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EURUSD

  • #19,441
  • Aug 11, 2008 12:40pm Aug 11, 2008 12:40pm
oh wow..
Money often costs too much...
  • #19,442
  • Aug 11, 2008 12:41pm Aug 11, 2008 12:41pm
Quoting Clouds
how about 4880
I missed to enter LONG from there! ugh!
Money often costs too much...
  • #19,443
  • Aug 11, 2008 12:44pm Aug 11, 2008 12:44pm
Quoting apies84
I bet E/U will touch 1.4900
Yes!!! Already touch... I`m out from market today...heppy enough
  • #19,444
  • Aug 11, 2008 12:45pm Aug 11, 2008 12:45pm
forgot the chart
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_02 Aug. 11 19.50.jpg Size: 248 KB
Attached Image
  • #19,445
  • Aug 11, 2008 12:51pm Aug 11, 2008 12:51pm
Quoting Doniboy
When's the last time a particular currency had this kind of run? It's been two weeks and no one can predict the bottom for the USD.

Bottom is around 1.47 and till then it will tempt traders to go LONG by doing bungy jumps across the board.
  • #19,446
  • Aug 11, 2008 12:55pm Aug 11, 2008 12:55pm
is it always good to trade what has hit your stop loss. e.g if your stop is 20pips and you were long tyhen price hits it, is it good to take a short?
  • #19,447
  • Aug 11, 2008 12:57pm Aug 11, 2008 12:57pm
Quoting finian204rea
is it always good to trade what has hit your stop loss. e.g if your stop is 20pips and you were long tyhen price hits it, is it good to take a short?

It all depends upon your confidence..Look at charts if price broken a trendline at your stoploss then go for short !
  • #19,448
  • Aug 11, 2008 12:58pm Aug 11, 2008 12:58pm
Quoting finian204rea
is it always good to trade what has hit your stop loss. e.g if your stop is 20pips and you were long tyhen price hits it, is it good to take a short?
No - sometimes you get stopped out on the pip and position reverses . That means you had been right on your trade but your stoploss was not big enough.
  • #19,449
  • Aug 11, 2008 1:01pm Aug 11, 2008 1:01pm
Quoting Srikanth
Bottom is around 1.47 and till then it will tempt traders to go LONG by doing bungy jumps across the board.
scalping time!
Money often costs too much...
  • #19,450
  • Aug 11, 2008 1:06pm Aug 11, 2008 1:06pm
A nice pin bar has formed on 30 mins.. Seems like going up for some time !
  • #19,451
  • Aug 11, 2008 1:08pm Aug 11, 2008 1:08pm
Quoting indotrader
scalping time!

ofcourse, these bungy jumps are very sweet for scalpers
  • #19,452
  • Aug 11, 2008 1:09pm Aug 11, 2008 1:09pm
Wow...

cwave
  • #19,453
  • Aug 11, 2008 1:11pm Aug 11, 2008 1:11pm
Quoting mokonni
No - sometimes you get stopped out on the pip and position reverses . That means you had been right on your trade but your stoploss was not big enough.
thanks man i love your advise
  • #19,454
  • Aug 11, 2008 1:15pm Aug 11, 2008 1:15pm
market makers must love days like today, let's go up and get all the SL's for shorts, now let's go down and get all the SL's for longs, ok, looks like people are short now, so let's get their SL's , btw, im seeing a double bottom if this goes up again
  • #19,455
  • Aug 11, 2008 1:17pm Aug 11, 2008 1:17pm
Quoting mokonni
No - sometimes you get stopped out on the pip and position reverses . That means you had been right on your trade but your stoploss was not big enough.
so what idea do you have for a 5k account holder to use for stop loss e.g how many pips do you think would be ok for a stop loss on a position?
  • #19,456
  • Aug 11, 2008 1:22pm Aug 11, 2008 1:22pm
Quoting finian204rea
so what idea do you have for a 5k account holder to use for stop loss e.g how many pips do you think would be ok for a stop loss on a position?
Trade with standard 0.2 lot and stoploss 30/40 TP: 60/80 and most important thing is use 100:1 leverage !
  • #19,457
  • Aug 11, 2008 1:27pm Aug 11, 2008 1:27pm
There's a good chance we saw our low for the day at .4880.

By the way... I had S1 at .4890.

Hopefully we get a nice retrace before the London session.
  • #19,458
  • Aug 11, 2008 1:28pm Aug 11, 2008 1:28pm
Quoting Srikanth
Bottom is around 1.47 and till then it will tempt traders to go LONG by doing bungy jumps across the board.
I'm buying small lots every 50 pips it hits from 1.50 and down. We're going for a big ride back up, so be ready. 1.47 would be a great bottom.
  • #19,459
  • Aug 11, 2008 1:28pm Aug 11, 2008 1:28pm
Quoting finian204rea
so what idea do you have for a 5k account holder to use for stop loss e.g how many pips do you think would be ok for a stop loss on a position?
If you are new to this game i would only use 500 bucks for my trades and see how it develops..
My stops depend on: If I scalp for 2 - 5 pips my stop is not bigger than 6
If I play a longer term trade via a system my stop is for example 21
One for sure:
You need a stop for every trade. NEVER EVER go unlimited in this market. Power Outage, Pc defect, Inet down- all can happen
  • #19,460
  • Aug 11, 2008 1:30pm Aug 11, 2008 1:30pm
Quoting Srikanth
Trade with standard 0.2 lot and stoploss 30/40 TP: 60/80 and most important thing is use 100:1 leverage !
thanks a lot i have never got this type of advise here before
i am so grateful ok
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