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  • #27,421
  • Sep 5, 2008 1:21am Sep 5, 2008 1:21am
Quoting daanman3
Just wondering,

Is there anyone who is not trading right now, because of the wild moves?

I made a huge profit in the beginning of august.

I haven't opened any positions since mid august because the market was starting to look very weird to me. I am cautious that way and that is why I think I am succeding in the currency market.

Take a look at this posts in end of july beginning of August by me regarding gbp/jpy and euro

#104158

#106286

#18404

I would have made a load if I would have held these trades till now.

I am not a pussy, but the market right now is very crazy. I am chossing to stay out of the market right now(except for small scalps).

I think staying out is also winning in a weird way
pussy. just kidding, its understandable
  • #27,422
  • Sep 5, 2008 1:34am Sep 5, 2008 1:34am
Quoting Clouds
pussy. just kidding, its understandable


I think that we all must remember something.

There were huge moves before we all started trading forex. Did we know about them? no.

Do we regret not being involved in them? no.

Use this mindset when you are unsure about a trade.

I don't think that you have to be in the market all the time.
  • #27,423
  • Sep 5, 2008 1:42am Sep 5, 2008 1:42am
Quoting Subdude
Short with average price of 1.4279. Any opinions on whether to close and wait for a better entry or is this going in the money pretty soon (as in - a couple of hours)?
Sweet, closed it all for 10 pip profit.
  • #27,424
  • Sep 5, 2008 1:51am Sep 5, 2008 1:51am
.... 1 hour? 15 menits? ... thanks
  • #27,425
  • Sep 5, 2008 2:10am Sep 5, 2008 2:10am
Quoting daanman3


I think that we all must remember something.

There were huge moves before we all started trading forex. Did we know about them? no.

Do we regret not being involved in them? no.

Use this mindset when you are unsure about a trade.

I don't think that you have to be in the market all the time.
I strongly agreed. It does not mean you have to trade all the time. Enter the trade only if there are entry. Don't force it.
  • #27,426
  • Sep 5, 2008 2:11am Sep 5, 2008 2:11am
Quoting dogol
.... 1 hour? 15 menits? ... thanks
I don't know for now, but here I found a webcast of yesterday's speech of Trichet in Frankfurt (ECB Press Conference). It's about one hour long.

http://www.ecb.int/home/html/index.en.html

Click on "Live webcast: press conference"
  • #27,427
  • Sep 5, 2008 2:11am Sep 5, 2008 2:11am
Good Morning.

Well, here we have it. It has bounced back, at least fixed the yesterdays massive night loss.

And what does don.key doing? Sure, he dumps the trade at the freaking LOWEST point.

Every single time I analyze my ejects from bad trades, I see the clear pattern: I always pick up the worst time and It ALWAYS retraces next day, at least in some way, this night I basically lost 100 pips. last time it was about 90 pips, if I put them together I have to ask myself if it is really worth it to be afraid of total collapse and eject or wait for the retrace.

Lets face it, retraces seem to be much more common then straight, continuous moves.

Sure, it is better not to trade risky trades at all, but if you do, I have a feeling that statistically speaking it is better to wait for a retrace then to bail on the lowest point (Unless there are GOOD fundamental news for it)

If today it goes back to 1.4420 or more, well, Mr don.key was screwed in the a** once more by banks and their violent down-up games.
  • #27,428
  • Sep 5, 2008 2:21am Sep 5, 2008 2:21am
Quoting don.key
Good Morning.

Well, here we have it. It has bounced back, at least fixed the yesterdays massive night loss.

And what does don.key doing? Sure, he dumps the trade at the freaking LOWEST point.

Every single time I analyze my ejects from bad trades, I see the clear pattern: I always pick up the worst time and It ALWAYS retraces next day, at least in some way, this night I basically lost 100 pips. last time it was about 90 pips, if I put them together I have to ask myself if it is really worth it to be afraid of total collapse and eject or wait for the retrace.

Lets face it, retraces seem to be much more common then straight, continuous moves.

Sure, it is better not to trade risky trades at all, but if you do, I have a feeling that statistically speaking it is better to wait for a retrace then to bail on the lowest point (Unless there are GOOD fundamental news for it)

If today it goes back to 1.4420 or more, well, Mr don.key was screwed in the a** once more by banks and their violent down-up games.
maybe try smaller stops, or set them to BE, as soon as possible.
  • #27,429
  • Sep 5, 2008 2:28am Sep 5, 2008 2:28am
haha weekly pivot levels are so fun, I'm thoroughly enjoying myself scalping this little joy area.
On the path to Enrichment.
  • #27,430
  • Sep 5, 2008 2:33am Sep 5, 2008 2:33am
Quoting Jurrasic
haha weekly pivot levels are so fun, I'm thoroughly enjoying myself scalping this little joy area.
Totally agree
10 pips a couple of times /day makes a nice daily profit...
/kojak
  • #27,431
  • Sep 5, 2008 2:37am Sep 5, 2008 2:37am
Quoting Clouds
maybe try smaller stops, or set them to BE, as soon as possible.
I am on Currnex, so stop loss is not easily possible, besides it would not get filled most probably anyway with violent slash like that from yesterday.

I will have to manually eject the trades now after it went x Pips against me. This was MY mistake yesterday in the first place, but still, if I get stuck in the one second crash like yesterday night once more - I shall not panic and I shall wait for retrace.

Or does someone think that the chance of the fall was larger then chance of retrace from 14230 yesterday?
  • #27,432
  • Sep 5, 2008 2:40am Sep 5, 2008 2:40am
Quoting don.key
I am on Currnex, so stop loss is not easily possible, besides it would not get filled most probably anyway with violent slash like that from yesterday.
What kind of a stupid broker is that ?
Get out of there man.
On the path to Enrichment.
  • #27,433
  • Sep 5, 2008 2:44am Sep 5, 2008 2:44am
Quoting don.key
I am on Currnex, so stop loss is not easily possible, besides it would not get filled most probably anyway with violent slash like that from yesterday.

I will have to manually eject the trades now after it went x Pips against me. This was MY mistake yesterday in the first place, but still, if I get stuck in the one second crash like yesterday night once more - I shall not panic and I shall wait for retrace.

Or does someone think that the chance of the fall was larger then chance of retrace from 14230 yesterday?
Change broker mate.....If SL is not easilyl possible then i smell danger....
  • #27,434
  • Sep 5, 2008 2:45am Sep 5, 2008 2:45am
Quoting Jurrasic
Whoa.. fascinating things happen overnight.. Well, my mid-term short taken out. As I see it today could just turn out like another 08/08/08. After 1.43 the next support is only 1.385-1.39 area where we'll meet the ltl for the entire euro uptrend since 2000. Next big support for cable also seems like it's another 500 pips below, a bit above 1.7. We could get there pretty quick now allright. However even with all this panic I don't see that being broken before we get a big retracement (if not another long-term bull wave), there's no way the market will completely forget about the interest rate differences and let it keep crashing to 1 from there.
Please refer to post 27139 on page 1810.
  • #27,435
  • Sep 5, 2008 2:47am Sep 5, 2008 2:47am
Quoting IRISH37
Please refer to post 27139 on page 1810.
Yeah, ok ok you're the man, keep up the good work big cohuna.
On the path to Enrichment.
  • #27,436
  • Sep 5, 2008 2:49am Sep 5, 2008 2:49am
Quoting don.key
I am on Currnex, so stop loss is not easily possible, besides it would not get filled most probably anyway with violent slash like that from yesterday.
Was it a gap down? I think you better get out of this broker and find one that can give you a guarantee stop loss. I believe that there are a few good one in the markets.
  • #27,437
  • Sep 5, 2008 2:49am Sep 5, 2008 2:49am
Quoting don.key

Or does someone think that the chance of the fall was larger then chance of retrace from 14230 yesterday?
I won't underestimate this beast.
Apparently some invisible hands are doing their best to push the Dollar.
  • #27,438
  • Sep 5, 2008 3:20am Sep 5, 2008 3:20am
hello guyz,any view on the direction of the news today.is it going to change the technical analysis on ground or support it.pls your one cent.
Let God be true, and every other man be a liar
  • #27,439
  • Sep 5, 2008 3:31am Sep 5, 2008 3:31am
I Dont Think Anyone Can Predict Price Action Now
  • #27,440
  • Sep 5, 2008 3:31am Sep 5, 2008 3:31am
i see very good support around 1.4220. If the news is as bad as many believe. my view is that we will see it pass 1.44 today.
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