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  • #48,121
  • Dec 3, 2008 6:46pm Dec 3, 2008 6:46pm
Quoting traderathome
I don't know...... has spent most of last session below1.2700 with highest volumes at lowest prices. So, looks to me like the big boys are loading up longs. Geez, look at the recent volume spike after they worked it down a bit.......
Blimey, that is a spike and a half! What's your current anaylsis on this pair? I was looking on the Trix, the buy signal is different on different time frames. The hourly says buy, th daily hasn't given the signal.
Probability Professor
  • #48,122
  • Dec 3, 2008 6:49pm Dec 3, 2008 6:49pm
Quoting knuckledrag
I set mine at 1.2645 early out and first good bounce 1.2723 should be a good long entry maybe?
working so for im up 25 pips.. i love having some locked in
those who can, do. those who cant, talk about those who can
  • #48,123
  • Dec 3, 2008 6:51pm Dec 3, 2008 6:51pm
Quoting Galation
I have a short, my take profit is 1.2658 - that is assuming it will drop. I just want to get out ofthis one and wait for the Euro session to set the trend.
yeah short at 2723... so for so good.. i locked 8 in for my sl
those who can, do. those who cant, talk about those who can
  • #48,124
  • Dec 3, 2008 6:55pm Dec 3, 2008 6:55pm
Quoting gatorinla
yeah short at 2723... so for so good.. i locked 8 in for my sl
Nice one.
Probability Professor
  • #48,125
  • Dec 3, 2008 6:57pm Dec 3, 2008 6:57pm
I'll see you all around the two AM take profit in the Asian market. Happy pips to all
  • #48,126
  • Dec 3, 2008 7:00pm Dec 3, 2008 7:00pm
GRRRRRRRRR must have put the wrong tp... it took me out sooner then i wanted.. made 37.5 pips.. grrrr all my other pairs are away from my entries now also.. its gonna be a long night..
those who can, do. those who cant, talk about those who can
  • #48,127
  • Dec 3, 2008 7:02pm Dec 3, 2008 7:02pm
Quoting Galation
Any shorts in the house?
Been short since the post below...
gy = 37.95
ej = 18.65
gu = 4770 after my linit sell missed getting hit by a couple pips.
eu = 2723 and closed initial 2709 entry for +10 leaving the higher one

So far everything edxcept the little stop hunting headfake runup is going pretty well to plan..

Tho the UTL entries were pretty good, any time the figure is involved, like on the GY and EU entries,there's always a good chance to see it spike up above it to clear out the weak shorts Like it did earlier. Just have to allow for that, as I'm unwilling to lose the good entry if it doesn't. It's a temporary drawdown but oh well... the risk of the game.

Always a chance to add a better position and close the lousy one on the way back down for a few. Usually works...

http://www.forexfactory.com/showpost...ostcount=48065
FUBAR...
  • #48,128
  • Dec 3, 2008 7:10pm Dec 3, 2008 7:10pm
Quoting ak4x
Been short since the post below...
gy = 37.95
ej = 18.65
gu = 4770 after my linit sell missed getting hit by a couple pips.
eu = 2723 and closed initial 2709 entry for +10 leaving the higher one

So far everything edxcept the little stop hunting headfake runup is going pretty well to plan..

Tho the UTL entries were pretty good, any time the figure is involved, like on the GY and EU entries,there's always a good chance to see it spike up above it to clear out the weak shorts Like it did earlier. Just have to allow for that, as I'm unwilling to...
What's your take profit on the EU?
Probability Professor
  • #48,129
  • Dec 3, 2008 7:11pm Dec 3, 2008 7:11pm
Quoting forexbomber
TradeWell i was wondering if you have a set SL when scalping the eurusd? I am still going for 5 pips at a time, but i struggle with how far to let the trade go against me. So with this said, do you have a set max number of pips a trade can go against you or do you have an indicator etc...

Thanks for all your help!

Talk to you soon,
Mike
Sorry I couldn't get back to you right away. I was taking advantage of the lull in the market.

I have been trying to figure out myself what my stop loss is. If I put a number on it, I would say 20 but it can be 10 to 30. It can depend; if there is a pivot nearby it may be lower. I watch PA to help me decide.

With such a small amount of pips you are risking for your risk/reward ratio is high. Usually your stop will be maybe 1/2 of what you are trying to gain. Some on this thread scalp small trades like that but use no SL. I don't recommend that as it is highly risky and you have to have a feel for it.

You might want to try something to get more pips. Have you been to the THV thread?
http://www.forexfactory.com/showthre...91#post2351491
You may want to try it on demo. It should help you stay in trades longer. Good luck.
  • #48,130
  • Dec 3, 2008 7:12pm Dec 3, 2008 7:12pm
Quoting ak4x
Been short since the post below...
gy = 37.95
ej = 18.65
gu = 4770 after my linit sell missed getting hit by a couple pips.
eu = 2723 and closed initial 2709 entry for +10 leaving the higher one

So far everything edxcept the little stop hunting headfake runup is going pretty well to plan..

Tho the UTL entries were pretty good, any time the figure is involved, like on the GY and EU entries,there's always a good chance to see it spike up above it to clear out the weak shorts Like it did earlier. Just have to allow for that, as I'm unwilling to...
Four simultaneous trades on the go! Somebody is wearing their smart cap tonight.
Probability Professor
  • #48,131
  • Dec 3, 2008 7:13pm Dec 3, 2008 7:13pm
Quoting Galation
What's your take profit on the EU?
open tfn on all pairs, +3 locked in and watching tv...
FUBAR...
  • #48,132
  • Dec 3, 2008 7:14pm Dec 3, 2008 7:14pm
Quoting TradeWell
Sorry I couldn't get back to you right away. I was taking advantage of the lull in the market.

I have been trying to figure out myself what my stop loss is. If I put a number on it, I would say 20 but it can be 10 to 30. It can depend; if there is a pivot nearby it may be lower. I watch PA to help me decide.

With such a small amount of pips you are risking for your risk/reward ratio is high. Usually your stop will be maybe 1/2 of what you are trying to gain. Some on this thread scalp small trades like that but use no SL. I don't recommend that...
Scalping without a stop loss can cause high blood pressure.
Probability Professor
  • #48,133
  • Dec 3, 2008 7:19pm Dec 3, 2008 7:19pm
Quoting Galation
Four simultaneous trades on the go! Somebody is wearing their smart cap tonight.
not really, if you were familiar with my posts over the last bunch of weeks, i watch GY very closely and trade EU/EJ off of that.The GU trade tonite was a no brainer exception I couldn't pass up, but I don't normally trade it. my limit sell missed by 2 pips and by the time i realized it, i had to pass or take a lousy entry. it's pretty safe trade imo, so i went with it.

all trades have some profit already taken off and no risk = tv time with the family. back later. careful trades all.
FUBAR...
  • #48,134
  • Dec 3, 2008 7:22pm Dec 3, 2008 7:22pm
Quoting ak4x
not really, if you were familiar with my posts over the last bunch of weeks, i watch GY very closely and trade EU/EJ off of that.The GU trade tonite was a no brainer exception I couldn't pass up, but I don't normally trade it. my limit sell missed by 2 pips and by the time i realized it, i had to pass or take a lousy entry. it's pretty safe trade imo, so i went with it.

all trades have some profit already taken off and no risk = tv time with the family. back later. careful trades all.
Legend
Probability Professor
  • #48,135
  • Dec 3, 2008 7:40pm Dec 3, 2008 7:40pm
Quoting Galation
Any shorts in the house? This better not try to test the 1.27 mark.
I am Short a Few. I'm looking at the 1.2575 level as a comfortable achievement. At that point I will release some of my holdings & Run the Rest down the Drain.

BUT...
Perhaps your Hopes {OR Mine} will not Turn to Fears. {Know Your Loss Limits and Honour Them!}
{Trying Hard not to be too cryptic?
Differences between posts of Teaching & Trading are such that I don't have to ratify my reflexes to Others
AND I hope They Understand.}
  • #48,136
  • Dec 3, 2008 7:41pm Dec 3, 2008 7:41pm
im long eur.. news about mortgage is getting legs on cnbc
those who can, do. those who cant, talk about those who can
  • #48,137
  • Dec 3, 2008 8:06pm Dec 3, 2008 8:06pm
GRRRRRRRRR im so confused!!! *L* i think this mortgage news will bring equity bulls out tomorrow.. but japan is down 11 points.. im wondering if i should be zigging instead of zagging... long euro 2702 extremily scared.. sl 1.2650 tp letting 1.2798ish... this is what i get for jumping the news
those who can, do. those who cant, talk about those who can
  • #48,138
  • Dec 3, 2008 8:22pm Dec 3, 2008 8:22pm
4h resistance line from previous days created great support today and a move upwards could still be possible. The daily swing has just created higher-lows indicating a test to previous highs (1.3080-1.3100)
Attached Image (click to enlarge)
Click to Enlarge Name: 4H lines.PNG Size: 25 KB
  • #48,139
  • Dec 3, 2008 8:41pm Dec 3, 2008 8:41pm
I'd like to see whether we break resistance or not before I jump in for a few pips either way.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 1 hr 1.gif Size: 24 KB
Pip what you see; See what you pip!
  • #48,140
  • Dec 3, 2008 8:43pm Dec 3, 2008 8:43pm
Quoting Bemac
At that point I will release some of my holdings & Run the Rest down the Drain...
I'm afraid that's what it's looking like... amazing times we're in.

Saw this picture the other day on an old hard drive I'm archiving and thought of you... It's from somewhere near Ft Nelson if I remember rightly. It was an access road onto a pad.
Attached Image
FUBAR...
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