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  • #36,601
  • Oct 3, 2008 9:01am Oct 3, 2008 9:01am
Quoting BoredToLoose
.... as many were waiting, but Be careful about shorts now.
This is a forum with so different opinions, I urge no one to follow my advices, as you know forex is unpredictable, but lately I am doing well, I think!

So I repeat, Take portion TP for all shorts below 1.4050.
For all longs below 1.3727 set SL at BE an let it go!
Keep winning my friend.

There is no gray area is this game.

You win or you lose.

Black and white.

Mike
  • #36,602
  • Oct 3, 2008 9:07am Oct 3, 2008 9:07am
Quoting don.key
If you need help of god because you retraced 50 pips, then something is wrong with your MM.

I know your feelings, I had this too. Now I trade it in a way that 50 pips loss will cause me to loose 1% of my account. MUCH better feeling!

On your question, it is not a good idea to setup TP on round numbers IMHO, same as SL, do it a bit above. I tend to place TPs 7 pips above (or bellow) the perceived goal.
thank you very much. i am still here.alive and breathing.
its laughable to say i need Gods help for a 50pip retrace.but i must say i have lost my money before following this thread in the forum and learning about MM but on this trade,i came into the office and thought woa! a good opportunity to make my money back. and BAM!!!!! it didnt hit my TP and retraced.
kiakaru(what to do) the issue aint so much the money but the confidence.
i was slowly building my account hence my confidence was coming back. now u can imagine....its the confidence part i need help on mainly now. cos alot of times i analyse charts well and all but i just wont place the trade for fear of losing.now that i placed it for lack of patience,i lost money.
thank you.
i'm here and will always be here.
we win!

PONDERING- WHAT DO I NEED TO KNOW
  • #36,603
  • Oct 3, 2008 9:07am Oct 3, 2008 9:07am
Hi all here..

i left my computer befor news.. my TP 1.3700..

i dose not hit that...

what shal i do .. i have to close it??

do you think ther price will come bake to 1.700.. after all bad $ news ??
Never sell @ lower upward channel unless breacked and vise versa .
  • #36,604
  • Oct 3, 2008 9:08am Oct 3, 2008 9:08am
Quoting bayoor
acumen,
u r d pivot guru, price daily S1 and the 1.3700 were close yet price did not hit it.i was looking at those thats why i made the late entry.i lost some money from this retrace man.any more help.I NEED help.
Any time price has a confluence of factors you need to be extra cautious.

Price had already moved down nicely.

You had .3700 acting as support and S1. (Confluence)

It came within a few PIPS of .3700.

You just need to keep your stops tight and spend some more time with your charts.

Print out the charts... draw on them... throw darts at them... chart reading takes time... one day you'll look at the chart and say... oh shit... I get it.

Mike
  • #36,605
  • Oct 3, 2008 9:08am Oct 3, 2008 9:08am
Quoting kasper
positive news and ..... market doesnt move. guess it was priced in already.
ISM is in expectancy.




4:00pm USD http://www.forexfactory.com/images/m...mpact_high.gif ISM Non-Manufacturing PMI http://www.forexfactory.com/images/m...etail_star.gif 50.2 50.0 50.6

No reasons to move here.
  • #36,606
  • Oct 3, 2008 9:08am Oct 3, 2008 9:08am
Live debate/voting on CNBC

http://www.cnbc.com/id/24596546
  • #36,607
  • Oct 3, 2008 9:09am Oct 3, 2008 9:09am
Quoting acumen
Hope no one listened.
Acumen,

Anyone posting "hold on to your longs" right now needs a mental examination. You have been short biased for several weeks. Others have also called for shorts. Scalping with tight stop- losses is one thing---but a swing position long? That is just giving your money away! This world financial crisis is not going to be solved in a few days or with one vote. 1.60 is gone, and Euro bulls need to get over it! I'm sure we will see 1.60 again someday, but it will not be anytime soon.
  • #36,608
  • Oct 3, 2008 9:13am Oct 3, 2008 9:13am
Quoting acumen
Any time price has a confluence of factors you need to be extra cautious.

Price had already moved down nicely.

You had .3700 acting as support and S1. (Confluence)

It came within a few PIPS of .3700.

You just need to keep your stops tight and spend some more time with your charts.

Print out the charts... draw on them... throw darts at them... chart reading takes time... one day you'll look at the chart and say... oh shit... I get it.

Mike
WHY ARE YOU NOT ACTIVE ON YOUR PP thread.i have decided to use your strategy as i've read up on it,watched videos etc but alot of times i do have questions to ask but where do i get answers?
however,i loke the last line of your writeup.......it put a smile on my face.i will get there one day SOON
  • #36,609
  • Oct 3, 2008 9:14am Oct 3, 2008 9:14am
Quoting mikkom
Live debate/voting on CNBC

http://www.cnbc.com/id/24596546
It looks empty, but I guess the bailout is gonna pass this time.
  • #36,610
  • Oct 3, 2008 9:14am Oct 3, 2008 9:14am
.3778 38.2% retrace of last big move low and right at .80 psyche level. If it shows resistance then I believe it will be time for me to get back into the short game.

But then again, on a normal Friday, as if we have any lately, I would be out till Sunday's water gets chummed.

It looks as though the 23.6% level, .3750, another psyche, may put up a fight though as I type this.

Trade what you see, not what you hear!


Anybody see the movie O Brother where art thou!
" Come on in boys, the water's fine!"
I love that crap
  • #36,611
  • Oct 3, 2008 9:15am Oct 3, 2008 9:15am
No adverse news will stop this downward momentum.
I wonder why ?
  • #36,612
  • Oct 3, 2008 9:15am Oct 3, 2008 9:15am
So voting in the House of Reps on the USD 700Bln TARP bill has kicked off. Dealers suggest that whippy trading could be witnessed into the European closes as liquidity thins in anticipation of fresh chop.
EUR/USD hit 1.3702 at the latest lows but the spot price has since recovered to trade near the 1.3750 level. Selling into strength remains preferred with targets as low as 1.35 still seen doing the rounds.
  • #36,613
  • Oct 3, 2008 9:17am Oct 3, 2008 9:17am
can i short now? is d bill voting on ?
pls can someone inform about the result and also tell us direction after the vote..if passed or rejected
  • #36,614
  • Oct 3, 2008 9:19am Oct 3, 2008 9:19am
At the rate this is going i think there'll be a 100++ GAP downwards when the market reopen next week
  • #36,615
  • Edited 9:22am Oct 3, 2008 9:20am | Edited 9:22am
Quoting bayoor
can i short now? is d bill voting on ?
pls can someone inform about the result and also tell us direction after the vote..if passed or rejected
It looks like their voting right now. http://www.cnbc.com/id/24596546
  • #36,616
  • Oct 3, 2008 9:22am Oct 3, 2008 9:22am
Quoting bayoor
can i short now? is d bill voting on ?
pls can someone inform about the result and also tell us direction after the vote..if passed or rejected
Vote is in 2 1/2 hrs time..

6.00pm UK time.

Anyone who tells you they know what will happen as a result is either brilliant or deluded...

Or maybe both...



John -
  • #36,617
  • Oct 3, 2008 9:23am Oct 3, 2008 9:23am
Quoting gagakrimba
At the rate this is going i think there'll be a 100++ GAP downwards when the market reopen next week
If you like to gamble!

At this rate there will be no more Euro to trade by years end. wonder what the $-franc, $- lire, $- deutschemark will begin trading at, and what the spreades will be.
  • #36,618
  • Oct 3, 2008 9:25am Oct 3, 2008 9:25am
Please enter #NewsRoom on the Othernet server of IRC, or by entering the chat applet at http://www.inewsroom.net .
you got breaking news, live reports up-to-the-minute from Dow Jones, AP, MarketWatch and Reuters. all live, all free.
  • #36,619
  • Oct 3, 2008 9:27am Oct 3, 2008 9:27am
Quoting liranr
Please enter #NewsRoom on the Othernet server of IRC, or by entering the chat applet at http://www.spamspamspam.net .
you got breaking news, live reports up-to-the-minute from Dow Jones, AP, MarketWatch and Reuters. all live, all free.
Don't spam.

Thank you.
  • #36,620
  • Oct 3, 2008 9:28am Oct 3, 2008 9:28am
Does this thing have an end lol? I feel like im on a roller coaster to 1's
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