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  • #22,341
  • Aug 21, 2008 10:36am Aug 21, 2008 10:36am
Quoting akirax
oil $121...guess its going to $130 and back to 1.50s
Then this is a great time to buy.

Mike
  • #22,342
  • Aug 21, 2008 10:36am Aug 21, 2008 10:36am
Quoting femzy112
Anybody that doesn't do that will finally get stopped out one day as traders that don't stick with that are greedy traders and one bad loss will tell on em.

You dont do what one does.
You do what is right my friend.
As i always say this is not a motor gp race....Its a race of consistency bro..
Thanks for that. Appreciate it! I have followed the rule 2/3% now for almost two weeks, and it is working great, I sleep a lot better

Maarten
  • #22,343
  • Aug 21, 2008 10:37am Aug 21, 2008 10:37am
Quoting tundy88
Just wanted to know if i am still on track, i got a long on eu, and i am 20 pips down. Think i didnt get a good entry, and should have waited for the next best option, but was very anxious about the uptrend...Should i close, or still hang around
You need to define your risk before you enter the trade. 1.4900 is pretty strong resistance. I would just close it out. I already took a 20 pip loss myself earlier in the day. It happens.
  • #22,344
  • Aug 21, 2008 10:38am Aug 21, 2008 10:38am
Hello all.
I;m keeping 2 long from .4770 and .4810 what do you think is our ride up over? My positions are about to close by trailling stops. Should I close them or keep?

Mike
  • #22,345
  • Aug 21, 2008 10:40am Aug 21, 2008 10:40am
Quoting acumen
I don't understand the question? ur range?

Doesn't matter - you don't have long before you're on the Forbes list.

ya doesnt matter
remember ur post exactly and i know what u said
u call it range for this weak
i call bulls run
These are facts.

seems u have a "shorttimer" memory.
I dont care about any list care only about my family.
  • #22,346
  • Aug 21, 2008 10:41am Aug 21, 2008 10:41am
Quoting RumiPL
Hello all.
I;m keeping 2 long from .4770 and .4810 what do you think is our ride up over? My positions are about to close by trailling stops. Should I close them or keep?

Mike
I can't tell you what to do, but I have closed my long from 1.4804.
  • #22,347
  • Aug 21, 2008 10:48am Aug 21, 2008 10:48am
i suppose we are retraced from 161.8 fib (1.4894) and going down now back to ~1.4740

That's according to my chart. Anybody agree?
Attached Image
  • #22,348
  • Aug 21, 2008 10:50am Aug 21, 2008 10:50am
Quoting aprilbass
I stuck with short at 1.472, will this bullish trend will bcme bearish? can any one tell end point to this bull

Oil is going higher $$ is weakning .You should be looking for long moves.

Don't Fight the trend.
  • #22,349
  • Aug 21, 2008 10:50am Aug 21, 2008 10:50am
Quoting RumiPL
Hello all.
I;m keeping 2 long from .4770 and .4810 what do you think is our ride up over? My positions are about to close by trailling stops. Should I close them or keep?

Mike
That depends on your time frame. If you are trading less than dailies, then I would close them.
  • #22,350
  • Aug 21, 2008 10:54am Aug 21, 2008 10:54am
Hi guys, I was showing someone about how risky the forex market is and I found this.

http://en.wikipedia.org/wiki/Retail_forex

It says 90% of traders lose money.

I also found this

http://online.wsj.com/public/article..._20060805.html

interesting article from wall street journal about retail trading
  • #22,351
  • Aug 21, 2008 10:54am Aug 21, 2008 10:54am
Quoting avtopilot
i suppose we are retraced from 161.8 fib (1.4894) and going down now back to ~1.4740

That's according to my chart. Anybody agree?
dont know really i see many support at 4820
  • #22,352
  • Aug 21, 2008 10:54am Aug 21, 2008 10:54am
Quoting avtopilot
i suppose we are retraced from 161.8 fib (1.4894) and going down now back to ~1.4740

That's according to my chart. Anybody agree?
Yes, for me there is ABCD pattern on H1 with candle confirmation on M15 and M30. Also it bounce from weekly pivot @1,4894.
  • #22,353
  • Aug 21, 2008 10:58am Aug 21, 2008 10:58am
Quoting avtopilot
i suppose we are retraced from 161.8 fib (1.4894) and going down now back to ~1.4740

That's according to my chart. Anybody agree?
Maybe, but I see al lot of support from 1.4802 all the way down to 1.4733. But if it goes there, then that would be a great buying opportunity.

Maarten
  • #22,354
  • Aug 21, 2008 11:02am Aug 21, 2008 11:02am
Okay, these are my thoughts on this market. I feel like we're too oversold for the hour, and we'll see some down turn, hit support at 1.4850. I feel like this is a psych level. And it will bounce up from there.

Looks bullish Gentlemen. 30M EURUSD chart attached.

Shugart
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 3-1.png Size: 44 KB
  • #22,355
  • Aug 21, 2008 11:05am Aug 21, 2008 11:05am
Quoting Shugart
Okay, these are my thoughts on this market. I feel like we're too oversold for the hour, and we'll see some down turn, hit support at 1.4850. I feel like this is a psych level. And it will bounce up from there.

Looks bullish Gentlemen. 30M EURUSD chart attached.

Shugart
fully agree mate

meanwhile i shorted kiwi at 7180
  • #22,356
  • Aug 21, 2008 11:06am Aug 21, 2008 11:06am
i think we are beginning to sneak down.anyone still going long?i am looking for the right entry point for shorts
  • #22,357
  • Aug 21, 2008 11:10am Aug 21, 2008 11:10am
Quoting oolides
i think we are beginning to sneak down.anyone still going long?i am looking for the right entry point for shorts
I think if you're going to short, just aim for a 5pip scalp. I think you won't find any ball park runs on shorts today.

Shugart
  • #22,358
  • Aug 21, 2008 11:11am Aug 21, 2008 11:11am
Quoting 5ysfx
fully agree mate

meanwhile i shorted kiwi at 7180
You sure get around. lol

Where do you see kiwi go? It dropped a lot when it had the rate cut, but recently it has been relatively strong compared to fiber and cable.
Expected the unexpected
  • #22,359
  • Aug 21, 2008 11:16am Aug 21, 2008 11:16am
Quoting oolides
i think we are beginning to sneak down.anyone still going long?i am looking for the right entry point for shorts
i can bet you price will still shoot up...Look at R1 price played around it before going up i am sure thesame thang wld happen to R2. Except you are simply hoping to scalp.
  • #22,360
  • Aug 21, 2008 11:17am Aug 21, 2008 11:17am
Quoting scyang
You sure get around. lol

Where do you see kiwi go? It dropped a lot when it had the rate cut, but recently it has been relatively strong compared to fiber and cable.
small trade 20 pips maybe less retest of 60 brekout
and rebuild momentum and strike higher
thats my plan

but
"ppl can fly anything can happen"
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