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  • #18,641
  • Aug 8, 2008 8:11am Aug 8, 2008 8:11am
Quoting Russell
When I take a loss, I don't blame it on everyone but myself. Money management my friend. My average stop is 30 pips, my average win is Hundreds of points! Risk a LITTLE for a LOT!
Don't give up, I've been where you're at more than once. It's the cost of being successful in this business. It took me seven years to get where I am
today. I would recommend you read Trading in the Zone, by Mark Douglas and Face the Trader Within, by Chris Lori- It's free click here http://www.forexfactory.com/showthread.php?t=59329

I wish you well.
Mark Douglas - Trading in the Zone. The best book ive read about psichology so far. Very nice read indeed
  • #18,642
  • Aug 8, 2008 8:14am Aug 8, 2008 8:14am
Quoting Warren Forex
Now Trades at 109.98 Bid

Perhaps the FED knows the Dow will crash 500 Points today and they needed the cushion ?

I am serious...Look at Fannie Mae

Incredible !!! Trillions of US Dollars in Mortgages ! Freddie Mack the same !!!

Something is UP and it is NOT EUR/USD

My thoughts on the situation. What is yours ?
I said it this morning: Markets are out of control.

One man opens his mouth and trillions are shifted around the globe.

Nah, that is the real power. Forget Forbes 100....
  • #18,643
  • Aug 8, 2008 8:18am Aug 8, 2008 8:18am
DJI Open in 15 min will tell us more...if a drop and downtrend with continued momentum, whilst EUR /USD above the S3 of 1.505 with an outbreak above 1.5097 would confirm a possible start of a counter trend...

As always...Just my 2 Cents...
  • #18,644
  • Aug 8, 2008 8:19am Aug 8, 2008 8:19am
Quoting OnTheRoad
Hi, to all,
EURUSD , from 2000,2001 to 2008/04 the trend was UP and for 4 months it was ranging , but before 2000 the trend was DOWN ( from 1995 ) ( simulated price for EUR ) ,
now the question is , how we can understand end of UPTREND ?
is the double shoulder in weekly chart says something like that?
thx.
maybe this time the EURO needs a break again.. big one.. before continue the uptrend.. but who knows.. maybe next year.. I still have 2 longs.. bad... bad...
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Money often costs too much...
  • #18,645
  • Aug 8, 2008 8:19am Aug 8, 2008 8:19am
Quoting Warren Forex
Now Trades at 109.98 Bid

Perhaps the FED knows the Dow will crash 500 Points today and they needed the cushion ?

I am serious...Look at Fannie Mae

Incredible !!! Trillions of US Dollars in Mortgages ! Freddie Mack the same !!!

Something is UP and it is NOT EUR/USD

My thoughts on the situation. What is yours ?
My Opinion Warren for what it's worth is that the UJ has some more up side. It bounced off 110.00 but it was always going to do that. It has retreated to the previous level or resistance on a daily and paused. I think it's upward move is still in tack.
  • #18,646
  • Aug 8, 2008 8:21am Aug 8, 2008 8:21am
Quoting Shadowfx
DJI Open in 15 min will tell us more...if a drop and downtrend with continued momentum, whilst EUR /USD above the S3 of 1.505 with an outbreak above 1.5097 would confirm a possible start of a counter trend...

As always...Just my 2 Cents...
Be sure to keep an eye on oil, currently down about $2.50, falling oil has been dollar bullish lately. Also, DJIA dropped a bunch yesterday in the midst of this dollar rally.
  • #18,647
  • Aug 8, 2008 8:23am Aug 8, 2008 8:23am
1.5035(M)Former Fibo Res/Supp Sell A Clear Break 1.5000(M)Wkly Pivot Nov/Feb Buy A Bounce/Sell Break

Getting Over 1.5100 will take much selling pressure off the EUR/USD

Stay Focused. Be Calm. Be Relaxed. It Is only money !

Fear Greed and Ego and Good Money Management !

Defeat your fears. Control your greed and Control your EGO !!!

Use Good Money Management Tools. Know the Fundamentals and understand the Technicals. Know the difference from Reality To Perception.

Be Strong. Make your own calls.

Good Trading !!! Life Is A Bowl Of Cherries if you allow it to be.

G-D Bless The Brokers :-)
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  • #18,648
  • Aug 8, 2008 8:23am Aug 8, 2008 8:23am
Let's take a look at the chart.

We are at S3 on the day.

We will probably see a run at S3 sometime this morning but it will likely hold.

No one wants to go into this weekend with cash on the table.
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  • #18,649
  • Aug 8, 2008 8:28am Aug 8, 2008 8:28am
1.5066....oh when will this Short end ??

I still have some shorts ,,maybe TP 1.4920. I'm tired

Quoting indotrader
maybe this time the EURO needs a break again.. big one.. before continue the uptrend.. but who knows.. maybe next year.. I still have 2 longs.. bad... bad...
  • #18,650
  • Aug 8, 2008 8:28am Aug 8, 2008 8:28am
Quoting acumen
Let's take a look at the chart.

We are at S3 on the day.

We will probably see a run at S3 sometime this morning but it will likely hold.

No one wants to go into this weekend with cash on the table.
It can hit the channel low at 515 or lower long before the end of the week at this rate. I wouldn't close my shorts now unless it goes closer to 51.

Edit: Finally a higher low ? Closed part short will reload soon.
On the path to Enrichment.
  • #18,651
  • Aug 8, 2008 8:32am Aug 8, 2008 8:32am
Russia is invading Georgia... how will this have any affect on the pair?
  • #18,652
  • Aug 8, 2008 8:34am Aug 8, 2008 8:34am
Quoting Jurrasic
It can hit the channel low at 515 or lower long before the end of the week at this rate. I wouldn't close my shorts now unless it goes closer to 51.
You won't find any disagreement here.

Usually - below S3 signals a strong SELL signal but today isn't usually.

I still believe that short covering will temporarily stall the bleeding.

Like I said earlier Mr. Jurrasic... I'm window shopping until Monday.
  • #18,653
  • Aug 8, 2008 8:37am Aug 8, 2008 8:37am
Quoting Shadowfx
Gents, can we stop this now for the last time...it's becoming annoying now

Another advice...FX trading is not a game of making quick money..it's a profession that needs many years of training and skills with extremely high risks..

If you don't see it that way or don't have the funds to sustain losses, read calculated risk management...stop trading and get a regular job...

As always...Just my 2 Cents...
agreed! from now on I declared my self as a scalper only
Money often costs too much...
  • #18,654
  • Aug 8, 2008 8:41am Aug 8, 2008 8:41am
DOW is up
Money often costs too much...
  • #18,655
  • Aug 8, 2008 8:42am Aug 8, 2008 8:42am
Quoting mogenius76
Russia is invading Georgia... how will this have any affect on the pair?

"Three Russian Aircrafts Invade Georgia’s Airspace and Bomb a Town" - Interior Ministry reported

Unless the country of Georgia is in the Euro Zone (I'll need to check) I'm not sure this will have an immediate affect if at all...

Quoting Shadowfx
Gents, can we stop this now for the last time...it's becoming annoying now

Another advice...FX trading is not a game of making quick money..it's a profession that needs many years of training and skills with extremely high risks..

If you don't see it that way or don't have the funds to sustain losses, read calculated risk management...stop trading and get a regular job...

As always...Just my 2 Cents...
That sounds about right...
  • #18,656
  • Aug 8, 2008 8:43am Aug 8, 2008 8:43am
Quoting indotrader
DOW is up
To early to call....up at open often results in lower momentum...
  • #18,657
  • Aug 8, 2008 8:43am Aug 8, 2008 8:43am
Quoting Aad
That sounds about right...
So true!
  • #18,658
  • Aug 8, 2008 8:44am Aug 8, 2008 8:44am
whenever a retrace does come it should be spectacular... at least 150-200 pips
  • #18,659
  • Aug 8, 2008 8:44am Aug 8, 2008 8:44am
OK please people, focus. This thread is starting to sound like a sit com.


I have heard of stops below 50.50 on Eur although I see it going to 4970 support. Thoughts? Anyone else hear the same thing?
  • #18,660
  • Aug 8, 2008 8:48am Aug 8, 2008 8:48am
Quoting akirax
whenever a retrace does come it should be spectacular... at least 150-200 pips
all we need is a bad boom data from the US or signs of recovery from EURO data.. hmmm
Money often costs too much...
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