How many have burned their fingers today ? | Forex Factory

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How many have burned their fingers today ?

  • #1
  • First Post: Oct 24, 2008 2:42am Oct 24, 2008 2:42am
Todays range so far;

 

  1. Eur/jpy 1200 pips +
  2. Cable 1000 pips
  3. Aud/usd 691 pips
  4. Usd/jpy 680 pips

I guess many have lost big % of their accounts today picking tops/bottoms.

And to punch down all profitable traders today; Relax, a child could have made the same/better return than you This was not caused by any MA crossover.

Measure twice, cut once
  • #2
  • Oct 24, 2008 2:46am Oct 24, 2008 2:46am
Why trying to pick tops and bottoms in the first place?
Just hop on to a trend ride it out.
  • #3
  • Oct 24, 2008 2:53am Oct 24, 2008 2:53am
that is reason why I said forex and stock is not the waiting game most people knows.

the waiting game I talking about is wait until right signal to enter. never ever chase the trend.
  • #4
  • Oct 24, 2008 3:23am Oct 24, 2008 3:23am
I am profitable today, but that is most certainly not due to any MA crossover, hehe. I was already long jpy on several crosses, have been for a while- thanks to eur/jpy and gbp/jpy, my live account equity jumped 40ish percent in an hour. Think I am going to take the day off and rest upon my laurels, and the market's generosity as well.
  • #5
  • Oct 24, 2008 4:33am Oct 24, 2008 4:33am
Quoting aediaz1
I guess many have lost big % of their accounts today picking tops/bottoms.
Yes,

I lost 2% of my account, buying audjpy pinbar. But, that's not a big problem, and fortunately, I'm positive this week.
I'll try to be more careful taking counter trend trades.
  • #6
  • Oct 24, 2008 8:16am Oct 24, 2008 8:16am
I warmed up my chocolate croissant in the microwave a little too much and that kinda burned my fingers.

As far as trading goes, I played it safe. But there was no way I was shorting the USD or Yen today. (or anytime recently for that matter)
Lets see what next week brings.

Tom
  • #7
  • Oct 24, 2008 11:51am Oct 24, 2008 11:51am
Made a killing today
  • #8
  • Oct 24, 2008 1:01pm Oct 24, 2008 1:01pm
Quoting willf
Made a killing today
It would've been almost impossible not too
Never underestimate the powers of the Force.
  • #9
  • Oct 24, 2008 2:15pm Oct 24, 2008 2:15pm
Completed my normal weekly take of pips today...

Granted I couldn't hold any of my setups for very long... but I still took my normal trades... just had a bit higher risk and they were quicker than normal.
DireXiv Make it happen, no one else is going to do it for you...
  • #10
  • Oct 24, 2008 2:51pm Oct 24, 2008 2:51pm
Many will "have burned fingers today" but are far less likely to post than those who made money. Human nature.
  • #11
  • Oct 24, 2008 4:11pm Oct 24, 2008 4:11pm
Quoting fxprocessor
Many will \"have burned fingers today\" but are far less likely to post than those who made money. Human nature.
Lol actually I didn't burn, I made pips..
  • #12
  • Oct 25, 2008 9:13pm Oct 25, 2008 9:13pm
Quoting moneybags
I warmed up my chocolate croissant in the microwave a little too much and that kinda burned my fingers.
Better than burning any account

Quoting moneybags
SHR
Yes,

I lost 2% of my account, buying audjpy pinbar. But, that's not a big problem, and fortunately, I'm positive this week.
I'll try to be more careful taking counter trend trades.
Lesson learned
Measure twice, cut once
  • #13
  • Oct 26, 2008 5:32am Oct 26, 2008 5:32am
During the London session I was buring the market with 500 pip moves a minute. Afterward the market burned me back. Taking back that 500 pips. Oh the Irony.
  • #14
  • Last Post: Oct 26, 2008 5:45am Oct 26, 2008 5:45am
Quoting Jhig
During the London session I was buring the market with 500 pip moves a minute. Afterward the market burned me back. Taking back that 500 pips. Oh the Irony.
+500 - 500.. u ended it up with breakeven. Nothing to worry about.
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