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  • #8,401
  • May 5, 2008 12:31pm May 5, 2008 12:31pm
Quoting BoHan
i'm holding on since i had already got my stops ready, prepared to risk. no risk no return yea ?
Are you still holding short?What is your TP?
  • #8,402
  • May 5, 2008 12:34pm May 5, 2008 12:34pm
  •  BoHan
  • | Joined Nov 2007 | Status: Retracements are my forte! | 73 Posts
Quoting Izham
Are you still holding short?What is your TP?
my TP's at 1.5425, still far away at the bottom of the range. shorted at 1.5500. i'll never assume a change in trend until enough evidences indicate a trend change. H4 still showing down down down.
Start Young. Think Big. Stick to It.
  • #8,403
  • May 5, 2008 12:36pm May 5, 2008 12:36pm
Bohan,

Just wondering. It seems like a lot of risk (50pips) for the chance to make profit (75 pips) Is that working?

Good call to the fellow that spotted on going support with the fibos at 1.5540.
  • #8,404
  • May 5, 2008 12:41pm May 5, 2008 12:41pm
  •  BoHan
  • | Joined Nov 2007 | Status: Retracements are my forte! | 73 Posts
Quoting forextrader0
Bohan,

Just wondering. It seems like a lot of risk (50pips) for the chance to make profit (75 pips) Is that working?

Good call to the fellow that spotted on going support with the fibos at 1.5540.
yea in a way, but cus even if its 50pips its a 2% risk on my account for the trade. cus 2% risk is still acceptable for me , i'm not too sure bout u guys here yea!
Start Young. Think Big. Stick to It.
  • #8,405
  • May 5, 2008 12:50pm May 5, 2008 12:50pm
Most might not agree with my closing, but my theory was that 155 was very strong resistance, and i was working with an rr of 5:1. SL was at 55.10, and TP at 54.50. IMHO, it was a good trade, but didnt think the reason was good enough to stay in after it broke through 155 although there may be plenty good reasons to stay in the short such as
1. 55.12 -20 is around the top of a channel
2. resistance on daily 4/2, 4/3, and 4/30 around 55.20
3. 23% (not a very good reason) on daily from high off 160

Still i dont like it so im out. Good luck all shorts!!!
  • #8,406
  • May 5, 2008 1:18pm May 5, 2008 1:18pm
It's hit my SL 1.5520
  • #8,407
  • May 5, 2008 1:22pm May 5, 2008 1:22pm
I think you did the right decision. I'm long, targeting to 1.57, 50 fib retracement.

R

Quoting Erica123
Most might not agree with my closing, but my theory was that 155 was very strong resistance, and i was working with an rr of 5:1. SL was at 55.10, and TP at 54.50. IMHO, it was a good trade, but didnt think the reason was good enough to stay in after it broke through 155 although there may be plenty good reasons to stay in the short such as
1. 55.12 -20 is around the top of a channel
2. resistance on daily 4/2, 4/3, and 4/30 around 55.20
3. 23% (not a very good reason) on daily from high off 160

Still i dont like it so im out. Good luck all shorts!!!
  • #8,408
  • May 5, 2008 1:22pm May 5, 2008 1:22pm
I moved mine up.Currently -27 in trade but still believe it will go down. Oil prices at 120 right now
  • #8,409
  • May 5, 2008 1:35pm May 5, 2008 1:35pm
  •  BoHan
  • | Joined Nov 2007 | Status: Retracements are my forte! | 73 Posts
at the moment in profit still looking for a downward movement. always believe in yourself, as there is no one else you can blame but yourself for making a bad trade.
Start Young. Think Big. Stick to It.
  • #8,410
  • May 5, 2008 1:36pm May 5, 2008 1:36pm
After hit sl 1.5520 now go down to 1.5489 31 pip
Am i was wrong to put Sl 1.5520 "Break strong resistent"!!
  • #8,411
  • May 5, 2008 1:40pm May 5, 2008 1:40pm
  •  BoHan
  • | Joined Nov 2007 | Status: Retracements are my forte! | 73 Posts
Quoting egkid
After hit sl 1.5520 now go down to 1.5489 31 pip
Am i was wrong to put Sl 1.5520 "Break strong resistent"!!
i'm not sure about u but i always felt that a wider stop would be safer as it always hit my stop previously before going my way. haha.
Start Young. Think Big. Stick to It.
  • #8,412
  • May 5, 2008 1:50pm May 5, 2008 1:50pm
Well my SLs at 5536 holding (moved them just 4 pips up to 540 according to Andy's fibo analysis), I see a repulsion off the hourly 100 ema and back below 55.. See no real reason to exit shorts at a loss for no need now, looks like the bulls are getting exhausted or this is even a trick by the big boys from the beginning to attract some fast on the draw bulls. In short, pun intended, personally still favour a drop to at least mid 53..
On the path to Enrichment.
  • #8,413
  • May 5, 2008 1:57pm May 5, 2008 1:57pm
Mostly i know where the trend go and i can make profit but i lose because my bigger problme i can't use wider SL only Max 30 pip

Anyone pass through same problme?
  • #8,414
  • May 5, 2008 2:01pm May 5, 2008 2:01pm
Wise decision based on your own thoughts.

Quoting Erica123
Most might not agree with my closing, but my theory was that 155 was very strong resistance, and i was working with an rr of 5:1. SL was at 55.10, and TP at 54.50. IMHO, it was a good trade, but didnt think the reason was good enough to stay in after it broke through 155 although there may be plenty good reasons to stay in the short such as
1. 55.12 -20 is around the top of a channel
2. resistance on daily 4/2, 4/3, and 4/30 around 55.20
3. 23% (not a very good reason) on daily from high off 160

Still i dont like it so im out. Good luck all shorts!!!
  • #8,415
  • May 5, 2008 2:06pm May 5, 2008 2:06pm
Quoting egkid
Mostly i know where the trend go and i can make profit but i lose because my bigger problme i can't use wider SL only Max 30 pip
Why ?
On the path to Enrichment.
  • #8,416
  • May 5, 2008 2:19pm May 5, 2008 2:19pm
Because i have very small Account 300$ and risk will be very high
  • #8,417
  • May 5, 2008 2:23pm May 5, 2008 2:23pm
Quoting egkid
Because i have very small Account 300$ and risk will be very high
try using oanda broker.. with oanda you can put any amount to adjust your risk to the pip it's a very good broker for small accounts
  • #8,418
  • May 5, 2008 2:49pm May 5, 2008 2:49pm
Quoting egkid
Because i have very small Account 300$ and risk will be very high
I use IGforex [not sure how reliable, but no problems yet]
With $100 they let me open 0.1 lot EU with 84SL

[I'm not sure how reliable broker is it, but had no problems yet, and for me seems to look reliable as for small accounts]
  • #8,419
  • May 5, 2008 3:33pm May 5, 2008 3:33pm
Quoting emda
try using oanda broker.. with oanda you can put any amount to adjust your risk to the pip it's a very good broker for small accounts
Agreed, I have traded as low as 50 (thats 50 Euro's) and you could trade 1 of you wanted to.

I think something big is going to happen, Oanda spread has been 1.2 all day since news instead of the usual 0.9, last few time it went up big (not quite a valid indicator) but one more thing to watch for.
Oil $120/bl, confirmation of decoupling from E$?
Gold climbing all day.
Fed Chairman Bernanke Speaks tonight, and when Bernanke speaks...
My guess is long, back up to ???
  • #8,420
  • May 5, 2008 3:54pm May 5, 2008 3:54pm
I'm with the short Euro people. 1.55ish was support for two days until cracked. It's testing today and a failure calls for more downside.

Fast daily EMAs are accelerating, although the 100 days EMA, which is playing a kickass support since late-2006 is lying at 1.53.

I think there will be a lot of fight in this area (if Euro gets down there), coz if this EMA goes down, the long term uptrend is in jeopardy.
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