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I haven't got a clue!

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  • #101
  • Jan 8, 2007 11:46am Jan 8, 2007 11:46am
When I posted the above I looked at the other screen and EURUSD dropped 6 pips and hit TP for $10 on my short. Was the forex God trying to tell me something?

And now it's back to exactly where it was when I just finished typing the previous.


Do not focus on making money; focus on protecting what you have.
  • #102
  • Edited 11:50am Jan 8, 2007 11:49am | Edited 11:50am
Quoting Why Oh Why
Failure to continue past my pivot of 3028 on 4 occasions in the last 20 minutes opens up a short at that level for 10 pips. IMO we could still see further consolidation in a 20 pip range before the next push upwards. I just hope it hits TP quickly.
Thanks forex God.
Do not focus on making money; focus on protecting what you have.
  • #103
  • Jan 8, 2007 11:58am Jan 8, 2007 11:58am
<table border="0" cellpadding="3" cellspacing="1"><tbody><tr align="left"><td colspan="14">Open Trades:</td></tr> <tr align="center" bgcolor="#c0c0c0"> <td>Ticket</td><td nowrap="nowrap">Open Time</td><td>Type</td><td>Lots</td><td>Item</td> <td>Price</td><td>S / L</td><td>T / P</td><td> </td> <td>Price</td><td>Commission</td><td>Taxes</td><td>Swap</td><td>Profit</td></tr> <tr align="right"><td>2061996277</td><td nowrap="nowrap">2007.01.05 12:03</td><td>buy</td><td style="">0.10</td><td>eurusd</td><td style="">1.3103</td><td style="">0.0000</td><td style="">1.3113</td><td class="msdate" nowrap="nowrap"> </td><td style="">1.3026</td><td style="">0.00</td><td style="">0.00</td><td style="">-0.66</td><td style="">-77.00</td></tr> <tr align="right" bgcolor="#e0e0e0"><td>2061996544</td><td nowrap="nowrap">2007.01.05 13:20</td><td>buy</td><td style="">0.10</td><td>eurusd</td><td style="">1.3094</td><td style="">0.0000</td><td style="">1.3104</td><td class="msdate" nowrap="nowrap"> </td><td style="">1.3026</td><td style="">0.00</td><td style="">0.00</td><td style="">-0.66</td><td style="">-68.00</td></tr> <tr align="right"><td>2061997465</td><td nowrap="nowrap">2007.01.05 15:36</td><td>buy</td><td style="">0.10</td><td>eurusd</td><td style="">1.3021</td><td style="">0.0000</td><td style="">1.3051</td><td class="msdate" nowrap="nowrap"> </td><td style="">1.3026</td><td style="">0.00</td><td style="">0.00</td><td style="">-0.66</td><td style="">5.00</td></tr> <tr align="right"> <td colspan="10"> </td> <td style="">0.00</td> <td style="">0.00</td> <td style="">-1.98</td> <td style="">-140.00</td> </tr> <tr><td colspan="10"> </td><td colspan="2" align="right">Floating P/L:</td> <td colspan="2" title="Commission + Swap + Profit" style="" align="right">-141.98</td></tr></tbody></table>
Do not focus on making money; focus on protecting what you have.
  • #104
  • Jan 8, 2007 12:00pm Jan 8, 2007 12:00pm
3036 now. Still short potential if it drops back more than 10.
Do not focus on making money; focus on protecting what you have.
  • #105
  • Jan 8, 2007 12:10pm Jan 8, 2007 12:10pm
The pair is challenging a declining trend line & the 30-min 50MA is turning up. It's going up but I think I may have time for a further quick 10 pips.

http://www.tradingcentral.com/chart/...0108184858.GIF

Do not focus on making money; focus on protecting what you have.
  • #106
  • Edited 12:54pm Jan 8, 2007 12:49pm | Edited 12:54pm
Balance grown to $834 and a $447 free margin. Recently opened short now a $10 loss sadly.
Do not focus on making money; focus on protecting what you have.
  • #107
  • Jan 8, 2007 12:58pm Jan 8, 2007 12:58pm
The $10 loss is now a $4 open profit in between posts. Just another 6 pip drop please then you can go up all you want. That will be my last short for a while on EURUSD. Promise.
Do not focus on making money; focus on protecting what you have.
  • #108
  • Jan 8, 2007 1:06pm Jan 8, 2007 1:06pm
Thanks for obliging. 3025 hit TP for 10 pips. Now please turn around and continue the ascent. 2 successful 10 pip scalps in 2 hours. Not as good as the masters - but then I haven't a clue!
Do not focus on making money; focus on protecting what you have.
  • #109
  • Jan 8, 2007 1:53pm Jan 8, 2007 1:53pm
I have none. No SL. In effect I am risking the account with a margin call every day.

EURUSD at time of post is 3021. I have open long lots at 3021, 3094 and 3103. TP at 3051, 3104 and 3113 respectively.

When the TP is hit now on all 3 sometime this week I will yield a return of 50 pips turning a loss around currently of 156 pips. 3021 to 3113 - my last TP - is a difference of 92 pips. In the meantime I'll short all the way up to my targets around pivot points.

All comments are welcome on this "strategy".
Do not focus on making money; focus on protecting what you have.
  • #110
  • Jan 8, 2007 2:06pm Jan 8, 2007 2:06pm
Quoting Why Oh Why
I have none. No SL. In effect I am risking the account with a margin call every day.

EURUSD at time of post is 3021. I have open long lots at 3021, 3094 and 3103. TP at 3051, 3104 and 3113 respectively.

When the TP is hit now on all 3 sometime this week I will yield a return of 50 pips turning a loss around currently of 156 pips. 3021 to 3113 - my last TP - is a difference of 92 pips. In the meantime I'll short all the way up to my targets around pivot points.

All comments are welcome on this "strategy".

so you trade with wide stop ?

profit to loss ration looks bad....

I like fading on piv point however
Pipology 101 student
  • #111
  • Jan 8, 2007 2:08pm Jan 8, 2007 2:08pm
My view is we're near the bottom for the low 2965 for the next few months and the uptrend will peak at 3165.

Quoting Why Oh Why
"I doubt we'll see any big moves either way in the first 1/2 of 2007. You'll have to watch support and resistance and grab some pips when they break. 200 pips either way from where the Euro and GBP are now thru the first 1/2 of 2007."

I share NewstraderFX's opinion on this. If we are right then with a bit of luck and a maximum of three* positions open at any one time on the account I'm using here may produce good results. We'll see. Now I've written that I wonder if the account will blow up in week 1 of the new year? Current open loss $50.
The original post above was made here.

*Three positions have now been amended to four as the account balance grows.
Do not focus on making money; focus on protecting what you have.
  • #112
  • Jan 8, 2007 2:12pm Jan 8, 2007 2:12pm
Quoting amanuel
so you trade with wide stop ?

profit to loss ration looks bad....

I like fading on piv point however
Actually no stop, amanuel. And profit to loss ratio is awful.
Do not focus on making money; focus on protecting what you have.
  • #113
  • Jan 8, 2007 2:12pm Jan 8, 2007 2:12pm
Quoting Why Oh Why
My view is we're near the bottom for the low 2965 for the next few months and the uptrend will peak at 3165.



The original post above was made here.

*Three positions have now been amended to four as the account balance grows.
I agree, revarsal coming soon- it has to.

I can see there is a fight going on to keep euro down but...( lots of spikes )
Pipology 101 student
  • #114
  • Jan 8, 2007 2:14pm Jan 8, 2007 2:14pm
By the way I lost my 500$ in 2 days- talk about learning a lesson..

reason #1 - stop loss was wide or i get out too soon

talk about chaos
Pipology 101 student
  • #115
  • Jan 8, 2007 2:28pm Jan 8, 2007 2:28pm
Quoting amanuel
By the way I lost my 500$ in 2 days- talk about learning a lesson..

reason #1 - stop loss was wide or i get out too soon

talk about chaos
Maybe too many positions open at the same time as well? I haven't had a margin call yet without any SL. But I do limit myself to 4 positions and a maximum of 3 lots long or 3 lots short. I like either side of a pivot - 1 short 1 long. Max 2 of each in that scenario.

I get out too soon regularly - but a profit is a profit.
Do not focus on making money; focus on protecting what you have.
  • #116
  • Jan 8, 2007 3:48pm Jan 8, 2007 3:48pm
Quoting Why Oh Why
Maybe too many positions open at the same time as well? I haven't had a margin call yet without any SL. But I do limit myself to 4 positions and a maximum of 3 lots long or 3 lots short. I like either side of a pivot - 1 short 1 long. Max 2 of each in that scenario.

I get out too soon regularly - but a profit is a profit.
Does you broker have margin debit ? margin debit and wipe you out.

Correct me if I am wrong.
What broker do you use ?
Pipology 101 student
  • #117
  • Jan 8, 2007 4:17pm Jan 8, 2007 4:17pm
Quoting amanuel
Does you broker have margin debit ? margin debit and wipe you out.

Correct me if I am wrong.
What broker do you use ?
Yes. Margin debit is known as swap at FXDD who I trade through. You can see it on the trading statement here. It's the first post of this thread and does have a significant effect on long positions with close TP.

I don't aim to hold positions for more than a week with such a small TP - ideally a few hours - so I don't think it can wipe me out and shorts balance it any way. My trades are pretty evenly split.
Do not focus on making money; focus on protecting what you have.
  • #118
  • Jan 8, 2007 4:49pm Jan 8, 2007 4:49pm
Quoting amanuel
I agree, revarsal coming soon- it has to.
It has to? Is that what's in the rule book?
  • #119
  • Jan 8, 2007 4:57pm Jan 8, 2007 4:57pm
Quoting twinchell
It has to? Is that what's in the rule book?
You mean you haven't read it twinchell!
Do not focus on making money; focus on protecting what you have.
  • #120
  • Jan 9, 2007 12:54am Jan 9, 2007 12:54am
Free margin $334. A high of 3047 in the Asian session nearly hit TP of 3051 on one lot which is now back down to a profit of $14. Have a great day everyone.
Do not focus on making money; focus on protecting what you have.
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