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  • #54,781
  • Jan 7, 2009 1:43pm Jan 7, 2009 1:43pm
Quoting klinckphilip
yeah the signals are just confusing. I choose sideways.
ok so a short at 3640-50 might be a good move
  • #54,782
  • Jan 7, 2009 1:45pm Jan 7, 2009 1:45pm
Quoting d-e-f
I've found, personally, that the smaller the acct balance - the smaller the time frame you (I) must trade by? A 60 pip loss would ruin my trading plans for a week, so my stops have to be very tight and I need to be very lucky with my trades and do my homework twice before I place a trade. I need to look for real bottoms and real tops before I can get in or I'll either nickel and dime myself out of the game or take one big hit too many by placing my stops too loosely.
Thats very true, i used to think i could trade a 500 hundred dollar account into the thousands very easily..every time I did it I blew up.

After I put in a couple thousand I have had MUCH MUCH MUCH better success at forex. Im able to take back to back 30-40 piplosses and not feel it as much as on a 500 dollar account..A few of those on a 500 dollar account and your ruined..Plus you end up getting scared and having to put your stops closer to preserve the little remaining capital you have left..When that happens you end up just getting stoped out more because your being TOOO tight....

Just my thoughts and lessons I've learned the hard way.
  • #54,783
  • Jan 7, 2009 1:51pm Jan 7, 2009 1:51pm
Quoting weswes
Thats very true, i used to think i could trade a 500 hundred dollar account into the thousands very easily..every time I did it I blew up.

After I put in a couple thousand I have had MUCH MUCH MUCH better success at forex. Im able to take back to back 30-40 dollar losses and not feel it as much as on a 500 dollar account..A few of those on a 500 dollar account and your ruined..Plus you end up getting scared and having to put your stops closer to preserve the little remaining capital you have left..When that happens you end up just getting stoped...
I hear that.
Just a thought, MAYBE it's not such a bad way to learn forex money management since it forces us to be more conservative about every trade for future use in a larger acct? Or maybe I'm just looking for a silver lining?
  • #54,784
  • Jan 7, 2009 1:58pm Jan 7, 2009 1:58pm
Quoting d-e-f
I hear that.
Just a thought, MAYBE it's not such a bad way to learn forex money management since it forces us to be more conservative about every trade for future use in a larger acct? Or maybe I'm just looking for a silver lining?
yah it could do that...but then again its such little amount of money alot of times i found it hard not to treat it as a demo account..id get down from like 500 to 250 and be like hell screw it its just $250, overleverage and blow up...would have been better off on a demo account..

now that I have a couple thousand at stake (im 23) I respect my P/L and MM much more
  • #54,785
  • Jan 7, 2009 1:59pm Jan 7, 2009 1:59pm
How does a country expect not to go bankrupt when they spend $1.2 trillion in extra money that they don't have.

I think I am going to open a EURO dominated account and Pounds account.

I'm losing faith in the US DOLLAR, in the LONG RUN its a disaster.
  • #54,786
  • Jan 7, 2009 2:09pm Jan 7, 2009 2:09pm
Quoting bosoko
How does a country expect not to go bankrupt when they spend $1.2 trillion in extra money that they don't have.

I think I am going to open a EURO dominated account and Pounds account.

I'm losing faith in the US DOLLAR, in the LONG RUN its a disaster.
what should be done to jump start the economy? what could be the best solution to avoid this crisis? do you know what its mean 20 millions jobs loss?? 500 businesses weekly bankrupties? i guess that's more expensive.
"Simplicity is the ultimate sophistication" leonardo da vinci
  • #54,787
  • Jan 7, 2009 2:11pm Jan 7, 2009 2:11pm
Quoting vulture
what should be done to jump start the economy? what could be the best solution to avoid this crisis? do you what its mean 20 millions jobs loss?? 500 business week bankrupties? i guess that's more expensive.
Dont jump to such conclusions just yet, dollar is the most abundant currency in the world, so printing 1.2 trillion more of it will not effect its "value" as much as it would euro or pound in an identical instance...both euro and bound are likely to experience an identical overprinting.
Edit: sorry I am an idiot, I meant to quote the guy who you quoted.
  • #54,788
  • Jan 7, 2009 2:13pm Jan 7, 2009 2:13pm
Quoting vulture
what should be done to jump start the economy? what could be the best solution to avoid this crisis? do you what its mean 20 millions jobs loss?? 500 business week bankrupties? i guess that's more expensive.

I think the thing with US is that noone wants pain, I don't want to seem heartless because I trade for a living but I really think that Capitalism should be allowed to work.

But in saying that 1 trillion dollar deficit and from what I read it won't be only 2009 when will the world get tired of trying to support the dollar.

It seems the printing press has been turned to max, and digits keep adding up, in federal reserve comps( nowadays, money is created through digital typing rather that actually paper printing, WHICH IS WORSE)
  • #54,789
  • Jan 7, 2009 2:14pm Jan 7, 2009 2:14pm
Quoting iii
Dont jump to such conclusions just yet, dollar is the most abundant currency in the world, so printing 1.2 trillion more of it will not effect its "value" as much as it would euro or pound in an identical instance...both euro and bound are likely to experience an identical overprinting.
Edit: sorry I am an idiot, I meant to quote the guy who you quoted.
we gonna see a bounce soon seems like over due
  • #54,790
  • Jan 7, 2009 2:16pm Jan 7, 2009 2:16pm
Holding up darn good with oil collapsing.

Dollar is not going to do well into jobs, perhaps.

The week has started strange, indeed.
  • #54,791
  • Jan 7, 2009 2:18pm Jan 7, 2009 2:18pm
Quoting klinckphilip
we gonna see a bounce soon seems like over due
Right...but thats not even specific, I can say that we will definitely see a bull market in euro in the next 20 years and I will most likely be right, but I am being too vague.
Bounce to what level? what is a good entry? optimal stop loss and tp?
Those are the questions that need to be addressed.
  • #54,792
  • Jan 7, 2009 2:23pm Jan 7, 2009 2:23pm
Quoting klinckphilip
we gonna see a bounce soon seems like over due
38.2 of this small move is 41 or so good time to short once it gets there
  • #54,793
  • Jan 7, 2009 2:30pm Jan 7, 2009 2:30pm
Quoting bosoko
to answer Tjpld

It all depends on your trading style, Me I like seeing a clear trend, wait for a retracement and then get a signal.

[...]

You have a different approach using a smaller timeframe, so you probably make money from that.

I could also say I trade PA, because I trade what I see, just use EMA's and FIbonacci to help me.

Thanks
Don't get me wrong I trade of Daily Charts. I don't think 300 Pips on Monday and 170 on Tuesday with 2 trades is considered scalping smaller timeframes. Only thing I wanted to point out is that I could plot a random Moving Average and you will see places where it bounced off of that. I know what you mean with self fullfilling prophecy but I don't buy that. For me it's just like the bible code. If you take the bible and shift the letters in some way there will be one place where you can read "SHORT EUR/USD ON THURSDAY" or stuff like that.
  • #54,794
  • Jan 7, 2009 2:33pm Jan 7, 2009 2:33pm
Quoting iii
Right...but thats not even specific, I can say that we will definitely see a bull market in euro in the next 20 years and I will most likely be right, but I am being too vague.
Bounce to what level? what is a good entry? optimal stop loss and tp?
Those are the questions that need to be addressed.
ok short 47 to me this looks good I am not sure though
  • #54,795
  • Jan 7, 2009 2:35pm Jan 7, 2009 2:35pm
Quoting klinckphilip
ok short 47 to me this looks good I am not sure though
wow there is alot of down pressure you are right
  • #54,796
  • Jan 7, 2009 2:35pm Jan 7, 2009 2:35pm
Quoting klinckphilip
ok short 47 to me this looks good I am not sure though
Are you actually trading or just posting for the heck of it?
I dont use fibs just PA, so I went short 2 more lots at 1.3645.
  • #54,797
  • Jan 7, 2009 2:37pm Jan 7, 2009 2:37pm
Quoting klinckphilip
wow there is alot of down pressure you are right
to me the next hour candle will be red so 22 min to go we could see 3550

iii is that what you are shooting for
  • #54,798
  • Jan 7, 2009 2:39pm Jan 7, 2009 2:39pm
Quoting klinckphilip
to me the next hour candle will be red so 22 min to go we could see 3550

iii is that what you are shooting for
Nope I am thinking longer term...1.28 or so, we will see.
  • #54,799
  • Jan 7, 2009 2:41pm Jan 7, 2009 2:41pm
Quoting iii
Nope I am thinking longer term...1.28 or so, we will see.
hmm would love that Im sure alot of noise between well we will see
  • #54,800
  • Jan 7, 2009 2:42pm Jan 7, 2009 2:42pm
Quoting bosoko
I think the thing with US is that noone wants pain, I don't want to seem heartless because I trade for a living but I really think that Capitalism should be allowed to work.

But in saying that 1 trillion dollar deficit and from what I read it won't be only 2009 when will the world get tired of trying to support the dollar.

It seems the printing press has been turned to max, and digits keep adding up, in federal reserve comps( nowadays, money is created through digital typing rather that actually paper printing, WHICH IS WORSE)
Capitalism cant works with lack of proper supervision or regulation.its going to be a complete hell if they just watch and see. its embarassing but there's no other way around.
"Simplicity is the ultimate sophistication" leonardo da vinci
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