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I haven't got a clue!

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  • #141
  • Jan 9, 2007 11:09am Jan 9, 2007 11:09am
EURUSD Current open loss $238.
Do not focus on making money; focus on protecting what you have.
  • #142
  • Jan 9, 2007 11:52am Jan 9, 2007 11:52am
Pivot now 2975. The 30-min RSI is oversold & the pair is approaching an horizontal support area, this might favour a limited recovery which might sort out one of my lots at 3049 for 10.

http://www.tradingcentral.com/chart/...0109171536.GIF

Do not focus on making money; focus on protecting what you have.
  • #143
  • Jan 9, 2007 11:28pm Jan 9, 2007 11:28pm
Quoting Why Oh Why
3019 short hit TP for 10 pips. Key support at 3002. I feel like going long again but that would break my rule of not having 4 longs open (Max is 3). It'll probably cost me.
Well. well. I'm glad I have some rules! 2969 currently with an open loss of $333 and free margin of $183.
Do not focus on making money; focus on protecting what you have.
  • #144
  • Jan 9, 2007 11:31pm Jan 9, 2007 11:31pm
Account balance $909, free margin $316 and open loss $331.
Do not focus on making money; focus on protecting what you have.
  • #145
  • Jan 9, 2007 11:35pm Jan 9, 2007 11:35pm
Due out in less than 7 hours could make or break this account.
Do not focus on making money; focus on protecting what you have.
  • #146
  • Jan 9, 2007 11:46pm Jan 9, 2007 11:46pm
Trade Balance coming out of the U.S. Market tends to care a lot less about this report than it cares for the GBP Trade Balance. Last month we had a huge shock in the trade balance out of the U.S. It came out deviating by over 4 billion on the positive side.

This month, the expectation is that this report will come out at -60 billion or so. If it comes out at -62 billion or more negative, not only will it be 2 billion worse than consensus, but it would also register a gap from previous release by almost 4 billion, so it could help me.

If it comes out at -58 billion or less negative, I'll go short on EURUSD, since it would be even a more positive reading than last month by almost a billion. My expectations are at least 30 pips on this report and as much as 80 pips or more best (or worst!) case scenario. Market sentiment will play a big role. Don't be surprised if the price goes back to the pre-release price shortly after the report, and then makes a huge move.
Do not focus on making money; focus on protecting what you have.
  • #147
  • Jan 9, 2007 11:58pm Jan 9, 2007 11:58pm
Free margin $467 and open loss $311.
Do not focus on making money; focus on protecting what you have.
  • #148
  • Jan 10, 2007 12:46am Jan 10, 2007 12:46am
I enjoy reading your journal, why oh why!

am rooting for you
Use a system that works for YOU
  • #149
  • Jan 10, 2007 12:54am Jan 10, 2007 12:54am
Nice of you to say. Judging by the views I can see a number of members drop by once a day and have become regulars for as long as it can last. I hope to see you again soon.

Have a great day.
Do not focus on making money; focus on protecting what you have.
  • #150
  • Jan 10, 2007 1:22am Jan 10, 2007 1:22am
<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="">1.2983</td><td style="">0.00</td><td style="">0.00</td><td style="">-2.08</td><td style="">-120.00</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="">1.2983</td><td style="">0.00</td><td style="">0.00</td><td style="">-2.08</td><td style="">-111.00</td></tr> <tr align="right"><td>2062010272</td><td nowrap="nowrap">2007.01.09 10:19</td><td>buy</td><td style="">0.10</td><td>eurusd</td><td style="">1.3039</td><td style="">0.0000</td><td style="">1.3049</td><td class="msdate" nowrap="nowrap"> </td><td style="">1.2983</td><td style="">0.00</td><td style="">0.00</td><td style="">-0.71</td><td style="">-56.00</td></tr> <tr align="right" bgcolor="#e0e0e0"><td>2062016029</td><td nowrap="nowrap">2007.01.10 07:28</td><td>sell</td><td style="">0.10</td><td>eurusd</td><td style="">1.2969</td><td style="">0.0000</td><td style="">1.2959</td><td class="msdate" nowrap="nowrap"> </td><td style="">1.2985</td><td style="">0.00</td><td style="">0.00</td><td style="">0.00</td><td style="">-16.00</td></tr> <tr align="right"><td>2062016259</td><td nowrap="nowrap">2007.01.10 07:58</td><td>sell</td><td style="">0.10</td><td>eurusd</td><td style="">1.2983</td><td style="">0.0000</td><td style="">1.2973</td><td class="msdate" nowrap="nowrap"> </td><td style="">1.2985</td><td style="">0.00</td><td style="">0.00</td><td style="">0.00</td><td style="">-2.00</td></tr> <tr align="right"> <td colspan="10"> </td> <td style="">0.00</td> <td style="">0.00</td> <td style="">-4.87</td> <td style="">-305.00</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">-309.87</td></tr></tbody></table>
Do not focus on making money; focus on protecting what you have.
  • #151
  • Jan 10, 2007 6:02am Jan 10, 2007 6:02am
<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="">1.2997</td><td style="">0.00</td><td style="">0.00</td><td style="">-2.08</td><td style="">-106.00</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="">1.2997</td><td style="">0.00</td><td style="">0.00</td><td style="">-2.08</td><td style="">-97.00</td></tr> <tr align="right"><td>2062010272</td><td nowrap="nowrap">2007.01.09 10:19</td><td>buy</td><td style="">0.10</td><td>eurusd</td><td style="">1.3039</td><td style="">0.0000</td><td style="">1.3049</td><td class="msdate" nowrap="nowrap"> </td><td style="">1.2997</td><td style="">0.00</td><td style="">0.00</td><td style="">-0.71</td><td style="">-42.00</td></tr> <tr align="right" bgcolor="#e0e0e0"><td>2062016029</td><td nowrap="nowrap">2007.01.10 07:28</td><td>sell</td><td style="">0.10</td><td>eurusd</td><td style="">1.2969</td><td style="">0.0000</td><td style="">1.2959</td><td class="msdate" nowrap="nowrap"> </td><td style="">1.2999</td><td style="">0.00</td><td style="">0.00</td><td style="">0.00</td><td style="">-30.00</td></tr> <tr align="right"><td>2062016259</td><td nowrap="nowrap">2007.01.10 07:58</td><td>sell</td><td style="">0.10</td><td>eurusd</td><td style="">1.2983</td><td style="">0.0000</td><td style="">1.2973</td><td class="msdate" nowrap="nowrap"> </td><td style="">1.2999</td><td style="">0.00</td><td style="">0.00</td><td style="">0.00</td><td style="">-16.00</td></tr> <tr align="right"> <td colspan="10"> </td> <td style="">0.00</td> <td style="">0.00</td> <td style="">-4.87</td> <td style="">-291.00</td> </tr> <tr><td colspan="10">Unlikely to trade further until something hits TP. The ideal would be a drop to 2959 and then a reversal upwards. Currently 2998.
</td><td colspan="2" align="right">Floating P/L:</td> <td colspan="2" title="Commission + Swap + Profit" style="" align="right">-295.87</td></tr></tbody> </table>
Do not focus on making money; focus on protecting what you have.
  • #152
  • Edited 6:24am Jan 10, 2007 6:16am | Edited 6:24am
Quoting jest1081
Hi,

You have a very interesting thread. While i'd like to disagree with Phil on SLs, coz when you've been in it for so long, you'll realise that all these really depends on the trader, heck what the books are telling coz they help you on the road to success, but when you already know the road your walking on, its a really different level of trading. You are not wrong until you decide that you are wrong. On the other note, you dun need those SLs coz ur not worried abt blowing this account, yes but.......

Its also good to know that you will also wanna note abt admitting that some trades are just not meant to be... on a psychological level, when you are already down over a hundred pips, its good to know that it'll be better for you to eat the humble pie. Maybe your trade as right but your timing was just wrong...

Gd day and happy trading..yes trading should be fun, why trade if you don't have any passion for it?
My bold.

I'm more concerned about my current shorts because, IMO, the longs will hit TP in the life of this account. However, currently, my shorts today if they don't close at TP within the next 1 hour 20 minutes may be left outstanding for some time. Currently, I've got 2 long open which are both losing over a 100 pips each. But I'm not gonna eat humble pie just yet.

I guess I haven't decided that I'm wrong yet jest1081 but thanks for your view. Much appreciated.
Do not focus on making money; focus on protecting what you have.
  • #153
  • Jan 10, 2007 6:49am Jan 10, 2007 6:49am
Asian trading saw sizable stops removed on the break below 2970 and 2953 However, the emergence of central bank bids and option related interest (linked to 2950 option barriers) helped trading bounce.

Yet selling into the rebound strength was always expected and the early European bull-run was soon overcome by the standing supply into the 1.30 level. Talk of official sellers from the 3005 level back to 10 has also dissuaded buyers into the North American open and the price is holding near 1.3.

Solid two-way continues but a break above 3010 now looks needed to instigate decent follow-through with stops then found en-route to 3020. Should 3010 remain intact then a return to the 2975/85 comfort area is likely. 13:30 GMT - in 35 minutes - is the release of the latest US Trade data (Nov), expected at a deficit of USD 59.9Bln, is widely expected to garner the direction for the pair for the latter part of the session. Elsewhere, the 1.2900 & 1.3000 strikes could also impact trading into the NY cut at 15:00 GMT.
Do not focus on making money; focus on protecting what you have.
  • #154
  • Jan 10, 2007 7:19am Jan 10, 2007 7:19am
IMO we will see a drop of about 30 pips which will sort out both my shorts at TP. Wishfull thinking? Maybe. But the greenback bulls are already shorting EURUSD. Some people may already now the numbers in the lockdown.
Do not focus on making money; focus on protecting what you have.
  • #155
  • Jan 10, 2007 7:31am Jan 10, 2007 7:31am
Let's hope there's some follow through. Spreads widened and both shorts still open.
Do not focus on making money; focus on protecting what you have.
  • #156
  • Jan 10, 2007 7:39am Jan 10, 2007 7:39am
One short hit TP for 10 pips. The other's at break even. Bit more follow through please forex Gods.
Do not focus on making money; focus on protecting what you have.
  • #157
  • Jan 10, 2007 7:58am Jan 10, 2007 7:58am

<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="">1.2974</td><td style="">0.00</td><td style="">0.00</td><td style="">-2.08</td><td style="">-129.00</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="">1.2974</td><td style="">0.00</td><td style="">0.00</td><td style="">-2.08</td><td style="">-120.00</td></tr> <tr align="right"><td>2062010272</td><td nowrap="nowrap">2007.01.09 10:19</td><td>buy</td><td style="">0.10</td><td>eurusd</td><td style="">1.3039</td><td style="">0.0000</td><td style="">1.3049</td><td class="msdate" nowrap="nowrap"> </td><td style="">1.2974</td><td style="">0.00</td><td style="">0.00</td><td style="">-0.71</td><td style="">-65.00</td></tr> <tr align="right" bgcolor="#e0e0e0"><td>2062016029</td><td nowrap="nowrap">2007.01.10 07:28</td><td>sell</td><td style="">0.10</td><td>eurusd</td><td style="">1.2969</td><td style="">0.0000</td><td style="">1.2959</td><td class="msdate" nowrap="nowrap"> </td><td style="">1.2976</td><td style="">0.00</td><td style="">0.00</td><td style="">0.00</td><td style="">-7.00</td></tr> <tr align="right"> <td colspan="10"> </td> <td style="">0.00</td> <td style="">0.00</td> <td style="">-4.87</td> <td style="">-321.00</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">-325.87</td></tr></tbody></table>
Do not focus on making money; focus on protecting what you have.
  • #158
  • Jan 10, 2007 8:05am Jan 10, 2007 8:05am
Quoting Why Oh Why
13:30 GMT - in 35 minutes - is the release of the latest US Trade data (Nov), expected at a deficit of USD 59.9Bln, is widely expected to garner the direction for the pair for the latter part of the session. Elsewhere, the 1.2900 & 1.3000 strikes could also impact trading into the NY cut at 15:00 GMT.
Anyone agree?
Do not focus on making money; focus on protecting what you have.
  • #159
  • Jan 10, 2007 8:41am Jan 10, 2007 8:41am
Quoting Why Oh Why
... a return to the 2975/85 comfort area is likely.
I only want another 16 pips and I'd be a lot happier.
Do not focus on making money; focus on protecting what you have.
  • #160
  • Edited 9:00am Jan 10, 2007 8:55am | Edited 9:00am
Quoting Why Oh Why
I only want another 16 pips and I'd be a lot happier.
Exited 2969 for 6 pips. A 12 pip drop got me out of trouble. Hmm... just looked - while typing it would have hit my TP for 10. Currently 2956. I guess what I posted above is working out. I was just happy to get out. I favour being long EURUSD. IMO we're right down at the bottom end of the range at the moment.
Do not focus on making money; focus on protecting what you have.
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