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EURUSD

  • #30,301
  • Sep 15, 2008 9:23am Sep 15, 2008 9:23am
Quoting psiholog
i would take my profit and run!!!...the farther away from the markets today...the better...best advice youll hear today trust me!...i was up 150pips...then down 200...now back to 0....just run!!!!
I absolutely second that, in case that you feel that you don’t know to where to trade, stay out or scalp the mini waves.
Market is some kind of crazy today, smells like interventions.
  • #30,302
  • Sep 15, 2008 9:26am Sep 15, 2008 9:26am
Quoting ballblazer_!
soi have a question. i just blew thru my second live acct and i was wondering. when is it "letting ur winners ride" and when is it "being greedy"

yesterday i was up about 70 pips when it was at the daily high of 1.4484 then it retraced down. i was considering closing out a 70 pip profit but i really felt like it was going to go up higher and obviously i was wrong.

so any suggestions? thanks
Once you are in a certain nbr of pips and are letting it run, you should never allow it to go completely against you to a loss.

You should always be determining where price would have to go to tell you to get out, whether that is when you first initiate a trade or once you are in profit.
  • #30,303
  • Sep 15, 2008 9:32am Sep 15, 2008 9:32am
Quoting SunTrader
Once you are in a certain nbr of pips and are letting it run, you should never allow it to go completely against you to a loss.

You should always be determining where price would have to go to tell you to get out, whether that is when you first initiate a trade or once you are in profit.

Reduce your position size until you gain consistancy. Many will try to make 15B in there first month... Trade light and live to trade another day...
Check Mate GAME OVER
  • #30,304
  • Sep 15, 2008 9:35am Sep 15, 2008 9:35am
Quoting bunton
Reduce your position size until you gain consistancy. Many will try to make 15B in there first month... Trade light and live to trade another day...
wise words from a wise man... i'm still on my first account, and so far i'm down about $80 not bad not bad.... i need to change my leverage. most positions were stopped out in about 5 mins tops... i really can't trade again until i change it.
  • #30,305
  • Sep 15, 2008 9:36am Sep 15, 2008 9:36am
I see a possible counter trend developing off da 15
Check Mate GAME OVER
  • #30,306
  • Sep 15, 2008 9:38am Sep 15, 2008 9:38am
all right. thanks for all the suggestions guys. back to the drawing board >.<
  • #30,307
  • Sep 15, 2008 9:39am Sep 15, 2008 9:39am
swissy gap not closed yet, may be a bit late but could be some more USD strength coming up today.
TRADE FOR SWAP
  • #30,308
  • Sep 15, 2008 9:39am Sep 15, 2008 9:39am
Quoting bunton
Reduce your position size until you gain consistancy. Many will try to make 15B in there first month... Trade light and live to trade another day...
agreed when i first started i had that mentality!...i had a 1000$ mini account and was doing 8dollars per pip. in other words risking more then 1% of my account just on the spread. sure i made 300 first few trades....lucky gambling...but then 100+ pip loss on one trade (didnt use stop loss back then) pretty much blew my account....now...for a 1000$ account i would do 1$ dollar pips with 20pips stop loss...now thats good money management....this is good because you can be wrong 3 times in a row....thats -60pips...but if you analyze your technicals correctly and are aware of the news...maybe the 4th trade will gain 120pips...then there is scalping but thats a different story
Different opinions highly valued, ignorant to slander.
  • #30,309
  • Sep 15, 2008 9:43am Sep 15, 2008 9:43am
Quoting ballblazer_!
all right. thanks for all the suggestions guys. back to the drawing board >.<
IN this market take any pips you can get. You can't suit back and wait for a home run. These guys talking about 150-250 pips are either playing with peanuts or paper trading. Trade shorter term.
  • #30,310
  • Sep 15, 2008 9:43am Sep 15, 2008 9:43am
Quoting psiholog
agreed when i first started i had that mentality!...i had a 1000$ mini account and was doing 8dollars per pip. in other words risking more then 1% of my account just on the spread. sure i made 300 first few trades....lucky gambling...but then 100+ pip loss on one trade (didnt use stop loss back then) pretty much blew my account....now...for a 1000$ account i would do 1$ dollar pips with 20pips stop loss...now thats good money management....this is good because you can be wrong 3 times in a row....thats -60pips...but if you analyze your technicals correctly and are aware of the news...maybe the 4th trade will gain 120pips...then there is scalping but thats a different story
Hey Psiholog, Heavy hitting has cost me some cash in the past. Very good points!!
Check Mate GAME OVER
  • #30,311
  • Sep 15, 2008 9:43am Sep 15, 2008 9:43am
Quoting mikkom
I really don't understand why you have to be so rude all the time.(acumen)
Don't worry, sometimes he says to himself that he's an azz but deep inside he's a great person, if not, he wouldn't be here helping others.
  • #30,312
  • Sep 15, 2008 9:43am Sep 15, 2008 9:43am
Quoting ballblazer_!
soi have a question. i just blew thru my second live acct and i was wondering. when is it "letting ur winners ride" and when is it "being greedy"

yesterday i was up about 70 pips when it was at the daily high of 1.4484 then it retraced down. i was considering closing out a 70 pip profit but i really felt like it was going to go up higher and obviously i was wrong.

so any suggestions? thanks
trailing stop
  • #30,313
  • Sep 15, 2008 9:51am Sep 15, 2008 9:51am
Quoting TIckerShuffl
IN this market take any pips you can get. You can't suit back and wait for a home run. These guys talking about 150-250 pips are either playing with peanuts or paper trading. Trade shorter term.
Hmm, I had a nice short trigger order open last night as I slept. I didn't think it was peanuts and I sure wasn't paper trading. Good luck with your trades.
  • #30,314
  • Sep 15, 2008 9:51am Sep 15, 2008 9:51am
Quoting cobraforex
Don't worry, sometimes he says to himself that he's an azz but deep inside he's a great person, if not, he wouldn't be here helping others.


I read somewhere on FF, “These markets you are trading in are killing fields.”

As motivation in achieving victory in a zero sum game, what is the better approach for learning in this forum?

A. Should we treat this forum as a support group where we hold hands and cry together?

B. Should we acknowledge that you need to either conquer or be conquered?

We are not defeated until we either run out of time (the big one) or the will to continue.
Redefining Reality
  • #30,315
  • Sep 15, 2008 9:54am Sep 15, 2008 9:54am
Quoting 5ysfx
i think wiil drop in 3 and half hour from now,
initial target 14150 should be hit before noon UTC
  • #30,316
  • Sep 15, 2008 9:55am Sep 15, 2008 9:55am
Quoting Algirdas
http://4.bp.blogspot.com/_nmIuQsC9b-...R_USD+Spot.pnghttp://2.bp.blogspot.com/_nmIuQsC9b-...R_USD+Spot.png
I missed 3 pips, it heapens ofen 3,5,7 pips.It's difficult to predict 2,3H beafor. Sorry.Now move Stops to ENTRY
{Promotion Removed}
  • #30,317
  • Sep 15, 2008 9:57am Sep 15, 2008 9:57am
are pivot levels supposed to move with the candlestick? thats wat my chart keeps doing...
  • #30,318
  • Sep 15, 2008 9:58am Sep 15, 2008 9:58am
Quoting cgldsmth
only way I see the monthly being within trend is to draw the TL to the current monthly low, which cannot be seen as a valid TL.
So you want to tell me this ascending monthly channel is not valid? What are you smoking mate?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_mn_uptrendchannel.jpg Size: 82 KB
  • #30,319
  • Sep 15, 2008 9:59am Sep 15, 2008 9:59am
Quoting psiholog
agreed when i first started i had that mentality!...i had a 1000$ mini account and was doing 8dollars per pip. in other words risking more then 1% of my account just on the spread. sure i made 300 first few trades....lucky gambling...but then 100+ pip loss on one trade (didnt use stop loss back then) pretty much blew my account....now...for a 1000$ account i would do 1$ dollar pips with 20pips stop loss...now thats good money management....this is good because you can be wrong 3 times in a row....thats -60pips...but if you analyze your technicals correctly and are aware of the news...maybe the 4th trade will gain 120pips...then there is scalping but thats a different story
whatz up pal.i am still stuck in my longs.have you exited yours.......................
  • #30,320
  • Sep 15, 2008 10:00am Sep 15, 2008 10:00am
Quoting TIckerShuffl
IN this market take any pips you can get. You can't suit back and wait for a home run. These guys talking about 150-250 pips are either playing with peanuts or paper trading. Trade shorter term.
I always look for the home run no matter tha volatility but many times have to settle for a single.
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