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  • #26,441
  • Sep 2, 2008 9:37pm Sep 2, 2008 9:37pm
Quoting trading801
yes.. they are all gathered to witness my margin call LOL

If for some reason your pg (pip god) gives you a short retrace to the 1.4725 to 1.4750 area before heading south will your future trades include mm/stops? Do you accept the supposition that no one knows if the market will continue up or down at any given moment?

I have enjoyed your posts and am sure most here share the same sentiment that we do not want you to get a margin call.
Redefining Reality
  • #26,442
  • Edited 9:55pm Sep 2, 2008 9:38pm | Edited 9:55pm
Quoting trading801
btw bro.. saw your profile .. you from euro ya..


PLEASE GO TO THE STREET AND USE A LOUD SPEAKER.. SING PRIASES OF EURO $ AND OF THE EURO ECONMY...


hope it will boast confidence and raise it by 100 pips

L O L
I would recomend you to study, study and study instead.
There is one thread that talkes about Fibonacci trading that would help you to understand the moves, also for my opinion you don't set the SL where they should, they are much to large for your account. Use the rule of 1% that gave you acumen and at last trade some time on demo, if not Mr. Margen will be your best friend in the future.
Good luck
  • #26,443
  • Sep 2, 2008 9:41pm Sep 2, 2008 9:41pm
Gut feelings points North from here. That weekly line is looking very strong.
Currently dropping to 1H and looking for long entry to hold for the next few days.
Cheers.
Attached Image (click to enlarge)
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  • #26,444
  • Sep 2, 2008 9:44pm Sep 2, 2008 9:44pm
TO ALL THOSE WHO CARE ABOUT ME . . A BIG THANK YOU


ok i will i will learn and remember..

smaller SL

less risky jump into the boat actions


but i think this time.. it looks bad.. i have been stuck in that position for 36 hours.. no retrace
  • #26,445
  • Sep 2, 2008 10:04pm Sep 2, 2008 10:04pm
Quoting trading801
TO ALL THOSE WHO CARE ABOUT ME . . A BIG THANK YOU


ok i will i will learn and remember..

smaller SL

less risky jump into the boat actions


but i think this time.. it looks bad.. i have been stuck in that position for 36 hours.. no retrace
See the market is waiting for you to close your order

you are the one domino piece that can recover it all!
(Like the domino effect in V is for Vendetta...)
  • #26,446
  • Sep 2, 2008 10:17pm Sep 2, 2008 10:17pm
Quoting trading801
TO ALL THOSE WHO CARE ABOUT ME . . A BIG THANK YOU


ok i will i will learn and remember..

smaller SL
in my opinion, it's not about smaller SL, it's about balancing the SL and TP, if you risk 500pips, and the 500pips is worth 2% of your account, you trade long term, and you have a TP of 1000pips, I won't say it's too big of a stop, it's how much you risk everytime with your SL, and if your TP is higher or at least close to your SL is what matters, it's the balance between the SL & TP and the % of your account capital per your SL if it gets hit
  • #26,447
  • Sep 2, 2008 10:25pm Sep 2, 2008 10:25pm
There appears to be some big news during the London session. I'm going to wait for that.

I expect this boat to sail downstream though during the London session. Having said that, anything can happen so I'm going to wait cautiously and see what happens.
  • #26,448
  • Sep 2, 2008 10:26pm Sep 2, 2008 10:26pm
wat a lazy rally E/U?....bear or bull?...
  • #26,449
  • Sep 2, 2008 10:30pm Sep 2, 2008 10:30pm
Quoting dragoncat
in my opinion, it's not about smaller SL, it's about balancing the SL and TP, if you risk 500pips, and the 500pips is worth 2% of your account, you trade long term, and you have a TP of 1000pips, I won't say it's too big of a stop, it's how much you risk everytime with your SL, and if your TP is higher or at least close to your SL is what matters, it's the balance between the SL & TP and the % of your account capital per your SL if it gets hit
I absolutly second that, what he did before was taking a trade with 200 pips SL on 1$ value for pip an a 300$ micro. Later hours of praying that it won't hit the SL and staying in the may be sunken boat.
It's still missing a trading plan and a lot of discipline.

I'm still waiting for the release of the traders shock colliar, any news on that?
Would like to be one of the first clients.
  • #26,450
  • Sep 2, 2008 10:38pm Sep 2, 2008 10:38pm
Quoting cobraforex
I absolutly second that, what he did before was taking a trade with 200 pips SL on 1$ value for pip an a 300$ micro. Later hours of praying that it won't hit the SL and staying in the may be sunken boat.
It's still missing a trading plan and a lot of discipline.

I'm still waiting for the release of the traders shock colliar, any news on that?
Would like to be one of the first clients.

this time 36 hours of praying has not helped yet!!

arrgghh

what is a good SL / TP target for about a 8 hours position? i always get taken out by small SL thats why i started the 200 thingie.. this time.. the price doest go back..
  • #26,451
  • Sep 2, 2008 10:49pm Sep 2, 2008 10:49pm
Quoting trading801
this time 36 hours of praying has not helped yet!!

arrgghh

what is a good SL / TP target for about a 8 hours position? i always get taken out by small SL thats why i started the 200 thingie.. this time.. the price doest go back..
Trading801, I'm no expert but maybe this will help. I've experienced the same kind of losses and feelings that you have. In the beginning, up until 8/8/08, my stops were often getting taken out, so I resisted using them. I got burned? I came to believe the following:
1. If my stops of 30-40 pips were getting taken out, perhaps I should have exercised more analysis and more patience, to make a better trade.
2. If the market is very volatile, maybe I set stops but closely monitor my trade and close it manually at +10-15 pips, as it begins to retreat down. +10 pips is surely better than nothing. It puts money in my pocket and frees up capital so that I can reassess the market and make another trade later.
3. I MUST use SLs to protect my account, but to put any trade on automatic, with limited capital, is a huge waste of money and time.

Hope this helps. I may not have written it very clearly.
Ed
Up or down, gimme a ticket
  • #26,452
  • Sep 2, 2008 10:50pm Sep 2, 2008 10:50pm
Quoting cobraforex
I absolutly second that, what he did before was taking a trade with 200 pips SL on 1$ value for pip an a 300$ micro. Later hours of praying that it won't hit the SL and staying in the may be sunken boat.
It's still missing a trading plan and a lot of discipline.

I'm still waiting for the release of the traders shock colliar, any news on that?
Would like to be one of the first clients.
that's risking 66.7% in one trade... 33.3x leverage for xxx/USD pairs and approx 50x leverage for EUR/USD pair...
  • #26,453
  • Sep 2, 2008 10:51pm Sep 2, 2008 10:51pm
Trading801: you small SL keep getting hit because your entry is bad...
8 hour position is short term and 50-75 pips SL for EUR/USD is more than enough, if it keeps getting hit, there's either problem with your analysis, which also leads to bad entries, or you keep entrying in the middle of the volatility range..
  • #26,454
  • Sep 2, 2008 10:52pm Sep 2, 2008 10:52pm
Quoting trading801
this time 36 hours of praying has not helped yet!!

arrgghh

what is a good SL / TP target for about a 8 hours position? i always get taken out by small SL thats why i started the 200 thingie.. this time.. the price doest go back..
Let’s say you have a 500$ account, 1% is 5$; if you trade 2 micro lots with a value of 0,10 $ each you divide the 5$ by 0,20$; that’s 25 pips that you can setup as your SL. The Risk/Reward should be min. 1:1 so you will have a minimum target of 25 pips. If the position is in a rally is good idea to let it run and take profit when you see a reversal.
For setting up the SL is ok to have them some pips before or behind known support or resistance.
  • #26,455
  • Sep 2, 2008 10:54pm Sep 2, 2008 10:54pm
Quoting dragoncat
Trading801: you small SL keep getting hit because your entry is bad...
8 hour position is short term and 50-75 pips SL for EUR/USD is more than enough, if it keeps getting hit, there's either problem with your analysis, which also leads to bad entries, or you keep entrying in the middle of the volatility range..

ok.. how can seek to identify such entries properly??
  • #26,456
  • Sep 2, 2008 10:54pm Sep 2, 2008 10:54pm
Quoting cobraforex
I absolutly second that, what he did before was taking a trade with 200 pips SL on 1$ value for pip an a 300$ micro. Later hours of praying that it won't hit the SL and staying in the may be sunken boat.
It's still missing a trading plan and a lot of discipline.

I'm still waiting for the release of the traders shock colliar, any news on that?
Would like to be one of the first clients.
LOL.... but how does the shock gets triggered?
  • #26,457
  • Sep 2, 2008 10:57pm Sep 2, 2008 10:57pm
UP UP EURO come on
  • #26,458
  • Sep 2, 2008 11:02pm Sep 2, 2008 11:02pm
Quoting dragoncat
LOL.... but how does the shock gets triggered?
Read this post from the inventor, AK4x:
http://www.forexfactory.com/showpost...ostcount=24630
He will make millions on that.
  • #26,459
  • Sep 2, 2008 11:10pm Sep 2, 2008 11:10pm
sad news..

i am really sadden

really

i feel like the world crushed on me..

first call taken out my 1.4620
  • #26,460
  • Sep 2, 2008 11:12pm Sep 2, 2008 11:12pm
This 1.4475 is a very critical point of resistance from Sep. 2007 and Jan. 2008. If it gets broken we will have a bigger downmove I guess.
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