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  • #29,661
  • Sep 12, 2008 4:26am Sep 12, 2008 4:26am
You're right, that was just small scalp short.

For better confirmation I'm waiting to this H1 candle close below 50% of last up candle which is 1,4091.
  • #29,662
  • Sep 12, 2008 4:29am Sep 12, 2008 4:29am
Congrats!

Quoting dgreat
me...at 4110....
Trade with caution set your stops & limits.
  • #29,663
  • Sep 12, 2008 4:32am Sep 12, 2008 4:32am
Quoting magictrader
You're right, that was just small scalp short.

For better confirmation I'm waiting to this H1 candle close below 50% of last up candle which is 1,4091.
For better confirmation it's better to wait for a lower high in general (and also monday in this specific case).
On the path to Enrichment.
  • #29,664
  • Sep 12, 2008 4:35am Sep 12, 2008 4:35am
Quoting Sole
is a common practice if you are sure you're on the right trend... it's not stupid at all.... often tou can have your main position and do other entries on the same instrument ...
This has been discussed million times already so I don't go there anymore.

It's important to understand that you get exactly the same results by closing and reopening your trade (in fact you save 2 trades worth of spread/commission).
  • #29,665
  • Sep 12, 2008 4:36am Sep 12, 2008 4:36am
this weeks 38.2% fib line is acting nicely as a support now....reload the bull guns maybe?...best to wait see how this hourly candlestick ends
Different opinions highly valued, ignorant to slander.
  • #29,666
  • Sep 12, 2008 4:38am Sep 12, 2008 4:38am
Quoting Sole
is a common practice if you are sure you're on the right trend... it's not stupid at all.... often tou can have your main position and do other entries on the same instrument ...
I use this all day long, I do sometimes more than 100 trades a day, if one gets against me for a while I hedge it instead of scalping it. Make counts, lets say 40 are going against me and I hedge them on 2 pips spread that is a huge amount of money (but as mikkom trades demo isn't important to him).
But some people want to know everything better and the worst thing is to say stupid to something that they don't know or understand.
Oh my Oh my, how I love this informative and educative thread
  • #29,667
  • Sep 12, 2008 4:39am Sep 12, 2008 4:39am
Quoting mikkom
This has been discussed million times already so I don't go there anymore.

It's important to understand that you get exactly the same results by closing and reopening your trade (in fact you save 2 trades worth of spread/commission).
Not exactly even, who can ever be certain he's on the "right trend" ? What if it doesn't come back down, then you've wasted the entire retracement profit you could've made otherwise because of the hedge. Now if and when it comes back down you wait for confirmation, like a lower high for example and then enter with a relatively small sl. If it doesn't end up going down and you fail there you're still in profit nicely, if it doesn't go down once you reopen the hedge you'll be in a small loss overall - a waste of time and money.
On the path to Enrichment.
  • #29,668
  • Sep 12, 2008 4:41am Sep 12, 2008 4:41am
Guys, my scalping didn't work and now I need to see 1.4132 to get out satisfactorily. Is this a possibility? Because it sure looks like the mechanics of how this currency pair is moving have changed in the past 30 minutes.
Do you think the karate kid knows kung-fu?
  • #29,669
  • Sep 12, 2008 4:43am Sep 12, 2008 4:43am
Quoting psiholog
this weeks 38.2% fib line is acting nicely as a support now....reload the bull guns maybe?...best to wait see how this hourly candlestick ends
Exactly my thoughts..And i got a pivot at 1,4100 so im long right now..
  • #29,670
  • Sep 12, 2008 4:44am Sep 12, 2008 4:44am
Quoting ddblue
Guys, my scalping didn't work and now I need to see 1.4132 to get out satisfactorily. Is this a possibility? Because it sure looks like the mechanics of how this currency pair is moving have changed in the past 30 minutes.
if it breaks below 1.4090 decisively i would close position...as long as it stays where its at right now..its just taking a breather..just my 2 cents
Different opinions highly valued, ignorant to slander.
  • #29,671
  • Sep 12, 2008 4:47am Sep 12, 2008 4:47am
Quoting cobraforex
(but as mikkom trades demo isn't important to him).
That's an insult and there is no need for those. I trade with IB and if you use them, opposite trade adds/subtracts your position saldo just as it should.

Go to IB and open a demo account so you can see it yourself - Oh I forgot, IB doesn't have demo accounts.
  • #29,672
  • Sep 12, 2008 4:50am Sep 12, 2008 4:50am
I am not sure about this. It seems to go down. Have you look at NZD/USD? This babe have to go down. Bud then EUR/USD could take the same direction.
  • #29,673
  • Sep 12, 2008 4:50am Sep 12, 2008 4:50am
hmmf, hit ws1 and almost get todays r3... it seems there will be such a rebound, but mostly us news are bad today...hmm what should i do...
  • #29,674
  • Edited 5:07am Sep 12, 2008 4:51am | Edited 5:07am
Let's face it utilizing the broker's hedge comes down to the traders psychology. Like everything else in trading, it will work for some and not for others.

That is not a simple tool and requires some quick thinking.
Redefining Reality
  • #29,675
  • Sep 12, 2008 4:52am Sep 12, 2008 4:52am
Guys com'mon, it's a wonderful sunny afternoon (here at least ) weekend coming, relax, no need for this.
On the path to Enrichment.
  • #29,676
  • Sep 12, 2008 4:57am Sep 12, 2008 4:57am
Here is a good discussion about this hedge issue. Read the whole thread and you'll understand the hedge thing better. I see no reason to repeat everything that's already discussed many times over.

http://www.forexfactory.com/showthre...t=merlin+hedge
  • #29,677
  • Sep 12, 2008 5:00am Sep 12, 2008 5:00am
Quoting mikkom
That's an insult and there is no need for those. I trade with IB and if you use them, opposite trade adds/subtracts your position saldo just as it should.

Go to IB and open a demo account so you can see it yourself - Oh I forgot, IB doesn't have demo accounts.
Well, let's finish this, I'm sorry for the demo on your name, but you harvest what you seed.
Peace and have a nice weekend all of you folks, Cobra is closed till sunday.
  • #29,678
  • Sep 12, 2008 5:02am Sep 12, 2008 5:02am
a pullback to somewhere near 1.4 then up to 1.4180 as for today is possible or not..? Im looking to enter long
Money often costs too much...
  • #29,679
  • Sep 12, 2008 5:03am Sep 12, 2008 5:03am
Quoting cobraforex
Peace and have a nice weekend all of you folks, Cobra is closed till sunday.
cya around Cobra, thank you again
Different opinions highly valued, ignorant to slander.
  • #29,680
  • Sep 12, 2008 5:16am Sep 12, 2008 5:16am
Quoting indotrader
a pullback to somewhere near 1.4 then up to 1.4180 as for today is possible or not..? Im looking to enter long
1.4090 is acting as strong support for the time being. i would do one of two things here.
1)wait for another pull back to that point and buy with 15-20pip stop loss
2)wait for the news, and trade the reaction to the news
Different opinions highly valued, ignorant to slander.
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