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  • #27,241
  • Sep 4, 2008 3:24pm Sep 4, 2008 3:24pm
Quoting ak4x
That target was hit in only a few days w/o retrace, and has been reset to the March low of 151.75 from 66.75 making 1.5k pips for that trade.

Target #1 on EU (first green bar) was reached much faster than I ever imagined, and w/o any real retrace as well. Target area #2 is now in play.

As I said originally on Aug 8, any solid break and hold below 1.40 will get VERY interesting. Honestly, it seemed pretty farfetched at the time.

The chart is EU weekly and the red outlined box is current price set into last weeks chart. The 2 largest light shaded ellipses between the green lines are the areas of attention should the 4300 level break...

Lots of chart rebuilding to do this weekend...
You have the best charts.
  • #27,242
  • Sep 4, 2008 3:29pm Sep 4, 2008 3:29pm
Quoting Z3iz3i
I do not know where you get this 1% risk per trade, be a bit gambler when you seem to have a good chance to win big time. Ofc, use common sense.
I use quite often 50:1 - 100:1 leverage and it is OK when used cautiously.
Once blown my account 1k$ when practising real account

You can play with much more ease, if you know that money what you might lose, does not kill your economy. (Thats how it should be)

Your mind is your worst enemy
If you don't know how to trade or don't understand money management you make comments like these.

If you use more than 5% risk on each trade - your days are numbered.

At least you are at the right place to start learning.
  • #27,243
  • Sep 4, 2008 3:30pm Sep 4, 2008 3:30pm
8.8.8 and potential for tomorrow crash.

So, many seems to remember and quote 8.8.8 as an example of what could happen tomorrow.

Still, I am wondering if what happened then was not caused by outbreak of war between Russia and Georgia. Because 8.8.8 happened to be exactly that date. The outcome is clear - mess with Russia = less oil and gas but US would not be affected by this in the same way as Europe would.

As well, I am wondering just how much influence does news vs specilation has on Forex. Forex is mainly a speculation market where big sharks hunt for prey, the smaller fishes. If everyone, sharks and fishes would swim in the same direction, the game would not be fun for sharks. Perhaps it is more interesting for them to get as many "small ones" to swim with them and then suddenly turn around in one strong move and eat bunch of them.

The today's crash seems like a perfect setup, does anyone out there, besides silly people like me and some hedges longs EUR at all? So, if everyone is in short.... Why not reverse the thing for a moment to eat stop losses?
  • #27,244
  • Sep 4, 2008 3:42pm Sep 4, 2008 3:42pm
Quoting don.key
8.8.8 and potential for tomorrow crash.

So, many seems to remember and quote 8.8.8 as an example of what could happen tomorrow.

Still, I am wondering if what happened then was not caused by outbreak of war between Russia and Georgia. Because 8.8.8 happened to be exactly that date. The outcome is clear - mess with Russia = less oil and gas but US would not be affected by this in the same way as Europe would.

As well, I am wondering just how much influence does news vs specilation has on Forex. Forex is mainly a speculation market where big sharks hunt for prey, the smaller fishes. If everyone, sharks and fishes would swim in the same direction, the game would not be fun for sharks. Perhaps it is more interesting for them to get as many "small ones" to swim with them and then suddenly turn around in one strong move and eat bunch of them.

The today's crash seems like a perfect setup, does anyone out there, besides silly people like me and some hedges longs EUR at all? So, if everyone is in short.... Why not reverse the thing for a moment to eat stop losses?
Because...

If we all pooled our capital and then asked every one of our friends for a $100K loan and then asked every one of our friends friends for a 100K loan and then hit the buy button all at the same time... we couldn't move this market 5 PIPS.
  • #27,245
  • Sep 4, 2008 3:52pm Sep 4, 2008 3:52pm
Quoting acumen
Because...

If we all pooled our capital and then asked every one of our friends for a $100K loan and then asked every one of our friends friends for a 100K loan and then hit the buy button all at the same time... we couldn't move this market 5 PIPS.
Ok, but in this case for every short, there is a long in place, by "Big Boys".

Then why do some of them long it, if it seems it all goes down the drain now? Why would someone keep this 14300 support line up if it is clear that "EUR is overvalued", they will loose their a**es on this anyway. Why not just call it a day and drop it to 13500 by one big-fat sell call from all sides.

Cheers

P.s I understand that absence of serious rebound means that most big players kept their shorts in place. Niiice start for tomorrow, what could be their target now..... If we only knew
  • #27,246
  • Sep 4, 2008 3:58pm Sep 4, 2008 3:58pm
closed my short positions for 213 averaged green pips
set long orders at 14295 14282

now i need to sleep lol
  • #27,247
  • Sep 4, 2008 4:13pm Sep 4, 2008 4:13pm
caught that short run wooow hoooo
  • #27,248
  • Sep 4, 2008 4:16pm Sep 4, 2008 4:16pm
wow, don't take a nap just yet...
  • #27,249
  • Sep 4, 2008 4:16pm Sep 4, 2008 4:16pm
Quoting kamala
caught that short run wooow hoooo
same here kamala a cool 50 pips so far.. grats to you.

edit... make that 100 pips. woohoo. made up for my losses this week
  • #27,250
  • Sep 4, 2008 4:17pm Sep 4, 2008 4:17pm
This happen everytime when i closed my position 10 minutes after lol
Sh^t happens ...
oh well
  • #27,251
  • Sep 4, 2008 4:17pm Sep 4, 2008 4:17pm
Quoting kamala
caught that short run wooow hoooo
Guys we are very Riche
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  • #27,252
  • Sep 4, 2008 4:18pm Sep 4, 2008 4:18pm
I thought about the last few days PA. I read these posts, I looked at the charts. I looked at these monster candles coming out of nowhere between sessions. I said phooey on it, I'm taking a long weekend. Starting now.

See everyone next week.

PS. Less than 50 pips to hit that 1500 pip trade on EJ from 166.75. No more moving the TP... 151.75 is the target.
FUBAR...
  • #27,253
  • Sep 4, 2008 4:18pm Sep 4, 2008 4:18pm
Mother of god that tanked so fast and it's not done yet! 14218
  • #27,254
  • Sep 4, 2008 4:19pm Sep 4, 2008 4:19pm
Quoting tenantro
Mother of god that tanked so fast and it's not done yet! 14218
why the sudden drop all of a sudden? what's going on
  • #27,255
  • Sep 4, 2008 4:19pm Sep 4, 2008 4:19pm
Quoting kanaant
same here kamala a cool 50 pips so far.. grats to you.
was short from1.4325 and tp @ 1.4235
  • #27,256
  • Sep 4, 2008 4:21pm Sep 4, 2008 4:21pm
Caught a little, from the time you would think someone was just waiting to avoid paying interest.
Redefining Reality
  • #27,257
  • Sep 4, 2008 4:23pm Sep 4, 2008 4:23pm
manipulation by the govt to strengthen USD
  • #27,258
  • Sep 4, 2008 4:23pm Sep 4, 2008 4:23pm
Strongly recomend to wach this VIDEO:
"How to become very Riche in Short Time"
http://www.moscowforexlive.com/video/maryte12.wmv
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  • #27,259
  • Sep 4, 2008 4:25pm Sep 4, 2008 4:25pm
Sweet mother of god! That went fast. All my longs were closed when it hit my stops, and my entry order for shorts activated. I love trading!

Maarten

PS: By the way, Algirdas great job you are doing with your blog and video's! Keep up the good work!
  • #27,260
  • Sep 4, 2008 4:26pm Sep 4, 2008 4:26pm
Quoting don.key
Ok, but in this case for every short, there is a long in place, by "Big Boys".

Then why do some of them long it, if it seems it all goes down the drain now? Why would someone keep this 14300 support line up if it is clear that "EUR is overvalued", they will loose their a**es on this anyway. Why not just call it a day and drop it to 13500 by one big-fat sell call from all sides.

Cheers

P.s I understand that absence of serious rebound means that most big players kept their shorts in place. Niiice start for tomorrow, what could be their target now..... If we only knew
Lol, I guess this just happened.

I am taking loss, and contributing to sell wave hehe.
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