red news may create spikes and take out your trading stops more easily. Always use them. Take care!
Sure sir .shall I wait or close the order sir
  • #8,467
  • Nov 6, 2024 8:47pm Nov 6, 2024 8:47pm
Quoting PatienceFx
{quote} if you can hold it without margin call, it will keep earning daily swap normally if you manage to sell tops on weekly chart you always make more money than normal trading {image}
I Am happy to learn from u all sir.in future I will be very careful about buy and selling sir
  • #8,468
  • Nov 6, 2024 8:56pm Nov 6, 2024 8:56pm
Quoting Pricilla
{quote} I Am happy to learn from u all sir.in future I will be very careful about buy and selling sir
when trading eurusd

  1. always use 0.01 lot size [ if trade goes wrong loss is tiny ]
  2. in a buy trend, book profits daily.
  3. in a sell trend leave it open.
  4. you can always take a fresh sell order when you spot a good sell setup in a sell trend.

this way sometimes i end up trading 200 lots and none of them is in loss

do not follow me 99.9999999% of times, rest you can lol
  • #8,469
  • Nov 6, 2024 9:16pm Nov 6, 2024 9:16pm
Quoting PatienceFx
{quote} when trading eurusd always use 0.01 lot size [ if trade goes wrong loss is tiny ] in a buy trend, book profits daily. in a sell trend leave it open. you can always take a fresh sell order when you spot a good sell setup in a sell trend. this way sometimes i end up trading 200 lots and none of them is in loss
Sure sir.i will keep it in the mind.i used in my further trading.thank u so much for your guidance sir.now shall I leave the order 1.06750 or shall close it.
  • #8,470
  • Nov 6, 2024 9:39pm Nov 6, 2024 9:39pm
Quoting Pricilla
I had one pending order on 1.06750 it will clear or shall I cut the order
Music being played by one of the greatest traders of our time.

Inserted Video


Stop Losses should be negligible, traders making money on the market use 1-2% stop losses, while people using stop losses from 3-8% leave the market without money in the long run. Only elite exceptions are able to use larger stop losses and make money in the long term. People who have not used stop losses for years have been standing in one place and have no chance to permanently increase their account balance.There always comes a day that wipes out their entire account.

https://www.thebalancemoney.com/day-...k-rule-1030858

https://tradeciety.com/24-statistics...ers-lose-money
  • #8,471
  • Nov 6, 2024 9:49pm Nov 6, 2024 9:49pm
Quoting Pricilla
{quote} Sure sir .shall I wait or close the order sir
Take ownership of your trades. Your decisions, from entry to exit, must be justified by your analysis and the market view
Looking for profitable short term trades ...|
  • #8,472
  • Nov 6, 2024 10:00pm Nov 6, 2024 10:00pm
Quoting Pricilla
I had one pending order on 1.06750 it will clear or shall I cut the order
Just saw the word pending order
If it is pending close it

If it is open keep it
do not follow me 99.9999999% of times, rest you can lol
  • #8,473
  • Nov 6, 2024 10:00pm Nov 6, 2024 10:00pm
Quoting Js3mwtRc
{quote} Take ownership of your trades. Your decisions, from entry to exit, must be justified by your analysis and the market view
Golden words
do not follow me 99.9999999% of times, rest you can lol
  • #8,474
  • Nov 7, 2024 12:01am Nov 7, 2024 12:01am
Quoting Pricilla
I had one pending order on 1.06750 it will clear or shall I cut the order
Just my two cents ... close the trade, and close ForexFactory too.

Open an account with BabyPips and complete all modules of the course, then work on a trading plan that works for you and your needs. Demo trade until you can consistently record a win-rate that matches your plan, maybe years. THEN reopen ForexFactory.

Don't you know that I'm loco ...
  • #8,475
  • Nov 7, 2024 12:15am Nov 7, 2024 12:15am
i sell 1.07538 its reverse now can i hold ,Kindly suggest
  • #8,476
  • Nov 7, 2024 12:18am Nov 7, 2024 12:18am
Quoting RedAllOver
{quote} Just my two cents ... close the trade, and close ForexFactory too. Open an account with BabyPips and complete all modules of the course, then work on a trading plan that works for you and your needs. Demo trade until you can consistently record a win-rate that matches your plan, maybe years. THEN reopen ForexFactory.
I agree with your view, forexfactory can be distracting sometimes. But Pricilla can visit here or another forum she finds value, not just nonsense!

BabyPips is a good place for learning.
Looking for profitable short term trades ...|
  • #8,477
  • Nov 7, 2024 12:36am Nov 7, 2024 12:36am
Quoting Js3mwtRc
{quote} I agree with your view, forexfactory can be distracting sometimes. But Pricilla can visit here or another forum she finds value, not just nonsense! BabyPips is a good place for learning.
Agreed amigo . I struggle with dyspraxia, so take a pretty hard line on distractions, particularly with such a complex subject.

BabyPips is not only one of the best learning resources (of any subject) on the internet but it's also FREE.

This is an EU thread so will get back on topic but one last word Pricilla, work every bit as hard if not harder on your psychology as you do on your technical skills, it is far more difficult to master. My go to is Trading in the Zone & Disciplined Trader by Mark Douglas.

Right, onto the EU ... Price appears to be respecting my resistance point @ 107710, but I suspect it may break this level and head towards the liquidity @ 107950. I wouldn't be surprised if the NY session pushes lower again, we'll see how the news flows.
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Don't you know that I'm loco ...
  • #8,478
  • Nov 7, 2024 12:50am Nov 7, 2024 12:50am
Quoting RedAllOver
{quote} Agreed amigo . I struggle with dyspraxia, so take a pretty hard line on distractions, particularly with such a complex subject. BabyPips is not only one of the best learning resources (of any subject) on the internet but it's also FREE. This is an EU thread so will get back on topic but one last word Pricilla, work every bit as hard if not harder on your psychology as you do on your technical skills, it is far more difficult to master. My go to is Trading in the Zone & Disciplined Trader by Mark Douglas. Right, onto the EU ......
Really sorry about your condition!

Free is the most good thing about babypips, everyone can learn!

Lets see if eu can rise higher, bears are going to enter again!
Looking for profitable short term trades ...|
  • #8,479
  • Nov 7, 2024 1:01am Nov 7, 2024 1:01am
It's all good dude, had it all my life and learned how to work with it many years ago .

Price is back testing resistance, I'm thinking it'll close above at some point
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Don't you know that I'm loco ...
  • #8,480
  • Nov 7, 2024 1:23am Nov 7, 2024 1:23am
Long 107582
SL 107557
TP 107713

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Don't you know that I'm loco ...
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